Operating and Finance Leases (Tables)
|
9 Months Ended |
Sep. 30, 2022 |
|---|
| Operating and Finance Leases Table [Abstract] |
|
| Schedule of weighted-average remaining lease term and discount rate related to the leases |
| |
|
2022 |
|
|
2021 |
|
| |
|
(Unaudited) |
|
|
|
|
| Weighted-average remaining lease term |
|
|
|
|
|
|
| Operating lease |
|
|
0.54 Year |
|
|
|
0.81 Year |
|
| Finance lease |
|
|
2.10 Years |
|
|
|
3.10 Years |
|
| Weighted-average discount rate |
|
|
|
|
|
|
|
|
| Operating lease |
|
|
6.00 |
% |
|
|
6.00 |
% |
| Finance lease |
|
|
3.82 |
% |
|
|
3.82 |
% |
|
| Schedule of operating leases |
| |
|
September
30,
2022 |
|
|
December 31,
2021 |
|
| |
|
(Unaudited) |
|
|
|
|
| Right-of-use assets |
|
$ |
123,882 |
|
|
$ |
177,994 |
|
| Lease liability – current |
|
$ |
135,861 |
|
|
$ |
376,027 |
|
| Lease liability – non-current |
|
$ |
30,079 |
|
|
$ |
36,639 |
|
|
| Schedule of finance leases |
| |
|
September
30,
2022 |
|
|
December 31,
2021 |
|
| |
|
(Unaudited) |
|
|
|
|
| Property and equipment, at cost |
|
$ |
56,771 |
|
|
$ |
56,770 |
|
| Accumulated depreciation |
|
|
(34,370 |
) |
|
|
(25,529 |
) |
| Property and equipment, net |
|
$ |
22,401 |
|
|
$ |
31,241 |
|
| |
|
|
|
|
|
|
|
|
| Lease liability - current |
|
$ |
10,399 |
|
|
$ |
11,481 |
|
| Lease liability – non-current |
|
|
14,870 |
|
|
|
26,013 |
|
| Total finance lease liabilities |
|
$ |
25,269 |
|
|
$ |
37,494 |
|
|
| Schedule of incomes and expenses within operating leases |
| |
|
Three
Months Ended |
|
|
Nine
Months Ended |
|
| |
|
September
30,
2022 |
|
|
September
30,
2021 |
|
|
September
30,
2022 |
|
|
September
30,
2021 |
|
| |
|
(Unaudited) |
|
|
(Unaudited) |
|
|
(Unaudited) |
|
|
(Unaudited) |
|
| Lease expense |
|
$ |
32,710 |
|
|
$ |
54,399 |
|
|
$ |
124,376 |
|
|
$ |
166,989 |
|
| Sublease rental income |
|
|
(19,200 |
) |
|
|
(3,643 |
) |
|
|
(52,858 |
) |
|
|
(9,206 |
) |
| Net lease expense |
|
$ |
13,510 |
|
|
$ |
50,756 |
|
|
$ |
71,518 |
|
|
$ |
157,783 |
|
|
| Schedule of incomes and expenses within finance leases |
| |
|
Three Months Ended |
|
|
Nine Months Ended |
|
| |
|
September 30,
2022 |
|
|
September 30,
2021 |
|
|
September 30,
2022 |
|
|
September 30,
2021 |
|
| |
|
(Unaudited) |
|
|
(Unaudited) |
|
|
(Unaudited) |
|
|
(Unaudited) |
|
| Amortization of right-of-use asset |
|
$ |
2,845 |
|
|
$ |
3,049 |
|
|
$ |
8,840 |
|
|
$ |
9,106 |
|
| Interest on lease liabilities |
|
|
274 |
|
|
|
401 |
|
|
|
932 |
|
|
|
1,281 |
|
| Total finance lease cost |
|
$ |
3,119 |
|
|
$ |
3,450 |
|
|
$ |
9,772 |
|
|
$ |
10,387 |
|
|
| Schedule of supplemental cash flow information related to leases |
| |
|
September 30,
2022 |
|
|
September 30,
2021 |
|
| |
|
(Unaudited) |
|
|
(Unaudited) |
|
| Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
|
|
|
| Operating cash outflows from operating leases |
|
$ |
47,774 |
|
|
$ |
87,994 |
|
| Operating cash outflows from finance lease |
|
$ |
8,321 |
|
|
$ |
8,249 |
|
| Financing cash outflows from finance lease |
|
$ |
932 |
|
|
$ |
1,281 |
|
| Leased assets obtained in exchange for lease liabilities: |
|
|
|
|
|
|
|
|
| Operating leases |
|
$ |
74,795 |
|
|
$ |
28,197 |
|
|
| Schedule of maturity of operating leases |
| |
|
Related
Party |
|
|
Others |
|
|
Total |
|
| |
|
(Unaudited) |
|
|
(Unaudited) |
|
|
(Unaudited) |
|
| October 1, 2022 – September 30, 2023 |
|
$ |
- |
|
|
$ |
99,284 |
|
|
$ |
99,284 |
|
| October 1, 2023 – September 30, 2024 |
|
|
- |
|
|
|
30,861 |
|
|
|
30,861 |
|
| Total lease payments |
|
$ |
- |
|
|
$ |
130,145 |
|
|
$ |
130,145 |
|
| Less: Imputed interest |
|
|
- |
|
|
|
(5,110 |
) |
|
|
(5,110 |
) |
| Present value of lease liabilities |
|
$ |
- |
|
|
$ |
125,035 |
|
|
$ |
125,035 |
|
| Current portion |
|
|
- |
|
|
|
(94,956 |
) |
|
|
(94,956 |
) |
| Non-current portion |
|
$ |
- |
|
|
$ |
30,079 |
|
|
$ |
30,079 |
|
|
| Schedule of maturity of finance lease |
| |
|
Total |
|
| |
|
(Unaudited) |
|
| October 1, 2022 – September 30, 2023 |
|
$ |
11,184 |
|
| October 1, 2023 – September 30, 2024 |
|
|
11,184 |
|
| October 1, 2024 – September 30, 2025 |
|
|
4,079 |
|
| Total lease payments |
|
$ |
26,447 |
|
| Less: Imputed interest |
|
|
(1,178 |
) |
| Present value of lease liabilities |
|
$ |
25,269 |
|
| Current portion |
|
|
(10,399 |
) |
| Non-current portion |
|
$ |
14,870 |
|
|