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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) | 12 Months Ended
--- | ---
Dec. 31, 2019 | Dec. 31, 2018
NET REVENUE |  |
Net Revenue | $ 10,596,521 | $ 2,594,941
OPERATING EXPENSE |  |
Cost of net revenue | (5,430,269) | (1,310,272)
Sales, marketing and other operating expenses | (12,434) | (66,111)
Write-off/impairment on property, plant and equipment | 0 | (1,397,313)
Loss on demolition of factory | 0 | (18,644,473)
Direct labor and factory overheads incurred during plant shutdown | (15,175,280) | (21,081,692)
Write-off of prepaid land lease | 0 | (4,004,788)
Impairment for goodwill | 0 | (27,966,050)
General and administrative expenses | (13,272,921) | (11,268,800)
Other operating loss | 0 | (407,973)
Total Costs and Expenses | (33,890,904) | (86,147,472)
LOSS FROM OPERATIONS | (23,294,383) | (83,552,531)
OTHER INCOME (EXPENSE) |  |
Interest expense | (145,445) | (160,422)
Interest income | 446,770 | 661,112
LOSS BEFORE INCOME TAXES | (22,993,058) | (83,051,841)
INCOME TAX (EXPENSE) BENEFIT | (2,806,987) | 13,087,855
NET LOSS | (25,800,045) | (69,963,986)
COMPREHENSIVE LOSS: |  |
NET LOSS | (25,800,045) | (69,963,986)
OTHER COMPREHENSIVE LOSS |  |
Foreign currency translation adjustments | (5,013,759) | (18,641,006)
COMPREHENSIVE LOSS | $ (30,813,804) | $ (88,604,992)
LOSS PER SHARE: |  |
BASIC AND DILUTED | $ (2.73) | $ (7.45)
WEIGHTED AVERAGE NUMBER OF SHARES: |  |
BASIC AND DILUTED | 9,465,432 | 9,360,758

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