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Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current Assets    
Cash and cash equivalents $ 390,221 $ 144,295
Restricted cash and cash equivalents 16,148 16,148
Accounts receivable, net 201,811 163,566
Accounts receivable - related parties, net 144,878 143,278
Due from related parties 769,421 333,682
Inventory, net
Prepaid expense and other current assets 82,375 77,269
Total Current Assets 1,604,854 878,238
Property and equipment, net 507,803 520,930
Operating lease right-of-use assets 383,094 524,445
Goodwill, net
Long-term investments 2,196,601 3,364,619
Deferred tax assets 1,580,258 1,460,033
Prepaid expenses – noncurrent 115,223 135,443
Security deposits 44,528 44,103
Total Assets 6,432,361 6,927,811
Current Liabilities    
Accounts payable 7,812 23,995
Short-term bank loans 1,685,000 1,918,500
Short-term loan 100,000
Long-term bank loans – current portion 13,403
Notes payable 147,518 100,200
Accrued expenses and other current liabilities 2,914,757 2,007,573
Advance from customers 13,921 13,085
Operating lease liabilities – current portion 219,572 304,248
Due to related parties 478,231 425,689
Convertible notes payable – current portion 820,000 820,000
Convertible notes payable – related parties, current portion 1,187,500 1,187,500
Total Current Liabilities 7,574,311 6,814,193
Paycheck Protection Program Loan Payable 124,400
Tenant security deposit 4,680 2,880
Operating lease liability – noncurrent portion 172,995 235,555
Total Liabilities 7,876,386 7,052,628
Equity    
Preferred stock, $0.001 par value, 20,000,000 authorized, nil shares issued and outstanding
Common stock, $0.001 par value, 100,000,000 authorized, 19,488,168 and 19,478,168 shares issued and outstanding 19,488 19,478
Additional paid-in capital 28,222,937 28,180,348
Subscribed stock 1,697,051
Stock subscription receivable (3,611,840) (4,063,320)
Accumulated deficit (18,948,058) (15,851,223)
Other comprehensive income 646,734 663,753
Treasury stock (9,100,000) (9,100,000)
Total Stockholders’ deficit (1,073,688) (150,964)
Noncontrolling interest (370,337) 26,147
Total Equity (Deficit) (1,444,025) (124,817)
Total Liabilities and Equity (Deficit) $ 6,432,361 $ 6,927,811