SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

SCHEDULE OF ESTIMATED USEFUL LIVES OF PROPERTY AND EQUIPMENT

Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets with no residual value. The estimated useful lives are as follows:

	Useful Life
Computer and office equipment	5-7 years
Furniture & fixtures	6-7 years
Leasehold improvements	Lease Term
Vehicle	5 years

SCHEDULE OF ESTIMATED USEFUL LIVES OF INTANGIBLE ASSETS, NET

Intangible assets, net, are stated at cost, less accumulated amortization. Amortization expense is recognized on the straight-line basis over the estimated useful lives of the assets as follows:

Classification	Useful Life
Computer software	5 years

SCHEDULE OF DIS-AGGREGATED INFORMATION OF REVENUES

Disaggregated information of revenues by products are as follows:

	For the years ended				For the six months ended
	December 31,				December 31,
	2020		2019		2019
			(Unaudited)
Survivor Select	$	149,897	$	-	$	-
Energized Mineral Concentrate		81,481		238,687		100,270
Ionized Cal-Mag		908,964		55,718		-
Omega Blend		495,567		137,752		68,927
BetaMaxx		156,550		191,246		67,789
Vege Fruit Fiber		1,755		-		-
Iron		133,389		-		-
Young Formula		653,631		117,453		-
Organic Youth Care Cleansing Bar		43,127		34,917		17,206
Mitogize		162,801		-		-
No. 1 MED		46,713		140,733		-
Energetique		253,396		174,808		175,170
Trim+		365,350		198,817		-
Total revenues	$	3,452,621	$	1,290,131	$	429,362

SCHEDULE OF FOREIGN CURRENCIES TRANSLATION EXCHANGE RATES

Translation of foreign currencies into US$1 have been made at the following exchange rates for the respective periods:

	As of
	December 31, 2020		December 31, 2019
Period-end MYR : US$1 exchange rate		4.02		4.09
Period-end HKD : US$1 exchange rate		7.75		7.79

AGAPE ATP CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Currency expressed in United States Dollars (“US$”), except for number of shares)

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D)

	For the years ended				For the six months ended
	December 31,				December 31,
	2020		2019		2019
Period-average MYR : US$1 exchange rate		4.20		4.14		4.16
Period-average HKD : US$1 exchange rate		7.76		7.84		7.83