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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 6,396,488 $ 22,834
Accounts receivable, net 92,236 61,779
Other receivables and prepayments, net 23,923 18,867
Advance to suppliers 7,619 7,727
Inventories, net 812,920 1,085,016
Other taxes receivable 290,651 337,412
Marketable equity securities 286,957 143,478
Total Current Assets 7,910,794 1,677,113
Property and equipment, net 272,332 656,840
Total assets 8,183,126 2,333,953
CURRENT LIABILITIES:    
Accounts payable 196,334 226,215
Advances from customers 138,157 267,365
Accrued expenses and other current liabilities (including rental payable to a related party of $74,776 and $75,834 at June, 30, 2020 and December 31, 2019, respectively) 904,861 1,530,473
Due to related parties- Short-term borrowings and interest payable 2,029,203 1,208,331
Warranty obligation 717 728
Total Current Liabilities 3,269,272 3,233,112
OTHER LIABILITIES    
Warrants liability 689,934 389,630
Total Liabilities 3,959,206 3,622,742
SHAREHOLDERS’ (DEFICIT) EQUITY    
Additional paid in capital 47,995,773 40,833,249
Accumulated deficit (46,303,194) (44,607,198)
Accumulated other comprehensive income 2,452,697 2,436,530
Total shareholders’ (deficit) equity 4,223,920 (1,288,789)
Total liabilities and shareholders’ (deficit) equity 8,183,126 2,333,953
Common Stock Class A    
SHAREHOLDERS’ (DEFICIT) EQUITY    
Common stock 48,299 18,285
Common Stock Class B    
SHAREHOLDERS’ (DEFICIT) EQUITY    
Common stock $ 30,345 $ 30,345