Annual report pursuant to Section 13 and 15(d)

Related Parties Transactions (Tables)

v3.21.2
Related Parties Transactions (Tables)
12 Months Ended
Dec. 31, 2020
Related Parties Transactions (Tables) [Line Items]  
Schedule of accounts payable - related parties
Name of related party   December 31,
2020
    December 31,
2019
 
Global Deep Ocean   $ 7,602,944     $ -  
Hong Long (1)     781,225       270,230  
Fujian Jingfu Ocean Fishery Development Co., Ltd. (2)     1,327      
-
 
Huna Lin(3)     1,581,212       1,436,987  
    $ 9,966,708     $ 1,707,217  

 

Schedule of due to related parties
    December 31,
2020
    December 31,
2019
 
Accrued compensation for LiMing Yung, Chief Financial Officer   $ 15,000     $ 15,000  
Accrued compensation for Xinrong Zhuo, Chief Executive Officer     3,354       3,328  
Advance from Xinrong Zhuo    
-
      150,000  
    $ 18,354     $ 168,328  

 

Schedule of future minimum lease payments on office lease
Year Ending December 31:   Amount  
2021   $ 7,104  

 

Schedule of selling to related parties
    Year Ended December 31,  
    2020     Percentage
of revenue
    2019     Percentage
of revenue
    2018     Percentage
of revenue
 
                                                 
Xiamen International Trade Honglong Industrial Co., Ltd.   $ 733,318       0.8 %   $
-
     
        -
%   $
             -
     
         -
%

 

Schedule of purchases from related parties
    Year Ended December 31,  
    2020     2019     2018  
Purchase of fuel, freight, fishing nets and other on-board consumables                  
Fuzhou Honglong Ocean Fishery Co., Ltd.   $ 2,001,375     $ 5,021,348     $ 2,046,821  
Zhiyan Lin     2,950       4,068       -  
Huna Lin     11,279,793       -       -  
      13,284,118       5,025,416       2,046,821  
Purchase of vessel maintenance service                        
Huna Lin     -       481,119       48,388  
Zhiyan Lin     7,144       -       -  
Fuzhou Honglong Ocean Fishery Co., Ltd.     -       -       71,084  
      7,144       481,119       119,472  
Purchase of frozen shimp                        
Global Deep Ocean     17,186,623       -       -  
      17,186,623       -       -  
Purchase of storage and transportation service                        
Fuzhou Honglong Ocean Fishery Co., Ltd.     -       114,230       465,863  
Fujian Jingfu Ocean Fishery Development Co., Ltd.     707,153       -       -  
      707,153       114,230       465,863  
Hong Long [Member]  
Related Parties Transactions (Tables) [Line Items]  
Schedule of accounts payable - related parties
    December 31,
2020
    December 31,
2019
 
Due from related party-Honglong   $
           -
    $ 12,477,777