Related Party Transactions	9 Months Ended
Sep. 30, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 6 – RELATED PARTY TRANSACTIONS A member of the Company’s board of directors (“Board”) had advanced to the Company an aggregate amount of $1,354,567 as of September 30, 2020 and December 31, 2019 which are recorded as “Other payables – related parties” on the accompanying condensed consolidated balance sheets. The advances bear interest at a rate of 1.0% per year. Total interest expense for each of the three months ended September 30, 2020 and 2019 was $3,386 and $3,386, respectively. Total interest expense for each of the nine months ended September 30, 2020 and 2019 was $10,159 and $10,159, respectively. The Company received advances totaling $162,090 during the nine months ended September 30, 2020 from its Chairperson, Chief Executive Officer and Interim Chief Financial Officer; and paid back $77,530 to her in the same period. On July 8, 2019 the Company entered into a loan agreement for cash of RMB 4,770,000 ($674,405) with its Chairperson, Chief Executive Officer and Interim Chief Financial Officer. The loan bears interest at a rate of 4.35% and is payable within one year of the loan agreement. The due date of the loan agreement was extended to July 10, 2021. Total amounts owed were $822,062 and $717,419 and are recorded as “Other payables – related parties” on the accompanying condensed consolidated balance sheets as of September 30, 2020 and December 31, 2019, respectively. Total interest expense related to the loan for the three and nine months ended September 30, 2020 was $7,282 and $21,846. Compensation payable to the Chairperson, Chief Executive Officer and Interim Chief Financial Officer is included in “Other payables” in the accompanying condensed consolidated balance sheets totaling $2,319,986 and $2,307,986 as of September 30, 2020 and December 31, 2019, respectively. The remaining balance of other payables of $1.2 million and $1.3 million as of September 30, 2020 and December 31, 2019, respectively mainly included sales expenses, taxes, freight, and utility bills.

Related Party Transactions

9 Months Ended

Sep. 30, 2020

NOTE 6 – RELATED PARTY TRANSACTIONS

A member of the Company’s board of directors (“Board”) had advanced to the Company an aggregate amount of $1,354,567 as of September 30, 2020 and December 31, 2019 which are recorded as “Other payables – related parties” on the accompanying condensed consolidated balance sheets. The advances bear interest at a rate of 1.0% per year. Total interest expense for each of the three months ended September 30, 2020 and 2019 was $3,386 and $3,386, respectively. Total interest expense for each of the nine months ended September 30, 2020 and 2019 was $10,159 and $10,159, respectively.

The Company received advances totaling $162,090 during the nine months ended September 30, 2020 from its Chairperson, Chief Executive Officer and Interim Chief Financial Officer; and paid back $77,530 to her in the same period. On July 8, 2019 the Company entered into a loan agreement for cash of RMB 4,770,000 ($674,405) with its Chairperson, Chief Executive Officer and Interim Chief Financial Officer. The loan bears interest at a rate of 4.35% and is payable within one year of the loan agreement. The due date of the loan agreement was extended to July 10, 2021. Total amounts owed were $822,062 and $717,419 and are recorded as “Other payables – related parties” on the accompanying condensed consolidated balance sheets as of September 30, 2020 and December 31, 2019, respectively. Total interest expense related to the loan for the three and nine months ended September 30, 2020 was $7,282 and $21,846.

Compensation payable to the Chairperson, Chief Executive Officer and Interim Chief Financial Officer is included in “Other payables” in the accompanying condensed consolidated balance sheets totaling $2,319,986 and $2,307,986 as of September 30, 2020 and December 31, 2019, respectively. The remaining balance of other payables of $1.2 million and $1.3 million as of September 30, 2020 and December 31, 2019, respectively mainly included sales expenses, taxes, freight, and utility bills.