China United Insurance Service (CUII) 10-K30 Mar 232022 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2022	Mar. 30, 2023	Jun. 30, 2022
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2022
Entity File Number	000-54884
Entity Registrant Name	China United Insurance Service, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	30-0826400
Entity Address, Address Line One	7F, No. 311 Section 3
Entity Address, Address Line Two	Nan-King East Road
Entity Address, City or Town	Taipei City
Entity Address, Country	TW
City Area Code	8862
Local Phone Number	87126958
Title of 12(g) Security	Common Stock, par value of $0.00001
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 63,279,076
Entity Common Stock, Shares Outstanding		30,286,199
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0001512927
Current Fiscal Year End Date	--12-31
Trading Symbol	CUII
Auditor Name	UHY LLP
Auditor Firm ID	1195
Auditor Location	Irvine, California

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 25,557,582	$ 18,234,350
Time deposits	66,969,959	64,299,176
Accounts receivable	27,562,055	26,761,678
Marketable securities	816,749
Other current assets	1,146,749	1,207,496
Total current assets	122,053,094	110,502,700
Right-of-use assets under operating leases	7,162,373	6,449,182
Property and equipment, net	1,634,116	2,061,755
Intangible assets, net	333,966	333,118
Long-term investments	2,335,655	2,696,812
Restricted cash - noncurrent	7,679	88,282
Deferred tax assets	999,101	909,032
Other assets	4,366,812	4,740,640
TOTAL ASSETS	138,892,796	127,781,521
Current liabilities
Commission payable to sales professionals	16,221,438	14,003,541
Short-term loans	21,009,464	18,835,932
Contract liabilities - current	155,189
Income tax payable - current	2,920,542	3,893,047
Operating lease liabilities - current	3,556,295	3,059,329
Due to related parties	53,868	50,531
Other current liabilities	12,593,597	13,997,603
Total current liabilities	56,510,393	53,839,983
Contract liabilities - noncurrent	1,241,514
Income tax payable - noncurrent	299,797	539,636
Operating lease liabilities - noncurrent	3,514,245	3,298,089
Net defined benefit liabilities - noncurrent	305,545	389,198
Other liabilities	488,846	541,754
TOTAL LIABILITIES	62,360,340	58,608,660
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Preferred stock, par value $0.00001, 10,000,000 authorized, 1,000,000 issued and outstanding as of December 31, 2022 and 2021, respectively	10	10
Common stock, par value $0.00001, 100,000,000 authorized, 30,286,199 issued and outstanding as of December 31, 2022 and 2021, respectively	303	303
Additional paid-in capital	9,296,953	9,296,953
Statutory reserves	12,514,095	11,101,064
Retained earnings	23,378,500	13,690,368
Accumulated other comprehensive (loss) income	(1,843,804)	4,664,848
Total stockholders' equity attributable to China United's shareholders	43,346,057	38,753,546
Noncontrolling interests	33,186,399	30,419,315
TOTAL STOCKHOLDERS' EQUITY	76,532,456	69,172,861
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 138,892,796	$ 127,781,521

CONSOLIDATED BALANCE SHEETS (PA

CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
CONSOLIDATED BALANCE SHEETS
Preferred stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	1,000,000	1,000,000
Preferred stock, shares outstanding	1,000,000	1,000,000
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	30,286,199	30,286,199
Common stock, shares outstanding	30,286,199	30,286,199

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME (LOSS) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME (LOSS)
Revenue	$ 131,930,218	$ 131,363,175
Cost of revenue	86,846,265	84,943,319
Gross profit	45,083,953	46,419,856
Operating expenses (income):
Selling	3,171,793	2,285,956
General and administrative	27,035,082	27,400,845
Gain on disposal of nonfinancial assets in Jiangsu Law	(3,262,890)
Total operating expense (income), net	26,943,985	29,686,801
Income from operations	18,139,968	16,733,055
Other income (expenses):
Interest income	721,300	448,657
Interest expenses	(382,685)	(183,927)
Foreign currency exchange gain (loss), net	2,003,168	(140,371)
Dividend income	233,024	258,601
Fair value remeasurement on earn-out provisions		(1,106,513)
Other - net	274,954	638,117
Total other income (expense), net	2,849,761	(85,436)
Income before income taxes	20,989,729	16,647,619
Income tax expense	(3,979,409)	(4,994,651)
Net income	17,010,320	11,652,968
Less: net income attributable to noncontrolling interests	(5,909,157)	(5,422,847)
Net income attributable to China United's shareholders	11,101,163	6,230,121
Other comprehensive items, net of tax:
Foreign currency translation (loss) gain	(9,776,502)	1,159,971
Other	125,777	16,175
Total other comprehensive (loss) gain	(9,650,725)	1,176,146
Comprehensive income	7,359,595	12,829,114
Less: comprehensive income attributable to noncontrolling interests	(2,767,084)	(5,823,574)
Comprehensive income attributable to China United's shareholders	$ 4,592,511	$ 7,005,540
Weighted average shares outstanding:
Basic	30,286,199	29,604,102
Diluted	30,286,199	29,604,102
Earnings per share attributable to China United's shareholders:
Basic	$ 0.355	$ 0.204
Diluted	$ 0.355	$ 0.204

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)	Common Stock	Preferred Stock	Additional Paid-in Capital	Statutory Reserves	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Total	Noncontrolling Interests	Total
Balance at Dec. 31, 2020	$ 294	$ 10	$ 8,190,449	$ 9,463,903	$ 3,889,429	$ 9,097,408	$ 30,641,493	$ 24,595,741	$ 55,237,234
Balance (in shares) at Dec. 31, 2020	29,421,736	1,000,000
Appropriation of reserves				1,637,161		(1,637,161)
Issuance of common stock	$ 9		1,106,504				1,106,513		1,106,513
Issuance of common stock (in shares)	864,463
Foreign currency translation gain (loss)					764,751		764,751	395,220	1,159,971
Other comprehensive income unrealized holding gain					10,668		10,668	5,507	16,175
Net income						6,230,121	6,230,121	5,422,847	11,652,968
Balance at Dec. 31, 2021	$ 303	$ 10	9,296,953	11,101,064	4,664,848	13,690,368	38,753,546	30,419,315	69,172,861
Balance (in shares) at Dec. 31, 2021	30,286,199	1,000,000
Appropriation of reserves				1,413,031		(1,413,031)
Foreign currency translation gain (loss)					(6,591,602)		(6,591,602)	(3,184,900)	(9,776,502)
Other comprehensive income unrealized holding gain					82,950		82,950	42,827	125,777
Net income						11,101,163	11,101,163	5,909,157	17,010,320
Balance at Dec. 31, 2022	$ 303	$ 10	$ 9,296,953	$ 12,514,095	$ (1,843,804)	$ 23,378,500	$ 43,346,057	$ 33,186,399	$ 76,532,456
Balance (in shares) at Dec. 31, 2022	30,286,199	1,000,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 17,010,320	$ 11,652,968
Adjustments to reconcile net income to net cash provided by operating activities:
Loss from settlement of contingency		1,106,513
Depreciation and amortization	1,118,645	1,170,743
Amortization of right-of-use assets	3,686,729	3,966,854
Net periodic pension cost	125,777	15,812
Amortization of bond premium		58
Loss on valuation of financial assets	315,943	81,022
Gain on sales of financial assets		(75,947)
Loss (Gain) on disposal of equipment	6,272	(1)
Gain on disposal of nonfinancial assets in Jiangsu Law	(3,262,890)
Deferred income tax	(318,647)	154,678
Unrealized foreign currency exchange gains	(2,006,129)
Net changes in operating assets and liabilities:
Accounts receivable	(3,497,311)	(1,047,547)
Other current assets	(155,141)	254,167
Other assets	145,136	(653,321)
Commission payable to sales professionals	3,689,465	1,727,790
Contract liabilities	1,438,879	(1,125,689)
Income tax payable	(923,496)	527,177
Other current liabilities	362,619	453,525
Other liabilities	(47,023)	(173,155)
Lease liabilities	(4,056,372)	(4,260,159)
Net cash provided by operating activities	13,632,776	13,775,488
Cash flows from investing activities:
Purchases of time deposits	(90,834,052)	(79,319,618)
Proceeds from maturities of time deposits	82,177,863	69,194,779
Acquisition of equity investments under cost method using the measurement alternative		(46,512)
Purchases of marketable securities	(1,055,665)	(1,727,668)
Proceeds from sales of marketable securities		3,083,386
Proceeds from sales of long-term investments - REITs		142,191
Proceeds from disposal of nonfinancial assets in Jiangsu Law	3,262,890
Purchase of equipment	(772,245)	(674,948)
Purchase of intangible assets	(175,611)	(116,539)
Proceeds from disposal of equipment	25,332	18,600
Net cash used in investing activities	(7,371,488)	(9,446,329)
Cash flows from financing activities:
Proceeds from short-term loans	57,009,663	22,536,112
Repayment of short-term loans	(53,897,648)	(17,970,000)
Repayment of related party borrowings	(35,454)	(49,334)
Net cash provided by financing activities	3,076,561	4,516,778
Foreign currency translation	(2,095,220)	346,867
Net increase in cash, cash equivalents and restricted cash	7,242,629	9,192,804
Cash, cash equivalents and restricted cash, beginning balance	18,322,632	9,129,828
Cash, cash equivalents and restricted cash, ending balance	25,565,261	18,322,632
SUPPLEMENTARY DISCLOSURE
Interest paid	356,800	181,911
Income tax paid	4,989,567	3,588,250
SUPPLEMENTARY DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Lease liabilities arising from new right-of-use assets	$ 4,399,919	$ 3,891,481

ORGANIZATION AND PRINCIPAL ACTI

ORGANIZATION AND PRINCIPAL ACTIVITIES	12 Months Ended
ORGANIZATION AND PRINCIPAL ACTIVITIES	Dec. 31, 2022
ORGANIZATION AND PRINCIPAL ACTIVITIES
ORGANIZATION AND PRINCIPAL ACTIVITIES	NOTE 1 – ORGANIZATION AND PRINCIPAL ACTIVITIES China United Insurance Service, Inc. (“China United” or “CUII”), the subsidiaries and variable-interest entity and its subsidiaries (collectively referred to herein, as the “Company”) primarily engage in insurance brokerage and insurance agency services. The Company markets and sells to customers, two broad categories of insurance products: life insurance products and property and casualty insurance products, both focused on meeting the particular insurance needs of individuals. The insurance products are underwritten by some of the leading insurance companies in Taiwan and China. The Company manages its business through aggregating them into three geographic operating segments, Taiwan, People’s Republic of China (“PRC”), and Hong Kong. The Company’s common stock currently trades over the counter under the ticker symbol “CUII” on the OTCQB. The corporate structure as of December 31, 2022 is as follows: On January 31, 2022, Genius Investment Consultant Co., Ltd. (“GIC”), a subsidiary entity of CUII entered into a stock transfer agreement with AIlife International Investment Co., Ltd. (“AIlife”), pursuant to which GIC sold and transferred to AIlife 100% of its equity ownership in Joint Insurance Broker Co., Ltd. (“JIB”), a former wholly-owned subsidiary of GIC, resulting in AIlife owning 100% equity interest in JIB. Such exchange of equity interests between CUII’s subsidiaries are under common control of the Company and therefore, they were accounted for at the carrying amount of the equity interests transferred and there was no impact on consolidated financial statements as of and for the year ended December 31, 2022. On February 25, 2022, Law Anhou Insurance Agency Co., Ltd. (“Anhou”), a contractually controlled entity of CUII entered into a Share Purchase Agreement with Jiangsu Law Insurance Brokerage Co., Ltd. (“Jiangsu Law”) and third-party buyers, pursuant to which Anhou sold and transferred 100% of its equity ownership in Jiangsu Law, a wholly owned subsidiary of Anhou, for a total consideration of $3,262,890 (or RMB 21 million). On July 28, 2022, the Hsuchow Regulatory Bureau of the China Banking and Insurance Regulatory Commission (the “CBIRC Hsuchow Regulatory Bureau”) approved the change of shareholders of Jiangsu Law from Anhou to the aforementioned third-party buyers and accordingly, Anhou has transferred out the control over Jiangsu Law. Please refer to Note 3 for more information.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The accompanying consolidated financial statements include the accounts of China United, the subsidiaries and variable interest entity and its subsidiaries as shown in the corporate structure in Note 1. All significant intercompany transactions and balances have been eliminated in the consolidation. The Company consolidates variable interest entities where it has been determined that the Company is the primary beneficiary of those entities’ operations. Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”). Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and footnotes thereto. Actual results may differ from those estimates and assumptions. Variable Interest Entities Due to the legal restrictions on foreign ownership and investment in insurance agency and brokerage businesses in China, especially those on qualifications as well as capital requirement of the investors, China United, through its subsidiary, Zhengzhou Zhonglian Hengfu Business Consulting Co., Limited (“WFOE”), entered into Exclusive Business Cooperation Agreement (the “EBCA”), Power of Attorney, Option Agreement, and Share Pledge Agreement (collectively, the “First VIE Agreements”) on January 17, 2011 with Anhou and Anhou original shareholders so as to operate and conduct the insurance agency and brokerage business in the PRC. Pursuant to the EBCA, (a) WFOE has the right to provide Anhou with complete technical support, business support and related consulting services during the term of the EBCA; (b) Anhou agrees to accept all the consultations and services provided by WFOE. Anhou further agrees that unless with WFOE’s prior written consent, during the term of the EBCA, Anhou shall not directly or indirectly accept the same or any similar consultations and/or services provided by any third party and shall not establish similar cooperation relationship with any third party regarding the matters contemplated by the EBCA; (c) within 90 days after the end of each fiscal year Anhou shall pay an amount to WFOE equal to the shortfall, if any, of the aggregate net income of Anhou for such fiscal; (d) WFOE retains all exclusive and proprietary rights and interests in all rights, ownership, interests and intellectual properties arising out of or created during the performance of the EBCA; and (e) the shareholders of Anhou have pledged all of their equity interests in Anhou to WFOE to guarantee Anhou’s performance of its obligations under the EBCA. The term of the EBCA is 10 years and may be extended and determined by WFOE prior to the expiration thereof, and Anhou shall accept such extended term unconditionally. On March 23, 2022, Anhou and WFOE entered into an amendment to the EBCA, pursuant to which the EBCA shall be automatic renewed for successive terms unless WFOE gives a 30-day notice to terminate such agreement, with each term being 10 years. To extend the business within the PRC, Anhou intended to increase its registered capital to RMB 50 million (approximately $ 7 million) to meet the requirement of the China Insurance Regulatory Commission (the “CIRC”) so that it can set up new branches in any province beyond its current operations in China. China United increased the investment in Anhou through various loan agreements with the shareholders of Anhou. The aggregate funding provided by WFOE was RMB 40 million. Due to the capital increase, a series of variable interest agreements (the “Second VIE Agreements”), which include Power of Attorneys, Exclusive Option Agreements, Share Pledge Agreements, were signed on October 24, 2013 and entered in the same form as the First VIE Agreements, other than the change of shareholder names and their respective shareholdings. The First VIE Agreements were terminated by and among WFOE, Anhou and Anhou original shareholders on the same date. The EBCA executed by and between WFOE and Anhou on January 17, 2011 remains in full effect. As a result of the Second VIE Agreements, WFOE is considered the primary beneficiary of Anhou and has effective control over Anhou. Accordingly, the results of operations, assets and liabilities of Anhou and its subsidiaries (collectively, the “Consolidated Affiliated Entities” or the “CAE”) are consolidated from the earliest period presented. The Company reviews the VIE’s status on an annual basis and determines if any events have occurred that could cause its primary beneficiary status to change, which include (a) the legal entity’s governing documents or contractual arrangements are changed in a manner that changes the characteristics or adequacy of the legal entity’s equity investment at risk; (b) the equity investment or some part thereof is returned to the equity investors, and other interests become exposed to expected losses of the legal entity; (c) the legal entity undertakes additional activities or acquires additional assets, beyond those anticipated at the later of the inception of the entity or the latest reconsideration event, that increase the entity’s expected losses; and (d) the legal entity receives an additional equity investment that is at risk, or the legal entity curtails or modifies its activities in a way that decreases its expected losses. For the years ended December 31, 2022 and 2021, no event taken place that would change the Company’s primary beneficiary status. It is uncertain whether any new PRC laws or regulations relating to variable interest entity structures will be adopted or if adopted, what they would provide. PRC regulatory authorities could disallow this structure, which would materially adversely affect our operations in China and could cause the value of our securities to significantly decline or become worthless. Noncontrolling Interests Noncontrolling interests represent amounts related to majority-owned subsidiaries in which the Company has a controlling financial interest. The amount of noncontrolling interest is consisted of the amount of such interests at the date of the Company's original acquisition of an equity interest and the noncontrolling holders’ percentage share of income or losses from the subsidiaries. Disposal of Subsidiary A disposal of a subsidiary is categorized as a discontinued operation as provided by ASC Topic 205-20, Presentation of Financial Statements - Discontinued Operations, if the disposal group is a component of an entity or group of components that meets the held for sale criteria, is disposed of by sale, or is disposed of other than by sale, and represents a strategic shift that has or will have a major effect on an entity’s operations and financial results. The Company deconsolidates the accounts of a subsidiary as provided by ASC Topic 810, Consolidation, once the Company ceases to have a controlling interest in a subsidiary. The aggregate of the fair value of consideration received, the fair value of any retained noncontrolling investment and the carrying amount of the former subsidiary’s assets and liabilities are recognized as a gain or loss on disposition. If the transaction involves the sale of an ownership interest in a subsidiary and if substantially all of the fair value of the assets in that subsidiary promised to the counterparty is concentrated in nonfinancial assets, the financial assets in that subsidiary are in substance nonfinancial assets (ISNFA) and are accounted for under ASC 610-20, where the gain or loss recognized upon the derecognition of a nonfinancial asset or an ISNFA is the difference between the amount of consideration measured and allocated to that distinct asset and the carrying amount of the distinct asset. Foreign Currency Transactions China United’s financial statements are presented in U.S. dollars ($), which is the China United’s reporting and functional currency. The functional currencies of the China United’s subsidiaries are New Taiwan dollar (“NTD”), China yuan (“RMB”) and Hong Kong dollar (“HKD”). Each subsidiary maintains its financial records in its own functional currency. Transactions denominated in foreign currencies are measured at the exchange rates prevailing on the transaction dates. Monetary assets and liabilities denominated in foreign currencies are remeasured at the exchange rates prevailing at the balance sheet date. Non-monetary items that are measured in terms of historical cost in foreign currency are remeasured using the exchange rates at the dates of the initial transactions. Exchange gains and losses are included in the consolidated statements of operations. The Company translates the assets and liabilities into U.S. dollars using the rate of exchange prevailing at the balance sheet date and the statements of operations and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation from NTD, RMB and HKD into U.S. dollars are recorded in stockholders’ equity as part of accumulated other comprehensive income. Cash flows were also translated at average translation rates for the period and, therefore, amounts reported on the statement of cash flows would not necessarily agree with changes in the corresponding balances on the consolidated balance sheet. The exchange rates used for consolidated financial statements are as follows: Average Rate for the Years Ended December 31, 2022 2021 Taiwan dollar (NTD) NTD 29.78510 NTD 27.91940 China yuan (RMB) RMB 6.72838 RMB 6.44995 Hong Kong dollar (HKD) HKD 7.83026 HKD 7.77225 United States dollar ($) $ 1.00000 $ 1.00000 Exchange Rate at December 31, 2022 2021 Taiwan dollar (NTD) NTD 30.68450 NTD 27.68785 China yuan (RMB) RMB 6.89730 RMB 6.35877 Hong Kong dollar (HKD) HKD 7.80776 HKD 7.79713 United States dollar ($) $ 1.00000 $ 1.00000 Fair Value Measurement Fair value accounting establishes a framework for measuring fair value and expands disclosure about fair value measurements. Fair value, which is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. This framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows: -Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. -Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liabilities, either directly or indirectly, for substantially the full term of the financial instruments. -Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. In determining the appropriate levels, the Company performs a detailed analysis of the assets and liabilities that are measured and reported on a fair value basis. At each reporting period, all assets and liabilities for which the fair value measurement is based on significant unobservable inputs are classified as Level 3. Cash and Cash Equivalents Cash and cash equivalents include cash in banks, bank deposits, and highly liquid investments with maturities of three months or less at the date of origination. Restricted Cash Restricted cash represent amounts held in banks by the Company in conformity with Provisions of the Supervision and Administration of Specialized Insurance Agencies by the CIRC and a trust account held for bonus accrued for officers. Time Deposits Time deposits are short-term bank deposits with maturities of more than three months but less than one year at the date of origination. Marketable Securities The Company invests part of its excessive cash in equity securities. Marketable securities represent trading securities bought and held primarily for sale in the near-term to generate income on short-term price differences and are stated at fair value. Realized and unrealized gains and losses are recorded in other income (expense). Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable includes commission receivables stated at net realizable values. The Company reviews its accounts receivable regularly to determine if a bad debt allowance is necessary at each quarter-end. Management reviews the composition of accounts receivable and analyzes the age of receivables outstanding, customer concentrations, customer credit worthiness, current economic trends and changes in customer payment patterns to evaluate the necessity of making such allowance. No allowance was deemed necessary as of December 31, 2022 and 2021. Property and Equipment Property and equipment are stated at cost, less accumulated depreciation. Expenditures for improvements are capitalized; repairs and maintenance are charged to expense as incurred. Upon sale or retirement, the cost and related accumulated depreciation are removed from the accounts and any gain or loss is recorded in other income (expense). Depreciation of office equipment, office furniture, transportation equipment and other equipment is computed using straight-line method based on estimated useful lives with estimated salvage value. The estimated useful lives for office equipment, office furniture, transportation equipment and other equipment are three three Intangible Assets For internally developed software, costs incurred in the development phase are capitalized and amortized over the product’s estimated useful life. All costs incurred that relate to planning and post implementation phases of development are expensed. Development phase costs generally include salaries and personnel costs and third-party contractor expenses associated with software development, configuration and coding. Capitalized costs related to internally developed software under development are treated as construction in progress until the program, feature or functionality is ready for its intended use, at which time amortization commences. The Company did not capitalize any expenditure related to internally developed software for the period 2022 and 2021. Impairment of Long-Lived Assets The Company reviews the carrying values of the long-lived assets when circumstances warrant as to whether the carrying value has become impaired. The Company considers assets to be impaired if the carrying value of an asset exceeds the present value of future net undiscounted cash flows from its related operations. There was no impairment recognized for the years ended December 31, 2022 and 2021. Long-Term Investments Long-term investments include investment in real estate investment trusts (“REITs”) measured at fair value through net income, and equity investments using cost method under the measurement alternative. Available-for-sale investments are carried at fair value and unrealized gains and losses as a result of changes in the fair value are recorded as a separate component within accumulated other comprehensive income (loss) in the accompanying consolidated balance sheets. The Company evaluates its available-for-sale debt securities to assess whether those with unrealized loss positions are other-than-temporarily impaired. Impairments are considered to be other-than-temporary if they are related to deterioration in credit risk or if it is likely that the Company will sell the securities before the recovery of its cost basis. Realized gains and losses and declines in value judged to be other-than-temporary are determined based on the specific identification method and are reported in other income (expense) in the consolidated statements of comprehensive loss. The Company measures equity investments in companies that do not have a readily determinable fair value in which it holds an interest of less than 20% using cost method under the measurement alternative, which is defined as cost, less any impairments, a plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer, if any. Significant judgments are required to determine (i) whether observable price changes are orderly transactions and identical or similar to an investment held by the Company; and (ii) the selection of appropriate valuation methodologies and underlying assumptions, including expected volatility and the probability of exit events as it relates to liquidation and redemption features used to measure the price adjustments for the difference in rights and obligations between instruments. For equity investments measured at fair value with changes in fair value recorded in earnings, the Company does not assess whether those securities are impaired. For equity investments that the Company elects to use the measurement alternative, the Company makes a qualitative assessment considering impairment indicators to evaluate whether investments are impaired at each reporting date. Impairment indicators considered include, but are not limited to, a significant deterioration in the earnings performance or business prospects of the investee, including factors that raise significant concerns about the investee’s ability to continue as a going concern, a significant adverse change in the regulatory, economic, or technologic environment of the investee and a significant adverse change in the general market condition of either the geographical area or the industry in which the investee operates. If a qualitative assessment indicates that the investment is impaired, the Company has to estimate the investment’s fair value in accordance with the principles of ASC 820, Fair Value Measurement. If the fair value is less than the investment’s carrying value, the Company recognizes an impairment loss in earnings equal to the difference between the carrying value and fair value. Advertising Costs The Company expenses all advertising costs, which include promotions and branding, as incurred. The Company incurred $209,426 and $203,754 in advertising and marketing costs under selling expenses during the years ended December 31, 2022 and 2021, respectively. Revenue Recognition The Company’s revenue is derived from insurance agency and brokerage services with respect to life insurance and property and casualty insurance products. The Company, through its subsidiaries and variable interest entities, sells insurance products provided by insurance companies to individuals, and is compensated in the form of commissions from the respective insurance companies, according to the terms of each service agreement made by and between the Company and the insurance companies. The core revenue recognition principle under ASC 606, the Company considers the contracts with insurance companies contain one performance obligation and consideration should be recorded when performance obligation is satisfied at point in time. The sale of an insurance product by the Company is considered complete when initial insurance premium is paid by an individual and the insurance policy is approved by the respective insurance company. When a policy is effective, the insurance company is obligated to pay the agreed-upon commission to the Company under the terms of its service agreement with the Company and such commission is recognized as revenue. For the first year commission (FYC), the Company recognizes the revenue when the individuals’ policies are effective. The Company makes the estimation amount to be entitled for annual performance and operating bonus which is based on the FYC. The Company makes an estimation on performance and operation bonus which are based on the accumulated FYC on quarterly basis, and make reconciliation between actual and estimation amount on annual basis. The estimated revenue for the year ended December 31, 2022 and 2021 was approximately $8.7 million and $7.4 million, respectively. Others includes the contingent commissions for subsequent years, the bonus based on persistency ratio bonus, and service allowances, are considered highly susceptible to factors outside the company’s influence and depend on the actions of third parties (i.e., the subsequent premiums paid by individual policyholders), and the uncertainty can be extended for many years. Considering the high uncertainties, the contingent commissions for subsequent years, the bonus based on persistency ratio, and service allowances will be recognized as revenue upon notice of actual amounts from the insurance companies after the uncertain event is resolved. For property and casualty insurance products, the Company recognizes the revenue when the individuals’ policies are effective. The revenue from property and casualty insurance products was 6.3% and 7.2% of the Company’s total revenue for the year ended December 31, 2022 and 2021, respectively. The Company is obligated to pay commissions to its sales professionals when an insurance policy becomes effective. Other than that, there are also bonuses rewarded to sales professionals based on their position and sales performance. The Company recognizes commission revenue granted from insurance companies on a gross basis, and the commissions and bonuses paid to its sales professionals are recognized as cost of revenue. The Company enters into service agreements with insurance companies, which may give rise to contract assets and contract liabilities. When the timing of revenue recognition differs from the timing of payments made by insurance companies, the Company recognizes either contract assets (its performance precedes the billing date) or contract liabilities (customer payment is received in advance of performance). Contract assets represent unbilled amounts resulting from the insurance agency and brokerage services provided by the Company to the insurance companies when the Company has a conditional right to payment once the individuals’ insurance policies are effective. Contract assets are classified as current and the full balance is reclassified to accounts receivables when the right to payment becomes unconditional. The balance of contract assets was insignificant as of December 31, 2022 and 2021. Contract liabilities represents the commissions received upfront from the insurance companies related to services that has not yet been recognized as revenue. The Company classifies contract liabilities as current/noncurrent based on the timing of when the Company expects to recognize revenue. Please refer to Note 19 for contract liabilities in AIATW. The Company generally expenses sales commissions to its sales professionals when incurred because such expenses would be settled within one year or less. These costs are recorded within sales expenses in the consolidated statements of operations and other comprehensive income, as the expenses are settled less than one year and the Company has elected the practical expedient included in ASC 606. For the years ended December 31, 2022 and 2021, the Company recorded revenue of $131,930,218 and $131,363,175, respectively. Disaggregation information of revenue is disclosed in Note 25. Share Based Payment The Company accounts for share-based payment in accordance with ASC Topic 718, Compensation-Stock Compensation. Under the Company’s 2017 Long Term Incentive Plan (the “2017 Plan”), up to 10,000,000 shares of the Company’s Common Stock may be granted (the “Share Pool”) provided that 2,000,000 shares of the Share Pool is reserved for issuance to eligible participants such as officers, directors and employees of, and other individuals (including sales agents who are exclusive agents of the Company or its subsidiaries or derive more than 50% of their income from those entities) who provide bona fide services to or for, the Company or any of subsidiaries. There are no awards granted under the 2017 Plan as of and for the years ended December 31, 2022 and 2021. Retirement Plan and Net Periodic Pension Cost Under the Company defined benefit pension plan, net periodic pension cost, which includes service cost, interest cost, expected return on plan assets, amortization of unrecognized net transition obligation and gains or losses on plan assets, is recognized based on an actuarial valuation report. The Company recognizes the funded status of pension plan as an asset or a liability in the consolidated balance sheets. Each overfunded plan is recognized as an asset and each underfunded plan is recognized as a liability. The recognition of prior service costs or credits and net actuarial gains or losses, as well as subsequent changes in the funded status, are recognized as components of accumulated other comprehensive income or loss, net of tax, in shareholders’ equity, until they are amortized as a component of net periodic benefit cost. Income Taxes The Company records income tax expense using the asset-and-liability method of accounting for deferred income taxes. Under this method, deferred taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each year-end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Deferred tax assets are reduced by a valuation allowance if, based on available evidence, it is more likely than not that the deferred tax assets will not be realized. The Company has elected to recognize a tax on global intangible low-taxed income (“GILTI”), which was imposed by the 2017 Tax Cuts and Jobs Act (the “2017 Tax Act”), as tax expense in the period the tax is incurred. When tax returns are filed, it is likely that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest associated with unrecognized tax benefits are classified as interest expense and penalties are classified in selling, general and administrative expenses in the statements of operations and other comprehensive income (loss). Earnings Per Share Basic earnings per common share (“EPS”) is computed by dividing net income attributable to the common shareholders of the Company by the weighted-average number of common shares outstanding. Diluted EPS is computed in the same manner as basic EPS, except the number of shares includes additional common shares that would have been outstanding if potential common shares with a dilutive effect had been issued. As the holders of preferred stock of the Company are entitled to share equally with the holders of common stock, on a per share basis, in such dividends and other distributions of cash, property or shares of stock of the Company as may be declared by the board of directors, the preferred stock is treated as a participating security. When calculating the basic earnings per common share, the two-class method is used to allocate earnings to common stock and participating security as required by FASB ASC Topic 260, “Earnings Per Share.” As of December 31, 2022 and 2021, the Company does not have any potentially dilutive instrument. The following is a reconciliation of the income and share data used in the basic and diluted EPS computations for the years ended December 31, 2022 and 2021 under the two-class method. December 31, 2022 2021 Numerator: Common stock Preferred stock Common stock Preferred stock Allocation of net income attributable to the Company $ 10,746,337 $ 354,826 $ 6,026,550 $ 203,571 Denominator: Weighted average shares of the Company’s common/preferred stock outstanding - basic & diluted 30,286,199 1,000,000 29,604,102 1,000,000 Basic and diluted earnings per share $ 0.355 $ 0.355 $ 0.204 $ 0.204 The participating rights (liquidation and dividend rights) of the holders of the Company’s common stock and preferred stock are identical, except with respect to voting right (Note 16). As a result, and in accordance with ASC 260, the undistributed earnings for each year are allocated based on the contractual participation rights of the common stock and preferred stock as if the earnings for the year had been distributed. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis. Concentration of Credit Risk The Company maintains cash and cash equivalents with banks in the USA, the PRC, Hong Kong, and Taiwan. Should any bank holding the Company’s cash become insolvent, or if the Company is otherwise unable to withdraw funds, the Company would lose all or part of its cash deposit with that bank; however, the Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank accounts. In Taiwan, a depositor has up to NTD 3,000,000 insured by Central Deposit Insurance Corporation (“CDIC”). In China, a depositor has up to RMB 500,000 insured by the People’s Bank of China Financial Stability Bureau (“FSD”). In Hong Kong, a depositor has up to HKD 500,000 insured by Hong Kong Deposit Protection Board (“DPB”). In the United States, the standard insurance amount is $250,000 per depositor in a bank insured by the Federal Deposit Insurance Corporation (“FDIC”). Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents, time deposits, restricted cash, register capital deposits and accounts receivable. As of December 31, 2022, and 2021, approximately $2,356,000 and $2,712,000 of the Company’s cash and cash equivalents, time deposits, restricted cash, and register capital deposits held by financial institutions, was insured, and the remaining balance of approximately $93,337,000 and $83,446,000, was not insured. With respect to accounts receivable, the Company generally does not require collateral and does not have collectability concern. For the years ended December 31, 2022 and 2021, the Company earns commission revenues from an insurance company individually more than 10% of the total revenue of the Company were: Years Ended December 31, 2022 2021 % of Total % of Total Amount Revenue Amount Revenue TransGlobe Life Insurance Inc. $ 38,397,745 29 % $ 33,579,165 26 % Taiwan Life Insurance Co., Ltd. 18,363,419 14 % 24,626,829 19 % Farglory Life Insurance Co., Ltd. 15,972,048 12 % 16,676,479 13 % As of December 31, 2022, and 2021, the Company’s accounts receivable due from an insurance company individually accounted more than 10% of the total accounts and notes receivable were: December 31, 2022 2021 % of Total % of Total Accounts Accounts Amount Receivable Amount Receivable TransGlobe Life Insurance Inc. $ 8,770,151 32 % $ 8,569,590 32 % Taiwan Life Insurance Co., Ltd. 3,588,639 13 % 4,483,343 17 % Farglory Life Insurance Co., Ltd. 3,266,442 12 % 2,729,673 10 % The Company’s operations are in Taiwan, the PRC, and Hong Kong. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic, foreign cu

DISPOSAL OF NONFINANCIAL ASSETS

DISPOSAL OF NONFINANCIAL ASSETS IN SUBSIDIARY, JIANGSU LAW	12 Months Ended
DISPOSAL OF NONFINANCIAL ASSETS IN SUBSIDIARY, JIANGSU LAW	Dec. 31, 2022
DISPOSAL OF NONFINANCIAL ASSETS IN SUBSIDIARY, JIANGSU LAW
DISPOSAL OF NONFINANCIAL ASSETS IN SUBSIDIARY, JIANGSU LAW	NOTE 3 – DISPOSAL OF NONFINANCIAL ASSETS IN SUBSIDIARY, JIANGSU LAW On February 25, 2022, Law Anhou Insurance Agency Co., Ltd. (“Anhou”), a contractually controlled entity of CUII entered into a Share Purchase Agreement with Jiangsu Law Insurance Brokerage Co., Ltd. (“Jiangsu Law”) and third-party buyers, pursuant to which Anhou shall sell and transfer 100% of its equity ownership in Jiangsu Law, a wholly owned subsidiary of Anhou, for a total consideration of $3,262,890 (or RMB 21 million) to the following buyers: Xuzhou Guosheng Furui Asset Management Co., Ltd., Jiangsu Zhongbozhixin Financial Service Outsourcing Co., Ltd., and Xuzhou Xinrui Service Outsourcing Co., Ltd. Jiangsu Law holds an insurance agency license. The Company evaluated that such disposal does not meet the criteria for discontinued operations because it does not represent a strategic shift that has a major effect on the Company’s operations and financial results. The Share Purchase Agreement provided that the accounts receivables and unfulfilled contracts of Jiangsu Law are transferred to Anhou and all debts and liabilities of Jiangsu Law are assumed by Anhou. In addition, the Share Purchase Agreement also provides that Anhou and Jiangsu Law are responsible for the arrangement of employees of Jiangsu Law. As a result, Jiangsu Law shall retain its insurance agency license as the only asset transferred to the third-party buyers. Further, for the maintenance of insurance agency license, there is a new requirement effective February 2022 by the local authorities to make additional capital contribution to Jiangsu Law, which will be provided by the third-party buyers according to the Share Purchase Agreement. The cost to sell this insurance agency license was immaterial. On July 28, 2022, the Hsuchow Regulatory Bureau of the China Banking and Insurance Regulatory Commission (the “CBIRC Hsuchow Regulatory Bureau”) approved the change of shareholders of Jiangsu Law from Anhou to the aforementioned third-party buyers and accordingly, Anhou lost control over Jiangsu Law that holds the insurance agency license under ASC 810. In the meantime, the Company recognized a gain of $3,262,890 from the disposal of the insurance agency license under ASC 610-20, which was included in income from operations. The Company also recognized the severance payments of $627,407 under operating expenses in 2022 related to the disposal of Jiangsu Law.

CASH, CASH EQUIVALENTS AND REST

CASH, CASH EQUIVALENTS AND RESTRICTED CASH	12 Months Ended
CASH, CASH EQUIVALENTS AND RESTRICTED CASH	Dec. 31, 2022
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
CASH, CASH EQUIVALENTS AND RESTRICTED CASH	NOTE 4 – CASH, CASH EQUIVALENTS AND RESTRICTED CASH Cash, cash equivalents and restricted cash consisted of the following as of December 31, 2022 and 2021: December 31, 2022 2021 Cash and cash equivalents: Cash on hand and in banks $ 25,557,582 $ 18,234,350 Restricted cash – noncurrent 7,679 88,282 Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 25,565,261 $ 18,322,632 Noncurrent restricted cash includes a trust account held for bonus accrued for officers and a mandatory deposit in the bank in conformity with Provisions of the Supervision and Administration of Specialized Insurance Agencies in PRC, which is not allowed to be withdrawn without the permission of such Agencies.

TIME DEPOSITS

TIME DEPOSITS	12 Months Ended
TIME DEPOSITS	Dec. 31, 2022
TIME DEPOSITS
TIME DEPOSITS	NOTE 5 – TIME DEPOSITS Time deposits are short-term bank deposits with maturities of more than three months but less than one year at the date of origination and consisted of the following: December 31, 2022 2021 Total time deposits $ 75,462,846 $ 71,161,391 Less: time deposits – original maturities less than three months under cash and cash equivalents (8,492,887) (6,862,215) Time deposits – original maturities over three months but less than one year $ 66,969,959 $ 64,299,176 The deposits are presented at their cost, including accrued interest. The deposits bear annual interest rates ranging from 0.07% to 3.00% and from 0.05% to 2.79% during 2022 and 2021, respectively. Time Deposits Pledged as Collateral The Company had a total of $28,555,418 (NTD 876.2 million) and $23,811,616 (NTD 659.3 million) restricted time deposits, respectively, as of December 31, 2022 and 2021. Time deposits of $32,590 (NTD 1 million) and $36,117 (NTD 1 million) were pledged as collateral for the Company’s credit card as of December 31, 2022 and 2021, respectively. In addition, the Company had time deposits of $28,522,828 and $23,775,499 pledged as collateral for short-term loans, respectively, as of December 31, 2022 and 2021. See Note 12.

MARKETABLE SECURITIES

MARKETABLE SECURITIES	12 Months Ended
MARKETABLE SECURITIES	Dec. 31, 2022
MARKETABLE SECURITIES.
MARKETABLE SECURITIES	NOTE 6 – MARKETABLE SECURITIES Marketable securities, consisted of stock mutual funds, was $816,749 and nil as of December 31, 2022 and 2021, respectively. Realized and unrealized gains (losses) for the years ended December 31, 2022 and 2021 are summarized below: Years Ended December 31, 2022 2021 Net unrealized (losses) gains on marketable securities held $ (214,253) $ — Net realized gains for marketable securities sold — 75,950 Total net (losses) gains recognized in other (expenses) income $ (214,253) $ 75,950 For the years ended December 31, 2022 and 2021, the Company purchased marketable securities of $1,055,665 and $1,727,668, respectively.

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	12 Months Ended
PROPERTY AND EQUIPMENT, NET	Dec. 31, 2022
PROPERTY AND EQUIPMENT, NET
PROPERTY AND EQUIPMENT, NET	NOTE 7 – PROPERTY AND EQUIPMENT, NET Property and equipment consisted of the following, as of December 31, 2022 and 2021: December 31, 2022 2021 Office equipment $ 2,120,052 $ 2,152,239 Office furniture 67,474 97,917 Leasehold improvements 2,286,196 2,415,907 Transportation equipment 155,092 238,202 Other equipment 1,092,413 1,047,134 Total 5,721,227 5,951,399 Less: accumulated depreciation (4,087,111) (3,889,644) Total property and equipment, net $ 1,634,116 $ 2,061,755 Depreciation expense under general and administrative expenses was $977,421 and $1,000,655 for the years ended December 31, 2022 and 2021, respectively.

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET	12 Months Ended
INTANGIBLE ASSETS, NET	Dec. 31, 2022
INTANGIBLE ASSETS, NET
INTANGIBLE ASSETS, NET	NOTE 8 – INTANGIBLE ASSETS, NET As of December 31, 2022 and 2021, the Company’s intangible assets consisted of the following: December 31, 2022 2021 Software $ 2,348,572 $ 2,413,843 Less: accumulated amortization (2,014,606) (2,080,725) Total intangible assets, net $ 333,966 $ 333,118 Estimated future assets amortization as of December 31, 2022 is as follows: Years ending December 31, Amount 2023 $ 125,795 2024 90,202 2025 65,129 2026 43,962 2027 8,878 Thereafter — Total $ 333,966 Amortization expense was $141,224 and $170,088 for the years ended December 31, 2022 and 2021, respectively.

LONG-TERM INVESTMENTS

LONG-TERM INVESTMENTS	12 Months Ended
LONG-TERM INVESTMENTS	Dec. 31, 2022
LONG-TERM INVESTMENTS
LONG-TERM INVESTMENTS	NOTE 9 – LONG-TERM INVESTMENTS As of December 31, 2022 and 2021, the Company’s long-term investments consisted of the following: December 31, 2022 2021 Equity investments under cost method using the measurement alternative $ 1,296,079 $ 1,435,330 REITs 1,039,576 1,261,482 Total long-term investments $ 2,335,655 $ 2,696,812 Equity Investments under Cost Method Using the Measurement Alternative December 31, 2022 December 31, 2021 Investment Investment Investee Ownership Amount Ownership Amount Genius Insurance Broker Co., Ltd (“GIB”) 11.73 % $ 1,252,584 11.73 % $ 1,388,151 Hainan Haoguan Yucheng Technology Service LLP (“HAINAN”) 9.99 % 43,495 9.99 % 47,179 On February 13, 2015, the Company and AHFL, a wholly owned subsidiary of the Company, entered into an acquisition agreement with Mr. Chwan Hau Li, the selling shareholder of GHFL. Subsequent to the acquisition, GHFL became a wholly-owned subsidiary of the Company which in turn holds approximately 15.64% issued and outstanding shares of Genius Insurance Broker Co., Ltd. (“Genius Broker”). Accordingly, the acquisition was accounted for as an asset acquisition of Genius Broker, which is an equity investment under cost method using the measurement alternative acquired by the Company. Further, the equity interest of GIB owned by GIC reduced from 15.64% to 11.73% due to capital increase in 2020 where GIC didn’t subscribe the new shares during the capital increase. A new investee in the investment ownership was due to the Company’s investment in HAINAN in 2021. HAINAN operates projects for insurance platforms, which contain insurance product centralized procurement, share service platform of sub-hierarchy distribution channel, and IoT business requirement. The Company invested HAINAN for RMB 300,000, or 9.99%, to engage in the qualification of supplier membership and distributor membership. The change in carrying value of equity investment between the two years resulted from the fluctuation of exchange rates. The Company received $203,269 and $252,154 dividend income distributed from GIB for the years ended December 31, 2022 and 2021, respectively. REITs REITs are valued based on quoted market prices in the active market of Taiwan. The fair value of REITs as of December 31, 2022 and 2021 were $1,039,576 and $1,261,482, respectively. Unrealized losses included in earnings for assets held at the end of the reporting periods were $101,690 and $81,022 in the consolidated statements of operations for the years ended December 31, 2022 and 2021, respectively. During the years ended December 31, 2022 and 2021, no other-than temporary impairment were recorded related to the long-term investments.

OTHER ASSETS

OTHER ASSETS	12 Months Ended
OTHER ASSETS	Dec. 31, 2022
OTHER ASSETS
OTHER ASSETS	NOTE 10 – OTHER ASSETS December 31, 2022 2021 Trust account $ 2,467,044 $ 2,477,621 Security deposits/Rent deposit 1,043,957 1,095,665 Registered Capital deposit 724,921 1,100,842 Other 130,890 66,512 Total $ 4,366,812 $ 4,740,640 The trust account is lodged with the Company in accordance with the engagement agreement signed with Hui-Hsien Chao (“Ms. Chao”), which represented the performance bonus paid by the Company to Ms. Chao as her service provided as the general manager of Law Broker. The company reserves cash in a trust account held by a financial institution in a form of time deposits. Please refer to Note 23. According to Provisions on the Regulation of Insurance Brokers issued by the China Insurance Regulatory Commission (“CIRC”), the Company should set aside a registered capital deposit which is no less than 5% of its capital. Also, CIRC issued an executive order No.82 in 2016 which indicates the registered capital deposit should be no less than 10% of its capital. Total registered capital deposit lodged in compliance with CIRC’s regulation were RMB 5,000,000 and RMB 7,000,000 ($724,921 and $1,100,842) as of December 31, 2022 and 2021, respectively.

COMMISSION PAYABLE TO SALES PRO

COMMISSION PAYABLE TO SALES PROFESSIONALS	12 Months Ended
COMMISSION PAYABLE TO SALES PROFESSIONALS	Dec. 31, 2022
COMMISSION PAYABLE TO SALES PROFESSIONALS
COMMISSION PAYABLE TO SALES PROFESSIONALS	NOTE 11 – COMMISSION PAYABLE TO SALES PROFESSIONALS Commission payable to professionals consisted of the following as of December 31, 2022 and 2021: December 31, 2022 2021 Taiwan $ 16,018,808 $ 13,793,343 PRC 202,630 210,198 Total commission payable to sales professionals $ 16,221,438 $ 14,003,541 Commission payable to sales professionals are usually settled within twelve months.

SHORT-TERM LOANS

SHORT-TERM LOANS	12 Months Ended
SHORT-TERM LOANS	Dec. 31, 2022
SHORT-TERM LOANS
SHORT-TERM LOANS	NOTE 12 – SHORT-TERM LOANS The Company’s short-term loans consisted of the following as of December 31, 2022 and 2021: December 31, 2022 December 31, 2021 Debt Collateral Debt Collateral Line of Credit Collateral balance value balance value $8.1 million (NTD 250 million) revolving line of credit with Cathay United Bank Company Limited (“CUB”); the loan bears interest at the 1-month TAIBOR rate plus a margin of 0.46% and matures on April 11, 2023. Time deposits $ 6,260,490 $ 6,260,490 $ 9,011,172 $ 9,047,289 $4.0 million revolving line of credit with O-Bank; the loan bears interest at the TAIFX3 rate plus a margin of 0.45% and matures on December 6, 2023. Time deposits 4,000,000 6,221,382 4,000,000 4,984,135 $6.5 million (NTD 200 million) revolving line of credit with E. Sun Bank (“E. Sun”); the loan bears interest at the TAIBOR rate plus a margin of 0.17% and matures on October 7, 2023. Time deposits 3,258,974 3,585,445 — 1,000,000 $3.0 million revolving line of credit with E. Sun Bank (“E. Sun”); the loan bears interest at the TAIFX3 rate plus a margin of 0.4% and matures on October 7, 2023. Time deposits 2,490,000 2,724,462 — — $6.0 million revolving line of credit with Taishin International Bank (“TSIB”); the loan bears interest at the TSIB’s cost of funds plus a margin of 0.65% and matures on May 31, 2023. Time deposits 2,200,000 2,300,000 2,200,000 3,065,801 $2.5 million revolving line of credit with Far Eastern International Bank (“FEIB”); the loan bears interest at the TAIFX3 rate plus a margin of 0.5% and matures on January 13, 2023. Time deposits 2,150,000 2,542,000 1,850,000 2,961,588 $1.5 million revolving line of credit with CTBC Bank Co., Ltd. (“CTBC”); the loan bears interest at the CTBC’s cost of funds plus a negotiated margin on individual case basis and matured on February 28, 2023. Time deposits 650,000 1,630,075 — — $3.3 million (NTD 100 million) revolving line of credit with Far Eastern International Bank (“FEIB”); the loan bears interest at the FEIB’s adjustable rates for loans plus a margin of 0.6% and matures on January 13, 2023. Time deposits — 3,258,974 — — $3 million revolving line of credit with Cathay United Bank Company Limited (“CUB”); the loan bears interest at the 1-month TAIBOR rate plus a margin of 0.6% and matures on April 11, 2023. Time deposits — — — — $3.1 million revolving line of credit with KGI; the loan bears interest at the TAIFX Fixing rate plus a margin of 0.9% and matures on August 17, 2023. Time deposits — — 1,540,000 2,481,926 $6.5 million (NTD 200 million) revolving line of credit with Taishin International Bank (“TSIB”); the loan bears interest at the TSIB’s cost of funds plus a margin of 0.6% and matures on May 31, 2023. Time deposits — — 234,760 234,760 $ 21,009,464 $ 28,522,828 $ 18,835,932 $ 23,775,499 Borrowings under the revolving credit agreements are generally due average 97 days or less. Total interest expenses incurred from the credit facilities were $382,685 and $181,911 for the years ended December 31, 2022 and 2021, respectively.

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES	12 Months Ended
OTHER CURRENT LIABILITIES	Dec. 31, 2022
OTHER CURRENT LIABILITIES
OTHER CURRENT LIABILITIES	NOTE 13 – OTHER CURRENT LIABILITIES Other current liabilities consisted of the following as of December 31, 2022 and 2021: December 31, 2022 2021 Accrued bonus $ 6,230,168 $ 6,645,496 Payroll payable and other benefits 2,143,247 2,188,074 Accrued business tax and tax withholdings 1,964,615 1,903,039 Other accrued expenses 2,255,567 3,260,994 Total other current liabilities $ 12,593,597 $ 13,997,603 Accrued Bonus The Company’s foreign subsidiaries have various bonus plans, which provide cash awards to employees based upon their performance, and had accrued bonus of $3,973,886 and $4,059,901, respectively, related to cash awards to employees as of December 31, 2022 and 2021. The Company has other compensation plans solely provided by Law Broker to its officers. The compensation plans eligible to Law Broker’s officers include a surplus bonus based on a percentage of income after tax and other performance bonuses such as retention and non-competition. For the years ended December 31, 2022 and 2021, the bonus expenses to Law Broker’s officers under the compensation plans were $214,193 and $752,413, respectively. As of December 31, 2022 and 2021, the Company had accrued bonus of $2,256,282 and $2,585,595 payable within next 12 months, related to the compensation plans for Law Broker’s officers. See Note 23 for additional information of agreements with Law Broker’s officers.

OTHER LIABILITIES

OTHER LIABILITIES	12 Months Ended
OTHER LIABILITIES	Dec. 31, 2022
OTHER LIABILITIES
OTHER LIABILITIES	NOTE 14 – OTHER LIABILITIES The Company’s other liabilities consisted of the following as of December 31, 2022 and 2021: December 31, 2022 2021 Due to previous shareholders of AHFL $ 488,846 $ 541,754 Total other liabilities $ 488,846 $ 541,754 Due to Previous Shareholders of AHFL Due to previous shareholders of AHFL is the entire remaining balance payable of the acquisition cost. In March 2021, the Company entered a seventh amendment with the selling shareholders in negotiation with the previous shareholders of AHFL to extend the repayment date to March 31, 2024. As of December 31, 2022 and 2021, the amount due to previous shareholders of AHFL were $488,846 and $541,754, respectively.

POST-EMPLOYMENT BENEFITS

POST-EMPLOYMENT BENEFITS	12 Months Ended
POST-EMPLOYMENT BENEFITS	Dec. 31, 2022
POST-EMPLOYMENT BENEFITS
POST-EMPLOYMENT BENEFITS	NOTE 15 – POST-EMPLOYMENT BENEFITS Defined Benefit Plan The employee pension plan mandated by the Labor Standards Act of the R.O.C. is a defined benefit plan. The pension benefits are disbursed based on the units of service years and average monthly salary prior to retirement according to the Labor Standards Act. Two units per year are awarded for the first 15 years of services while one unit per year is awarded after the completion of the 15th year, the total units will not exceed 45 units. The Company contributes an amount equivalent to 2% of the employees’ total salaries and wages on a monthly basis to the pension fund deposited with the Bank of Taiwan under the name of a pension fund supervisory committee. The pension fund is managed by the government’s designated authorities and therefore is not included in the Company’s consolidated financial statements. For the years ended December 31, 2022 and 2021, total pension expenses of $75,095 and $81,440, respectively, were recognized by the Company. Movements in present value of defined benefit obligation during the year: Years ended December 31, 2022 2021 Defined benefit obligation at beginning of year $ (563,087) $ (487,020) Items recognized as profit or loss: Service cost (75,223) (82,452) Interest cost (3,611) (1,932) Subtotal (78,834) (84,384) Remeasurements recognized in other comprehensive income (loss): Experience adjustments 112,175 15,740 Subtotal 112,175 15,740 Benefits paid — — Exchange effect 54,014 (7,423) Defined benefit obligation at end of year $ (475,732) (563,087) Movements in fair value of plan assets during the year: Years ended December 31, 2022 2021 Beginning balance of fair value of plan assets $ 173,889 $ 168,478 Items recognized as profit or loss: Interest income on plan assets 3,080 2,845 Remeasurements recognized in other comprehensive income: Return on plan assets excluding amounts recognized as interest result 10,601 171 Exchange effect (17,383) 2,395 Fair value of plan assets at end of year $ 170,187 $ 173,889 The actual returns on plan assets of the Company for the years ended December 31, 2022 and 2021 were $13,681 and $3,016, respectively. The defined benefit plan recognized on the consolidated balance sheets is as follows: December 31, 2022 2021 Present value of the defined benefit obligation $ (475,732) $ (563,087) Fair value of plan assets 170,187 173,889 Funded status (305,545) (389,198) Net defined benefit liabilities, noncurrent recognized on the consolidated balance sheets $ (305,545) $ (389,198) Employee pension fund is deposited under a trust administered by the Bank of Taiwan. The expected rate of return on assets is determined based on historical trend and actuaries’ expectations on the assets’ returns in the market over the obligation period. Furthermore, the utilization of the fund is determined by the labor pension fund supervisory committee, which also guarantees the minimum earnings to be no less than the earnings attainable from interest rates offered by local banks for two-year time deposits. The principal underlying actuarial assumptions are as follows: December 31, 2022 2021 Discount rates 1.35 % 0.70 % Rates of future salary increase 2.00 % 2.00 % Expected long-term rates of return on plan assets 2.25 % 2.00 % Expected future benefit payments is as follows: Amount 2023 $ 15,426 2024 14,936 2025 17,039 2026 16,003 2027 16,098 Thereafter 71,198 Present value of future minimum benefit payments $ 150,700 The Company expects to make pension fund contribution of nil in 2023. The weighted-average durations of the defined benefit obligation are 14 and 15 years as of December 31, 2022 and 2021, respectively.

PREFERRED STOCK AND COMMON STOC

PREFERRED STOCK AND COMMON STOCK	12 Months Ended
PREFERRED STOCK AND COMMON STOCK	Dec. 31, 2022
PREFERRED STOCK AND COMMON STOCK
PREFERRED STOCK AND COMMON STOCK	NOTE 16 – PREFERRED STOCK AND COMMON STOCK Preferred Stock The Company had 1,000,000 shares of Series A Preferred Stock (“Series A Stock”) issued and outstanding as of December 31, 2022 and 2021. The Series A Stock has the following rights and preferences: Voting Rights. Series A Board Designee and Board Restriction. Dividends. Liquidation. Conversion Rights. Business Combinations. Fully Paid and Nonassessable. Additional preferred stock may be authorized and issued in the future in connection with acquisitions, financings, or other matters, as the Board of Directors deems appropriate. In the event that the Registrant issues any shares of preferred stock, a certificate of designation containing the rights, privileges and limitations of this series of preferred stock will be filed with the Secretary of the State of Delaware. The effect of this preferred stock designation power is that its Board of Directors alone, subject to Federal securities laws, applicable blue sky laws, and Delaware law, may be able to authorize the issuance of preferred stock which could have the effect of delaying, deferring, or preventing a change in control without further action by its stockholders, and may adversely affect the voting and other rights of the holders of its common stock. Common Stock As of December 31, 2022 and 2021, the Company had outstanding common stock of 30,286,199 shares with amount of $303. On February 13, 2015, the Company and AHFL, a wholly owned subsidiary of the Company, entered into an acquisition agreement with Mr. Chwan Hau Li, the selling shareholder of GHFL. Subsequent to the acquisition, GHFL became a wholly-owned subsidiary of the Company which in turn holds approximately 15.64% issued and outstanding shares of Genius Insurance Broker Co., Ltd. (“Genius Broker”). Accordingly, the acquisition was accounted for as an asset acquisition of Genius Broker, which is an equity investment without readily determinable fair value under the measurement alternative acquired by the Company (Note 9). In addition, pursuant to the acquisition agreement, on the fourth anniversary date of the acquisition, if the guaranteed price per share of Genius Broker is higher than the average price per share of the Company, additional shares of the Company should be issued to Mr. Chwan Hau Li. Such contingent shares issued to Mr. Chwan Hau Li. are accounted for as a contingent liability at inception at the fair value and are further measured at the fair value of contingent liability at each reporting date with the change of fair value recognized in earnings until the contingent liability was settled on August 13, 2021. On August 13, 2021, the Company and AHFL entered into the Amendment 4 to the acquisition agreement (the “Amendment 4”) with Mr. Chwan Hau Li to settle the contingent shares. Pursuant to the Amendment 4, the Company issued Mr. Chwan Hau Li 864,463 shares of the Company’s common stock on October 15, 2021. The corresponding loss for issuing common stocks to Mr. Chwan Hau Li for the year ended December 31, 2021 were $1,106,513 which was recognized under other expenses.

STATUTORY RESERVES

STATUTORY RESERVES	12 Months Ended
STATUTORY RESERVES	Dec. 31, 2022
STATUTORY RESERVES.
STATUTORY RESERVES	NOTE 17 – STATUTORY RESERVES According to Taiwan accounting rules and corporation regulations, the Company’s subsidiaries in Taiwan must appropriate 10% of net income to statutory reserves until the accumulated reserve reaches registered capital. The reserve can be converted into share capital by issuing new shares to existing shareholders in proportion to their shareholding or by increasing the par value of the shares currently held by them, with a limitation that the reserve left is not less than 25% of the registered capital after converting to share capital. As of December 31, 2022 and 2021, the Company had statutory reserves in responding to the regulation requirements in Taiwan in the amount of $12,514,095 and $11,101,064, respectively. Pursuant to the PRC regulations, the Company’s CAE are required to transfer 10% of net profits, as determined under the PRC accounting regulations, to a Statutory Common Reserve Fund (“Reserve Fund”). Appropriation to the Reserve Fund may cease when the fund equals 50% of a company’s registered capital or when a company has accumulated losses. The transfer to this reserve must be made before distribution of dividends to shareholders. The Company’s CAE did not appropriate such reserve due to as the accumulated deficit as of December 31, 2022 and 2021. Under PRC laws and regulations, there are restrictions on the Company’s VIEs with respect to transferring certain of their net assets to the Company either in the form of dividends, loans, or advances. As of December 31, 2022 and 2021, the Company’s restricted net assets were $14,761,369 and $12,182,826, respectively, which included statutory reserves and consolidated net assets of VIEs. Please refer to Note 26 for additional disclosure for VIEs.

NONCONTROLLING INTERESTS

NONCONTROLLING INTERESTS	12 Months Ended
NONCONTROLLING INTERESTS	Dec. 31, 2022
NONCONTROLLING INTERESTS
NONCONTROLLING INTERESTS	NOTE 18 – NONCONTROLLING INTERESTS Noncontrolling interests consisted of the following as of December 31, 2022 and 2021: % of Non- Other controlling December 31, Net Income Comprehensive December 31, Name of Entity Interest 2021 (Loss) Income (Loss) 2022 Law Enterprise 34.05 % $ (676,166) $ (237,604) $ (1,171) $ (914,941) Law Broker 34.05 % 31,016,203 4,829,675 (3,060,114) 32,785,764 Uniwill 50.00 % 48,802 1,424,345 (80,226) 1,392,921 Rays 1.00 % (6,461) (346) — (6,807) PFAL 49.00 % 364,056 (106,221) (562) 257,273 MKI 49.00 % (327,119) (692) — (327,811) Total $ 30,419,315 $ 5,909,157 $ (3,142,073) $ 33,186,399 % of Non- Other Impact from controlling December 31, Net Income Comprehensive Liquidation December 31, Name of Entity Interest 2020 (Loss) Income (Loss) of PA Taiwan 2021 Law Enterprise 34.05 % $ (414,957) $ (264,642) $ 3,433 $ — $ (676,166) Law Broker 34.05 % 25,177,272 5,444,673 394,258 — 31,016,203 Uniwill 50.00 % (421,035) 466,934 2,903 — 48,802 Rays 1.00 % (5,772) (689) — — (6,461) PFAL 49.00 % 423,978 (63,441) 3,519 — 364,056 MKI 49.00 % (732) (161,090) — (165,297) (327,119) PA Taiwan 49.00 % (163,013) 1,102 (3,386) 165,297 — Total $ 24,595,741 $ 5,422,847 $ 400,727 $ — $ 30,419,315

CONTRACTS WITH CUSTOMERS

CONTRACTS WITH CUSTOMERS	12 Months Ended
CONTRACTS WITH CUSTOMERS	Dec. 31, 2022
CONTRACTS WITH CUSTOMERS
CONTRACTS WITH CUSTOMERS	NOTE 19 – CONTRACTS WITH CUSTOMERS Information about accounts receivable and contract liabilities from contracts with customers is as follows: December 31, 2022 2021 Accounts receivable $ 27,562,055 $ 26,761,678 Contract liabilities – current 155,189 — Contract liabilities – noncurrent 1,241,514 — Contract with AIATW On June 10, 2013, AHFL entered into a Strategic Alliance Agreement (the “Alliance Agreement”) with AIA International Limited Taiwan Branch (“AIATW”), the purpose of which is to promote life insurance products provided by AIATW within Taiwan by insurance agencies or brokerage companies affiliated with AHFL or China United. Pursuant to the terms of the Alliance Agreement, AIATW paid AHFL an execution fee, which was recorded as revenue upon fulfilling certain criteria over the original term of the Alliance Agreement from June 1, 2013 to May 31, 2018. From 2014 to 2017, AHFL has entered into three amendments to the Alliance Agreement with AIATW to further revise certain terms and conditions in the Alliance Agreement, including the extension of the expiration date from May 31, 2018 to December 31, 2021. Pursuant to the Third Amendment to the Alliance Agreement (the “Amendment 3”), both AHFL and AIATW agreed to adjust certain terms and conditions set forth in this amendment, some of which included (i) except the first contract year (April 15th, 2013 to September 30th, 2014), the sales target of the alliance between the parties shall be changed to (a) value of new business (“VONB”) and (b) the 13-month persistency ratio; and (ii) AIATW will calculate and recognize the VONB and 13-month persistency ratio each contract year and inform the Company the result; and (iii) the Company agrees to return the basic business promotion fees to AIATW within thirty (30) days of receipt of the notice sent by AIATW if the Company fails to meet the targets set forth in the Amendment 3, AIATW reserves the right to offset such amount against the amount payable by it to the Company; and (iv) upon the termination of the Alliance Agreement and its amendments pursuant to the Section 8.2 of the Alliance Agreement, both parties agreed to calculate the amount to be returned or repaid, as applicable, based on the past and current contract years. The Company shall return the basic business execution fees at NTD 50 million for the first contract year, NTD 35 million for the second contract year, and NTD 33 million for each contract year thereafter within one month after the termination. Accordingly, for the last contract year of 2021, no revenue was recognized because the Company failed to meet the targets set forth in the Amendment 3 and therefore, the Company shall refund the basic business execution fees of NTD 33 million based on the calculation of VONB and 13-month persistency for the same contract period. On May 6, 2022, AIATW issued a formal letter to the Company and agreed to reduce the refund amount of $1,159,039 (NTD 33.0 million) to $807,127 (NTD 23.1 million), for which the Company has paid to AIATW on May 13, 2022. As of December 31, 2022 and 2021, the basic business execution fees of $52,267 and $1,191,858 were payable and recorded under other current liabilities, respectively. On March 15, 2022, AHFL entered into the Fourth Amendment to the Alliance Agreement (the “Amendment 4”), which, among other things, extended the expiration date of the Alliance Agreement to December 31, 2031. Pursuant to Amendment 4, the sales targets for the remaining contract term under the Alliance Agreement shall be changed by reference to (i) the amount of VONB and (ii) the 13-month persistency ratio as set forth therein, provided that to the extent any underlying insurance contract is revoked, invalidated or terminated and premiums are refunded to such policyholder, the amount of the related VONB shall be correspondingly reduced. Amendment 4 provides that AIATW shall pay the strategic alliance business promotion fee of NTD 50 million to AHFL; however, AHFL shall be required to return certain portions of or all of the business promotion fees within thirty (30) days of receipt of notice provided by AIATW if AFHL fails to meet certain goals set in Table 2 and Table 3 of Amendment 4. The primary factor under formula one focuses on the annual and/or accumulated achievement rate(s), while the primary factor under formula two focuses on the 13-month persistency ratio(s), among others. The following table presents the amounts recognized as revenue and refund for each contract year: Contract Revenue Revenue VAT Refund Refund VAT Year Period Execution Fees Amount Amount Amount Amount First 01/01/2022 - 12/31/2022 NTD 5,000,000 NTD 3,234,476 (1) NTD 161,724 NTD 1,527,429 (1) NTD 76,371 Second 01/01/2023 - 12/31/2023 NTD 5,000,000 NTD — NTD — NTD — NTD — Third 01/01/2024 - 12/31/2024 NTD 5,000,000 NTD — NTD — NTD — NTD — Fourth 01/01/2025 - 12/31/2025 NTD 5,000,000 NTD — NTD — NTD — NTD — Fifth 01/01/2026 - 12/31/2026 NTD 5,000,000 NTD — NTD — NTD — NTD — Sixth 01/01/2027 - 12/31/2027 NTD 5,000,000 NTD — NTD — NTD — NTD — Seventh 01/01/2028 - 12/31/2028 NTD 5,000,000 NTD — NTD — NTD — NTD — Eighth 01/01/2029 - 12/31/2029 NTD 5,000,000 NTD — NTD — NTD — NTD — Ninth 01/01/2030 - 12/31/2030 NTD 5,000,000 NTD — NTD — NTD — NTD — Tenth 01/01/2031 - 12/31/2031 NTD 5,000,000 NTD — NTD — NTD — NTD — TOTAL NTD 50,000,000 NTD 3,234,476 NTD 161,724 NTD 1,527,429 NTD 76,371 1) The Company estimated VONB and 13-month persistency ratio for the year ending December 31, 2022 and calculated the revenue amount to be $108,594 (NTD 3,234,476 ) for the year. The amount will be reassessed every quarter until receiving AIATW’s notice. The Company recognized the revenue related to AIATW of $108,594 (NTD 3,234,476) and nil, net of VAT, for the years ended December 31, 2022 and 2021, respectively. As of December 31, 2022 and 2021, the Company had $1,241,514 and nil of non-current portion of contract liabilities, respectively, and current contract liabilities of $155,189 and nil, respectively, related to the Alliance Agreement.

LEASE

LEASE	12 Months Ended
LEASE	Dec. 31, 2022
LEASE
LEASE	NOTE 20 – LEASE The Company has operating leases for its offices with lease terms ranging from one Operating lease right-of-use 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. As of December 31, 2022 and 2021, operating lease right-of-use assets and lease liabilities were as follows: December 31, 2022 2021 Right-of-use assets under operating leases $ 7,162,373 $ 6,449,182 Operating lease liabilities – current 3,556,295 3,059,329 Operating lease liabilities – noncurrent 3,514,245 3,298,089 Lease Term and Discount Rate December 31, 2022 2021 Weighted average remaining lease term Operating lease 2.54 years 2.31 years Weighted average discount rate Operating lease 2.59 % 2.80 % The minimum future lease payments as of December 31, 2022 are as follows: Amount 2023 $ 3,589,189 2024 2,232,058 2025 879,635 2026 373,297 2027 266,955 Thereafter — Total minimum lease payments 7,341,134 Less: Interest (270,594) Present value of future minimum lease payments $ 7,070,540

INCOME TAX

INCOME TAX	12 Months Ended
INCOME TAX	Dec. 31, 2022
INCOME TAX
INCOME TAX	NOTE 21 – INCOME TAX Provision (benefit) for income taxes for the years ended December 31, 2022 and 2021 consisted of: Years Ended December 31, 2022 2021 Current income provision U.S. Federal $ — $ — U.S. State — — Foreign 4,123,929 4,868,429 $ 4,123,929 $ 4,868,429 Deferred income provision (benefit) U.S. Federal $ — $ — U.S. State — — Foreign (144,520) 126,222 $ (144,520) $ 126,222 Income tax provision $ 3,979,409 $ 4,994,651 Significant components of the deferred tax assets and liabilities for income taxes as of December 31, 2022 and 2021 consisted of the following: December 31, 2022 2021 Deferred tax assets Net operating loss carryforwards $ 1,142,485 $ 1,639,106 Accrued bonus to Law Broker’s officer 406,853 465,047 Unrealized foreign currency exchange loss 48,802 240,898 Social security premium 58,395 50,828 Pension liabilities 70,310 88,037 Compensation cost 78,022 — Others 99,792 64,222 Total $ 1,904,659 $ 2,548,138 Valuation allowance (905,558) (1,639,106) Net deferred tax assets - noncurrent $ 999,101 $ 909,032 Deferred tax liabilities - noncurrent $ — $ — Management determined that it was unlikely that the Company’s deferred tax assets from the net operating loss in the PRC would be realized and provided a full valuation allowance against the deferred tax assets. In the PRC, the net operating losses generated in a tax year can be carryforward for five years. And in Taiwan, the net operating losses generated in a tax year can be carryforward for ten years. The 2017 Tax Act allows the net operating losses generated after December 31, 2017 to be carryforward indefinitely, whereas the operating losses generated in tax years prior to December 31, 2017 can only be carryforward for twenty years. The following table reconciles the Company’s statutory tax rates to effective tax rates for the years ended December 31, 2022 and 2021: Years Ended December 31, 2022 2021 U.S. statutory rate 21 % 21 % Tax rate difference (2) % (2) % Change in valuation allowance for unrecognized tax losses 3 % 7 % Income tax on undistributed earnings 3 % 4 % Non-deductible and non-taxable items (1) % — % Release of valuation allowance (1) % — % Utilization of previously unrecognized tax losses (4) % — % Effective tax rate 19 % 30 % The Company’s income tax expense is mainly generated by its subsidiaries in Taiwan. The Company’s subsidiaries in Taiwan are governed by the Income Tax Law of Taiwan and subject to a statutory tax rate on income reported in the statutory financial statements at 20% and a tax on undistributed earnings at 5%. The Company had no plan to distribute earnings earned for the years ended December 2022 and 2021, and the tax on undistributed earnings on entities in Taiwan of 5% was estimated. As of December 31, 2022 and 2021, the Company had current tax payable of $2,680,703 and $3,703,412 for Taiwan income tax, respectively. The Company regularly assesses the likelihood that the deferred tax assets will be recovered from future taxable income. The Company considers projected future taxable income and then record a valuation allowance to reduce the carrying value of the deferred tax assets to an amount that is more likely than not to be realized. The Company considered cumulative losses arising from Uniwill’s startup costs at the initial stage along with compensation costs in connection with the issuance of preferred stock and maintained a full valuation allowance against Uniwill’s deferred tax assets because insufficient evidence existed to support the realization of any future income tax benefits. Uniwill started operations in 2019 and became profitable because of receiving more trailing commissions since the fiscal year 2021 and obtained the insurance license to sell property and casualty insurance products in 2022. There is no substantial evidence that Uniwill would keep profitable until 2022. As a result, the Company expected future profitability and improved overall prospects of future business. Therefore, the Company released the valuation allowance of $295,324 (NTD 9,061,854) against Uniwill’s deferred tax assets in the year of fiscal 2022. WFOE and the Consolidated Affiliated Entities (“CAE”) in the PRC are governed by the Income Tax Law of PRC concerning private-run enterprises, which are generally subject to tax at 25% on income reported in the statutory financial statements after appropriate adjustments. As of December 31, 2022 and 2021, the Company had no current tax payable for PRC income tax. The Company’s subsidiaries in Hong Kong are governed by the Inland Revenue Ordinance Tax Law and subject to two-tiered profits tax regime. The first HK$2 million assessable profits is taxed at 8.25% and any assessable profits over HK$2 million is taxed at 16.25%. As of December 31, 2022 and 2021, the Company had current tax payable of nil and $9,756 for Hong Kong income tax. The 2017 Tax Act was enacted into law on December 22, 2017 and imposed a mandatory one-time tax on accumulated earnings of foreign subsidiaries, introducing new tax regimes, and changing how foreign earnings are subject to U.S. tax. Based on the Company’s total post-1986 earnings and profits (“E&P”) that it previously deferred from U.S. income taxes, we recorded the one-time transition tax $1,199,195 in eight annual installments for the transition tax on undistributed earnings of non-U.S. subsidiaries during the year ended December 31, 2018. As of December 31, 2022 and 2021, the Company had current tax payable of $239,839 and $179,879, and noncurrent tax payable of $299,797 and $539,636 for U.S. income tax. As of December 31, 2022 and 2021, there was no balance related to uncertain tax position. No significant penalties or interest relating to income taxes have been incurred during the years ended December 31, 2022 and 2021. As of December 31, 2022, the open tax years for Taiwan, US, China ranges from calendar year 2020 to calendar year 2021, 2019 to 2021, and 2019 to 2021, respectively.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2022
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 22 – RELATED PARTY TRANSACTIONS Due to Related Parties The following summarized the Company’s loans payable related parties as of December 31, 2022 and 2021: December 31, 2022 2021 Due to Ms. Lu (A shareholder of Anhou) $ — $ 41,311 Others 53,868 9,220 Total $ 53,868 $ 50,531 Amounts due to Ms. Lu were borrowings from Ms. Lu to support Anhou’s business operation. The amounts were non-interesting bearing and payable on demand. With respect to due to bonus to officers, please refer to Note 13; and due to AHFL previous shareholders, please refer to Note 14. There were no other material related party transactions other than those disclosed above.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2022
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 23 – COMMITMENTS AND CONTINGENCIES Contingencies The Company is not currently a party to any material legal proceedings, investigation or claims. However, the Company may, from time to time, be involved in legal matters arising in the ordinary course of its business. While the Company is not presently subject to any material legal proceedings, there can be no assurance that such matters will not arise in the future or that any such matters in which the Company is involved, or which may arise in the ordinary course of the Company’s business, will not at some point proceed to litigation or that such litigation will not have a material adverse effect on the business, financial condition or results of operations of the Company. Operating Leases See future minimum annual lease payments in Note 20. Time Deposits Pledged as Collateral See time deposits pledged as collateral for short-term loans in Note 12. Appointment Agreement On June 30, 2022, Law Broker entered into an appointment agreement with Shu-Fen, Lee (“Ms. Lee”), pursuant to which, she served and will continue serving as the president of Law Broker from December 21, 2021 to June 29, 2025. Ms. Lee’s primary responsibilities included 1) overall business planning, 2) implementation of resolution of the shareholders’ meeting or the board of directors, 3) the appointment and dismissal of the Law Broker’s employees and sales professionals, except for internal auditors, 4) financial management and application, 5) being the representative of Law Broker, and 6) other matters assigned by the board of directors. According to the appointment agreement, Ms. Lee’s compensation plan included: 1) base salary, 2) managerial allowance, 3) surplus bonus based on 1.25% of Law Broker’s income after tax, and 4) annual year-end bonus. For the year ended December 31, 2022 and 2021, the Company has recorded the compensation expense of $232,784 and $258,200 under the appointment agreement, respectively. Engagement Agreement On December 23, 2021, Law Broker entered into a new engagement agreement with Hui-Hsien Chao (“Ms. Chao”), pursuant to which she served and will continue serving as the general manager of Law Broker from December 23, 2021 to December 22, 2024. Ms. Chao’s primary responsibilities are to assist Law Broker in operating and managing insurance agency business. According to the engagement agreement, Ms. Chao’s Bonus plans shall include: 1) execution, 2) long-term service fees and 3) non-competition. The payment of such bonuses will only occur upon satisfaction of certain conditions and subject to the terms in the engagement agreement. Ms. Chao has agreed to act as the general manager or equivalent position of Law Broker for a term of at least three years. For the year ended December 31, 2021, the Company has recorded the performance bonus expense of $494,213 under the engagement agreement.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
FAIR VALUE MEASUREMENTS	Dec. 31, 2022
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	NOTE 24 – FAIR VALUE MEASUREMENTS The following table summarize financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2022 and 2021: December 31, 2022 Fair Value Level 1 Level 2 Level 3 Carrying Value Assets Marketable securities: Equity securities $ 816,749 — — $ 816,749 Long-term investments: REITs 1,039,576 — — $ 1,039,576 Total assets measured at fair value $ 1,856,325 $ — $ — $ 1,856,325 December 31, 2021 Fair Value Level 1 Level 2 Level 3 Carrying Value Assets Long-term investments: REITs $ 1,261,482 — — $ 1,261,482 Total assets measured at fair value $ 1,261,482 $ — $ — $ 1,261,482 The carrying amounts of current financial assets and liabilities in the consolidated balance sheets for cash equivalents, time deposits, and restricted cash equivalents approximate fair value due to the short-term duration of those instruments, which are considered level 2 fair value measurement. Marketable securities and long-term investments in REITs – The fair values of equity securities and REITs were valued based on quoted market prices in active markets.

SEGMENT REPORTING

SEGMENT REPORTING	12 Months Ended
SEGMENT REPORTING	Dec. 31, 2022
SEGMENT REPORTING
SEGMENT REPORTING	NOTE 25 – SEGMENT REPORTING The Company organizes and manages its business as three operating segments by operating geographic areas. The business of WFOE, CU Hong Kong and the CAE in PRC was managed and reviewed as PRC segment. The business of AHFL and its subsidiaries in Taiwan was managed and reviewed as Taiwan segment. The business of PFAL was managed and reviewed as Hong Kong segment. PRC and Taiwan segments retain majority of reported consolidated amounts. The geographical distributions of the Company’s financial information for the years ended December 31, 2022 and 2021 were as follows: Years Ended December 31, 2022 2021 Geographic Areas Revenue Taiwan $ 132,589,410 $ 128,550,812 PRC 3,847,076 5,691,835 Hong Kong 114,278 35,014 Elimination adjustment (4,620,546) (2,914,486) Total revenue $ 131,930,218 $ 131,363,175 Income (loss) from operations Taiwan $ 15,912,640 $ 16,922,939 PRC 1,268,556 (1,109,110) Hong Kong (223,591) (124,185) Elimination adjustment 1,182,363 1,043,411 Total income from operations $ 18,139,968 $ 16,733,055 Non-operating income (expense) Taiwan $ 3,242,205 $ 587,890 PRC 708,576 (86,122) Hong Kong 6,813 3,679 Elimination adjustment (1,107,833) (590,883) Total non-operating income (expense) $ 2,849,761 $ (85,436) Net income (loss) Taiwan $ 15,297,555 $ 12,464,221 PRC 1,855,018 (1,133,760) Hong Kong (216,778) (129,471) Elimination adjustment 74,525 451,978 Total net income $ 17,010,320 $ 11,652,968 The geographical distribution of the Company’s financial information as of December 31, 2022 and 2021 were as follows: December 31, 2022 2021 Geographical Areas Reportable assets Taiwan $ 202,457,009 $ 195,981,770 PRC 12,448,808 12,326,308 Hong Kong 695,662 756,692 Elimination adjustment (76,708,683) (81,283,249) Total reportable assets $ 138,892,796 $ 127,781,521 Long-lived assets Taiwan $ 7,688,684 $ 6,784,644 PRC 1,108,495 1,727,911 Hong Kong 2,217 1,287 Elimination adjustment (2,907) (2,905) Total long-lived assets $ 8,796,489 $ 8,510,937 Capital investment (CAPEX cash flows) Taiwan $ 733,001 $ 595,591 PRC 37,609 79,203 Hong Kong 1,635 154 Elimination adjustment — — Total capital investments $ 772,245 $ 674,948

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	12 Months Ended
VARIABLE INTEREST ENTITIES	Dec. 31, 2022
VARIABLE INTEREST ENTITIES
VARIABLE INTEREST ENTITIES	NOTE 26 –VARIABLE INTEREST ENTITIES The carrying amounts of the assets, liabilities and the results of operations of the VIE and its subsidiaries (i.e., Zhengzhou Zhonglian Hengfu Business Consulting Co., Limited and its subsidiaries) included in the Company’s consolidated balance sheets and statements of comprehensive loss after the elimination of intercompany balances and transactions among VIE and its subsidiaries within the Company are as follows: December 31, (Amount in USD) 2022 2021 ASSETS Current assets Cash and cash equivalents $ 2,131,222 $ 1,001,974 Accounts receivable and notes receivable 387,413 455,884 Other current assets 282,456 120,113 Total current assets 2,801,091 1,577,971 Right-of-use assets under operating leases 968,301 1,528,856 Property and equipment, net 140,194 199,056 Prepaid expenses - intangible assets 63,240 9,377 Long-term investments 43,495 47,179 Restricted cash – noncurrent 327 72,870 Registered capital deposits 724,921 1,100,842 Deferred tax assets — 74,709 Other assets 77,396 83,951 TOTAL ASSETS $ 4,818,965 $ 4,694,811 LIABILITIES Current liabilities Commissions payable to sales professionals $ 202,630 $ 210,198 Other current liabilities 985,559 1,117,738 Due to related parties - Ms. Lu (the shareholder of Anhou) — 41,311 Total current liabilities 1,188,189 1,369,247 Operating lease liabilities - noncurrent 343,604 908,971 TOTAL LIABILITIES $ 1,531,793 $ 2,278,218 Years ended December 31, (Amount in USD) 2022 2021 Revenue $ 3,847,076 $ 5,691,835 Net income (loss) 1,168,010 (1,030,082) Net cash used in operating activities (1,831,994) (805,285) Net cash provided by (used in) investing activities 3,108,829 (125,572) Net cash used in financing activities (39,042) (38,760) The VIEs contributed $3,847,076 and $5,691,835 of the Company’s consolidated revenue for the years ended December 31, 2022 and 2021, respectively, after elimination of inter-company transactions. As of December 31, 2022, there was no pledge or collateralization of the VIE’s assets that can only be used to settle obligations of the VIE, other than the share pledge agreements, restricted cash and registered capital deposits. Other than the amounts due to the Company and its non-VIE subsidiaries (which are eliminated upon consolidation), the creditors of the VIEs’ third-party liabilities did not have recourse to the general credit of the Company in normal course of business. The Company did not provide or intend to provide financial or other supports not previously contractually required to the VIEs during the years presented.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2022
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 27 – SUBSEQUENT EVENTS The Company has evaluated all subsequent events through the date these consolidated financial statements were issued and determine that there were no subsequent events or transactions that require recognition or disclosures in the consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of China United, the subsidiaries and variable interest entity and its subsidiaries as shown in the corporate structure in Note 1. All significant intercompany transactions and balances have been eliminated in the consolidation. The Company consolidates variable interest entities where it has been determined that the Company is the primary beneficiary of those entities’ operations.
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”).
Use of Estimates	Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and footnotes thereto. Actual results may differ from those estimates and assumptions.
Variable Interest Entities	Variable Interest Entities Due to the legal restrictions on foreign ownership and investment in insurance agency and brokerage businesses in China, especially those on qualifications as well as capital requirement of the investors, China United, through its subsidiary, Zhengzhou Zhonglian Hengfu Business Consulting Co., Limited (“WFOE”), entered into Exclusive Business Cooperation Agreement (the “EBCA”), Power of Attorney, Option Agreement, and Share Pledge Agreement (collectively, the “First VIE Agreements”) on January 17, 2011 with Anhou and Anhou original shareholders so as to operate and conduct the insurance agency and brokerage business in the PRC. Pursuant to the EBCA, (a) WFOE has the right to provide Anhou with complete technical support, business support and related consulting services during the term of the EBCA; (b) Anhou agrees to accept all the consultations and services provided by WFOE. Anhou further agrees that unless with WFOE’s prior written consent, during the term of the EBCA, Anhou shall not directly or indirectly accept the same or any similar consultations and/or services provided by any third party and shall not establish similar cooperation relationship with any third party regarding the matters contemplated by the EBCA; (c) within 90 days after the end of each fiscal year Anhou shall pay an amount to WFOE equal to the shortfall, if any, of the aggregate net income of Anhou for such fiscal; (d) WFOE retains all exclusive and proprietary rights and interests in all rights, ownership, interests and intellectual properties arising out of or created during the performance of the EBCA; and (e) the shareholders of Anhou have pledged all of their equity interests in Anhou to WFOE to guarantee Anhou’s performance of its obligations under the EBCA. The term of the EBCA is 10 years and may be extended and determined by WFOE prior to the expiration thereof, and Anhou shall accept such extended term unconditionally. On March 23, 2022, Anhou and WFOE entered into an amendment to the EBCA, pursuant to which the EBCA shall be automatic renewed for successive terms unless WFOE gives a 30-day notice to terminate such agreement, with each term being 10 years. To extend the business within the PRC, Anhou intended to increase its registered capital to RMB 50 million (approximately $ 7 million) to meet the requirement of the China Insurance Regulatory Commission (the “CIRC”) so that it can set up new branches in any province beyond its current operations in China. China United increased the investment in Anhou through various loan agreements with the shareholders of Anhou. The aggregate funding provided by WFOE was RMB 40 million. Due to the capital increase, a series of variable interest agreements (the “Second VIE Agreements”), which include Power of Attorneys, Exclusive Option Agreements, Share Pledge Agreements, were signed on October 24, 2013 and entered in the same form as the First VIE Agreements, other than the change of shareholder names and their respective shareholdings. The First VIE Agreements were terminated by and among WFOE, Anhou and Anhou original shareholders on the same date. The EBCA executed by and between WFOE and Anhou on January 17, 2011 remains in full effect. As a result of the Second VIE Agreements, WFOE is considered the primary beneficiary of Anhou and has effective control over Anhou. Accordingly, the results of operations, assets and liabilities of Anhou and its subsidiaries (collectively, the “Consolidated Affiliated Entities” or the “CAE”) are consolidated from the earliest period presented. The Company reviews the VIE’s status on an annual basis and determines if any events have occurred that could cause its primary beneficiary status to change, which include (a) the legal entity’s governing documents or contractual arrangements are changed in a manner that changes the characteristics or adequacy of the legal entity’s equity investment at risk; (b) the equity investment or some part thereof is returned to the equity investors, and other interests become exposed to expected losses of the legal entity; (c) the legal entity undertakes additional activities or acquires additional assets, beyond those anticipated at the later of the inception of the entity or the latest reconsideration event, that increase the entity’s expected losses; and (d) the legal entity receives an additional equity investment that is at risk, or the legal entity curtails or modifies its activities in a way that decreases its expected losses. For the years ended December 31, 2022 and 2021, no event taken place that would change the Company’s primary beneficiary status. It is uncertain whether any new PRC laws or regulations relating to variable interest entity structures will be adopted or if adopted, what they would provide. PRC regulatory authorities could disallow this structure, which would materially adversely affect our operations in China and could cause the value of our securities to significantly decline or become worthless.
Noncontrolling Interests	Noncontrolling Interests Noncontrolling interests represent amounts related to majority-owned subsidiaries in which the Company has a controlling financial interest. The amount of noncontrolling interest is consisted of the amount of such interests at the date of the Company's original acquisition of an equity interest and the noncontrolling holders’ percentage share of income or losses from the subsidiaries.
Disposal of Subsidiary	Disposal of Subsidiary A disposal of a subsidiary is categorized as a discontinued operation as provided by ASC Topic 205-20, Presentation of Financial Statements - Discontinued Operations, if the disposal group is a component of an entity or group of components that meets the held for sale criteria, is disposed of by sale, or is disposed of other than by sale, and represents a strategic shift that has or will have a major effect on an entity’s operations and financial results. The Company deconsolidates the accounts of a subsidiary as provided by ASC Topic 810, Consolidation, once the Company ceases to have a controlling interest in a subsidiary. The aggregate of the fair value of consideration received, the fair value of any retained noncontrolling investment and the carrying amount of the former subsidiary’s assets and liabilities are recognized as a gain or loss on disposition. If the transaction involves the sale of an ownership interest in a subsidiary and if substantially all of the fair value of the assets in that subsidiary promised to the counterparty is concentrated in nonfinancial assets, the financial assets in that subsidiary are in substance nonfinancial assets (ISNFA) and are accounted for under ASC 610-20, where the gain or loss recognized upon the derecognition of a nonfinancial asset or an ISNFA is the difference between the amount of consideration measured and allocated to that distinct asset and the carrying amount of the distinct asset.
Foreign Currency Transactions	Foreign Currency Transactions China United’s financial statements are presented in U.S. dollars ($), which is the China United’s reporting and functional currency. The functional currencies of the China United’s subsidiaries are New Taiwan dollar (“NTD”), China yuan (“RMB”) and Hong Kong dollar (“HKD”). Each subsidiary maintains its financial records in its own functional currency. Transactions denominated in foreign currencies are measured at the exchange rates prevailing on the transaction dates. Monetary assets and liabilities denominated in foreign currencies are remeasured at the exchange rates prevailing at the balance sheet date. Non-monetary items that are measured in terms of historical cost in foreign currency are remeasured using the exchange rates at the dates of the initial transactions. Exchange gains and losses are included in the consolidated statements of operations. The Company translates the assets and liabilities into U.S. dollars using the rate of exchange prevailing at the balance sheet date and the statements of operations and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation from NTD, RMB and HKD into U.S. dollars are recorded in stockholders’ equity as part of accumulated other comprehensive income. Cash flows were also translated at average translation rates for the period and, therefore, amounts reported on the statement of cash flows would not necessarily agree with changes in the corresponding balances on the consolidated balance sheet. The exchange rates used for consolidated financial statements are as follows: Average Rate for the Years Ended December 31, 2022 2021 Taiwan dollar (NTD) NTD 29.78510 NTD 27.91940 China yuan (RMB) RMB 6.72838 RMB 6.44995 Hong Kong dollar (HKD) HKD 7.83026 HKD 7.77225 United States dollar ($) $ 1.00000 $ 1.00000 Exchange Rate at December 31, 2022 2021 Taiwan dollar (NTD) NTD 30.68450 NTD 27.68785 China yuan (RMB) RMB 6.89730 RMB 6.35877 Hong Kong dollar (HKD) HKD 7.80776 HKD 7.79713 United States dollar ($) $ 1.00000 $ 1.00000 Fair Value Measurement Fair value accounting establishes a framework for measuring fair value and expands disclosure about fair value measurements. Fair value, which is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. This framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows: -Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. -Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liabilities, either directly or indirectly, for substantially the full term of the financial instruments. -Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. In determining the appropriate levels, the Company performs a detailed analysis of the assets and liabilities that are measured and reported on a fair value basis. At each reporting period, all assets and liabilities for which the fair value measurement is based on significant unobservable inputs are classified as Level 3.
Fair Value Measurement	Fair Value Measurement Fair value accounting establishes a framework for measuring fair value and expands disclosure about fair value measurements. Fair value, which is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. This framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows: -Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. -Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liabilities, either directly or indirectly, for substantially the full term of the financial instruments. -Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. In determining the appropriate levels, the Company performs a detailed analysis of the assets and liabilities that are measured and reported on a fair value basis. At each reporting period, all assets and liabilities for which the fair value measurement is based on significant unobservable inputs are classified as Level 3.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash in banks, bank deposits, and highly liquid investments with maturities of three months or less at the date of origination.
Restricted Cash	Restricted Cash Restricted cash represent amounts held in banks by the Company in conformity with Provisions of the Supervision and Administration of Specialized Insurance Agencies by the CIRC and a trust account held for bonus accrued for officers.
Time Deposits	Time Deposits Time deposits are short-term bank deposits with maturities of more than three months but less than one year at the date of origination.
Marketable Securities	Marketable Securities The Company invests part of its excessive cash in equity securities. Marketable securities represent trading securities bought and held primarily for sale in the near-term to generate income on short-term price differences and are stated at fair value. Realized and unrealized gains and losses are recorded in other income (expense).
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable includes commission receivables stated at net realizable values. The Company reviews its accounts receivable regularly to determine if a bad debt allowance is necessary at each quarter-end. Management reviews the composition of accounts receivable and analyzes the age of receivables outstanding, customer concentrations, customer credit worthiness, current economic trends and changes in customer payment patterns to evaluate the necessity of making such allowance. No allowance was deemed necessary as of December 31, 2022 and 2021.
Property and Equipment	Property and Equipment Property and equipment are stated at cost, less accumulated depreciation. Expenditures for improvements are capitalized; repairs and maintenance are charged to expense as incurred. Upon sale or retirement, the cost and related accumulated depreciation are removed from the accounts and any gain or loss is recorded in other income (expense). Depreciation of office equipment, office furniture, transportation equipment and other equipment is computed using straight-line method based on estimated useful lives with estimated salvage value. The estimated useful lives for office equipment, office furniture, transportation equipment and other equipment are three three
Intangible Assets	Intangible Assets For internally developed software, costs incurred in the development phase are capitalized and amortized over the product’s estimated useful life. All costs incurred that relate to planning and post implementation phases of development are expensed. Development phase costs generally include salaries and personnel costs and third-party contractor expenses associated with software development, configuration and coding. Capitalized costs related to internally developed software under development are treated as construction in progress until the program, feature or functionality is ready for its intended use, at which time amortization commences. The Company did not capitalize any expenditure related to internally developed software for the period 2022 and 2021.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company reviews the carrying values of the long-lived assets when circumstances warrant as to whether the carrying value has become impaired. The Company considers assets to be impaired if the carrying value of an asset exceeds the present value of future net undiscounted cash flows from its related operations. There was no impairment recognized for the years ended December 31, 2022 and 2021.
Long-Term Investments	Long-Term Investments Long-term investments include investment in real estate investment trusts (“REITs”) measured at fair value through net income, and equity investments using cost method under the measurement alternative. Available-for-sale investments are carried at fair value and unrealized gains and losses as a result of changes in the fair value are recorded as a separate component within accumulated other comprehensive income (loss) in the accompanying consolidated balance sheets. The Company evaluates its available-for-sale debt securities to assess whether those with unrealized loss positions are other-than-temporarily impaired. Impairments are considered to be other-than-temporary if they are related to deterioration in credit risk or if it is likely that the Company will sell the securities before the recovery of its cost basis. Realized gains and losses and declines in value judged to be other-than-temporary are determined based on the specific identification method and are reported in other income (expense) in the consolidated statements of comprehensive loss. The Company measures equity investments in companies that do not have a readily determinable fair value in which it holds an interest of less than 20% using cost method under the measurement alternative, which is defined as cost, less any impairments, a plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer, if any. Significant judgments are required to determine (i) whether observable price changes are orderly transactions and identical or similar to an investment held by the Company; and (ii) the selection of appropriate valuation methodologies and underlying assumptions, including expected volatility and the probability of exit events as it relates to liquidation and redemption features used to measure the price adjustments for the difference in rights and obligations between instruments. For equity investments measured at fair value with changes in fair value recorded in earnings, the Company does not assess whether those securities are impaired. For equity investments that the Company elects to use the measurement alternative, the Company makes a qualitative assessment considering impairment indicators to evaluate whether investments are impaired at each reporting date. Impairment indicators considered include, but are not limited to, a significant deterioration in the earnings performance or business prospects of the investee, including factors that raise significant concerns about the investee’s ability to continue as a going concern, a significant adverse change in the regulatory, economic, or technologic environment of the investee and a significant adverse change in the general market condition of either the geographical area or the industry in which the investee operates. If a qualitative assessment indicates that the investment is impaired, the Company has to estimate the investment’s fair value in accordance with the principles of ASC 820, Fair Value Measurement. If the fair value is less than the investment’s carrying value, the Company recognizes an impairment loss in earnings equal to the difference between the carrying value and fair value.
Advertising Costs	Advertising Costs The Company expenses all advertising costs, which include promotions and branding, as incurred. The Company incurred $209,426 and $203,754 in advertising and marketing costs under selling expenses during the years ended December 31, 2022 and 2021, respectively.
Revenue Recognition	Revenue Recognition The Company’s revenue is derived from insurance agency and brokerage services with respect to life insurance and property and casualty insurance products. The Company, through its subsidiaries and variable interest entities, sells insurance products provided by insurance companies to individuals, and is compensated in the form of commissions from the respective insurance companies, according to the terms of each service agreement made by and between the Company and the insurance companies. The core revenue recognition principle under ASC 606, the Company considers the contracts with insurance companies contain one performance obligation and consideration should be recorded when performance obligation is satisfied at point in time. The sale of an insurance product by the Company is considered complete when initial insurance premium is paid by an individual and the insurance policy is approved by the respective insurance company. When a policy is effective, the insurance company is obligated to pay the agreed-upon commission to the Company under the terms of its service agreement with the Company and such commission is recognized as revenue. For the first year commission (FYC), the Company recognizes the revenue when the individuals’ policies are effective. The Company makes the estimation amount to be entitled for annual performance and operating bonus which is based on the FYC. The Company makes an estimation on performance and operation bonus which are based on the accumulated FYC on quarterly basis, and make reconciliation between actual and estimation amount on annual basis. The estimated revenue for the year ended December 31, 2022 and 2021 was approximately $8.7 million and $7.4 million, respectively. Others includes the contingent commissions for subsequent years, the bonus based on persistency ratio bonus, and service allowances, are considered highly susceptible to factors outside the company’s influence and depend on the actions of third parties (i.e., the subsequent premiums paid by individual policyholders), and the uncertainty can be extended for many years. Considering the high uncertainties, the contingent commissions for subsequent years, the bonus based on persistency ratio, and service allowances will be recognized as revenue upon notice of actual amounts from the insurance companies after the uncertain event is resolved. For property and casualty insurance products, the Company recognizes the revenue when the individuals’ policies are effective. The revenue from property and casualty insurance products was 6.3% and 7.2% of the Company’s total revenue for the year ended December 31, 2022 and 2021, respectively. The Company is obligated to pay commissions to its sales professionals when an insurance policy becomes effective. Other than that, there are also bonuses rewarded to sales professionals based on their position and sales performance. The Company recognizes commission revenue granted from insurance companies on a gross basis, and the commissions and bonuses paid to its sales professionals are recognized as cost of revenue. The Company enters into service agreements with insurance companies, which may give rise to contract assets and contract liabilities. When the timing of revenue recognition differs from the timing of payments made by insurance companies, the Company recognizes either contract assets (its performance precedes the billing date) or contract liabilities (customer payment is received in advance of performance). Contract assets represent unbilled amounts resulting from the insurance agency and brokerage services provided by the Company to the insurance companies when the Company has a conditional right to payment once the individuals’ insurance policies are effective. Contract assets are classified as current and the full balance is reclassified to accounts receivables when the right to payment becomes unconditional. The balance of contract assets was insignificant as of December 31, 2022 and 2021. Contract liabilities represents the commissions received upfront from the insurance companies related to services that has not yet been recognized as revenue. The Company classifies contract liabilities as current/noncurrent based on the timing of when the Company expects to recognize revenue. Please refer to Note 19 for contract liabilities in AIATW. The Company generally expenses sales commissions to its sales professionals when incurred because such expenses would be settled within one year or less. These costs are recorded within sales expenses in the consolidated statements of operations and other comprehensive income, as the expenses are settled less than one year and the Company has elected the practical expedient included in ASC 606. For the years ended December 31, 2022 and 2021, the Company recorded revenue of $131,930,218 and $131,363,175, respectively. Disaggregation information of revenue is disclosed in Note 25.
Share Based Payment	Share Based Payment The Company accounts for share-based payment in accordance with ASC Topic 718, Compensation-Stock Compensation. Under the Company’s 2017 Long Term Incentive Plan (the “2017 Plan”), up to 10,000,000 shares of the Company’s Common Stock may be granted (the “Share Pool”) provided that 2,000,000 shares of the Share Pool is reserved for issuance to eligible participants such as officers, directors and employees of, and other individuals (including sales agents who are exclusive agents of the Company or its subsidiaries or derive more than 50% of their income from those entities) who provide bona fide services to or for, the Company or any of subsidiaries. There are no awards granted under the 2017 Plan as of and for the years ended December 31, 2022 and 2021.
Retirement Plan and Net Periodic Pension Cost	Retirement Plan and Net Periodic Pension Cost Under the Company defined benefit pension plan, net periodic pension cost, which includes service cost, interest cost, expected return on plan assets, amortization of unrecognized net transition obligation and gains or losses on plan assets, is recognized based on an actuarial valuation report. The Company recognizes the funded status of pension plan as an asset or a liability in the consolidated balance sheets. Each overfunded plan is recognized as an asset and each underfunded plan is recognized as a liability. The recognition of prior service costs or credits and net actuarial gains or losses, as well as subsequent changes in the funded status, are recognized as components of accumulated other comprehensive income or loss, net of tax, in shareholders’ equity, until they are amortized as a component of net periodic benefit cost.
Income Taxes	Income Taxes The Company records income tax expense using the asset-and-liability method of accounting for deferred income taxes. Under this method, deferred taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each year-end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Deferred tax assets are reduced by a valuation allowance if, based on available evidence, it is more likely than not that the deferred tax assets will not be realized. The Company has elected to recognize a tax on global intangible low-taxed income (“GILTI”), which was imposed by the 2017 Tax Cuts and Jobs Act (the “2017 Tax Act”), as tax expense in the period the tax is incurred. When tax returns are filed, it is likely that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest associated with unrecognized tax benefits are classified as interest expense and penalties are classified in selling, general and administrative expenses in the statements of operations and other comprehensive income (loss).
Earnings Per Share	Earnings Per Share Basic earnings per common share (“EPS”) is computed by dividing net income attributable to the common shareholders of the Company by the weighted-average number of common shares outstanding. Diluted EPS is computed in the same manner as basic EPS, except the number of shares includes additional common shares that would have been outstanding if potential common shares with a dilutive effect had been issued. As the holders of preferred stock of the Company are entitled to share equally with the holders of common stock, on a per share basis, in such dividends and other distributions of cash, property or shares of stock of the Company as may be declared by the board of directors, the preferred stock is treated as a participating security. When calculating the basic earnings per common share, the two-class method is used to allocate earnings to common stock and participating security as required by FASB ASC Topic 260, “Earnings Per Share.” As of December 31, 2022 and 2021, the Company does not have any potentially dilutive instrument. The following is a reconciliation of the income and share data used in the basic and diluted EPS computations for the years ended December 31, 2022 and 2021 under the two-class method. December 31, 2022 2021 Numerator: Common stock Preferred stock Common stock Preferred stock Allocation of net income attributable to the Company $ 10,746,337 $ 354,826 $ 6,026,550 $ 203,571 Denominator: Weighted average shares of the Company’s common/preferred stock outstanding - basic & diluted 30,286,199 1,000,000 29,604,102 1,000,000 Basic and diluted earnings per share $ 0.355 $ 0.355 $ 0.204 $ 0.204 The participating rights (liquidation and dividend rights) of the holders of the Company’s common stock and preferred stock are identical, except with respect to voting right (Note 16). As a result, and in accordance with ASC 260, the undistributed earnings for each year are allocated based on the contractual participation rights of the common stock and preferred stock as if the earnings for the year had been distributed. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis.
Concentration of Risk	Concentration of Credit Risk The Company maintains cash and cash equivalents with banks in the USA, the PRC, Hong Kong, and Taiwan. Should any bank holding the Company’s cash become insolvent, or if the Company is otherwise unable to withdraw funds, the Company would lose all or part of its cash deposit with that bank; however, the Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank accounts. In Taiwan, a depositor has up to NTD 3,000,000 insured by Central Deposit Insurance Corporation (“CDIC”). In China, a depositor has up to RMB 500,000 insured by the People’s Bank of China Financial Stability Bureau (“FSD”). In Hong Kong, a depositor has up to HKD 500,000 insured by Hong Kong Deposit Protection Board (“DPB”). In the United States, the standard insurance amount is $250,000 per depositor in a bank insured by the Federal Deposit Insurance Corporation (“FDIC”). Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents, time deposits, restricted cash, register capital deposits and accounts receivable. As of December 31, 2022, and 2021, approximately $2,356,000 and $2,712,000 of the Company’s cash and cash equivalents, time deposits, restricted cash, and register capital deposits held by financial institutions, was insured, and the remaining balance of approximately $93,337,000 and $83,446,000, was not insured. With respect to accounts receivable, the Company generally does not require collateral and does not have collectability concern. For the years ended December 31, 2022 and 2021, the Company earns commission revenues from an insurance company individually more than 10% of the total revenue of the Company were: Years Ended December 31, 2022 2021 % of Total % of Total Amount Revenue Amount Revenue TransGlobe Life Insurance Inc. $ 38,397,745 29 % $ 33,579,165 26 % Taiwan Life Insurance Co., Ltd. 18,363,419 14 % 24,626,829 19 % Farglory Life Insurance Co., Ltd. 15,972,048 12 % 16,676,479 13 % As of December 31, 2022, and 2021, the Company’s accounts receivable due from an insurance company individually accounted more than 10% of the total accounts and notes receivable were: December 31, 2022 2021 % of Total % of Total Accounts Accounts Amount Receivable Amount Receivable TransGlobe Life Insurance Inc. $ 8,770,151 32 % $ 8,569,590 32 % Taiwan Life Insurance Co., Ltd. 3,588,639 13 % 4,483,343 17 % Farglory Life Insurance Co., Ltd. 3,266,442 12 % 2,729,673 10 % The Company’s operations are in Taiwan, the PRC, and Hong Kong. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic, foreign currency exchange and legal environments in the PRC, Hong Kong and Taiwan, and by the state of each economy. The Company’s results of operations may be adversely affected by changes in the political and social conditions in the PRC, Hong Kong and Taiwan, and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, and rates and methods of taxation, among other things.
Operating Leases	Operating Leases Under ASC 842, Leases, the Company determines if an arrangement is a lease at inception of the contract and whether a contract is or contains a lease by determining whether it conveys the right to control the use of the identified asset for a period of time. If the contract provides us the right to substantially all of the economic benefits from the use of the identified asset and the right to direct the use of the identified asset, we consider it to be, or contain, a lease. The Company records a right-of-use asset and a corresponding lease liability based on the present value of the minimum lease payments. The lease term used in the calculation of right-of-use assets and lease liabilities include renewal and termination options that are reasonably certain to be exercised. Leases with an initial term of twelve months or less are not recorded on the consolidated balance sheet and the related lease expense is recognized on a straight-line basis over the lease term. Our leases do not provide an implicit borrowing rate, and we estimate the Company’s incremental borrowing rate to discount the lease payments based on information available at lease commencement.
Acquisitions	Acquisitions The Company evaluate acquisitions pursuant to ASC 805, Business Combinations, to determine whether the acquisition should be classified as either an asset acquisition or a business combination. Acquisitions for which substantially all of the fair value of the gross assets acquired are concentrated in a single identifiable asset or a group of similar identifiable assets are accounted for as an asset acquisition. The cost of a group of assets acquired in an asset acquisition is allocated to the individual assets acquired or liabilities assumed based on their relative fair values and does not give rise to goodwill. Acquisitions that meet the definition of a business combination are recorded at fair value using a fair value model under which the assets and liabilities are generally recognized at their fair values and the difference between the consideration transferred, excluding transaction costs, and the fair values of the assets and liabilities is recognized as goodwill. For acquisitions that meet the definition of a business combination, we allocate the purchase price of those properties on a fair value basis and expense the acquisitions related transaction costs as incurred. For asset acquisitions and business combinations, we allocate the purchase price to net tangible and identified intangible assets acquired based on their fair values. The Company has incorporated contingent consideration, or earn out provisions, into the structure of its acquisitions. These arrangements may result in the payment of additional purchase price consideration to the sellers based on certain financial thresholds for periods following the closing of the respective acquisition. The additional purchase price consideration is payable in the form of cash and, in some cases, equity. The Company recognizes the fair value of estimated contingent consideration at the acquisition date as part of the consideration transferred in exchange for the acquired business or assets. The contingent consideration is remeasured to fair value at each reporting date until the contingency is resolved. Any changes in fair value are recognized each reporting period in non-cash changes in fair value of estimated contingent consideration in the accompanying consolidated statements of operations.
Contingencies	Contingencies Certain conditions may exist as of the date the financial statements are issued, which could result in a loss to the Company which will be resolved when one or more future events occur or fail to occur. The Company’s management assesses such contingent liabilities, and such assessment inherently involves judgment. In assessing loss contingencies arising from legal proceedings pending against the Company or unasserted claims that may rise from such proceedings, the Company’s management evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought. If the assessment of a contingency indicates it is probable a material loss will be incurred and the amount of the loss can be reasonably estimated, then the estimated loss is accrued in the Company’s financial statements. If the assessment indicates a material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material would be disclosed.
Subsequent event	Subsequent event The Company has evaluated all transactions through the date the consolidated financial statements were issued for subsequent event disclosure consideration.
New Accounting Pronouncements and Other Guidance	New Accounting Pronouncements and Other Guidance New accounting pronouncements not yet adopted Credit Losses In June 2016, the FASB issued ASU No. 2016-13, (FASB ASC Topic 326), Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments which amends the current accounting guidance and requires the use of the new forward-looking “expected loss” model, rather than the “incurred loss” model, which requires all expected losses to be determined based on historical experience, current conditions and reasonable and supportable forecasts. This guidance amends the accounting for credit losses for most financial assets and certain other instruments including trade and other receivables, held-to-maturity debt securities, loans and other instruments. In November 2019, the FASB issued ASU No. 2019-10 to postpone the effective date of ASU No. 2016-13 for public business entities eligible to be smaller reporting companies defined by the SEC to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company believes the adoption of ASU No. 2016-13 has immaterial impact on the Company’s consolidated financial statements. Management does not believe that other than as disclosed above, accounting pronouncements recently issued but not yet adopted will have a material impact on its financial position, results of operations or cash flows.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of exchange rates used for unaudited condensed consolidated financial statements	Average Rate for the Years Ended December 31, 2022 2021 Taiwan dollar (NTD) NTD 29.78510 NTD 27.91940 China yuan (RMB) RMB 6.72838 RMB 6.44995 Hong Kong dollar (HKD) HKD 7.83026 HKD 7.77225 United States dollar ($) $ 1.00000 $ 1.00000 Exchange Rate at December 31, 2022 2021 Taiwan dollar (NTD) NTD 30.68450 NTD 27.68785 China yuan (RMB) RMB 6.89730 RMB 6.35877 Hong Kong dollar (HKD) HKD 7.80776 HKD 7.79713 United States dollar ($) $ 1.00000 $ 1.00000
Schedule of reconciliation of the income and share data used in the basic and diluted EPS computations	December 31, 2022 2021 Numerator: Common stock Preferred stock Common stock Preferred stock Allocation of net income attributable to the Company $ 10,746,337 $ 354,826 $ 6,026,550 $ 203,571 Denominator: Weighted average shares of the Company’s common/preferred stock outstanding - basic & diluted 30,286,199 1,000,000 29,604,102 1,000,000 Basic and diluted earnings per share $ 0.355 $ 0.355 $ 0.204 $ 0.204
Schedule of commission revenues from an insurance company	Years Ended December 31, 2022 2021 % of Total % of Total Amount Revenue Amount Revenue TransGlobe Life Insurance Inc. $ 38,397,745 29 % $ 33,579,165 26 % Taiwan Life Insurance Co., Ltd. 18,363,419 14 % 24,626,829 19 % Farglory Life Insurance Co., Ltd. 15,972,048 12 % 16,676,479 13 %
Schedule of accounts receivable due from an insurance company	December 31, 2022 2021 % of Total % of Total Accounts Accounts Amount Receivable Amount Receivable TransGlobe Life Insurance Inc. $ 8,770,151 32 % $ 8,569,590 32 % Taiwan Life Insurance Co., Ltd. 3,588,639 13 % 4,483,343 17 % Farglory Life Insurance Co., Ltd. 3,266,442 12 % 2,729,673 10 %

CASH, CASH EQUIVALENTS AND RE_2

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	12 Months Ended
CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	Dec. 31, 2022
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Schedule of cash, cash equivalents and restricted cash	December 31, 2022 2021 Cash and cash equivalents: Cash on hand and in banks $ 25,557,582 $ 18,234,350 Restricted cash – noncurrent 7,679 88,282 Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 25,565,261 $ 18,322,632

TIME DEPOSITS (Tables)

TIME DEPOSITS (Tables)	12 Months Ended
TIME DEPOSITS (Tables)	Dec. 31, 2022
TIME DEPOSITS
Schedule of time deposits	December 31, 2022 2021 Total time deposits $ 75,462,846 $ 71,161,391 Less: time deposits – original maturities less than three months under cash and cash equivalents (8,492,887) (6,862,215) Time deposits – original maturities over three months but less than one year $ 66,969,959 $ 64,299,176

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	12 Months Ended
MARKETABLE SECURITIES (Tables)	Dec. 31, 2022
MARKETABLE SECURITIES.
Schedule of realized and unrealized gains (losses)	Years Ended December 31, 2022 2021 Net unrealized (losses) gains on marketable securities held $ (214,253) $ — Net realized gains for marketable securities sold — 75,950 Total net (losses) gains recognized in other (expenses) income $ (214,253) $ 75,950

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	12 Months Ended
PROPERTY AND EQUIPMENT, NET (Tables)	Dec. 31, 2022
PROPERTY AND EQUIPMENT, NET
Schedule of property and equipment	Property and equipment consisted of the following, as of December 31, 2022 and 2021: December 31, 2022 2021 Office equipment $ 2,120,052 $ 2,152,239 Office furniture 67,474 97,917 Leasehold improvements 2,286,196 2,415,907 Transportation equipment 155,092 238,202 Other equipment 1,092,413 1,047,134 Total 5,721,227 5,951,399 Less: accumulated depreciation (4,087,111) (3,889,644) Total property and equipment, net $ 1,634,116 $ 2,061,755

INTANGIBLE ASSETS, NET (Tables)

INTANGIBLE ASSETS, NET (Tables)	12 Months Ended
INTANGIBLE ASSETS, NET (Tables)	Dec. 31, 2022
INTANGIBLE ASSETS, NET
Schedule of company's intangible assets	December 31, 2022 2021 Software $ 2,348,572 $ 2,413,843 Less: accumulated amortization (2,014,606) (2,080,725) Total intangible assets, net $ 333,966 $ 333,118
Schedule of estimated future assets amortization	Estimated future assets amortization as of December 31, 2022 is as follows: Years ending December 31, Amount 2023 $ 125,795 2024 90,202 2025 65,129 2026 43,962 2027 8,878 Thereafter — Total $ 333,966

LONG-TERM INVESTMENTS (Tables)

LONG-TERM INVESTMENTS (Tables)	12 Months Ended
LONG-TERM INVESTMENTS (Tables)	Dec. 31, 2022
LONG-TERM INVESTMENTS
Schedule of company's long-term investments	December 31, 2022 2021 Equity investments under cost method using the measurement alternative $ 1,296,079 $ 1,435,330 REITs 1,039,576 1,261,482 Total long-term investments $ 2,335,655 $ 2,696,812
Schedule of change in carrying value of Equity investments accounted for the cost method	December 31, 2022 December 31, 2021 Investment Investment Investee Ownership Amount Ownership Amount Genius Insurance Broker Co., Ltd (“GIB”) 11.73 % $ 1,252,584 11.73 % $ 1,388,151 Hainan Haoguan Yucheng Technology Service LLP (“HAINAN”) 9.99 % 43,495 9.99 % 47,179

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	12 Months Ended
OTHER ASSETS (Tables)	Dec. 31, 2022
OTHER ASSETS
Schedule of company's other assets	December 31, 2022 2021 Trust account $ 2,467,044 $ 2,477,621 Security deposits/Rent deposit 1,043,957 1,095,665 Registered Capital deposit 724,921 1,100,842 Other 130,890 66,512 Total $ 4,366,812 $ 4,740,640

COMMISSION PAYABLE TO SALES P_2

COMMISSION PAYABLE TO SALES PROFESSIONALS (Tables)	12 Months Ended
COMMISSION PAYABLE TO SALES PROFESSIONALS (Tables)	Dec. 31, 2022
COMMISSION PAYABLE TO SALES PROFESSIONALS
Schedule of commission payable to professionals	December 31, 2022 2021 Taiwan $ 16,018,808 $ 13,793,343 PRC 202,630 210,198 Total commission payable to sales professionals $ 16,221,438 $ 14,003,541

SHORT-TERM LOANS (Tables)

SHORT-TERM LOANS (Tables)	12 Months Ended
SHORT-TERM LOANS (Tables)	Dec. 31, 2022
SHORT-TERM LOANS
Schedule of short-term loans	December 31, 2022 December 31, 2021 Debt Collateral Debt Collateral Line of Credit Collateral balance value balance value $8.1 million (NTD 250 million) revolving line of credit with Cathay United Bank Company Limited (“CUB”); the loan bears interest at the 1-month TAIBOR rate plus a margin of 0.46% and matures on April 11, 2023. Time deposits $ 6,260,490 $ 6,260,490 $ 9,011,172 $ 9,047,289 $4.0 million revolving line of credit with O-Bank; the loan bears interest at the TAIFX3 rate plus a margin of 0.45% and matures on December 6, 2023. Time deposits 4,000,000 6,221,382 4,000,000 4,984,135 $6.5 million (NTD 200 million) revolving line of credit with E. Sun Bank (“E. Sun”); the loan bears interest at the TAIBOR rate plus a margin of 0.17% and matures on October 7, 2023. Time deposits 3,258,974 3,585,445 — 1,000,000 $3.0 million revolving line of credit with E. Sun Bank (“E. Sun”); the loan bears interest at the TAIFX3 rate plus a margin of 0.4% and matures on October 7, 2023. Time deposits 2,490,000 2,724,462 — — $6.0 million revolving line of credit with Taishin International Bank (“TSIB”); the loan bears interest at the TSIB’s cost of funds plus a margin of 0.65% and matures on May 31, 2023. Time deposits 2,200,000 2,300,000 2,200,000 3,065,801 $2.5 million revolving line of credit with Far Eastern International Bank (“FEIB”); the loan bears interest at the TAIFX3 rate plus a margin of 0.5% and matures on January 13, 2023. Time deposits 2,150,000 2,542,000 1,850,000 2,961,588 $1.5 million revolving line of credit with CTBC Bank Co., Ltd. (“CTBC”); the loan bears interest at the CTBC’s cost of funds plus a negotiated margin on individual case basis and matured on February 28, 2023. Time deposits 650,000 1,630,075 — — $3.3 million (NTD 100 million) revolving line of credit with Far Eastern International Bank (“FEIB”); the loan bears interest at the FEIB’s adjustable rates for loans plus a margin of 0.6% and matures on January 13, 2023. Time deposits — 3,258,974 — — $3 million revolving line of credit with Cathay United Bank Company Limited (“CUB”); the loan bears interest at the 1-month TAIBOR rate plus a margin of 0.6% and matures on April 11, 2023. Time deposits — — — — $3.1 million revolving line of credit with KGI; the loan bears interest at the TAIFX Fixing rate plus a margin of 0.9% and matures on August 17, 2023. Time deposits — — 1,540,000 2,481,926 $6.5 million (NTD 200 million) revolving line of credit with Taishin International Bank (“TSIB”); the loan bears interest at the TSIB’s cost of funds plus a margin of 0.6% and matures on May 31, 2023. Time deposits — — 234,760 234,760 $ 21,009,464 $ 28,522,828 $ 18,835,932 $ 23,775,499

OTHER CURRENT LIABILITIES (Tabl

OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
OTHER CURRENT LIABILITIES (Tables)	Dec. 31, 2022
OTHER CURRENT LIABILITIES
Schedule of other current liabilities	December 31, 2022 2021 Accrued bonus $ 6,230,168 $ 6,645,496 Payroll payable and other benefits 2,143,247 2,188,074 Accrued business tax and tax withholdings 1,964,615 1,903,039 Other accrued expenses 2,255,567 3,260,994 Total other current liabilities $ 12,593,597 $ 13,997,603

OTHER LIABILITIES (Tables)

OTHER LIABILITIES (Tables)	12 Months Ended
OTHER LIABILITIES (Tables)	Dec. 31, 2022
OTHER LIABILITIES
Schedule of other noncurrent liabilities	December 31, 2022 2021 Due to previous shareholders of AHFL $ 488,846 $ 541,754 Total other liabilities $ 488,846 $ 541,754

POST-EMPLOYMENT BENEFITS (Table

POST-EMPLOYMENT BENEFITS (Tables)	12 Months Ended
POST-EMPLOYMENT BENEFITS (Tables)	Dec. 31, 2022
POST-EMPLOYMENT BENEFITS
Schedule of movements in present value of defined benefit obligation	Years ended December 31, 2022 2021 Defined benefit obligation at beginning of year $ (563,087) $ (487,020) Items recognized as profit or loss: Service cost (75,223) (82,452) Interest cost (3,611) (1,932) Subtotal (78,834) (84,384) Remeasurements recognized in other comprehensive income (loss): Experience adjustments 112,175 15,740 Subtotal 112,175 15,740 Benefits paid — — Exchange effect 54,014 (7,423) Defined benefit obligation at end of year $ (475,732) (563,087)
Schedule of movements in fair value of plan assets	Years ended December 31, 2022 2021 Beginning balance of fair value of plan assets $ 173,889 $ 168,478 Items recognized as profit or loss: Interest income on plan assets 3,080 2,845 Remeasurements recognized in other comprehensive income: Return on plan assets excluding amounts recognized as interest result 10,601 171 Exchange effect (17,383) 2,395 Fair value of plan assets at end of year $ 170,187 $ 173,889
Schedule of defined benefit plan recognized on the consolidated balance sheets	December 31, 2022 2021 Present value of the defined benefit obligation $ (475,732) $ (563,087) Fair value of plan assets 170,187 173,889 Funded status (305,545) (389,198) Net defined benefit liabilities, noncurrent recognized on the consolidated balance sheets $ (305,545) $ (389,198)
Schedule of principal underlying actuarial assumptions	December 31, 2022 2021 Discount rates 1.35 % 0.70 % Rates of future salary increase 2.00 % 2.00 % Expected long-term rates of return on plan assets 2.25 % 2.00 %
Schedule of expected future benefit payments	Amount 2023 $ 15,426 2024 14,936 2025 17,039 2026 16,003 2027 16,098 Thereafter 71,198 Present value of future minimum benefit payments $ 150,700

NONCONTROLLING INTERESTS (Table

NONCONTROLLING INTERESTS (Tables)	12 Months Ended
NONCONTROLLING INTERESTS (Tables)	Dec. 31, 2022
NONCONTROLLING INTERESTS
Schedule of noncontrolling interests	% of Non- Other controlling December 31, Net Income Comprehensive December 31, Name of Entity Interest 2021 (Loss) Income (Loss) 2022 Law Enterprise 34.05 % $ (676,166) $ (237,604) $ (1,171) $ (914,941) Law Broker 34.05 % 31,016,203 4,829,675 (3,060,114) 32,785,764 Uniwill 50.00 % 48,802 1,424,345 (80,226) 1,392,921 Rays 1.00 % (6,461) (346) — (6,807) PFAL 49.00 % 364,056 (106,221) (562) 257,273 MKI 49.00 % (327,119) (692) — (327,811) Total $ 30,419,315 $ 5,909,157 $ (3,142,073) $ 33,186,399 % of Non- Other Impact from controlling December 31, Net Income Comprehensive Liquidation December 31, Name of Entity Interest 2020 (Loss) Income (Loss) of PA Taiwan 2021 Law Enterprise 34.05 % $ (414,957) $ (264,642) $ 3,433 $ — $ (676,166) Law Broker 34.05 % 25,177,272 5,444,673 394,258 — 31,016,203 Uniwill 50.00 % (421,035) 466,934 2,903 — 48,802 Rays 1.00 % (5,772) (689) — — (6,461) PFAL 49.00 % 423,978 (63,441) 3,519 — 364,056 MKI 49.00 % (732) (161,090) — (165,297) (327,119) PA Taiwan 49.00 % (163,013) 1,102 (3,386) 165,297 — Total $ 24,595,741 $ 5,422,847 $ 400,727 $ — $ 30,419,315

CONTRACTS WITH CUSTOMERS (Table

CONTRACTS WITH CUSTOMERS (Tables)	12 Months Ended
CONTRACTS WITH CUSTOMERS (Tables)	Dec. 31, 2022
CONTRACTS WITH CUSTOMERS
Schedule of accounts receivable and contract liabilities from contracts with customers	December 31, 2022 2021 Accounts receivable $ 27,562,055 $ 26,761,678 Contract liabilities – current 155,189 — Contract liabilities – noncurrent 1,241,514 —
Schedule of recognized of revenue and refund	Contract Revenue Revenue VAT Refund Refund VAT Year Period Execution Fees Amount Amount Amount Amount First 01/01/2022 - 12/31/2022 NTD 5,000,000 NTD 3,234,476 (1) NTD 161,724 NTD 1,527,429 (1) NTD 76,371 Second 01/01/2023 - 12/31/2023 NTD 5,000,000 NTD — NTD — NTD — NTD — Third 01/01/2024 - 12/31/2024 NTD 5,000,000 NTD — NTD — NTD — NTD — Fourth 01/01/2025 - 12/31/2025 NTD 5,000,000 NTD — NTD — NTD — NTD — Fifth 01/01/2026 - 12/31/2026 NTD 5,000,000 NTD — NTD — NTD — NTD — Sixth 01/01/2027 - 12/31/2027 NTD 5,000,000 NTD — NTD — NTD — NTD — Seventh 01/01/2028 - 12/31/2028 NTD 5,000,000 NTD — NTD — NTD — NTD — Eighth 01/01/2029 - 12/31/2029 NTD 5,000,000 NTD — NTD — NTD — NTD — Ninth 01/01/2030 - 12/31/2030 NTD 5,000,000 NTD — NTD — NTD — NTD — Tenth 01/01/2031 - 12/31/2031 NTD 5,000,000 NTD — NTD — NTD — NTD — TOTAL NTD 50,000,000 NTD 3,234,476 NTD 161,724 NTD 1,527,429 NTD 76,371

LEASE (Tables)

LEASE (Tables)	12 Months Ended
LEASE (Tables)	Dec. 31, 2022
LEASE
Schedule of operating lease right-of-use assets and lease liabilities	December 31, 2022 2021 Right-of-use assets under operating leases $ 7,162,373 $ 6,449,182 Operating lease liabilities – current 3,556,295 3,059,329 Operating lease liabilities – noncurrent 3,514,245 3,298,089
Schedule of lease term and discount rate	December 31, 2022 2021 Weighted average remaining lease term Operating lease 2.54 years 2.31 years Weighted average discount rate Operating lease 2.59 % 2.80 %
Schedule of minimum future lease payments	The minimum future lease payments as of December 31, 2022 are as follows: Amount 2023 $ 3,589,189 2024 2,232,058 2025 879,635 2026 373,297 2027 266,955 Thereafter — Total minimum lease payments 7,341,134 Less: Interest (270,594) Present value of future minimum lease payments $ 7,070,540

INCOME TAX (Tables)

INCOME TAX (Tables)	12 Months Ended
INCOME TAX (Tables)	Dec. 31, 2022
INCOME TAX
Schedule of provision (benefit) for income taxes	Years Ended December 31, 2022 2021 Current income provision U.S. Federal $ — $ — U.S. State — — Foreign 4,123,929 4,868,429 $ 4,123,929 $ 4,868,429 Deferred income provision (benefit) U.S. Federal $ — $ — U.S. State — — Foreign (144,520) 126,222 $ (144,520) $ 126,222 Income tax provision $ 3,979,409 $ 4,994,651
Schedule of components of the deferred tax assets and liabilities for income taxes	December 31, 2022 2021 Deferred tax assets Net operating loss carryforwards $ 1,142,485 $ 1,639,106 Accrued bonus to Law Broker’s officer 406,853 465,047 Unrealized foreign currency exchange loss 48,802 240,898 Social security premium 58,395 50,828 Pension liabilities 70,310 88,037 Compensation cost 78,022 — Others 99,792 64,222 Total $ 1,904,659 $ 2,548,138 Valuation allowance (905,558) (1,639,106) Net deferred tax assets - noncurrent $ 999,101 $ 909,032 Deferred tax liabilities - noncurrent $ — $ —
Schedule of reconciles the company's statutory tax rates to effective tax rates	Years Ended December 31, 2022 2021 U.S. statutory rate 21 % 21 % Tax rate difference (2) % (2) % Change in valuation allowance for unrecognized tax losses 3 % 7 % Income tax on undistributed earnings 3 % 4 % Non-deductible and non-taxable items (1) % — % Release of valuation allowance (1) % — % Utilization of previously unrecognized tax losses (4) % — % Effective tax rate 19 % 30 %

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
RELATED PARTY TRANSACTIONS (Tables)	Dec. 31, 2022
RELATED PARTY TRANSACTIONS
Schedule of company's loans payable to related parties	December 31, 2022 2021 Due to Ms. Lu (A shareholder of Anhou) $ — $ 41,311 Others 53,868 9,220 Total $ 53,868 $ 50,531

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	Dec. 31, 2022
FAIR VALUE MEASUREMENTS
Schedule of financial assets and liabilities measured at fair value on a recurring basis	December 31, 2022 Fair Value Level 1 Level 2 Level 3 Carrying Value Assets Marketable securities: Equity securities $ 816,749 — — $ 816,749 Long-term investments: REITs 1,039,576 — — $ 1,039,576 Total assets measured at fair value $ 1,856,325 $ — $ — $ 1,856,325 December 31, 2021 Fair Value Level 1 Level 2 Level 3 Carrying Value Assets Long-term investments: REITs $ 1,261,482 — — $ 1,261,482 Total assets measured at fair value $ 1,261,482 $ — $ — $ 1,261,482

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	12 Months Ended
SEGMENT REPORTING (Tables)	Dec. 31, 2022
SEGMENT REPORTING
Schedule of revenue by major customers by reporting segments	The geographical distributions of the Company’s financial information for the years ended December 31, 2022 and 2021 were as follows: Years Ended December 31, 2022 2021 Geographic Areas Revenue Taiwan $ 132,589,410 $ 128,550,812 PRC 3,847,076 5,691,835 Hong Kong 114,278 35,014 Elimination adjustment (4,620,546) (2,914,486) Total revenue $ 131,930,218 $ 131,363,175 Income (loss) from operations Taiwan $ 15,912,640 $ 16,922,939 PRC 1,268,556 (1,109,110) Hong Kong (223,591) (124,185) Elimination adjustment 1,182,363 1,043,411 Total income from operations $ 18,139,968 $ 16,733,055 Non-operating income (expense) Taiwan $ 3,242,205 $ 587,890 PRC 708,576 (86,122) Hong Kong 6,813 3,679 Elimination adjustment (1,107,833) (590,883) Total non-operating income (expense) $ 2,849,761 $ (85,436) Net income (loss) Taiwan $ 15,297,555 $ 12,464,221 PRC 1,855,018 (1,133,760) Hong Kong (216,778) (129,471) Elimination adjustment 74,525 451,978 Total net income $ 17,010,320 $ 11,652,968
Schedule of long-lived assets	The geographical distribution of the Company’s financial information as of December 31, 2022 and 2021 were as follows: December 31, 2022 2021 Geographical Areas Reportable assets Taiwan $ 202,457,009 $ 195,981,770 PRC 12,448,808 12,326,308 Hong Kong 695,662 756,692 Elimination adjustment (76,708,683) (81,283,249) Total reportable assets $ 138,892,796 $ 127,781,521 Long-lived assets Taiwan $ 7,688,684 $ 6,784,644 PRC 1,108,495 1,727,911 Hong Kong 2,217 1,287 Elimination adjustment (2,907) (2,905) Total long-lived assets $ 8,796,489 $ 8,510,937 Capital investment (CAPEX cash flows) Taiwan $ 733,001 $ 595,591 PRC 37,609 79,203 Hong Kong 1,635 154 Elimination adjustment — — Total capital investments $ 772,245 $ 674,948

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	12 Months Ended
VARIABLE INTEREST ENTITIES (Tables)	Dec. 31, 2022
VARIABLE INTEREST ENTITIES
Schedule of variable interest entities	December 31, (Amount in USD) 2022 2021 ASSETS Current assets Cash and cash equivalents $ 2,131,222 $ 1,001,974 Accounts receivable and notes receivable 387,413 455,884 Other current assets 282,456 120,113 Total current assets 2,801,091 1,577,971 Right-of-use assets under operating leases 968,301 1,528,856 Property and equipment, net 140,194 199,056 Prepaid expenses - intangible assets 63,240 9,377 Long-term investments 43,495 47,179 Restricted cash – noncurrent 327 72,870 Registered capital deposits 724,921 1,100,842 Deferred tax assets — 74,709 Other assets 77,396 83,951 TOTAL ASSETS $ 4,818,965 $ 4,694,811 LIABILITIES Current liabilities Commissions payable to sales professionals $ 202,630 $ 210,198 Other current liabilities 985,559 1,117,738 Due to related parties - Ms. Lu (the shareholder of Anhou) — 41,311 Total current liabilities 1,188,189 1,369,247 Operating lease liabilities - noncurrent 343,604 908,971 TOTAL LIABILITIES $ 1,531,793 $ 2,278,218 Years ended December 31, (Amount in USD) 2022 2021 Revenue $ 3,847,076 $ 5,691,835 Net income (loss) 1,168,010 (1,030,082) Net cash used in operating activities (1,831,994) (805,285) Net cash provided by (used in) investing activities 3,108,829 (125,572) Net cash used in financing activities (39,042) (38,760)

ORGANIZATION AND PRINCIPAL AC_2

ORGANIZATION AND PRINCIPAL ACTIVITIES (Details) ¥ in Millions	Feb. 25, 2022 USD ($)	Feb. 25, 2022 CNY (¥)	Jan. 31, 2022
GIC
ORGANIZATION AND PRINCIPAL ACTIVITIES
Ownership percentage			100%
Jiangsu Law
ORGANIZATION AND PRINCIPAL ACTIVITIES
Percentage of ownership sold and transferred	100	100
Law Anhou
ORGANIZATION AND PRINCIPAL ACTIVITIES
Total consideration	$ 3,262,890	¥ 21
Allife
ORGANIZATION AND PRINCIPAL ACTIVITIES
Percentage of non-controlling interest			100%

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Details)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Details)	Dec. 31, 2022	Dec. 31, 2021
Taiwan dollar (NTD)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Foreign currency average rate translation	29.78510	27.91940
Foreign currency exchange rate translation	30.68450	27.68785
China yuan (RMB)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Foreign currency average rate translation	6.72838	6.44995
Foreign currency exchange rate translation	6.89730	6.35877
Hong Kong dollar (HKD)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Foreign currency average rate translation	7.83026	7.77225
Foreign currency exchange rate translation	7.80776	7.79713
United States dollar ($)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Foreign currency average rate translation	1	1
Foreign currency exchange rate translation	1	1

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2022
Office equipment, office furniture, transportation equipment and other equipment \| Minimum
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Property plant and equipment, useful life	3 years
Office equipment, office furniture, transportation equipment and other equipment \| Maximum
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Property plant and equipment, useful life	5 years
Leasehold improvements \| Minimum
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Property plant and equipment, useful life	3 years
Leasehold improvements \| Maximum
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Property plant and equipment, useful life	10 years

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Share Based Payment (Details) - 2017 Long Term Incentive Plan - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Grants in shares	0	0
Common stock reserved for future issuance	2,000,000
Common Stock
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Grants in shares	10,000,000

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Reconciliation of the income and share data used in the basic and diluted EPS computations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Allocation of net income attributable to the Company	$ 11,101,163	$ 6,230,121
Weighted average shares of the Company's common/preferred stock outstanding - basic	30,286,199	29,604,102
Weighted average shares of the Company's common/preferred stock outstanding - diluted	30,286,199	29,604,102
Earnings per share attributable to common shareholders of the Company:
Basic	$ 0.355	$ 0.204
Diluted	$ 0.355	$ 0.204
Common stock
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Allocation of net income attributable to the Company	$ 10,746,337	$ 6,026,550
Weighted average shares of the Company's common/preferred stock outstanding - basic	30,286,199	29,604,102
Weighted average shares of the Company's common/preferred stock outstanding - diluted	30,286,199	29,604,102
Earnings per share attributable to common shareholders of the Company:
Basic	$ 0.355	$ 0.204
Diluted	$ 0.355	$ 0.204
Preferred stock
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Allocation of net income attributable to the Company	$ 354,826	$ 203,571
Weighted average shares of the Company's common/preferred stock outstanding - basic	1,000,000	1,000,000
Weighted average shares of the Company's common/preferred stock outstanding - diluted	1,000,000	1,000,000
Earnings per share attributable to common shareholders of the Company:
Basic	$ 0.355	$ 0.204
Diluted	$ 0.355	$ 0.204

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenues from an insurance company (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total revenue	$ 131,930,218	$ 131,363,175
Revenues \| Customer concentration \| TransGlobe Life Insurance Inc
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total revenue	$ 38,397,745	$ 33,579,165
Concentration risk percentage	29%	26%
Revenues \| Customer concentration \| Taiwan Life Insurance Co., Ltd
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total revenue	$ 18,363,419	$ 24,626,829
Concentration risk percentage	14%	19%
Revenues \| Customer concentration \| Farglory Life Insurance Co., Ltd.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total revenue	$ 15,972,048	$ 16,676,479
Concentration risk percentage	12%	13%
Revenues \| Customer concentration \| Total revenue
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Concentration risk percentage	10%	10%

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accounts and notes receivable (Details) - Credit concentration - Accounts receivable and contract assets - USD ($)	Dec. 31, 2022	Dec. 31, 2021
TransGlobe Life Insurance Inc
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounts and Notes Receivable	$ 8,770,151	$ 8,569,590
Percentage of accounts receivable	32%	32%
Taiwan Life Insurance Co., Ltd
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounts and Notes Receivable	$ 3,588,639	$ 4,483,343
Percentage of accounts receivable	13%	17%
Farglory Life Insurance Co., Ltd.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounts and Notes Receivable	$ 3,266,442	$ 2,729,673
Percentage of accounts receivable	12%	10%

SUMMARY OF SIGNIFICANT ACCOU_10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional information (Details)		12 Months Ended
	Mar. 23, 2022	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 TWD ($)	Dec. 31, 2022 HKD ($)	Mar. 31, 2022 USD ($)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Notice period terminate agreement	30 days
Increase in registered capital					¥ 50,000,000			$ 7,000,000
Aggregate funding provided by WFOE \| ¥			¥ 40,000,000
Impairment of long-lived assets held-for-use		$ 0		$ 0
Marketing and advertising costs		209,426		203,754
Revenue		$ 131,930,218		131,363,175
Revenue recognize expenses settled period		1 year			1 year	1 year	1 year
Tax benefit percentage expected to be realized upon settlement		50%			50%	50%	50%
Uninsured amount		$ 250,000
FYC
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Revenue		$ 8,700,000		$ 7,400,000
Property and Casualty Insurance Products
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Revenue from products as a percentage		6.30%	6.30%	7.20%
Taiwan
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Revenue		$ 132,589,410		$ 128,550,812
Insured amount						$ 3,000,000
China
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Insured amount \| ¥					¥ 500,000
Hong Kong
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Insured amount							$ 500,000
Credit concentration
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Insured amount		2,356,000		2,712,000
Uninsured amount		$ 93,337,000		$ 83,446,000

DISPOSAL OF NONFINANCIAL ASSE_2

DISPOSAL OF NONFINANCIAL ASSETS IN SUBSIDIARY, JIANGSU LAW (Details) - Jiangsu Law ¥ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Feb. 25, 2022 USD ($)	Feb. 25, 2022 CNY (¥)
DISPOSAL OF NONFINANCIAL ASSETS IN SUBSIDIARY, JIANGSU LAW
Percentage of ownership sold and transferred			100	100
Consideration receivable in Cash			$ 3,262,890	¥ 21
Gain on disposal of subsidiary		$ 3,262,890
Severance payment	$ 627,407

CASH, CASH EQUIVALENTS AND RE_3

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Cash on hand and in banks	$ 25,557,582	$ 18,234,350
Restricted cash - noncurrent	7,679	88,282
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	$ 25,565,261	$ 18,322,632	$ 9,129,828

TIME DEPOSITS (Details)

TIME DEPOSITS (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
TIME DEPOSITS
Total time deposits	$ 75,462,846	$ 71,161,391
Less: time deposits - original maturities less than three months under cash and cash equivalents	(8,492,887)	(6,862,215)
Time deposits - original maturities over three months but less than one year	$ 66,969,959	$ 64,299,176

TIME DEPOSITS - Additional Info

TIME DEPOSITS - Additional Information (Details) $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 TWD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 TWD ($)
TIME DEPOSITS
Restricted time deposits	$ 28,555,418	$ 876.2	$ 23,811,616	$ 659.3
Time deposits pledged as collateral for company's credit card	32,590	$ 1	36,117	$ 1
Time deposits pledged as collateral for short-term loans	$ 28,522,828		$ 23,775,499
Minimum
TIME DEPOSITS
Investment interest rate	0.07%	0.07%	0.05%	0.05%
Maximum
TIME DEPOSITS
Investment interest rate	3%	3%	2.79%	2.79%

MARKETABLE SECURITIES (Details)

MARKETABLE SECURITIES (Details) - USD ($)	12 Months Ended
MARKETABLE SECURITIES (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Marketable Securities, Gains (Losses)
Net unrealized (losses) gains on marketable securities held	$ (214,253)
Net realized gains for marketable securities sold		$ 75,950
Total net (losses) gains recognized in other (expenses) income	(214,253)	75,950
Marketable securities, consisted of stock mutual funds	816,749	0
Purchases of marketable securities	$ 1,055,665	$ 1,727,668

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
PROPERTY AND EQUIPMENT, NET
Total	$ 5,721,227	$ 5,951,399
Less: accumulated depreciation	(4,087,111)	(3,889,644)
Total property and equipment, net	1,634,116	2,061,755
Office equipment
PROPERTY AND EQUIPMENT, NET
Total	2,120,052	2,152,239
Office furniture
PROPERTY AND EQUIPMENT, NET
Total	67,474	97,917
Leasehold improvements
PROPERTY AND EQUIPMENT, NET
Total	2,286,196	2,415,907
Transportation equipment
PROPERTY AND EQUIPMENT, NET
Total	155,092	238,202
Other equipment
PROPERTY AND EQUIPMENT, NET
Total	$ 1,092,413	$ 1,047,134

PROPERTY AND EQUIPMENT, NET - A

PROPERTY AND EQUIPMENT, NET - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property and equipment
PROPERTY AND EQUIPMENT, NET
Depreciation	$ 977,421	$ 1,000,655

INTANGIBLE ASSETS, NET - Summar

INTANGIBLE ASSETS, NET - Summary of Companys intangible assets (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
INTANGIBLE ASSETS, NET
Software	$ 2,348,572	$ 2,413,843
Less: accumulated amortization	(2,014,606)	(2,080,725)
Total	$ 333,966	$ 333,118

INTANGIBLE ASSETS, NET - Summ_2

INTANGIBLE ASSETS, NET - Summary of Estimated future assets amortization (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
INTANGIBLE ASSETS, NET
2023	$ 125,795
2024	90,202
2025	65,129
2026	43,962
2027	8,878
Thereafter	0
Total	$ 333,966	$ 333,118

INTANGIBLE ASSETS, NET - Additi

INTANGIBLE ASSETS, NET - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Intangible assets
INTANGIBLE ASSETS, NET
Amortization expense	$ 141,224	$ 170,088

LONG-TERM INVESTMENTS - Summary

LONG-TERM INVESTMENTS - Summary of company's long-term investments (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
LONG-TERM INVESTMENTS
Equity investments under cost method using the measurement alternative	$ 1,296,079	$ 1,435,330
REITs	1,039,576	1,261,482
Total long-term investments	$ 2,335,655	$ 2,696,812

LONG-TERM INVESTMENTS - Summa_2

LONG-TERM INVESTMENTS - Summary of change in carrying value of equity investments accounted for the cost method (Details)	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2022 CNY (¥)	Aug. 14, 2020	Feb. 13, 2015
LONG-TERM INVESTMENTS
Long-term investment in equity amount	$ 1,296,079	$ 1,435,330
Genius Insurance Broker Co., Ltd ("GIB")
LONG-TERM INVESTMENTS
Investee name	Genius Insurance Broker Co., Ltd (“GIB”)	Genius Insurance Broker Co., Ltd (“GIB”)
Investment Ownership Percentage	11.73%	11.73%	11.73%		15.64%
Long-term investment in equity amount	$ 1,252,584	$ 1,388,151
Genius Insurance Broker Co., Ltd ("GIB") \| Maximum
LONG-TERM INVESTMENTS
Investment Ownership Percentage				15.64%
Genius Insurance Broker Co., Ltd ("GIB") \| Minimum
LONG-TERM INVESTMENTS
Investment Ownership Percentage				11.73%
Hainan Haoguan Yucheng Technology Service LLP ("HAINAN")
LONG-TERM INVESTMENTS
Investee name	Hainan Haoguan Yucheng Technology Service LLP (“HAINAN”)	Hainan Haoguan Yucheng Technology Service LLP (“HAINAN”)
Investment Ownership Percentage	9.99%	9.99%	9.99%
Long-term investment in equity amount	$ 43,495	$ 47,179	¥ 300,000

LONG-TERM INVESTMENTS - Additio

LONG-TERM INVESTMENTS - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
LONG-TERM INVESTMENTS
Real estate investment property	$ 1,039,576	$ 1,261,482
Unrealized losses on investments	101,690	81,022
Temporary impairment related to long term investment	0	0
Genius Insurance Broker Co., Ltd ("GIB")
LONG-TERM INVESTMENTS
Dividend income	$ 203,269	$ 252,154

OTHER ASSETS - Summary of Compa

OTHER ASSETS - Summary of Company's other assets (Details)	12 Months Ended
OTHER ASSETS - Summary of Company's other assets (Details)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CNY (¥)
OTHER ASSETS
Trust account	$ 2,467,044		$ 2,477,621
Security deposits/Rent deposit	1,043,957		1,095,665
Registered Capital deposit	724,921		1,100,842
Other	130,890		66,512
Total	4,366,812		4,740,640
Capital deposit	$ 724,921	¥ 5,000,000	$ 1,100,842	¥ 7,000,000
CIRC
OTHER ASSETS
Percentage of maximum capital deposit	5%
Percentage of maximum capital deposit executive order	10%

COMMISSION PAYABLE TO SALES P_3

COMMISSION PAYABLE TO SALES PROFESSIONALS (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
COMMISSION PAYABLE TO SALES PROFESSIONALS
Commission payable to sales professionals	$ 16,221,438	$ 14,003,541
Taiwan
COMMISSION PAYABLE TO SALES PROFESSIONALS
Commission payable to sales professionals	16,018,808	13,793,343
PRC
COMMISSION PAYABLE TO SALES PROFESSIONALS
Commission payable to sales professionals	$ 202,630	$ 210,198

SHORT-TERM LOANS (Details)

SHORT-TERM LOANS (Details) $ in Millions	12 Months Ended
SHORT-TERM LOANS (Details) $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2022 TWD ($)
SHORT-TERM LOANS
Debt balance	$ 21,009,464	$ 18,835,932
Collateral value	28,522,828	23,775,499
Interest expenses for short-term loans incurred	382,685	181,911
Credit facility, CUB
SHORT-TERM LOANS
Debt balance	6,260,490	9,011,172
Collateral value	6,260,490	9,047,289
Line of credit facility	8,100,000		$ 250
Credit facility, CUB
SHORT-TERM LOANS
Line of credit facility	3,000,000
Credit facility, O-Bank
SHORT-TERM LOANS
Debt balance	4,000,000	4,000,000
Collateral value	6,221,382	4,984,135
Credit facility, TSIB
SHORT-TERM LOANS
Debt balance	2,200,000	2,200,000
Collateral value	2,300,000	3,065,801
Line of credit facility	6,000,000
Credit Facility, FEIB
SHORT-TERM LOANS
Debt balance	2,150,000	1,850,000
Collateral value	2,542,000	2,961,588
Credit facility, FEIB2
SHORT-TERM LOANS
Collateral value	3,258,974
Line of credit facility	$ 3,300,000		100
Percentage of interest on line of credit	0.60%
Credit facility, TSIB 2
SHORT-TERM LOANS
Debt balance		234,760
Collateral value		234,760
Line of credit facility	$ 6,500,000		200
Credit facility, CTBC
SHORT-TERM LOANS
Debt balance	650,000
Collateral value	1,630,075
Credit facility E Sun Bank
SHORT-TERM LOANS
Debt balance	3,258,974
Collateral value	3,585,445	1,000,000
Line of credit facility	$ 6,500,000		$ 200
LIBOR \| Credit facility, TSIB 2
SHORT-TERM LOANS
Percentage of interest on line of credit	0.60%
1 month TAIBOR rate \| Credit facility, CUB
SHORT-TERM LOANS
Percentage of interest on line of credit	0.46%
1 month TAIBOR rate \| Credit facility, CUB
SHORT-TERM LOANS
Percentage of interest on line of credit	0.60%
1 month TAIBOR rate \| Credit facility E Sun Bank
SHORT-TERM LOANS
Percentage of interest on line of credit	0.17%
Cost of funds plus a margin \| Credit facility, TSIB
SHORT-TERM LOANS
Percentage of interest on line of credit	0.65%
O Bank
SHORT-TERM LOANS
Line of credit facility	$ 4,000,000
Percentage of interest on line of credit	0.45%
CTBC Bank
SHORT-TERM LOANS
Line of credit facility	$ 1,500,000
Eastern International Bank
SHORT-TERM LOANS
Line of credit facility	$ 2,500,000
Eastern International Bank \| LIBOR
SHORT-TERM LOANS
Percentage of interest on line of credit	0.50%
KGI Commercial Bank Co Ltd
SHORT-TERM LOANS
Debt balance		1,540,000
Collateral value		$ 2,481,926
Line of credit facility	$ 3,100,000
KGI Commercial Bank Co Ltd \| LIBOR
SHORT-TERM LOANS
Percentage of interest on line of credit	0.90%
E Sun Bank
SHORT-TERM LOANS
Debt balance	$ 2,490,000
Collateral value	2,724,462
Line of credit facility	$ 3,000,000
E Sun Bank \| LIBOR
SHORT-TERM LOANS
Percentage of interest on line of credit	0.40%

OTHER CURRENT LIABILITIES (Deta

OTHER CURRENT LIABILITIES (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
OTHER CURRENT LIABILITIES
Accrued bonus	$ 6,230,168	$ 6,645,496
Payroll payable and other benefits	2,143,247	2,188,074
Accrued business tax and tax withholdings	1,964,615	1,903,039
Other accrued expenses	2,255,567	3,260,994
Total other current liabilities	$ 12,593,597	$ 13,997,603

OTHER CURRENT LIABILITIES - Add

OTHER CURRENT LIABILITIES - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
OTHER LIABILITIES
Accrued bonus amount	$ 3,973,886	$ 4,059,901
Accrued bonus current	6,230,168	6,645,496
Compensation plans
OTHER LIABILITIES
Bonus expense	214,193	752,413
Accrued bonus current	$ 2,256,282	$ 2,585,595

OTHER LIABILITIES (Details)

OTHER LIABILITIES (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
OTHER LIABILITIES
Due to previous shareholders of AHFL	$ 488,846	$ 541,754
Total other liabilities	$ 488,846	$ 541,754

POST-EMPLOYMENT BENEFITS - Summ

POST-EMPLOYMENT BENEFITS - Summary of movements in present value of defined benefit obligation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Defined benefit plan
Defined benefit obligation at beginning of year	$ (563,087)	$ (487,020)
Items recognized as profit or loss:
Service cost	(75,223)	(82,452)
Interest cost	(3,611)	(1,932)
Subtotal	(78,834)	(84,384)
Remeasurements recognized in other comprehensive income (loss):
Experience adjustments	112,175	15,740
Subtotal	112,175	15,740
Exchange effect	54,014	(7,423)
Defined benefit obligation at end of year	$ (475,732)	$ (563,087)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense

POST-EMPLOYMENT BENEFITS - Su_2

POST-EMPLOYMENT BENEFITS - Summary of movements in fair value of plan assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance of fair value of plan assets	$ 173,889	$ 168,478
Items recognized as profit or loss:
Interest income on plan assets	3,080	2,845
Remeasurements recognized in other comprehensive income:
Return on plan assets excluding amounts recognized as interest result	10,601	171
Exchange effect	(17,383)	2,395
Fair value of plan assets at end of year	$ 170,187	$ 173,889

POST-EMPLOYMENT BENEFITS - Sche

POST-EMPLOYMENT BENEFITS - Schedule of defined benefit plan recognized on the consolidated balance sheets (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
POST-EMPLOYMENT BENEFITS
Present value of the defined benefit obligation	$ (475,732)	$ (563,087)	$ (487,020)
Fair value of plan assets	170,187	173,889	$ 168,478
Funded status	(305,545)	(389,198)
Net defined benefit liabilities, noncurrent recognized on the consolidated balance sheets	$ (305,545)	$ (389,198)

POST-EMPLOYMENT BENEFITS - Su_3

POST-EMPLOYMENT BENEFITS - Summary of principal underlying actuarial assumptions (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
POST-EMPLOYMENT BENEFITS
Discount rates	1.35%	0.70%
Rates of future salary increase	2%	2%
Expected long-term rates of return on plan assets	2.25%	2%

POST-EMPLOYMENT BENEFITS - Sc_2

POST-EMPLOYMENT BENEFITS - Schedule of Expected future benefit payments (Details)	Dec. 31, 2022 USD ($)
POST-EMPLOYMENT BENEFITS
2023	$ 15,426
2024	14,936
2025	17,039
2026	16,003
2027	16,098
Thereafter	71,198
Present value of future minimum benefit payments	$ 150,700

POST-EMPLOYMENT BENEFITS (Detai

POST-EMPLOYMENT BENEFITS (Details)	12 Months Ended
POST-EMPLOYMENT BENEFITS (Details)	Dec. 31, 2022 USD ($) item	Dec. 31, 2021 USD ($)
POST-EMPLOYMENT BENEFITS
Maximum number of units awarded \| item	45
Employer contribution, as a percentage of employees total salaries and wages	2%
Total pension expense \| $	$ 75,095	$ 81,440
Actual return on plan assets \| $	13,681	$ 3,016
Pension fund contribution by the company \| $	$ 0
Weighted-average durations of the defined benefit obligation	14 years	15 years
First 15 years of service
POST-EMPLOYMENT BENEFITS
Number of units awarded per year \| item	2
After completion of 15th year
POST-EMPLOYMENT BENEFITS
Number of units awarded per year \| item	1

PREFERRED STOCK AND COMMON ST_2

PREFERRED STOCK AND COMMON STOCK (Details)		12 Months Ended
PREFERRED STOCK AND COMMON STOCK (Details)	Aug. 13, 2021 shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2022 USD ($) Vote shares
PREFERRED STOCK AND COMMON STOCK
Preferred stock, shares outstanding		1,000,000	1,000,000
Preferred stock, shares issued		1,000,000	1,000,000
Number of votes per Share \| Vote			10
Common stock, shares outstanding		30,286,199	30,286,199
Common stock value, issued \| $		$ 303	$ 303
Mr. Chwan Hau Li
PREFERRED STOCK AND COMMON STOCK
Percentage of voting interests acquired			15.64%
Issuable number of shares issued	864,463
Mr. Chwan Hau Li \| Other expenses
PREFERRED STOCK AND COMMON STOCK
Loss for issuing common stocks \| $		$ 1,106,513
Series A Preferred Stock
PREFERRED STOCK AND COMMON STOCK
Preferred stock, shares outstanding		1,000,000	1,000,000
Preferred stock, shares issued		1,000,000	1,000,000

STATUTORY RESERVES - Additional

STATUTORY RESERVES - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
STATUTORY RESERVES
Statutory common reserve, contribution percentage of net income	10%
Statutory common reserve, contribution percentage on net profit	10%
Statutory common reserve limitation minimum percentage on registered capital	25%
Statutory common reserve limitation, maximum percentage on registered capital	50%
Statutory reserves	$ 12,514,095	$ 11,101,064
VIE \| PRC
STATUTORY RESERVES
Restricted investments, at fair value	$ 14,761,369	$ 12,182,826

NONCONTROLLING INTERESTS (Detai

NONCONTROLLING INTERESTS (Details) - USD ($)	12 Months Ended
NONCONTROLLING INTERESTS (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Noncontrolling Interests
Stockholders' equity attributable to noncontrolling interest, Beginning balance	$ 30,419,315	$ 24,595,741
Net Income (Loss)	5,909,157	5,422,847
Other Comprehensive Income (Loss)	(3,142,073)	400,727
Stockholders' equity attributable to noncontrolling interest, Ending balance	$ 33,186,399	30,419,315
Law Enterprise
Schedule Of Noncontrolling Interests
% of Non-controlling Interest	34.05%
Stockholders' equity attributable to noncontrolling interest, Beginning balance	$ (676,166)	(414,957)
Net Income (Loss)	(237,604)	(264,642)
Other Comprehensive Income (Loss)	(1,171)	3,433
Stockholders' equity attributable to noncontrolling interest, Ending balance	$ (914,941)	(676,166)
Law Broker
Schedule Of Noncontrolling Interests
% of Non-controlling Interest	34.05%
Stockholders' equity attributable to noncontrolling interest, Beginning balance	$ 31,016,203	25,177,272
Net Income (Loss)	4,829,675	5,444,673
Other Comprehensive Income (Loss)	(3,060,114)	394,258
Stockholders' equity attributable to noncontrolling interest, Ending balance	$ 32,785,764	31,016,203
Uniwill
Schedule Of Noncontrolling Interests
% of Non-controlling Interest	50%
Stockholders' equity attributable to noncontrolling interest, Beginning balance	$ 48,802	(421,035)
Net Income (Loss)	1,424,345	466,934
Other Comprehensive Income (Loss)	(80,226)	2,903
Stockholders' equity attributable to noncontrolling interest, Ending balance	$ 1,392,921	48,802
Rays
Schedule Of Noncontrolling Interests
% of Non-controlling Interest	1%
Stockholders' equity attributable to noncontrolling interest, Beginning balance	$ (6,461)	(5,772)
Net Income (Loss)	(346)	(689)
Other Comprehensive Income (Loss)	0
Stockholders' equity attributable to noncontrolling interest, Ending balance	$ (6,807)	(6,461)
PFAL
Schedule Of Noncontrolling Interests
% of Non-controlling Interest	49%
Stockholders' equity attributable to noncontrolling interest, Beginning balance	$ 364,056	423,978
Net Income (Loss)	(106,221)	(63,441)
Other Comprehensive Income (Loss)	(562)	3,519
Stockholders' equity attributable to noncontrolling interest, Ending balance	$ 257,273	364,056
MKI
Schedule Of Noncontrolling Interests
% of Non-controlling Interest	49%
Stockholders' equity attributable to noncontrolling interest, Beginning balance	$ (327,119)	(732)
Net Income (Loss)	(692)	(161,090)
Other Comprehensive Income (Loss)	0
Impact from Liquidation of PA Taiwan		(165,297)
Stockholders' equity attributable to noncontrolling interest, Ending balance	$ (327,811)	(327,119)
PA Taiwan
Schedule Of Noncontrolling Interests
% of Non-controlling Interest	49%
Stockholders' equity attributable to noncontrolling interest, Beginning balance		(163,013)
Net Income (Loss)		1,102
Other Comprehensive Income (Loss)		(3,386)
Impact from Liquidation of PA Taiwan		$ 165,297

CONTRACTS WITH CUSTOMERS - Cont

CONTRACTS WITH CUSTOMERS - Contract balance (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
CONTRACTS WITH CUSTOMERS
Accounts receivable	$ 27,562,055	$ 26,761,678
Contract liabilities - current	155,189
Contract liabilities - noncurrent	$ 1,241,514

CONTRACTS WITH CUSTOMERS - Reve

CONTRACTS WITH CUSTOMERS - Revenue and refund for each contract (Details)			12 Months Ended
	Mar. 15, 2022 TWD ($)	Jun. 14, 2017 TWD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 TWD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2022 TWD ($)	May 13, 2022 USD ($)	May 13, 2022 TWD ($)	May 06, 2022 USD ($)	May 06, 2022 TWD ($)
CONTRACT WITH CUSTOMERS
Basic business promotion fees	$ 50,000,000	$ 33,000,000
Revenue amount				$ 3,234,476	$ 0
Contract liabilities - noncurrent			$ 1,241,514
Contract liabilities - current			155,189
Strategic alliance agreement
CONTRACT WITH CUSTOMERS
Execution Fees						$ 50,000,000
Refund amount						1,527,429
Deferred revenue recognized				3,234,476
Refund VAT amount						76,371
Revenue VAT amount				$ 161,724
Strategic alliance agreement
CONTRACT WITH CUSTOMERS
Revenue amount			108,594
Contract liabilities - noncurrent			1,241,514		0
Contract liabilities - current			$ 155,189		0
First year
CONTRACT WITH CUSTOMERS
Basic business promotion fees		50,000,000
First year \| Strategic alliance agreement
CONTRACT WITH CUSTOMERS
Contract initiation date			Jan. 01, 2022	Jan. 01, 2022
Contract maturity date			Dec. 31, 2022	Dec. 31, 2022
Execution Fees						5,000,000
Refund amount						1,527,429
Deferred revenue recognized				$ 3,234,476
Refund VAT amount						76,371
Revenue VAT amount				$ 161,724
Second year
CONTRACT WITH CUSTOMERS
Basic business promotion fees		$ 35,000,000
Second year \| Strategic alliance agreement
CONTRACT WITH CUSTOMERS
Contract initiation date			Jan. 01, 2023	Jan. 01, 2023
Contract maturity date			Dec. 31, 2023	Dec. 31, 2023
Execution Fees						5,000,000
Refund amount						0
Deferred revenue recognized				$ 0
Refund VAT amount						0
Revenue VAT amount				$ 0
Third year \| Strategic alliance agreement
CONTRACT WITH CUSTOMERS
Contract initiation date			Jan. 01, 2024	Jan. 01, 2024
Contract maturity date			Dec. 31, 2024	Dec. 31, 2024
Execution Fees						5,000,000
Refund amount						0
Deferred revenue recognized				$ 0
Refund VAT amount						0
Revenue VAT amount				$ 0
Fourth year \| Strategic alliance agreement
CONTRACT WITH CUSTOMERS
Contract initiation date			Jan. 01, 2025	Jan. 01, 2025
Contract maturity date			Dec. 31, 2025	Dec. 31, 2025
Execution Fees						5,000,000
Refund amount						0
Deferred revenue recognized				$ 0
Refund VAT amount						0
Revenue VAT amount				$ 0
Fifth year \| Strategic alliance agreement
CONTRACT WITH CUSTOMERS
Contract initiation date			Jan. 01, 2026	Jan. 01, 2026
Contract maturity date			Dec. 31, 2026	Dec. 31, 2026
Execution Fees						5,000,000
Refund amount						0
Deferred revenue recognized				$ 0
Refund VAT amount						0
Revenue VAT amount				$ 0
Sixth year \| Strategic alliance agreement
CONTRACT WITH CUSTOMERS
Contract initiation date			Jan. 01, 2027	Jan. 01, 2027
Contract maturity date			Dec. 31, 2027	Dec. 31, 2027
Execution Fees						5,000,000
Refund amount						0
Deferred revenue recognized				$ 0
Refund VAT amount						0
Revenue VAT amount				$ 0
Seventh year \| Strategic alliance agreement
CONTRACT WITH CUSTOMERS
Contract initiation date			Jan. 01, 2028	Jan. 01, 2028
Contract maturity date			Dec. 31, 2028	Dec. 31, 2028
Execution Fees						5,000,000
Refund amount						0
Deferred revenue recognized				$ 0
Refund VAT amount						0
Revenue VAT amount				$ 0
Eighth year \| Strategic alliance agreement
CONTRACT WITH CUSTOMERS
Contract initiation date			Jan. 01, 2029	Jan. 01, 2029
Contract maturity date			Dec. 31, 2029	Dec. 31, 2029
Execution Fees						5,000,000
Refund amount						0
Deferred revenue recognized				$ 0
Refund VAT amount						0
Revenue VAT amount				$ 0
Ninth year \| Strategic alliance agreement
CONTRACT WITH CUSTOMERS
Contract initiation date			Jan. 01, 2030	Jan. 01, 2030
Contract maturity date			Dec. 31, 2030	Dec. 31, 2030
Execution Fees						5,000,000
Refund amount						0
Deferred revenue recognized				$ 0
Refund VAT amount						0
Revenue VAT amount				$ 0
Tenth year \| Strategic alliance agreement
CONTRACT WITH CUSTOMERS
Contract initiation date			Jan. 01, 2031	Jan. 01, 2031
Contract maturity date			Dec. 31, 2031	Dec. 31, 2031
Execution Fees						5,000,000
Refund amount						0
Deferred revenue recognized				$ 0
Refund VAT amount						0
Revenue VAT amount				0
AIATW
CONTRACT WITH CUSTOMERS
Basic business execution fees			$ 52,267		$ 1,191,858	$ 33,000,000
Execution Fees									$ 1,159,039	$ 33,000,000
Revenue amount			$ 108,594	$ 3,234,476
Refund amount							$ 807,127	$ 23,100,000

LEASE (Details)

LEASE (Details) - USD ($)	12 Months Ended
LEASE (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
LEASE
Operating lease cost	$ 4,273,389	$ 4,228,584
Minimum
LEASE
Operating lease term	1 year
Maximum
LEASE
Operating lease term	5 years

LEASE - Operating lease right-o

LEASE - Operating lease right-of-use assets and lease liabilities (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
LEASE
Right-of-use assets under operating leases	$ 7,162,373	$ 6,449,182
Operating lease liabilities - current	3,556,295	3,059,329
Operating lease liabilities - noncurrent	$ 3,514,245	$ 3,298,089

LEASE - Lease term and discount

LEASE - Lease term and discount rate (Details)	Dec. 31, 2022	Dec. 31, 2021
LEASE
Weighted average remaining lease term, Operating lease	2 years 6 months 14 days	2 years 3 months 21 days
Weighted average discount rate, Operating lease	2.59%	2.80%

LEASE - Minimum future lease pa

LEASE - Minimum future lease payments (Details)	Dec. 31, 2022 USD ($)
LEASE
2023	$ 3,589,189
2024	2,232,058
2025	879,635
2026	373,297
2027	266,955
Total minimum lease payments	7,341,134
Less: Interest	(270,594)
Present value of future minimum lease payments	$ 7,070,540

INCOME TAX (Details)

INCOME TAX (Details) - USD ($)	12 Months Ended
INCOME TAX (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
INCOME TAX
Current income provision	$ 4,123,929	$ 4,868,429
Deferred income provision (benefit)	(144,520)	126,222
Income tax provision	3,979,409	4,994,651
Foreign
INCOME TAX
Current income provision	4,123,929	4,868,429
Deferred income provision (benefit)	$ (144,520)	$ 126,222

INCOME TAX - Deferred tax asset

INCOME TAX - Deferred tax assets and liabilities (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets
Net operating loss carryforwards	$ 1,142,485	$ 1,639,106
Accrued bonus to Law Broker's officer	406,853	465,047
Unrealized foreign currency exchange loss	48,802	240,898
Social security premium	58,395	50,828
Pension liabilities	70,310	88,037
Compensation cost	78,022
Others	99,792	64,222
Total	1,904,659	2,548,138
Valuation allowance	(905,558)	(1,639,106)
Net deferred tax assets - noncurrent	$ 999,101	$ 909,032

INCOME TAX - Effective income t

INCOME TAX - Effective income tax rate reconciliation (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
INCOME TAX
U.S. statutory rate	21%	21%
Tax rate difference	(2.00%)	(2.00%)
Change in valuation allowance for unrecognized tax losses	3%	7%
Income tax on undistributed earnings	3%	4%
Non-deductible and non-taxable items	(1.00%)
Release of valuation allowance	(1.00%)
Utilization of previously unrecognized tax losses	(4.00%)
Effective tax rate	19%	30%

INCOME TAX - Additional informa

INCOME TAX - Additional information (Details) $ in Millions	12 Months Ended
INCOME TAX - Additional information (Details) $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 HKD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 HKD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2022 TWD ($)
INCOME TAX
U.S. statutory rate	21%	21%	21%	21%
Percentage of undistributed earnings	5%	5%
Uncertain tax position	$ 0		$ 0
Current tax payable	239,839		179,879
Valuation Allowance	$ 905,558		$ 1,639,106
Tax per financial statements	19%	19%	30%	30%
Net income	$ 17,010,320		$ 11,652,968
Undistributed earnings					$ 1,199,195
Noncurrent tax payable	299,797		539,636
Penalties or interest relating to income taxes	$ 0		0
Taiwan dollar (NTD)
INCOME TAX
U.S. statutory rate	20%	20%
Additional income tax rate on undistributed earnings	5%	5%
Current tax payable	$ 2,680,703		3,703,412
Uniwill
INCOME TAX
Valuation Allowance	295,324					$ 9,061,854
Hong Kong
INCOME TAX
Current tax payable	$ 0		$ 9,756
Tax per financial statements	8.25%	8.25%	16.25%	16.25%
Net income		$ 2		$ 2
China
INCOME TAX
Current tax payable	$ 0		$ 0
China \| WFOE and consolidated affiliated entities
INCOME TAX
Tax per financial statements	25%	25%

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Related party transactions
Due to related parties	$ 53,868	$ 50,531
Ms. Lu
Related party transactions
Due to related parties		41,311
Others
Related party transactions
Due to related parties	$ 53,868	$ 9,220

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
COMMITMENTS AND CONTINGENCIES
Surplus bonus percentage	1.25%
Compensation expenses	$ 232,784	$ 258,200
Number of years to act as general manager or equivalent position	3 years
Performance bonus		$ 494,213

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Carrying amount
Marketable securities:
Equity securities	$ 816,749
Long-term investments:
REITs	1,039,576	$ 1,261,482
Total assets measured at fair value	1,856,325	1,261,482
Fair value Level 1 \| Fair value \| Recurring
Marketable securities:
Equity securities	816,749
Long-term investments:
REITs	1,039,576	1,261,482
Total assets measured at fair value	$ 1,856,325	$ 1,261,482

SEGMENT REPORTING - Revenue by

SEGMENT REPORTING - Revenue by major customers by reporting segments (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) segment	Dec. 31, 2022 HKD ($) segment	Dec. 31, 2021 USD ($)	Dec. 31, 2021 HKD ($)
Segment reporting
Number of operating segments \| segment	3	3
Revenue
Revenue	$ 131,930,218		$ 131,363,175
Income (loss) from operations
Total income from operations	18,139,968		16,733,055
Non-operating income (expense)
Total non-operating income (expense)	2,849,761		(85,436)
Net income
Net income	17,010,320		11,652,968
Elimination adjustment
Revenue
Revenue	(4,620,546)		(2,914,486)
Income (loss) from operations
Total income from operations	1,182,363		1,043,411
Non-operating income (expense)
Total non-operating income (expense)	(1,107,833)		(590,883)
Net income
Net income	74,525		451,978
Taiwan
Revenue
Revenue	132,589,410		128,550,812
Income (loss) from operations
Total income from operations	15,912,640		16,922,939
Non-operating income (expense)
Total non-operating income (expense)	3,242,205		587,890
Net income
Net income	15,297,555		12,464,221
Hong Kong
Non-operating income (expense)
Total non-operating income (expense)	6,813		3,679
Net income
Net income		$ 2		$ 2
Hong Kong
Revenue
Revenue	114,278		35,014
Income (loss) from operations
Total income from operations	(223,591)		(124,185)
Net income
Net income	(216,778)		(129,471)
PRC
Revenue
Revenue	3,847,076		5,691,835
Income (loss) from operations
Total income from operations	1,268,556		(1,109,110)
Non-operating income (expense)
Total non-operating income (expense)	708,576		(86,122)
Net income
Net income	$ 1,855,018		$ (1,133,760)

SEGMENT REPORTING - Geographica

SEGMENT REPORTING - Geographical distribution (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Reportable assets
Total reportable assets	$ 138,892,796	$ 127,781,521
Long-lived assets
Total long-lived assets	8,796,489	8,510,937
Capital investments (CAPEX cash flows)
Total capital investments	772,245	674,948
Elimination adjustment
Reportable assets
Total reportable assets	(76,708,683)	(81,283,249)
Long-lived assets
Total long-lived assets	(2,907)	(2,905)
Capital investments (CAPEX cash flows)
Total capital investments	0	0
PRC
Reportable assets
Total reportable assets	12,448,808	12,326,308
Long-lived assets
Total long-lived assets	1,108,495	1,727,911
Capital investments (CAPEX cash flows)
Total capital investments	37,609	79,203
Hong Kong
Reportable assets
Total reportable assets	695,662	756,692
Long-lived assets
Total long-lived assets	2,217	1,287
Capital investments (CAPEX cash flows)
Total capital investments	1,635	154
Taiwan dollar (NTD)
Reportable assets
Total reportable assets	202,457,009	195,981,770
Long-lived assets
Total long-lived assets	7,688,684	6,784,644
Capital investments (CAPEX cash flows)
Total capital investments	$ 733,001	$ 595,591

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) - USD ($)	12 Months Ended
VARIABLE INTEREST ENTITIES (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 25,557,582	$ 18,234,350
Accounts receivable	27,562,055	26,761,678
Other current assets	1,146,749	1,207,496
Total current assets	122,053,094	110,502,700
Right-of-use assets under operating leases	7,162,373	6,449,182
Property and equipment, net	1,634,116	2,061,755
Prepaid expenses - intangible assets	333,966	333,118
Long-term investments	2,335,655	2,696,812
Restricted cash - noncurrent	7,679	88,282
Deferred tax assets	999,101	909,032
Other assets	4,366,812	4,740,640
TOTAL ASSETS	138,892,796	127,781,521
Current liabilities
Commissions payable to sales professionals	16,221,438	14,003,541
Other current liabilities	12,593,597	13,997,603
Due to related parties - Ms. Lu (the shareholder of Anhou)	488,846	541,754
Total current liabilities	56,510,393	53,839,983
Operating lease liabilities - noncurrent	3,514,245	3,298,089
TOTAL LIABILITIES	62,360,340	58,608,660
Revenue	131,930,218	131,363,175
Net income (loss)	17,010,320	11,652,968
Net cash used in operating activities	13,632,776	13,775,488
Net cash provided by (used in) investing activities	(7,371,488)	(9,446,329)
Net cash used in financing activities	3,076,561	4,516,778
Zhengzhou Zhonglian Hengfu Business Consulting Co., Limited
Current assets
Cash and cash equivalents	2,131,222	1,001,974
Accounts receivable	387,413	455,884
Other current assets	282,456	120,113
Total current assets	2,801,091	1,577,971
Right-of-use assets under operating leases	968,301	1,528,856
Property and equipment, net	140,194	199,056
Prepaid expenses - intangible assets	63,240	9,377
Long-term investments	43,495	47,179
Restricted cash - noncurrent	327	72,870
Registered capital deposits	724,921	1,100,842
Deferred tax assets		74,709
Other assets	77,396	83,951
TOTAL ASSETS	4,818,965	4,694,811
Current liabilities
Commissions payable to sales professionals	202,630	210,198
Other current liabilities	985,559	1,117,738
Due to related parties - Ms. Lu (the shareholder of Anhou)		41,311
Total current liabilities	1,188,189	1,369,247
Operating lease liabilities - noncurrent	343,604	908,971
TOTAL LIABILITIES	1,531,793	2,278,218
Revenue	3,847,076	5,691,835
Net income (loss)	1,168,010	(1,030,082)
Net cash used in operating activities	(1,831,994)	(805,285)
Net cash provided by (used in) investing activities	3,108,829	(125,572)
Net cash used in financing activities	$ (39,042)	$ (38,760)