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Related Party Transactions | 6 Months Ended
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Jun. 30, 2022
Related Party Transactions [Abstract] |
RELATED PARTY TRANSACTIONS | NOTE 16 – RELATED PARTY TRANSACTIONS The Company records transactions with various related parties. These related party balances as of June 30, 2022 and December 31, 2021 and transactions for the six months ended June 30, 2022 and 2021 are identified as follows:
(1) | Related parties with transactions and related party relationships
Name of Related Party |  | Relationship to the Company
Mr. Hengfang Li |  | CEO and Chairman of the Board of Directors
Ms. Hong Ma |  | Wife of the CEO
Q Green Techcon Private Limited |  | Owned by the minority Shareholder of REIT India
Shexian Ruibo Environmental Science and Technology Co., Ltd (Shexian Ruibo) |  | The Company owns 41.67% ownership interest in Shexian Ruibo
Hunyuan Baiyang Food Co., Ltd. |  | An entity controlled by the CEO
Handan Ruisheng Construction Material Co., Ltd. |  | An entity controlled by Shexian Ruibo
Zhongtou Ruitu Information Service (Beijing) Co., Ltd |  | An entity controlled by the CEO's son, Mr. Xinyang Li and CEO's daughter, Ms. Xinran Li
Bei Qi Yin Jian Yi Le (Haikou) Smart Move Science Technology Co., Ltd. |  | Hainan Yile IoT owns 45% ownership interest in this company
Handan Ruisheng Construction Material Technology Co., Ltd. |  | An entity controlled by Shexian Ruibo
(2) | Due to related parties
As of June 30, 2022and December 31, 2021, the balance of due to related parties were as follows:
|  | June 30, 2022 |  |  | December 31, 2021 |
|  | (Unaudited) |  |  |  |
Mr. Hengfang Li |  | $ | 171,333 |  |  | $ | 472,439 |
Mr. Hengfang Li is the Chief Executive Officer (“CEO”) and major shareholder of the Company. Mr. Li periodically provides working capital loans to support the Company’s operations when needed. Such advance was non-interest bearing and due on demand.
(3) | Accounts receivable from related parties
Accounts receivable from related party consisted of the following:
|  | June 30, 2022 |  |  | December 31, 2021 |
|  | (Unaudited) |  |  |  |
Accounts receivable – related party |  |  |  |  |  |
Hunyuan Baiyang Food Co., Ltd. |  |  | 38,146 |  |  |  | 40,088 |
Bei Qi Yin Jian Yi Le (Haikou) Smart Move Science Technology Co., Ltd. |  |  | 48,073 |  |  |  | 50,520 |
Q Green Techcon Private Limited |  |  | - |  |  |  | 2,981 |
Total accounts receivable from related party |  | $ | 86,219 |  |  | $ | 93,589 |
As of August 31, 2022, the accounts receivable balance of $86,219 was unpaid.
(4) | Advance to suppliers, related parties
Advance to suppliers, related party, consisted of the following:
|  | June 30, 2022 |  |  | December 31, 2021 |
|  | (Unaudited) |  |  |  |
Advance to supplier – related party |  |  |  |  |  |
Q Green Techcon Private Limited |  | $ | - |  |  | $ | 174,099 |
Shexian Ruibo* |  |  | 3,927,885 |  |  |  | 3,656,118 |
Handan Ruisheng Construction Material Co., Ltd. |  |  | 9,682 |  |  |  | 12,403 |
Total |  | $ | 3,937,567 |  |  | $ | 3,842,620 |
* | The balance represents the Company’s purchase advances for eco-friendly materials and equipment supplied by Shexian Ruibo.
(5) | Advance from related parties
Advance from related parties consisted of the following:
|  | June 30, 2022 |  |  | December 31, 2021 |
Advance from – related parties |  |  |  |  |  |
- Q Green Techcon Private Limited |  | $ | 192,830 |  |  | $ | - |
Total |  | $ | 192,830 |  |  | $ | - |
(6) | Sales to related parties
Sales to related parties consisted of the following:
|  | For the six months ended June 30, |
|  | 2022 |  |  | 2021 |
|  | (Unaudited) |  |  | (Unaudited) |
Sales to related parties |  |  |  |  |  |
Hunyuan Baiyang Food Co., Ltd. |  | $ |  |  |  | $ | 61,019 |
Bei Qi Yin Jian Yi Le (Haikou) Smart Move Science Technology Co., Ltd. |  |  | 6,987 |  |  |  |  |
Q Green Techcon Private Limited |  |  |  |  |  |  | 44,849 |
Total |  | $ | 6,987 |  |  | $ | 105,868 |
Cost of revenue associated with the sales to these related parties amounted to $Nil and $85,170 for the six months ended June 30, 2022 and 2021, respectively.
(7) | Purchases from related parties
Purchases from related parties consisted of the following:
|  | For the six months ended June 30, |
|  | 2022 |  |  | 2021 |
|  | (Unaudited) |  |  | (Unaudited) |
Purchase from a relate party |  |  |  |  |  |
Shexian Ruibo Environmental Science and Technology Co., Ltd. |  | $ | 280,378 |  |  | $ | 593,961 |
Q Green Techcon Private Limited. |  |  | 276,768 |  |  |  | 228,248 |
Total |  | $ | 557,145 |  |  | $ | 822,209 |
(8) | Loan guarantees provided by related parties
The Company’s principal shareholders also provide personal guarantees for certain of the Company’s short-term loans.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI https://asc.fasb.org/topic&trid=2122745 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
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