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Notes Receivable - Bank Acceptance | 12 Months Ended
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Dec. 31, 2017
Notes Receivable - Bank Acceptance/ Other Receivables [Abstract] |
NOTES RECEIVABLE - BANK ACCEPTANCE | 3. NOTES RECEIVABLE – BANK ACCEPTANCE As of December 31, 2017 and 2016, the Company had outstanding notes receivable on-hand of $979,462 and $0, respectively, representing the bank acceptance that were issued by the suppliers to Erdos TCH and the payments were honored by the bank. Erdos TCH may hold the bank acceptance until the maturity for the full payment, or get cashed from the bank at a discount at an earlier date prior to maturity, or transfer the bank acceptance to its vendors in lieu of payment. As of December 31, 2017, Erdos TCH had $1.41 million bank acceptance that was transferred to one of its suppliers but haven’t matured; If the honored bank refuse to redeem the bank acceptance, then Erdos TCH would be obligated to redeem these bank acceptance.

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