Annual report pursuant to Section 13 and 15(d)

PREPAYMENTS & OTHER ASSETS

v3.23.1
PREPAYMENTS & OTHER ASSETS
12 Months Ended
Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
PREPAYMENTS & OTHER ASSETS PREPAYMENTS & OTHER ASSETS
Prepayments and other assets are comprised of prepayments paid to vendors to initiate orders and prepaid services and fees. The prepaid balances are summarized as follows:
As of December 31,
2022 2021
Vendor prepayments $ 2,459,389  $ 10,652,962 
Prepaid services and fees 1,346,430  587,505 
Others 38,769  7,799 
Total prepayments and other assets $ 3,844,588  $ 11,248,266