v3.23.1
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
 3 Months Ended 12 Months Ended
Mar. 31, 2023
Dec. 31, 2022
Payables and Accruals [Abstract]    
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

NOTE 8— ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

 

Accrued expenses and other current liabilities consist of the following:

 

   March 31, 2023  

December 31, 2022

 
Advance from customers  $525,782   $397,886 
Accrued payroll and employee benefits   89,054    89,359 
Accrued interest expenses   148,592    122,135 
           
Accrued underwriter fees (i)   1,200,000    - 
Other tax payables (ii)   -    261 
Other payable to a former shareholder (iii)   -    191,180 
Others (iv)   161,329    153,803 
Accrued expenses and other current liabilities  $2,124,757   $944,624 

 

(i)On March 18, 2023, the Company entered into a private placement consent agreement with Craft and Lafferty related to the private placement consummated on January 19, 2023 (see Note 10) on the fees of US$1.2 million, payable to Craft and Lafferty only on the completion of the underwriting offering.

 

(ii)Other tax payables are mainly value added tax payable.

 

(iii)Other payable to a former shareholder was paid in March 2023.

 

(iv)Others mainly represent accrued employee reimbursement payable and other accrued miscellaneous operating expenses.

 

NOTE 8— ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

 

Accrued expenses and other current liabilities consist of the following:

 

  

December 31,

2022

  

December 31,

2021

 
Advance from customers  $397,886   $59,111 
Accrued payroll and employee benefits   89,359    99,342 
Accrued interest expenses   122,135    20,795 
Other tax payables (i)  261    - 
Other payable to a former shareholder (ii)  191,180    - 
Others (iii)  153,803    131,159 
Accrued expenses and other current liabilities  $944,624   $310,407 

 

(i)Other tax payables are mainly value added tax payable.

 

(ii)Other payable to a former shareholder was paid in March, 2023.

 

(iii)Others mainly represent accrued employee reimbursement payable and other accrued miscellaneous operating expenses.