v3.22.2
Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current Assets    
Cash $ 38,695 $ 584,591
Short-term investment 994,549 4,392,710
Account receivable – related party 136,800  
Inventories, net 1,366,282 3,168,124
Prepaid expenses 4,055,087 3,666,259
Other receivable – related parties 4,590 1,992
Other receivable – others 1,426 1,546
Other current assets 10,128 10,701
Total Current Assets 6,607,557 11,825,923
Long-term investment 4,740,784  
Property and Equipment, net    
Cost 2,968,265 2,806,420
Accumulated depreciation (1,923,438) (1,414,191)
Net 1,044,827 1,392,229
Prepayment for land 35,861,589 35,861,589
Prepayment for equipment 17,889 86,617
Net Property and Equipment 36,924,305 37,340,435
Other Assets    
Restricted cash 3,250,118 3,210,000
Intangible asset, net 1,897,500 2,392,500
Goodwill 1,475,334 1,475,334
Right-of-use assets, net 177,994 353,442
Deposits 117,146 119,436
Total Other Assets 6,918,092 7,550,712
Total Assets 55,190,738 56,717,070
Current Liabilities    
Short-term loan – related party 550,459 527,066
Short-term loan – others 1,083,273  
Accounts payable 1,564,627 1,874,339
Accrued expenses 2,884,846 1,131,459
Other payable - related parties 694,400 451,186
Other payable - others 4,344,798 3,112,355
Long-term loan – current 11,334 10,171
Lease liability – current – related party 55,025 45,086
Lease liability – current - others 332,483 312,794
Total Current Liabilities 11,521,245 7,464,456
Long-term Liabilities    
Convertible long-term bonds payable 8,653,511 9,218,094
Long-term loan – non-current 18,054 29,034
Prepayments from customer – non-current 762,000 762,000
Lease liability – non-current – related party 23,575
Lease liability – non-current – others 62,652 186,868
Restricted stock deposit liability 1,000 1,000
Total Long-term Liabilities 9,497,217 10,220,571
Total Liabilities 21,018,462 17,685,027
Commitments and Contingencies
Stockholders’ Equity    
Preferred stock, $0.001 par value, 50,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2021 and 2020
Common stock, $0.001 par value, 90,000,000 shares authorized, 9,715,889 shares (excluding 149,162 unvested restricted shares) issued and outstanding as of December 31, 2021 and 9,487,889 shares (excluding 149,162 unvested restricted shares) issued and outstanding as of December 31, 2021 and 2020 9,716 9,488
Additional paid in capital 77,825,976 73,160,616
Accumulated deficits (41,767,258) (32,383,833)
Accumulated other comprehensive loss (1,896,158) (1,754,228)
Total Stockholders’ Equity 34,172,276 39,032,043
Total Liabilities and Stockholders’ Equity $ 55,190,738 $ 56,717,070

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