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Amount Due to Related Parties
9 Months Ended
Sep. 30, 2024
Amount Due to Related Parties [Abstract]  
AMOUNT DUE TO RELATED PARTIES

NOTE 10 – AMOUNT DUE TO RELATED PARTIES

 

   September 30,
2024
   December 31,
2023
 
         
Related parties payable  $282,533   $282,535 
Amount due to shareholders   300,055    606,137 
Director fee payable   896,000    804,000 
   $1,478,588   $1,692,672 

 

The related party balance of $282,533 represented advances from former shareholders for Company’s daily operation.

 

As of September 30, 2024, the amount due to shareholders of $300,055 represented advances and professional expenses paid on behalf by Shareholders, which consist of audit fees, lawyers’ fee and other professional expenses.

 

As of September 30, 2024, the director fee payable of $896,000 represented the accrual of director fees from the appointment date to September 30, 2024.

 

The amount due to related parties are interest free, unsecured and have no fixed of repayment period.