Other Receivables and Prepayments

12 Months Ended

Dec. 31, 2023

Other Receivables and Prepayments [Abstract]

OTHER RECEIVABLES AND PREPAYMENTS

6. OTHER RECEIVABLES AND PREPAYMENTS

Other receivables and prepayments as of December 31, 2023 and 2022 consisted of:

	December 31, 2023		December 31, 2022
Prepaid research and development expenses	$	185,633	$	305,178
Prepaid insurance		33,815		47,833
Prepaid service fee		46,303		148,346
Rental deposits		102,109		16,296
Prepaid rental expenses		15,683		-
Other receivables		22,275		204,752
Others		16,253		21,603
	$	422,071	$	744,008

During the year ended December 31, 2023, the Group considered certain other receivables and prepayments were not recoverable. Hence, the write-off of other receivables and prepayments of $62,369 was recorded in other operating expenses.