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

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of provision for income taxes expenses

			December 31,				December 31,
			2018				2019
PRC income tax		$	-			$	-
Current			-				-
Deferred		$	-			$	-

Schedule of income tax reconciliation

		Year ended December 31, 2018				Year ended December 31, 2019
Loss before income taxes		$	(1,957,482	)		$	(10,853,435	)
United States federal corporate income tax rate			21	%			21	%
Income tax credit computed at United States statutory corporate income tax rate			(411,071	)			(2,279,221	)
Reconciling items:
Over provision of deferred taxation in prior year
Rate differential for PRC earnings			(44,325	)			(372,518	)
Non-deductible expenses			131,888				161,576
Share based payments			46,448				161,724
Recognition of tax losses previously not recognized			(132,104	)			(92,668	)
Valuation allowance on deferred tax assets			409,164				2,421,107
Income tax expenses		$	-			$	-

Schedule of deferred tax assets and liabilities

		December 31, 2018				December 31, 2019
Deferred tax assets
Trade accounts receivable		$	1,031,389			$	1,225,916
Inventories			1,715,161				1,026,483
Property, plant and equipment			618,416				1,031,538
Provision for product warranty			562,654				561,733
Net operating loss carried forward			26,595,654				29,098,711
Valuation allowance			(30,523,274	)			(32,944,381	)
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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