v3.21.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current Assets    
Cash $ 584,591 $ 751,329
Short-term investment 87,154
Accounts receivable 451,130
Inventories, net 5,211,427 3,038,564
Prepaid expenses 1,622,956 2,968,912
Other receivable - related parties 496 920
Other receivable - others 1,546 1,446
Temporary deposit - related party 1,496
Other current assets 10,701 5,708
Total Current Assets 7,520,367 7,218,009
Prepayment for long-term investment 4,305,556
Property and Equipment    
Cost 2,806,420 2,777,144
Accumulated depreciation (1,414,191) (869,747)
Net 1,392,229 1,907,397
Prepayment for land 35,861,589 35,861,589
Prepayment for equipment 86,617
Net Property and Equipment 37,340,435 37,768,986
Other Assets    
Restricted cash 3,210,000 225,500
Intangible asset, net 2,392,500 2,887,500
Goodwill 1,475,334 1,475,334
Right-of-use assets, net 353,442 302,602
Deposits - others 119,436 113,660
Total Other Assets 7,550,712 5,004,596
Total Assets 56,717,070 49,991,591
Current Liabilities    
Short-term loan - related parties 527,066
Accounts payable 1,874,339 912,729
Accrued expenses 1,131,459 245,140
Other payable - related parties 451,186 30,971
Other payable - others 3,112,355 1,801,109
Long-term loan - current 10,171 8,666
Lease liability - current - related parties 45,086 22,632
Lease liability - current - others 312,794 309,747
Total Current Liabilities 7,464,456 3,330,994
Long-term Liabilities    
Long-term bonds payable 9,218,094
Long-term loan - non-current 29,034 36,803
Prepayments from customer 762,000 762,000
Lease liability - non-current - related parties 23,575
Lease liability - non-current - others 186,868 45,199
Restricted stock deposit liability 1,000 1,000
Total Long- term Liabilities 10,220,571 845,002
Total Liabilities 17,685,027 4,175,996
Commitments
Stockholders' Equity    
Preferred stock, $0.001 par value, 50,000,000 shares authorized, none issued and outstanding as of December 31, 2020 and 2019
Common stock, $0.001 par value, 90,000,000 shares authorized, 9,487,889 shares (excluding 149,162 unvested restricted shares) issued and outstanding as of December 31, 2020; 9,391,729 shares (excluding 149,162 unvested restricted shares) issued and outstanding as of December 31, 2019 9,488 9,392
Additional paid in capital 73,160,616 69,560,529
Accumulated deficits (32,383,833) (23,271,687)
Accumulated other comprehensive loss (1,754,228) (482,639)
Total Stockholders' Equity 39,032,043 45,815,595
Total Liabilities and Stockholders' Equity $ 56,717,070 $ 49,991,591

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