v3.22.2.2
Unaudited Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current Assets    
Cash $ 2,143,757 $ 38,695
Short-term investment 925,628 994,549
Accounts receivable – related party 136,800
Inventories, net 1,366,282 1,366,282
Prepaid expenses and other current assets 4,543,569 4,071,231
Total Current Assets 8,979,236 6,607,557
Long-term Investment 4,424,415 4,740,784
Property and Equipment    
Cost 2,969,429 2,968,265
Accumulated depreciation (2,212,070) (1,923,438)
Depreciation, net 757,359 1,044,827
Prepayment for land 35,861,589 35,861,589
Prepayment for equipment 17,889 17,889
Net Property and Equipment 36,636,837 36,924,305
Other Assets    
Restricted cash 3,222,818 3,250,118
Intangible asset, net 1,650,000 1,897,500
Goodwill 1,475,334 1,475,334
Right-of-use assets, net 89,141 177,994
Deposits 106,658 117,146
Total Other Assets 6,543,951 6,918,092
Total Assets 56,584,439 55,190,738
Current Liabilities    
Short-term loans 4,331,542 1,633,732
Accounts payable 1,562,395 1,564,627
Accrued expenses and other current liabilities 9,612,052 7,924,044
Long-term loan - current 11,097 11,334
Lease liability – current 241,113 387,508
Total Current Liabilities 15,758,199 11,521,245
Long-term Liabilities    
Long-term bonds payable 8,891,897 8,653,511
Long-term loan – non-current 11,158 18,054
Prepayments from customer – non-current 762,000 762,000
Lease liability – non-current 18,707 62,652
Restricted stock deposit liability 1,000 1,000
Total Long-Term Liabilities 9,684,762 9,497,217
Total Liabilities 25,442,961 21,018,462
Commitments
Stockholders’ Equity    
Preferred stock, $0.001 par value, 50,000,000 shares authorized, 0 shares issued and outstanding as of June 30, 2022 and December 31, 2021
Common stock, $0.001 par value, 90,000,000 shares authorized, 9,720,003 shares (excluding 149,162 unvested restricted shares) and 9,715,889 shares (excluding 149,162 unvested restricted shares) issued and outstanding as of June 30, 2022 and December 31, 2021 9,720 9,716
Additional paid in capital 78,818,224 77,825,976
Accumulated deficits (46,981,399) (41,767,258)
Accumulated other comprehensive loss (705,067) (1,896,158)
Total Stockholders’ Equity 31,141,478 34,172,276
Total Liabilities and Stockholders’ Equity $ 56,584,439 $ 55,190,738

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