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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]  
Schedule of revenue & accounts receivable with customers

For the six months ended June 30, 2019 and 2018, the Company had the following 10 percent or greater concentrations of revenue with its customers:

 

    2019     2018  
A*     12.7 %     7.9 %
B*     12.5 %     13.8 %
All other     74.8 %     78.3 %
Total     100.0 %     100.0 %

 

Revenues from customer A are derived from a customer located in United States and customer B are derived from a customer located in Sweden. Revenues from all other customers were mainly derived in the United States.

 

At June 30, 2019 and December 31, 2018, the Company had the following 10 percent or greater concentrations of accounts receivable with its customers:

 

    2019     2018  
A*     35.5 %     46.2 %
All other     64.5 %     53.8 %
Total     100.0 %     100.0 %

 

* Receivables from customer A are derived from a customer located in Sweden.
Schedule of exchange rates

As of and for the six months ended June 30, 2019 and June 30, 2018, the exchange rates used to translate amounts in Chinese Yuan into USD for the purposes of preparing the consolidated financial statements were as follows:

 

    June 30,
2019		     June 30,
2018		  
Exchange rate on balance sheet dates                
USD : CNY exchange rate     6.87       6.62  
                 
Average exchange rate for the period                
USD : CNY exchange rate     6.89       6.46  
Schedule of anti-dilutive shares

The effects of dilutive instruments have been presented for the year-to-date net income as of June 30, 2019. Other periods presented do not reflect the dilutive shares, as the effects would be anti-dilutive due to the fact that losses are being reflected for those periods. Please refer to the below table for additional details:

 

    For the three months
ended June 30,		     For the six months
ended June 30,		  
    2019     2018     2019     2018  
Net income (loss) available to common stockholders   $ (1,473,295 )   $ (3,391,822 )   $ 10,183,299     $ (6,351,017 )
Adjustments for diluted earnings                                
Interest expense on convertible notes     -       -       243,108       -  
Amortization of discount on notes payable     -       -       178,823       -  
Diluted net income (loss) available to common stockholders   $ (1,473,295 )   $ (3,391,822 )   $ 10,605,230     $ (6,351,017 )
                                 
Income (Loss) per share:                                
Basic   $ (0.03 )   $ (0.07 )   $ 0.18     $ (0.13 )
Diluted   $ (0.03 )   $ (0.07 )   $ 0.17     $ (0.13 )
Weighted average shares outstanding:                                
Basic     57,336,117       51,003,803       57,267,622       48,952,357  
Diluted     57,336,117       51,003,803       61,817,621       48,952,357