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Consolidated Balance Sheets - USD ($)
Jun. 30, 2021
Dec. 31, 2020
ASSETS    
Cash and cash equivalents $ 924,841 $ 4,273,208
Restricted cash and cash equivalents 732,163 728,163
Accounts receivable, net 297,024 159,712
Accounts receivable - related parties, net 145,475 143,435
Due from related parties 710,257 696,255
Inventory, net
Prepaid expense and other current assets 817,889 172,193
Total Current Assets 3,627,649 6,172,966
Property and equipment, net 511,747 514,834
Operating lease right-of-use assets 1,636,436 1,772,747
Goodwill, net
Long-term investments 1,095,751 1,190,727
Deferred tax assets 1,912,356 1,790,597
Prepaid expenses – noncurrent 119,985 119,315
Security deposits 41,042 45,519
Total Assets 8,944,966 11,606,705
LIABILITIES AND EQUITY    
Accounts payable 5,047 23,044
Short-term bank loans 1,634,500 1,629,000
Short-term loan 100,000 100,000
Notes payable 107,400 106,800
Accrued expenses and other current liabilities 1,865,254 2,118,854
Advance from customers 10,985 12,070
Operating lease liabilities – current portion 337,170 316,178
Due to related parties 315,676 288,445
Convertible notes payable - related parties, current portion 250,000
Total Current Liabilities 4,376,032 4,844,391
Paycheck Protection Program loan payable 236,498 124,400
Tenant security deposit 17,180 19,280
Operating lease liability – noncurrent portion 1,299,267 1,456,567
Convertible notes payable – noncurrent portion 2,500,000 2,500,000
Total Liabilities 8,428,977 8,944,638
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, 24,470,526 and 24,420,526 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively 24,470 24,420
Additional paid-in capital 41,001,757 40,751,807
Stock subscription receivable (2,708,880) (3,160,360)
Accumulated deficit (28,742,458) (25,642,387)
Accumulated other comprehensive income 965,581 564,860
Treasury stock (9,100,000) (9,100,000)
Total Stockholders’ Equity 1,440,470 3,438,340
Noncontrolling interest (924,481) (776,273)
Total Equity 515,989 2,662,067
Total Liabilities and Equity $ 8,944,966 $ 11,606,705