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Loans (Tables) | 9 Months Ended
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Sep. 30, 2020
Loans [Abstract] |
Schedule of debt |
|  | December 31, |  |  | September 30, |
|  | 2019 |  |  | 2020 |
Short-term bank loan |  | $ | 5,730,289 |  |  | $ | 5,876,289 |
Current maturities of long-term bank loans |  |  | 10,844,463 |  |  |  | 20,721,649 |
Long-term bank borrowings |  |  | 9,519,029 |  |  |  | - |
|  | $ | 26,093,781 |  |  | $ | 26,597,938 |
Schedule of facilities secured by the company's assets |
|  | December 31, |  |  | September 30, |
|  | 2019 |  |  | 2020 |
Pledged deposits (note 2) |  | $ | 4,021,255 |  |  | $ | 6,488,306 |
Right-of-use assets (note 9) |  |  | 7,194,195 |  |  |  | 7,253,386 |
Buildings |  |  | 17,683,961 |  |  |  | 16,855,060 |
Machinery and equipment |  |  | 7,196,810 |  |  |  | 6,563,940 |
|  | $ | 36,096,221 |  |  | $ | 37,160,692 |
Schedule of other short-term loan |
|  |  |  | December 31, |  |  | September 30, |
|  | Note |  | 2019 |  |  | 2020 |
Advance from related parties |  |  |  |  |  |  |  |
– Mr. Xiangqian Li, the Company's Former CEO |  | (a) |  |  | 100,000 |  |  |  | 100,000 |
– Mr. Yunfei Li |  | (b) |  |  | 212,470 |  |  |  | 218,943 |
– Shareholders |  | (c) |  |  | 86,679 |  |  |  | 88,888 |
|  |  |  |  | 399,149 |  |  |  | 407,831 |
Advances from unrelated third party |  |  |  |  |  |  |  |  |  |
– Mr. Wenwu Yu |  | (d) |  |  | 30,135 |  |  |  | 30,903 |
– Mr. Longqian Peng |  | (d) |  |  | 646,273 |  |  |  | 662,739 |
– Mr. Shulin Yu. |  | (e) |  |  | 517,018 |  |  |  | 530,191 |
– Jilin Province Trust Co. Ltd |  | (f) |  |  | 5,687,204 |  |  |  | 3,564,065 |
– Suzhou Zhengyuanwei Needle Ce Co., Ltd |  | (g) |  |  | 71,808 |  |  |  | 73,638 |
|  |  |  |  | 6,952,438 |  |  |  | 4,861,536 |
|  |  |  | $ | 7,351,587 |  |  | $ | 5,269,367 |
| (a) | Advances from Mr. Xiangqian Li, the Company's former CEO, was unsecured, non-interest bearing and repayable on demand.
| (b) | Advances from Mr. Yunfei Li, the Company's CEO, was unsecured, non-interest bearing and repayable on demand.
| (c) | The earnest money paid by certain shareholders in relation to share purchase (note 1) were unsecured, non-interest bearing and repayable on demand. In 2019, according to the investment agreements and agreed by the investors, the Company returned earnest money of $949,317 (approximately RMB6.7 million) to these investors.

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