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SHORT-TERM AND LONG-TERM DEBT

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

SHORT-TERM AND LONG-TERM DEBT

NOTE 3 SHORT-TERM AND LONG-TERM DEBT

The short-term debt balances were as follows:

SCHEDULE OF SHORT-TERM DEBT

		June 30, 2023 (Unaudited)				December 31, 2022
Loan Agreement with Shanghai Bank at 3.06% interest rate per annum due August 2023 and January 2024.			192,746				-
Loan agreement with HuaNam Bank at 3.43% interest rate per annum due November 2023.			96,373				-
Loan agreement with Shanghai Bank at 2.94% interest rate per annum due September 2022. Repaid January and March 2023			-				398,409
Balance at end of period		$	289,119			$	398,409

Long-term debt balances were as follows:

SCHEDULE OF LONG-TERM DEBT

		June 30, 2023 (Unaudited)				December 31, 2022
Loans from Shanghai Bank with interest rates 1.50% - 2.97% per annum due February 2024 – November 2026			-				256,184
Current Portion of Long-term debt			-				(65,408	)
Balance at end of period		$	-			$	190,776

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- References

No definition available.

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- Definition

The entire disclosure for short-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

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