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Fair Value (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of black-bholes-merton pricing model

Stock price		$	1.89 ~ 2.43
Exercise price		$	11.50
Expected term in years			4.46 ~ 5.00
Expected dividend yield			0	%
Volatility			54.44% ~ 54.92	%
Risk-free interest Rate			0.364% ~ 0.373	%

Schedule of fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis

		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total
Assets
Listed equity securities		$	17,622			$	-			$	-			$	17,622
Liabilities
Derivatives		$	-			$	(5,653	)		$	-			$	(5,653	)
Warrant liabilities (as restated)			(1,000,500	)			(469,321	)			-				(1,469,821	)
		$	(1,000,500	)		$	(474,974	)		$	-			$	(1,475,474	)

		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total
Assets
Listed equity securities		$	180,201			$	—			$	—			$	180,201
Derivatives			—				194,110				—				194,110
		$	180,201			$	194,110			$	—			$	374,311

Schedule of Black-Bholes-Merton pricing model

						Quoted Prices
						in Active				Significant				Significant
		Total				Markets for				Observable				Unobservable
		Carrying				Identical Assets				Inputs				Inputs				Estimated
		Value				(Level 1)				(Level 2)				(Level 3)				Fair Value
Assets
Cash and cash equivalents		$	3,426,467			$	3,426,467			$	-			$	-			$	3,426,467
Bank balances held on behalf of customers			1,367,630				1,367,630				-				-				1,367,630
Receivables from broker-dealers and clearing organizations			8,089,193				-				8,089,193				-				8,089,193
Short-term loans receivable			2,239,378				-				2,239,378				-				2,239,378
Commissions receivable			71,253				-				71,253				-				71,253
Other receivables			724,708				-				724,708				-				724,708
		$	15,918,629			$	4,794,097			$	10,399,824			$	-			$	15,918,629
Liabilities
Payables to customers		$	5,221,270			$	-			$	5,221,270			$	-			$	5,221,270
Payable to broker-dealers			3,845,740				-				3,845,740				-				3,845,740
Commissions payable			39,180				-				39,180				-				39,180
Accrued expenses and other payables			1,763,094				-				1,763,094				-				1,763,094
Short-term borrowings			293,905				-				293,905				-				293,905
Due to director			149,522				-				149,522				-				149,522
		$	11,312,711			$	-			$	11,312,711			$	-			$	11,312,711

						Quoted Prices
						in Active				Significant				Significant
		Total				Markets for				Observable				Unobservable
		Carrying				Identical Assets				Inputs				Inputs				Estimated
		Value				(Level 1)				(Level 2)				(Level 3)				Fair Value
Assets
Cash and cash equivalents		$	6,388,978			$	6,388,978			$	—			$	—			$	6,388,978
Bank balances held on behalf of customers			2,192,201				2,192,201				—				—				2,192,201
Receivables from broker-dealers and clearing organizations			1,684,961				—				1,684,961				—				1,684,961
Short-term loans receivable			1,637,310				—				1,637,310				—				1,637,310
Commissions receivable			88,560				—				88,560				—				88,560
Other receivables			166,064				—				166,064				—				166,064
		$	12,158,074			$	8,581,179			$	3,576,895			$	—			$	12,158,074
Liabilities
Payables to customers		$	3,853,693			$	—			$	3,853,693			$	—			$	3,853,693
Commissions payable			29,439				—				29,439				—				29,439
Dividends payable			385,901				—				385,901								385,901
Accrued expenses and other payables			417,445				—				417,445				—				417,445
Short-term borrowings			1,412,570				—				1,412,570								1,412,570
Short-term borrowings from related party			128,415				—				128,415				—				128,415
		$	6,227,463			$	—			$	6,227,463			$	—			$	6,227,463

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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- Definition

Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

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