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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Loss including noncontrolling interest $ (11,306,145) $ (4,355,391)
Adjustments to reconcile loss including noncontrolling interest to net cash used in operating activities:    
Depreciation 2,049
Amortization of OID and debt issuing costs of convertible note 84,661 7,767
Bad debt expense 5,508,377 3,262,588
Loss on disposal of 40% ownership of Fund Management Co 46,761
Investment loss 10,962
Loss on transfer of Chengli Boxing system 628,170
Loss on transfer of Xuzhou Huayu system 399,601
Loss on transfer of Shenqiu Phase I & II systems 209,707
Loss on disposal of fixed assets 289
Gain on note conversion (24,240)
Interest expense - inducement on note conversion 893,958
Changes in deferred tax (3,044,371) (1,589,864)
Changes in assets and liabilities:    
Interest receivable on sales type leases (171,506) 367,877
Collection of principal on sales type leases 2,453,103
Accounts receivable 64,306 (1,020,973)
Prepaid expenses (20,320) 699,076
Other receivables (132,920) (249,966)
Notes receivable 333,674
Construction in progress (7,156,966)
Accounts payable (2,857,402) 3,522,376
Taxes payable (1,323,919) 608,798
Interest payable on entrusted loan 5,551,651 5,851,446
Accrued liabilities and other payables (109,867) 647,733
Refundable deposit for systems leasing (481,462)
Net cash provide by (used in) operating activities (6,084,671) 3,394,289
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from disposal of property & equipment 5,106
Net cash provided by investing activities 5,106
CASH FLOWS FROM FINANCING ACTIVITIES:    
Convertible note payable 1,000,000
Issuance of notes payable 2,000,000
Issuance of common stock 3,309,475
Net cash provided by financing activities 5,309,475 1,000,000
EFFECT OF EXCHANGE RATE CHANGE ON CASH AND EQUIVALENTS (1,607,514) (3,281,877)
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS (2,377,604) 1,112,412
CASH AND EQUIVALENTS, BEGINNING OF PERIOD 53,223,142 49,830,243
CASH AND EQUIVALENTS, END OF PERIOD 50,845,538 50,942,655
Supplemental cash flow data:    
Income tax paid 223,369 1,160,017
Interest paid
Supplemental disclosure of non-cash operating activities    
Transfer of Xuzhou Huayu Project and Shenqiu Phase I & II project to Mr. Bai 34,931,358  
Supplemental disclosure of non-cash financing activities    
Conversion of notes into common shares $ 1,272,000