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Business Under Common Control (Tables) | 3 Months Ended
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Mar. 31, 2021
Business Under Common Control |
Schedule of Adjustment Information | Consolidated Statement of Operations and Other Comprehensive Income for the Three Months Ended on March 31, 2020
|  | As Previously Reported |  |  | Acquisition of APB under Common Control |  |  | Acquisition of LVD Ltd under Common Control |  |  | As Combined |
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Property Sales |  | $ | 2,954,389 |  |  | $ | - |  |  | $ | - |  |  | $ | 2,954,389 |
Biohealth Product Sales |  |  | 10,782 |  |  |  | - |  |  |  | - |  |  |  | 10,782 |
|  |  | 2,965,171 |  |  |  | - |  |  |  | - |  |  |  | 2,965,171 |
Operating Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of Sales |  |  | 2,383,703 |  |  |  | - |  |  |  | - |  |  |  | 2,383,703 |
General and Administrative |  |  | 920,124 |  |  |  | 81,226 |  |  |  | 500 |  |  |  | 1,001,850 |
Research and Development |  |  | 2,009 |  |  |  | - |  |  |  | - |  |  |  | 2,009 |
Total Operating Expenses |  |  | 3,305,836 |  |  |  | 81,226 |  |  |  | 500 |  |  |  | 3,387,562 |
Loss From Operations |  |  | (340,665 | ) |  |  | (81,226 | ) |  |  | (500 | ) |  |  | (422,391 | )
Other Income (Expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest Income |  |  | 7,810 |  |  |  | 11,580 |  |  |  | 25 |  |  |  | 19,415 |
Interest Expense |  |  | (60,931 | ) |  |  | - |  |  |  | - |  |  |  | (60,931 | )
Foreign Exchange Transaction Gain (Loss) |  |  | 2,118,952 |  |  |  | - |  |  |  | 141,530 |  |  |  | 2,260,482 |
Unrealized Gain (Loss) on Securities Investment |  |  | 484,362 |  |  |  | (26,034 | ) |  |  | 94 |  |  |  | 458,422 |
Finance Costs |  |  | - |  |  |  | (4,890 | ) |  |  | (13 | ) |  |  | (4,903 | )
Other Income |  |  | 5,471 |  |  |  | - |  |  |  | - |  |  |  | 5,471 |
Total Other Income (Expense), Net |  |  | 2,555,664 |  |  |  | (19,344 | ) |  |  | 141,636 |  |  |  | 2,677,956 |
Net Income (Loss) Before Income Taxes |  |  | 2,214,999 |  |  |  | (100,570 | ) |  |  | 141,136 |  |  |  | 2,255,565 |
Income Tax |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Net Income (Loss) |  |  | 2,214,999 |  |  |  | (100,570 | ) |  |  | 141,136 |  |  |  | 2,255,565 |
Net Income (Loss) Attributable to Non-Controlling Interest |  |  | 643,139 |  |  |  | (6,436 | ) |  |  | - |  |  |  | 636,703 |
Net Income (Loss) Attributable to Common Stockholders |  | $ | 1,571,860 |  |  | $ | (94,134 | ) |  | $ | 141,136 |  |  | $ | 1,618,862 |
Other Comprehensive Loss, Net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized Loss on Securities Investment |  |  | (12,599 | ) |  |  | - |  |  |  | - |  |  |  | (12,599 | )
Foreign Currency Translation Adjustment |  |  | (1,674,021 | ) |  |  | - |  |  |  | - |  |  |  | (1,674,021 | )
Comprehensive Income (Loss) |  |  | 528,379 |  |  |  | (100,570 | ) |  |  | 141,136 |  |  |  | 568,945 |
Comprehensive Income (Loss) Attributable to Non-controlling Interests |  |  | 59,569 |  |  |  | (6,436 | ) |  |  | - |  |  |  | 53,133 |
Comprehensive Income (Loss) Attributable to Common Stockholders |  | $ | 468,810 |  |  | $ | (94,134 | ) |  | $ | 141,136 |  |  | $ | 515,812 |
Net Income Per Share - Basic and Diluted |  | $ | 0.16 |  |  |  |  |  |  |  |  |  |  | $ | 0.16 |
Weighted Average Common Shares Outstanding - Basic and Diluted |  |  | 10,001,000 |  |  |  |  |  |  |  |  |  |  |  | 10,001,000 |
Consolidated Balance Sheet as of December 31, 2020
|  | As Previously Reported |  |  | Acquisition of APB under Common Control |  |  | Acquisition of LVD Ltd under Common Control |  |  | Eliminations |  |  | As Combined |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 22,124,491 |  |  | $ | 1,848,455 |  |  | $ | 492,977 |  |  | $ | - |  |  | $ | 24,465,923 |
Restricted Cash |  |  | 6,769,533 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 6,769,533 |
Account Receivables, Net |  |  | 1,366,194 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,366,194 |
Other Receivables |  |  | 270,222 |  |  |  | 279,177 |  |  |  | 95,177 |  |  |  | - |  |  |  | 644,576 |
Note Receivables - Related Party |  |  | 624,986 |  |  |  | 24,583 |  |  |  | - |  |  |  | - |  |  |  | 649,569 |
Prepaid Expenses |  |  | 1,470,680 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,470,680 |
Inventory |  |  | 90,068 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 90,068 |
Investment in Securities at Fair Value |  |  | 48,857,483 |  |  |  | 313,343 |  |  |  | 1,631 |  |  |  | - |  |  |  | 49,172,457 |
Investment in Securities at Cost |  |  | 280,516 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 280,516 |
Investment in Securities on Equity Method |  |  | - |  |  |  | - |  |  |  | 74,535 |  |  |  | (74,535 | ) |  |  | - |
Deposits |  |  | 47,019 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 47,019 |
Total Current Assets |  |  | 81,901,192 |  |  |  | 2,465,558 |  |  |  | 664,320 |  |  |  | (74,535 | ) |  |  | 84,956,535 |
Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Properties under Development |  |  | 20,505,591 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 20,505,591 |
Operating Lease Right-Of-Use Asset |  |  | 574,754 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 574,754 |
Deposit |  |  | 249,676 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 249,676 |
Loan Receivable |  |  | - |  |  |  | 840,000 |  |  |  | - |  |  |  | - |  |  |  | 840,000 |
Property and Equipment, Net |  |  | 85,365 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 85,365 |
Total Assets |  | $ | 103,316,578 |  |  | $ | 3,305,558 |  |  | $ | 664,320 |  |  | $ | (74,535 | ) |  | $ | 107,211,921 |
Liabilities and Stockholders’ Equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts Payable and Accrued Expenses |  | $ | 1,553,132 |  |  | $ | 117,188 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,670,320 |
Deferred Revenue |  |  | 2,867,226 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,867,226 |
Builder Deposits |  |  | 1,262,336 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,262,336 |
Operating Lease Liability |  |  | 381,412 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 381,412 |
Note Payable |  |  | 172,706 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 172,706 |
Note Payable- Related Parties |  |  | 1,526,208 |  |  |  | - |  |  |  | 823,823 |  |  |  | - |  |  |  | 2,350,031 |
Total Current Liabilities |  |  | 7,763,020 |  |  |  | 117,188 |  |  |  | 823,823 |  |  |  | - |  |  |  | 8,704,031 |
Long-Term Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Builder Deposits |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Operating Lease Liability |  |  | 193,342 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 193,342 |
Notes Payable |  |  | 636,362 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 636,362 |
Total Liabilities |  |  | 8,592,724 |  |  |  | 117,188 |  |  |  | 823,823 |  |  |  | - |  |  |  | 9,533,735 |
Stockholders’ Equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common Stock |  |  | 8,570 |  |  |  | 47,756 |  |  |  | - |  |  |  | (47,756 | ) |  |  | 8,570 |
Additional Paid In Capital |  |  | 97,950,440 |  |  |  | 3,584,982 |  |  |  | 756,487 |  |  |  | 47,756 |  |  |  | 102,339,666 |
Accumulated Deficit |  |  | (43,010,991 | ) |  |  | (876,712 | ) |  |  | (906,010 | ) |  |  | - |  |  |  | (44,793,713 | )
Accumulated Other Comprehensive Income |  |  | 2,153,318 |  |  |  | - |  |  |  | (9,980 | ) |  |  | - |  |  |  | 2,143,338 |
Total Stockholders’ Equity |  |  | 57,101,337 |  |  |  | 2,756,027 |  |  |  | (159,503 | ) |  |  | - |  |  |  | 59,697,861 |
Non-controlling Interests |  |  | 37,622,517 |  |  |  | 432,343 |  |  |  | - |  |  |  | (74,535 | ) |  |  | 37,980,325 |
Total Stockholders’ Equity |  |  | 94,723,854 |  |  |  | 3,188,370 |  |  |  | (159,503 | ) |  |  | (74,535 | ) |  |  | 97,678,186 |
Total Liabilities and Stockholders’ Equity |  | $ | 103,316,578 |  |  | $ | 3,305,558 |  |  | $ | 664,320 |  |  | $ | (74,535 | ) |  | $ | 107,211,921 |

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