XML 34 R56.htm IDEA: XBRL DOCUMENT v3.19.3
Related Parties Transactions (Details Textual) - USD ($)
1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended 13 Months Ended
Jul. 12, 2019
Jul. 02, 2019
May 12, 2019
Feb. 02, 2019
May 11, 2018
Apr. 12, 2017
Aug. 31, 2019
Jun. 30, 2019
May 27, 2019
Feb. 27, 2019
Jan. 20, 2019
Dec. 31, 2018
Nov. 30, 2018
Nov. 29, 2018
Aug. 25, 2018
Jun. 27, 2018
Jan. 31, 2018
Jan. 18, 2018
Dec. 31, 2017
Sep. 30, 2017
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Jan. 26, 2017
Related Parties Transactions (Textual)                                                    
Interest expenses                                         $ 111,968 $ 122,326 $ 374,540 $ 345,982    
Conversion price             $ 7.00                                      
Convertion of debt             $ 4,872,340                                      
Conversion of debt, shares             696,051                                      
Related party transactions, description                       Since 2018, Mr. Tsung-Shann Jiang, Mr. Chang-Jen Jiang, Ms. Shu-Ling Jiang, and Ms. Mei-Ling Jiang have entered into various loans with the Company for working capital purpose in an aggregate amount of $795,340. These loans bear interest at 12% per annum and are due on demand. On August 1, 2019, the Company entered into a Conversion Agreements to convert the remaining balance of $817,354 to 116,765 shares of the Company’s common stock at a conversion price of $7.00 per share.                            
Outstanding advance balance                       $ 7,745,096                 376,460   376,460   $ 7,745,096  
Keypoint Note [Member]                                                    
Related Parties Transactions (Textual)                                                    
Aggregate principal amount                               $ 250,000                    
Interest rate percentage                               8.00%                    
Interest expenses                                             15,000 0    
Related party transactions, description                               On June 27, 2018, the Company issued an eighteen-month term unsecured convertible promissory note (the “Keypoint Note”) in an aggregate principal amount of $250,000 to Keypoint Technology Ltd. (“Keypoint”) (See Note 8).                    
Odaira Note [Member]                                                    
Related Parties Transactions (Textual)                                                    
Aggregate principal amount                           $ 250,000                        
Interest rate percentage                           8.00%                        
Interest expenses                                             15,000   0  
Related party transactions, description                             On August 25, 2018, the Company issued an eighteen-month term unsecured convertible promissory note (the “Odaira Note”) in an aggregate principal amount of $250,000 to Yoshinobu Odaira (“Odaira”) (See Note 8).                      
Rgene Corporation [Member]                                                    
Related Parties Transactions (Textual)                                                    
Aggregate principal amount                       19,477                 34,220   $ 34,220   19,477  
Loan agreement, description                                             The loan bears interest at 1% per month (or equivalent to 12% per annum) and the loan will be matured on December 31, 2019      
Accrued interest                       0                 3,203   $ 3,203   0  
Asiangene Corporation [Member]                                                    
Related Parties Transactions (Textual)                                                    
Accrued interest                 $ 37                                  
Amount of equivalent                 3,353                                  
Outstanding advance balance                       160,000                 24,017   24,017   160,000  
Asiangene Corporation [Member] | NT [Member]                                                    
Related Parties Transactions (Textual)                                                    
Aggregate working capital                 100,000                                  
Aggregate principal amount                 $ 100,000                                  
Loan agreement, description                 The loan bears interest at 1% per month (or equivalent to 12% per annum) and the loan will be matured on December 31, 2019.                                  
BioFirst [Member]                                                    
Related Parties Transactions (Textual)                                                    
Aggregate principal amount                       0                 132,650   132,650   0  
Accrued interest                                         142,688   $ 142,688      
Interest rate percentage                                             12.00%      
Loan maturity date                                             Dec. 31, 2019      
Interest expenses                                             $ 22,359      
Outstanding advance balance                       6,428,643                 142,688   142,688   6,428,643  
BioFirst (Australia) [Member]                                                    
Related Parties Transactions (Textual)                                                    
Aggregate principal amount $ 150,000       $ 40,000                                          
Interest rate percentage 12.00%       0.00%                                          
Loan maturity date Dec. 31, 2019                                                  
Outstanding loan balance                                             40,000   40,000  
Interest expenses                                             $ 3,968      
BioLite Taiwan [Member]                                                    
Related Parties Transactions (Textual)                                                    
Aggregate working capital                         $ 430,817                     $ 94,990    
Loan agreement, description                                             The development costs shall be shared 50/50 between BHK and the Company. The BHK Co-Development Agreement will remain in effect for fifteen years from the date of first commercial sale of the Product in in Asia excluding Japan.      
Interest rate percentage                         0.00%                     12.00%    
Loan maturity date                                               Apr. 14, 2020    
Other receivable from related parties                       0                 111,780   $ 111,780   0  
Conversion price                         $ 7.00                 $ 7.00   $ 7.00    
Convertion of debt                         $ 428,099                     $ 97,864    
Conversion of debt, shares                         61,157                     13,981    
BioLite Taiwan [Member] | NT [Member]                                                    
Related Parties Transactions (Textual)                                                    
Aggregate working capital                         $ 13,295,000                     $ 2,950,000    
LBG USA, Inc.[Member]                                                    
Related Parties Transactions (Textual)                                                    
Loan agreement, description                   The advances bear 0% interest rate and are due on demand.                                
Outstanding advance                       675                 0   0   675  
BioFirst [Member]                                                    
Related Parties Transactions (Textual)                                                    
Aggregate working capital                                     $ 625,646             $ 950,000
Interest rate percentage       12.00%                             12.00%              
Loan maturity date       Feb. 01, 2020                             May 27, 2020              
Outstanding loan balance       $ 693,000                                            
Conversion price       $ 7.00                             $ 7.00              
Convertion of debt       $ 693,000                             $ 625,646              
Conversion of debt, shares       99,000                             8,937              
Stock purchase agreement, description               Pursuant to which the Company agreed to issue 428,571 shares of the Company’s common stock to BioFirst in consideration for $3,000,000 owed by the Company to BioFirst.                                    
BioFirst [Member] | Conversion Agreements One [Member]                                                    
Related Parties Transactions (Textual)                                                    
Interest rate percentage                                     0.00%              
Conversion price                                     $ 7.00              
Convertion of debt                                     $ 597,128              
Conversion of debt, shares                                     85,304              
BioFirst [Member] | NT [Member]                                                    
Related Parties Transactions (Textual)                                                    
Aggregate working capital                                     $ 19,430,000              
BioLite BVI [Member]                                                    
Related Parties Transactions (Textual)                                                    
Aggregate working capital           $ 987,134                                        
Interest rate percentage           12.00%                                        
Loan maturity date     May 11, 2020     May 11, 2019                                        
Conversion price     $ 7.00                                              
Convertion of debt     $ 987,134                                              
Conversion of debt, shares     141,020                                              
BioLite BVI [Member] | NT [Member]                                                    
Related Parties Transactions (Textual)                                                    
Aggregate working capital           $ 30,000,000                                        
Everfront Biotech Inc. [Member]                                                    
Related Parties Transactions (Textual)                                                    
Investment and equity transfer agreement, description                                       Pursuant to the Investment and Equity Transfer Agreement, Everfront agreed to purchase 2,000,000 common shares of the Company owned by AsiaGene at $1.60 per share in a total amount of $3,200,000, of which $160,000 is due before September 15, 2017 and the remaining amount of $3,040,000 is due before December 15, 2017. AsiaGene also agreed to loan the proceeds to the Company for working capital purpose. The non-secured loan bears 0% interest rate and is due on demand. On August 1, 2019, the Company entered into a Conversion Agreements to convert the remaining balance of $160,000 to 22,858 shares of the Company’s common stock at a conversion price of $7.00 per share.            
YuanGene [Member]                                                    
Related Parties Transactions (Textual)                                                    
Aggregate working capital                                 $ 42,690 $ 50,000                
Interest rate percentage                                 0.00% 12.00%                
Loan maturity date                     Jan. 19, 2020             Jan. 19, 2019                
Conversion price                     $ 7.00           $ 7.00                  
Convertion of debt                     $ 50,000           $ 42,690                  
Conversion of debt, shares                     7,143           6,099                  
Outstanding advance balance                                         9,205   9,205      
Jiangs [Member]                                                    
Related Parties Transactions (Textual)                                                    
Aggregate principal amount                       $ 381,375                 4,735   $ 4,735   $ 381,375  
Interest rate percentage                       0.00%                     0.00%      
Conversion price                       $ 7.00                         $ 7.00  
Convertion of debt                       $ 381,375                            
Conversion of debt, shares                       54,482                            
Kimho [Member]                                                    
Related Parties Transactions (Textual)                                                    
Related party transactions, description   On July 2, 2019, the Company entered into an agreement with Kimho, starting from September 2019 with a fixed monthly retainer of $7,500. As of September 30, 2019 and December 31, 2018, the outstanding services charge was $7,500 and $0, respectively.                                                
Outstanding advance balance                                       7,500   $ 7,500    
Due to shareholders [Member]                                                    
Related Parties Transactions (Textual)                                                    
Outstanding advance balance                                       $ 188,315   188,315    
Advances bear interest, description                                         The advances bear interest from 12% to 13.6224% per annum.          
AsianGene Corporation [Member]                                                    
Related Parties Transactions (Textual)                                                    
Outstanding advance balance                                         $ 24,017   $ 24,017