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Investment in Sales-Type Leases, Net

12 Months Ended

Dec. 31, 2018

4. INVESTMENT IN SALES-TYPE LEASES, NET

Under sales-type leases, Xi’an TCH leases the following systems: (i) BMPG systems to Pucheng Phase I and II (15 and 11 year terms, respectively); (ii) BMPG systems to Shenqiu Phase I (11-year term); and (iii) BMPG systems to Shenqiu Phase II (9.5-year term). The components of the net investment in sales-type leases as of December 31, 2018 and 2017 are as follows:

	2018			2017
Total future minimum lease payments receivable	$	88,661,266		$	99,155,214
Less: executory cost		(5,687,704	)		(6,360,901	)
Less: unearned interest		(19,398,707	)		(23,730,094	)
Less: realized interest income but not yet received		(9,336,141	)		(9,619,278	)
Less: allowance for net investment receivable		(29,276,658	)		(1,802,822	)
Investment in sales-type leases, net		24,962,056			57,642,119
Current portion		-			11,531,745
Noncurrent portion	$	24,962,056		$	46,110,374

As of December 31, 2018, the future minimum rentals to be received on non-cancelable sales-type leases by year are as follows:

2019	$	36,251,311
2020		12,414,034
2021		12,414,034
2022		10,971,558
2023		6,644,132
Thereafter		9,966,197
Total	$	88,661,266