Long-Term Loan

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Long-term Loan

NOTE 13 - Long-term Loan

The Company has a car loan credit line of NT$1,500,000 (approximately US$48,371), which matures on May 21, 2024, from a Taiwan financing company with annual interest rate of 9.7%. The installment payment plan is 60 months to pay off the balance on the 21^st of each month. Future installment payments as of December 31, 2021 are as follows: 

Year ending December 31,
2022	$	13,691
2023		13,691
2024		5,705
Total installment payments		33,087
Less: Imputed interest		(3,699	)
Present value of long-term loan		29,388
Current portion		(11,334	)
Non-current portion	$	18,054

Interest expense was $4,094 and $3,376 for the years ended December 31, 2021 and 2020, respectively.