XML 33 R2.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash and cash equivalents (Included $1,609 and $17,493 in the consolidated VIE that can be used only to settle obligations of the consolidated VIE as of December 31, 2022 and 2021, respectively.) $ 1,438,430 $ 2,597,848
Accounts receivable 2,826
Amount due from related parties 10,534 7,004
Inventories 46,277 375,535
Prepaid taxes (Included $1,741 and $1,357 in the consolidated VIE that can be used only to settle obligations of the consolidated VIE as of December 31, 2022 and 2021, respectively.) 339,367 636,218
Prepayments and deposits 191,100 295,517
Total Current Assets 2,028,534 3,912,122
OTHER ASSETS    
Property and equipment, net 142,149 215,799
Intangible assets, net 24,044 3,660
Operating right-of-use assets 81,133 237,718
Investment in marketable securities 16,687 89,001
Investment in non-marketable securities 1,500
Deferred offering costs 499,202 264,735
Total other assets 763,215 812,413
TOTAL ASSETS 2,791,749 4,724,535
CURRENT LIABILITIES    
Accounts payable 28,833 13,715
Accounts payable – related parties 25,611
Customer deposits 363,018 279,689
Operating lease liabilities 82,708 157,094
Other payables and accrued liabilities ($1,090 and $1,548 are included in the consolidated VIE that are without recourse to the credit of Agape ATP Corporation as of December 31, 2022 and 2021, respectively.) 713,277 858,355
Other payable – related parties 4,880
Income tax payable 10,968 3,988
Total Current Liabilities 1,229,295 1,312,841
NON-CURRENT LIABILITIES    
Operating lease liabilities 83,484
Deferred tax liabilities 15,574
Total Non-current Liabilities 99,058
TOTAL LIABILITIES 1,229,295 1,411,899
STOCKHOLDERS’ EQUITY    
Preferred stock, $0.0001 par value; 200,000,000 shares authorized; None issued and outstanding
Common Stock, par value $0.0001; 1,000,000,000 shares authorized, 75,452,012 and 290,460,047 shares issued and outstanding as of December 31, 2022 and 2021, respectively. 7,545 29,046
Additional paid in capital 6,470,716 6,449,215
Accumulated deficit (4,945,586) (3,258,687)
Accumulated other comprehensive income 9,266 93,398
TOTAL AGAPE CORPORATION STOCKHOLDERS’ EQUITY 1,541,941 3,312,972
NON-CONTROLLING INTERESTS 20,513 (336)
TOTAL EQUITY 1,562,454 3,312,636
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 2,791,749 $ 4,724,535