Vivic (VIVC) 10-Q 14 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2022	Nov. 14, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	333-219148
Entity Registrant Name	VIVIC CORP.
Entity Central Index Key	0001703073
Entity Tax Identification Number	98-1353606
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	187 E Warm Springs Rd., PMB#B450
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89119
City Area Code	702
Local Phone Number	899-0818
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		25,546,810

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 57,817	$ 80,306
Accounts receivable, net		928
Deposits and prepayments	249,550	105,011
Inventory	1,460,638	163,975
Other current assets	112,853	189,468
Total current assets	1,880,858	539,688
Non-current assets:
Long-term investment		61,191
Property and equipment, net	72,464	92,357
Intangible assets, net	6,237
Construction in process	209,012	185,667
Operating lease right-of-use assets	371,327	534,231
Other noncurrent assets	28,493	38,950
TOTAL ASSETS	2,568,391	1,452,084
Current liabilities:
Accounts payable	625,368	19,265
Accrued liabilities and other payables	480,232	203,847
Due to related parties	358,520	469,748
Deferred revenue	1,463,833	204,442
Operating lease liabilities-current	118,600	141,725
Income tax payable
Total current liabilities	3,046,553	1,039,027
Non-current liabilities:
Operating lease liabilities-noncurrent	263,349	422,948
Promissory note	87,500	87,500
Total Liabilities	3,397,402	1,549,475
Shareholders’ deficit
Preferred stock, $0.001 par value; 5,000,000 shares authorized; 832,000 shares issued and outstanding as of September 30, 2022 and December 31, 2021	832	832
Common stock, $0.001 par value; 70,000,000 shares authorized; 25,546,810 and 25,556,810 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively.	25,547	25,557
Additional paid-in capital	3,745,463	3,821,709
Accumulated other comprehensive income	23,185	10,347
Accumulated deficit	(4,624,038)	(3,865,450)
Total Vivic Corp. shareholders’ deficit	(829,011)	(7,005)
Non-controlling interest		(90,386)
Total shareholders deficit	(829,011)	(97,391)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT	$ 2,568,391	$ 1,452,084

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred Stock, par Value	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Preferred Stock, Shares Issued	832,000	832,000
Preferred Stock, Shares Outstanding	832,000	832,000
Common Stock, par Value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	70,000,000	70,000,000
Common Stock, Shares, Issued	25,546,810	25,556,810
Common Stock, Shares, Outstanding	25,546,810	25,556,810

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
REVENUE	$ 25,479	$ 109,957	$ 37,347	$ 178,931
Cost of revenue	(28,811)	(42,850)	(38,701)	(282,437)
Gross profit	(3,332)	67,107	(1,354)	(103,506)
Operating expenses:
General and administrative expenses	(283,016)	(321,310)	(847,387)	(763,397)
Total operating expenses	(283,016)	(321,310)	(847,387)	(763,397)
Loss from operations	(286,348)	(254,203)	(848,741)	(866,903)
Other income (expense):
Impairment of goodwill		(89,559)		(89,559)
Investment gain (loss)	(1,130)	(22,190)	59,206	(54,676)
Interest income	26	56	377	245
Interest expense	(819)	(8,714)	(7,449)	(16,057)
Other income	(42)	170,658	2,158	175,264
Loss on loan settlement		(170,355)	(2,000)	(1,340,664)
Exchange gain, net
Total other income (expense)	(1,965)	(120,104)	52,292	(1,325,447)
Loss before income taxes	(288,313)	(374,307)	(796,449)	(2,192,350)
Income taxes		459	9	459
NET LOSS	(288,313)	(374,766)	(796,458)	(2,192,809)
Net loss attributable to non-controlling interest	(3,312)	(14,384)	(37,870)	(82,949)
Net loss attributable to Vivic Corp.	(285,001)	(360,382)	(758,588)	(2,109,860)
Other comprehensive gain (loss):
Foreign currency translation gain (loss)	16,771	(49)	12,838	2,840
COMRPEHENSIVE LOSS	$ (268,230)	$ (360,431)	$ (745,750)	$ (2,107,020)
Net loss per share – Basic and Diluted	$ (0.01)	$ (0.01)	$ (0.03)	$ (0.09)
Weighted average common shares outstanding – Basic and Diluted	25,546,810	25,496,209	25,550,253	25,132,189

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' (DEFICIT) EQUITY - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Beginning balance, value at Dec. 31, 2020	$ 832	$ 24,470	$ 1,341,155	$ (2,240)	$ (1,300,505)	$ 84,298	$ 148,010
Shares, Outstanding, Beginning Balance at Dec. 31, 2020	832,000	24,470,166
Shares issued for loan settlement		$ 469	1,124,862				1,125,331
Debt Conversion, Converted Instrument, Shares Issued		468,888
Foreign currency translation adjustment				(5,488)			(5,488)
Net loss					(886,161)	(11,146)	(897,307)
Ending balance, value at Mar. 31, 2021	$ 832	$ 24,939	2,466,017	(7,728)	(2,186,666)	73,152	370,546
Shares, Outstanding, Ending Balance at Mar. 31, 2021	832,000	24,939,054
Beginning balance, value at Dec. 31, 2020	$ 832	$ 24,470	1,341,155	(2,240)	(1,300,505)	84,298	148,010
Shares, Outstanding, Beginning Balance at Dec. 31, 2020	832,000	24,470,166
Foreign currency translation adjustment							2,840
Net loss							(2,192,809)
Ending balance, value at Sep. 30, 2021	$ 832	$ 25,557	3,821,710	600	(3,410,365)	(75,451)	362,883
Shares, Outstanding, Ending Balance at Sep. 30, 2021	832,000	25,556,810
Beginning balance, value at Mar. 31, 2021	$ 832	$ 24,939	2,466,017	(7,728)	(2,186,666)	73,152	370,546
Shares, Outstanding, Beginning Balance at Mar. 31, 2021	832,000	24,939,054
Shares issued for loan settlement		$ 463	971,602				972,065
Debt Conversion, Converted Instrument, Shares Issued		462,888
Foreign currency translation adjustment				8,377			8,377
Net loss					(863,317)	(57,419)	(920,736)
Ending balance, value at Jun. 30, 2021	$ 832	$ 25,402	3,437,619	649	(3,049,983)	15,733	430,252
Shares, Outstanding, Ending Balance at Jun. 30, 2021	832,000	25,401,942
Shares issued for loan settlement		$ 155	325,068				325,223
Debt Conversion, Converted Instrument, Shares Issued		154,868
Foreign currency translation adjustment				(49)			(49)
Net loss					(360,382)	(14,384)	(374,766)
Shares issued for acquiring ownership of subsidiary			59,023			(76,800)	(17,777)
Ending balance, value at Sep. 30, 2021	$ 832	$ 25,557	3,821,710	600	(3,410,365)	(75,451)	362,883
Shares, Outstanding, Ending Balance at Sep. 30, 2021	832,000	25,556,810
Beginning balance, value at Dec. 31, 2021	$ 832	$ 25,557	3,821,709	10,347	(3,865,450)	(90,386)	(97,391)
Shares, Outstanding, Beginning Balance at Dec. 31, 2021	832,000	25,556,810
Cancellation of shares		$ (60)	60
Stock Repurchased and Retired During Period, Shares		(60,000)
Shares issued for loan settlement		$ 50	51,950				52,000
Debt Conversion, Converted Instrument, Shares Issued		50,000
Foreign currency translation adjustment				4,185			4,185
Net loss					(175,164)	(11,249)	(186,413)
Ending balance, value at Mar. 31, 2022	$ 832	$ 25,547	3,873,719	14,532	(4,040,614)	(101,635)	(227,619)
Shares, Outstanding, Ending Balance at Mar. 31, 2022	832,000	25,546,810
Beginning balance, value at Dec. 31, 2021	$ 832	$ 25,557	3,821,709	10,347	(3,865,450)	(90,386)	(97,391)
Shares, Outstanding, Beginning Balance at Dec. 31, 2021	832,000	25,556,810
Foreign currency translation adjustment							12,838
Net loss							(796,458)
Ending balance, value at Sep. 30, 2022	$ 832	$ 25,547	3,745,463	23,185	(4,624,038)		(829,011)
Shares, Outstanding, Ending Balance at Sep. 30, 2022	832,000	25,546,810
Beginning balance, value at Mar. 31, 2022	$ 832	$ 25,547	3,873,719	14,532	(4,040,614)	(101,635)	(227,619)
Shares, Outstanding, Beginning Balance at Mar. 31, 2022	832,000	25,546,810
Foreign currency translation adjustment				(8,118)			(8,118)
Net loss					(298,423)	(23,309)	(321,732)
Ending balance, value at Jun. 30, 2022	$ 832	$ 25,547	3,873,719	6,414	(4,339,037)	(124,944)	(557,469)
Shares, Outstanding, Ending Balance at Jun. 30, 2022	832,000	25,546,810
Foreign currency translation adjustment				16,771			16,771
Net loss					(285,001)	(3,312)	(288,313)
Shares issued for acquiring ownership of subsidiary			(128,256)			128,256
Ending balance, value at Sep. 30, 2022	$ 832	$ 25,547	$ 3,745,463	$ 23,185	$ (4,624,038)		$ (829,011)
Shares, Outstanding, Ending Balance at Sep. 30, 2022	832,000	25,546,810

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net loss	$ (796,458)	$ (2,192,809)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	12,203	34,917
Amortization of right-of-use assets	121,082	43,030
Bad debt direct write-off and provision	3,922
Interest expense	7,449	16,057
Investment gain (loss)	(59,206)	54,676
Impairment of goodwill		89,559
Loss on loan settlement	2,000	1,340,664
Change in operating assets and liabilities:
Accounts receivable		(1,642)
Deposits and prepayments	76,615	(50,686)
Other receivable	(147,568)	(22,307)
Inventory	(1,296,663)	(160,159)
Other non-current assets	10,457	(85,570)
Deferred revenue	1,259,391	71,285
Accounts payable	606,103	59,008
Accrued liabilities and other payables	257,946	89,540
Income tax payable		(25,000)
Lease liabilities	(129,912)	(73,424)
Net cash provided by operating activities	(72,639)	(812,861)
Cash flows from investing activities:
Investment in a subsidiary	(54,526)	(120,698)
Disposal of subsidiary	163,578
Purchase of Intangible assets	(7,236)
Net cash provided by (used in) investing activities	58,523	(383,447)
Cash flows from financing activities:
Repayment to related parties	(111,228)	(341,019)
Proceeds from third party loans	50,000	1,081,955
Net cash (used in) provided by financing activities	(61,228)	740,936
Effect on exchange rate change on cash and cash equivalents	52,855	208
NET CHANGE IN CASH AND CASH EQUIVALENTS	(22,489)	(455,164)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD	80,306	504,179
CASH AND CASH EQUIVALENTS - END OF PERIOD	57,817	49,015
Supplemental Cash Flows Information:
Cash paid for interest	66	673
Cash paid for income tax	9	459
Supplemental Disclosure of Non-Cash Flows Information:
Common stock issued for loan settlement	$ 52,000	$ 2,422,619

ORGANIZATION AND BUSINESS BACKG

ORGANIZATION AND BUSINESS BACKGROUND	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
ORGANIZATION AND BUSINESS BACKGROUND	NOTE－1 ORGANIZATION AND BUSINESS BACKGROUND VIVIC CORP. (the “Company” or “VIVC”) is a corporation established under the corporation laws in the State of Nevada on February 16, 2017. Starting December 27, 2018, associated with the change of management, we expanded our business operations to include new types of marine tourism. In addition, the Company started making efforts to enter into the businesses of constructing marinas and constructing yachts in the mainland China under the brand of Monte Fino. Monte Fino is a famous yacht brand owned by Taiwan Kha Shing Yacht Company, one of the leading yacht manufacturers in the world. It has also developed and operates “Joy Wave”(享浪)，an online yacht rental and leisure service business in Guangzhou, China. In the mainland China and Taiwan, primarily through the Internet, we provide third-party yacht and marine tourism services. This marine tourism involves high quality coastal tourism attractions in Taiwan and China including Hainan, Guangdong, Xiamen, and Quanzhou. In the field of marine tourism, the number of yachts that can be rented has been increased through a yacht-sharing program system, which can provide services for more customers. The Company also started to develop energy-saving yacht engines. Because it has advanced technology, it can achieve up to 50% energy efficiency. This energy-saving and innovative technology may be applied to new energy-saving engines for yachts. This innovative technology may bring favorable changes to the yachting industry and promote a low-carbon tourism for global environmental protection. On March 22, 2022, the Company sold its shares of Ocean Way and its subsidiaries to a third-party for a total of $163,578 (RMB1,080,000), which is approximately equal to 51.9% ownership. On July 26, 2022, Khashing Yachts Industry (Guangdong) Limited changed its name to Guangdong Weiguan Ship Tech Co., Ltd. （“Weiguan Ship”）. On July 6, 2022, Zhejiang Jiaxu Yacht Company Limited changed its name to Wenzhou Jiaxu Yacht Company Limited. On August 10, 2022, the noncontrolling shareholder surrendered their 30% of Wenzhou Jiaxu Yacht Company Limited to the Company. which became a wholly-owned subsidiary. Description of subsidiaries Name Place of incorporation legal entity Principal activities and place of operation Particulars of issued/ registered share capital Effective interest held Vivic Corporation (Hong Kong) Co., Limited Hong Kong Investment holding and tourism consultancy service 52,000,000 ordinary shares for HK$2,159,440 100% Guangdong Weiguan Ship Tech Co., Ltd. (formerly Khashing Yachts Industry (Guangdong) Limited) The People’s Republic of China Tourism consultancy service and provision of yacht service Registered: RMB10,000,000 Paid up: RMB4,236,132 100% Guangzhou Hysoul Yacht Company Limited The People’s Republic of China Provision of yacht service Registered: RMB10,000,000 Paid up: RMB1,158,500 100% Wenzhou Jiaxu Yacht Company Limited The People’s Republic of China Provision of yacht service Registered: RMB1,000,000 Paid up: RMB1,000,000 100% VIVC and its subsidiaries are hereinafter referred to as (the “Company”).

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE－2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying unaudited condensed consolidated financial statements reflect the application of certain significant accounting policies as described in this note and elsewhere in the accompanying unaudited condensed consolidated financial statements and notes. ● Basis of presentation These accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The accompanying unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Annual Report on Form 10-K filed by the Company with the SEC on May 16, 2022. ● Use of estimates In preparing these unaudited condensed consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses during the periods reported. Actual results may differ from these estimates. ● Basis of consolidation The unaudited condensed consolidated financial statements include the financial statements of VIVC and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation. ● Cash and cash equivalents Cash and cash equivalents consist primarily of cash in readily available checking and saving accounts. Cash equivalents consist of highly liquid investments that are readily convertible to cash and that mature within three months or less from the date of purchase. The carrying amounts approximate fair value due to the short maturities of these instruments. As of September 30, 2022 and December 31, 2021, the Company had no cash equivalents. ● Accounts receivable Accounts receivable are recorded at the invoiced amount and do not bear interest, which are due within contractual payment terms, generally 30 to 90 days from completion of service. Credit is extended based on evaluation of a customer’s financial condition, the customer credit-worthiness and their payment history. Accounts receivable outstanding longer than the contractual payment terms are considered past due. Past due balances over 90 days and over a specified amount are reviewed individually for collectability. At the end of fiscal year, the Company specifically evaluates individual customer’s financial condition, credit history, and the current economic conditions to monitor the progress of the collection of accounts receivables. The Company will consider the allowance for doubtful accounts for any estimated losses resulting from the inability of its customers to make required payments. For the receivables that are past due or not being paid according to payment terms, the appropriate actions are taken to exhaust all means of collection, including seeking legal resolution in a court of law. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company does not have any off-balance-sheet credit exposure related to its customers. As of September 30, 2022 and December 31, 2021, the Company recorded $829 and $0 allowance for doubtful accounts, respectively. ● Property and equipment Property and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational and after taking into account their estimated residual values: Schedule of Useful live of Assets Expected useful life Service yacht 10 years Motor vehicle 5 years Office equipment 5 years Expenditure for repairs and maintenance is expensed as incurred. When assets have retired or sold, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in the results of operations. ● Intangible assets, net Intangible assets are stated at cost less accumulated amortization. Intangible assets represented the trademark registered in the PRC and purchased software which are amortized on a straight-line basis over a useful life of 10 years The Company follows ASC Topic 350 in accounting for intangible assets, which requires impairment losses to be recorded when indicators of impairment are present and the undiscounted cash flows estimated to be generated by the assets are less than the assets’ carrying amounts. ● Revenue recognition In accordance with Accounting Standard Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers”, the Company recognizes revenues when goods or services are transferred to customers in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. In determining when and how revenues are recognized from contracts with customers, the Company performs the following five-step analysis: (i) identification of contract with customer; (ii) determination of performance obligations; (iii) measurement of the transaction price; (iv) allocation of the transaction price to the performance obligations, and (v) recognition of revenues when (or as) the Company satisfies each performance obligation. The Company derives revenues from the processing, distribution, and sale of its products. ● Comprehensive loss ASC Topic 220, “ Comprehensive Income ● Income taxes Income taxes are determined in accordance with the provisions of ASC Topic 740, “ Income Taxes ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. The Company is subject to tax in local and foreign jurisdiction. As a result of its business activities, the Company files tax returns that are subject to examination by the relevant tax authorities. ● Foreign currencies translation Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of operations. The reporting currency of the Company is United States Dollar (“US$”) and the accompanying consolidated financial statements have been expressed in US$. In addition, the Company and subsidiaries are operating in PRC and Hong Kong maintain their books and record in their local currency, Renminbi (“RMB”) and Hong Kong dollars (“HK$”), which is a functional currency as being the primary currency of the economic environment in which their operations are conducted. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “ Translation of Financial Statement Translation of amounts from RMB and HK$ into US$ has been made at the following exchange rates for the periods ended September 30, 2022 and December 31, 2021: Schedule of Foreign Currency Translations September 30, 2022 December 31, 2021 Period/year-end RMB:US$ exchange rate 7.1128 6.3588 Period/annual average RMB:US$ exchange rate 6.6023 6.4499 Period/year-end HK$:US$ exchange rate 7.8499 7.7971 Period/annual average HK$:US$ exchange rate 7.8332 7.7723 Period/year-end TWD:US$ exchange rate 31.7843 27.6879 Period/annual average TWD:US$ exchange rate 29.2791 27.9194 ● Lease At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present. Leases with a term greater than one year are recognized on the balance sheet as right-of-use assets, lease liabilities and long-term lease liabilities. The Company has elected not to recognize on the balance sheet leases with terms of one year or less. Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of lease payments over the expected remaining lease term. However, certain adjustments to the right-of-use asset may be required for items such as prepaid or accrued lease payments. The interest rate implicit in lease contracts is typically not readily determinable. As a result, the Company utilizes its incremental borrowing rates, which are the rates incurred to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. In accordance with the guidance in ASC 842, components of a lease should be split into three categories: lease components (e.g. land, building, etc.), non-lease components (e.g. common area maintenance, consumables, etc.), and non-components (e.g. property taxes, insurance, etc.). Subsequently, the fixed and in-substance fixed contract consideration (including any related to non-components) must be allocated based on the respective relative fair values to the lease components and non-lease components. The Company made the policy election to not separate lease and non-lease components. Each lease component and the related non-lease components are accounted for together as a single component. ● Noncontrolling interest The Company accounts for noncontrolling interest in accordance with ASC Topic 810-10-45, which requires the Company to present noncontrolling interests as a separate component of total shareholders’ equity on the consolidated balance sheets and the consolidated net loss attributable to the its noncontrolling interest be clearly identified and presented on the face of the consolidated statements of operations and comprehensive loss. ● Net loss per share The Company calculates net loss per share in accordance with ASC Topic 260, “ Earnings per Share ● Concentrations and credit risk The Company’s principal financial instruments subject to potential concentration of credit risk are cash and cash equivalents, including amounts held in money market accounts. The Company places cash deposits with a federally insured financial institution. The Company maintains its cash at banks and financial institutions it considers to be of high credit quality; however, the Company’s domestic cash deposits may at times exceed the Federal Deposit Insurance Corporation’s insured limit. Balances in excess of federally insured limitations may not be insured. The Company has not experienced losses on these accounts, and management believes that the Company is not exposed to significant risks on such accounts. ● Fair value of financial instruments The carrying value of the Company’s financial instruments (excluding short-term bank borrowing and note payable): cash and cash equivalents, accounts and retention receivable, prepayments and other receivables, accounts payable, income tax payable, amount due to a related party, other payables and accrued liabilities approximate at their fair values because of the short-term nature of these financial instruments. Management believes, based on the current market prices or interest rates for similar debt instruments, the fair value of note payable approximate the carrying amount. The Company also follows the guidance of the ASC Topic 820-10, “ Fair Value Measurements and Disclosures ● Level 1 ● Level 2: ● Level 3 Fair value estimates are made at a specific point in time based on relevant market information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. ● Recent accounting pronouncements The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

GOING CONCERN

GOING CONCERN	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE－3 GOING CONCERN The accompanying unaudited condensed consolidated financial statements have been prepared using the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company had $ 57,817 1,165,695 796,458 The continuation of the Company as a going concern through November 14, 2023 is dependent upon the continued financial support from its shareholders. The Company is actively pursuing additional financing for its operations via potential loans and equity issuance. However, there is no assurance that the Company will be successful in securing sufficient funds to sustain the operations. These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. These unaudited condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on the recover ability and classification of assets and liabilities that may result in the Company not being able to continue as a going concern.

LONG-TERM INVESTMENT

LONG-TERM INVESTMENT	9 Months Ended
	Sep. 30, 2022
Investments, All Other Investments [Abstract]
LONG-TERM INVESTMENT	NOTE－4 LONG-TERM INVESTMENT On January 3, 2021, the Company signed an investment agreement with Shenzhen Ocean Way Yachts Services Co., Limited (“Ocean Way”) to invest a total of $235,895(RMB1,500,000), which is equivalent to 60% of equity ownership. However, based on the agreements, Shaorong Zhuang, the other shareholder has the right to assign the majority of directors in the board and controls Ocean Way. As a result, Ocean Way is treated as an investment rather than subsidiary. As of December 31, 2021, a total of $122,665 (RMB780,000) has been invested in Ocean Way. In the year ended December 31, 2021, an investment loss of $61,474 has been recognized. On March 22, 2022, the Company sold Ocean Way for a total proceed of $ 163,578 59,206

PROPERTY AND EQUIPMENT AND CONS

PROPERTY AND EQUIPMENT AND CONSTRUCTION IN PROGRESS	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT AND CONSTRUCTION IN PROGRESS	NOTE－5 PROPERTY AND EQUIPMENT AND CONSTRUCTION IN PROGRESS Property and equipment consisted of the following: Schedule of Property, Plant and Equipment September 30, 2022 December 31, 2021 Leasehold improvements $ 35,413 $ 39,316 Motor vehicle 51,417 57,514 Office equipment 8,021 9,048 Property Plant and Equipment, Gross 94,851 105,878 Less: accumulated depreciation (22,387 ) (13,521 ) Property and equipment, net $ 72,464 $ 92,357 Construction in process 209,012 185,667 Total 281,476 278,024 Depreciation expense for the three months ended September 30, 2022 and 2021 were $ 3,803 20,940 Depreciation expense for the nine months ended September 30, 2022 and 2021 were $ 11,119 43,030 For the nine months ended September 30, 2022 and 2021, $43,292 and $262,749 were used for purchase of fixed assets, respectively.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	Note – 6 INTANGIBLE ASSETS Intangible assets consisted of the following: Schedule of Intangible Assets September 30, 2022 December 31, 2021 Software $ 7,236 $ - Total intangible assets 7,236 - Less: accumulated amortization (999 ) - Intangible assets, net $ 6,237 $ - Amortization expense for the three months ended September 30, 2022 and 2021 were $ 657 0 Amortization expense for the nine months ended September 30, 2022 and 2021 were $ 1,084 0 For the nine months ended September 30, 2022 and 2021, $7,236 and $0 were used for purchase of intangible assets, respectively.

DEPOSITS AND PREPAYMENTS

DEPOSITS AND PREPAYMENTS	9 Months Ended
	Sep. 30, 2022
Deposits And Prepayments
DEPOSITS AND PREPAYMENTS	NOTE – 7 DEPOSITS AND PREPAYMENTS Deposits and prepayments consisted of the following: Schedule of Deposits and Prepayment September 30, 2022 December 31, 2021 Prepayments (a) $ 249,550 $ 105,011 Deposits and Prepayment, net $ 249,550 $ 105,011 (a) Prepayments comprise of advance payments for material purchase, ship design, consulting and other services. The amount will be recognized as expenses in next twelve months.

INVENTORY

INVENTORY	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
INVENTORY	Note – 8 INVENTORY Inventory consisted of the following: Schedule of Inventory September 30, 2022 December 31, 2021 Raw materials $ - $ - Work-in-progress 233,651 106,723 Finished goods 1,226,987 57,252 Inventory $ 1,460,638 $ 163,975

ACCRUED LIABILITIES AND OTHER P

ACCRUED LIABILITIES AND OTHER PAYABLE	9 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
ACCRUED LIABILITIES AND OTHER PAYABLE	NOTE－9 ACCRUED LIABILITIES AND OTHER PAYABLE Accrued expenses and other payable consisted of the following: Schedule of Accrued Liabilities and Other Payable September 30, 2022 December 31, 2021 Accrued expenses $ 93,088 $ 47,018 Other payable 387,144 156,829 Accrued liabilities and other payable $ 480,232 $ 203,847 Accrued expenses and other payable comprise of accrued salaries, audit fee and borrowing from third party. The amount will be settled in next twelve months.

LEASES

LEASES	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
LEASES	NOTE－10 LEASES The Company purchased a service vehicle under a financing lease arrangement of a total amount of $18,146 (RMB117,043) starting from August 1, 2019, with the effective interest rate of 2.25% per annum, due through May 1, 2022, with principal and interest payable monthly. The Company leases premises for offices and dock for operating under non-cancelable operating leases with initial terms of 5 years and the effective interest rate of 5.168% per annum. Operating lease payments are expended over the term of lease. The Company leases don’t include options to extend nor any restrictions or covenants. Under the terms of the lease agreements, the Company has no legal or contractual asset retirement obligations at the end of the lease. As of September 30, 2022, $22,809 of lease payments were accrued but not yet paid. Supplemental balance sheet information related to leases as of September 30, 2022 and December 31, 2021 are as follows: Schedule of Lease Liability September 30, 2022 December 31, 2021 Right of use assets $ 371,327 $ 534,231 Current portion $ 118,600 $ 141,725 Non-current portion 263,349 422,948 Total $ 381,949 $ 564,673 The following table summarizes the maturity of lease liabilities under operating leases as of September 30, 2022: Schedule of Maturities of Lease Liability For the twelve months ending September 30, Operating 2023 $ 118,600 2024 127,153 2025 136,196 Total lease payments $ 381,949

PROMISSORY NOTE

PROMISSORY NOTE	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
PROMISSORY NOTE	NOTE－11 PROMISSORY NOTE Promissory note represented the U.S. Small Business Administration, an Agency of the U.S. Government authorized a loan to the Company which bears interest at the rate of 3.75% per annum and will become repayable within 30 years, from the date of draw down. This loan is secured by all tangible and intangible personal property, including, but not limited to: (a) inventory, (b) equipment, (c) instruments, (d) chattel paper, (e) receivables, (h) deposit accounts, (i) commercial tort claims and (j) general intangibles. The loan was borrowed on July 1, 2020 and the initial installment repayment date begins Twelve (12) months from the date of the promissory Note and has been extended for 30 months. As a result, the Company has not made any repayment. Total promissory note recorded in balance were $87,500 at September 30, 2022 and December 31, 2021. The accrued interest expense is $2,461 for the nine months ended September 30, 2022 and 2021, respectively.

SHAREHOLDERS_ EQUITY (DEFICIT)

SHAREHOLDERS’ EQUITY (DEFICIT)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
SHAREHOLDERS’ EQUITY (DEFICIT)	NOTE－12 SHAREHOLDERS’ EQUITY (DEFICIT) Authorized Shares The Company’s authorized shares are 5,000,000 70,000,000 0.001 Preferred Stock As of September 30, 2022 and December 31, 2021, the Company had a total of 832,000 Common Stock On February 15, 2022, the Company issued 50,000 50,000 2,000 On March 22, 2022, the Company cancelled 60,000 As of September 30, 2022 and December 31, 2021, the Company had a total of 25,546,810 25,556,810

NET LOSS PER SHARE OF COMMON ST

NET LOSS PER SHARE OF COMMON STOCK	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
NET LOSS PER SHARE OF COMMON STOCK	NOTE－13 NET LOSS PER SHARE OF COMMON STOCK Basic net (loss) per share is computed using the weighted average number of common shares outstanding during the year. The dilutive effect of potential common shares outstanding is included in diluted net (loss) per share. The following table sets forth the computation of basic and diluted net (loss) per share for the three and nine months ended September 30, 2022 and 2021: Schedule of Net Loss per Share For the three months ended September For the nine months ended September 2022 2021 2022 2021 Net loss for basic and diluted attributable to Vivic Corp. $ (285,001 ) $ (360,382 ) $ (758,588 ) $ (2,109,860 ) Weighted average common stock outstanding - Basic and Diluted 25,546,810 25,496,209 25,550,253 25,132,189 Net loss per share of common stock – basic and diluted $ (0.01 ) $ (0.01 ) $ (0.03 ) $ (0.09 )

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE－14 RELATED PARTY TRANSACTIONS In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by officers, directors, or shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note. Due to related parties represented temporary advances to the Company by the shareholders of the Company, which were unsecured, interest-free and had no fixed terms of repayments. Imputed interests from related parties’ loan are not significant. The balance of due to related parties was $358,520 and $469,748 as of September 30, 2022 and December 31, 2021 respectively. During the three months ended September 30, 2022, the Company borrowed $178,740 from related parties, repaid $57,555 to related parties. During the nine months ended September 30, 2022, the Company borrowed $210,162 from related parties, repaid $433,299 to related parties. The Company paid no consulting fee to Honetech Inc., who owns 100% of the Company’s preferred stock as of September 30, 2022, during the three months ended September 30, 2022 and 2021. The Company paid $ 9,000 The Company paid no consulting fee to Go Right Holdings Limited., who owns approximately 22% of the Company’s outstanding common stocks as of September 30, 2021 during the three months ended September 30, 2022 and 2021. The Company paid $ 0 46,003 Apart from the transactions and balances detailed elsewhere in these accompanying unaudited condensed consolidated financial statements, the Company has no other significant or material related party transactions during the periods presented.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE－15 COMMITMENTS AND CONTINGENCIES As of September 30, 2022 and December 31, 2021, the Company has no material commitments and contingencies.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE－16 SUBSEQUENT EVENTS In accordance with ASC Topic 855, “ Subsequent Events

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of presentation	● Basis of presentation These accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The accompanying unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Annual Report on Form 10-K filed by the Company with the SEC on May 16, 2022.
Use of estimates	● Use of estimates In preparing these unaudited condensed consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses during the periods reported. Actual results may differ from these estimates.
Basis of consolidation	● Basis of consolidation The unaudited condensed consolidated financial statements include the financial statements of VIVC and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation.
Cash and cash equivalents	● Cash and cash equivalents Cash and cash equivalents consist primarily of cash in readily available checking and saving accounts. Cash equivalents consist of highly liquid investments that are readily convertible to cash and that mature within three months or less from the date of purchase. The carrying amounts approximate fair value due to the short maturities of these instruments. As of September 30, 2022 and December 31, 2021, the Company had no cash equivalents.
Accounts receivable	● Accounts receivable Accounts receivable are recorded at the invoiced amount and do not bear interest, which are due within contractual payment terms, generally 30 to 90 days from completion of service. Credit is extended based on evaluation of a customer’s financial condition, the customer credit-worthiness and their payment history. Accounts receivable outstanding longer than the contractual payment terms are considered past due. Past due balances over 90 days and over a specified amount are reviewed individually for collectability. At the end of fiscal year, the Company specifically evaluates individual customer’s financial condition, credit history, and the current economic conditions to monitor the progress of the collection of accounts receivables. The Company will consider the allowance for doubtful accounts for any estimated losses resulting from the inability of its customers to make required payments. For the receivables that are past due or not being paid according to payment terms, the appropriate actions are taken to exhaust all means of collection, including seeking legal resolution in a court of law. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company does not have any off-balance-sheet credit exposure related to its customers. As of September 30, 2022 and December 31, 2021, the Company recorded $829 and $0 allowance for doubtful accounts, respectively.
Property and equipment	● Property and equipment Property and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational and after taking into account their estimated residual values: Schedule of Useful live of Assets Expected useful life Service yacht 10 years Motor vehicle 5 years Office equipment 5 years Expenditure for repairs and maintenance is expensed as incurred. When assets have retired or sold, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in the results of operations.
Intangible assets, net	● Intangible assets, net Intangible assets are stated at cost less accumulated amortization. Intangible assets represented the trademark registered in the PRC and purchased software which are amortized on a straight-line basis over a useful life of 10 years The Company follows ASC Topic 350 in accounting for intangible assets, which requires impairment losses to be recorded when indicators of impairment are present and the undiscounted cash flows estimated to be generated by the assets are less than the assets’ carrying amounts.
Revenue recognition	● Revenue recognition In accordance with Accounting Standard Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers”, the Company recognizes revenues when goods or services are transferred to customers in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. In determining when and how revenues are recognized from contracts with customers, the Company performs the following five-step analysis: (i) identification of contract with customer; (ii) determination of performance obligations; (iii) measurement of the transaction price; (iv) allocation of the transaction price to the performance obligations, and (v) recognition of revenues when (or as) the Company satisfies each performance obligation. The Company derives revenues from the processing, distribution, and sale of its products.
Comprehensive loss	● Comprehensive loss ASC Topic 220, “ Comprehensive Income
Income taxes	● Income taxes Income taxes are determined in accordance with the provisions of ASC Topic 740, “ Income Taxes ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. The Company is subject to tax in local and foreign jurisdiction. As a result of its business activities, the Company files tax returns that are subject to examination by the relevant tax authorities.
Foreign currencies translation	● Foreign currencies translation Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of operations. The reporting currency of the Company is United States Dollar (“US$”) and the accompanying consolidated financial statements have been expressed in US$. In addition, the Company and subsidiaries are operating in PRC and Hong Kong maintain their books and record in their local currency, Renminbi (“RMB”) and Hong Kong dollars (“HK$”), which is a functional currency as being the primary currency of the economic environment in which their operations are conducted. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “ Translation of Financial Statement Translation of amounts from RMB and HK$ into US$ has been made at the following exchange rates for the periods ended September 30, 2022 and December 31, 2021: Schedule of Foreign Currency Translations September 30, 2022 December 31, 2021 Period/year-end RMB:US$ exchange rate 7.1128 6.3588 Period/annual average RMB:US$ exchange rate 6.6023 6.4499 Period/year-end HK$:US$ exchange rate 7.8499 7.7971 Period/annual average HK$:US$ exchange rate 7.8332 7.7723 Period/year-end TWD:US$ exchange rate 31.7843 27.6879 Period/annual average TWD:US$ exchange rate 29.2791 27.9194
Lease	● Lease At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present. Leases with a term greater than one year are recognized on the balance sheet as right-of-use assets, lease liabilities and long-term lease liabilities. The Company has elected not to recognize on the balance sheet leases with terms of one year or less. Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of lease payments over the expected remaining lease term. However, certain adjustments to the right-of-use asset may be required for items such as prepaid or accrued lease payments. The interest rate implicit in lease contracts is typically not readily determinable. As a result, the Company utilizes its incremental borrowing rates, which are the rates incurred to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. In accordance with the guidance in ASC 842, components of a lease should be split into three categories: lease components (e.g. land, building, etc.), non-lease components (e.g. common area maintenance, consumables, etc.), and non-components (e.g. property taxes, insurance, etc.). Subsequently, the fixed and in-substance fixed contract consideration (including any related to non-components) must be allocated based on the respective relative fair values to the lease components and non-lease components. The Company made the policy election to not separate lease and non-lease components. Each lease component and the related non-lease components are accounted for together as a single component.
Noncontrolling interest	● Noncontrolling interest The Company accounts for noncontrolling interest in accordance with ASC Topic 810-10-45, which requires the Company to present noncontrolling interests as a separate component of total shareholders’ equity on the consolidated balance sheets and the consolidated net loss attributable to the its noncontrolling interest be clearly identified and presented on the face of the consolidated statements of operations and comprehensive loss.
Net loss per share	● Net loss per share The Company calculates net loss per share in accordance with ASC Topic 260, “ Earnings per Share
Concentrations and credit risk	● Concentrations and credit risk The Company’s principal financial instruments subject to potential concentration of credit risk are cash and cash equivalents, including amounts held in money market accounts. The Company places cash deposits with a federally insured financial institution. The Company maintains its cash at banks and financial institutions it considers to be of high credit quality; however, the Company’s domestic cash deposits may at times exceed the Federal Deposit Insurance Corporation’s insured limit. Balances in excess of federally insured limitations may not be insured. The Company has not experienced losses on these accounts, and management believes that the Company is not exposed to significant risks on such accounts.
Fair value of financial instruments	● Fair value of financial instruments The carrying value of the Company’s financial instruments (excluding short-term bank borrowing and note payable): cash and cash equivalents, accounts and retention receivable, prepayments and other receivables, accounts payable, income tax payable, amount due to a related party, other payables and accrued liabilities approximate at their fair values because of the short-term nature of these financial instruments. Management believes, based on the current market prices or interest rates for similar debt instruments, the fair value of note payable approximate the carrying amount. The Company also follows the guidance of the ASC Topic 820-10, “ Fair Value Measurements and Disclosures ● Level 1 ● Level 2: ● Level 3 Fair value estimates are made at a specific point in time based on relevant market information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates.
Recent accounting pronouncements	● Recent accounting pronouncements The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Schedule of Useful live of Assets	Schedule of Useful live of Assets
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Expected useful life Service yacht 10 years Motor vehicle 5 years Office equipment 5 years
Schedule of Foreign Currency Translations	Translation of amounts from RMB and HK$ into US$ has been made at the following exchange rates for the periods ended September 30, 2022 and December 31, 2021: Schedule of Foreign Currency Translations
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2)	September 30, 2022 December 31, 2021 Period/year-end RMB:US$ exchange rate 7.1128 6.3588 Period/annual average RMB:US$ exchange rate 6.6023 6.4499 Period/year-end HK$:US$ exchange rate 7.8499 7.7971 Period/annual average HK$:US$ exchange rate 7.8332 7.7723 Period/year-end TWD:US$ exchange rate 31.7843 27.6879 Period/annual average TWD:US$ exchange rate 29.2791 27.9194

PROPERTY AND EQUIPMENT AND CO_2

PROPERTY AND EQUIPMENT AND CONSTRUCTION IN PROGRESS (Tables)	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property and equipment consisted of the following: Schedule of Property, Plant and Equipment
PROPERTY, PLANT AND EQUIPMENT	September 30, 2022 December 31, 2021 Leasehold improvements $ 35,413 $ 39,316 Motor vehicle 51,417 57,514 Office equipment 8,021 9,048 Property Plant and Equipment, Gross 94,851 105,878 Less: accumulated depreciation (22,387 ) (13,521 ) Property and equipment, net $ 72,464 $ 92,357 Construction in process 209,012 185,667 Total 281,476 278,024

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets consisted of the following: Schedule of Intangible Assets
INTANGIBLE ASSETS	September 30, 2022 December 31, 2021 Software $ 7,236 $ - Total intangible assets 7,236 - Less: accumulated amortization (999 ) - Intangible assets, net $ 6,237 $ -

DEPOSITS AND PREPAYMENTS (Table

DEPOSITS AND PREPAYMENTS (Tables)	9 Months Ended
	Sep. 30, 2022
Deposits And Prepayments
Schedule of Deposits and Prepayment	Deposits and prepayments consisted of the following: Schedule of Deposits and Prepayment September 30, 2022 December 31, 2021 Prepayments (a) $ 249,550 $ 105,011 Deposits and Prepayment, net $ 249,550 $ 105,011 (a) Prepayments comprise of advance payments for material purchase, ship design, consulting and other services. The amount will be recognized as expenses in next twelve months.
[custom:DisclosureDepositsAndPrepaymentsDetailsAbstract]	September 30, 2022 December 31, 2021 Prepayments (a) $ 249,550 $ 105,011 Deposits and Prepayment, net $ 249,550 $ 105,011 (a) Prepayments comprise of advance payments for material purchase, ship design, consulting and other services. The amount will be recognized as expenses in next twelve months.

INVENTORY (Tables)

INVENTORY (Tables)	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following: Schedule of Inventory
INVENTORY	September 30, 2022 December 31, 2021 Raw materials $ - $ - Work-in-progress 233,651 106,723 Finished goods 1,226,987 57,252 Inventory $ 1,460,638 $ 163,975

ACCRUED LIABILITIES AND OTHER_2

ACCRUED LIABILITIES AND OTHER PAYABLE (Tables)	9 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities and Other Payable	Accrued expenses and other payable consisted of the following: Schedule of Accrued Liabilities and Other Payable September 30, 2022 December 31, 2021 Accrued expenses $ 93,088 $ 47,018 Other payable 387,144 156,829 Accrued liabilities and other payable $ 480,232 $ 203,847
[custom:DisclosureAccruedLiabilitiesAndOtherPayableDetailsAbstract]	September 30, 2022 December 31, 2021 Accrued expenses $ 93,088 $ 47,018 Other payable 387,144 156,829 Accrued liabilities and other payable $ 480,232 $ 203,847

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Schedule of Lease Liability	Supplemental balance sheet information related to leases as of September 30, 2022 and December 31, 2021 are as follows: Schedule of Lease Liability
LEASES	September 30, 2022 December 31, 2021 Right of use assets $ 371,327 $ 534,231 Current portion $ 118,600 $ 141,725 Non-current portion 263,349 422,948 Total $ 381,949 $ 564,673
Schedule of Maturities of Lease Liability	The following table summarizes the maturity of lease liabilities under operating leases as of September 30, 2022: Schedule of Maturities of Lease Liability
LEASES (Details 2)	For the twelve months ending September 30, Operating 2023 $ 118,600 2024 127,153 2025 136,196 Total lease payments $ 381,949

NET LOSS PER SHARE OF COMMON _2

NET LOSS PER SHARE OF COMMON STOCK (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Net Loss per Share	Schedule of Net Loss per Share
NET LOSS PER SHARE OF COMMON STOCK	For the three months ended September For the nine months ended September 2022 2021 2022 2021 Net loss for basic and diluted attributable to Vivic Corp. $ (285,001 ) $ (360,382 ) $ (758,588 ) $ (2,109,860 ) Weighted average common stock outstanding - Basic and Diluted 25,546,810 25,496,209 25,550,253 25,132,189 Net loss per share of common stock – basic and diluted $ (0.01 ) $ (0.01 ) $ (0.03 ) $ (0.09 )

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	9 Months Ended
	Sep. 30, 2022
Service Yacht [Member]
Property, Plant and Equipment [Line Items]
Finite-Lived Intangible Asset, Useful Life	10 years
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2)	Sep. 30, 2022	Dec. 31, 2021
Period End R M B U S Exchange Rate [Member]
Intercompany Foreign Currency Balance [Line Items]
Period/annual average TWD:US$ exchange rate	7.1128	6.3588
Period Average R M B U S Exchange Rate [Member]
Intercompany Foreign Currency Balance [Line Items]
Period/annual average TWD:US$ exchange rate	6.6023	6.4499
Period End H K U S Exchange Rate [Member]
Intercompany Foreign Currency Balance [Line Items]
Period/annual average TWD:US$ exchange rate	7.8499	7.7971
Period Average H K U S Exchange Rate [Member]
Intercompany Foreign Currency Balance [Line Items]
Period/annual average TWD:US$ exchange rate	7.8332	7.7723
Period End T W D U S Exchange Rate [Member]
Intercompany Foreign Currency Balance [Line Items]
Period/annual average TWD:US$ exchange rate	31.7843	27.6879
Period Average T W D U S Exchange Rate [Member]
Intercompany Foreign Currency Balance [Line Items]
Period/annual average TWD:US$ exchange rate	29.2791	27.9194

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	9 Months Ended
	Sep. 30, 2022
Software and Software Development Costs [Member]
Property, Plant and Equipment [Line Items]
Finite-Lived Intangible Asset, Useful Life	10 years

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and Cash Equivalents, at Carrying Value	$ 57,817			$ 49,015			$ 57,817	$ 49,015	$ 80,306	$ 504,179
Working Capital Deficit.	1,165,695						1,165,695
Net Income (Loss) Attributable to Parent	$ 288,313	$ 321,732	$ 186,413	$ 374,766	$ 920,736	$ 897,307	$ 796,458	$ 2,192,809

LONG-TERM INVESTMENT (Details N

LONG-TERM INVESTMENT (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Restructuring Cost and Reserve [Line Items]
Payments to Acquire Interest in Subsidiaries and Affiliates	$ 54,526	$ 120,698
Finance Lease, Impairment Loss	59,206
Ocean Way Yachts Services Co Limited [Member]
Restructuring Cost and Reserve [Line Items]
Payments to Acquire Interest in Subsidiaries and Affiliates	$ 163,578

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property Plant and Equipment, Gross	$ 94,851	$ 105,878
Less: accumulated depreciation	(22,387)	(13,521)
Property and equipment, net	72,464	92,357
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property Plant and Equipment, Gross	35,413	39,316
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property Plant and Equipment, Gross	51,417	57,514
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property Plant and Equipment, Gross	$ 8,021	$ 9,048

PROPERTY AND EQUIPMENT AND CO_3

PROPERTY AND EQUIPMENT AND CONSTRUCTION IN PROGRESS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation	$ 3,803	$ 20,940	$ 11,119	$ 43,030

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 7,236
Less: accumulated amortization	(999)
Intangible assets, net	6,237
Computer Software, Intangible Asset [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 7,236

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 657	$ 0	$ 1,084	$ 0

DEPOSITS AND PREPAYMENTS (Detai

DEPOSITS AND PREPAYMENTS (Details) - USD ($)		Sep. 30, 2022	Dec. 31, 2021
Deposits And Prepayments
Prepayments	[1]	$ 249,550	$ 105,011
Deposits and Prepayment, net		$ 249,550	$ 105,011
[1]Prepayments comprise of advance payments for material purchase, ship design, consulting and other services. The amount will be recognized as expenses in next twelve months.

INVENTORY (Details)

INVENTORY (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials
Work-in-progress	233,651	106,723
Finished goods	1,226,987	57,252
Inventory	$ 1,460,638	$ 163,975

ACCRUED LIABILITIES AND OTHER_3

ACCRUED LIABILITIES AND OTHER PAYABLE (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued expenses	$ 93,088	$ 47,018
Other payable	387,144	156,829
Accrued liabilities and other payable	$ 480,232	$ 203,847

LEASES (Details)

LEASES (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Right of use assets	$ 371,327	$ 534,231
Current portion	118,600	141,725
Non-current portion	263,349	422,948
Total	$ 381,949	$ 564,673

LEASES (Details 2)

LEASES (Details 2)	Sep. 30, 2022 USD ($)
Leases [Abstract]
2023	$ 118,600
2024	127,153
2025	136,196
Total lease payments	$ 381,949

SHAREHOLDERS_ EQUITY (DEFICIT)

SHAREHOLDERS’ EQUITY (DEFICIT) (Details Narrative) - USD ($)			3 Months Ended				9 Months Ended
	Mar. 22, 2022	Feb. 15, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred Stock, Shares Authorized							5,000,000	5,000,000
Common Stock, Shares Authorized							70,000,000	70,000,000
Preferred Stock, Par or Stated Value Per Share							$ 0.001	$ 0.001
Common Stock, Par or Stated Value Per Share							$ 0.001	$ 0.001
Preferred Stock, Shares Issued							832,000	832,000
Preferred Stock, Shares Outstanding							832,000	832,000
Payments for (Proceeds from) Loans and Leases		$ 50,000
Gain (Loss) on Extinguishment of Debt							$ 2,000
Common Stock, Shares, Issued							25,546,810	25,556,810
Common Stock, Shares, Outstanding							25,546,810	25,556,810
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Debt Conversion, Converted Instrument, Shares Issued		50,000	50,000	154,868	462,888	468,888
Stock Repurchased and Retired During Period, Shares	60,000		60,000

NET LOSS PER SHARE OF COMMON _3

NET LOSS PER SHARE OF COMMON STOCK (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net loss for basic and diluted attributable to Vivic Corp.	$ (285,001)	$ (360,382)	$ (758,588)	$ (2,109,860)
Weighted average common stock outstanding - Basic and Diluted	25,546,810	25,496,209	25,550,253	25,132,189
Net loss per share of common stock – basic and diluted	$ (0.01)	$ (0.01)	$ (0.03)	$ (0.09)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Honetech Inc [Member]
Related Party Transaction [Line Items]
Professional Fees	$ 9,000	$ 9,000
Go Right Holdings Limited [Member]
Related Party Transaction [Line Items]
Professional Fees	$ 0	$ 46,003