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

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

 

    2019     2018  
A*     13.9 %     17.6 %
B*     12.9 %     7.9 %
All other     73.2 %     74.5 %
Total     100.0 %     100.0 %

  

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

 

At September 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*     32.4 %     39.1 %
B*     11.5 %     5.5 %
All other     56.1 %     55.4 %
Total     100.0 %     100.0 %

  

  * Receivables from customer A are derived from a customer located in Sweden and customer B are derived from a customer located in the United States.
Schedule of exchange rates

As of and for the nine months ended September 30, 2019 and September 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: 

 

    September 30,
2019		     September 30,
2018		  
Exchange rate on balance sheet dates            
USD : CNY exchange rate   7.15           6.87  
                 
Average exchange rate for the period     7.12       6.85  
USD : CNY exchange rate                
Schedule of anti-dilutive shares

The effects of dilutive instruments have been presented for the year-to-date net income as of September 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 September 30,		     For the nine months
ended September 30,		  
    2019     2018     2019     2018  
Net income (loss) available to common stockholders   $ 961,042     $ (4,131,714 )   $ 11,144,342     $ (10,356,876 )
Adjustments for diluted earnings:                                
Preferred Stock Dividend             (43,639 )             (169,494 )
Interest expense on convertible notes     105,385       -       348,493       -  
Amortization of discount on notes payable     528,464       -       707,286       -  
Diluted net income (loss) available to common stockholders   $ 1,594,891     $ (4,175,353 )   $ 12,200,121     $ (10,526,370 )
                                 
Income (Loss) per share:                                
Basic   $ 0.02     $ (0.08 )   $ 0.19     $ (0.21 )
Diluted   $ 0.03     $ (0.08 )   $ 0.20     $ (0.21 )
Weighted average shares outstanding:                                
Basic     59,307,404       51,098,575       58,023,685       49,675,624  
Diluted     62,532,510       51,098,575       62,050,032       49,675,624