| RELATED PARTY TRANSACTIONS |
NOTE
6 – RELATED PARTY TRANSACTIONS
Amounts
due from a related party are as follows:
SCHEDULE
OF RELATED PARTY TRANSACTIONS
| | |
Relationship | |
March 31, 2023 | | |
December 31, 2022 | | |
Note |
| | |
| |
| | |
| | |
|
| Mr. Zongyi Lian | |
President and CEO of the Company | |
$ | 1,080 | | |
$ | - | | |
Receivable from employee |
| Total | |
| |
$ | 1,080 | | |
$ | - | | |
|
Amounts
due to a related party are as follows:
| | |
Relationship | |
March 31, 2023 | | |
December 31, 2022 | | |
Note |
| Mr. Zongyi Lian | |
President and CEO of the Company | |
| - | | |
| 1,665 | | |
Payable to employee |
| Total | |
| |
$ | - | | |
$ | 1,665 | | |
|
|
NOTE
6 – RELATED PARTY TRANSACTIONS
The
related party transactions are summarized as follows:
SCHEDULE
OF REVENUES FROM RELATED PARTY TRANSACTIONS
| | |
2022 | | |
2021 | |
| | |
Years Ended December 31, | |
| | |
2022 | | |
2021 | |
| | |
US$ | | |
US$ | |
| Revenues resulting from related parties: | |
| | | |
| | |
| Sales to Chengdu Wetouch Technology Co., Ltd (“Chengdu Wetouch”) | |
| - | | |
| 10,483 | |
| Sales to Meishan Wetouch Electronics Technology Co., Ltd. (“Meishan Wetouch”) | |
| - | | |
| 87,367 | |
| Total revenue | |
$ | - | | |
$ | 97,850 | |
The
Company sells capacitive touchscreens to Chengdu Wetouch and Meishan Wetouch from time to time. There are no written agreements between
the Company and Meishan Wetouch. Mr. Guangde Cai, Chairman and director of the Company and our indirect majority shareholder, owns 94%
and 95% of Chengdu Wetouch and Meishan Wetouch, respectively.
Amounts
due to related parties are as follows:
SCHEDULE
OF RELATED PARTY TRANSACTIONS
| | |
Relationship | |
December 31, 2022 | | |
December 31, 2021 | | |
Note |
| Mr. Zongyi Lian | |
President and CEO of the Company | |
$ | 1,665 | | |
$ | 1,802 | | |
Payable to employee |
| Mr. Guangde Cai | |
Former Chairman of the Company | |
| - | | |
| 32,867 | | |
Payable to employee |
| Total | |
| |
$ | 1,665 | | |
$ | 34,669 | | |
|
|