|3 Months Ended|
Mar. 31, 2021
|Prepayment for Long-term Investment [Abstract]|
NOTE 6 – Long-term Investment
On December 3, 2020, the Company entered into three separate stock purchase agreements (or "Stock Purchase Agreement") from three individuals to purchase an aggregate of 6,000,000 restricted shares of one of the Company's related party, YuanJiu Inc. (YuanJiu) in a total amount of NT$141,175,000. YuanJiu is a listed company in Taiwan Stock Exchange and the stock title transfer is subject to certain restriction.
In the Stock Purchase Agreement, there was the restriction on the stock title transfer until May 13, 2021. As of May 20, 2021, the restriction on the stock transfer was released and the stock title transfer process is under review of Taiwan government and subject to the approval of Taiwan government. The parties agreed to transfer the title once approved. As of March 31, 2021 and December 31, 2020, the investment was recorded as prepayment for long-term investment and was approximately 10% ownership of YuanJiu. The Company intends to hold the investment for long-term purpose.
As of March 31, 2021 and December 31, 2020, the fair value of the investment was as follows:
On March 24, 2021, the Company purchased additional 1,000 shares of YuanJiu's common stock in a total amount of $680 (unaudited) from a related party.