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4. Prepayments and Advances
 9 Months Ended 12 Months Ended
Sep. 30, 2020
Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Prepayments and Advances

NOTE 4 – PREPAYMENTS AND OTHER ASSETS

 

Prepayments and other assets are comprised of prepayments paid to vendors to initiate orders and prepaid services and fees. The prepaid balances are summarized as follows:

 

    September 30,     December 31,  
    2020     2019  
Vendor prepayments   $ 1,828,531     $ 1,070,788  
Prepaid services and fees     268,655       187,912  
Deferred financing asset (See Note 9 - Debt)     630,805       –  
Other assets     6,391       20,028  
Prepayments and other assets   $ 2,734,382     $ 1,278,728  

NOTE 4 – PREPAYMENTS & ADVANCES

 

Prepayments and advances are comprised of prepayments paid to vendors to initiate orders and prepaid services and fees. The prepaid balances are summarized as follows:

 

   December 31,  December 31,
   2019  2018
Vendor Prepayments  $1,070,788   $776,478 
Prepaid Services and Fees   187,912    152,204 
Prepayments and Advances  $1,258,700   $928,682