Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Related Parties Transactions (Tables)

v3.22.1
Related Parties Transactions (Tables)
12 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]  
Schedule of accounts receivable- related party
    December 31,
2021
    December 31,
2020
 
Accounts receivable- related party  
 
       
- Global Deep Ocean   $ 5,660,857     $
-
 

 

Schedule of accounts payable - related parties
Name of related party   December 31,
2021
    December 31,
2020
 
Hong Long (1)   $
-
    $ 781,225  
Global Deep Ocean     28,209       7,602,944  
Fujian Jingfu Ocean Fishery Development Co., Ltd. (2)    
-
      1,327  
Huna Lin (3)     4,932,091       1,581,212  
    $ 4,960,300     $ 9,966,708  

 

Schedule of due to related parties
    December 31,
2021
    December 31,
2020
 
Accrued compensation for LiMing Yung, Chief Financial Officer   $ 15,000     $ 15,000  
Accrued compensation for Xinrong Zhuo, Chief Executive Officer     3,354       3,354  
Advance from Xinrong Zhuo, Chief Executive Officer     7,157,634      
-
 
    $ 7,175,988     $ 18,354  

 

Schedule of future minimum lease payments on office lease
Year Ending December 31:   Amount  
2022   $ 13,000  

 

Schedule of selling to related parties
    Year Ended December 31,  
    2021     Percentage
of revenue
    2020     Percentage
of revenue
    2019     Percentage
of revenue
 
                                                 
Xiamen International Trade Honglong Industrial Co., Ltd.   $ 570,465       0.3 %   $ 733,318       0.8 %   $
             -
     
         -
%

 

Schedule of purchases from related parties
    Year Ended December 31,  
    2021     2020     2019  
Purchase of fuel, freight, fishing nets and other on-board consumables                  
Fuzhou Honglong Ocean Fishery Co., Ltd.   $ 17,986,745     $ 2,001,375     $ 5,021,348  
Fujian Jingfu Marine Fishery Development Co., Ltd     2,297,533      
-
     
-
 
Zhiyan Lin    
-
      2,950       4,068  
Huna Lin     16,814,865       11,279,793      
-
 
      37,099,143       13,284,118       5,025,416  
Purchase of vessel maintenance service                        
Huna Lin    
-
     
-
      481,119  
Zhiyan Lin     4,201       7,144      
-
 
      4,201       7,144       481,119  
Purchase of inventory                        
Xiamen International Trade Honglong Industrial Co., Ltd.     3,421,288                  
Global Deep Ocean     14,040,989       17,186,623      
-
 
      17,462,277       17,186,623      
-
 
Purchase of storage and transportation service                        
Fuzhou Honglong Ocean Fishery Co., Ltd.    
-
     
-
      114,230  
Fujian Jingfu Ocean Fishery Development Co., Ltd.    
-
      707,153      
-
 
     
-
      707,153       114,230