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

3 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of provision for income taxes expenses

		Three months ended March 31,
		2020				2021
PRC income tax:
Current		$	-			$	-
Deferred			-				-
		$	-			$	-

Schedule of income tax reconciliation

		Three months ended March 31,
		2020				2021
Profit (loss) before income taxes		$	(2,354,111	)		$	29,608,168
United States federal corporate income tax rate			21	%			21	%
Income tax credit computed at United States statutory corporate income tax rate			(494,363	)			6,217,715
Reconciling items:
Rate differential for PRC earnings			(69,225	)			69,004
Non-taxable income			-				(5,969,462	)
Non-deductible expenses			67,679				82,672
Share based payments			63,028				31,252
Valuation allowance on deferred tax assets			432,881				(431,181	)
Income tax expenses		$	-			$	-

Schedule of deferred tax assets and liabilities

		December 31,				March 31,
		2020				2021
Deferred tax assets
Trade accounts receivable		$	1,354,762			$	1,316,433
Inventories			575,575				593,697
Property, plant and equipment			1,271,986				1,261,434
Provision for product warranty			497,901				494,280
Net operating loss carried forward			31,060,254				30,663,453
Valuation allowance			(34,760,478	)			(34,329,297	)
Deferred tax assets, non-current		$	-			$	-
Deferred tax liabilities, non-current		$	-			$	-

Schedule of unrecognized tax benefits excluding interest and penalties

		Gross UTB				Surcharge				Net UTB
Balance as of January 1, 2021		$	7,511,182			$	-			$	7,511,182
Increase in unrecognized tax benefits taken in current period			(27,740	)			-				(27,740	)
Balance as of March 31, 2021		$	7,483,442			$	-			$	7,483,442

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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.

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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.

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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.

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Tabular disclosure of the change in unrecognized tax benefits.

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