Logiq (LGIQ) 10-Q 14 Aug 20 2020 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 13, 2020
Document Information Line Items
Entity Registrant Name	WEYLAND TECH, INC.
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		12,895,432
Amendment Flag	false
Entity Central Index Key	0001335112
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity File Number	000-51815
Entity Incorporation, State or Country Code	DE
Entity Interactive Data Current	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)		Jun. 30, 2020	Dec. 31, 2019
Non-current assets
Intangible assets, net		$ 7,985,632	$ 611,598
Property and equipment, net		201,843
Goodwill		4,781,208
Total non-current assets		12,968,683	611,598
Current assets
Amount due from associate		4,323,700	2,825,700
Account receivable		1,622,674
Other amount recoverable		49,550	549,550
Prepayment, deposit and other receivables		1,794,456	1,641,684
Financial assets held for resale			2,730,363
Cash and cash equivalents		3,859,783	2,972,649
Total current assets		11,650,163	10,719,946
Total assets		24,618,846	11,331,544
Current liabilities
Accounts payable		1,057,629
Accruals and other payables		824,966	298,453
Deposits received for shares to be issued		1,482,485
Amount due to director		77,500	77,500
Total current liabilities		3,442,580	375,953
Non-current liabilities
Long term loan		10,000
Bank loan			500,000
Notes payable		503,700
Total non-current liabilities		513,700	500,000
Total liabilities		3,956,280	875,953
Stockholders’ Equity
Common stock, $0.0001 par value, 250,000,000 shares authorized, 12,195,973 and 8,561,704 shares issued and outstanding as of June 30, 2020 and December 31, 2019 respectively	[1]	15,855	11,130
Additional paid-in capital		58,466,864	58,058,118
Capital reserves		14,282,143
Accumulated deficit carried forward		(52,102,296)	(47,613,657)
Total stockholder’s equity		20,662,566	10,455,591
Total liabilities and stockholders’ equity		$ 24,618,846	$ 11,331,544
[1]	The number of shares of common stock has been retroactively restated to reflect the 1 for 13 reverse stock-split on February 25, 2020

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares		Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in Dollars per share)	[1]	$ 0.0001	$ 0.0001
Common stock, shares authorized	[1]	250,000,000	250,000,000
Common stock, shares issued	[1]	12,195,973	8,561,704
Common stock, shares outstanding	[1]	12,195,973	8,561,704
[1]	The number of shares of common stock has been retroactively restated to reflect the 1 for 13 reverse stock-split on February 25, 2020

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Service Revenue		$ 9,315,060	$ 7,141,932	$ 24,296,454	$ 15,633,624
Cost of Service		8,095,406	5,874,249	20,431,668	12,858,676
Gross Profit		1,219,654	1,267,683	3,864,786	2,774,948
Other income/(expenses),net		(265,223)		(261,415)
Gross Income		954,431	1,267,683	3,603,371	2,774,948
Operating Expenses
General and administrative		1,180,246	1,280,869	4,382,288	1,921,791
Research and development		900,844	1,242,833	2,658,195	2,110,548
Sales and marketing		99,262	389,610	152,277	389,610
Depreciation and amortization		449,625	25,483	899,249	50,967
Total Operating Expenses		2,629,977	2,938,795	8,092,009	4,472,916
(Loss) from Operations		(1,675,546)	(1,671,112)	(4,488,638)	(1,697,968)
Net (Loss) before income tax		(1,675,546)	(1,671,112)	(4,488,638)	(1,697,968)
Income tax (Corporate tax)
Net (Loss)		$ (1,675,546)	$ (1,671,112)	$ (4,488,638)	$ (1,697,968)
Net (loss) profit per common share - basic and fully diluted (in Dollars per share)		$ (0.1369)	$ (0.4776)	$ (0.3764)	$ (0.5232)
Weighted average number of basic and fully diluted common share outstanding (in Shares)	[1]	12,241,835	3,499,259	11,926,020	3,245,491
[1]	The weighted average number of shares of common stock has been retroactively restated to reflect the 1 for 13 reverse stock-split on February 25, 2020

Consolidated Statements of Stoc

Consolidated Statements of Stockholders’ Equity - USD ($)		Common Stock		Additional paid-in capital	Accumulated (Deficit)	Subscriptions received/ Capital reserves	Total
Balance at beginning at Dec. 31, 2018		$ 3,692	[1]	$ 46,177,521	$ (41,071,971)		$ 5,109,242
Balance at beginning (in Shares) at Dec. 31, 2018	[1]	36,915,343
Issuance of shares		$ 510	[1]	585,129			585,639
Issuance of shares (in Shares)	[1]	5,103,121
Net profit (loss) for the year					(26,853)		(26,853)
Balance at end at Mar. 31, 2019		$ 4,202	[1]	46,762,650	(41,098,824)		5,668,028
Balance at end (in Shares) at Mar. 31, 2019	[1]	42,018,464
Balance at beginning at Dec. 31, 2018		$ 3,692	[1]	46,177,521	(41,071,971)		5,109,242
Balance at beginning (in Shares) at Dec. 31, 2018	[1]	36,915,343
Net profit (loss) for the year							(1,697,968)
Balance at end at Jun. 30, 2019		$ 5,200	[1]	48,087,318	(42,769,936)		5,322,582
Balance at end (in Shares) at Jun. 30, 2019	[1]	52,002,152
Balance at beginning at Dec. 31, 2018		$ 3,692	[1]	46,177,521	(41,071,971)		5,109,242
Balance at beginning (in Shares) at Dec. 31, 2018	[1]	36,915,343
Balance at end at Dec. 31, 2019		$ 11,130	[1]	58,058,118	(47,613,657)		10,455,591
Balance at end (in Shares) at Dec. 31, 2019	[1]	111,304,253
Balance at beginning at Mar. 31, 2019		$ 4,202	[1]	46,762,650	(41,098,824)		5,668,028
Balance at beginning (in Shares) at Mar. 31, 2019	[1]	42,018,464
Issuance of shares		$ 998	[1]	1,324,668			1,325,666
Issuance of shares (in Shares)	[1]	9,983,688
Net profit (loss) for the year					(1,671,112)		(1,671,112)
Balance at end at Jun. 30, 2019		$ 5,200	[1]	48,087,318	(42,769,936)		5,322,582
Balance at end (in Shares) at Jun. 30, 2019	[1]	52,002,152
Balance at beginning at Dec. 31, 2019		$ 11,130	[1]	58,058,118	(47,613,657)		10,455,591
Balance at beginning (in Shares) at Dec. 31, 2019	[1]	111,304,253
Effect of reverse split		$ 11,130	[1]	58,058,118	(47,613,657)		10,455,591
Effect of reverse split (in Shares)	[1]	(102,742,549)
Issuance of shares		$ 4,362	[1]	(790)		14,282,143	14,285,714
Issuance of shares (in Shares)	[1]	3,355,012
Cancelation of shares		$ (1)	[1]	1
Cancelation of shares (in Shares)	[1]	(589)
Shares issued for services		$ 569	[1]	667,717			668,286
Shares issued for services (in Shares)	[1]	437,503
Net profit (loss) for the year					(2,813,092)		(2,813,092)
Balance at end at Mar. 31, 2020		$ 16,060	[1]	58,725,046	(50,426,750)	14,282,143	22,596,499
Balance at end (in Shares) at Mar. 31, 2020	[1]	12,353,630
Balance at beginning at Dec. 31, 2019		$ 11,130	[1]	58,058,118	(47,613,657)		10,455,591
Balance at beginning (in Shares) at Dec. 31, 2019	[1]	111,304,253
Net profit (loss) for the year							(4,488,638)
Balance at end at Jun. 30, 2020		$ 15,855	[1]	58,466,864	(52,102,296)	14,282,143	20,662,566
Balance at end (in Shares) at Jun. 30, 2020	[1]	12,195,973
Balance at beginning at Mar. 31, 2020		$ 16,060	[1]	58,725,046	(50,426,750)	14,282,143	22,596,499
Balance at beginning (in Shares) at Mar. 31, 2020	[1]	12,353,630
Issuance of shares		$ 15	[1]	(180)			$ (165)
Issuance of shares (in Shares)		11,500	[1]				138,500
Cancelation of shares		$ (385)	[1]	385
Cancelation of shares (in Shares)	[1]	(296,157)
Shares issued for services		$ 165	[1]	(258,387)			$ (258,222)
Shares issued for services (in Shares)	[1]	127,000
Net profit (loss) for the year					(1,675,546)		(1,675,546)
Balance at end at Jun. 30, 2020		$ 15,855	[1]	$ 58,466,864	$ (52,102,296)	$ 14,282,143	$ 20,662,566
Balance at end (in Shares) at Jun. 30, 2020	[1]	12,195,973
[1]	The number of shares of common stock has been retroactively restated to reflect the 1 for 13 reverse stock-split on February 25, 2020

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
OPERATING ACTIVITIES:
Net loss	$ (4,488,638)	$ (1,697,967)
Adjustments to reconciled net loss to net cash used by operating activities:
Depreciation of property and equipment	23,282
Amortization of intangible assets	875,967	50,967
Changes in operating assets and liabilities:
(Increase) decrease in trade and other receivables	(913,621)
(Increase) decrease in amount due from associate	(1,498,000)	(593,250)
(Increase) decrease in prepaid expenses and current other assets	(140,832)
(Increase) decrease in accounts payable	690,538
(Increase) decrease in other accrued liabilities	102,419	43,207
(Increase) decrease in amount due from director		19,000
Net cash provided by (used in) operating activities	(5,348,885)	(2,178,043)
INVESTING ACTIVITIES:
Financial assets held of resale - movement	2,730,363
Net cash and cash equivalents acquired in acquisition
Net restricted cash acquired in acquisition	1,599,572
Net cash provided by (used in) investing activities	4,329,935
FINANCING ACTIVITIES:
Repayment of bank loan	(500,000)
Borrowings under long term loan	10,000
Proceeds from notes payable	503,700
Proceeds from shares to be issued	1,482,485	4,838,301
Proceeds from stock issuance	409,899	1,911,306
Net cash provided by (used in) financing activities	1,906,084	6,749,607
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	887,134	4,571,564
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	2,972,649	731,355
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	3,859,783	5,302,919
NON-CASH TRANSACTION
Issuance of shares for service received	$ 409,899	$ 1,247,056

Organization and Business Descr

Organization and Business Description	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
ORGANIZATION AND BUSINESS DESCRIPTION	NOTE 1 – ORGANIZATION AND BUSINESS DESCRIPTION Weyland Tech Inc. (the “Company”) is a global provider of mobile business applications. Its Platform-as-a-Service (“PaaS”) platform offers a mobile presence to businesses in emerging markets, with partnerships on 3 continents and growing. This Do It Yourself (“DIY”) mobile application platform, offered in 14 languages with over 70 integrated modules, enables small and medium sized businesses (“SMBs”) to create native mobile applications (“apps”) for Apple’s iOS and Google Android without technical knowledge or background, empowering SMBs to increase sales, reach more customers and promote their products and services in an easy, affordable and efficient manner. In May 2018, the Company expanded its portfolio to fintech applications with the launch of its AtozPay mobile payments platform. In the fall of 2019, the Company expanded its portfolio to short-distance food delivery service with the launch of AtozGo. In January 2020, the Company, through its wholly-owned subsidiary, Logiq, Inc. (formerly known as Origin8, Inc.) (“Logiq”), completed the acquisition of substantially all of the assets of Push Holdings, Inc. Logiq operates a consumer data management platform powered by lead generation, online marketing, and multichannel reengagement strategies through its owned and operated brands. Logiq has developed a proprietary data management platform and integrated with several third-party service providers to optimize the return on its marketing efforts. Logiq focuses on consumer engagement and enrichment to maximize it’s return on acquisition through repeat monetization of each consumer. Logiq also licenses its software technology and provides managed technology services to various other e-commerce companies. Logiq is located in Minneapolis, Minnesota, USA The accompanying consolidated financial statements include the financial position of the Company and its wholly owned subsidiary, Logiq, as of June 30, 2020, and the results of operations, changes in stockholders’ equity (deficit), and cash flows for the six month period ended June 30, 2020.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION The financial statements have been prepared on a historical cost basis to reflect the financial position and results of operations of the Company in accordance with the accounting principles generally accepted in the United States of America (“GAAP”). USE OF ESTIMATES The preparation of the Company’s financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management makes its best estimate of the ultimate outcome for these items based on historical trends and other information available when the financial statements are prepared. Actual results could differ from those estimates. PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Logiq. Material intercompany balances and transactions have been eliminated on consolidation. CERTAIN RISKS AND UNCERTAINTIES The Company relies on cloud-based hosting through a global accredited hosting provider. Management believes that alternate sources are available; however, disruption or termination of this relationship could adversely affect our operating results in the near-term. BUSINESS COMBINATIONS The Company accounts for acquisition of entities that include inputs and processes and has the ability to create outputs as business combinations. The Company allocates the purchase price of the acquisition to the tangible assets, liabilities and identifiable intangible assets acquired based on their estimated fair values. The excess of the purchase price over those fair values is recorded as goodwill. Acquisition-related expenses and integration costs are expensed as incurred. SEGMENT REPORTING Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by our chief operating decision maker, or decision- making group, in deciding how to allocate resources and in assessing performance. The Company is focused on mobile commerce enablement via our CreateAPP platform acquired in 2015 and subsequently enhanced in 2016 and 2017, offered on a Platform-as-a-Service (“PaaS”) basis. We identify our reportable segments as those customer groups that represent more than 10% of our combined revenue or gross profit or loss of all reported operating segments. On January 8, 2020, the Company, through its wholly-owned subsidiary, Logiq, completed the acquisition of substantially all of the assets of Push Holdings, Inc. Logiq provides a consumer data management platform powered by lead generation, online marketing, and multichannel reengagement strategies through its owned and operated brands. Logiq develops proprietary technology solutions including, among other things, artificial intelligence powered media buying optimization, customer relationship management, payment processing, and fulfillment and customer lifecycle management platforms. Logiq utilizes its technologies to sell a multitude of products directly to consumers with a focus on recurring subscription based models. Logiq also licenses its software technology and provides managed technology services to various other ecommerce companies. We manage our business on the basis of the two reportable segments: mobile commerce enablement via our CreateAPP platform service provider and consumer data management platform powered by lead generation, online marketing, and multichannel reengagement strategies through its owned and operated brands. The accounting policies for segment reporting are the same as for the Company as a whole. We do not segregate assets by segments since our chief operating decision maker, or decision-making group, does not use assets as a basis to evaluate a segment’s performance. IMPAIRMENT OF LONG-LIVED ASSETS The Company classifies its long-life assets into: (i) computer and office equipment; (ii) furniture and fixtures, (iii) leasehold improvements, and (iv) finite – life intangible assets. Long-life assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not be fully recoverable. It is possible that these assets could become impaired as a result of technology, economy or other industry changes. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-life asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques, including discounted cash flow models, relief from royalty income approach, quoted market values and third-party independent appraisals, as considered necessary. The Company makes various assumptions and estimates regarding estimated future cash flows and other factors in determining the fair values of the respective assets. The assumptions and estimates used to determine future values and remaining useful lives of long-lived assets are complex and subjective. They can be affected by various factors, including external factors such as industry and economic trends, and internal factors such as the Company’s business strategy and its forecasts for specific market expansion. ASSOCIATES Associates are all entities over which the Company has significant influence but not control or joint control, generally accompanying a shareholding interest of between 20% and 50% of the voting rights. Investments in associates are accounted for using the equity method of accounting, after initially being recognized at cost. The Company’s investment in associates includes goodwill identified on acquisition. The Company’s share of its associates’ post-acquisition profits or losses is recognized in profit or loss, and its share of post-acquisition other comprehensive income is recognized in other comprehensive income. The cumulative post-acquisition movements are adjusted against the carrying amount of the investment. Dividends receivable from associates are recognized as a reduction in the carrying amount of the investment. Where the Company’s share of losses in an associate equals or exceeds its interest in the associate, including any other unsecured long-term receivables, the Company does not recognize further losses, unless it has incurred obligations or made payments on behalf of the associate. Unrealized gains on transactions between the group and its associates are eliminated to the extent of the Company’s interest in the associates. Unrealized losses are also eliminated, unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been changed, where necessary, to ensure consistency with the policies adopted by the Company. FINANCIAL ASSETS Financial assets at fair value through profit or loss are stated at fair value, with any resulting gain or loss recognized in profit or loss. The net gain or loss recognized in profit or loss incorporates any dividend or interest earned on the financial asset and is included in ‘other gains and losses’ line in the statement of profit or loss and other comprehensive income. Fair value is determined in the manner described in Note 7. The Company measures certain financial assets at fair value on a recurring basis, including the available-for-sale debt securities. Fair value is the price the Company would receive to sell an asset or pay to transfer a liability in an orderly transaction with a market participant at the measurement date. The Company uses a three-level hierarchy established by the Financial Accounting Standards Board (FASB) that prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach and cost approach). The levels of the fair value hierarchy are described below: ● Level 1: Quoted prices in active markets for identical assets or liabilities. ● Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly; these include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. ● Level 3: Unobservable inputs with little or no market data available, which require the reporting entity to develop its own assumptions. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Financial assets and liabilities are classified in their entirety based on the most conservative level of input that is significant to the fair value measurement. Available-for-sale investments Certain shares and debt securities held by the Company are classified as being available for sale and are stated at fair value. Fair value is determined in the manner described in Note 7. Gains and losses arising from changes in fair value, impairment losses, interest calculated using the effective interest method and foreign exchange gains and losses on monetary assets are recognized directly in profit or loss. Dividends on available-for-sale equity instruments are recognized in profit or loss when the Company’s right to receive payments is established. The fair value of available-for-sale monetary assets denominated in a foreign currency is determined in that foreign currency and translated at the spot rate at the end of the reporting period. The change in fair value attributable to translation differences that result from a change in amortized cost of the available-for-sale monetary asset is recognized in profit or loss, and other changes are recognized in other comprehensive income. PROPERTY AND EQUIPMENT, NET Property and equipment are stated at historical cost, less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which are three to five years for computer and related equipment. Leasehold improvements are amortized over the lesser of the related lease term or their estimated useful life. Expenditures for major renewals and betterments are capitalized, while minor replacements, maintenance and repairs, which do not extend the asset lives, are charged to operations as incurred. Upon sale or disposition, the cost and related accumulated depreciation and amortization are removed from the accounts, and any gain or loss is included in the Company’s results from operations. GOODWILL AND INTANGIBLES ASSETS, NET Goodwill is recorded as the difference between the aggregate consideration paid for in a business combination and the fair value of the acquired net tangible and intangible assets acquired. The Company evaluates goodwill for impairment on an annual basis in the fourth quarter or more frequently if indicators of impairment exist that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. Based on that qualitative assessment, if it is more likely than not that the fair value of a reporting unit is less than its carrying value, the Company conducts a quantitative goodwill impairment test, which involves comparing the estimated fair value of the reporting unit with its carrying value, including goodwill. The Company estimates the fair value of a reporting unit using a combination of the income and market approach. If the carrying value of the reporting unit exceeds its estimated fair value, an impairment loss is recorded for the difference. The Company’s intangible assets consist of software technology which are amortized using the straight-line method over five years. Amortization expenses related to intangible assets for the three months ended June 30, 2020 and 2019 amounted to $437,983 and $25,483, respectively. Amortization expenses related to intangible assets for the six months ended June 30, 2020 and 2019 amounted to $875,966 and $50,966, respectively. RESEARCH AND DEVELOPMENT COSTS Research and development expenses consist primarily of salaries and related expenses, consulting services and other direct expenses and developments to our website, e-commerce, and mobile app and web based digital platforms. We expect our research and development expenses to increase in absolute dollars as we continue to invest in new and existing products and services. ACCOUNTS RECEIVABLE AND CONCENTRATION OF RISK The Company’s CreateApp business effective September 1, 2015 is based on a nil accounts receivable balance as subscriptions are collected on a usage basis. Our subsidiary, Logiq, Inc. (formerly known as Origin8, Inc.), accounts receivable, net is stated at the amount Logiq expects to collect, or the net realizable value. The Company provides a provision for allowances that includes returns, allowances and doubtful accounts equal to the estimated uncollectible amounts. The Company estimates its provision for allowances based on historical collection experience and a review of the current status of trade accounts receivable. It is reasonably possible that the Company’s estimate of the provision for allowances will change. As of June 30, 2020 and 2019, the allowance for bad debt was approximately $54,619 and $0, respectively. CASH AND CASH EQUIVALENTS Cash and cash equivalents represent cash on hand, demand deposits, and other short-term highly liquid investments placed with banks, which have original maturities of twelve months or less and are readily convertible to known amounts of cash. EARNINGS PER SHARE Basic (loss) earnings per share is based on the weighted average number of common shares outstanding during the period while the effects of potential common shares outstanding during the period are included in diluted earnings per share. FASB Accounting Standard Codification Topic 260 (“ASC 260”), “Earnings Per Share,” requires that employee equity share options, non-vested shares and similar equity instruments granted to employees be treated as potential common shares in computing diluted earnings per share. Diluted earnings per share should be based on the actual number of options or shares granted and not yet forfeited, unless doing so would be anti-dilutive. The Company uses the “treasury stock” method for equity instruments granted in share-based payment transactions provided in ASC 260 to determine diluted earnings per share. Antidilutive securities represent potentially dilutive securities which are excluded from the computation of diluted earnings or loss per share as their impact was antidilutive. REVENUE RECOGNITION The Company’s Platform as a Service (“PaaS”) provides the infrastructure allowing users to develop their own applications and IT services, which users can access anywhere via a web or desktop browser. The Company recognizes revenue on a pay-to-use subscription basis when our customers use our platform. For the territories licensed to our distributors and on a white label basis, we derive royalty income from the end user use of our platform on a white label basis. The Company maintains the PaaS software platform at its own cost. Any enhancements and minor customization for our resellers/distributors are not separately billed. Major new proprietary features are billed to the customer separately as development income while re-usable features are added to the features available to all customers on subsequent releases of our platform. Our subsidiary, Logiq, provides a consumer data management platform powered by lead generation, online marketing, and multichannel reengagement strategies through its owned and operated brands. Logiq develops proprietary technology solutions including, among other things, artificial intelligence powered media buying optimization, customer relationship management, payment processing, and fulfillment and customer lifecycle management platforms. Logiq also licenses its software technology and provides managed technology services to various other e-commerce companies. COST OF SERVICE Cost of service comprises fees from third party cloud-based hosting services. Logiq’s cost of revenue comprises online traffic sources. INCOME TAXES The Company uses the asset and liability method of accounting for income taxes in accordance with Accounting Standards Codification (“ASC”) 740, “Income Taxes” (“ASC 740”). Under this method, income tax expense is recognized as the amount of: (i) taxes payable or refundable for the current year and (ii) future tax consequences attributable to differences between financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of available evidence it is more likely than not that some portion or all of the deferred tax assets will not be realized. RECENT ACCOUNTING PRONOUNCEMENTS In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement,” to improve the effectiveness of disclosures in the notes to financial statements related to recurring or nonrecurring fair value measurements by removing amounts and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, policies for timing of transfers between different levels for fair value measurements, and the valuation processes for Level 3 fair value measurements. The new standard requires disclosure of the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The amendments in this update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company does not expect that the adoption of this ASU will have a material impact on its condensed consolidated financial statements. The Company has considered all new accounting pronouncements and has concluded that there are no new pronouncements that may have a material impact on results of operations, financial condition, or cash flows, based on current information.

Intangible Assets, Net

Intangible Assets, Net	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, NET	NOTE 3 – INTANGIBLE ASSETS, NET As of June 30, 2020, and December 31, 2019, the Company has the following amounts related to intangible assets: Software acquired Other intangible assets Logiq technology platform Total Cost at January 1, 2020 $ 1,764,330 $ 5,000 $ - $ 1,769,330 Additions $ - $ - $ 8,250,000 $ 8,250,000 Cost at June 30, 2020 $ 1,764,330 $ 5,000 $ 8,250,000 $ 10,019,330 Amortization Brought forward at January 1, 2020 $ 1,155,732 $ 2,000 $ - $ 1,157,732 Charge for the period $ 50,716 $ 250 $ 825,000 875,966 Accumulated depreciation at June 30, 2020 $ 1,206,448 $ 2,250 $ 825,000 $ 2,033,698 Net intangible assets at June 30, 2020 $ 557,882 $ 2,750 $ 7,425,000 $ 7,985,632 Net intangible assets at December 31, 2019 $ 608,598 $ 3,000 $ - $ 611,598 Amortization expenses related to intangible assets for the three months ended June 30, 2020 and 2019 amounted to $437,983 and $25,483, respectively. Amortization expenses related to intangible assets for the six months ended June 30, 2020 and 2019 amounted to $875,966 and $50,966, respectively. No significant residual value is estimated for these intangible assets. The estimated future amortization expense of intangible costs as of June 30, 2020 in the following fiscal years is as follows: Remaining of 2020 $ 875,966 2021 1,751,932 2022 1,751,932 2023 1,751,932 2024 1,751,932 After 2024 101,938 $ 7,985,632

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	NOTE 4 – PROPERTY AND EQUIPMENT, NET As of June 30, 2020, and December 31, 2019, the Company has the following amounts related to property and equipment: Leasehold Improvements Computers and Equipment Total Cost at January 1, 2020 - - - Additions $ 165,957 $ 59,169 $ 225,126 Cost at June 30, 2020 $ 165,957 $ 59,169 $ 225,126 Amortization Brought forward at January 1, 2020 - - - Charge for the period $ 16,818 $ 6,465 $ 23,282 Accumulated depreciation at June 30, 2020 $ 16,818 $ 6,465 $ 23,282 Net property and equipment assets at June 30, 2020 $ 149,139 $ 52,704 $ 201,843 Net property and equipment assets at December 31, 2019 - - - Depreciation expenses for the three months ended June 30, 2020 and 2019 amounted to $11,641 and $nil, respectively. Depreciation expenses for the six months ended June 30, 2020 and 2019 amounted to $23,282 and $nil, respectively.

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2020
Disclosure Text Block Supplement [Abstract]
GOODWILL	NOTE 5 – GOODWILL As of As of Goodwill at cost $ 4,781,208 - Accumulated impairment losses - - Balance at end of period $ 4,781,208 - Goodwill has been allocated for impairment testing purposes to the acquisition of the assets of Push Holdings Inc.by our wholly-owned subsidiary, Logiq. The recoverable amount of this unit is determined based on external valuation performed by CBI Advisory Partners on March 20, 2020. The assets were valued using a Fair Market Value basis as defined by The Financial Accounting Standards Board (FASB ASC 820-10-20). Liabilities were taken from Push Holdings Inc Consolidated Balance Sheet as of January 8, 2020.

Accounts Receivable

Accounts Receivable	6 Months Ended
	Jun. 30, 2020
Credit Loss, Additional Improvements [Abstract]
ACCOUNTS RECEIVABLE	NOTE 6 – ACCOUNTS RECEIVABLE As of As of Balance as at beginning of period 1 $ - - Additions charges to operations 1,677,293 - Allowance for doubtful debts (54,619 ) - Recoveries - - Balance at end of period 1,622,674 - Movement all in allowance for doubtful debts Balance at beginning of period $ 54,619 Impairment losses recognized - Balance at end of period 54,619 Age of Impaired trade receivables Current $ 1,428,296 1 - 30 days 118,437 31 - 60 days 21,881 61 - 90 days 17,141 91 and over 36,920 Total 1,622,674

Financial Assets

Financial Assets	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
FINANCIAL ASSETS	NOTE 7 – FINANCIAL ASSETS Fair value As of 2020 As of 2019 Assets Liabilities Assets Liabilities Held-for-trading investments $ - - $ 2,730,363 - The investments above include investments in quoted fixed income securities that offer the Company the opportunity for return through interest income and fair value gains. They have various fixed maturity and coupon rate. The fair values of these securities are based on closing quoted market prices on the last market day of the financial year. Fair value of the Company’s financial assets and financial liabilities are measured at fair value on recurring quoted bid prices on an active market basis. All the available for sale financial assets are classified as Level 1 as described in the Company’s accounting policies. These investments were disposed and the proceeds utilized to repay the Company’s loan in note 12 below.

Investment in Associate

Investment in Associate	6 Months Ended
	Jun. 30, 2020
Joint Venture [Abstract]
INVESTMENT IN ASSOCIATE	NOTE 8 – INVESTMENT IN ASSOCIATE On April 23, 2018, the Company participated in the incorporation of a company in Indonesia, PT Weyland Indonesia Perkasa (“WIP’), an Indonesian limited liability company of which the Company held a 49% equity interest with the option to purchase an additional 31% equity interest at a later date. The results of operations of WIP from April 23, 2018 to June 30, 2020 has not been included as the amount had been fully impaired. The Company held a 49% equity interest and a 31% unexercised option in WIP as at December 31, 2018. Due to the continuing legal restructuring in Indonesia, all the conditions precedent had not been satisfied and the 31% option had not been exercised as June 30, 2020. In April 2019, the Company completed the distribution as a dividend in specie, to the Company’s shareholders of record at October 12, 2018 of 49% equity interest in WIP to Weyland AtoZPay Inc. and now holds an equitable interest of 31% in WIP. The Company is in the process of increasing its equity interest in WIP to 51% in order to consolidate the financial results of WIP on a going-forward basis.

Amount Due from Associate

Amount Due from Associate	6 Months Ended
	Jun. 30, 2020
Amount Due From Assocate [Abstract]
AMOUNT DUE FROM ASSOCIATE	NOTE 9 – AMOUNT DUE FROM ASSOCIATE The amount due from Associate is interest free, unsecured with no fixed repayment terms.

Prepayments, Deposit and Other

Prepayments, Deposit and Other Receivables	6 Months Ended
	Jun. 30, 2020
Prepayments Deposit And Other Receivables [Abstract]
PREPAYMENTS, DEPOSIT AND OTHER RECEIVABLES	NOTE 10 – PREPAYMENTS, DEPOSIT AND OTHER RECEIVABLES The following amounts are outstanding at June 30, 2020 and December 31, 2019: As of 2020 As of Deposit $ 1,666,808 $ 1,619,808 Other receivables 1,876 1,876 Prepayments 125,772 20,000 1,794,456 1,641,684

Accruals and Other Payables

Accruals and Other Payables	6 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
ACCRUALS AND OTHER PAYABLE	NOTE 11 – ACCRUALS AND OTHER PAYABLES Accruals and other payable consist of the following: As of 2020 As of 2019 Accruals $ 572,275 298,453 Other payables 252,692 - $ 824,966 298,453

Bank Loan

Bank Loan	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
BANK LOAN	NOTE 12 – BANK LOAN The bank loan is part of a US Line of credit facility dated December 17, 2019 for a maximum principal of $2,296,805 expiring December 17, 2021 at an interest rate of LIBOR +3%. This loan is secured against the Company’s financial asset of $ 2,820,625 as disclosed in note 7 above. In June 2020, this loan was fully repaid from the disposal of the Company’s financial asset.

Income Tax

Income Tax	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAX	NOTE 13 – INCOME TAX The United States of America Weyland Tech, Inc. is incorporated in the State of Delaware in the U.S., and is subject to a gradual U.S. federal corporate income tax of 21%. The Company generated no taxable income for the year ended December 31, 2019 and 2018, and which is subject to U.S. federal corporate income tax rate of 21% and 34%, respectively. As of As of U.S. statutory tax rate 21.00 % 21.00 % Effective tax rate 21.00 % 21.00 % Logiq, Inc. (formerly known as Origin8, Inc.) As of June 30, 2020, this company does not have any deferred tax asset.

Notes Payable

Notes Payable	6 Months Ended
	Jun. 30, 2020
Notes Payable Text Bloc K [Abstract]
NOTES PAYABLE	NOTE 14 –NOTES PAYABLE On April 24, 2020, the Company’s subsidiary Logiq, Inc. (formerly known as Origin8, Inc.) (Logiq the “Company”) received loan proceeds in the amount of $503,700 (the “PPP Loan”) under the Paycheck Protection Program (“PPP”) under the Coronavirus Aid, Relief and Economic Security Act and applicable regulations (the “CARES Act”). Under the terms of the CARES Act, as amended by the Paycheck Protection Program Flexibility Act of 2020, the Company is eligible to apply for and receive forgiveness for all or a portion of its PPP Loan. Such forgiveness will be determined, subject to limitations, based on the use of the loan proceeds for certain permissible purposes as set forth in the PPP, including, but not limited to, payroll costs (as defined under the PPP) and mortgage interest, rent or utility costs (collectively, “Qualifying Expenses”) incurred during the 24 weeks subsequent to funding, and on the maintenance of employee and compensation levels, as defined, following the funding of the PPP Loan. The Company intends to use the proceeds of its PPP Loan for Qualifying Expenses. However, no assurance is provided that the Company will be able to obtain forgiveness of the PPP Loan in whole or in part. Any amounts that are not forgiven incur interest at 1.0% per annum and monthly repayments of principal and interest are deferred until the Small Business Administration makes a determination on forgiveness. While the Company’s PPP Loan currently has a two-year maturity, the amended law will permit the Company to request a five-year maturity.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2020
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	NOTE 15 – STOCKHOLDERS’ EQUITY Common Stock On February 25, 2020, the Company filed a certificate of amendment (the “Certificate of Amendment”) to the Company’s Certificate of Incorporation, as amended, with the Secretary of State of the State of Delaware, to effect a reverse stock split of the Company’s common stock, $0.0001 par value per share (“Common Stock”), at a rate of approximately 1-for-13 (the “Reverse Stock Split”). Upon the filing of the Certificate of Amendment, and the resulting effectiveness of the Reverse Stock Split, every 13 outstanding shares of the Company’s Common Stock were, without any further action by the Company, or any holder thereof, combined into and automatically became 1 share of the Company’s Common Stock. No fractional shares were issued as a result of the Reverse Stock Split. In lieu thereof, fractional shares were cancelled, and stockholders received a cash payment in an amount equal to the fair market value of such fractional shares on the effective date. All shares of Common Stock eliminated as a result of the Reverse Stock Split have been returned to the Company’s authorized and unissued capital stock, and the Company’s capital was reduced by an amount equal to the par value of the shares of Common Stock so retired. The Reverse Stock Split did not change the Company’s current authorized number of shares of Common Stock or its par value. As such, the Company is authorized to issue up to 250,000,000 shares of Common Stock, par value $0.0001. Issuance of Common Stock During the period from January 1, 2015 to June 8, 2015, 580,067,155 shares with par value of $0.0001 per share were issued to various stockholders. During the period from September 2, 2015 to December 31, 2015, 1,163,600 shares with par value of $ 0.0001 per share were issued for legal and professional services, and 10,838,764 shares with par value of $ 0.0001 per share were issued to various stockholders. During the year ended December 31, 2016, 9,747,440 shares with par value of $ 0.0001 per share were issued to various stockholders. During the year ended December 31, 2017, 1,412,000 shares with par value of $ 0.0001 per share were issued for consultancy services received and 1,370,500 shares with par value of $0.0001 per share were issued to various stockholders. During the year ended December 31, 2018, a total of 9,197,104 shares with par value of $ 0.0001 per share were issued for consultancy services received including shares issued to Senior Management, Directors, Operational Staff, Legal Consultants, Strategy Advisors and Technology Consultants received and 4,320,575 shares with par value of $0.0001 per share were issued to various stockholders. In July 2019, the Company issued a total of 51,762,839 Reg S shares to high net worth individuals and family offices in South East Asia. During the year ended December 31, 2019, a total of 19,311,309 shares with par value of $ 0.0001 per share were issued for consultancy services received including shares issued to Senior Management, Directors, Operational Staff, Legal Consultants, Strategy Advisors and Technology Consultants received and 58,627,601 shares with par value of $0.0001 per share were issued to various stockholders. During the period from January 1, 2020 to March 31, 2020, a total of 3,792,515 shares (post reverse split of approximately 13: 1) with par value of $0.0001 per share were issued to various stockholders. During the period from April 1, 2020 to June 30, 2020, a total of 138,500 shares (post reverse split of approximately 13: 1) with par value of $0.0001 per share were issued to various stockholders. Capital reserve On January 9, 2020, the Company issued 35,714,285 shares to Conversion Point Technologies Inc. as consideration for the acquisition of all the assets of Logiq Inc (formerly known as Origin8, Inc.) in the amount of $ 14,284,714 and represents the excess of consideration over the par value of common stock of $0.0001 issued. Cancellation of Common Stock During the year ended December 31, 2016, 1,598,000 shares with par value of $0.0001 per share were cancelled by various stockholders. During the year ended December 31, 2017, 100,000 shares with par value of $0.0001 per share were cancelled by various stockholders. During the year ended December 31, 2018, 62,964 shares with par value of $0.0001 per share were cancelled by various stockholders. During the year ended December 31, 2019, 3,550,000 shares with par value of $0.0001 per share were cancelled. During the quarter ended March 31, 2020, 589 shares (post reverse split of approximately 13: 1) with par value of $0.0001 per share were cancelled. During the quarter ended June 30, 2020, 296,157 shares (post reverse split of approximately 13: 1) with par value of $0.0001 per share were cancelled and reversed previously issued to consultants. Stock-Based Compensation For the three months ended June 30, 2020, a total of 127,000 shares (post reverse split of approximately 13: 1) of common stock were issued as stock-based compensation to consultants.

(Loss) Per Share

(Loss) Per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
(LOSS) PER SHARE	NOTE 16 – (LOSS) PER SHARE The following table sets forth the computation of basic and diluted earnings per common share for the six months ended June 30, 2020 and 2019, respectively: For the three months ended For the six months ended 2020 2019 2020 2019 Numerator - basic and diluted Net (Loss) $ (1,675,546 ) $ (1,671,112 ) $ (4,488,638 ) $ (1,697,968 ) Denominator Weighted average number of common shares outstanding —basic and diluted 12,241,835 3,499,259 11,926,020 3,245,491 (Loss) per common share — basic and diluted $ (0.1369 ) $ (0.4776 ) $ (0.3764 ) $ (0.5232 )

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 17 – COMMITMENTS AND CONTINGENCIES Operating lease The Company’s current executive offices are currently leased for $820 per month. Logiq, effective January 8, 2020, subleases approximately 350 square feet of office space in Irvine, CA, at a rate of $2,900 per month on a month to month basis. Logiq also leases approximately 30,348 square feet comprising 12,313 square feet of office space and 18,217 square feet of warehouse space in Minneapolis, Minnesota, at a rate of $ 367,200 per annum. The leased office space from a related party under common ownership is under a 7.5-year lease expiring December 31, 2021. The lease on the primary offices has a renewal option providing for additional lease periods. The related rent expense for the leases is calculated on a straight-line basis with the difference recorded as deferred rent. The table below includes future minimum lease payments for leases renewed and entered into. Future minimum lease payments under the non-cancelable operating lease agreements are as follows: Remaining of 2020 $ 183,600 2021 $ 367,200 Legal proceedings None.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	NOTE 18 – SEGMENT INFORMATION Segment information Weyland Logiq Total For the three months ended June 30, 2020 External revenue $ 5,653,495 $ 3,661,565 $ 9,315,060 Inter-segment revenue - - - Segment (Loss) before tax $ (444,299 ) $ (1,231,247 ) $ (1,675,546 ) For the three months ended June 30, 2019 External revenue $ 7,141,932 - $ 7,141,932 Inter-segment revenue - - - Segment (Loss) before tax $ (1,671,114 ) - $ (1,671,114 ) Weyland Logiq Total For the six months ended June 30, 2020 External revenue $ 17,439,238 $ 6,857,216 $ 24,296,454 Inter-segment revenue - - - Segment (Loss) before tax $ (2,210,006 ) $ (2,278,632 ) $ (4,488,638 ) For the six months ended June 30, 2019 External revenue $ 15,633,624 - $ 15,633,624 Inter-segment revenue - - - Segment (Loss) before tax $ (1,697,968 ) - $ (1,697,968 )

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 19 – SUBSEQUENT EVENTS The Company is rebranding our corporate name and logo to Logiq Inc.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The financial statements have been prepared on a historical cost basis to reflect the financial position and results of operations of the Company in accordance with the accounting principles generally accepted in the United States of America (“GAAP”).
USE OF ESTIMATES	USE OF ESTIMATES The preparation of the Company’s financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management makes its best estimate of the ultimate outcome for these items based on historical trends and other information available when the financial statements are prepared. Actual results could differ from those estimates.
PRINCIPLES OF CONSOLIDATION	PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Logiq. Material intercompany balances and transactions have been eliminated on consolidation.
Unusual Risks and Uncertainties [Table Text Block]	CERTAIN RISKS AND UNCERTAINTIES The Company relies on cloud-based hosting through a global accredited hosting provider. Management believes that alternate sources are available; however, disruption or termination of this relationship could adversely affect our operating results in the near-term.
BUSINESS COMBINATIONS	BUSINESS COMBINATIONS The Company accounts for acquisition of entities that include inputs and processes and has the ability to create outputs as business combinations. The Company allocates the purchase price of the acquisition to the tangible assets, liabilities and identifiable intangible assets acquired based on their estimated fair values. The excess of the purchase price over those fair values is recorded as goodwill. Acquisition-related expenses and integration costs are expensed as incurred.
SEGMENT REPORTING	SEGMENT REPORTING Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by our chief operating decision maker, or decision- making group, in deciding how to allocate resources and in assessing performance. The Company is focused on mobile commerce enablement via our CreateAPP platform acquired in 2015 and subsequently enhanced in 2016 and 2017, offered on a Platform-as-a-Service (“PaaS”) basis. We identify our reportable segments as those customer groups that represent more than 10% of our combined revenue or gross profit or loss of all reported operating segments. On January 8, 2020, the Company, through its wholly-owned subsidiary, Logiq, completed the acquisition of substantially all of the assets of Push Holdings, Inc. Logiq provides a consumer data management platform powered by lead generation, online marketing, and multichannel reengagement strategies through its owned and operated brands. Logiq develops proprietary technology solutions including, among other things, artificial intelligence powered media buying optimization, customer relationship management, payment processing, and fulfillment and customer lifecycle management platforms. Logiq utilizes its technologies to sell a multitude of products directly to consumers with a focus on recurring subscription based models. Logiq also licenses its software technology and provides managed technology services to various other ecommerce companies. We manage our business on the basis of the two reportable segments: mobile commerce enablement via our CreateAPP platform service provider and consumer data management platform powered by lead generation, online marketing, and multichannel reengagement strategies through its owned and operated brands. The accounting policies for segment reporting are the same as for the Company as a whole. We do not segregate assets by segments since our chief operating decision maker, or decision-making group, does not use assets as a basis to evaluate a segment’s performance. IMPAIRMENT OF LONG-LIVED ASSETS The Company classifies its long-life assets into: (i) computer and office equipment; (ii) furniture and fixtures, (iii) leasehold improvements, and (iv) finite – life intangible assets. Long-life assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not be fully recoverable. It is possible that these assets could become impaired as a result of technology, economy or other industry changes. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-life asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques, including discounted cash flow models, relief from royalty income approach, quoted market values and third-party independent appraisals, as considered necessary. The Company makes various assumptions and estimates regarding estimated future cash flows and other factors in determining the fair values of the respective assets. The assumptions and estimates used to determine future values and remaining useful lives of long-lived assets are complex and subjective. They can be affected by various factors, including external factors such as industry and economic trends, and internal factors such as the Company’s business strategy and its forecasts for specific market expansion. ASSOCIATES Associates are all entities over which the Company has significant influence but not control or joint control, generally accompanying a shareholding interest of between 20% and 50% of the voting rights. Investments in associates are accounted for using the equity method of accounting, after initially being recognized at cost. The Company’s investment in associates includes goodwill identified on acquisition. The Company’s share of its associates’ post-acquisition profits or losses is recognized in profit or loss, and its share of post-acquisition other comprehensive income is recognized in other comprehensive income. The cumulative post-acquisition movements are adjusted against the carrying amount of the investment. Dividends receivable from associates are recognized as a reduction in the carrying amount of the investment. Where the Company’s share of losses in an associate equals or exceeds its interest in the associate, including any other unsecured long-term receivables, the Company does not recognize further losses, unless it has incurred obligations or made payments on behalf of the associate. Unrealized gains on transactions between the group and its associates are eliminated to the extent of the Company’s interest in the associates. Unrealized losses are also eliminated, unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been changed, where necessary, to ensure consistency with the policies adopted by the Company. FINANCIAL ASSETS Financial assets at fair value through profit or loss are stated at fair value, with any resulting gain or loss recognized in profit or loss. The net gain or loss recognized in profit or loss incorporates any dividend or interest earned on the financial asset and is included in ‘other gains and losses’ line in the statement of profit or loss and other comprehensive income. Fair value is determined in the manner described in Note 7. The Company measures certain financial assets at fair value on a recurring basis, including the available-for-sale debt securities. Fair value is the price the Company would receive to sell an asset or pay to transfer a liability in an orderly transaction with a market participant at the measurement date. The Company uses a three-level hierarchy established by the Financial Accounting Standards Board (FASB) that prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach and cost approach). The levels of the fair value hierarchy are described below: ● Level 1: Quoted prices in active markets for identical assets or liabilities. ● Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly; these include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. ● Level 3: Unobservable inputs with little or no market data available, which require the reporting entity to develop its own assumptions. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Financial assets and liabilities are classified in their entirety based on the most conservative level of input that is significant to the fair value measurement. Available-for-sale investments Certain shares and debt securities held by the Company are classified as being available for sale and are stated at fair value. Fair value is determined in the manner described in Note 7. Gains and losses arising from changes in fair value, impairment losses, interest calculated using the effective interest method and foreign exchange gains and losses on monetary assets are recognized directly in profit or loss. Dividends on available-for-sale equity instruments are recognized in profit or loss when the Company’s right to receive payments is established. The fair value of available-for-sale monetary assets denominated in a foreign currency is determined in that foreign currency and translated at the spot rate at the end of the reporting period. The change in fair value attributable to translation differences that result from a change in amortized cost of the available-for-sale monetary asset is recognized in profit or loss, and other changes are recognized in other comprehensive income. PROPERTY AND EQUIPMENT, NET Property and equipment are stated at historical cost, less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which are three to five years for computer and related equipment. Leasehold improvements are amortized over the lesser of the related lease term or their estimated useful life. Expenditures for major renewals and betterments are capitalized, while minor replacements, maintenance and repairs, which do not extend the asset lives, are charged to operations as incurred. Upon sale or disposition, the cost and related accumulated depreciation and amortization are removed from the accounts, and any gain or loss is included in the Company’s results from operations. GOODWILL AND INTANGIBLES ASSETS, NET Goodwill is recorded as the difference between the aggregate consideration paid for in a business combination and the fair value of the acquired net tangible and intangible assets acquired. The Company evaluates goodwill for impairment on an annual basis in the fourth quarter or more frequently if indicators of impairment exist that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. Based on that qualitative assessment, if it is more likely than not that the fair value of a reporting unit is less than its carrying value, the Company conducts a quantitative goodwill impairment test, which involves comparing the estimated fair value of the reporting unit with its carrying value, including goodwill. The Company estimates the fair value of a reporting unit using a combination of the income and market approach. If the carrying value of the reporting unit exceeds its estimated fair value, an impairment loss is recorded for the difference. The Company’s intangible assets consist of software technology which are amortized using the straight-line method over five years. Amortization expenses related to intangible assets for the three months ended June 30, 2020 and 2019 amounted to $437,983 and $25,483, respectively. Amortization expenses related to intangible assets for the six months ended June 30, 2020 and 2019 amounted to $875,966 and $50,966, respectively. RESEARCH AND DEVELOPMENT COSTS Research and development expenses consist primarily of salaries and related expenses, consulting services and other direct expenses and developments to our website, e-commerce, and mobile app and web based digital platforms. We expect our research and development expenses to increase in absolute dollars as we continue to invest in new and existing products and services. ACCOUNTS RECEIVABLE AND CONCENTRATION OF RISK The Company’s CreateApp business effective September 1, 2015 is based on a nil accounts receivable balance as subscriptions are collected on a usage basis. Our subsidiary, Logiq, Inc. (formerly known as Origin8, Inc.), accounts receivable, net is stated at the amount Logiq expects to collect, or the net realizable value. The Company provides a provision for allowances that includes returns, allowances and doubtful accounts equal to the estimated uncollectible amounts. The Company estimates its provision for allowances based on historical collection experience and a review of the current status of trade accounts receivable. It is reasonably possible that the Company’s estimate of the provision for allowances will change. As of June 30, 2020 and 2019, the allowance for bad debt was approximately $54,619 and $0, respectively. CASH AND CASH EQUIVALENTS Cash and cash equivalents represent cash on hand, demand deposits, and other short-term highly liquid investments placed with banks, which have original maturities of twelve months or less and are readily convertible to known amounts of cash. EARNINGS PER SHARE Basic (loss) earnings per share is based on the weighted average number of common shares outstanding during the period while the effects of potential common shares outstanding during the period are included in diluted earnings per share. FASB Accounting Standard Codification Topic 260 (“ASC 260”), “Earnings Per Share,” requires that employee equity share options, non-vested shares and similar equity instruments granted to employees be treated as potential common shares in computing diluted earnings per share. Diluted earnings per share should be based on the actual number of options or shares granted and not yet forfeited, unless doing so would be anti-dilutive. The Company uses the “treasury stock” method for equity instruments granted in share-based payment transactions provided in ASC 260 to determine diluted earnings per share. Antidilutive securities represent potentially dilutive securities which are excluded from the computation of diluted earnings or loss per share as their impact was antidilutive. REVENUE RECOGNITION The Company’s Platform as a Service (“PaaS”) provides the infrastructure allowing users to develop their own applications and IT services, which users can access anywhere via a web or desktop browser. The Company recognizes revenue on a pay-to-use subscription basis when our customers use our platform. For the territories licensed to our distributors and on a white label basis, we derive royalty income from the end user use of our platform on a white label basis. The Company maintains the PaaS software platform at its own cost. Any enhancements and minor customization for our resellers/distributors are not separately billed. Major new proprietary features are billed to the customer separately as development income while re-usable features are added to the features available to all customers on subsequent releases of our platform. Our subsidiary, Logiq, provides a consumer data management platform powered by lead generation, online marketing, and multichannel reengagement strategies through its owned and operated brands. Logiq develops proprietary technology solutions including, among other things, artificial intelligence powered media buying optimization, customer relationship management, payment processing, and fulfillment and customer lifecycle management platforms.
IMPAIRMENT OF LONG-LIVED ASSETS	IMPAIRMENT OF LONG-LIVED ASSETS The Company classifies its long-life assets into: (i) computer and office equipment; (ii) furniture and fixtures, (iii) leasehold improvements, and (iv) finite – life intangible assets. Long-life assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not be fully recoverable. It is possible that these assets could become impaired as a result of technology, economy or other industry changes. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-life asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques, including discounted cash flow models, relief from royalty income approach, quoted market values and third-party independent appraisals, as considered necessary. The Company makes various assumptions and estimates regarding estimated future cash flows and other factors in determining the fair values of the respective assets. The assumptions and estimates used to determine future values and remaining useful lives of long-lived assets are complex and subjective. They can be affected by various factors, including external factors such as industry and economic trends, and internal factors such as the Company’s business strategy and its forecasts for specific market expansion.
ASSOCIATES	ASSOCIATES Associates are all entities over which the Company has significant influence but not control or joint control, generally accompanying a shareholding interest of between 20% and 50% of the voting rights. Investments in associates are accounted for using the equity method of accounting, after initially being recognized at cost. The Company’s investment in associates includes goodwill identified on acquisition. The Company’s share of its associates’ post-acquisition profits or losses is recognized in profit or loss, and its share of post-acquisition other comprehensive income is recognized in other comprehensive income. The cumulative post-acquisition movements are adjusted against the carrying amount of the investment. Dividends receivable from associates are recognized as a reduction in the carrying amount of the investment. Where the Company’s share of losses in an associate equals or exceeds its interest in the associate, including any other unsecured long-term receivables, the Company does not recognize further losses, unless it has incurred obligations or made payments on behalf of the associate. Unrealized gains on transactions between the group and its associates are eliminated to the extent of the Company’s interest in the associates. Unrealized losses are also eliminated, unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been changed, where necessary, to ensure consistency with the policies adopted by the Company.
FINANCIAL ASSETS	FINANCIAL ASSETS Financial assets at fair value through profit or loss are stated at fair value, with any resulting gain or loss recognized in profit or loss. The net gain or loss recognized in profit or loss incorporates any dividend or interest earned on the financial asset and is included in ‘other gains and losses’ line in the statement of profit or loss and other comprehensive income. Fair value is determined in the manner described in Note 7. The Company measures certain financial assets at fair value on a recurring basis, including the available-for-sale debt securities. Fair value is the price the Company would receive to sell an asset or pay to transfer a liability in an orderly transaction with a market participant at the measurement date. The Company uses a three-level hierarchy established by the Financial Accounting Standards Board (FASB) that prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach and cost approach). The levels of the fair value hierarchy are described below: ● Level 1: Quoted prices in active markets for identical assets or liabilities. ● Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly; these include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. ● Level 3: Unobservable inputs with little or no market data available, which require the reporting entity to develop its own assumptions. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Financial assets and liabilities are classified in their entirety based on the most conservative level of input that is significant to the fair value measurement. Available-for-sale investments Certain shares and debt securities held by the Company are classified as being available for sale and are stated at fair value. Fair value is determined in the manner described in Note 7. Gains and losses arising from changes in fair value, impairment losses, interest calculated using the effective interest method and foreign exchange gains and losses on monetary assets are recognized directly in profit or loss. Dividends on available-for-sale equity instruments are recognized in profit or loss when the Company’s right to receive payments is established. The fair value of available-for-sale monetary assets denominated in a foreign currency is determined in that foreign currency and translated at the spot rate at the end of the reporting period. The change in fair value attributable to translation differences that result from a change in amortized cost of the available-for-sale monetary asset is recognized in profit or loss, and other changes are recognized in other comprehensive income.
PROPERTY AND EQUIPMENT, NET	PROPERTY AND EQUIPMENT, NET Property and equipment are stated at historical cost, less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which are three to five years for computer and related equipment. Leasehold improvements are amortized over the lesser of the related lease term or their estimated useful life. Expenditures for major renewals and betterments are capitalized, while minor replacements, maintenance and repairs, which do not extend the asset lives, are charged to operations as incurred. Upon sale or disposition, the cost and related accumulated depreciation and amortization are removed from the accounts, and any gain or loss is included in the Company’s results from operations.
GOODWILL AND INTANGIBLES ASSETS, NET	GOODWILL AND INTANGIBLES ASSETS, NET Goodwill is recorded as the difference between the aggregate consideration paid for in a business combination and the fair value of the acquired net tangible and intangible assets acquired. The Company evaluates goodwill for impairment on an annual basis in the fourth quarter or more frequently if indicators of impairment exist that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. Based on that qualitative assessment, if it is more likely than not that the fair value of a reporting unit is less than its carrying value, the Company conducts a quantitative goodwill impairment test, which involves comparing the estimated fair value of the reporting unit with its carrying value, including goodwill. The Company estimates the fair value of a reporting unit using a combination of the income and market approach. If the carrying value of the reporting unit exceeds its estimated fair value, an impairment loss is recorded for the difference. The Company’s intangible assets consist of software technology which are amortized using the straight-line method over five years. Amortization expenses related to intangible assets for the three months ended June 30, 2020 and 2019 amounted to $437,983 and $25,483, respectively. Amortization expenses related to intangible assets for the six months ended June 30, 2020 and 2019 amounted to $875,966 and $50,966, respectively.
RESEARCH AND DEVELOPMENT COSTS	RESEARCH AND DEVELOPMENT COSTS Research and development expenses consist primarily of salaries and related expenses, consulting services and other direct expenses and developments to our website, e-commerce, and mobile app and web based digital platforms. We expect our research and development expenses to increase in absolute dollars as we continue to invest in new and existing products and services.
ACCOUNTS RECEIVABLE AND CONCENTRATION OF RISK	ACCOUNTS RECEIVABLE AND CONCENTRATION OF RISK The Company’s CreateApp business effective September 1, 2015 is based on a nil accounts receivable balance as subscriptions are collected on a usage basis. Our subsidiary, Logiq, Inc. (formerly known as Origin8, Inc.), accounts receivable, net is stated at the amount Logiq expects to collect, or the net realizable value. The Company provides a provision for allowances that includes returns, allowances and doubtful accounts equal to the estimated uncollectible amounts. The Company estimates its provision for allowances based on historical collection experience and a review of the current status of trade accounts receivable. It is reasonably possible that the Company’s estimate of the provision for allowances will change. As of June 30, 2020 and 2019, the allowance for bad debt was approximately $54,619 and $0, respectively.
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS Cash and cash equivalents represent cash on hand, demand deposits, and other short-term highly liquid investments placed with banks, which have original maturities of twelve months or less and are readily convertible to known amounts of cash.
EARNINGS PER SHARE	EARNINGS PER SHARE Basic (loss) earnings per share is based on the weighted average number of common shares outstanding during the period while the effects of potential common shares outstanding during the period are included in diluted earnings per share. FASB Accounting Standard Codification Topic 260 (“ASC 260”), “Earnings Per Share,” requires that employee equity share options, non-vested shares and similar equity instruments granted to employees be treated as potential common shares in computing diluted earnings per share. Diluted earnings per share should be based on the actual number of options or shares granted and not yet forfeited, unless doing so would be anti-dilutive. The Company uses the “treasury stock” method for equity instruments granted in share-based payment transactions provided in ASC 260 to determine diluted earnings per share. Antidilutive securities represent potentially dilutive securities which are excluded from the computation of diluted earnings or loss per share as their impact was antidilutive.
REVENUE RECOGNITION	REVENUE RECOGNITION The Company’s Platform as a Service (“PaaS”) provides the infrastructure allowing users to develop their own applications and IT services, which users can access anywhere via a web or desktop browser. The Company recognizes revenue on a pay-to-use subscription basis when our customers use our platform. For the territories licensed to our distributors and on a white label basis, we derive royalty income from the end user use of our platform on a white label basis. The Company maintains the PaaS software platform at its own cost. Any enhancements and minor customization for our resellers/distributors are not separately billed. Major new proprietary features are billed to the customer separately as development income while re-usable features are added to the features available to all customers on subsequent releases of our platform. Our subsidiary, Logiq, provides a consumer data management platform powered by lead generation, online marketing, and multichannel reengagement strategies through its owned and operated brands. Logiq develops proprietary technology solutions including, among other things, artificial intelligence powered media buying optimization, customer relationship management, payment processing, and fulfillment and customer lifecycle management platforms. Logiq also licenses its software technology and provides managed technology services to various other e-commerce companies.
COST OF SERVICE	COST OF SERVICE Cost of service comprises fees from third party cloud-based hosting services. Logiq’s cost of revenue comprises online traffic sources.
INCOME TAXES	INCOME TAXES The Company uses the asset and liability method of accounting for income taxes in accordance with Accounting Standards Codification (“ASC”) 740, “Income Taxes” (“ASC 740”). Under this method, income tax expense is recognized as the amount of: (i) taxes payable or refundable for the current year and (ii) future tax consequences attributable to differences between financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of available evidence it is more likely than not that some portion or all of the deferred tax assets will not be realized.
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement,” to improve the effectiveness of disclosures in the notes to financial statements related to recurring or nonrecurring fair value measurements by removing amounts and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, policies for timing of transfers between different levels for fair value measurements, and the valuation processes for Level 3 fair value measurements. The new standard requires disclosure of the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The amendments in this update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company does not expect that the adoption of this ASU will have a material impact on its condensed consolidated financial statements. The Company has considered all new accounting pronouncements and has concluded that there are no new pronouncements that may have a material impact on results of operations, financial condition, or cash flows, based on current information.

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	Software acquired Other intangible assets Logiq technology platform Total Cost at January 1, 2020 $ 1,764,330 $ 5,000 $ - $ 1,769,330 Additions $ - $ - $ 8,250,000 $ 8,250,000 Cost at June 30, 2020 $ 1,764,330 $ 5,000 $ 8,250,000 $ 10,019,330 Amortization Brought forward at January 1, 2020 $ 1,155,732 $ 2,000 $ - $ 1,157,732 Charge for the period $ 50,716 $ 250 $ 825,000 875,966 Accumulated depreciation at June 30, 2020 $ 1,206,448 $ 2,250 $ 825,000 $ 2,033,698 Net intangible assets at June 30, 2020 $ 557,882 $ 2,750 $ 7,425,000 $ 7,985,632 Net intangible assets at December 31, 2019 $ 608,598 $ 3,000 $ - $ 611,598
Schedule of estimated future amortization expense of intangible costs	Remaining of 2020 $ 875,966 2021 1,751,932 2022 1,751,932 2023 1,751,932 2024 1,751,932 After 2024 101,938 $ 7,985,632

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Leasehold Improvements Computers and Equipment Total Cost at January 1, 2020 - - - Additions $ 165,957 $ 59,169 $ 225,126 Cost at June 30, 2020 $ 165,957 $ 59,169 $ 225,126 Amortization Brought forward at January 1, 2020 - - - Charge for the period $ 16,818 $ 6,465 $ 23,282 Accumulated depreciation at June 30, 2020 $ 16,818 $ 6,465 $ 23,282 Net property and equipment assets at June 30, 2020 $ 149,139 $ 52,704 $ 201,843 Net property and equipment assets at December 31, 2019 - - -

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 2020
Disclosure Text Block Supplement [Abstract]
Schedule of goodwill	As of As of Goodwill at cost $ 4,781,208 - Accumulated impairment losses - - Balance at end of period $ 4,781,208 -

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2020
Credit Loss, Additional Improvements [Abstract]
Schedule of accounts receivable	As of As of Balance as at beginning of period 1 $ - - Additions charges to operations 1,677,293 - Allowance for doubtful debts (54,619 ) - Recoveries - - Balance at end of period 1,622,674 -
Schedule of allowance for doubtful debts	Balance at beginning of period $ 54,619 Impairment losses recognized - Balance at end of period 54,619
Schedule of impaired trade receivables	Current $ 1,428,296 1 - 30 days 118,437 31 - 60 days 21,881 61 - 90 days 17,141 91 and over 36,920 Total 1,622,674

Financial Assets (Tables)

Financial Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of fair value	Fair value As of 2020 As of 2019 Assets Liabilities Assets Liabilities Held-for-trading investments $ - - $ 2,730,363 -

Prepayments, Deposit and Othe_2

Prepayments, Deposit and Other Receivables (Tables)	6 Months Ended
	Jun. 30, 2020
Prepayments Deposit And Other Receivables [Abstract]
Schedule of prepayments deposits and other receivables outstanding	As of 2020 As of Deposit $ 1,666,808 $ 1,619,808 Other receivables 1,876 1,876 Prepayments 125,772 20,000 1,794,456 1,641,684

Accruals and Other Payables (Ta

Accruals and Other Payables (Tables)	6 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Schedule of accruals and other payable	As of 2020 As of 2019 Accruals $ 572,275 298,453 Other payables 252,692 - $ 824,966 298,453

Income Tax (Tables)

Income Tax (Tables)	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Schedule of statutory rates and tax rate	As of As of U.S. statutory tax rate 21.00 % 21.00 % Effective tax rate 21.00 % 21.00 %

(Loss) Per Share (Tables)

(Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of basic and diluted earnings per common share	For the three months ended For the six months ended 2020 2019 2020 2019 Numerator - basic and diluted Net (Loss) $ (1,675,546 ) $ (1,671,112 ) $ (4,488,638 ) $ (1,697,968 ) Denominator Weighted average number of common shares outstanding —basic and diluted 12,241,835 3,499,259 11,926,020 3,245,491 (Loss) per common share — basic and diluted $ (0.1369 ) $ (0.4776 ) $ (0.3764 ) $ (0.5232 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum lease payments under the non cancelable operating lease agreements	Remaining of 2020 $ 183,600 2021 $ 367,200

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Schedule of segment information	Weyland Logiq Total For the three months ended June 30, 2020 External revenue $ 5,653,495 $ 3,661,565 $ 9,315,060 Inter-segment revenue - - - Segment (Loss) before tax $ (444,299 ) $ (1,231,247 ) $ (1,675,546 ) For the three months ended June 30, 2019 External revenue $ 7,141,932 - $ 7,141,932 Inter-segment revenue - - - Segment (Loss) before tax $ (1,671,114 ) - $ (1,671,114 ) Weyland Logiq Total For the six months ended June 30, 2020 External revenue $ 17,439,238 $ 6,857,216 $ 24,296,454 Inter-segment revenue - - - Segment (Loss) before tax $ (2,210,006 ) $ (2,278,632 ) $ (4,488,638 ) For the six months ended June 30, 2019 External revenue $ 15,633,624 - $ 15,633,624 Inter-segment revenue - - - Segment (Loss) before tax $ (1,697,968 ) - $ (1,697,968 )

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)
Summary of Significant Accounting Policies (Details) [Line Items]
Number of reportable segments | Segment			2
Amortization expenses	$ 437,983	$ 25,483	$ 875,966	$ 50,966
Allowance for bad debt			$ 54,619	$ 0
Minimum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Shareholders voting rights			20.00%
Maximum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Shareholders voting rights			50.00%

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense related to intangible assets	$ 437,983	$ 25,483	$ 875,966	$ 50,966

Intangible Assets, Net (Detai_2

Intangible Assets, Net (Details) - Schedule of intangible assets	6 Months Ended
	Jun. 30, 2020USD ($)
Intangible Assets, Net (Details) - Schedule of intangible assets [Line Items]
Cost at January 1, 2020	$ 1,769,330
Additions	8,250,000
Cost at June 30, 2020	10,019,330
Amortization
Brought forward at January 1, 2020	1,157,732
Charge for the period	875,966
Accumulated depreciation at June 30, 2020	2,033,698
Net intangible assets at June 30, 2020	7,985,632
Net intangible assets at December 31, 2019	611,598
Other Intangible Assets [Member]
Intangible Assets, Net (Details) - Schedule of intangible assets [Line Items]
Cost at January 1, 2020	5,000
Additions
Cost at June 30, 2020	5,000
Amortization
Brought forward at January 1, 2020	2,000
Charge for the period	250
Accumulated depreciation at June 30, 2020	2,250
Net intangible assets at June 30, 2020	2,750
Net intangible assets at December 31, 2019	3,000
Software acquired (Member)
Intangible Assets, Net (Details) - Schedule of intangible assets [Line Items]
Cost at January 1, 2020	1,764,330
Additions
Cost at June 30, 2020	1,764,330
Amortization
Brought forward at January 1, 2020	1,155,732
Charge for the period	50,716
Accumulated depreciation at June 30, 2020	1,206,448
Net intangible assets at June 30, 2020	557,882
Net intangible assets at December 31, 2019	608,598
Logiq technology platform [Member]
Intangible Assets, Net (Details) - Schedule of intangible assets [Line Items]
Cost at January 1, 2020
Additions	8,250,000
Cost at June 30, 2020	8,250,000
Amortization
Brought forward at January 1, 2020
Charge for the period	825,000
Accumulated depreciation at June 30, 2020	825,000
Net intangible assets at June 30, 2020	7,425,000
Net intangible assets at December 31, 2019

Intangible Assets, Net (Detai_3

Intangible Assets, Net (Details) - Schedule of estimated future amortization expense of intangible costs	Jun. 30, 2020USD ($)
Schedule of estimated future amortization expense of intangible costs [Abstract]
Remaining of 2020	$ 875,966
2021	1,751,932
2022	1,751,932
2023	1,751,932
2024	1,751,932
After 2024	101,938
Total	$ 7,985,632

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 11,641		$ 23,282

Property and Equipment, Net (_2

Property and Equipment, Net (Details) - Schedule of Property and Equipment, Net	6 Months Ended
	Jun. 30, 2020USD ($)
Property, Plant and Equipment [Line Items]
Cost at January 1, 2020
Additions	225,126
Cost at June 30, 2020	225,126
Amortization
Brought forward at January 1, 2020
Charge for the period	23,282
Accumulated depreciation at June 30, 2020	23,282
Net property and equipment assets at June 30, 2020	201,843
Net property and equipment assets at December 31, 2019
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Cost at January 1, 2020
Additions	165,957
Cost at June 30, 2020	165,957
Amortization
Brought forward at January 1, 2020
Charge for the period	16,818
Accumulated depreciation at June 30, 2020	16,818
Net property and equipment assets at June 30, 2020	149,139
Net property and equipment assets at December 31, 2019
Computers and Equipment [Member]
Property, Plant and Equipment [Line Items]
Cost at January 1, 2020
Additions	59,169
Cost at June 30, 2020	59,169
Amortization
Brought forward at January 1, 2020
Charge for the period	6,465
Accumulated depreciation at June 30, 2020	6,465
Net property and equipment assets at June 30, 2020	52,704
Net property and equipment assets at December 31, 2019

Goodwill (Details) - Schedule o

Goodwill (Details) - Schedule of goodwill - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Schedule of goodwill [Abstract]
Goodwill at cost	$ 4,781,208
Accumulated impairment losses
Balance at end of period	$ 4,781,208

Accounts Receivable (Details) -

Accounts Receivable (Details) - Schedule of accounts receivable - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Schedule of accounts receivable [Abstract]
Balance as at January 1
Additions charges to operations	1,677,293
Allowance for doubtful debts	(54,619)
Recoveries
Balance at end of period	$ 1,622,674

Accounts Receivable (Details)_2

Accounts Receivable (Details) - Schedule of allowance for doubtful debts	6 Months Ended
	Jun. 30, 2020USD ($)
Schedule of allowance for doubtful debts [Abstract]
Balance at beginning of period	$ 54,619
Impairment losses recognized
Balance at end of period	$ 54,619

Accounts Receivable (Details)_3

Accounts Receivable (Details) - Schedule of impaired trade receivables	Jun. 30, 2020USD ($)
Financing Receivable, Impaired [Line Items]
Current	$ 1,428,296
Total	1,622,674
1 - 30 days [Member]
Financing Receivable, Impaired [Line Items]
Current	118,437
31 - 60 days [Member]
Financing Receivable, Impaired [Line Items]
Current	21,881
61 - 90 days [Member]
Financing Receivable, Impaired [Line Items]
Current	17,141
91 and over [Member]
Financing Receivable, Impaired [Line Items]
Current	$ 36,920

Financial Assets (Details) - Sc

Financial Assets (Details) - Schedule of fair value - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Schedule of fair value [Abstract]
Fair value of assets		$ 2,730,363
Fair value of liabilities

Investment in Associate (Detail

Investment in Associate (Details)	1 Months Ended		12 Months Ended
	Apr. 30, 2019	Apr. 23, 2018	Dec. 31, 2018	Jun. 30, 2020
Joint Venture [Abstract]
Option to Purchase Equity, Description	the Company’s shareholders of record at October 12, 2018 of 49% equity interest in WIP to Weyland AtoZPay Inc. and now holds an equitable interest of 31% in WIP.	an additional 31% equity interest at a later date.	a 31% unexercised option in WIP as at December 31, 2018. Due to the continuing legal restructuring in Indonesia, all the conditions precedent had not been satisfied and the 31% option had not been exercised as June 30, 2020.
Company ownership	49.00%	49.00%	49.00%	51.00%

Prepayments, Deposit and Othe_3

Prepayments, Deposit and Other Receivables (Details) - Schedule of prepayments deposits and other receivables outstanding - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Schedule of prepayments deposits and other receivables outstanding [Abstract]
Deposit	$ 1,666,808	$ 1,619,808
Other receivables	1,876	1,876
Prepayments	125,772	20,000
Prepayments, deposits and other receivables	$ 1,794,456	$ 1,641,684

Accruals and Other Payables (De

Accruals and Other Payables (Details) - Schedule of accruals and other payable - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Schedule of accruals and other payable [Abstract]
Accruals	$ 572,275	$ 298,453
Other payables	252,692
Total payables	$ 824,966	$ 298,453

Bank Loan (Details)

Bank Loan (Details)	1 Months Ended
	Dec. 17, 2019USD ($)
Bank Loan (Textual)
Principal of bank loan	$ 2,296,805
Expiring date	Dec. 17, 2021
Interest rate, description	LIBOR +3%.
Line of credit facility security, description	This loan is secured against the Company’s financial asset of $ 2,820,625

Income Tax (Details)

Income Tax (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax (Textual)
U.S. federal corporate income tax	21.00%	21.00%	34.00%

Income Tax (Details) - Schedule

Income Tax (Details) - Schedule of statutory rates and tax rate	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Schedule of statutory rates and tax rate [Abstract]
U.S. statutory tax rate	21.00%	21.00%
Effective tax rate	21.00%	21.00%

Notes Payable (Details)

Notes Payable (Details) - USD ($)	1 Months Ended	6 Months Ended
	Apr. 24, 2020	Jun. 30, 2020
Notes Payable (Textual)
Loan proceeds	$ 503,700	$ 503,700
Notes payable, description	Any amounts that are not forgiven incur interest at 1.0% per annum and monthly repayments of principal and interest are deferred until the Small Business Administration makes a determination on forgiveness. While the Company’s PPP Loan currently has a two-year maturity, the amended law will permit the Company to request a five-year maturity

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)		Jan. 09, 2020	Feb. 25, 2020	Jul. 31, 2019	Jun. 30, 2020		Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2015	Jun. 08, 2015	Jun. 30, 2020		Dec. 31, 2019		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Stockholders' Equity (Details) [Line Items]
Reverse stock split, description			On February 25, 2020, the Company filed a certificate of amendment (the “Certificate of Amendment”) to the Company’s Certificate of Incorporation, as amended, with the Secretary of State of the State of Delaware, to effect a reverse stock split of the Company’s common stock, $0.0001 par value per share (“Common Stock”), at a rate of approximately 1-for-13 (the “Reverse Stock Split”).									Upon the filing of the Certificate of Amendment, and the resulting effectiveness of the Reverse Stock Split, every 13 outstanding shares of the Company’s Common Stock were, without any further action by the Company, or any holder thereof, combined into and automatically became 1 share of the Company’s Common Stock.
Common stock par value			$ 0.0001		$ 0.0001	[1]				$ 0.0001	$ 0.0001	$ 0.0001	[1]	$ 0.0001	[1]
Common stock shares authorized	[1]				250,000,000							250,000,000		250,000,000
Issuance of common stock shares											580,067,155							9,747,440
Issuance of common stock for services							3,792,515			1,163,600				19,311,309		9,197,104	1,412,000
Common stock shares					138,500					10,838,764						4,320,575	1,370,500
Share price							$ 0.0001			$ 0.0001				$ 0.0001		$ 0.0001	$ 0.0001	$ 0.0001
Share price					$ 0.0001							$ 0.0001				$ 0.0001	0.0001
Shares of common stock		35,714,285		51,762,839
Value of common stock		$ 14,284,714
Sale of stock price per share		$ 0.0001
Stock-based compensation					$ 127,000
Common Stock [Member]
Stockholders' Equity (Details) [Line Items]
Common stock shares	[1]				11,500		3,355,012	9,983,688	5,103,121
Share price					$ 0.0001		$ 0.0001					$ 0.0001		$ 0.0001			$ 0.0001	$ 0.0001
Cancellation of shares					296,157		589							3,550,000		62,964	100,000	1,598,000
Directors [Member]
Stockholders' Equity (Details) [Line Items]
Common stock shares														58,627,601
Share price														$ 0.0001		$ 0.0001
[1]	The number of shares of common stock has been retroactively restated to reflect the 1 for 13 reverse stock-split on February 25, 2020

(Loss) Per Share (Details) - Sc

(Loss) Per Share (Details) - Schedule of basic and diluted earnings per common share - USD ($)		3 Months Ended				6 Months Ended
		Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator - basic and diluted
Net (Loss)		$ (1,675,546)	$ (2,813,092)	$ (1,671,112)	$ (26,853)	$ (4,488,638)	$ (1,697,968)
Denominator
Weighted average number of common shares outstanding -basic and diluted	[1]	12,241,835		3,499,259		11,926,020	3,245,491
(Loss) per common share - basic and diluted		$ (0.1369)		$ (0.4776)		$ (0.3764)	$ (0.5232)
[1]	The weighted average number of shares of common stock has been retroactively restated to reflect the 1 for 13 reverse stock-split on February 25, 2020

Commitments and Contingencies_2

Commitments and Contingencies (Details)	6 Months Ended
	Jun. 30, 2020USD ($)
Commitments and Contingencies (Details) [Line Items]
Lease rent per month (in Dollars)	$ 820
Minneapolis, Minnesota [Member]
Commitments and Contingencies (Details) [Line Items]
Lease rent per month (in Dollars)	367,200
Irvine, CA [Member] | Office space [Member]
Commitments and Contingencies (Details) [Line Items]
Lease rent per month (in Dollars)	$ 2,900
Lease space	350
Minneapolis, Minnesota [Member]
Commitments and Contingencies (Details) [Line Items]
Lease space	30,348
Lease expiration date	Dec. 31, 2021
Lease Term	7 years 6 months
Minneapolis, Minnesota [Member] | Office space [Member]
Commitments and Contingencies (Details) [Line Items]
Lease space	12,313
Minneapolis, Minnesota [Member] | Warehouse space [Member]
Commitments and Contingencies (Details) [Line Items]
Lease space	18,217

Commitments and Contingencies_3

Commitments and Contingencies (Details) - Schedule of future minimum lease payments under the non cancelable operating lease agreements	Jun. 30, 2020USD ($)
Schedule of future minimum lease payments under the non cancelable operating lease agreements [Abstract]
Remaining of 2020	$ 183,600
2021	$ 367,200

Segment Information (Details) -

Segment Information (Details) - Schedule of segment information - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
External revenue	$ 9,315,060	$ 7,141,932	$ 24,296,454	$ 15,633,624
Inter-segment revenue
Segment (Loss) before tax	(1,675,546)	(1,671,114)	(4,488,638)	(1,697,968)
Weyland Tech Inc. [Member]
Segment Reporting Information [Line Items]
External revenue	5,653,495	7,141,932	17,439,238	15,633,624
Inter-segment revenue
Segment (Loss) before tax	(444,299)	(1,671,114)	(2,210,006)	(1,697,968)
Logiq [Member]
Segment Reporting Information [Line Items]
External revenue	3,661,565		6,857,216
Inter-segment revenue
Segment (Loss) before tax	$ (1,231,247)		$ (2,278,632)