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Income Taxes, Deferred Tax Assets and Deferred Tax Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of provision for income taxes expenses

		December 31,				December 31,
		2017				2018
PRC income tax		$	-			$	-
Current			-				-
Deferred		$	-			$	-

Schedule of income tax reconciliation

		Year ended December 31, 2017				Year ended December 31, 2018
Loss before income taxes		$	(21,467,341	)		$	(1,957,482	)
United States federal corporate income tax rate			35	%			21	%
Income tax credit computed at United States statutory corporate income tax rate			(7,513,570	)			(411,071	)
Reconciling items:
Over provision of deferred taxation in prior year
Rate differential for PRC earnings			2,019,848				(44,325	)
Non-deductible expenses			107,248				131,888
Share based payments			265,752				46,448
Recognition of tax losses previously not recognized			(188,647	)			(132,104	)
Provisional re-measurement of deferred taxes – TCJ Act			14,572,726				-
Valuation allowance on deferred tax assets			(9,263,357	)			409,164
Income tax expenses		$	-			$	-

Schedule of deferred tax assets and liabilities

		December 31, 2017				December 31, 2018
Deferred tax assets
Trade accounts receivable		$	1,098,183			$	1,031,389
Inventories			1,772,444				1,751,161
Property, plant and equipment			781,227				618,416
Provision for product warranty			569,958				562,654
Net operating loss carried forward			25,892,299				26,595,654
Valuation allowance			(30,114,111	)			(30,559,274	)
Deferred tax assets, non-current		$	-			$	-
Deferred tax liabilities, non-current		$	-			$	-

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- References

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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