Annual report pursuant to Section 13 and 15(d)

Summary of Related Parties Loans Held For Investment (Details)

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Summary of Related Parties Loans Held For Investment (Details) - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Total long-term term loans held-for-investment – related parties $ 20,500,000 [1]
ZASH Global Media And Entertainment Corporation [Member]    
Total long-term term loans held-for-investment – related parties [2] 15,000,000
Magnifi [Member]    
Total long-term term loans held-for-investment – related parties [3] 1,500,000
Wattum Management [Member]    
Total long-term term loans held-for-investment – related parties [4] $ 4,000,000
[1] The assets of the variable interest entities (the “VIEs”) can be used to settle obligations of the consolidated entities. Conversely, liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company’s general assets (Note 4).
[2] ZASH Global Media and Entertainment Corporation is a media and entertainment company involved in development consumer facing content.
[3] On October 12, 2021, the Company loaned $1,500,000 to Magnifi U. The interest rate on the note is 3% per annum. The maturity date of the loan is October 12, 2023. The purpose of the loan is to engage in the creation and distribution of digital media content.
[4] On October 14, 2021, the Company loaned $4,000,000 to Wattum Management, Inc. The interest rate on the note is 5% per annum. The maturity date of the loan is October 12, 2026. The purpose of the loan is to engage in the sale of crypto mining equipment.