Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.24.3
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
Schedule of concentrations of credit and business risk
                               
    Three months ended September 30,
    2024   2023
    Amount   % of Total
Revenue
  Amount   % of Total
Revenue
Customer A   $ 37,981       51%     $ (*)       (*)  
Customer B     18,923       25%       24,051       33%  
Customer C     (*)       (*)       21,600       30%  
Customer D     (*)       (*)       12,500       17%  

_________________

  (*) Revenue had not exceeded 10% or more of the Company’s consolidated revenue of the Company.

 

For the nine months ended of September 30, 2024 and 2023, the Company’s revenue received from the following companies were set out as below:

 

    Nine months ended September 30,
    2024   2023
    Amount   % of Total
Revenue
  Amount   % of Total
Revenue
Customer E   $ 69,325       26%     $ (*)       (*)  
Customer F     51,761       20%       (*)       (*)  
Customer A     37,981       14%       (*)       (*)  
Customer G     (*)       (*)       41,786       17%  
Customer B     (*)       (*)       24,051       10%  

_________________

  (*) Revenue had not exceeded 10% or more of the Company’s consolidated revenue of the Company.

 

As of September 30, 2024 and December 31, 2023, the Company’s accounts receivable from the following companies were set out as below:

  

    September 30, 2024   December 31, 2023
    Amount   % of Total
Accounts
Receivable
  Amount   % of Total
Accounts
Receivable
Customer H   $ (*)     (*)   $ 70,000       43%  

_________________

  (*) Accounts receivable had not exceeded 10% or more of the Company’s consolidated accounts receivable of the Company.
Schedule of financial assets and liabilities measured at fair value
               
    September 30, 2024 (unaudited)
    Fair Value   Carrying
    Level 1   Level 2   Level 3   Value
Assets                
Marketable securities:                                
Stock   $ 27,043     $     $     $ 27,043  
Total assets measured at fair value   $ 27,043     $     $     $ 27,043  

 

                 
    December 31, 2023
    Fair Value   Carrying
    Level 1   Level 2   Level 3   Value
Assets                
Marketable securities:                                
Stock   $ 36,735     $     $     $ 36,735  
Total assets measured at fair value   $ 36,735     $     $     $ 36,735  
Schedule of anti-dilutive shares
       
Nine Months Ended September 30,   2024   2023
Stock options     626,374       497,092  
Schedule of exchange rates
       
   

Average Rate for the Nine Months Ended

September 30,

    2024   2023
    (Unaudited)   (Unaudited)
China Yuan (RMB)   RMB 7.1843     RMB 7.2942  
United States Dollar ($)   $ 1.0000     $ 1.0000  

 

    Exchange Rate at
    September 30, 2024   December 31, 2023
    (Unaudited)    
China Yuan (RMB)   RMB 7.0138     RMB 7.0698  
United States Dollar ($)   $ 1.0000     $ 1.0000