Related Party Transactions	9 Months Ended
Sep. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 6 – RELATED PARTY TRANSACTIONS A member of the Company’s board of directors (“Board”) had previously advanced to the Company an aggregate amount of $1,354,567 as of September 30, 2021 and December 31, 2020 which is 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, 2021 and 2020 was $3,386 and $3,386, respectively and $10,159 and $10,159 for the nine months ended September 30, 2021, respectively. Compensation and interest payable to the board member is included in Other payables in the accompanying condensed consolidated balance sheet totaling $404,646 and $382,486 as of September 30, 2021 and December 31, 2020, respectively. The Company received advances totaling $1,147,192 and repaid $251,334 of the advances during the nine months ended September 30, 2021 from its Chairperson, Chief Executive Officer and Interim Chief Financial Officer. Total amounts owed were $1,702,705 and $779,861 and are recorded as Other payables – related parties on the accompanying condensed consolidated balance sheets as of September 30, 2021 and December 31, 2020, respectively. On July 8, 2019 the Company entered into a loan agreement in exchange for cash of RMB 4,770,000 ($738,379) 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 and further extended to July 9, 2022 on identical terms. Total interest expense related to the loan for the three months ended September 30, 2021 and 2020 was $7,526 and $7,282, respectively and $22,576 and $21,846 for the nine months ended September 30, 2021 and 2020, respectively. Compensation payable to the Chairperson, Chief Executive Officer and Interim Chief Financial Officer is included in Other payables in the accompanying condensed consolidated balance sheet totaling $645,328 and $1,815,990 as of September 30, 2021 and December 31, 2020, respectively. As discussed more fully in Note 12, an aggregate of $1,179,200 of compensation was converted into a total of 1,760,000 shares of common stock at the market price of $0.67 per share from the Company’s 2010 Long-Term Incentive Plan, as amended.

Related Party Transactions

9 Months Ended

Sep. 30, 2021

NOTE 6 – RELATED PARTY TRANSACTIONS

A member of the Company’s board of directors (“Board”) had previously advanced to the Company an aggregate amount of $1,354,567 as of September 30, 2021 and December 31, 2020 which is 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, 2021 and 2020 was $3,386 and $3,386, respectively and $10,159 and $10,159 for the nine months ended September 30, 2021, respectively. Compensation and interest payable to the board member is included in Other payables in the accompanying condensed consolidated balance sheet totaling $404,646 and $382,486 as of September 30, 2021 and December 31, 2020, respectively.

The Company received advances totaling $1,147,192 and repaid $251,334 of the advances during the nine months ended September 30, 2021 from its Chairperson, Chief Executive Officer and Interim Chief Financial Officer. Total amounts owed were $1,702,705 and $779,861 and are recorded as Other payables – related parties on the accompanying condensed consolidated balance sheets as of September 30, 2021 and December 31, 2020, respectively. On July 8, 2019 the Company entered into a loan agreement in exchange for cash of RMB 4,770,000 ($738,379) 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 and further extended to July 9, 2022 on identical terms. Total interest expense related to the loan for the three months ended September 30, 2021 and 2020 was $7,526 and $7,282, respectively and $22,576 and $21,846 for the nine months ended September 30, 2021 and 2020, respectively. Compensation payable to the Chairperson, Chief Executive Officer and Interim Chief Financial Officer is included in Other payables in the accompanying condensed consolidated balance sheet totaling $645,328 and $1,815,990 as of September 30, 2021 and December 31, 2020, respectively. As discussed more fully in Note 12, an aggregate of $1,179,200 of compensation was converted into a total of 1,760,000 shares of common stock at the market price of $0.67 per share from the Company’s 2010 Long-Term Incentive Plan, as amended.