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Investment in A Limited Partnership | 12 Months Ended
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Dec. 31, 2020
Investment Company, Financial Highlights [Abstract] |
INVESTMENT IN A LIMITED PARTNERSHIP |
9. | INVESTMENT IN A LIMITED PARTNERSHIP
As of December 31, 2020, the Company’s investment in a limited partnership was as the following:
|  | Investment |  |  | % of ownership |  |  | Investment dates
Ningbo Meishan Xinaishan Equity Investment Limited Partnership (“limited partnership”) |  | $ | 1,285,859 |  |  |  | 28 | % |  | November 5, 2020
Less: share of operating loss of limited partnership |  |  | (27,071 | ) |  |  |  |  |  |
|  |  | 1,258,788 |  |  |  |  |  |  |
On November 5, 2020, the Company entered into a five-year partnership agreement to invest $1,217,039, for 28% partnership interest in the limited partnership. The funds raised by the limited partnership are invested in one PRC private company engaged in immunotherapy. For the year ended December 31, 2020, equity investment loss of $25,622 has been recorded in other income, net for the Company’s share of the operating loss of the limited partnership. As of December 31, 2020, no significant impairment indicators have been noted in connection with the investment.

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- Definition The entire disclosure of financial highlights reported by investment company. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 205 -URI http://asc.fasb.org/subtopic&trid=2324234 + Details
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