XML 21 R14.htm IDEA: XBRL DOCUMENT
v3.20.4

LONG-TERM INVESTMENT | 12 Months Ended
--- | ---
Sep. 30, 2020
LONG-TERM INVESTMENT |
LONG-TERM INVESTMENT | NOTE 8 – LONG-TERM INVESTMENT In July 2017, Gansu QLS acquired 40% ownership interest of JiuQuan Funong Biotech Co., Ltd (“Funong”) with a total investment amount of RMB3,300,000, which have been paid in the amount of RMB1,200,000 ($176,121 equivalent) in 2017, RMB1,658,750 ($253,596 equivalent) in 2018, and RMB441,250 ($64,165 equivalent) in 2019, respectively. The investment was accounted for using equity method. Equity method investment consisted of the following:
|  | As of |  | As of
|  | September 30, 2020 |  | September 30, 2019
Equity method investment: |  |  |  |  |  |
Cost of equity method investment |  |  | 485,059 |  |  | 462,295
Profit (loss) from equity method investment |  |  | 112,538 |  |  | 77,385
Dividend Distribution received |  |  | (57,080) |  |  | —
Total long-term investment |  | $ | 540,517 |  | $ | 539,680
The investment income attributable to the equity investment of $32,093, $89,197 and $8,309 for the years ended September 30, 2020, 2019 and 2018, respectively, were included in other income (expense) on the statement of income and comprehensive income.

X
- References No definition available. + Details
Name: | us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
Name: | us-gaap_EquityMethodInvestmentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration