Subsequent Events

9 Months Ended

Sep. 30, 2018

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 19 – SUBSEQUENT EVENTS

Acquisition of 60% interest in Gagfare Limited

On August 17, 2018, SEIL has entered into a Sale and Purchase Agreement (the “Agreement”) with the shareholder of Gagfare Limited (“Gagfare”), to acquire 60% ownership of Gagfare. SEIL will acquire 60% of Gagfare for US$3.6 million, which shall be satisfied by the allotment and issuance of 1,176,087 preferred shares of the Company at a price of $3.061 per share. Gagfare is an online platform enabling travelers to search flights directly with over 500 airlines globally, allowing them to get the best-value airfare for their desired flight and secure a confirmed, impartial best airfare on their desired flight instantly.

The acquisition has not yet been completed subject to certain conditions as stipulated in the Agreement, and the expiration date has been extended from October 18, 2018 to January 18, 2019 by mutual agreement of both parties.

Redemption of common shares of the Iliad Note

On November 8, 2018, the Company converted an aggregate of $27,811 and $47,189 outstanding principal and interest of the Iliad Note, respectively, into 36,621 shares of its common stock (see Note 11).