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

9 Months Ended

Sep. 30, 2021

Income Tax Disclosure [Abstract]

Schedule of provision for income taxes expenses

			Three months ended September 30,								Nine months ended September 30,
			2020				2021				2020				2021
PRC income tax:
Current		$	-			$	-			$	-			$	-
Deferred			-				-				-				-
		$	-			$	-			$	-			$	-

Schedule of income tax reconciliation

		Three months ended September 30,								Nine months ended September 30,
		2020				2021				2020				2021
Income (Loss) before income taxes		$	41,715			$	20,023,221			$	(3,510,563	)		$	52,351,612
United States federal corporate income tax rate			21	%			21	%			21	%			21	%
Income tax (credit) expenses computed at United States statutory corporate income tax rate			8,760				4,204,877				(737,218	)			10,993,839
Reconciling items:
Rate differential for PRC earnings			15,480				(104,422	)			(79,959	)			(132,095	)
Non-deductible expenses (non-taxable income)			38,529				(4,764,089	)			187,432				(11,993,447	)
Share based payments			33,973				19,067				129,333				70,007
Valuation allowance on deferred tax assets			(96,742	)			644,567				500,412				1,061,696
Income tax expenses		$	-			$	-			$	-			$	-

Schedule of deferred tax assets and liabilities

		December 31,				September 30,
		2020				2021
Deferred tax assets
Trade accounts receivable		$	1,354,762			$	1,248,059
Inventories			575,575				646,198
Property, plant and equipment			1,271,986				1,130,024
Impairment on non-marketable equity securities			-				173,317
Provision for product warranty			497,901				499,574
Net operating loss carried forward			31,060,254				32,125,002
Valuation allowance			(34,760,478	)			(35,822,174	)
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			95,495				-				95,495
Balance as of September 30, 2021		$	7,606,677			$	-			$	7,606,677

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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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