PROPERTY AND EQUIPMENT, NET

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

Note 6      PROPERTY AND EQUIPMENT, NET

As of March 31, 2023 and December 31, 2022, property and equipment consisted of the following: 

	March 31, 2023			December 31, 2022
	(Unaudited)			(Audited)
	$			$
Land		877,870			–
Equipment		912,839			903,867
Less: Accumulated depreciation		(104,265	)		(59,254	)
Property and equipment, net		1,686,444			844,613

On November 18, 2022, the Company paid US$20,000 for deposit to purchase 229 contiguous acres of land located in Montgomery County, Alabama to build RASs on that land for fish farming. On February 16, 2023, the Company paid US$857,870 and the land acquisition was completed.

Depreciation expenses for the three months ended March 31, 2023 and 2022 were $44,728 and $787, respectively.