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Commitments | 6 Months Ended
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Jun. 30, 2023
Commitments [Abstract] |
COMMITMENTS | 17. COMMITMENTS Lease Commitment On November 20, 2017, Xi’an TCH entered into a lease for its office from December 1, 2017 through November 30, 2020. The monthly rent was RMB 36,536 ($5,600) with quarterly payment in advance. This lease expired in November 2020. The Company entered a new lease for the same location from January 1, 2021 through December 31, 2023 with monthly rent of RMB 36,536 ($5,600), to be paid every half year in advance. The components of lease costs, lease term and discount rate with respect of the office lease with an initial term of more than 12 months are as follows:
|  | Six Months Ended |
|  | June 30, 2023 |
Operating lease cost – amortization of ROU |  | $ | 30,863 |
Operating lease cost – interest expense on lease liability |  | $ | 774 |
Weighted Average Remaining Lease Term - Operating leases |  |  | 0. 5 years |
Weighted Average Discount Rate - Operating leases |  |  | 5 | %
|  | Six Months Ended |
|  | June 30, 2022 |
Operating lease cost– amortization of ROU |  | $ | 31,399 |
Operating lease cost – interest expense on lease liability |  | $ | 2,413 |
|  | Three Months Ended June 30, 2022 |
Operating lease cost – amortization of ROU |  | $ | 15,245 |
Operating lease cost – interest expense on lease liability |  | $ | 385 |
|  | Three Months Ended June 30, 2022 |
Operating lease cost – amortization of ROU |  | $ | 15,359 |
Operating lease cost – interest expense on lease liability |  | $ | 1,193 |
The following is a schedule, by years, of maturities of the office lease liabilities as of June 30, 2023:
For the year ended June 30, 2024, |  | $ | 30,338 |
Total undiscounted cash flows |  |  | 30,338 |
Less: imputed interest |  |  | (4 | )
Present value of lease liabilities |  | $ | 30,334 |
Employment Agreement On May 8, 2020, the Company entered an employment agreement with Yongjiang Shi, the Company’s CFO for 24 months. The monthly salary was RMB 16,000 ($2,200). The Company will grant the CFO no less than 5,000 shares of the Company’s common stock annually; however, as of this report date, the Board of Directors and Compensation Committee have not approved the number of shares to be given to the CFO, nor any stock reward agreement has been signed. On May 6, 2022, the Company entered another employment agreement with Mr. Shi for 24 months with monthly salary of RMB 18,000 ($2,500). The Company will grant the CFO no less than 5,000 shares of the Company’s common stock annually; however, as of this report date, the Board of Directors and Compensation Committee have not approved the number of shares to be given to the CFO, nor any stock reward agreement has been signed.

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