Quarterly report pursuant to Section 13 or 15(d)

Long-Term Investment

Long-Term Investment
9 Months Ended
Sep. 30, 2022
Long-Term Investment [Abstract]  
Long-term Investment

NOTE 8 - Long-term Investment


On August 20, 2021, the Company entered into Stock Subscription Agreement (or “Subscription Agreement”) with tz-Comm Inc. (or “tz-Comm”), a Nevada company, to purchase 40% of tz-Comm’s ownership with a cash payment of $40,000. The purpose of the Company’s investment in tz-Comm is to collaborate with the other shareholders in developing future business opportunities in the U.S. and Asia. The Company accounts for its investment in tz-Comm by the equity method of accounting under which the Company’s share of the net income of tz-Comm is reported in the Company’s income statement. As of September 30, 2022, the balance of net investment in tz-Comm was $36,385.


As of September 30, 2022, 5,000,000 shares of Ejectt’s common stock were restricted. As of September 30, 2022 and December 31, 2021, the fair value of the long-term investment in Ejectt was $4,106,356 and $4,704,398, respectively.