Related Party Transactions	12 Months Ended
Dec. 31, 2021
Related Party Transactions
Note 7 - Related Party Transactions	Note 7 – Related Party Transactions Due to shareholder, non-interest bearing From time to time, Mr. Dinghua Wang advances monies to the Company and the Company repays such advances. Such business transactions are recorded as due to or from Mr. Dinghua Wang at the time of the transaction. During the years ended December 31, 2021 and 2020, advances totaled $103,148 and $27,927, respectively, and repayments totaled $24,255 and $410,375, respectively. As of December 31, 2021 and 2020, the balance due to Mr. Dinghua Wang, non-interest bearing, amounted to $134,500 and $55,607, respectively. This balance is unsecured. Advance from related party, interest bearing The Company borrowed $30,000 from a related party to fund operations in July 2016. This related party is the son of Mr. Dinghua Wang. The advance had an annual interest rate of 10%, was unsecured and was due on March 20, 2024. The advance of $30,000 was transferred to DW Food, a related party, through a debt sale agreement in December 2020. This balance due to DW Food was subsequently paid with shares of the Company’s common stock in December 2020. Interest expense for the years ended December 31, 2021 and 2020 for the above loans amounted to $0 and $2,753, respectively.

Related Party Transactions

12 Months Ended

Dec. 31, 2021

Note 7 – Related Party Transactions

Due to shareholder, non-interest bearing

From time to time, Mr. Dinghua Wang advances monies to the Company and the Company repays such advances. Such business transactions are recorded as due to or from Mr. Dinghua Wang at the time of the transaction. During the years ended December 31, 2021 and 2020, advances totaled $103,148 and $27,927, respectively, and repayments totaled $24,255 and $410,375, respectively. As of December 31, 2021 and 2020, the balance due to Mr. Dinghua Wang, non-interest bearing, amounted to $134,500 and $55,607, respectively. This balance is unsecured.

Advance from related party, interest bearing

The Company borrowed $30,000 from a related party to fund operations in July 2016. This related party is the son of Mr. Dinghua Wang. The advance had an annual interest rate of 10%, was unsecured and was due on March 20, 2024. The advance of $30,000 was transferred to DW Food, a related party, through a debt sale agreement in December 2020. This balance due to DW Food was subsequently paid with shares of the Company’s common stock in December 2020.

Interest expense for the years ended December 31, 2021 and 2020 for the above loans amounted to $0 and $2,753, respectively.

Merion, Inc. 10-K