Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current Assets    
Cash $ 2,808,023 $ 88,309
Accounts receivable 649,939 1,745,000
Inventories 2,380,364 895,014
Prepaid expenses 2,507,069 1,533,748
Other receivable - related party 111,111
Other receivable - others 1,461 2,616
Temporary deposit - related party 100,067
Other current assets 13,975 11,336
Total Current Assets 8,471,942 4,376,090
Property and Equipment    
Cost 2,715,998 2,710,543
Accumulated depreciation (731,806) (322,049)
Property and equipment 1,984,192 2,388,494
Prepayment for land 35,861,589 35,237,127
Construction in progress 416,231
Net Property and Equipment 37,845,781 38,041,852
Other Assets    
Intangible asset, net 3,011,250 3,382,500
Goodwill 1,475,334 1,475,334
Operating lease right-of-use assets, net 364,832
Deposits 108,161 107,909
Total Other Assets 4,959,577 4,965,743
Total Assets 51,277,300 47,383,685
Current Liabilities    
Accounts payable 809,908 1,650,000
Accrued expenses 345,864 412,165
Other payable - related parties 112,192 173,854
Other payable - others 2,203,028 3,726,932
Long-term loan - current 8,150  
Operating lease liability - current - related party 33,478
Operating lease liability - current - others 352,523
Total Current Liabilities 3,865,143 5,962,951
Long-term Liabilities    
Long-term loan - non-current 37,615  
Operating lease liability - non-current 19,900
Restricted stock deposit liability 1,000 1,000
Total Liabilities 3,923,658 5,963,951
Stockholders' Equity    
Preferred stock, $0.001 par value, 50,000,000 shares authorized, none issued and outstanding as of September 30, 2019 and December 31, 2018
Common stock, $0.001 par value, 90,000,000 shares authorized, 9,391,709 shares (excluding 149,162 unvested restricted shares) issued and outstanding as of September 30, 2019; 9,098,090 shares (excluding 149,162 unvested restricted shares) issued and outstanding as of December 31, 2018 9,392 9,098
Additional paid in capital 68,872,096 56,582,800
Accumulated deficits (22,172,341) (15,292,128)
Accumulated other comprehensive income 644,495 119,964
Total Stockholders' Equity 47,353,642 41,419,734
Total Liabilities and Stockholders' Equity $ 51,277,300 $ 47,383,685