Form 10-Q - Quarterly report [Sections 13 or 15(d)]

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended March 31, 2023

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _________ to _________

Commission File Number 333-228681

EZAGOO LIMITED

(Exact name of registrant issuer as specified in its charter)

Nevada

30-1077936

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification No.)

Rm 205, 2/F, Building 17, Yard 1, Li Ze Road, Feng Tai District, Beijing 100073, China

(Address of principal executive offices, including zip code)

Registrant’s phone number, including area code (+86) 139 751 09168

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock		EZAGOO		OTC Markets

Securities registered pursuant to Section 12(g) of the Act: Common stock, par value $0.0001 per share

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes ☐ No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

Yes ☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

YES ☒ NO ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (section 232.405 of this chapter) during the preceding twelve months (or shorter period that the registrant was required to submit and post such files).

YES ☒ NO ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” or an “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☒
		Emerging growth company	☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☒

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

Class		Outstanding at July 17, 2023
Common Stock, $.0001 par value		119,956,826

TABLE OF CONTENTS

		Page

PART I	FINANCIAL INFORMATION	F-1

ITEM 1.	FINANCIAL STATEMENTS:	F-1
	Condensed Consolidated Balance Sheets as of March 31, 2023 (unaudited) and December 31, 2022	F-1
	Condensed Consolidated Statements of Operations and Comprehensive Loss for the three months ended March 31, 2023 and 2022 (unaudited)	F-2
	Condensed Consolidated Statement of Changes in Stockholders’ Deficit for the three months ended March 31, 2023 and 2022 (unaudited)	F-3
	Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2023 and 2022 (unaudited)	F-4
	Notes to the Condensed Consolidated Financial Statements	F-5
ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	2-4
ITEM 3.	QUANTITATIVE AND QUALITATIVED IS CLOSURES ABOUT MARKET RISK	5
ITEM 4.	CONTROLS AND PROCEDURES	5

PART II	OTHER INFORMATION	5

ITEM 1	LEGAL PROCEEDINGS	5
ITEM 2	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	5
ITEM 3	DEFAULTS UPON SENIOR SECURITIES	5
ITEM 4	MINE SAFETY DISCLOSURES	5
ITEM 5	OTHER INFORMATION	5
ITEM 6	EXHIBITS	5
	SIGNATURES	6

PART I – FINANCIAL INFORMATION

Item 1. Financial statements

EZAGOO LIMITED

CONDENSED CONSOLIDATED BALANCE SHEETS

AS OF MARCH 31, 2023 AND DECEMBER 31, 2022

(Currency expressed in United States Dollars (“US$”), except for number of shares)

	March 31, 2023			December 31, 2022
	As of
	March 31, 2023			December 31, 2022
	(Unaudited)			(Audited)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	463,586		$	454,980
Amount due from a related party		690			686
Deposits, prepayments and other receivables		9,805			43,066
Income tax receivables		2,073			3,859
Total current assets		476,154			502,591

NON-CURRENT ASSETS
Property and equipment, net		1,011			1,124
Operating right-of-use assets		138,859			181,520
Operating right-of-use assets, related party		39,994			-
Total non-current assets		179,864			182,644

TOTAL ASSETS	$	656,018		$	685,235

LIABILITIES AND STOCKHOLDERS’ DEFICIT
CURRENT LIABILITIES
Accounts payable	$	11,308		$	20,594
Accrual, other payables and deposits received		305,962			411,411
Amount due to a director		23,774			27,584
Amount due to the related parties		2,652,857			2,342,816
Deferred revenues		2,853			2,837
Operating lease liabilities, current portion		128,145			156,015
Operating lease liabilities, related party, current portion		27,317			-
Total current liabilities		3,152,216			2,961,257

NON-CURRENT LIABILITIES
Operating lease liabilities, related party, non-current portion		16,831			-

TOTAL LIABILITIES	$	3,169,047		$	2,961,257

STOCKHOLDERS’ DEFICIT
Preferred stocks, $0.0001 par value, 200,000,000 shares authorized, None issued and outstanding	$	-		$	-
Common stocks, $0.0001 par value, 600,000,000 shares authorized, 119,956,826 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively		11,996			11,996
Additional paid-in capital		1,494,979			1,467,490
Accumulated other comprehensive gain		63,536			76,280
Accumulated deficit		(4,083,540	)		(3,831,788	)
TOTAL STOCKHOLDERS’ DEFICIT		(2,513,029	)		(2,276,022	)

TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$	656,018		$	685,235

See accompanying notes to the unaudited condensed consolidated financial statements.

F-1

EZAGOO LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022

(Currency expressed in United States Dollars (“US$”), except for number of shares)

(Unaudited)

	2023			2022
	Three months ended March 31,
	2023			2022
REVENUES	$	76,236		$	249,736

COSTS AND EXPENSES
Cost of revenue - short video produce costs, related party		-			(5,652	)
Cost of revenue - rental and related costs		(25,628	)		(1,320	)
Cost of revenue - salaries and related expenses		(39,489	)		(60,765	)
Sales and marketing expenses		(19,980	)		(45,382	)
General and administrative expenses		(215,453	)		(317,212	)
TOTAL COSTS AND EXPENSES		(300,550	)		(430,331	)

OPERATING LOSS		(224,314	)		(180,595	)

OTHER INCOME (EXPENSES)
Other income		56			1,243
Other expenses		(5	)		(38	)
Imputed interest expenses		(27,489	)		(11,128	)
TOTAL OTHER EXPENSES		(27,438	)		(9,923	)

LOSS BEFORE INCOME TAX		(251,752	)		(190,518	)

INCOME TAX EXPENSES		-			-

NET LOSS	$	(251,752	)	$	(190,518	)

Other comprehensive loss
Foreign exchange adjustment loss		(12,744	)		(3,809	)
COMPREHENSIVE LOSS	$	(264,496	)	$	(194,327	)

Net loss per share - Basic and diluted	$	(0.00	)	$	(0.00	)

Weighted average number of common shares outstanding – Basic and diluted		119,956,826			119,956,826

See accompanying notes to the unaudited condensed consolidated financial statements.

F-2

EZAGOO LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022

(Currency expressed in United States Dollars (“US$”), except for number of shares)

(Unaudited)

For the three months ended March 31, 2023

	Number of shares		Amount		PAID-IN CAPITAL		COMPREHENSIVE LOSS			ACCUMULATED DEFICIT			STOCKHOLDERS’ DEFICT
	COMMON STOCKS				ADDITIONAL		ACCUMULATED OTHER						TOTAL
	Number of shares		Amount		PAID-IN CAPITAL		COMPREHENSIVE LOSS			ACCUMULATED DEFICIT			STOCKHOLDERS’ DEFICT
Balance as of January 1, 2023 (Audited)		119,956,826	$	11,996	$	1,467,490	$	76,280		$	(3,831,788	)	$	(2,276,022	)
Imputed interest expenses		-		-		27,489		-			-			27,489
Net loss		-		-		-		-			(251,752	)		(251,752	)
Other comprehensive loss		-		-		-		(12,744	)		-			(12,744	)
Balance as of March 31, 2023 (Unaudited)		119,956,826	$	11,996	$	1,494,979	$	63,536		$	(4,083,540	)	$	(2,513,029	)

For the three months ended March 31, 2022

	COMMON STOCKS				ADDITIONAL		ACCUMULATED OTHER						TOTAL
	Number of shares		Amount		PAID-IN CAPITAL		COMPREHENSIVE LOSS			ACCUMULATED DEFICIT			STOCKHOLDERS’ DEFICT
Balance as of January 1, 2022 (Audited)		119,956,826	$	11,996	$	1,384,907	$	(107,503	)	$	(2,578,180	)	$	(1,288,780	)
Imputed interest expenses		-		-		11,128		-			-			11,128
Net loss		-		-		-		-			(190,518	)		(190,518	)
Other comprehensive loss		-		-		-		(3,809	)		-			(3,809	)
Balance as of March 31, 2022 (Unaudited)		119,956,826	$	11,996	$	1,396,035	$	(111,312	)	$	(2,768,698	)	$	(1,471,979	)

See accompanying notes to the unaudited condensed consolidated financial statements.

F-3

EZAGOO LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022

(Currency expressed in United States Dollars (“US$”), except for number of shares)

(Unaudited)

	2023			2022
	Three months ended March 31,
	2023			2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(251,752	)	$	(190,518	)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation		2,507			2,702
Imputed interests, net		27,489			11,129

Changes in operating assets and liabilities:
Deposits, prepayments and other receivables		33,643			(61,048	)
Accounts payable		(9,443	)		(14,177	)
Accrual and other payables		(62,317	)		76,375
Receipts in advance		(45,681	)		-
Deferred revenues		-			(108,420	)
Income tax payable		1,803			-
Operating lease right-of-use assets		44,380			44,138
Operating lease right-of-use assets, related party		4,171			-
Operating lease liabilities		(30,488	)		(45,531	)
Net cash used in operating activities		(285,688	)		(285,350	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Funds advanced from the related parties		297,698			210,344
Repayment to a director		(3,933	)		-
Net cash provided by financing activities		293,765			210,344

Effect of exchange rate changes on cash and cash equivalents		529			201

Net change in cash and cash equivalents		8,606			(74,805	)
Cash and cash equivalents, beginning of period		454,980			559,119
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	463,586		$	484,314

SUPPLEMENTAL CASH FLOWS INFORMATION
Cash paid for income taxes	$	-		$	-
Cash paid for interest paid	$	-		$	-

NON-CASH INVESTING AND FINANCING ACTIVITY
Operating lease right-of-use asset obtained in exchange for operating lease obligation	$	43,693		$	-

See accompanying notes to the unaudited condensed consolidated financial statements.

F-4

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

NOTE 1 – ORGANIZATION AND BUSINESS BACKGROUND

Ezagoo Limited, a Nevada corporation (“the Company”) was incorporated under the laws of the State of Nevada on May 9, 2018.

On May 9, 2018 Tan Xiaohao was appointed as President, Secretary, Treasurer, and Director of the Company.

On May 9, 2018, our President, Tan Xiaohao, purchased 90,050,500 shares of restricted common stock at a purchase price of $0.0001 (par value) per share. The proceeds from the sale, which were in the amount of $9,005 have gone directly to the Company for initial working capital.

On June 30, 2018 Zhang Qianwen and Greenpro Asia Strategic SPC- Greenpro Asia Strategic Fund SP purchased 3,591,000 and 1,358,500 shares of restricted common stock respectively at a purchase price of $0.0001 (par value) per share. The proceeds from the sale, which were in the amount of $495, have gone directly to the Company for initial working capital.

On June 6, 2018 Ezagoo Holding Limited, a Seychelles Company, acquired Ezagoo Limited, A Hong Kong Company, in consideration of $0.13.

Ezagoo Limited, a Nevada Company, acquired Ezagoo Holding Limited, a Seychelles Company, on June 25, 2018 in consideration of $1. Ezagoo Holding Limited is now a wholly owned subsidiary of the Company.

On July 20, 2018, Ezagoo Limited, a Hong Kong Company, incorporated a new subsidiary in Changsha, China, called Changsha Ezagoo Technology Limited, whereas it is owned entirely (100%) by Ezagoo Limited, the Hong Kong Company. There was no consideration exchanged per the transaction.

The three companies above are under common control Mr. Tan Xiaohao, the director of the Company, so they are related parties.

On July 20, 2018, Changsha Ezagoo Technology Limited, the Hong Kong Company, also referred to herein as “CETL”, entered into and consummated an agreement with Beijing Ezagoo Shopping Holding Limited, also referred to herein as “BESH”, and Ruiyin (Shenzhen) Financial Leasing Limited, also referred to herein as “RFLL”, whereas CETL has the option to purchase all of the equity interests of Beijing Ezagoo Zhicheng Internet Technology Limited, a Chinese, “PRC” Company, from RFLL and BESH. These equity interests would make up 100% of the equity interests of Beijing Ezagoo Zhicheng Internet Technology Limited. Beijing Ezagoo Zhicheng Internet Technology Limited is considered to be a variable interest entity, also referred to herein as a “VIE”, to Changsha Ezagoo Technology Limited, and therefore a VIE of the issuer, Ezagoo Limited, a Nevada Company. More information regarding this agreement can be found in exhibit 10.1, titled, “Call Option Agreement”.

On July 20, 2018, CETL entered into and consummated an agreement with BESH and RFLL whereas BESH and RFLL have given CETL the right to appoint management of CETL to act as proxy to existing shareholders of Beijing Ezagoo Zhicheng Internet Technology Limited. This gives management of CETL the ability to conduct and control company affairs of Beijing Ezagoo Zhicheng Internet Technology Limited. Actions which management of CETL may be able to carry out include, but are not limited to, exercising voting rights as proxy of the existing shareholder(s), appointing new directors, hiring new management, and carrying out corporate actions. More information regarding this agreement can be found in exhibit 10.2, titled, “Shareholder’ Voting Rights Proxy Agreement.”

On July 20, 2018 CETL entered into and consummated an agreement with BESH and RFLL whereas BESH and RFLL have engaged CETL to provide management, financial, and other business services to Beijing Ezagoo Zhicheng Internet Technology Limited (formerly named as Hunan Ezagoo Zhicheng Internet Technology Limited that change the company name on December 2, 2020). CETL is to be compensated with 100% of all profits generated by Beijing Ezagoo Zhicheng Internet Technology Limited. This Agreement is effective as of July 20, 2018 and will continue in effect for a period of ten (10) years (the “Initial Term”), and for succeeding periods of the same duration (each, “Subsequent Term”), until terminated by one of the following means either during the Initial Term or thereafter: Mutual Consent, Termination by CETL, Breach or Insolvency. Beijing Ezagoo Zhicheng Internet Technology Limited is considered to be a variable interest entity to Changsha Ezagoo Technology Limited, and therefore a VIE of the issuer, Ezagoo Limited, a Nevada Company. More information regarding this agreement can be found in exhibit 10.3, titled, “Management Services Agreement.”

On July 20, 2018, CETL entered into and consummated an agreement with BESH and RFLL whereas BESH and RFLL have pledged their equity interests in Beijing Ezagoo Zhicheng Internet Technology Limited, to CETL. More information regarding this agreement can be found in exhibit 10.4, titled, “Equity Pledge Agreement.”

On July 20, 2018, CETL entered into a loan agreement with BESH and RFLL wherein CETL will loan the amount of approximately CNY$100,000 (Chinese Yuan) to BESH and RFLL, all of which shall be used for the benefit of Beijing Ezagoo Zhicheng Internet Technology Limited. The total amount of the loan is due on, or before, December 31, 2018. More information regarding this agreement can be found in exhibit 10.5, titled, “Loan Agreement.”

On July 31, 2018 Xin Yang was appointed Chief Financial Officer of the Company.

On March 3, 2021, the Company incorporated a branch company of Beijing Ezagoo Zhicheng Internet Technology Limited, named Changsha Branch of Beijing Ezagoo Industrial Development Group Holding Limited, the reason to continue the operating in Changsha is we had adapted to the business environment and adjusted business strategy.

EZAGOO LIMITED and its subsidiaries are hereinafter referred to as the “Company”.

F-5

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

NOTE 2 - GOING CONCERN UNCERTAINTIES

As of March 31, 2023, the Company suffered an accumulated deficit of $4,083,540 and incurred a net loss of $251,752 for three months ended March 31, 2023. The continuation of the Company as a going concern through March 31, 2023 is dependent upon improving the profitability and the continuing financial support from its stockholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due.

These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result in the Company not being able to continue as a going concern.

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accompanying unaudited condensed consolidated financial statements reflect the application of certain significant accounting policies as described in this note and elsewhere in the accompanying consolidated financial statements and notes.

● Basis of consolidated presentation

These condensed consolidated financial statements, accompanying notes, and related disclosures have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). These accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). The Company’s fiscal year end is December 31. The Company’s financial statements are presented in U.S. dollars.

The condensed consolidated financial statements include the accounts of EZAGOO LIMITED and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation.

● Use of estimates

In preparing these condensed consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheets and revenues and expenses during the periods reported. Actual results may differ from these estimates.

● Foreign currencies translation and re-measurement

Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statements of operations and comprehensive income.

The reporting currency of the Company is United States Dollars (“US$”) and the accompanying condensed financial statements have been expressed in US$. In addition, the Company’s subsidiary in People’s Republic of China maintains its books and record in its local currency, Chinese Yuan (“RMB”), which is functional currency as being the primary currency of the economic environment in which the entity operates.

In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiary are recorded as a separate component of accumulated other comprehensive income (loss) within the statements of stockholders’ deficit.

Translation of amounts from RMB into US$1 has been made at the following exchange rates for the respective periods:

	2023		2022
	As of and for the three months ended March 31,
	2023		2022
	(Unaudited)		(Unaudited)
Period-end RMB: US$1 exchange rate		6,87		6.34
Period-average RMB: US$1 exchange rate		6.84		6.35
Period-end HK$: US$1 exchange rate		7.75		7.83
Period-average HK$: US$1 exchange rate		7.84		7.80
Period-end and Period-average RMB and HK$: US$1 exchange rate		7.84		7.80

● Cash and cash equivalents

The company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. Cash and cash equivalents consist of cash on hand, demand deposits placed with banks that located in US, the Hong Kong and mainland China.

● Account receivables

Account receivables are stated at the customer obligations due under normal trade terms net of allowance for doubtful accounts.

F-6

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

● Property, plant and equipment

Property, plant and equipment are carried at cost less accumulated depreciation. Depreciation is provided over their estimated useful lives, using the straight-line method. Estimated useful lives of the property and equipment are as follows:

Office equipment

3-5 years

The cost of maintenance and repairs is charged to expenses as incurred, whereas significant renewals and betterments are capitalized.

● Lease

The Company accounts for its leases in accordance with ASC 842 Leases. The Company leases office space. The Company concludes on whether an arrangement is a lease at inception. This determination as to whether an arrangement contains a lease is based on an assessment as to whether a contract conveys the right to the Company to control the use of identified property, plant or equipment for period of time in exchange for consideration. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company recognizes these lease expenses on a straight-line basis over the lease term.

The Company has assessed its contracts and concluded that its leases consist of only operating leases. Operating leases are included in operating lease right-of-use (ROU) assets, current portion of operating lease liabilities, and operating lease liabilities in the Company’s consolidated balance sheets.

ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company determines an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company’s incremental borrowing rate is a hypothetical rate based on its understanding of what its credit rating would be. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

● Revenue recognition

The Company assesses and follows the guidance of ASC 606, revenue from contracts with customers is recognized using the following five steps:

Identify the contract(s) with a customer;

		a.	The parties to the contract have approved the contract (in writing, orally, or in accordance with other customary business practices) and are committed to perform their respective obligations.
		b.	The entity can identify each party’s rights regarding the services to be transferred.
		c.	The entity can identify the payment terms for the services to be transferred.
		d.	The contract has commercial substance (that is, the risk, timing, or amount of the entity’s future cash flows is expected to change as a result of the contract).
		e.	It is probable that the entity will collect substantially all of the consideration to which it will be entitled in exchange for the services that will be transferred to the customer.

Identify the performance obligations in the contract;

		a.	According to the contract, the Company and Customer has to maintain the performance obligation, respectively.
		b.	The customer shall pay for the services and goods after signing of the contract and provide appropriate advertisement materials, and the delivery address & contact information of the e-commerce order to the Company, the Company shall ensure the published advertisement and delivered goods of the Customer according to the contract terms.

Determine the transaction price;

		a.	For the advertisement and e-commerce contract, the transaction price is explicitly stated in fixed amount in the contract. There is no variable consideration, such as discounts, rebates, consideration payable to customer or noncash consideration. There was no price concession, and the Company did not expect any price concession for the service performed during the periods ended March 31, 2023 and 2022.
		b.	The contract does not contain any elements that would cause consideration under the arrangement to be variable (Examples include discounts, rebates, refunds, credits, incentives, tiered pricing, price guarantees, right of return, etc.).
		c.	There are no factors that exist whereby it is not probable that a significant reversal or revenues will not occur in the contract.

F-7

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

Allocate the transaction price to the performance obligations in the contract; and

There were no multiple performance obligations to which the transaction price must be allocated, and each contract only has one performance obligation. The standalone selling price is explicated stated in the contract.

Recognize revenue when (or as) the entity satisfies a performance obligation.

		a.	Per ASC 606, an entity shall recognize revenue when (or as) the entity satisfies a performance obligation by transferring a promised good or service (that is, an asset) to a customer. An asset is transferred when (or as) the customer obtains control of that asset.
		b.	Revenue is recognized when the advertising service is performed. According to the sample advertising and e-commerce contract, upon obtaining the signed contract and order from the Customer, the service and goods’ period would be started. Therefore, the revenue is recognized when the service and goods are completely provided and delivered at that point in time.

Under Topic 606, revenues are recognized when the promised services and goods have been confirmed and transferred to the consumers in amounts that reflect the consideration the customer expects to be entitled to in exchange for those services. The Company presents value added taxes (“VAT”) as reductions of revenues. The Company recognizes revenues net of value added taxes (“VAT”) and relevant charges.

During the period ended March 31, 2023, the Company’s revenue mainly from providing advertising services on the Xindian application that developed by the Company (“advertisement income”), providing e-commerce trading of goods and products on ZCZX WeChat Application that is subscribed from Weimob (微盟集团, HK02013) (“trading income”), and providing e-commerce value-added service in Xindian & LSM WeChat Application that is subscribed from Weimob (微盟集团, HK02013) (“commission income”).

● Cost of revenues

Cost of revenue includes costs of goods sold and sales commissions expenses of e-commerce trading in ZCZX, production costs of short video advertisement, the operating salaries for the staffs who running the Xindian application and LSM, and online cloud and database expenses for e-commerce storage use on Xindian, ZCZX and LSM.

● Imputed Interest

The Company owned director and related parties some loans which are unsecured, interest-free with no fixed payment term, for working capital purpose. Imputed interests were $27,489 and $11,128 for the periods ended March 31, 2023 and 2022, respectively.

● Value-added taxes

Revenue is recognized net of value-added taxes (“VAT”). The VAT is based on gross sales price and VAT rates applicable to the Company is 13% of e-commerce trading income and 6% of commission income for the periods ended March 31, 2023 and 2022. All of the VAT returns filed by the Company’s subsidiaries in the PRC, have been and remain subject to examination by the PRC tax authorities for five years from the date of filing. VAT payables are included in accrued liabilities.

● Income taxes

The Company followed the liability method of accounting for income taxes in accordance with ASC 740, Income Taxes, or ASC 740. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. The Company recorded a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rate is recognized in tax expense in the period that includes the enactment date of the change in tax rate.

The Company accounted for uncertainties in income taxes in accordance with ASC 740. Interest and penalties related to unrecognizable tax benefit recognized in accordance with ASC 740 are classified in the consolidated statements of comprehensive loss as income tax expense.

● Earnings per share

The Company computes earnings per share (“EPS”) in accordance with ASC Topic 260, “Earnings per share”. Basic EPS is measured as the income or loss available to common shareholders divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, options, and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Any potential common shares in 2022 and 2021 that have an anti-dilutive effect (i.e. those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.

● Commitments and contingencies

Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated.

F-8

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

● Related party transaction

A related party is generally defined as (i) any person that holds 10% or more of the Company’s securities and their immediate families, (ii) the Company’s management, (iii) someone that directly or indirectly controls, is controlled by or is under common control with the Company, or (iv) anyone who can significantly influence the financial and operating decisions of the Company. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties.

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.

● Recent accounting pronouncements

In March 2021, the FASB issued ASU 2021-03, “Intangibles — Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment,” which simplifies how an entity is required to test goodwill for impairment by eliminating step two from the goodwill impairment test. Step two of the goodwill impairment test measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with its carrying amount. The new guidance is effective prospectively but not applicable for us for the period ending March 31, 2023. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance as of March 30, 2021. An entity should not retroactively adopt the amendments in this update for interim financial statements already issued in the year of adoption. We are evaluating the effects, if any, of the adoption of this guidance on our financial position, results of operations and cash flows.

In June 2022, the FASB issued ASU No. 2022-03, Fair Value Measurement. The new guidance modifies disclosure requirements related to fair value measurement. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. Implementation on a prospective or retrospective basis varies by specific disclosure requirement. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance.

The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

NOTE 4 - PROPERTY AND EQUIPMENT

	March 31, 2023			December 31, 2022
	As of
	March 31, 2023			December 31, 2022
	(Unaudited)			(Audited)
Office equipment	$	42,332		$	42,332
Less: Accumulated depreciation		(43,715	)		(41,208	)
Add: Foreign currency translation adjustment	$	2,394		$	-
Property and equipment, net	$	1,011		$	1,124

Depreciation expense, classified as operating expenses, was $2,507 and $2,702 for the three months ended March 31, 2023 and 2022, respectively.

Accumulated depreciation as of March 31, 2023 and December 31, 2022 were $43,715 and $41,208, respectively.

NOTE 5 - AMOUNT DUE FROM A RELATED PARTY

As of March 31, 2023, and December 31, 2022, the amount of $690 and $686 due from the related party Q, Grand Progressive Holdings Limited, respectively. The related party Q is 100% owns by GP Brightlight Foundation (which is 100% owns by Mr. Xiaohao Tan), and it’s also a shareholder of the Company. The balance due had been repaid and settled by them in May 2023.

NOTE 6 - DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES

Deposits, prepayments and other receivables consisted of the following:

	March 31, 2023		December 31, 2022
	As of
	March 31, 2023		December 31, 2022
	(Unaudited)		(Audited)
Deposits, prepayments and other receivables	$	9,805	$	43,066
Total deposits, prepayments and other receivables	$	9,805	$	43,066

As of March 31, 2023, the balance $9,805 represented an outstanding prepayment which included rent deposits and related costs. As of December 31, 2022, the balance $43,066 represented an outstanding prepayment which included rent prepayment, and related costs.

F-9

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

NOTE 7 - ACCOUNTS PAYABLE

Accounts payable consists of the following:

SCHEDULE OF ACCOUNT PAYABLE

	March 31, 2023		December 31, 2022
	As of
	March 31, 2023		December 31, 2022
	(Unaudited)		(Audited)
Accounts payable	$	11,308	$	20,594
Total accounts payable	$	11,308	$	20,594

As of March 31, 2023 and December 31, 2022, our accounts payable of $11,308 and $20,594 were ZCZX’s e-commence costs payables to vendors in 2023 and 2022, respectively.

NOTE 8 – ACCRUED EXPENSES, OTHER PAYABLE AND DEPOSITS RECEIVED

Accrued expenses, other payable and deposits received consisted of the following:

	March 31, 2023		December 31, 2022
	As of
	March 31, 2023		December 31, 2022
	(Unaudited)		(Audited)
Accrued expenses	$	25,573	$	32,424
Other payable		223,595		277,283
Deposits received from customers		56,794		101,704
Total	$	305,962	$	411,411

Accrued expenses include the quarterly review fee & other accrued expenses. Other payable include the rent payables, and salaries payables. Deposits received from customers are advertisement service and e-commerce trading fee paid in advance by customers.

NOTE 9 - DEFERRED REVENUES

As of March 31, 2023, and December 31, 2022, our deferred revenues are $2,853 and $2,837, respectively. These deferred revenues were expected to be recognized as revenue during the year 2023.

NOTE 10 - DUE TO DIRECTOR

As of March 31, 2023, and December 31, 2022, a director of the Company advanced $23,774 and $27,584 to the Company, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

NOTE 11 - DUE TO RELATED PARTIES

SCHEDULE OF DUE TO RELATED PARTIES

	March 31, 2023		December 31, 2022
	As of
	March 31, 2023		December 31, 2022
	(Unaudited)		(Audited)
Amount due to related party B	$	216,780	$	215,520
Amount due to related party C		23,467		23,330
Amount due to related party D		538,698		242,630
Amount due to related party E		126,084		124,850
Amount due to related party G		263,843		262,309
Amount due to related party H		7,530		7,486
Amount due to related party I		2,912		2,461
Amount due to related party J		778,291		772,898
Amount due to related party K		39,308		39,079
Amount due to related party L		20,893		20,893
Amount due to related party M		347,066		345,049
Amount due to related party N		136,112		135,321
Amount due to related party O		119,379		118,684
Amount due to related party P		32,494		32,306
Total	$	2,652,857	$	2,342,816

Related party B is Changsha Boyi Zhicheng Management Consulting Co., Ltd. (former named: Hunan Ezagoo Shopping Co. Ltd.), Hunan Homestead Asset Management Co., Ltd. is a shareholder of Changsha Boyi Zhicheng Management Consulting Co., Ltd. (former named: Hunan Ezagoo Shopping Co. Ltd.), which is 100% owned by Chengfu Tan, who is Xiaohao Tan’s father. As of March 31, 2023 and December 31, 2022, related party B advanced $216,780 and $215,520 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party C is Ms. Weihong Wan, Assistant and Secretary of Mr. Xiaohao Tan. Ms. Weihong Wan is a shareholder and Legal Company Representative of Ruiyin (Shenzhen) Financial Leasing Limited. As of March 31, 2023 and December 31, 2022, related party C advanced $23,467 and $23,330 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

F-10

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

Related party D is Ms. Qianwen Zhang, the wife of Mr. Xiaohao Tan. Ms. Qianwen Zhang is also the Legal Company Representative of related party G, Kuaile Motors Camping Site Investment Development Limited. As of March 31, 2023 and December 31, 2022, related party D advanced $538,698 and $242,630 to the Company as working capital, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party E is Changsha Kexibeier E-commerce Limited, Mr. Cheng Zhang is the Legal Company Representative of the Changsha Kexibeier E-commerce Limited and BEZL. As of March 31, 2023 and December 31, 2022, related party E advanced $126,084 and $124,850 to the Company as working capital, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party G is Kuaile Motors Camping Site Investment Development Limited. Mr. Xiaohao Tan and his wife, Ms Qianwen Zhang owns equity of 92% and 8%, respectively. As of March 31, 2023 and December 31, 2022, related party G advanced $263,843 and $262,309 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party H is Hunan Yijiaren Hotel Limited, it’s owns 90% and 10% by related party J, Beijing Ezagoo Industrial Development Group Holding Limited and Ms. Qianwen Zhang, the wife of Mr. Xiaohao Tan, respectively. As of March 31, 2023 and December 31, 2022, related party H advanced $7,530 and $7,486 to the Company as working capital, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party I is Hunan Bright Lionrock Mountain Resort Limited. It’s owns by related party J, Beijing Ezagoo Industrial Development Group Holding Limited, and related party G, Hunan Kuaile Motors Camping Site Investment Development Ltd. with equity of 80% and 20%, respectively. As of March 31, 2023 and December 31, 2022, the Company had rental expenses of $2,912 and $2,461 that due to related party I, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party J is Beijing Ezagoo Industrial Development Group Holding Limited. Its two main equity owners are related party N, Hunan Wancheng Xingyi Industrial Development Co., Ltd and Mr. Xiaohao Tan with equity of 71.85% and 21.42%, respectively. As of March 31, 2023 and December 31, 2022, related party J advanced $778,291 and $772,898 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party K is Ruiyin (Shenzhen) Financial Leasing Limited. Weihong Wan, Assistant and Secretary of Xiaohao Tan, is a Legal Company Representative of related party K. As of March 31, 2023 and December 31, 2022, related party K advanced $39,308 and $39,079 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party L is Ezagoo B&R (HongKong) Industry Development Group Limited, which is 100% owns by Mr. Xiaohao Tan. As of March 31, 2023 and December 31, 2022, related party L advanced $20,893 and $20,893 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party M is Hunan Ezagoo Film Co., Limited, which 85% of its equity is owns by Mr. Xiaohao Tan. As of March 31, 2023 and December 31, 2022, the Company has $347,066 and $345,049 advertising production cost payable to related party M, which is unsecured, interest-free with no fixed payment term.

Related party N is Hunan Wancheng Xingyi Industrial Development Co., Limited, which is 100% owns by Mr. Xiaohao Tan. As of March 31, 2023 and December 31, 2022, related party N advanced $136,112 and $135,321 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party O is Hunan Little Penguin Culture Communication Co., Limited, which 95% and 5% of its equity is owns by related party J, Beijing Ezagoo Industrial Development Group Holding Limited and Mr. Xiaohao Tan, respectively. As of March 31, 2023 and December 31, 2022, related party N advanced $119,379 and $118,684 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

Related party P is Hunan Yuancheng Shengwang Marketing Co., Limited, which 82% of its equity is owns by related party J, Beijing Ezagoo Industrial Development Group Holding Limited. As of March 31, 2023 and December 31, 2022, related party P advanced $32,494 and $32,306 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose.

F-11

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

		1			2
Disclosure of related parties’ transactions	Three months ended March 31,
	2023			2022
	(Unaudited)			(Unaudited)
Cost of revenue, related parties	$	-		$	5,652

Rent expenses, related parties	$	7,050		$	-

Imputed interest expenses to director	$	297		$	267
Imputed interest expenses to related parties		27,199			14,299
Imputed interest income from related parties		(7	)		(3,438	)
Total imputed interest expenses, net	$	27,489		$	11,128

NOTE 12 - OPERATING LEASE

The Company has four operating lease agreement for the office space, the first one is in Beijing China with remaining lease term of 0.67 years, the second is in Changsha, Hunan China with remaining lease term of 0.33 years, the third is in Beijing China with remaining lease term of 0.75 years, and the forth is in Changsha, Hunan China with remaining lease term of 1.75 years. A lease with an initial term of 12 months or less are not recorded on the balance sheet. The Company accounts for the lease and non-lease components of its leases as a single lease component. Lease expense is recognized on a straight-line basis over the lease term.

The details lease terms are shown as followings:

SCHEDULE OF DETAILS OF LEASE TERM

Lease agreement	Expiry Date	Original Lease Term	The Remaining Lease Term
1^stBeijing office rent	Dec 9, 2023	2.67 years	0.67 years
2^ndChangsha office rent, related party	Aug 1, 2023	1 year	0.33 years
3^rdBeijing office rent, related party	Dec 31, 2023	1 year	0.75 years
4^th Changsha office rent, related party	Dec 31, 2024	2 years	1.75 years

Operating lease right-of-use (“ROU”) assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Generally, the implicit rate of interest in arrangements is not readily determinable and the Company utilizes its incremental borrowing rate in determining the present value of lease payments. The Company’s incremental borrowing rate is a hypothetical rate based on its understanding of what its credit rating would be. The operating lease ROU asset includes any lease payments made and excludes lease incentives.

This standard did not have a significant impact on our liquidity or on our compliance with our financial covenants associated with our loans.

The components of lease expense and supplemental cash flow information related to leases for the period are as follows:

(a) Rent expenses, non-related party

For the three months ended March 31, 2023 and 2022, the Company has incurred non-related party’s rent expenses solely for the office premises on a monthly basis as follows:

	2023			2022
	Three months ended March 31,
	2023			2022
	(Unaudited)			(Unaudited)
Lease Cost, non-related party
Operating lease cost (included in general and administration in the Company’s unaudited condensed statement of operations)	$	44,380		$	47,833

Other Information, non-related party
Cash paid for amounts included in the measurement of lease liabilities	$	30,448		$	49,226
Weighted average remaining lease term – operating leases (in years)		0.67			1.67
Average discount rate – operating leases		4.35	%		4.35	%

F-12

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

The supplemental balance sheet information related to non-related party’s leases as of March 31, 2023 and December 31, 2022 is as follows:


	As of
	March 31, 2023		December 31, 2022
	(Unaudited)		(Audited)
Operating leases, non-related party
Operating right-of-use assets, non-related party	$	138,859	$	181,520
Total operating right-of-use assets, non-related party	$	138,859	$	181,520

Operating lease liabilities- current portion, non-related party	$	128,145	$	156,015
Total operating lease liabilities, non-related party	$	128,145	$	156,015

Maturities of the Company’s lease liabilities of non-related party are as follows:


Period ending March 31,
2023 (non-related party)	$	129,913
2024 (non-related party)		-
Total lease payments (non-related party)		129,913
Less: Imputed interest/present value discount		(1,758	)
Present value of lease liabilities (non-related party)	$	128,145

(b) Rent expenses, related party

For the three months ended March 31, 2023 and 2022, the Company has incurred related party’s rent expenses solely for the office premises on a monthly basis as follows:

	2023			2022
	Three months ended March 31,
	2023			2022
	(Unaudited)			(Unaudited)
Lease Cost, related party
Operating lease cost (included in general and administration in the Company’s unaudited condensed statement of operations)	$	4,171		$	-

Other Information, related party
Cash paid for amounts included in the measurement of lease liabilities	$	-		$	-
Weighted average remaining lease term – operating leases (in years)		1.75			-
Average discount rate – operating leases		4.35	%		-

The supplemental balance sheet information related to related party’s leases as of March 31, 2023 and December 31, 2022 is as follows:


	As of
	March 31, 2023		December 31, 2022
	(Unaudited)		(Audited)
Operating leases, related party
Operating right-of-use assets, related party	$	39,994	$	-
Total operating right-of-use assets, related party	$	39,994	$	-

Operating lease liabilities, related party - current portion	$	27,317	$	-
Operating lease liabilities, related party – non-current portion		16,831
Total operating lease liabilities, related party	$	44,148	$	-

Maturities of the Company’s lease liabilities of related party are as follows:

Period ending March 31,
2023 (related party)	$	28,562
2024 (related party)		17,137
Total lease payments (related party)		45,699
Less: Imputed interest/present value discount		(1,551	)
Present value of lease liabilities (related party)	$	44,148

Lease expenses of non-related party were $44,380 and $47,833 for the three months ended March 31, 2023 and 2022, respectively. Lease expenses of related party were $4,171 and $0 for the three months ended March 31, 2023 and 2022, respectively.

NOTE 13 – COMMON STOCK

As of March 31, 2023 and December 31, 2022, the Company has 119,956,826 shares issued and outstanding. There are no shares of preferred stock issued and outstanding.

NOTE 14 – ADDITIONAL PAID-IN CAPITAL

As of March 31, 2023 and December 31, 2022, the Company has a total additional paid-in capital - capital contribution balance of $1,494,979 and $1,467,490 respectively.

NOTE 15 – SUBSEQUENT EVENTS

As of March 31, 2023, the Company advanced a total amount of $690 to a related party. They had repaid and settled the amount of $690 at May 2023.

In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before consolidated financial statements are issued, the Company has evaluated all events or transactions that occurred up to July 18, 2023, the date the consolidated financial statements were available to issue. Based upon this evaluation, the Company did not identify any subsequent events that would have required adjustment or disclosure in the consolidated financial statements other than the above.

F-13

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The information contained in this quarter report on Form 10-Q is intended to update the information contained in our Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission on June 7, 2023 (the “Form 10-K”) and presumes that readers have access to, and will have read, the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and other information contained in such Form 10-K. The following discussion and analysis also should be read together with our consolidated financial statements and the notes to the consolidated financial statements included elsewhere in this Form 10-Q.

The following discussion contains certain statements that may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements appear in a number of places in this Report, including, without limitation, “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” These statements are not guaranteed of future performance and involve risks, uncertainties and requirements that are difficult to predict or are beyond our control. Forward-looking statements speak only as of the date of this quarterly report. You should not put undue reliance on any forward-looking statements. We strongly encourage investors to carefully read the factors described in our Form 10-K in the section entitled “Risk Factors” for a description of certain risks that could, among other things, cause actual results to differ from these forward-looking statements. We assume no responsibility to update the forward-looking statements contained in this quarterly report on Form 10-Q. The following should also be read in conjunction with the unaudited Financial Statements and notes thereto that appear elsewhere in this report.

Company Overview

Ezagoo Limited (“the Company” or “EZAGOO”), was incorporated in the State of Nevada on May 9, 2018. During the periods ended March 31, 2023, the Company conducted its business in generally three revenue streams: advertising income of mobile short video in Xindian, the trading income of e-commerce business in ZCZX, and the commission income from e-commerce business & other value-added services in Xindian & LSM.

Results of Operation

For the three months ended March 31, 2023 compared with the three months ended March 31, 2022

Revenue

	Three months ended March 31,
	2023		2022
	(Unaudited)		(Unaudited)
REVENUES	$		$
Advertisement income of mobile short video		-		249,736
Trading income of e-commerce business		27,562		-
Commission income
-Commission income of e-commerce business		48,674		-
TOTAL REVENUES	$	76,236	$	249,736

For three months ended March 31, 2023 and 2022, the Company generated revenue of $76,236, as compared to revenue of $249,736 for the three months ended March 31, 2022. The decrease in advertisement income is the Company suffered from the Covid-19, and we met the bottleneck when we transformed the traditional bus advertising to our Xindian platform since January 1, 2022. We’re planning to expand our brand to attract more potential users and customers, and we have generated commission income of e-commerce business (Customers or Users could sell products in Xindian, and LSM like Amazon, TaoBao. JD, Pinduoduo) since June 2022, and generated trading income of e-commerce business in ZCZX since September 2022.

Costs and Expenses

Cost of revenues is comprised of short video produce costs, costs of goods sold and sales commission, salaries and related costs.

●

Short video produce costs of $0 and $5,652 for the three months ended March 31, 2023 and 2022, respectively, which are outsourcing to the related party.

●

Costs of goods sold and sales commission expenses of $25,628 for the three months ended March 31, 2023 which for the e-commerce trading of health and beauty products in ZCZX WeChat application.

Bus rental fee and related costs of $1,320 for the three months ended March 31, 2022, which for surcharges expenses.

●

Salaries and related costs of $39,489 and $60,765 for the three months ended March 31, 2023 and 2022, respectively, which are the compensation expenses for technical employees responsible for R&D, and depreciation of computer related to our existing Xindian platform, software’s and online database expenses related to ZCZX and LSM WeChat applications.

Operating Expenses

Operating expenses are generally included during our normal course of business, which we categorize as either sales and marketing expenses and general & administrative expenses.

●

The main components of our sales and marketing expenses of $19,980 and $45,382 for the three months ended March 31, 2023 and 2022, respectively, are:

	a.	Compensation expenses for employees engaged in sales and marketing, sales support, and certain customer service functions;
	b.	Spending related to our advertising and promotional activities in support of our services and Xindian platform.

●

The main components of our general and administrative expenses of $215,453 and $317,212 for the three months ended March 31, 2023 and 2022, respectively, are:

	a.	Compensation expenses for employees in finance, human resources, and other administrative support functions;
	b.	Professional services fees, including audit, consulting.
	c.	Office expenses, including rent and rate, insurance.

Net Income (Loss)

The net loss was $251,752 for the three months ended March 31, 2023, as compared to net loss of $190,518 for the three months ended March 31, 2022. The increase of net loss mainly derived from the decrease in the advertisement income and increase in administrative expenses.

Liquidity and Capital Resources

As of March 31, 2023, we had working capital deficit of $2,676,062 as compared to working capital deficit of $2,458,666 as of March 31, 2022. The increase in working capital deficit was reflected in the advanced from related parties for operating use. The Company’s net loss of $251,752 and $190,518 for the three months ended March 31, 2023 and 2022, respectively.

Cash Flow from Operating Activities

For the three months ended March 31, 2023, net cash used in operating activities was $285,688, compared to net cash used in operating activities of $285,350 for the three months ended March 31, 2022, reflecting an increase of $338. Such increasing was mainly reflected in significant less revenue in 2023 of $76,236 as compared to revenue in 2022 of $249,736.

Cash Flow from Investing Activities

For the three months ended March 31, 2023 and 2022, net cash used in investing activities was $0 and $0, respectively.

Cash Flow from Financing Activities

For the three months ended March 31, 2023, net cash provided by financing activities was $293,765, as compared to net cash provided by financial activities of $210,344, reflecting an increase of $83,421. Such increase was mainly reflected in the more funds advances from the related parties for operating use during the periods ended March 31, 2023.

Credit Facilities

We do not have any credit facilities or other access to bank credit.

Contractual Obligations, Commitments and Contingencies

We currently have three lease agreement in place with respect to office premises in Beijing and Changsha China to commence our business operations.

Off-balance Sheet Arrangements

As of March 31, 2023, we have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to our stockholders.

Additional Information

VIE STRUCTURE AND ARRANGEMENTS

Foreign ownership in companies providing media advertising services is subject to certain restrictions under PRC laws and regulations. To comply with the PRC laws and regulations, we, through our wholly-owned subsidiary, Changsha Ezagoo Technology Limited (CETL), entered into a set of contractual arrangements with Beijing Ezagoo Zhicheng Internet Technology Limited (BEZL) and includes its branch company, named Changsha Branch of Beijing Ezagoo Industrial Development Group Holding Limited (BELCB), and its shareholders. The contractual arrangements between CETL, BEZL and shareholders of BEZL allow us to:

1.	exercise effective control over BEZL and BELCB whereby having the power to direct BEZL and BELCB’s activities that most significantly drive the economic results of BEZL and BELCB;

2.	receive substantially all of the economic benefits and residual returns, and absorb substantially all the risks and expected losses from BEZL and BELCB as if it was their sole shareholder; and

3.	have an exclusive option to purchase all of the equity interests in BEZL and BELCB.

Our consolidated financial statements include the financial statements of our company, our subsidiaries and our consolidated VIE for which we are the primary beneficiary. All transactions and balances among our company, our subsidiaries and our consolidated VIE have been eliminated upon consolidation.

A subsidiary is an entity in which we, directly or indirectly, control more than one half of the voting powers; or has the power to appoint or remove the majority of the members of the board of directors; or to cast a majority of votes at the meeting of directors; or has the power to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders.

A consolidated VIE is an entity in which we, or our subsidiaries, through contractual agreements, bears the risks of, and enjoys the rewards normally associated with ownership of the entity. In determining whether we or our subsidiaries are the primary beneficiary, we considered whether it has the power to direct activities that are significant to the consolidated VIE’s economic performance, and also our obligation to absorb losses of the consolidated VIE that could potentially be significant to the consolidated VIE or the right to receive benefits from the consolidated VIE that could potentially be significant to the consolidated VIE. We hold all the variable interests of the consolidated VIE and its subsidiaries, and has been determined to be the primary beneficiary of the consolidated VIE.

In accordance with the contractual agreements among between CETL, BEZL, BELCB and shareholders of BEZL and BELCB allow us to:

1.	exercise effective control over BEZL and BELCB whereby having the power to direct BEZL and BELCB’s activities that most significantly drive the economic results of BEZL;

2.	receive substantially all of the economic benefits and residual returns, and absorb substantially all the risks and expected losses from BEZL and BELCB as if it was their sole shareholder;

3.	and have an exclusive option to purchase all of the equity interests in BEZL and BELCB.

We believe that the contractual arrangements among CETL, BEZL, BELCB and the shareholders of BEZL are in compliance with PRC law and are legally enforceable. However, uncertainties in the PRC legal system could limit our ability to enforce these contractual arrangements and if the shareholders of our consolidated VIE were to reduce their interest in us, their interests may diverge from ours and that may potentially increase the risk that they would seek to act contrary to the contractual terms.

Our ability to control the consolidated VIE also depends on the voting rights proxy agreement and our company, through CETL, has to vote on all matters requiring shareholder approval in the consolidated VIE. As noted above, we believe this voting rights proxy agreement is legally enforceable but may not be as effective as direct equity ownership.

On July 31, 2018 Xin Yang was appointed as Chief Financial Officer of the Company.

The Company’s mailing address is Rm 205, 2/F, Building 17, Yard 1, Li Ze Road, Feng Tai District, Beijing 100073, China.

Item 3 Quantitative and Qualitative Disclosures About Market Risk.

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

Item 4 Controls and Procedures.

Evaluation of Disclosure Controls and Procedures:

We carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of March 31, 2023. This evaluation was carried out under the supervision and with the participation of our Chief Executive Officer and our Chief Financial Officer. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that, as of March 31, 2023, our disclosure controls and procedures were not effective due to the presence of material weaknesses in internal control over financial reporting.

A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis. Management has identified the following material weaknesses which have caused management to conclude that, as of March 31, 2023, our disclosure controls and procedures were not effective: (i) inadequate segregation of duties and effective risk assessment; and (ii) insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC guidelines.

Changes in Internal Control over Financial Reporting:

There were no changes in our internal control over financial reporting during the quarter ending March 31, 2023, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II — OTHER INFORMATION

Item 1. Legal Proceedings

We know of no materials, active or pending legal proceedings against us, nor are we involved as a plaintiff in any material proceedings or pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any beneficial shareholder are an adverse party or has a material interest adverse to us.

Item 1A. Risk Factors.

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information.

None.

ITEM 6. Exhibits

Exhibit No.		Description
31.1		Rule 13(a)-14(a)/15(d)-14(a) Certification of principal executive officer*
31.2		Rule 13(a)-14(a)/15(d)-14(a) Certification of principal executive officer*
32.1		Section 1350 Certification of principal executive officer *
32.2		Section 1350 Certification of principal executive officer *
101.INS		Inline XBRL Instance Document*
101.SCH		Inline XBRL Schema Document*
101.CAL		Inline XBRL Calculation Linkbase Document*
101.DEF		Inline XBRL Definition Linkbase Document*
101.LAB		Inline XBRL Label Linkbase Document*
101.PRE		Inline XBRL Presentation Linkbase Document*
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

* Filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	EZAGOO LIMITED
	(Name of Registrant)

Date: July 18, 2023

	By:	*/s/ Tan Xiaohao*
	Title:	President, Secretary, Treasurer, Director

EXHIBIT 31.1

CERTIFICATION

I, TAN XIAOHAO, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Ezagoo Limited (the “Company”) for the quarter ended March 31, 2023;

2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	b.	Designed such internal control over financial reporting, or caused such internal control to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.

	c.	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	d.	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting;

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

	a.	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

	b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: July 18, 2023

	By:	*/s/ Tan Xiaohao*
	Title:	President, Secretary, Treasurer, Director

EXHIBIT 31.2

CERTIFICATION

I, YANG XIN, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Ezagoo Limited (the “Company”) for the quarter ended March 31, 2023;

	a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	b.	Designed such internal control over financial reporting, or caused such internal control to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.

	c.	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	d.	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting;

	a.	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

	b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: July 18, 2023

	By:	*/s/ Yang Xin*
	Title:	Chief Financial Officer

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Ezagoo Limited (the “Company”) on Form 10-Q for the period ending March 31, 2023 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), The undersigned hereby certifies, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

Date: July 18, 2023

	By:	*/s/ Tan Xiaohao*
	Title:	President, Secretary, Treasurer, Director

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EXHIBIT 32.2

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

Date: July 18, 2023

	By:	*/s/ Yang Xin*
	Title:	Chief Financial Officer

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2023	Jul. 17, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	333-228681
Entity Registrant Name	EZAGOO LIMITED
Entity Central Index Key	0001752372
Entity Tax Identification Number	30-1077936
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	Rm 205, 2/F, Building 17
Entity Address, Address Line Two	Yard 1, Li Ze Road
Entity Address, City or Town	Feng Tai District
Entity Address, Country	CN
Entity Address, Postal Zip Code	100073
City Area Code	+86
Local Phone Number	139 751 09168
Title of 12(b) Security	Common Stock
Trading Symbol	EZAGOO
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		119,956,826

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2023	Dec. 31, 2022
CURRENT ASSETS
Cash and cash equivalents	$ 463,586	$ 454,980
Deposits, prepayments and other receivables	9,805	43,066
Income tax receivables	2,073	3,859
Total current assets	476,154	502,591
NON-CURRENT ASSETS
Property and equipment, net	1,011	1,124
Total non-current assets	179,864	182,644
TOTAL ASSETS	656,018	685,235
CURRENT LIABILITIES
Accounts payable	11,308	20,594
Accrual, other payables and deposits received	305,962	411,411
Deferred revenues	2,853	2,837
Total current liabilities	3,152,216	2,961,257
NON-CURRENT LIABILITIES
TOTAL LIABILITIES	3,169,047	2,961,257
STOCKHOLDERS’ DEFICIT
Preferred stocks, $0.0001 par value, 200,000,000 shares authorized, None issued and outstanding
Common stocks, $0.0001 par value, 600,000,000 shares authorized, 119,956,826 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively	11,996	11,996
Additional paid-in capital	1,494,979	1,467,490
Accumulated other comprehensive gain	63,536	76,280
Accumulated deficit	(4,083,540)	(3,831,788)
TOTAL STOCKHOLDERS’ DEFICIT	(2,513,029)	(2,276,022)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	656,018	685,235
Related Party [Member]
CURRENT ASSETS
Amount due from a related party	690	686
NON-CURRENT ASSETS
Operating right-of-use assets, related party	39,994
CURRENT LIABILITIES
Amount due to the related parties	2,652,857	2,342,816
Operating lease liabilities, related party, current portion	27,317
NON-CURRENT LIABILITIES
Operating lease liabilities, related party, non-current portion	16,831
Nonrelated Party [Member]
NON-CURRENT ASSETS
Operating right-of-use assets, related party	138,859	181,520
CURRENT LIABILITIES
Operating lease liabilities, related party, current portion	128,145	156,015
Director [Member]
CURRENT LIABILITIES
Amount due to the related parties	$ 23,774	$ 27,584

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	200,000,000	200,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares issued	119,956,826	119,956,826
Common stock, shares outstanding	119,956,826	119,956,826

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
REVENUES	$ 76,236	$ 249,736
COSTS AND EXPENSES
Cost of revenue - short video produce costs, related party		(5,652)
Cost of revenue - rental and related costs	(25,628)	(1,320)
Cost of revenue - salaries and related expenses	(39,489)	(60,765)
Sales and marketing expenses	(19,980)	(45,382)
General and administrative expenses	(215,453)	(317,212)
TOTAL COSTS AND EXPENSES	(300,550)	(430,331)
OPERATING LOSS	(224,314)	(180,595)
OTHER INCOME (EXPENSES)
Other income	56	1,243
Other expenses	(5)	(38)
Imputed interest expenses	(27,489)	(11,128)
TOTAL OTHER EXPENSES	(27,438)	(9,923)
LOSS BEFORE INCOME TAX	(251,752)	(190,518)
INCOME TAX EXPENSES
NET LOSS	(251,752)	(190,518)
Other comprehensive loss
Foreign exchange adjustment loss	(12,744)	(3,809)
COMPREHENSIVE LOSS	$ (264,496)	$ (194,327)
Net loss per share - Basic and diluted	$ (0.00)	$ (0.00)
Weighted average number of common shares outstanding – Basic and diluted	119,956,826	119,956,826

Condensed Consolidated Statements of Changes In Stockholders' Deficit (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2021	$ 11,996	$ 1,384,907	$ (107,503)	$ (2,578,180)	$ (1,288,780)
Beginning balance, shares at Dec. 31, 2021	119,956,826
Imputed interest expenses		11,128			11,128
Net loss				(190,518)	(190,518)
Other comprehensive loss			(3,809)		(3,809)
Ending balance, value at Mar. 31, 2022	$ 11,996	1,396,035	(111,312)	(2,768,698)	(1,471,979)
Ending balance, shares at Mar. 31, 2022	119,956,826
Beginning balance, value at Dec. 31, 2022	$ 11,996	1,467,490	76,280	(3,831,788)	(2,276,022)
Beginning balance, shares at Dec. 31, 2022	119,956,826
Imputed interest expenses		27,489			27,489
Net loss				(251,752)	(251,752)
Other comprehensive loss			(12,744)		(12,744)
Ending balance, value at Mar. 31, 2023	$ 11,996	$ 1,494,979	$ 63,536	$ (4,083,540)	$ (2,513,029)
Ending balance, shares at Mar. 31, 2023	119,956,826

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (251,752)	$ (190,518)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	2,507	2,702
Imputed interests, net	27,489	11,129
Changes in operating assets and liabilities:
Deposits, prepayments and other receivables	33,643	(61,048)
Accounts payable	(9,443)	(14,177)
Accrual and other payables	(62,317)	76,375
Receipts in advance	(45,681)
Deferred revenues		(108,420)
Income tax payable	1,803
Operating lease right-of-use assets	44,380	44,138
Operating lease right-of-use assets, related party	4,171
Operating lease liabilities	(30,488)	(45,531)
Net cash used in operating activities	(285,688)	(285,350)
CASH FLOWS FROM FINANCING ACTIVITIES:
Funds advanced from the related parties	297,698	210,344
Repayment to a director	(3,933)
Net cash provided by financing activities	293,765	210,344
Effect of exchange rate changes on cash and cash equivalents	529	201
Net change in cash and cash equivalents	8,606	(74,805)
Cash and cash equivalents, beginning of period	454,980	559,119
CASH AND CASH EQUIVALENTS, END OF PERIOD	463,586	484,314
SUPPLEMENTAL CASH FLOWS INFORMATION
Cash paid for income taxes
Cash paid for interest paid
NON-CASH INVESTING AND FINANCING ACTIVITY
Operating lease right-of-use asset obtained in exchange for operating lease obligation	$ 43,693

ORGANIZATION AND BUSINESS BACKGROUND

3 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

ORGANIZATION AND BUSINESS BACKGROUND

NOTE 1 – ORGANIZATION AND BUSINESS BACKGROUND

Ezagoo Limited, a Nevada corporation (“the Company”) was incorporated under the laws of the State of Nevada on May 9, 2018.

On May 9, 2018 Tan Xiaohao was appointed as President, Secretary, Treasurer, and Director of the Company.

On June 6, 2018 Ezagoo Holding Limited, a Seychelles Company, acquired Ezagoo Limited, A Hong Kong Company, in consideration of $0.13.

The three companies above are under common control Mr. Tan Xiaohao, the director of the Company, so they are related parties.

On July 31, 2018 Xin Yang was appointed Chief Financial Officer of the Company.

EZAGOO LIMITED and its subsidiaries are hereinafter referred to as the “Company”.

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

GOING CONCERN UNCERTAINTIES

3 Months Ended

Mar. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

GOING CONCERN UNCERTAINTIES

NOTE 2 - GOING CONCERN UNCERTAINTIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

● Basis of consolidated presentation

● Use of estimates

● Foreign currencies translation and re-measurement

Translation of amounts from RMB into US$1 has been made at the following exchange rates for the respective periods:

	2023		2022
	As of and for the three months ended March 31,
	2023		2022
	(Unaudited)		(Unaudited)
Period-end RMB: US$1 exchange rate		6,87		6.34
Period-average RMB: US$1 exchange rate		6.84		6.35
Period-end HK$: US$1 exchange rate		7.75		7.83
Period-average HK$: US$1 exchange rate		7.84		7.80
Period-end and Period-average RMB and HK$: US$1 exchange rate		7.84		7.80

● Cash and cash equivalents

● Account receivables

Account receivables are stated at the customer obligations due under normal trade terms net of allowance for doubtful accounts.

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

● Property, plant and equipment

Office equipment

3-5 years

The cost of maintenance and repairs is charged to expenses as incurred, whereas significant renewals and betterments are capitalized.

● Lease

● Revenue recognition

The Company assesses and follows the guidance of ASC 606, revenue from contracts with customers is recognized using the following five steps:

Identify the contract(s) with a customer;

		a.	The parties to the contract have approved the contract (in writing, orally, or in accordance with other customary business practices) and are committed to perform their respective obligations.
		b.	The entity can identify each party’s rights regarding the services to be transferred.
		c.	The entity can identify the payment terms for the services to be transferred.
		d.	The contract has commercial substance (that is, the risk, timing, or amount of the entity’s future cash flows is expected to change as a result of the contract).
		e.	It is probable that the entity will collect substantially all of the consideration to which it will be entitled in exchange for the services that will be transferred to the customer.

Identify the performance obligations in the contract;

		a.	According to the contract, the Company and Customer has to maintain the performance obligation, respectively.
		b.	The customer shall pay for the services and goods after signing of the contract and provide appropriate advertisement materials, and the delivery address & contact information of the e-commerce order to the Company, the Company shall ensure the published advertisement and delivered goods of the Customer according to the contract terms.

Determine the transaction price;

		a.	For the advertisement and e-commerce contract, the transaction price is explicitly stated in fixed amount in the contract. There is no variable consideration, such as discounts, rebates, consideration payable to customer or noncash consideration. There was no price concession, and the Company did not expect any price concession for the service performed during the periods ended March 31, 2023 and 2022.
		b.	The contract does not contain any elements that would cause consideration under the arrangement to be variable (Examples include discounts, rebates, refunds, credits, incentives, tiered pricing, price guarantees, right of return, etc.).
		c.	There are no factors that exist whereby it is not probable that a significant reversal or revenues will not occur in the contract.

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

Allocate the transaction price to the performance obligations in the contract; and

Recognize revenue when (or as) the entity satisfies a performance obligation.

		a.	Per ASC 606, an entity shall recognize revenue when (or as) the entity satisfies a performance obligation by transferring a promised good or service (that is, an asset) to a customer. An asset is transferred when (or as) the customer obtains control of that asset.
		b.	Revenue is recognized when the advertising service is performed. According to the sample advertising and e-commerce contract, upon obtaining the signed contract and order from the Customer, the service and goods’ period would be started. Therefore, the revenue is recognized when the service and goods are completely provided and delivered at that point in time.

● Cost of revenues

● Imputed Interest

● Value-added taxes

● Income taxes

● Earnings per share

● Commitments and contingencies

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

● Related party transaction

● Recent accounting pronouncements

PROPERTY AND EQUIPMENT

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE 4 - PROPERTY AND EQUIPMENT

	March 31, 2023			December 31, 2022
	As of
	March 31, 2023			December 31, 2022
	(Unaudited)			(Audited)
Office equipment	$	42,332		$	42,332
Less: Accumulated depreciation		(43,715	)		(41,208	)
Add: Foreign currency translation adjustment	$	2,394		$	-
Property and equipment, net	$	1,011		$	1,124

Depreciation expense, classified as operating expenses, was $2,507 and $2,702 for the three months ended March 31, 2023 and 2022, respectively.

Accumulated depreciation as of March 31, 2023 and December 31, 2022 were $43,715 and $41,208, respectively.

AMOUNT DUE FROM A RELATED PARTY

3 Months Ended

Mar. 31, 2023

AMOUNT DUE FROM A RELATED PARTY

NOTE 5 - AMOUNT DUE FROM A RELATED PARTY

DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES

3 Months Ended

Mar. 31, 2023

Deposits Prepayments And Other Receivables

DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES

NOTE 6 - DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES

Deposits, prepayments and other receivables consisted of the following:

	March 31, 2023		December 31, 2022
	As of
	March 31, 2023		December 31, 2022
	(Unaudited)		(Audited)
Deposits, prepayments and other receivables	$	9,805	$	43,066
Total deposits, prepayments and other receivables	$	9,805	$	43,066

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

ACCOUNTS PAYABLE

3 Months Ended

Mar. 31, 2023

Payables and Accruals [Abstract]

ACCOUNTS PAYABLE

NOTE 7 - ACCOUNTS PAYABLE

Accounts payable consists of the following:

SCHEDULE OF ACCOUNT PAYABLE

	March 31, 2023		December 31, 2022
	As of
	March 31, 2023		December 31, 2022
	(Unaudited)		(Audited)
Accounts payable	$	11,308	$	20,594
Total accounts payable	$	11,308	$	20,594

As of March 31, 2023 and December 31, 2022, our accounts payable of $11,308 and $20,594 were ZCZX’s e-commence costs payables to vendors in 2023 and 2022, respectively.

ACCRUED EXPENSES, OTHER PAYABLE AND DEPOSITS RECEIVED

3 Months Ended

Mar. 31, 2023

Payables and Accruals [Abstract]

ACCRUED EXPENSES, OTHER PAYABLE AND DEPOSITS RECEIVED

NOTE 8 – ACCRUED EXPENSES, OTHER PAYABLE AND DEPOSITS RECEIVED

Accrued expenses, other payable and deposits received consisted of the following:

	March 31, 2023		December 31, 2022
	As of
	March 31, 2023		December 31, 2022
	(Unaudited)		(Audited)
Accrued expenses	$	25,573	$	32,424
Other payable		223,595		277,283
Deposits received from customers		56,794		101,704
Total	$	305,962	$	411,411

DEFERRED REVENUES

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

DEFERRED REVENUES

NOTE 9 - DEFERRED REVENUES

As of March 31, 2023, and December 31, 2022, our deferred revenues are $2,853 and $2,837, respectively. These deferred revenues were expected to be recognized as revenue during the year 2023.

DUE TO DIRECTOR

3 Months Ended

Mar. 31, 2023

Due To Director

DUE TO DIRECTOR

NOTE 10 - DUE TO DIRECTOR

DUE TO RELATED PARTIES

3 Months Ended

Mar. 31, 2023

Due To Related Parties

DUE TO RELATED PARTIES

NOTE 11 - DUE TO RELATED PARTIES

SCHEDULE OF DUE TO RELATED PARTIES

	March 31, 2023		December 31, 2022
	As of
	March 31, 2023		December 31, 2022
	(Unaudited)		(Audited)
Amount due to related party B	$	216,780	$	215,520
Amount due to related party C		23,467		23,330
Amount due to related party D		538,698		242,630
Amount due to related party E		126,084		124,850
Amount due to related party G		263,843		262,309
Amount due to related party H		7,530		7,486
Amount due to related party I		2,912		2,461
Amount due to related party J		778,291		772,898
Amount due to related party K		39,308		39,079
Amount due to related party L		20,893		20,893
Amount due to related party M		347,066		345,049
Amount due to related party N		136,112		135,321
Amount due to related party O		119,379		118,684
Amount due to related party P		32,494		32,306
Total	$	2,652,857	$	2,342,816

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

		1			2
Disclosure of related parties’ transactions	Three months ended March 31,
	2023			2022
	(Unaudited)			(Unaudited)
Cost of revenue, related parties	$	-		$	5,652

Rent expenses, related parties	$	7,050		$	-

Imputed interest expenses to director	$	297		$	267
Imputed interest expenses to related parties		27,199			14,299
Imputed interest income from related parties		(7	)		(3,438	)
Total imputed interest expenses, net	$	27,489		$	11,128

OPERATING LEASE

3 Months Ended

Mar. 31, 2023

Operating Lease

OPERATING LEASE

NOTE 12 - OPERATING LEASE

The details lease terms are shown as followings:

SCHEDULE OF DETAILS OF LEASE TERM

Lease agreement	Expiry Date	Original Lease Term	The Remaining Lease Term
1^stBeijing office rent	Dec 9, 2023	2.67 years	0.67 years
2^ndChangsha office rent, related party	Aug 1, 2023	1 year	0.33 years
3^rdBeijing office rent, related party	Dec 31, 2023	1 year	0.75 years
4^th Changsha office rent, related party	Dec 31, 2024	2 years	1.75 years

This standard did not have a significant impact on our liquidity or on our compliance with our financial covenants associated with our loans.

The components of lease expense and supplemental cash flow information related to leases for the period are as follows:

(a) Rent expenses, non-related party

For the three months ended March 31, 2023 and 2022, the Company has incurred non-related party’s rent expenses solely for the office premises on a monthly basis as follows:

	2023			2022
	Three months ended March 31,
	2023			2022
	(Unaudited)			(Unaudited)
Lease Cost, non-related party
Operating lease cost (included in general and administration in the Company’s unaudited condensed statement of operations)	$	44,380		$	47,833

Other Information, non-related party
Cash paid for amounts included in the measurement of lease liabilities	$	30,448		$	49,226
Weighted average remaining lease term – operating leases (in years)		0.67			1.67
Average discount rate – operating leases		4.35	%		4.35	%

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

The supplemental balance sheet information related to non-related party’s leases as of March 31, 2023 and December 31, 2022 is as follows:


	As of
	March 31, 2023		December 31, 2022
	(Unaudited)		(Audited)
Operating leases, non-related party
Operating right-of-use assets, non-related party	$	138,859	$	181,520
Total operating right-of-use assets, non-related party	$	138,859	$	181,520

Operating lease liabilities- current portion, non-related party	$	128,145	$	156,015
Total operating lease liabilities, non-related party	$	128,145	$	156,015

Maturities of the Company’s lease liabilities of non-related party are as follows:


Period ending March 31,
2023 (non-related party)	$	129,913
2024 (non-related party)		-
Total lease payments (non-related party)		129,913
Less: Imputed interest/present value discount		(1,758	)
Present value of lease liabilities (non-related party)	$	128,145

(b) Rent expenses, related party

For the three months ended March 31, 2023 and 2022, the Company has incurred related party’s rent expenses solely for the office premises on a monthly basis as follows:

	2023			2022
	Three months ended March 31,
	2023			2022
	(Unaudited)			(Unaudited)
Lease Cost, related party
Operating lease cost (included in general and administration in the Company’s unaudited condensed statement of operations)	$	4,171		$	-

Other Information, related party
Cash paid for amounts included in the measurement of lease liabilities	$	-		$	-
Weighted average remaining lease term – operating leases (in years)		1.75			-
Average discount rate – operating leases		4.35	%		-

The supplemental balance sheet information related to related party’s leases as of March 31, 2023 and December 31, 2022 is as follows:


	As of
	March 31, 2023		December 31, 2022
	(Unaudited)		(Audited)
Operating leases, related party
Operating right-of-use assets, related party	$	39,994	$	-
Total operating right-of-use assets, related party	$	39,994	$	-

Operating lease liabilities, related party - current portion	$	27,317	$	-
Operating lease liabilities, related party – non-current portion		16,831
Total operating lease liabilities, related party	$	44,148	$	-

Maturities of the Company’s lease liabilities of related party are as follows:

Period ending March 31,
2023 (related party)	$	28,562
2024 (related party)		17,137
Total lease payments (related party)		45,699
Less: Imputed interest/present value discount		(1,551	)
Present value of lease liabilities (related party)	$	44,148

COMMON STOCK

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

COMMON STOCK

NOTE 13 – COMMON STOCK

As of March 31, 2023 and December 31, 2022, the Company has 119,956,826 shares issued and outstanding. There are no shares of preferred stock issued and outstanding.

ADDITIONAL PAID-IN CAPITAL

3 Months Ended

Mar. 31, 2023

Additional Paid-in Capital

ADDITIONAL PAID-IN CAPITAL

NOTE 14 – ADDITIONAL PAID-IN CAPITAL

As of March 31, 2023 and December 31, 2022, the Company has a total additional paid-in capital - capital contribution balance of $1,494,979 and $1,467,490 respectively.

SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2023

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 15 – SUBSEQUENT EVENTS

As of March 31, 2023, the Company advanced a total amount of $690 to a related party. They had repaid and settled the amount of $690 at May 2023.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

Basis of consolidated presentation

● Basis of consolidated presentation

Use of estimates

● Use of estimates

Foreign currencies translation and re-measurement

● Foreign currencies translation and re-measurement

Translation of amounts from RMB into US$1 has been made at the following exchange rates for the respective periods:

	2023		2022
	As of and for the three months ended March 31,
	2023		2022
	(Unaudited)		(Unaudited)
Period-end RMB: US$1 exchange rate		6,87		6.34
Period-average RMB: US$1 exchange rate		6.84		6.35
Period-end HK$: US$1 exchange rate		7.75		7.83
Period-average HK$: US$1 exchange rate		7.84		7.80
Period-end and Period-average RMB and HK$: US$1 exchange rate		7.84		7.80

Cash and cash equivalents

● Cash and cash equivalents

Account receivables

● Account receivables

Account receivables are stated at the customer obligations due under normal trade terms net of allowance for doubtful accounts.

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

Property, plant and equipment

● Property, plant and equipment

Office equipment

3-5 years

The cost of maintenance and repairs is charged to expenses as incurred, whereas significant renewals and betterments are capitalized.

Lease

● Lease

Revenue recognition

● Revenue recognition

The Company assesses and follows the guidance of ASC 606, revenue from contracts with customers is recognized using the following five steps:

Identify the contract(s) with a customer;

		a.	The parties to the contract have approved the contract (in writing, orally, or in accordance with other customary business practices) and are committed to perform their respective obligations.
		b.	The entity can identify each party’s rights regarding the services to be transferred.
		c.	The entity can identify the payment terms for the services to be transferred.
		d.	The contract has commercial substance (that is, the risk, timing, or amount of the entity’s future cash flows is expected to change as a result of the contract).
		e.	It is probable that the entity will collect substantially all of the consideration to which it will be entitled in exchange for the services that will be transferred to the customer.

Identify the performance obligations in the contract;

		a.	According to the contract, the Company and Customer has to maintain the performance obligation, respectively.
		b.	The customer shall pay for the services and goods after signing of the contract and provide appropriate advertisement materials, and the delivery address & contact information of the e-commerce order to the Company, the Company shall ensure the published advertisement and delivered goods of the Customer according to the contract terms.

Determine the transaction price;

		a.	For the advertisement and e-commerce contract, the transaction price is explicitly stated in fixed amount in the contract. There is no variable consideration, such as discounts, rebates, consideration payable to customer or noncash consideration. There was no price concession, and the Company did not expect any price concession for the service performed during the periods ended March 31, 2023 and 2022.
		b.	The contract does not contain any elements that would cause consideration under the arrangement to be variable (Examples include discounts, rebates, refunds, credits, incentives, tiered pricing, price guarantees, right of return, etc.).
		c.	There are no factors that exist whereby it is not probable that a significant reversal or revenues will not occur in the contract.

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

Allocate the transaction price to the performance obligations in the contract; and

Recognize revenue when (or as) the entity satisfies a performance obligation.

		a.	Per ASC 606, an entity shall recognize revenue when (or as) the entity satisfies a performance obligation by transferring a promised good or service (that is, an asset) to a customer. An asset is transferred when (or as) the customer obtains control of that asset.
		b.	Revenue is recognized when the advertising service is performed. According to the sample advertising and e-commerce contract, upon obtaining the signed contract and order from the Customer, the service and goods’ period would be started. Therefore, the revenue is recognized when the service and goods are completely provided and delivered at that point in time.

● Cost of revenues

● Imputed Interest

● Value-added taxes

● Income taxes

● Earnings per share

Commitments and contingencies

● Commitments and contingencies

EZAGOO LIMITED

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Unaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

Related party transaction

● Related party transaction

Recent accounting pronouncements

● Recent accounting pronouncements

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

SCHEDULE OF FOREIGN CURRENCY TRANSLATION OF EXCHANGE RATES

Translation of amounts from RMB into US$1 has been made at the following exchange rates for the respective periods:

	2023		2022
	As of and for the three months ended March 31,
	2023		2022
	(Unaudited)		(Unaudited)
Period-end RMB: US$1 exchange rate		6,87		6.34
Period-average RMB: US$1 exchange rate		6.84		6.35
Period-end HK$: US$1 exchange rate		7.75		7.83
Period-average HK$: US$1 exchange rate		7.84		7.80
Period-end and Period-average RMB and HK$: US$1 exchange rate		7.84		7.80

SCHEDULE OF PLANT AND EQUIPMENT EXPECTED USEFUL LIVES

Office equipment

3-5 years

PROPERTY AND EQUIPMENT (Tables)

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT

	March 31, 2023			December 31, 2022
	As of
	March 31, 2023			December 31, 2022
	(Unaudited)			(Audited)
Office equipment	$	42,332		$	42,332
Less: Accumulated depreciation		(43,715	)		(41,208	)
Add: Foreign currency translation adjustment	$	2,394		$	-
Property and equipment, net	$	1,011		$	1,124

DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES (Tables)

3 Months Ended

Mar. 31, 2023

Deposits Prepayments And Other Receivables

SCHEDULE OF DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES

Deposits, prepayments and other receivables consisted of the following:

	March 31, 2023		December 31, 2022
	As of
	March 31, 2023		December 31, 2022
	(Unaudited)		(Audited)
Deposits, prepayments and other receivables	$	9,805	$	43,066
Total deposits, prepayments and other receivables	$	9,805	$	43,066

ACCOUNTS PAYABLE (Tables)

3 Months Ended

Mar. 31, 2023

Payables and Accruals [Abstract]

SCHEDULE OF ACCOUNT PAYABLE

Accounts payable consists of the following:

SCHEDULE OF ACCOUNT PAYABLE

	March 31, 2023		December 31, 2022
	As of
	March 31, 2023		December 31, 2022
	(Unaudited)		(Audited)
Accounts payable	$	11,308	$	20,594
Total accounts payable	$	11,308	$	20,594

ACCRUED EXPENSES, OTHER PAYABLE AND DEPOSITS RECEIVED (Tables)

3 Months Ended

Mar. 31, 2023

Payables and Accruals [Abstract]

SCHEDULE OF ACCRUED EXPENSES, OTHER PAYABLE AND DEPOSITS RECEIVED

Accrued expenses, other payable and deposits received consisted of the following:

	March 31, 2023		December 31, 2022
	As of
	March 31, 2023		December 31, 2022
	(Unaudited)		(Audited)
Accrued expenses	$	25,573	$	32,424
Other payable		223,595		277,283
Deposits received from customers		56,794		101,704
Total	$	305,962	$	411,411

DUE TO RELATED PARTIES (Tables)

3 Months Ended

Mar. 31, 2023

Due To Related Parties

SCHEDULE OF DUE TO RELATED PARTIES

	March 31, 2023		December 31, 2022
	As of
	March 31, 2023		December 31, 2022
	(Unaudited)		(Audited)
Amount due to related party B	$	216,780	$	215,520
Amount due to related party C		23,467		23,330
Amount due to related party D		538,698		242,630
Amount due to related party E		126,084		124,850
Amount due to related party G		263,843		262,309
Amount due to related party H		7,530		7,486
Amount due to related party I		2,912		2,461
Amount due to related party J		778,291		772,898
Amount due to related party K		39,308		39,079
Amount due to related party L		20,893		20,893
Amount due to related party M		347,066		345,049
Amount due to related party N		136,112		135,321
Amount due to related party O		119,379		118,684
Amount due to related party P		32,494		32,306
Total	$	2,652,857	$	2,342,816

SCHEDULE OF DISCLOSURE OF RELATED PARTIES TRANSACTIONS

		1			2
Disclosure of related parties’ transactions	Three months ended March 31,
	2023			2022
	(Unaudited)			(Unaudited)
Cost of revenue, related parties	$	-		$	5,652

Rent expenses, related parties	$	7,050		$	-

Imputed interest expenses to director	$	297		$	267
Imputed interest expenses to related parties		27,199			14,299
Imputed interest income from related parties		(7	)		(3,438	)
Total imputed interest expenses, net	$	27,489		$	11,128

OPERATING LEASE (Tables)

3 Months Ended

Mar. 31, 2023

Defined Benefit Plan Disclosure [Line Items]

SCHEDULE OF DETAILS OF LEASE TERM

The details lease terms are shown as followings:

SCHEDULE OF DETAILS OF LEASE TERM

Lease agreement	Expiry Date	Original Lease Term	The Remaining Lease Term
1^stBeijing office rent	Dec 9, 2023	2.67 years	0.67 years
2^ndChangsha office rent, related party	Aug 1, 2023	1 year	0.33 years
3^rdBeijing office rent, related party	Dec 31, 2023	1 year	0.75 years
4^th Changsha office rent, related party	Dec 31, 2024	2 years	1.75 years

SCHEDULE OF LEASE COST AND OTHER INFORMATION RELATED TO OPERATING LEASES RELATED PARTY

For the three months ended March 31, 2023 and 2022, the Company has incurred non-related party’s rent expenses solely for the office premises on a monthly basis as follows:

	2023			2022
	Three months ended March 31,
	2023			2022
	(Unaudited)			(Unaudited)
Lease Cost, non-related party
Operating lease cost (included in general and administration in the Company’s unaudited condensed statement of operations)	$	44,380		$	47,833

Other Information, non-related party
Cash paid for amounts included in the measurement of lease liabilities	$	30,448		$	49,226
Weighted average remaining lease term – operating leases (in years)		0.67			1.67
Average discount rate – operating leases		4.35	%		4.35	%

SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES RELATED PARTY

The supplemental balance sheet information related to non-related party’s leases as of March 31, 2023 and December 31, 2022 is as follows:


	As of
	March 31, 2023		December 31, 2022
	(Unaudited)		(Audited)
Operating leases, non-related party
Operating right-of-use assets, non-related party	$	138,859	$	181,520
Total operating right-of-use assets, non-related party	$	138,859	$	181,520

Operating lease liabilities- current portion, non-related party	$	128,145	$	156,015
Total operating lease liabilities, non-related party	$	128,145	$	156,015

SCHEDULE OF MATURITIES OF LEASE LIABILITIES RELATED PARTY

Maturities of the Company’s lease liabilities of non-related party are as follows:


Period ending March 31,
2023 (non-related party)	$	129,913
2024 (non-related party)		-
Total lease payments (non-related party)		129,913
Less: Imputed interest/present value discount		(1,758	)
Present value of lease liabilities (non-related party)	$	128,145

Related Party [Member]

Defined Benefit Plan Disclosure [Line Items]

SCHEDULE OF LEASE COST AND OTHER INFORMATION RELATED TO OPERATING LEASES RELATED PARTY

For the three months ended March 31, 2023 and 2022, the Company has incurred related party’s rent expenses solely for the office premises on a monthly basis as follows:

	2023			2022
	Three months ended March 31,
	2023			2022
	(Unaudited)			(Unaudited)
Lease Cost, related party
Operating lease cost (included in general and administration in the Company’s unaudited condensed statement of operations)	$	4,171		$	-

Other Information, related party
Cash paid for amounts included in the measurement of lease liabilities	$	-		$	-
Weighted average remaining lease term – operating leases (in years)		1.75			-
Average discount rate – operating leases		4.35	%		-

SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES RELATED PARTY

The supplemental balance sheet information related to related party’s leases as of March 31, 2023 and December 31, 2022 is as follows:


	As of
	March 31, 2023		December 31, 2022
	(Unaudited)		(Audited)
Operating leases, related party
Operating right-of-use assets, related party	$	39,994	$	-
Total operating right-of-use assets, related party	$	39,994	$	-

Operating lease liabilities, related party - current portion	$	27,317	$	-
Operating lease liabilities, related party – non-current portion		16,831
Total operating lease liabilities, related party	$	44,148	$	-

SCHEDULE OF MATURITIES OF LEASE LIABILITIES RELATED PARTY

Maturities of the Company’s lease liabilities of related party are as follows:

Period ending March 31,
2023 (related party)	$	28,562
2024 (related party)		17,137
Total lease payments (related party)		45,699
Less: Imputed interest/present value discount		(1,551	)
Present value of lease liabilities (related party)	$	44,148

ORGANIZATION AND BUSINESS BACKGROUND (Details Narrative)	Jul. 20, 2018 CNY (¥)	Jun. 30, 2018 USD ($) $ / shares shares	May 09, 2018 USD ($) $ / shares shares	Mar. 31, 2023 $ / shares	Dec. 31, 2022 $ / shares	Jun. 25, 2018 $ / shares	Jun. 06, 2018 $ / shares
Common stock, par value				$ 0.0001	$ 0.0001
Management Services Agreement [Member] \| Changsha Ezagoo Technology Limited [Member]
Profit percentage	100.00%
Changsha Ezagoo Technology Limited [Member] \| Management Services Agreement [Member]
Percentage of shares owned	100.00%
Agreement, description	On July 20, 2018 CETL entered into and consummated an agreement with BESH and RFLL whereas BESH and RFLL have engaged CETL to provide management, financial, and other business services to Beijing Ezagoo Zhicheng Internet Technology Limited (formerly named as Hunan Ezagoo Zhicheng Internet Technology Limited that change the company name on December 2, 2020). CETL is to be compensated with 100% of all profits generated by Beijing Ezagoo Zhicheng Internet Technology Limited. This Agreement is effective as of July 20, 2018 and will continue in effect for a period of ten (10) years (the “Initial Term”), and for succeeding periods of the same duration (each, “Subsequent Term”), until terminated by one of the following means either during the Initial Term or thereafter: Mutual Consent, Termination by CETL, Breach or Insolvency
Agreement effective date	Jul. 20, 2018
Agreement period	10 years
Changsha Ezagoo Technology Limited [Member] \| Loan Agreement [Member]
Loans and leases receivable related parties \| ¥	¥ 100,000
Debt instrument, maturity date	Dec. 31, 2018
Ezagoo Holding Limited [Member]
Business acquisition share price						$ 1	$ 0.13
Restricted Stock [Member] \| Greenpro Asia Strategic SPC [Member]
Sale of stock number of shares issued in transaction \| shares		1,358,500
Tan Xiaohao [Member] \| Restricted Stock [Member]
Sale of stock number of shares issued in transaction \| shares			90,050,500
Common stock, par value			$ 0.0001
Sale of stock consideration received on transaction \| $			$ 9,005
Zhang Qianwen [Member] \| Restricted Stock [Member]
Sale of stock number of shares issued in transaction \| shares		3,591,000
Zhang Qianwen [Member] \| Restricted Stock [Member] \| Greenpro Asia Strategic SPC [Member]
Common stock, par value		$ 0.0001
Sale of stock consideration received on transaction \| $		$ 495

GOING CONCERN UNCERTAINTIES (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 4,083,540		$ 3,831,788
Net profit	$ 251,752	$ 190,518

SCHEDULE OF FOREIGN CURRENCY TRANSLATION OF EXCHANGE RATES (Details)	Mar. 31, 2023	Mar. 31, 2022
Period End [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Period-end and Period-average RMB and HK$: US$1 exchange rate	6.87	6.34
Period Average [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Period-end and Period-average RMB and HK$: US$1 exchange rate	6.84	6.35
Period End HK [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Period-end and Period-average RMB and HK$: US$1 exchange rate	7.75	7.83
Period Average HK [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Period-end and Period-average RMB and HK$: US$1 exchange rate	7.84	7.80

SCHEDULE OF PLANT AND EQUIPMENT EXPECTED USEFUL LIVES (Details) - Office Equipment [Member]	Mar. 31, 2023
Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accounting Policies [Abstract]
Imputed interest	$ 27,489	$ 11,128
Trading income percentage ralated to value added tax	13.00%	13.00%
Commission income percentage ralated to value added tax	6.00%	6.00%

SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Office equipment	$ 42,332	$ 42,332
Less: Accumulated depreciation	(43,715)	(41,208)
Add: Foreign currency translation adjustment	2,394
Property and equipment, net	$ 1,011	$ 1,124

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	3 Months Ended
PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 2,507	$ 2,702
Accumulated depreciation	$ 43,715		$ 41,208

AMOUNT DUE FROM A RELATED PARTY (Details Narrative) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Grand Progressive Holdings Limited [Member]
Related Party Transaction [Line Items]
Ownership percentage	100.00%
Mr. Xiaohao Tan [Member]
Related Party Transaction [Line Items]
Ownership percentage	100.00%
Related Party Q [Member]
Related Party Transaction [Line Items]
Due from related party	$ 690	$ 686

SCHEDULE OF DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Deposits Prepayments And Other Receivables
Deposits, prepayments and other receivables	$ 9,805	$ 43,066
Total deposits, prepayments and other receivables	$ 9,805	$ 43,066

DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES (Details Narrative) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Deposits Prepayments And Other Receivables
Prepaid expense and other assets	$ 9,805	$ 43,066

SCHEDULE OF ACCOUNT PAYABLE (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accounts payable	$ 11,308	$ 20,594
Total accounts payable	$ 11,308	$ 20,594

SCHEDULE OF ACCRUED EXPENSES, OTHER PAYABLE AND DEPOSITS RECEIVED (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued expenses	$ 25,573	$ 32,424
Other payable	223,595	277,283
Deposits received from customers	56,794	101,704
Total	$ 305,962	$ 411,411

ACCOUNTS PAYABLE (Details Narrative) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accounts payable current	$ 11,308	$ 20,594

DEFERRED REVENUES (Details Narrative) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Deferred revenues	$ 2,853	$ 2,837

DUE TO DIRECTOR (Details Narrative) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Director [Member]
Defined Benefit Plan Disclosure [Line Items]
Due to director, amount	$ 23,774	$ 27,584

SCHEDULE OF DUE TO RELATED PARTIES (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Related Party B [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	$ 216,780	$ 215,520
Related Party C [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	23,467	23,330
Related Party D [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	538,698	242,630
Related Party E [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	126,084	124,850
Related Party G [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	263,843	262,309
Related Party H [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	7,530	7,486
Related Party I [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	2,912	2,461
Related Party J [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	778,291	772,898
Related Party K [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	39,308	39,079
Related Party L [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	20,893	20,893
Related Party M [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	347,066	345,049
Related Party N [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	136,112	135,321
Related Party O [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	119,379	118,684
Related Party P [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	32,494	32,306
Related Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	$ 2,652,857	$ 2,342,816

SCHEDULE OF DISCLOSURE OF RELATED PARTIES TRANSACTIONS (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Cost of revenue, related parties		$ 5,652
Rent expenses, related parties	7,050
Total imputed interest expenses, net	27,489	11,128
Director [Member]
Defined Benefit Plan Disclosure [Line Items]
Imputed interest expenses to related parties	297	267
Related Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Imputed interest expenses to related parties	27,199	14,299
Imputed interest income from related parties	$ (7)	$ (3,438)

DUE TO RELATED PARTIES (Details Narrative) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Due to related parties	$ 690
Related Party B [Member]
Due to related parties	216,780	$ 215,520
Related Party C [Member]
Due to related parties	23,467	23,330
Related Party D [Member]
Due to related parties	538,698	242,630
Related Party E [Member]
Due to related parties	126,084	124,850
Related Party G [Member]
Due to related parties	263,843	262,309
Related Party H [Member]
Due to related parties	7,530	7,486
Related Party I [Member]
Due to related parties	2,912	2,461
Related Party J [Member]
Due to related parties	778,291	772,898
Related Party K [Member]
Due to related parties	39,308	39,079
Related Party L [Member]
Due to related parties	20,893	20,893
Related Party M [Member]
Due to related parties	347,066	345,049
Related Party N [Member]
Due to related parties	136,112	135,321
Related Party O [Member]
Due to related parties	119,379	118,684
Related Party P [Member]
Due to related parties	$ 32,494	$ 32,306
Related Party B [Member] \| Chengfu Tan [Member]
Equity method investment, ownership percentage	100.00%
Related Party G [Member] \| Mr. Xiaohao Tan [Member]
Equity method investment, ownership percentage	92.00%
Related Party G [Member] \| Ms. Qianwen Zhang [Member]
Equity method investment, ownership percentage	8.00%
Related Party H [Member] \| Hunan Yijiaren Hotel Limited [Member]
Equity method investment, ownership percentage	90.00%
Related Party H [Member] \| Beijing Ezagoo Zhicheng Internet Technology Limited and Ms. Qianwen Zhang [Member]
Equity method investment, ownership percentage	10.00%
Related Party I [Member] \| Beijing Ezagoo Industrial Development Group Holding Limited [Member]
Equity method investment, ownership percentage	80.00%
Related Party I [Member] \| Hunan Kuaile Motors Camping Site Investment Development Ltd [Member]
Equity method investment, ownership percentage	20.00%
Related Party J [Member] \| Beijing Ezagoo Industrial Development Group Holding Limited [Member]
Equity method investment, ownership percentage	95.00%
Related Party J [Member] \| Hunan Wancheng Xingyi Industrial Development Co Ltd [Member]
Equity method investment, ownership percentage	71.85%
Related Party J [Member] \| Mr. Xiaohao Tan [Member]
Equity method investment, ownership percentage	21.42%
Related Party J [Member] \| Mr. Xiaohao Tan [Member]
Equity method investment, ownership percentage	5.00%
Related Party L [Member] \| Mr. Xiaohao Tan [Member]
Equity method investment, ownership percentage	100.00%
Related Party M [Member] \| Mr. Xiaohao Tan [Member]
Equity method investment, ownership percentage	85.00%
Related Party N [Member] \| Mr. Xiaohao Tan [Member]
Equity method investment, ownership percentage	100.00%
Related Party P [Member] \| Beijing Ezagoo Industrial Development Group Holding Limited [Member]
Equity method investment, ownership percentage	82.00%

SCHEDULE OF DETAILS OF LEASE TERM (Details)	3 Months Ended
SCHEDULE OF DETAILS OF LEASE TERM (Details)	Mar. 31, 2023
1st Beijing Office Rent [Member]
Expiry Date	Dec. 09, 2023
Original Lease Term	2 years 8 months 1 day
The Remaining Lease Term	8 months 1 day
2nd Changsha Office Rent, Related Party [Member]
Expiry Date	Aug. 01, 2023
Original Lease Term	1 year
The Remaining Lease Term	3 months 29 days
3rd Beijing Office Rent, Related Party [Member]
Expiry Date	Dec. 31, 2023
Original Lease Term	1 year
The Remaining Lease Term	9 months
4th Changsha Office Rent, Related Party [Member]
Expiry Date	Dec. 31, 2024
Original Lease Term	2 years
The Remaining Lease Term	1 year 9 months

SCHEDULE OF LEASE COST AND OTHER INFORMATION RELATED TO OPERATING LEASES NON RELATED PARTY (Details) - Nonrelated Party [Member] - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Operating lease cost (included in general and administration in the Company’s unaudited condensed statement of operations)	$ 44,380	$ 47,833
Cash paid for amounts included in the measurement of lease liabilities	$ 30,448	$ 49,226
Weighted average remaining lease term - operating leases (in years)	8 months 1 day	1 year 8 months 1 day
Average discount rate - operating leases	4.35%	4.35%

SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES NON RELATED PARTY (Details) - Nonrelated Party [Member] - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Operating right-of-use assets, non-related party	$ 138,859	$ 181,520
Total operating right-of-use assets, non-related party	138,859	181,520
Operating lease liabilities- current portion, non-related party	128,145	156,015
Total operating lease liabilities, non-related party	$ 128,145	$ 156,015

SCHEDULE OF MATURITIES OF LEASE LIABILITIES NON RELATED PARTY (Details) - Nonrelated Party [Member] - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
2023 (non-related party)	$ 129,913
2024 (non-related party)
Total lease payments (non-related party)	129,913
Less: Imputed interest/present value discount	(1,758)
Present value of lease liabilities (non-related party)	$ 128,145	$ 156,015

SCHEDULE OF LEASE COST AND OTHER INFORMATION RELATED TO OPERATING LEASES RELATED PARTY (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Operating lease cost (included in general and administration in the Company’s unaudited condensed statement of operations)	$ (4,171)
Related Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Operating lease cost (included in general and administration in the Company’s unaudited condensed statement of operations)	4,171
Cash paid for amounts included in the measurement of lease liabilities
Weighted average remaining lease term - operating leases (in years)	1 year 9 months
Average discount rate - operating leases	4.35%

SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES RELATED PARTY (Details) - Related Party [Member] - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Operating right-of-use assets, related party	$ 39,994
Total operating right-of-use assets, non-related party	39,994
Operating lease liabilities, related party - current portion	27,317
Operating lease liabilities, related party – non-current portion	16,831
Total operating lease liabilities, non-related party	$ 44,148

SCHEDULE OF MATURITIES OF LEASE LIABILITIES RELATED PARTY (Details) - Related Party [Member]	Mar. 31, 2023 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2023 (related party)	$ 28,562
2024 (related party)	17,137
Total lease payments (non-related party)	45,699
Less: Imputed interest/present value discount	(1,551)
Present value of lease liabilities (related party)	$ 44,148

OPERATING LEASE (Details Narrative) - USD ($)	3 Months Ended
OPERATING LEASE (Details Narrative) - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Nonrelated Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Lease expenses	$ 44,380	$ 47,833
Related Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Lease expenses	$ 4,171	$ 0
1st Beijing Office Rent [Member]
Defined Benefit Plan Disclosure [Line Items]
Lease remaining lease term	8 months 1 day
2nd Changsha Office Rent, Related Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Lease remaining lease term	3 months 29 days
3rd Beijing Office Rent, Related Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Lease remaining lease term	9 months
4th Changsha Office Rent, Related Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Lease remaining lease term	1 year 9 months