Wave Sync (WAYS) 10-K 24 Sep 21 2019 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Aug. 31, 2021	Jun. 30, 2019
Document Information Line Items
Entity Registrant Name	WAVE SYNC CORP.
Document Type	10-K
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		59,327,713
Entity Public Float			$ 1,185,963
Amendment Flag	false
Entity Central Index Key	0000860131
Entity Current Reporting Status	No
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	true
Document Annual Report	true
Document Transition Report	false
Entity File Number	001-34113
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-2559866
Entity Address, Address Line One	19 West 44th Street
Entity Address, Address Line Two	Suite 1001
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10036
City Area Code	+852
Local Phone Number	9804 7102
Entity Interactive Data Current	No

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 16	$ 504
Other receivable		277
Advance to suppliers
Prepaid expenses
Prepaid taxes		6,422
Due from related parties
Total Current Assets	16	7,203
Non-current assets
Property and Equipment, net		584
Intangible assets, net
Deferred Tax Assets
Total Assets	16	7,787
Current liabilities
Accounts payable		322,368
Other payables		51,806
Accrued expenses	32,006	46,751
Related party payable		994,040
Taxes payable	400
Total Current Liabilities	32,406	1,414,965
Provision of other liabilities
Deferred tax liabilities
Total Liabilities	32,406	1,414,965
Commitment and contingencies
Shareholders’ equity
Common Stock ($0.001 par value, 100,000,000 shares authorized, 21,027,713 and 21,027,713 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively)	21,027	21,027
Additional paid in capital	27,297,495	25,889,431
Accumulated deficits	(27,092,388)	(27,059,112)
Accumulated other comprehensive loss	(258,524)	(258,524)
Total Shareholders’ Equity	(32,390)	(1,407,178)
Total Liabilities and Shareholders’ Equity	$ 16	$ 7,787

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	21,027,713	21,027,713
Common stock, shares outstanding	21,027,713	21,027,713

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Revenue		$ 85,573
Cost of revenue		84,015
Gross profit		1,558
Operating expenses
General and administrative expenses	33,276	1,671,264
Financial expenses
Total Operating expenses	33,276	1,671,264
Loss from operations	(33,276)	(1,669,706)
Other income (expenses)
Interest income		26
Interest expense
Other expenses		(3,943,408)
Other income		6,047
Impairment loss
Total other (expenses) income, net		(3,937,335)
Loss before income tax expenses	(33,276)	(5,607,041)
Income tax expenses
Net loss	(33,276)	(5,607,041)
Other comprehensive loss
Foreign currency translation (loss) gain		(35,167)
Comprehensive loss	$ (33,276)	$ (5,642,208)
Weighted average number of shares, basic and diluted (in Shares)	21,027,713	21,027,713
Basic and diluted loss per share (in Dollars per share)	$ (0.00158)	$ (0.27)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net loss	$ (33,276)	$ (5,607,041)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	584	7,081
Stock compensation		1,113,217
Impairment loss on intangible assets		3,952,177
Impairment loss on fixed assets		59,541
Changes in operating assets and liabilities:
Other receivables		7,066
Advance to suppliers		36,174
Prepaid expenses and taxes		6,851
Accounts payable		162,602
Accrued expenses	32,006	(668)
Other payables		(14,335)
Tax payable	400	(6,145)
Net cash (used in)/provided by operating activities	(286)	(283,480)
Cash flows from investing activities:
Purchases of property and equipment
Net cash (used in)/provided by investing activities
Cash flows from financing activities:
Proceeds from related party
Repayment to a related party		308,860
Net cash provided by/ (used in) financing activities		308,860
Effect of exchange rate changes on cash	(202)	(35,222)
Net increase (decrease) in cash	(488)	(9,842)
Cash at beginning of year	504	10,346
Cash at end of year	16	504
Supplemental disclosure of cash flow information
Interest received		26
Interest paid
Income taxes paid
Non- cash operating and financing activities:
Forgiveness of loans from related parties	(994,040)
Undertaking of assets and liabilities by related parties	$ (414,226)

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders’ Equity/(Deficiency) - USD ($)	Common Stock	Additional paid-in Capital	Accumulated deficit	Accumulated other comprehensive income	Total
Balance at Dec. 31, 2017	$ 21,027	$ 24,776,214	$ (21,452,071)	$ (223,357)	$ 3,121,813
Balance (in Shares) at Dec. 31, 2017	21,027,713
Stock compensation expense		1,113,217			1,113,217
Net (loss)			(5,607,041)		(5,607,041)
Foreign currency translation loss				(35,167)	(35,167)
Balance at Dec. 31, 2018	$ 21,027	25,889,431	(27,059,112)	(258,524)	(1,407,178)
Balance (in Shares) at Dec. 31, 2018	21,027,713
Net (loss)			(33,276)		(33,276)
Forgiveness of loan from related parties		994,040			994,040
Undertaking of assets and liabilities by related parties		414,226			414,226
Foreign currency translation loss		(202)			(202)
Balance at Dec. 31, 2019	$ 21,027	$ 27,297,495	$ (27,092,388)	$ (258,524)	$ (32,390)
Balance (in Shares) at Dec. 31, 2019	21,027,713

Organization and Principal Acti

Organization and Principal Activities	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND PRINCIPAL ACTIVITIES	NOTE 1. ORGANIZATION AND PRINCIPAL ACTIVITIES Wave Sync Corp. formerly known as China Bio-Energy Corp. (the “Company”), and prior to that known as China INSOnline Corp., was incorporated on December 23, 1988 as Lifequest Medical, Inc., a Delaware corporation. In June 2010, the Company ceased all operations conducted by its then subsidiaries: Ever Trend Investment Limited, Run Ze Yong Cheng (Beijing) Technology, San Teng Da Fei Technology, and Guang Hua Insurance Agency (“Ever Trend Group”); on January 27, 2015, the Company announced the completion of the disposition of the aforementioned subsidiaries. Accordingly, the Company has excluded the accounts of Ever Trend Group in these financial statements and the accompanying notes contained herein. On November 12, 2010, the Company entered into a share exchange agreement with Ding Neng Holdings Ltd, an investment holdings company incorporated in the British Virgin Islands (“Ding Neng Holdings”); the share exchange agreement was amended on December 6, 2010, whereby the Company, under the share exchange agreement and its related amendment, would have contemplated acquiring 100% of Ding Neng Holdings in exchange for the issuance of 26,162,505 shares of the Company’s common stock, par value $0.001. Under the share exchange agreement, the Company would have contemplated owning and operating Ding Neng Holdings and Ding Neng Holdings’ directly, and indirectly held subsidiaries: Ding Neng Bio-technology Co., Ltd. (“Ding Neng HK”), Zhangzhou Fuhua Biomass Energy Technology Co., Ltd. (“WOFE”), and Ding Neng Bio-tech. Ding Neng HK was incorporated under the laws of Hong Kong on September 10, 2010. Ding Neng HK did not have any operations. Ding Neng HK has been delinquent with its annual regulatory filings in Hong Kong, and should be considered dormant and defunct. Ding Neng HK was wholly-owned by Ding Neng Holdings. Zhangzhou Fuhua Biomass Energy Technology Co., Ltd.(“WFOE”) was incorporated as a wholly-foreign owned entity under the laws of the People’s Republic of China (“PRC”), on November 2, 2010. WFOE was wholly-owned by Ding Neng HK. Ding Neng Bio-tech was incorporated under the laws of the PRC on December 8, 2006. It was located in Zhangzhou city Fujian Province of PRC. Ding Neng Bio-tech was engaged in theproduction, refinement and distribution of bio-diesel fuel in Southern China. Ding Neng Bio-tech operated a biodiesel manufacturing facility in Zhangzhou city. On October 28, 2010, WFOE and Ding Neng Bio-tech entered into a set of variable interest entity agreements that included: (1) a Consulting Service Agreement with Ding Neng Bio-tech, which entitled WFOE toreceive substantially all of the economic benefits of Ding Neng Bio-tech in consideration for services provided by WFOE to DingNeng Bio-tech, (2) an Option Agreement with Xinfeng Nie, Sanfu Huang, and Shunlong Hu (the shareholders of Ding Neng Bio-tech) allowing the WFOE to acquire all the shares of Ding Neng Bio-tech as permitted by PRC laws, (3) a Voting Rights Proxy Agreement that provides WFOE with the all voting rights of the Ding Neng Bio-tech shareholders, and (4) an Equity Pledge Agreement that pledges the shares in Ding Neng Bio-tech to WFOE (VIE Agreements). These VIE Agreements granted effective control of Ding Neng Bio-tech to WFOE. On June 4, 2015, WFOE filed a civil action in Haicang District People’s Court of Xiamen, Fujian, PRC (the “Court”) against Ding Neng Bio-tech, alleging that the purposes of those certain executed VIE Agreements entered into by WFOE and Ding Neng Bio-Tech on October 28, 2010, had been frustrated, and that these VIE Agreements should be terminated. WFOE alleged that Ding Neng Bio-Tech did not make any payment of service fees to WFOE, and that Ding Neng Bio-Tech failed to perfect the security interest in the pledged stocks. On July 14, 2015, this case was settled via in-court mediation directed by the Court. As a result, WFOE and Ding Neng Bio-Tech entered into binding settlement, among other things, (i) to terminate the VIE Agreements, and (ii) that the litigation fee in the amount of RMB10,000 (approximately$1,610.50) would be borne by Ding Neng Bio-Tech. Ding Neng Holdings is delinquent with its regulatory filings and annual fees to the British Virgin Islands; accordingly, the Ding Neng Holdings should be considered dormant and defunct. Given that the Company has not been able to exercise effective control over Ding Neng Bio-Tech or to access Ding Neng Bio-tech’s financial information since 2011, and the VIE Agreements were terminated, the Company has excluded the accounts of Ding Neng Bio-Tech’s in these financial statements and the accompanying notes contained herein; the exclusion of such accounts is considered as a type two material subsequent event that occurred prior to the issuance of the financial statements but after the balance sheets dates that required material adjustments to the financial statements presented. Ding Neng Holdings is delinquent and defunct; the Company has determined that the Company was never registered as the sole shareholder of Ding Neng Holdings pursuant to the share exchange agreement dated November 12, 2010, and amended December 6, 2010; accordingly, the Company has excluded the accounts of Ding Neng and its subsidiaries in these financial statements and the accompanying notes as contained herein; the exclusion of such accounts is considered as a type two material subsequent event that occurred prior to the issuance of the financial statements but after the balance sheets dates that required material adjustments to the financial statements presented. The Company accounted for the issuance of shares to the shareholders of Ding Neng Holdings under the contemplated share exchange transaction as a recapitalization of the Company under reverse take-over accounting; accordingly, the Company’s historical stockholders’ equity has been retroactively restated to the first period presented; as a result of the Company not being updated to Ding Neng Holdings shareholder register, and that Ding Neng Holdings being defunct, the Company has written off all investments made in Ding Neng as loss on investment in subsidiary. In connection with the share exchange agreement with the shareholders of Ding Neng Holdings that contemplated the acquisition of Ding Neng Holdings and its subsidiaries, the Company elected to adopt the fiscal year used by Ding Neng Holdings, which was a calendar year; accordingly, the Company’s financial statements presented herein have been, and on a go-forward basis, will be prepared using a December 31 year-end date, and each operating period will cover twelve full calendar months. Share Purchase Agreement On October 19, 2015, the Company entered into a Share Purchase Agreement (the “Share Purchase Agreement”) with EGOOS Mobile Technology Company Limited, a British Virgin Islands holding company (“EGOOS BVI”), which owns 100% of EGOOS Mobile Technology Company Limited, a Hong Kong company (“EGOOS HK”), which owns 100% of Move the Purchase Consulting Management (Shenzhen) Co., Ltd. (“WOFE”), a foreign investment enterprise organized under the laws of the PRC, and which has, through various contractual agreements known as variable interest entity (“VIE”) agreements. These VIE agreements provide the WOFE management control and the rights to the profits of Guangzhou Yuzhi Information Technology Co., Ltd., a corporation organized under the laws of the PRC as a variable interest entity (“GZYZ”), which owns 100% of Shenzhen Qianhai Exce-card Technology Co., Ltd., a Chinese corporation (“SQEC”), which owns 100% of Guangzhou Rongsheng Information Technology Co., Ltd., a Chinese corporation (“GZRS”) and the sole shareholder of EGOOS BVI. The VIE agreements include: (1) an Exclusive Service Agreement between WOFE and GZYZ, which entitles WOFE to receive substantially all of the economic benefits of GZYZ in consideration for services provided by WOFE to GZYZ, (2) a Call Option Agreement with the shareholders of GZYZ, Yang Wenbin and Li Ping, allowing the WOFE to acquire all the shares of GZYZ as permitted by PRC laws, (3) a Voting Rights Proxy Agreement that provides WOFE with the all voting rights of the GZYZ’s shareholders, and (4) an Equity Pledge Agreement that pledges the shares in GZYZ to WOFE. Management has assessed the terms of the VIE agreements and determined that the Company is the primary beneficiary of those agreements based on Management’s ability to direct the use and disposition of GZYZ assets including the payment of future profits to the Company. Management also determined the Company has implicitly provided financial support to GYZY; accordingly, Management believes that GZYZ and its subsidiaries should be consolidated as variable interest entities of the Company. SQEC was incorporated on November 11, 2013. The Company was in the business of design, development, and proliferation of next generation debit and credit cards for financial institutions employing innovative secured encryption technology transmitted via audio wave technology; the Company intended to work with China Union Pay and China Construction Bank under a potential pilot program to develop and market to end user bank customers and business operators to adopt these next generation of cards by developing point of sale and commercial interfaces via software and other solutions to generate demand for these cards as a value-added alternative to current generation debit and credit cards. On January 28, 2015, ownership of SQEC’s was transferred from Bao, Shanshan to Xiang, Zuyue for a consideration of approximately $1,629,062 (RMB 10,000,000). Simultaneously, Xiang, Zuyue transferred 40% of ownership to Li, Na for a consideration of $651,625 (RMB 4,000,000). On July 24, 2015, SQEC entire ownership was collectively transferred from Xiang, Zuyue and Li, Na to Guangzhou Yuzhi Information Technology Co. Ltd. (“GZYZ”) for a consideration of approximately$1,629,062 (RMB 10,000,000). On March 16, 2015, the GZRS was incorporated as a wholly-owned subsidiary of SQEC. GZRS has an authorized capital of RMB1,000,000. As of the date of this report, GZRS had not been capitalized. Pursuant to the Share Purchase Agreement the Company issued a convertible note to EGOOS BVI’s sole shareholder for 100% equity interest in EGOOS BVI. The note is convertible into 15,000,000 shares of the Company’s common stock contingent on the following conditions: (i) the Company had effectuated a reverse split of all of the issued and outstanding Common Stock as of the date of the issuance of the note (the “Reverse Split”) and (ii) the average closing price of the common stock for 3 business days within any period of 10 consecutive business days exceeded $1.00 per share (the “Conversion Conditions”). Upon conversion of the note, the existing shareholders of the Registrant would own an aggregate of 24.7% of the post-acquisition entity. The note was issued at Par, it is unsecured, interest free, and is due on the second anniversary of the issuance date of the note. In accounting for the note, the Company has assumed that the note does not carry any discount from face that requires accretion as interest expense to its results of operations, including any potential beneficial conversion features. On January 26, 2016, the reverse split was effectuated, and subsequently, on February 4, 2016, the convertible promissory note was converted into 15 million newly issued shares of the Company’s common stock. The conversion of the promissory note has been recognized retroactively to the first period presented as a component of the reverse takeover transactions detailed below. The consolidated financial statements were prepared assuming that the Company has controlled EGOOS BVI and its intermediary holding companies, operating subsidiaries, and variable interest entities: EGOOS HK, WOFE, GZYZ, SQEC, and GZRS from the first period presented. The transactions detailed above have been accounted for as reverse takeover transactions and are capitalization of the Company, including the conversion of the convertible promissory note; accordingly, the Company (the legal acquirer) is considered the accounting acquiree and EGOOS BVI (the legal acquiree) is considered the accounting acquirer. No goodwill has been recorded. As a result of this transaction, the Company is deemed to be a continuation of the business of EGOOS BVI and SQEC.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A. Method of Accounting The Company maintains its general ledger and journals with the accrual method of accounting for financial reporting purposes. The financial statements and notes are representations of management. Accounting policies adopted by the Company conform to generally accepted accounting principles in the United States of America and have been consistently applied in the presentation of financial statements. B. Basis of presentation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). C. Principles of Consolidation The consolidated financial statements include the financial statements of all the subsidiaries and VIEs of the Company. All transactions and balances between the Company and its subsidiaries and VIEs have been eliminated upon consolidation The consolidated financial statements include the accounts of the Company, its subsidiaries for which the Company is the primary beneficiary. All significant inter-company accounts and transactions have been eliminated. The consolidated financial statements include 100% of assets, liabilities, and net income or loss of those wholly-owned subsidiaries. As of December 31, 2019 and 2018, the detailed identities of the consolidating subsidiaries are as follows: Name of Company Place of incorporation Attributable Registered EGOOS Mobile Technology Company Limited (“EGOOS BVI”) BVI 100 % $ 1 EGOOS Mobile Technology Company Limited (“EGOOS HK”) Hong Kong 100 % 1,290 Move the Purchase Consulting Management (Shenzhen) Co., Ltd. (“WOFE”) P.R.C 100 % - Guangzhou Yuzhi Information Technology Co., Ltd. (“GZYZ”) P.R.C 100 % 150,527 Shenzhen Qianhai Exce-card Technology Co., Ltd. (“SQEC”) P.R.C 100 % 150,527 Guangzhou Rongsheng Information Technology Co., Ltd. (“GZRS”) P.R.C 100 % 1,505,267 D. Use of estimates The preparation of the financial statements in conformity with U.S. 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. Actual results could differ from those estimates. Estimates are used for, but not limited to, the accounting for certain items such as allowance for doubtful accounts, depreciation and amortization, impairment, inventory allowance, taxes and contingencies. E. Contingencies Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company’s management assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or un-asserted claims that may result in such proceedings, the Company’s management evaluates the perceived merits of any legal proceedings or un-asserted claims as well as the perceived merits of the amount of relief sought or expected to be sought. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material would be disclosed. Loss contingencies considered to be remote by management are generally not disclosed unless they involve guarantees, in which case the guarantee would be disclosed. F. Cash and cash equivalents The Company classifies the following instruments as cash and cash equivalents: cash on hand, unrestricted bank deposits, and all highly liquid investments purchased with original maturities of three months or less. G. Accounts receivable Trade receivables are recognized and carried at the original invoice amount less allowance for any uncollectible amounts. An estimate for doubtful accounts is made when collection of the full amount is no longer probable. Bad debts are written off as incurred. H. Other receivables Other receivables are recognized and carried at the original invoice amount less allowance for any uncollectible amounts. An allowance for doubtful accounts is made when recovery of the full amount is doubtful. I. Property, plant and equipment Plant and equipment are carried at cost less accumulated depreciation. Depreciation is provided over their estimated useful lives, using the straight-line method with a salvage value of 10%. Estimated useful lives of the plant and equipment are as follows: Computer equipment 3 years Office furniture 5 years Motor vehicle 5 years The cost and related accumulated depreciation of assets sold or otherwise retired are eliminated from the accounts and any gain or loss is included in the statement of income. The cost of maintenance and repairs is charged to income as incurred, whereas significant renewals and betterments are capitalized. J. Accounting for the Impairment of Long-lived assets The long-lived assets held by the Company are reviewed in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Subtopic 360-10-35, “Accounting for the Impairment or Disposal of Long-Lived Assets,” for impairment whenever events or changes in circumstances indicate that the carrying amount of assets may not be recoverable. It is reasonably possible that these assets could become impaired as a result of technology or other industry changes. Impairment is present if carrying amount of an asset is less than its undiscounted cash flows to be generated. If an asset is considered impaired, a loss is recognized based on the amount by which the carrying amount exceeds the fair market value of the asset. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. The Company believes no impairment has occurred to its assets during 2020 and 2019. K. Income taxes The Company uses the accrual method of accounting to determine income taxes for the year. The Company has implemented FASB ASC 740 Accounting for Income Taxes. Income tax liabilities computed according to the United States, People’s Republic of China (PRC), and Hong Kong tax laws provide for the tax effects of transactions reported in the financial statements and consists of taxes currently due, plus deferred taxes, related primarily to differences arising from the recognition of expenses related to the depreciation of plant and equipment, amortization of intangible assets, and provisions for doubtful accounts between financial and tax reporting. The deferred tax assets and liabilities represent the future tax return consequences of those differences, which will be either taxable or deductible when the assets and liabilities are recovered or settled. Deferred taxes also are recognized for operating losses that are available to offset future income taxes. A valuation allowance is recognized for deferred tax assets if it is more likely than not, that the deferred tax assets will either expire before the Company is able to realize that tax benefit, or that future realization is uncertain. L. Stock-based compensation The Company has elected to use the Black-Scholes-Merton (“BSM”) pricing model to determine the fair value of stock options on the dates of grant. Also, the Company recognizes stock-based compensation using the straight-line method over the requisite service period. The Company values stock awards using the market price on or around the date the shares were awarded and includes the amount of compensation as a period compensation expense over the requisite service period. For the years ended December 31, 2019 and 2018, $0 and $1,113,217 stock-based compensation was recognized. M. Foreign currency translation The accompanying financial statements are presented in United States dollars (USD). The functional currency of the Company is the USD and Renminbi (RMB). The financial statements are translated into USD from RMB at year-end exchange rates as to assets and liabilities and average exchange rates as to revenues and expenses. Capital accounts are translated at their historical exchange rates when the capital transactions occurred. Exchange rates December 31, December 31, Year-end/period-end RMB : US$ exchange rate 6.9762 6.8764 Average annual/period RMB : US$ exchange rate 6.8944 6.6146 The RMB is not freely convertible into foreign currency and all foreign exchange transactions must take place through authorized institutions. No representation is made that the RMB amounts could have been, or could be, converted into US Dollar at the rates used in translation. N. Revenue recognition The Company recognizes services revenue when the following criteria have been met: 1.) it has agreed and entered into a contract for service with its customers pursuant to which the Company identifies the contract and determines the transactions price with its customers, 2.) the contract has set forth a fixed fee for the services to be rendered under which the Company has determined the transaction’s price and the allocation of such price to performance obligations with the customers, 3.) the Company has fully rendered service to its customers, and there are no additional obligations that exist that under the terms of the contract that the Company has not fulfilled such that the Company recognizes revenue when the performance obligation is satisfied, and 4.) the Company has either received payment, or reasonably expects payment from the customer in accordance to the payment terms set forth in the contract. O. Earnings per share Basic earnings per share is computed on the basis of the weighted average number of common stock outstanding during the period. Diluted earnings per share is computed on the basis of the weighted average number of common stock and common stock equivalents outstanding. Dilutive securities having an anti-dilutive effect on diluted earnings per share are excluded from the calculation. Dilution is computed by applying the treasury stock method for options and warrants. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. P. Comprehensive loss Comprehensive income (loss) is defined to include all changes in equity except those resulting from investments by owners and distributions to owners. The Company presents components of comprehensive income with equal prominence to other financial statements. The Company’s current component of other comprehensive income is the foreign currency translation adjustment. Q. Subsequent events The Company evaluates subsequent events that have occurred after the balance sheet date but before the financial statements are issued. There are two types of subsequent events: (1) recognized, or those that provide additional evidence with respect to conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing financial statements, and (2) non recognized, or those that provide evidence with respect to conditions that did not exist at the date of the balance sheet but arose subsequent to that date. R. Fair Value of Financial Instruments ASC 825, Financial Instruments, requires that the Company discloses estimated fair values of financial instruments. The carrying amounts reported in the balance sheets for current assets and current liabilities qualifying as financial instruments are a reasonable estimate of fair value. The Company applies the provisions of ASC 820-10, Fair Value Measurements and Disclosures. ASC 820-10 defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. For certain financial instruments, including cash and cash equivalents, loan receivables and short-term bank loans, the carrying amounts approximate fair value due to their relatively short maturities. The three levels of valuation hierarchy are defined as follows: ● Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. ● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. ● Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement. The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815. The following tables present the Company’s financial assets and liabilities at fair value in accordance to ASC 820-10 As of December 31, 2019: Quoted in Active (Level 1) Significant (Level 2) Significant (Level 3) Total Financial assets: Cash $ 16 $ - $ - $ 16 Total financial assets $ 16 $ - $ - $ 16 As of December 31, 2018: Quoted in Active (Level 1) Significant (Level 2) Significant (Level 3) Total Financial assets: Cash $ 504 $ - $ - $ 504 Total financial assets $ 504 $ - $ - $ 504 S. Recently issued accounting standards In June 2016, the FASB issued ASU 2016-13, “Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments”, which will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The guidance replaces the incurred loss impairment methodology with an expected credit loss model for which a company recognizes an allowance based on the estimate of expected credit loss. The standard did not have a material impact on our consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, “Intangibles — Goodwill and Other (Topic 350): simplifying the test for goodwill impairment”, the guidance removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. Goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not the difference between the fair value and carrying amount of goodwill which was the step 2 test before. The ASU should be adopted on a prospective basis for the annual or any interim goodwill impairment tests beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The standard did not have a material impact on our consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, “Changes to the Disclosure Requirements for Fair Value Measurement.” This standard eliminates the current requirement to disclose the amount or reason for transfers between level 1 and level 2 of the fair value hierarchy and the requirement to disclose the valuation methodology for level 3 fair value measurements. The standard includes additional disclosure requirements for level 3 fair value measurements, including the requirement to disclose the changes in unrealized gains and losses in other comprehensive income during the period and permits the disclosure of other relevant quantitative information for certain unobservable inputs. The new guidance is effective for interim and annual periods beginning after December 15, 2019. The standard did not have a material impact on our consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, “Internal-Use Software — Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement.” This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement service contract with the guidance to capitalize implementation costs of internal use software. The ASU also requires that the costs for implementation activities during the application development phase be capitalized in a hosting arrangement service contract, and costs during the preliminary and post implementation phase are expensed. The new guidance is effective for interim and annual periods beginning after December 15, 2019. The standard did not have a material impact on our consolidated financial statements. In October 2018, the FASB issued ASU 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities, (“ASU 2018-17”). ASU 2018-17 requires reporting entities to consider indirect interests held through related parties under common control on a proportional basis rather than as the equivalent of a direct interest in its entirety for determining whether a decision-making fee is a variable interest. The standard is effective for all entities for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. Entities are required to apply the amendments in ASU 2018-17 retrospectively with a cumulative-effect adjustment to retained earnings at the beginning of the earliest period presented. The standard did not have a material impact on our consolidated financial statements In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments, (“ASU 2019-04”). ASU 2019-04 clarifies and improves areas of guidance related to the recently issued standards on credit losses (ASU 2016-13), hedging (ASU 2017-12), and recognition and measurement of financial instruments (ASU 2016-01). The amendments generally have the same effective dates as their related standards. If already adopted, the amendments of ASU 2016-01 and ASU 2016-13 are effective for fiscal years beginning after December 15, 2019 and the amendments of ASU 2017-12 are effective as of the beginning of the Company’s next annual reporting period; early adoption is permitted. The standard did not have a material impact on our consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. ASU 2019-12 will simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. For public business entities, the amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. ASU 2019-12 will be effective for the Company in the first quarter of 2021. The Company does not expect the adoption of the new accounting rules to have a material impact on the Company’s financial condition, results of operations, cash flows or disclosures. In March 2020, the FASB issued ASU 2020-03, Codification Improvements to Financial Instruments, (“ASU 2020-03”). ASU 2020-03 improves various financial instruments topics, including the CECL Standard. ASU 2020-03 includes seven different issues that describe the areas of improvement and the related amendments to GAAP, intended to make the standards easier to understand and apply by eliminating inconsistencies and providing clarifications. The amendments related to Issue 1, Issue 2, Issue 4 and Issue 5 were effective upon issuance of ASU 2020-03. The amendments related to Issue 3, Issue 6 and Issue 7 were effective for the Company beginning on January 1, 2020. The Company does not anticipate that the adoption of the new standard will have a material effect on its consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. ASU 2020-04 provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform. The amendments in this standard can be applied anytime between the first quarter of 2020 and the fourth quarter of 2022. The Company is currently in the process of evaluating the impact of adoption of the new rules on the Company’s financial condition, results of operations, cash flows and disclosures. Other than the above, management does not believe that any of the recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s consolidated financial statements. T. Going Concern The Company has suffered from losses from operation and significant accumulated deficits. It’s net loss for the year ended December 31, 2019 and 2018 were $33,276 and $5,607,041 respectively, and the accumulated losses as of December 31, 2019 and 2018 were $27,092,388 and $27,059,112, respectively. As of December 31, 2020 and 2019, the Company has cash and cash equivalents of $16 and $504, respectively and net cash used in operating activities during the year ended December 31, 2019 and 2018 were $286 and $283,480, respectively. The Company comes to have insufficient cash flows generated from operations and provided for development. In addition, the Company continues to experience negative cash flows from operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The management determines that additional effort will be required to improve the operation so that the Company may generate more profits to sustain its continuous. The Company may explore the channels to raise additional capital or any opportunities to improve the cash flow in the years to come. Subsequent to the year ended December 31, 2020, the Company had raised $1,050,000 (gross proceeds) and $1,780,000 (gross proceeds) as of April 23, 2021 and July 29, 2021, respectively, from share placement to improve the financial position and cash flow of the Company.

Cash and Cash Equivalents

Cash and Cash Equivalents	12 Months Ended
	Dec. 31, 2019
Cash and Cash Equivalents [Abstract]
CASH AND CASH EQUIVALENTS	NOTE 3. CASH AND CASH EQUIVALENTS Cash consisted of the following: As of As of Cash on hand $ - $ - Cash in banks 16 504 Total cash $ 16 $ 504

Property, Plant and Equipment,

Property, Plant and Equipment, Net	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT, NET	NOTE 4. PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment consisted of the following: As of December 31, As of December 31, At Cost: Office equipment $ 18,320 $ 18,320 Office furniture 12,723 12,723 Total property and equipment 31,043 31,043 Less: accumulated depreciation (31,043 ) (30,459 ) Less: impairment - - Property, plant and equipment, net $ - $ 584 Depreciation expense was $584 and $7,081, respectively for the years ended December 31, 2019 and 2018.

Intangible Assets, Net

Intangible Assets, Net	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, NET	NOTE 5. INTANGIBLE ASSETS, NET Intangible assets consisted of the following: As of December 31, As of December 31, At Cost: Patent $ - $ - Software 1,251 1,251 Total intangible assets 1,251 1,251 Less: accumulated amortization (1,251 ) (1,251 ) Less: impairment - - Intangible assets, net $ - $ - On July 7, 2017, SQEC and the director and CEO of the Company, Mr. Zuyue Xiang (“Xiang”), entered into an intangible asset transfer agreement. Xiang transferred his rights and ownership of the patent to a voice smart card and trading system for a consideration of RMB 10,000,000 (equivalent to USD 1,447,696). The patent was impaired during the year ended December 31, 2018 and was written off to other expense. Amortization expense was $0 and $0, respectively for the years ended December 31, 2019 and 2018.

Related Party Payable

Related Party Payable	12 Months Ended
	Dec. 31, 2019
Related Party Payable [Abstract]
RELATED PARTY PAYABLE	NOTE 6. RELATED PARTY PAYABLE The details of Related Party Payables consisted of the followings: December 31, December 31, Beijing Yuxin Shangfang Technology Co., Ltd. $ - $ 285,894 Hainan Xin Jing Yuan Co., Ltd. - 43,627 Xiang, Zuyue, director of SQEC and shareholder - 102,217 Xiang, Lingqing, employee of SQEC - 1,504 Lim, Jehn Ming, shareholder of EGOOS BVI - 1,289 Wang, Yue, director of EGOOS HK - 161,523 Yang, Mei, shareholder - 393,963 Li, Ping, director of WOFE - 4,023 Forgiveness of Related Party Payables $ - $ 994,040

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 7. RELATED PARTY TRANSACTIONS For the year ended December 31, 2019, the Company entered into agreements with major shareholders and directors of the subsidiaries of the Company to forgive the Related Party Payables amounting to $994,040 and the details consisted of the followings: December 31, Beijing Yuxin Shangfang Technology Co., Ltd. $ 285,894 Hainan Xin Jing Yuan Co., Ltd. 43,627 Xiang, Zuyue, director of SQEC and shareholder 102,217 Xiang, Lingqing, employee of SQEC 1,504 Lim, Jehn Ming, shareholder of EGOOS BVI 1,289 Wang, Yue, director of EGOOS HK 161,523 Yang, Mei, shareholder 393,963 Li, Ping, director of WOFE 4,023 Forgiveness of Related Party Payables $ 994,040 For the year ended December 31, 2019, the Company entered into agreements with major shareholders and directors of the subsidiaries of the Company to assume or receive, as applicable certain assets and liabilities amounting to $414,226 and the details consisted of the followings: December 31, Other receivable $ 277 Prepaid taxes 6,422 Accounts payable (322,368 ) Other payable (51,806 ) Accrued expenses (46,751 ) Net liabilities undertaken by related party $ (414,226 )

Taxation

Taxation	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
TAXATION	NOTE 8. TAXATION a) Corporate Income Taxes The Company was incorporated in the United States of America (“USA”). The Company did not generate any taxable income from its operations for the years ended December 31, 2019 and 2018. The Company was incorporated in the United States (“USA”) and subject to taxes in the United States. The Company did not generate any taxable income from its operations for the years ended December 31, 2019 and 2018. The Company has evaluated their respective income tax positions and has determined that they do not have any uncertain tax positions. The Company will recognize interest and penalties related to any uncertain tax positions through their income tax expense. The Company is subject to franchise tax filing requirements in the State of Delaware. The components of the income tax expense are as follows: Year ended December 31, 2019 Year ended December 31, 2018 Current $ - $ - Deferred - - Total $ - $ - Uncertain Tax Positions Interest associated with unrecognized tax benefits are classified as income tax, and penalties are classified in selling, general and administrative expenses in the statements of operations. For the years ended December 31, 2020, and 2019, the Company had no unrecognized tax benefits and related interest and penalties expenses. Currently, the Company is not subject to examination by major tax jurisdictions. b) Deferred Taxes Deferred income tax benefits arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements, which will result in taxable or deductible amounts in the future. In evaluating the Company’s ability to recover the deferred tax assets, the management considers all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax-planning strategies, and results of recent operations. In projecting future taxable income, the Company begins with historical results adjusted for the results of discontinued operations and incorporate assumptions about the amount of future state, federal, and foreign pretax operating income adjusted for items that do not have tax consequences. The assumptions about future taxable income require the use of significant judgment and are consistent with the plans and estimates that the Company is using to manage the underlying businesses. As of December 31, 2020 and 2019, management was uncertain as to whether or not the Company would be able to utilize the potential deferred tax assets arising from net operating losses’ since the Company is not currently generating any revenue; accordingly, the Company has not recognized a deferred tax asset. c) Taxes Payable Taxes payable consisted of the following: As of December 31, As of Corporate income tax payable $ - $ - Franchise tax payable 400 - Other surtaxes payable - - Total $ 400 $ -

Stockholders_ Equity

Stockholders’ Equity	12 Months Ended
	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 9. STOCKHOLDERS’ EQUITY Common stock As of December 31, 2019 and 2018, the Company had 100,000,000 shares of common stock, par value of $0.001 per share, authorized, 21,027,713 of which shares were issued and outstanding. Stock option compensation On October 20, 2017, the Company issued to Mr. Yang Liu, the option to purchase 1,050,000 shares of the Company’s common stock to be issued upon his exercise of such option. The option vests in three tranches according to the following schedule: 350,000 shares at October 19, 2018, 350,000 shares at October 19, 2019, and 350,000 at October 19, 2020. All three tranches expire on October 19, 2022. The Company has used the widely accepted Black Scholes Merton Option Pricing Model to measure the fair value of these securities, because of their plain vanilla nature of this option. The Company employed the followings assumptions to calculate the fair value of the option: expected forfeiture rate: 0%, risk free rate: 2.03%, expiration date: October 19, 2022, exercise price: $1.00, annualized volatility: 602.71%, dividend yield: 0%, and the Company’s closing stock price at year end. For the years ended December 31, 2018 and 2017, the Company recorded stock option compensation expense of $1,113,217 and $373,509. On August 22, 2018, Mr. Liu resigned from his position as Chief Executive Officer. The stock options were not fully vested since his resignation was before the anniversary of his employment period. Mr. Liu had forfeited all his stock options upon his resignation on August 30, 2018. For the years ended December 31, 2019, no stock option has been issued.

Loss Per Share

Loss Per Share	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
LOSS PER SHARE	NOTE 10. LOSS PER SHARE The following table presents a reconciliation of basic and diluted earnings per share: For the years ended 2019 2018 Numerator: Net loss $ (33,276 ) $ (5,607,041 ) Denominator: Weighted average number of common stock outstanding - basic and diluted 21,027,713 21,027,713 Loss per share – Basic and diluted: $ (0.00158 ) $ (0.27 )

Going Concern Uncertainties

Going Concern Uncertainties	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN UNCERTAINTIES	NOTE 11. GOING CONCERN UNCERTAINTIES These financial statements have been prepared assuming that Company will continue as a going concern, which contemplates the realization of assets and the discharge of liabilities in the normal course of business for the foreseeable future. As of December 31, 2019 and 2018, the Company had accumulated deficits of $27,092,388 and $27,059,112, respectively, and working capital deficit of current liabilities exceeding current assets by $32,390 and $1,407,762, respectively. Management’s plan to support the Company in operations and to maintain its business strategy is to raise funds through public and private offerings and to rely on officers and directors to perform essential functions with minimal compensation. If the Company do not raise all of the money we need from public or private offerings, the Company will have to find alternative sources, such as loans or advances from our officers, directors or others. Such additional financing may not become available on acceptable terms and there can be no assurance that any additional financing that the Company does obtain will be sufficient to meet its needs in the long term. Even if the Company is able to obtain additional financing, it may contain undue restrictions on our operations, in the case of debt financing, or cause substantial dilution for our stockholders, in the case of equity financing. If the Company require additional cash and cannot raise it, the Company will either have to suspend operations or cease business entirely. The accompanying financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern.

Concentration of Risk

Concentration of Risk	12 Months Ended
	Dec. 31, 2019
Risks and Uncertainties [Abstract]
CONCENTRATION OF RISK	NOTE 12. CONCENTRATION OF RISK a) Major Customer The Company has certain customers who represented 10% or more of the Company’s total sales. For the year ended December 31, 2019, the Company did not generate any revenue. For the year ended December 31, 2018, the Company generated service revenue from one customer, which represented 100% of the revenue. b) Major Vendors and Accounts Payable The Company has certain vendors who represented 10% or more of the Company’s total cost of sales or expenses, or whose accounts payable balances individually represented 10% or more of the Company’s total accounts payable. For the year ended December 31, 2019, there was no transaction on purchase. For the year ended December 31, 2018, there was no concentration in any specific vendor. c) Credit Risk The Company maintains cash balances at several financial institutions located in the United States and the PRC. Accounts located in the United States are insured by the Federal Deposit Insurance Corporation up to $100,000. Accounts located outside of the United States are not insured and may be subject to such risk.

Significant Events

Significant Events	12 Months Ended
	Dec. 31, 2019
Significant Events Disclosure [Abstract]
SIGNIFICANT EVENTS	NOTE 13. SIGNIFICANT EVENTS In December 2019, there was an outbreak of the novel coronavirus (COVID-19) in China that has since spread to many other regions of the world. The outbreak was subsequently labeled as a global pandemic by the World Health Organization in March 2020. It is anticipated that the COVID-19 outbreak may ultimately have a material adverse impact on the Company’s results of operations, financial position and cash flow in 2020 including, but not limited to: Transportation delays and cost increases, more extensive travel restrictions, closures or disruptions of businesses and facilities or social, economic, political or labor instability in the affected areas, may impact the Company’s customers’ operations. Customers may not be able to repay their loans on time due to lack of capital. The extent of the impact of COVID-19 on the Company’s operations and financial results depends on future developments and is highly uncertain due to the unknown duration and severity of the outbreak. The situation is changing rapidly and future impacts may materialize that are not yet known. The Company continues to monitor the situation closely and may implement further measures to provide additional financial flexibility and improve the Company’s cash position and liquidity.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 14. SUBSEQUENT EVENTS On February 25, 2021, the holder of the majority outstanding voting stock of the Company restructured the board of directors (the “Board”) of the Company by removing Mei Yang, Zuyue Xiang and Minqin Tang from the Board and appointing the following individuals to the Board (the “New Board”): Jiang Hui, Hon Man Yun, Hong Chen, Xiaoyue Zhang and Ming Yi, effective immediately. Among the member of the New Board, Ming Yi shall serve as the Chair of the Audit Committee, Hong Chen the Chair of the Compensation Committee and Xiaoyue Zhang the Chair of the Nominating and Corporate Committee. On February 25, 2021, the New Board removed Zuyue Xiang as the Chief Executive Officer (the “CEO”) and Zhenpeng Gao as the Chief Financial Officer (“CFO”) and appointed Jiang Hui as the new CEO and Hon Man Yun as the new CFO, effective immediately. The New Board believes that the new CEO and CFO shall use their best efforts to execute the Board’s vision to change the direction of the Company’s business. On March 31, 2021 (the “Commencement Date”), the Company and Joseph Stone Capital, LLC (“JSC”) entered into an Advisory and Finder Agreement (the “Agreement”). Pursuant to the Agreement, JSC has been engaged to advise the Company on matters related to the Company’s capital market activities. Additionally, at the request of the Company, JSC will help the Company identify one or more investors, business and/or financing opportunities (each a “Target”). Pursuant to the Agreement, the Company paid JSC an initial advisory fee equal to $12,500 plus $5,000 in non-accountable expenses. In addition, the Company also paid JSC another $9,500 advisory fee, $3,000 escrow expense plus additional $5,000 in non-accountable expenses upon the closing of an initial transaction with investors identified by the Company in connection with the Private Placement I as described below. With respect to any investors introduced to the Company directly or indirectly by JSC, JSC shall be paid a cash fee equal to ten percent of the gross proceeds raised by the Company from any such investor (the “Commission Fee”). The Agreement continued in effect for a period of three (3) months from the Commencement Date and might be terminated upon thirty (30) days of written notice by either party after the three (3) months. Should the Company effectuate a transaction (as defined in the Agreement) with any of the Target(s) identified by Advisor in the eighteen (18)-month period after termination of Agreement, Advisor will be due the Commission Fee. JSC also has a right of first refusal with respect to any financings that the Company decides to commence during the 18-month period following the consummation of a Transaction (as defined in the Agreement”). On April 23, 2021, the Company entered into subscription agreements with five accredited investors for the sale and issuance of 10,500,000 shares of common stock of the Company at a per-share price of $0.10 for aggregate gross proceeds of $1,050,000 (the “Private Placement I”). The Company closed the Private Placement I on April 24, 2021 and intends to use the funds for working capital. No brokers or placement agents was involved. Our Private Placement I is exempt from the registration requirements of Section 5 of the Securities Act of 1933, as amended (the “Securities Act”), in reliance on Section 4(a)(2) thereof and/or Rule 506 of Regulation D and Regulation S thereunder On May 28, 2021, the Company and Hudson Capital USA Inc. (the “Seller”) entered into a vehicle purchase agreement, pursuant to which the Company agreed to buy from the Seller $100,000 worth of motor vehicle. The Company and Seller are related parties because the majority of the board of directors of the Company are the board members of the Seller, constituting the majority of the board of directors of the Seller and Hon Man Yun serves as the Chief Financial Officer of both the Company and Seller. On June 4, 2021, the Company (the “Buyer”) and Hudson Capital USA Inc. (the “Seller”) entered into a share transfer agreement (the “Archax SPA”), pursuant to which the Company agreed to buy from the Seller $500,000 worth of shares (1.74% of ownership) of Archax Holdings Ltd. (“Archax”), a company organized under the laws of England, UK. Archax is a global digital asset trading platform and ecosystem. In addition, on June 4, 2021, the Company and the Seller entered into another share transfer agreement (the “Montis SPA”), pursuant to which the Company agreed to buy from the Seller $250,000 worth of shares (2.63% of ownership) of Montis Digital Limited (“Montis”), a company organized under the laws of Gibraltar. Montis primarily provides marketing and consulting services for digital assets and related entities in the digital asset ecosystems. Each of the Archax SPA and Montis SPA contained customary representations and warranties for transactions of this nature and scale. The Company and Seller are related parties because the majority of the board of directors of the Company are the board members of the Seller, constituting the majority of the board of directors of the Seller and Hon Man Yun serves as the Chief Financial Officer of both the Company and Seller. On June 16, 2021, the Company and Seller closed the stock purchase transaction in accordance with the Montis SPA. On June 17, 2021, the Company and Seller closed the stock purchase transaction in accordance with the Archax SPA. On July 19, 2021, the Company entered into a Consulting Agreement with PX Global Advisors, LLC. for acting as advisor to assist the Company on business combination and listing on a U.S. national stock exchange for a consultancy fee of $1,500,000. On July 29, 2021, the Company entered into subscription agreements with four accredited investors for the sale and issuance of seventeen million and eighty hundred thousand shares (17,800,000) shares of common stock at a per-share price of $0.10 for aggregate gross proceeds of $1,780,000 (the “Private Placement II”). . The Company closed the Private Placement II on July 30, 2021 and intends to use the funds for working capital. No brokers or placement agents was involved. Our Private Placement II is exempt from the registration requirements the Securities Act, in reliance on Section 4(a)(2) thereof and/or Rule 506 of Regulation D and Regulation S thereunder. Except for the above mentioned matters, no other material events are required to be adjusted or disclosed as of the report date of the consolidated financial statements.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Method of Accounting	A. Method of Accounting The Company maintains its general ledger and journals with the accrual method of accounting for financial reporting purposes. The financial statements and notes are representations of management. Accounting policies adopted by the Company conform to generally accepted accounting principles in the United States of America and have been consistently applied in the presentation of financial statements.
Basis of presentation	B. Basis of presentation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Principles of Consolidation	C. Principles of Consolidation The consolidated financial statements include the financial statements of all the subsidiaries and VIEs of the Company. All transactions and balances between the Company and its subsidiaries and VIEs have been eliminated upon consolidation The consolidated financial statements include the accounts of the Company, its subsidiaries for which the Company is the primary beneficiary. All significant inter-company accounts and transactions have been eliminated. The consolidated financial statements include 100% of assets, liabilities, and net income or loss of those wholly-owned subsidiaries. As of December 31, 2019 and 2018, the detailed identities of the consolidating subsidiaries are as follows: Name of Company Place of incorporation Attributable Registered EGOOS Mobile Technology Company Limited (“EGOOS BVI”) BVI 100 % $ 1 EGOOS Mobile Technology Company Limited (“EGOOS HK”) Hong Kong 100 % 1,290 Move the Purchase Consulting Management (Shenzhen) Co., Ltd. (“WOFE”) P.R.C 100 % - Guangzhou Yuzhi Information Technology Co., Ltd. (“GZYZ”) P.R.C 100 % 150,527 Shenzhen Qianhai Exce-card Technology Co., Ltd. (“SQEC”) P.R.C 100 % 150,527 Guangzhou Rongsheng Information Technology Co., Ltd. (“GZRS”) P.R.C 100 % 1,505,267
Use of estimates	D. Use of estimates The preparation of the financial statements in conformity with U.S. 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. Actual results could differ from those estimates. Estimates are used for, but not limited to, the accounting for certain items such as allowance for doubtful accounts, depreciation and amortization, impairment, inventory allowance, taxes and contingencies.
Contingencies	E. Contingencies Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company’s management assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or un-asserted claims that may result in such proceedings, the Company’s management evaluates the perceived merits of any legal proceedings or un-asserted claims as well as the perceived merits of the amount of relief sought or expected to be sought. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material would be disclosed. Loss contingencies considered to be remote by management are generally not disclosed unless they involve guarantees, in which case the guarantee would be disclosed.
Cash and cash equivalents	F. Cash and cash equivalents The Company classifies the following instruments as cash and cash equivalents: cash on hand, unrestricted bank deposits, and all highly liquid investments purchased with original maturities of three months or less.
Accounts receivable	G. Accounts receivable
Other receivables	H. Other receivables Other receivables are recognized and carried at the original invoice amount less allowance for any uncollectible amounts. An allowance for doubtful accounts is made when recovery of the full amount is doubtful.
Property, plant and equipment	I. Property, plant and equipment Plant and equipment are carried at cost less accumulated depreciation. Depreciation is provided over their estimated useful lives, using the straight-line method with a salvage value of 10%. Estimated useful lives of the plant and equipment are as follows: Computer equipment 3 years Office furniture 5 years Motor vehicle 5 years The cost and related accumulated depreciation of assets sold or otherwise retired are eliminated from the accounts and any gain or loss is included in the statement of income. The cost of maintenance and repairs is charged to income as incurred, whereas significant renewals and betterments are capitalized.
Accounting for the Impairment of Long-lived assets	J. Accounting for the Impairment of Long-lived assets The long-lived assets held by the Company are reviewed in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Subtopic 360-10-35, “Accounting for the Impairment or Disposal of Long-Lived Assets,” for impairment whenever events or changes in circumstances indicate that the carrying amount of assets may not be recoverable. It is reasonably possible that these assets could become impaired as a result of technology or other industry changes. Impairment is present if carrying amount of an asset is less than its undiscounted cash flows to be generated. If an asset is considered impaired, a loss is recognized based on the amount by which the carrying amount exceeds the fair market value of the asset. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. The Company believes no impairment has occurred to its assets during 2020 and 2019.
Income taxes	K. Income taxes The Company uses the accrual method of accounting to determine income taxes for the year. The Company has implemented FASB ASC 740 Accounting for Income Taxes. Income tax liabilities computed according to the United States, People’s Republic of China (PRC), and Hong Kong tax laws provide for the tax effects of transactions reported in the financial statements and consists of taxes currently due, plus deferred taxes, related primarily to differences arising from the recognition of expenses related to the depreciation of plant and equipment, amortization of intangible assets, and provisions for doubtful accounts between financial and tax reporting. The deferred tax assets and liabilities represent the future tax return consequences of those differences, which will be either taxable or deductible when the assets and liabilities are recovered or settled. Deferred taxes also are recognized for operating losses that are available to offset future income taxes. A valuation allowance is recognized for deferred tax assets if it is more likely than not, that the deferred tax assets will either expire before the Company is able to realize that tax benefit, or that future realization is uncertain.
Stock-based compensation	L. Stock-based compensation The Company has elected to use the Black-Scholes-Merton (“BSM”) pricing model to determine the fair value of stock options on the dates of grant. Also, the Company recognizes stock-based compensation using the straight-line method over the requisite service period. The Company values stock awards using the market price on or around the date the shares were awarded and includes the amount of compensation as a period compensation expense over the requisite service period. For the years ended December 31, 2019 and 2018, $0 and $1,113,217 stock-based compensation was recognized.
Foreign currency translation	M. Foreign currency translation The accompanying financial statements are presented in United States dollars (USD). The functional currency of the Company is the USD and Renminbi (RMB). The financial statements are translated into USD from RMB at year-end exchange rates as to assets and liabilities and average exchange rates as to revenues and expenses. Capital accounts are translated at their historical exchange rates when the capital transactions occurred. Exchange rates December 31, December 31, Year-end/period-end RMB : US$ exchange rate 6.9762 6.8764 Average annual/period RMB : US$ exchange rate 6.8944 6.6146 The RMB is not freely convertible into foreign currency and all foreign exchange transactions must take place through authorized institutions. No representation is made that the RMB amounts could have been, or could be, converted into US Dollar at the rates used in translation.
Revenue recognition	N. Revenue recognition The Company recognizes services revenue when the following criteria have been met: 1.) it has agreed and entered into a contract for service with its customers pursuant to which the Company identifies the contract and determines the transactions price with its customers, 2.) the contract has set forth a fixed fee for the services to be rendered under which the Company has determined the transaction’s price and the allocation of such price to performance obligations with the customers, 3.) the Company has fully rendered service to its customers, and there are no additional obligations that exist that under the terms of the contract that the Company has not fulfilled such that the Company recognizes revenue when the performance obligation is satisfied, and 4.) the Company has either received payment, or reasonably expects payment from the customer in accordance to the payment terms set forth in the contract.
Earnings per share	O. Earnings per share Basic earnings per share is computed on the basis of the weighted average number of common stock outstanding during the period. Diluted earnings per share is computed on the basis of the weighted average number of common stock and common stock equivalents outstanding. Dilutive securities having an anti-dilutive effect on diluted earnings per share are excluded from the calculation. Dilution is computed by applying the treasury stock method for options and warrants. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period.
Comprehensive loss	P. Comprehensive loss Comprehensive income (loss) is defined to include all changes in equity except those resulting from investments by owners and distributions to owners. The Company presents components of comprehensive income with equal prominence to other financial statements. The Company’s current component of other comprehensive income is the foreign currency translation adjustment.
Subsequent events	Q. Subsequent events The Company evaluates subsequent events that have occurred after the balance sheet date but before the financial statements are issued. There are two types of subsequent events: (1) recognized, or those that provide additional evidence with respect to conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing financial statements, and (2) non recognized, or those that provide evidence with respect to conditions that did not exist at the date of the balance sheet but arose subsequent to that date.
Fair Value of Financial Instruments	R. Fair Value of Financial Instruments ASC 825, Financial Instruments, requires that the Company discloses estimated fair values of financial instruments. The carrying amounts reported in the balance sheets for current assets and current liabilities qualifying as financial instruments are a reasonable estimate of fair value. The Company applies the provisions of ASC 820-10, Fair Value Measurements and Disclosures. ASC 820-10 defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. For certain financial instruments, including cash and cash equivalents, loan receivables and short-term bank loans, the carrying amounts approximate fair value due to their relatively short maturities. The three levels of valuation hierarchy are defined as follows: ● Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. ● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. ● Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement. The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815. The following tables present the Company’s financial assets and liabilities at fair value in accordance to ASC 820-10 As of December 31, 2019: Quoted in Active (Level 1) Significant (Level 2) Significant (Level 3) Total Financial assets: Cash $ 16 $ - $ - $ 16 Total financial assets $ 16 $ - $ - $ 16 As of December 31, 2018: Quoted in Active (Level 1) Significant (Level 2) Significant (Level 3) Total Financial assets: Cash $ 504 $ - $ - $ 504 Total financial assets $ 504 $ - $ - $ 504
Recently issued accounting standards	S. Recently issued accounting standards In June 2016, the FASB issued ASU 2016-13, “Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments”, which will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The guidance replaces the incurred loss impairment methodology with an expected credit loss model for which a company recognizes an allowance based on the estimate of expected credit loss. The standard did not have a material impact on our consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, “Intangibles — Goodwill and Other (Topic 350): simplifying the test for goodwill impairment”, the guidance removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. Goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not the difference between the fair value and carrying amount of goodwill which was the step 2 test before. The ASU should be adopted on a prospective basis for the annual or any interim goodwill impairment tests beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The standard did not have a material impact on our consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, “Changes to the Disclosure Requirements for Fair Value Measurement.” This standard eliminates the current requirement to disclose the amount or reason for transfers between level 1 and level 2 of the fair value hierarchy and the requirement to disclose the valuation methodology for level 3 fair value measurements. The standard includes additional disclosure requirements for level 3 fair value measurements, including the requirement to disclose the changes in unrealized gains and losses in other comprehensive income during the period and permits the disclosure of other relevant quantitative information for certain unobservable inputs. The new guidance is effective for interim and annual periods beginning after December 15, 2019. The standard did not have a material impact on our consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, “Internal-Use Software — Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement.” This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement service contract with the guidance to capitalize implementation costs of internal use software. The ASU also requires that the costs for implementation activities during the application development phase be capitalized in a hosting arrangement service contract, and costs during the preliminary and post implementation phase are expensed. The new guidance is effective for interim and annual periods beginning after December 15, 2019. The standard did not have a material impact on our consolidated financial statements. In October 2018, the FASB issued ASU 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities, (“ASU 2018-17”). ASU 2018-17 requires reporting entities to consider indirect interests held through related parties under common control on a proportional basis rather than as the equivalent of a direct interest in its entirety for determining whether a decision-making fee is a variable interest. The standard is effective for all entities for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. Entities are required to apply the amendments in ASU 2018-17 retrospectively with a cumulative-effect adjustment to retained earnings at the beginning of the earliest period presented. The standard did not have a material impact on our consolidated financial statements In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments, (“ASU 2019-04”). ASU 2019-04 clarifies and improves areas of guidance related to the recently issued standards on credit losses (ASU 2016-13), hedging (ASU 2017-12), and recognition and measurement of financial instruments (ASU 2016-01). The amendments generally have the same effective dates as their related standards. If already adopted, the amendments of ASU 2016-01 and ASU 2016-13 are effective for fiscal years beginning after December 15, 2019 and the amendments of ASU 2017-12 are effective as of the beginning of the Company’s next annual reporting period; early adoption is permitted. The standard did not have a material impact on our consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. ASU 2019-12 will simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. For public business entities, the amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. ASU 2019-12 will be effective for the Company in the first quarter of 2021. The Company does not expect the adoption of the new accounting rules to have a material impact on the Company’s financial condition, results of operations, cash flows or disclosures. In March 2020, the FASB issued ASU 2020-03, Codification Improvements to Financial Instruments, (“ASU 2020-03”). ASU 2020-03 improves various financial instruments topics, including the CECL Standard. ASU 2020-03 includes seven different issues that describe the areas of improvement and the related amendments to GAAP, intended to make the standards easier to understand and apply by eliminating inconsistencies and providing clarifications. The amendments related to Issue 1, Issue 2, Issue 4 and Issue 5 were effective upon issuance of ASU 2020-03. The amendments related to Issue 3, Issue 6 and Issue 7 were effective for the Company beginning on January 1, 2020. The Company does not anticipate that the adoption of the new standard will have a material effect on its consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. ASU 2020-04 provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform. The amendments in this standard can be applied anytime between the first quarter of 2020 and the fourth quarter of 2022. The Company is currently in the process of evaluating the impact of adoption of the new rules on the Company’s financial condition, results of operations, cash flows and disclosures. Other than the above, management does not believe that any of the recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s consolidated financial statements.
Going Concern	T. Going Concern The Company has suffered from losses from operation and significant accumulated deficits. It’s net loss for the year ended December 31, 2019 and 2018 were $33,276 and $5,607,041 respectively, and the accumulated losses as of December 31, 2019 and 2018 were $27,092,388 and $27,059,112, respectively. As of December 31, 2020 and 2019, the Company has cash and cash equivalents of $16 and $504, respectively and net cash used in operating activities during the year ended December 31, 2019 and 2018 were $286 and $283,480, respectively. The Company comes to have insufficient cash flows generated from operations and provided for development. In addition, the Company continues to experience negative cash flows from operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The management determines that additional effort will be required to improve the operation so that the Company may generate more profits to sustain its continuous. The Company may explore the channels to raise additional capital or any opportunities to improve the cash flow in the years to come. Subsequent to the year ended December 31, 2020, the Company had raised $1,050,000 (gross proceeds) and $1,780,000 (gross proceeds) as of April 23, 2021 and July 29, 2021, respectively, from share placement to improve the financial position and cash flow of the Company.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Schedule of consolidating subsidiaries	Name of Company Place of incorporation Attributable Registered EGOOS Mobile Technology Company Limited (“EGOOS BVI”) BVI 100 % $ 1 EGOOS Mobile Technology Company Limited (“EGOOS HK”) Hong Kong 100 % 1,290 Move the Purchase Consulting Management (Shenzhen) Co., Ltd. (“WOFE”) P.R.C 100 % - Guangzhou Yuzhi Information Technology Co., Ltd. (“GZYZ”) P.R.C 100 % 150,527 Shenzhen Qianhai Exce-card Technology Co., Ltd. (“SQEC”) P.R.C 100 % 150,527 Guangzhou Rongsheng Information Technology Co., Ltd. (“GZRS”) P.R.C 100 % 1,505,267
Schedule of estimated useful lives of plant and equipment	Computer equipment 3 years Office furniture 5 years Motor vehicle 5 years
Schedule of foreign currency translation exchange rates to assets and liabilities	Exchange rates December 31, December 31, Year-end/period-end RMB : US$ exchange rate 6.9762 6.8764 Average annual/period RMB : US$ exchange rate 6.8944 6.6146
Schedule of financial assets and liabilities at fair value	Quoted in Active (Level 1) Significant (Level 2) Significant (Level 3) Total Financial assets: Cash $ 16 $ - $ - $ 16 Total financial assets $ 16 $ - $ - $ 16 Quoted in Active (Level 1) Significant (Level 2) Significant (Level 3) Total Financial assets: Cash $ 504 $ - $ - $ 504 Total financial assets $ 504 $ - $ - $ 504

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	12 Months Ended
	Dec. 31, 2019
Cash and Cash Equivalents [Abstract]
Schedule of cash and cash equivalents	As of As of Cash on hand $ - $ - Cash in banks 16 504 Total cash $ 16 $ 504

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Schedule of property, plant and equipment	As of December 31, As of December 31, At Cost: Office equipment $ 18,320 $ 18,320 Office furniture 12,723 12,723 Total property and equipment 31,043 31,043 Less: accumulated depreciation (31,043 ) (30,459 ) Less: impairment - - Property, plant and equipment, net $ - $ 584

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible assets	As of December 31, As of December 31, At Cost: Patent $ - $ - Software 1,251 1,251 Total intangible assets 1,251 1,251 Less: accumulated amortization (1,251 ) (1,251 ) Less: impairment - - Intangible assets, net $ - $ -

Related Party Payable (Tables)

Related Party Payable (Tables)	12 Months Ended
	Dec. 31, 2019
Related Party Payable [Abstract]
Schedule of related party payable	December 31, December 31, Beijing Yuxin Shangfang Technology Co., Ltd. $ - $ 285,894 Hainan Xin Jing Yuan Co., Ltd. - 43,627 Xiang, Zuyue, director of SQEC and shareholder - 102,217 Xiang, Lingqing, employee of SQEC - 1,504 Lim, Jehn Ming, shareholder of EGOOS BVI - 1,289 Wang, Yue, director of EGOOS HK - 161,523 Yang, Mei, shareholder - 393,963 Li, Ping, director of WOFE - 4,023 Forgiveness of Related Party Payables $ - $ 994,040

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Schedule of related party payable	December 31, Beijing Yuxin Shangfang Technology Co., Ltd. $ 285,894 Hainan Xin Jing Yuan Co., Ltd. 43,627 Xiang, Zuyue, director of SQEC and shareholder 102,217 Xiang, Lingqing, employee of SQEC 1,504 Lim, Jehn Ming, shareholder of EGOOS BVI 1,289 Wang, Yue, director of EGOOS HK 161,523 Yang, Mei, shareholder 393,963 Li, Ping, director of WOFE 4,023 Forgiveness of Related Party Payables $ 994,040
Schedule of related party assets and liabilities	December 31, Other receivable $ 277 Prepaid taxes 6,422 Accounts payable (322,368 ) Other payable (51,806 ) Accrued expenses (46,751 ) Net liabilities undertaken by related party $ (414,226 )

Taxation (Tables)

Taxation (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of income tax expense	Year ended December 31, 2019 Year ended December 31, 2018 Current $ - $ - Deferred - - Total $ - $ -
Schedule of taxes payable	As of December 31, As of Corporate income tax payable $ - $ - Franchise tax payable 400 - Other surtaxes payable - - Total $ 400 $ -

Loss Per Share (Tables)

Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Schedule of reconciliation of basic and diluted earnings per share	For the years ended 2019 2018 Numerator: Net loss $ (33,276 ) $ (5,607,041 ) Denominator: Weighted average number of common stock outstanding - basic and diluted 21,027,713 21,027,713 Loss per share – Basic and diluted: $ (0.00158 ) $ (0.27 )

Organization and Principal Ac_2

Organization and Principal Activities (Details)

Feb. 04, 2016shares

Jul. 14, 2015USD ($)

Jul. 14, 2015CNY (¥)

Dec. 06, 2010$ / sharesshares

Oct. 19, 2015

Jul. 24, 2015USD ($)

Jul. 24, 2015CNY (¥)

Jan. 28, 2015USD ($)

Jan. 28, 2015CNY (¥)

Oct. 28, 2010

Dec. 31, 2019shares

Mar. 16, 2015CNY (¥)

Organization and Principal Activities (Details) [Line Items]

Equity method investment, description

the Company entered into a Share Purchase Agreement (the “Share Purchase Agreement”) with EGOOS Mobile Technology Company Limited, a British Virgin Islands holding company (“EGOOS BVI”), which owns 100% of EGOOS Mobile Technology Company Limited, a Hong Kong company (“EGOOS HK”), which owns 100% of Move the Purchase Consulting Management (Shenzhen) Co., Ltd. (“WOFE”), a foreign investment enterprise organized under the laws of the PRC, and which has, through various contractual agreements known as variable interest entity (“VIE”) agreements. These VIE agreements provide the WOFE management control and the rights to the profits of Guangzhou Yuzhi Information Technology Co., Ltd., a corporation organized under the laws of the PRC as a variable interest entity (“GZYZ”), which owns 100% of Shenzhen Qianhai Exce-card Technology Co., Ltd., a Chinese corporation (“SQEC”), which owns 100% of Guangzhou Rongsheng Information Technology Co., Ltd., a Chinese corporation (“GZRS”) and the sole shareholder of EGOOS BVI.

Business combination, consideration transferred description

(i) the Company had effectuated a reverse split of all of the issued and outstanding Common Stock as of the date of the issuance of the note (the “Reverse Split”) and (ii) the average closing price of the common stock for 3 business days within any period of 10 consecutive business days exceeded $1.00 per share (the “Conversion Conditions”). Upon conversion of the note, the existing shareholders of the Registrant would own an aggregate of 24.7% of the post-acquisition entity.

Ding Neng Holdings [Member]

Organization and Principal Activities (Details) [Line Items]

Acquired interest from investment holdings company

100.00%

Issuance of common stock for acquisition (in Shares)

26,162,505

Common stock par value (in Dollars per share) | $ / shares

$ 0.001

Litigation settlement fee

$ 1,610.50

¥ 10,000

Shenzhen Qianhai Exce-card Technology Co., Ltd. [Member]

Organization and Principal Activities (Details) [Line Items]

Business combination, consideration transferred

$ 1,629,062

¥ 10,000,000

$ 1,629,062

¥ 10,000,000

Xiang Zuyue [Member]

Organization and Principal Activities (Details) [Line Items]

Acquired interest from investment holdings company

40.00%

40.00%

Business combination, consideration transferred

$ 651,625

¥ 4,000,000

Guangzhou Rongsheng Information Technology Co., Ltd. [Member]

Organization and Principal Activities (Details) [Line Items]

Authorized capital | ¥

¥ 1,000,000

EGOOS Mobile Technology Company Limited [Member]

Organization and Principal Activities (Details) [Line Items]

Acquired interest from investment holdings company

100.00%

Note converted into share (in Shares)

15,000,000

15,000,000

Subsidiary of Common Parent [Member] | Ding Neng Holdings [Member]

Organization and Principal Activities (Details) [Line Items]

Entity agreements, description

On October 28, 2010, WFOE and Ding Neng Bio-tech entered into a set of variable interest entity agreements that included: (1) a Consulting Service Agreement with Ding Neng Bio-tech, which entitled WFOE toreceive substantially all of the economic benefits of Ding Neng Bio-tech in consideration for services provided by WFOE to DingNeng Bio-tech, (2) an Option Agreement with Xinfeng Nie, Sanfu Huang, and Shunlong Hu (the shareholders of Ding Neng Bio-tech) allowing the WFOE to acquire all the shares of Ding Neng Bio-tech as permitted by PRC laws, (3) a Voting Rights Proxy Agreement that provides WFOE with the all voting rights of the Ding Neng Bio-tech shareholders, and (4) an Equity Pledge Agreement that pledges the shares in Ding Neng Bio-tech to WFOE (VIE Agreements).

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	1 Months Ended		12 Months Ended
	Jul. 29, 2021	Apr. 23, 2021	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020
Accounting Policies [Abstract]
Financial statements, percentage			100.00%
The straight-line method with a salvage value			10.00%
Stock based compensation (in Shares)			0	1,113,217
Net loss			$ (33,276)	$ (5,607,041)
Accumulated losses			(27,092,388)	(27,059,112)
Cash and cash equivalents			504		$ 16
Net cash used In operating activities			$ (286)	$ (283,480)
Gross proceeds	$ 1,780,000	$ 1,050,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of consolidating subsidiaries	12 Months Ended
	Dec. 31, 2019USD ($)
EGOOS Mobile Technology Company Limited (“EGOOS BVI”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Name of Company	EGOOS Mobile Technology Company Limited (“EGOOS BVI”)
Place of Incorporation	BVI
Attributable equity interest %	100.00%
Registered capital	$ 1
EGOOS Mobile Technology Company Limited (“EGOOS HK”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Name of Company	EGOOS Mobile Technology Company Limited (“EGOOS HK”)
Place of Incorporation	Hong Kong
Attributable equity interest %	100.00%
Registered capital	$ 1,290
Move the Purchase Consulting Management (Shenzhen) Co., Ltd. (“WOFE”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Name of Company	Move the Purchase Consulting Management (Shenzhen) Co., Ltd. (“WOFE”)
Place of Incorporation	P.R.C
Attributable equity interest %	100.00%
Registered capital
Guangzhou Yuzhi Information Technology Co., Ltd. (“GZYZ”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Name of Company	Guangzhou Yuzhi Information Technology Co., Ltd. (“GZYZ”)
Place of Incorporation	P.R.C
Attributable equity interest %	100.00%
Registered capital	$ 150,527
Shenzhen Qianhai Exce-card Technology Co., Ltd. (“SQEC”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Name of Company	Shenzhen Qianhai Exce-card Technology Co., Ltd. (“SQEC”)
Place of Incorporation	P.R.C
Attributable equity interest %	100.00%
Registered capital	$ 150,527
Guangzhou Rongsheng Information Technology Co., Ltd. (“GZRS”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Name of Company	Guangzhou Rongsheng Information Technology Co., Ltd. (“GZRS”)
Place of Incorporation	P.R.C
Attributable equity interest %	100.00%
Registered capital	$ 1,505,267

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives of plant and equipment	12 Months Ended
	Dec. 31, 2019
Computer equipment [Member]
Public Utility, Property, Plant and Equipment [Line Items]
Estimated useful lives of plant and equipment	3 years
Office furniture [Member]
Public Utility, Property, Plant and Equipment [Line Items]
Estimated useful lives of plant and equipment	5 years
Motor vehicle [Member]
Public Utility, Property, Plant and Equipment [Line Items]
Estimated useful lives of plant and equipment	5 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details) - Schedule of foreign currency translation exchange rates to assets and liabilities	Dec. 31, 2019	Dec. 31, 2018
Year-end/period-end RMB : US$ exchange rate [Member]
Financial Statement Line Items with Differences in Reported Amount and Reporting Currency Denominated Amounts [Line Items]
Foreign currency translation, exchange rates	6.9762	6.8764
Average annual/period RMB : US$ exchange rate [Member]
Financial Statement Line Items with Differences in Reported Amount and Reporting Currency Denominated Amounts [Line Items]
Foreign currency translation, exchange rates	6.8944	6.6146

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details) - Schedule of financial assets and liabilities at fair value - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Financial assets:
Cash	$ 16	$ 504
Total financial assets	16	504
Quoted in Active Markets for Identical Assets (Level 1) [Member]
Financial assets:
Cash	16	504
Total financial assets	16	504
Significant Other Observable Inputs (Level 2) [Member]
Financial assets:
Cash
Total financial assets
Significant Unobservable Inputs (Level 3) [Member]
Financial assets:
Cash
Total financial assets

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details) - Schedule of cash and cash equivalents - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Schedule of cash and cash equivalents [Abstract]
Cash on hand
Cash in banks	16	504
Total cash	$ 16	$ 504

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 584	$ 7,081

Property, Plant and Equipment_4

Property, Plant and Equipment, Net (Details) - Schedule of property, plant and equipment - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 31,043	$ 31,043
Less: accumulated depreciation	(31,043)	(30,459)
Less: impairment
Property, plant and equipment, net		584
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	18,320	18,320
Office Furniture [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 12,723	$ 12,723

Intangible Assets, Net (Details

Intangible Assets, Net (Details)	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jul. 07, 2017USD ($)	Jul. 07, 2017CNY (¥)
Intangible Assets, Net (Details) [Line Items]
Amortization expenses	$ 0	$ 0
Mr. Zuyue Xiang [Member]
Intangible Assets, Net (Details) [Line Items]
Rights and ownership patent amount			$ 1,447,696	¥ 10,000,000

Intangible Assets, Net (Detai_2

Intangible Assets, Net (Details) - Schedule of Intangible assets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 1,251	$ 1,251
Less: accumulated amortization	(1,251)	(1,251)
Less: impairment
Intangible assets, net
Patent [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangible assets
Software [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 1,251	$ 1,251

Related Party Payable (Details)

Related Party Payable (Details) - Schedule of related party payable - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Related Party Payable (Details) - Schedule of related party payable [Line Items]
Forgiveness of Related Party Payables		$ 994,040
Beijing Yuxin Shangfang Technology Company Limited [Member]
Related Party Payable (Details) - Schedule of related party payable [Line Items]
Forgiveness of Related Party Payables		285,894
Hainan Xin Jing Yuan Co., Ltd. [Member]
Related Party Payable (Details) - Schedule of related party payable [Line Items]
Forgiveness of Related Party Payables		43,627
Xiang, Zuyue, director of SQEC and shareholder [Member]
Related Party Payable (Details) - Schedule of related party payable [Line Items]
Forgiveness of Related Party Payables		102,217
Xiang, Lingqing, employee of SQEC [Member]
Related Party Payable (Details) - Schedule of related party payable [Line Items]
Forgiveness of Related Party Payables		1,504
Lim, Jehn Ming, shareholder of EGOOS BVI [Member]
Related Party Payable (Details) - Schedule of related party payable [Line Items]
Forgiveness of Related Party Payables		1,289
Wang, Yue, director of EGOOS HK [Member]
Related Party Payable (Details) - Schedule of related party payable [Line Items]
Forgiveness of Related Party Payables		161,523
Yang, Mei, shareholder [Member]
Related Party Payable (Details) - Schedule of related party payable [Line Items]
Forgiveness of Related Party Payables		393,963
Li, Ping, director of WOFE [Member]
Related Party Payable (Details) - Schedule of related party payable [Line Items]
Forgiveness of Related Party Payables		$ 4,023

Related Party Transactions (Det

Related Party Transactions (Details)	Dec. 31, 2019USD ($)
Related Party Transactions [Abstract]
Related party payables	$ 994,040
Net liabilities undertaken	$ 414,226

Related Party Transactions (D_2

Related Party Transactions (Details) - Schedule of related party payable	Dec. 31, 2019USD ($)
Related Party Transaction [Line Items]
Forgiveness of Related Party Payables	$ 994,040
Beijing Yuxin Shangfang Technology Co., Ltd. [Member]
Related Party Transaction [Line Items]
Forgiveness of Related Party Payables	285,894
Hainan Xin Jing Yuan Co., Ltd. [Member]
Related Party Transaction [Line Items]
Forgiveness of Related Party Payables	43,627
Xiang, Zuyue, director of SQEC and shareholder [Member]
Related Party Transaction [Line Items]
Forgiveness of Related Party Payables	102,217
Xiang, Lingqing, employee of SQEC [Member]
Related Party Transaction [Line Items]
Forgiveness of Related Party Payables	1,504
Lim, Jehn Ming, shareholder of EGOOS BVI [Member]
Related Party Transaction [Line Items]
Forgiveness of Related Party Payables	1,289
Wang, Yue, director of EGOOS HK [Member]
Related Party Transaction [Line Items]
Forgiveness of Related Party Payables	161,523
Yang, Mei, shareholder [Member]
Related Party Transaction [Line Items]
Forgiveness of Related Party Payables	393,963
Li, Ping, director of WOFE [Member]
Related Party Transaction [Line Items]
Forgiveness of Related Party Payables	$ 4,023

Related Party Transactions (D_3

Related Party Transactions (Details) - Schedule of related party assets and liabilities	Dec. 31, 2019USD ($)
Schedule of related party assets and liabilities [Abstract]
Other receivable	$ 277
Prepaid taxes	6,422
Accounts payable	(322,368)
Other payable	(51,806)
Accrued expenses	(46,751)
Net liabilities undertaken by related party	$ (414,226)

Taxation (Details) - Schedule o

Taxation (Details) - Schedule of income tax expense - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Schedule of income tax expense [Abstract]
Current
Deferred
Total

Taxation (Details) - Schedule_2

Taxation (Details) - Schedule of taxes payable - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Schedule of taxes payable [Abstract]
Corporate income tax payable
Franchise tax payable	400
Other surtaxes payable
Total	$ 400

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - $ / shares	1 Months Ended
	Oct. 20, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Stockholders’ Equity (Details) [Line Items]
Common stock, shares authorized		100,000,000	100,000,000
Common stock, par value (in Dollars per share)		$ 0.001	$ 0.001
Common stock, shares issued		21,027,713	21,027,713
Option issued to purchase common stock			1,113,217	373,509
Tranches expire, date	Oct. 19, 2022
Risk free rate	0.00%
Forfeiture rate, percentage	2.03%
Exercise price (in Dollars per share)	$ 1
Annualized volatility	602.71%
Dividend yield	0.00%
Common stock, shares outstanding		21,027,713	21,027,713
October 19, 2018 [Member]
Stockholders’ Equity (Details) [Line Items]
Option vests, shares	350,000
October 19, 2019 [Member]
Stockholders’ Equity (Details) [Line Items]
Option vests, shares	350,000
October 19, 2020 [Member]
Stockholders’ Equity (Details) [Line Items]
Option vests, shares	350,000
Mr. Yang Liu [Member]
Stockholders’ Equity (Details) [Line Items]
Option issued to purchase common stock	1,050,000

Loss Per Share (Details) - Sche

Loss Per Share (Details) - Schedule of reconciliation of basic and diluted earnings per share - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Numerator:
Net loss	$ (33,276)	$ (5,607,041)
Denominator:
Weighted average number of common stock outstanding - basic and diluted	21,027,713	21,027,713
Loss per share – Basic and diluted:	$ (0.00158)	$ (0.27)

Going Concern Uncertainties (De

Going Concern Uncertainties (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficits	$ (27,092,388)	$ (27,059,112)
Working capital deficit	$ (32,390)	$ (1,407,762)

Concentration of Risk (Details)

Concentration of Risk (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Concentration of Risk (Details) [Line Items]
Total sales percentage	10.00%
Revenue percentage		100.00%
Total cost of sales or expenses	10.00%
Total accounts payable percentage	10.00%
United States [Member]
Concentration of Risk (Details) [Line Items]
Federal deposit insurance amount (in Dollars)	$ 100,000

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Jun. 04, 2021	Jul. 29, 2021	Jun. 19, 2021	May 28, 2021	Apr. 23, 2021	Mar. 31, 2021	Dec. 31, 2019	Dec. 31, 2018
Subsequent Events (Details) [Line Items]
Purchase agreement seller				$ 100,000			$ (202)	$ (35,167)
Consultancy fee			$ 1,500,000
Subsequent Event [Member]
Subsequent Events (Details) [Line Items]
Advisory fee						$ 12,500
Non-accountable expenses						5,000
Aggregate gross proceeds, description		the Company entered into subscription agreements with four accredited investors for the sale and issuance of seventeen million and eighty hundred thousand shares (17,800,000) shares of common stock at a per-share price of $0.10 for aggregate gross proceeds of $1,780,000 (the “Private Placement II”). . The Company closed the Private Placement II on July 30, 2021 and intends to use the funds for working capital. No brokers or placement agents was involved. Our Private Placement II is exempt from the registration requirements the Securities Act, in reliance on Section 4(a)(2) thereof and/or Rule 506 of Regulation D and Regulation S thereunder.
Joseph Stone Capital [Member] | Subsequent Event [Member]
Subsequent Events (Details) [Line Items]
Advisory fee						9,500
Escrow expense						3,000
Additional non-accountable expenses						$ 5,000
Forecast [Member] | Subsequent Event [Member]
Subsequent Events (Details) [Line Items]
Subscription agreements description					On April 23, 2021, the Company entered into subscription agreements with five accredited investors for the sale and issuance of 10,500,000 shares of common stock of the Company at a per-share price of $0.10 for aggregate gross proceeds of $1,050,000 (the “Private Placement I”).
Forecast [Member] | Archax SPA [Member]
Subsequent Events (Details) [Line Items]
Seller share transfer agreement	$ 500,000
Ownership percentage	1.74%
Forecast [Member] | Montis SPA [Member]
Subsequent Events (Details) [Line Items]
Ownership percentage	2.63%
Pro Forma [Member] | Montis SPA [Member]
Subsequent Events (Details) [Line Items]
Seller share transfer agreement	$ 250,000