Focus Universal Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of estimated useful lives of property, plant and equipment


Fixed assets	Useful life
Furniture	5 years
Equipment	5 years
Warehouse	39 years
Improvement	5 years
Land	N/A

Schedule of Fair Value Assets And Liabilities Measured On Recurring Basis


	June 30, 2023 (unaudited)
	Fair Value						Carrying
	Level 1		Level 2		Level 3		Value
Assets
Marketable securities:
Stock	$	60,694	$	–	$	–	$	60,694
Total assets measured at fair value	$	60,694	$	–	$	–	$	60,694

	December 31, 2022
	Fair Value						Carrying
	Level 1		Level 2		Level 3		Value
Assets
Marketable securities:
Stock	$	105,470	$	–	$	–	$	105,470
Total assets measured at fair value	$	105,470	$	–	$	–	$	105,470

The carrying amount of the Company’s financial assets and liabilities, such as cash, accounts receivable, inventory, other receivables, prepaid expenses, deposit, accounts payable, treasury stock payable and accrued expenses, other current liabilities, customer deposit, approximate their fair value because of the short maturity of those instruments.

Transactions involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm’s-length transactions unless such representations can be substantiated.

However, it is not practical to determine the fair value of advances from stockholders, if any, due to their related party nature.

Schedule of anti dilutive shares

Schedule of anti dilutive shares
Six Months Ended June 30,	2023		2022
Stock options		457,934		367,787
Total		457,934		367,787

Schedule Of Intercompany Foreign Currency Balances


	Average Rate for the Six Months Ended June 30,
	2023 (Unaudited)		2022 (Unaudited)
China Yuan (RMB)	RMB	6.9243	RMB	6.4749
United States Dollar ($)	$	1.0000	$	1.0000