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Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenue        
Contingent rental income $ 1,144,237 $ 702,973 $ 3,948,505
Interest income on sales-type leases 506,971 173,360 2,771,452
Total operating income 1,651,208 876,333 6,719,957
Operating expenses        
Bad debts 2,683,474 2,463,587 5,508,377 3,299,458
Loss on disposal of systems 1,250,731
General and administrative 142,681 1,271,810 2,160,017 4,128,345
Total operating expenses 2,826,155 3,735,397 8,919,125 7,427,803
Loss from operations (2,826,155) (2,084,189) (8,042,792) (707,846)
Non-operating income (expenses)        
Gain on note conversion 24,240 24,240
Interest income 38,293 36,722 120,903 113,942
Interest expense (2,094,899) (1,116,642) (5,888,819) (4,035,107)
Interest expense - inducement on note conversion     (893,958)
Other income (expense), net 1,919 1,903 332,397 622
Total non-operating expenses, net (2,030,447) (1,078,017) (6,305,237) (3,920,543)
Loss before income tax (4,856,602) (3,162,206) (14,348,029) (4,628,389)
Income tax benefit (755,840) (540,916) (3,041,884) (272,998)
Loss before noncontrolling interest (4,100,762) (2,621,290) (11,306,145) (4,355,391)
Less: loss attributable to noncontrolling interest (86,052) (273,235)
Net loss attributable to China Recycling Energy Corporation (4,100,762) (2,535,238) (11,306,145) (4,082,156)
Other comprehensive items        
Foreign currency translation loss attributable to China Recycling Energy Corporation (2,486,200) (6,110,231) (2,582,759) (8,090,700)
Foreign currency translation gain attributable to noncontrolling interest 22,735 35,361
Comprehensive loss attributable to China Recycling Energy Corporation (6,586,962) (8,645,469) (13,888,904) (12,172,856)
Comprehensive loss attributable to noncontrolling interest $ (63,317) $ (237,874)
Basic weighted average shares outstanding 16,159,194 8,310,198 14,671,142 8,310,198
Diluted weighted average shares outstanding 16,159,194 8,310,198 14,671,142 8,310,198
Basic loss per share $ (0.25) $ (0.31) $ (0.77) $ (0.49)
Diluted loss per share [1] $ (0.25) $ (0.31) $ (0.77) $ (0.49)
[1] The basic and diluted loss per share are the same due to antidilutive options and warrants resulting from the Company's net loss.