RELATED PARTY TRANSACTIONS	9 Months Ended
Sep. 30, 2021
RELATED PARTY TRANSACTIONS
Note 11 - RELATED PARTY TRANSACTIONS	11. RELATED PARTY TRANSACTIONS From time to time, the director of the Company advanced funds to the Company for working capital purpose. Those advances are unsecured, non-interest bearing and have no fixed terms of repayment. For the nine months ended September 30, 2021 and 2020, the Company purchased materials amounted to $0 and $57,815, respectively, from its related company, Powerwatt Engineering Company Limited. Also, for the nine months ended September 30, 2021 and 2020, the Company was granted with the right to use the patents to their products at no fee charge by its related companies, which were controlled by the director of the Company. The management determined that such cost was nominal and did not recognize the patent expense in its financial statements. Apart from the transactions and balances detailed elsewhere in these accompanying condensed consolidated financial statements, the Company has no other significant or material related party transactions during the periods presented.

RELATED PARTY TRANSACTIONS

9 Months Ended

Sep. 30, 2021

11. RELATED PARTY TRANSACTIONS

From time to time, the director of the Company advanced funds to the Company for working capital purpose. Those advances are unsecured, non-interest bearing and have no fixed terms of repayment.

For the nine months ended September 30, 2021 and 2020, the Company purchased materials amounted to $0 and $57,815, respectively, from its related company, Powerwatt Engineering Company Limited.

Also, for the nine months ended September 30, 2021 and 2020, the Company was granted with the right to use the patents to their products at no fee charge by its related companies, which were controlled by the director of the Company. The management determined that such cost was nominal and did not recognize the patent expense in its financial statements.

Apart from the transactions and balances detailed elsewhere in these accompanying condensed consolidated financial statements, the Company has no other significant or material related party transactions during the periods presented.

Folkup Development Inc. 10-Q