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Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 1,816,177 $ 22,834
Restricted cash 3,500,000  
Accounts receivable, net 4,940 61,779
Other receivables and prepayments, net 33,942 18,867
Advances to suppliers, net 8,266 7,727
Inventories, net 88,603 1,085,016
Other taxes receivable 246,685 337,412
Marketable equity securities 273,913 143,478
Total Current Assets 5,972,526 1,677,113
Property and equipment, net 75,653 656,840
Total Assets 6,048,179 2,333,953
CURRENT LIABILITIES:    
Accounts payable 18,614 226,215
Contract liability 48,116 267,365
Accrued expenses and other current liabilities 866,334 1,530,473
Warranty obligation 728
Due to related parties 1,784,058 1,208,331
Total Current Liabilities 2,717,122 3,233,112
OTHER LIABILITIES    
Warrants liability 518,666 389,630
Total Liabilities 3,235,788 3,622,742
Commitments and Contingency
SHAREHOLDERS’ EQUITY    
Common stock – Class A, par value $0.021848: 4,736,111 shares authorized as of December 31, 2020 and December 31, 2019; 2,210,683 and 836,933 shares issued and outstanding as of December 31, 2020 and December 31, 2019 48,299 18,285
Common stock – Class B, par value $0.021848: 1,513,889 shares authorized as of December 31, 2020 and December 31, 2019; 1,388,888 shares issued and outstanding as of December 31, 2020 and December 31, 2019 30,345 30,345
Additional paid-in capital 47,995,772 40,833,249
Accumulated deficit (47,848,895) (44,607,198)
Accumulated other comprehensive income 2,586,870 2,436,530
Total Equity 2,812,391 (1,288,789)
Total liabilities and equity $ 6,048,179 $ 2,333,953