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Subsequent Events | 3 Months Ended
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Mar. 31, 2020
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | 16. SUBSEQUENT EVENTS On April 5, 2020, the Company entered into certain exchange agreements separately with certain U.S. and non-U.S. holders of certain convertible promissory notes issued by the Company on January 21, 2020. The non-U.S. holders are qualified as "non-U.S. Persons" as defined in Regulation S of the Securities Act of 1933, as amended (the "Securities Act"). The U.S. holder is an "accredited investor" as that term is defined in Rule 501(a) of Regulation D. Pursuant to the Exchange Agreements, the holders agreed to deliver the Notes to the Company for cancellation, of which the aggregate principal amount plus accrued interest expenses are $931,584.07, and the Company agreed to issue to the holders an aggregate of 506,297 shares of the Company's common stock, par value $0.001 per share, and warrants to purchase 506,297 shares of Common Stock. On April 20, 2020, the Company entered into certain exchange agreements separately with additional non-U.S. holders of certain convertible promissory notes issued by the Company on August 28 and September 4, 2019. The non-U.S. holders are qualified as "non-U.S. Persons" as defined in Regulation S of the Securities Act. Pursuant to the Exchange Agreements, the holders agreed to deliver such notes to the Company for cancellation, of which the aggregate principal amount plus accrued interest expenses are $515,195.84, and the Company agreed to issue to the holders an aggregate of 289,438 shares of the Company's common stock, par value $0.001 per, and warrants to purchase 289,438 shares of Common Stock. In May 2020, the Company received capital contributions of approximately $1,602,040 in cash from 40 investors through private placements of the sale of certain number of Common Stocks for the purchase price of $2.25 per share of Common Stock and a free warrant attaches with each Common stock that was purchased. The exercise price of the warrant will be at $6.00 per common stock with a mandatory redemption at $9.00 per common stock pursuant to the terms and conditions of the warrants. The Company has evaluated subsequent events through the date which the financial statements were available to be issued. All subsequent events requiring recognition as of March 31, 2020 have been incorporated into these financial statements and there are no subsequent events that require disclosure in accordance with FASB ASC Topic 855, "Subsequent Events."

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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