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Commitments | 9 Months Ended
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Sep. 30, 2018
Commitments [Abstract] |
COMMITMENTS | 21. COMMITMENTS Lease Commitment On November 20, 2017, Xi’an TCH entered into a lease for its office with a term from December 1, 2017 through November 30, 2020. The monthly rent is RMB 36,536 ($5,600) with quarterly payment in advance. On August 2, 2018, the Company entered into a lease for its office use in Beijing with a term from August 4, 2018 through August 3, 2020. The monthly rent is RMB 22,000 ($3,340) with quarterly payment in advance. At September 30, 2018, the future annual rental payment is as follows:
September 30, 2019 | $ 107,240
September 30, 2020 | 103,580
November 30, 2020 | 11,200
For the nine and three months ended September 30, 2018, the rental expense of the Company was $56,643 and $23,043, respectively. For the nine and three months ended September 30, 2017, the rental expense of Xi’an TCH was $188,910 and $70,497, respectively. Construction Commitment Refer to Note 1 for additional details related to lease commitments with Tianyu (and its subsidiaries Xuzhou Tian’an and Xuzhou Huayu), Note 8 for commitments on construction in progress.

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- Definition The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI http://asc.fasb.org/topic&trid=2144648 + Details
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