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Advances from Issuance of Common Stock
6 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [Abstract]  
ADVANCES FROM ISSUANCE OF COMMON STOCK

13. ADVANCES FROM ISSUANCE OF COMMON STOCK


On June 16, 2020, the Company entered into a Securities Purchase Agreement (the “Agreement”) with Qun Xie  (the “Purchaser”), pursuant to which the Company agreed to sell to the Purchaser in a private placement 500,000 shares (the “Shares”) of the Company’s Common Stock, purchase price of $1.00 per share for an aggregate offering price of $500,000 (the “Private Placement”). The Private Placement will be completed pursuant to the exemption from registration provided by Regulation S promulgated under the Securities Act of 1933, as amended. On June 30, 2020, Qun Xie paid $500,000, and the Company recorded $500,000 as advances from issuance of the Common Stock in current liability. On August 7, the Company issued 500,000 Shares pursuant to this Agreement.