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v3.20.1

Investment in Sales-Type Leases, Net | 12 Months Ended
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Dec. 31, 2019
Investments [Abstract] |
INVESTMENT IN SALES-TYPE LEASES, NET | 3. INVESTMENT IN SALES-TYPE LEASES, NET Under sales-type leases, in 2019 and 2018, 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). On February 15, 2019, Xi'an TCH transferred the Shenqiu Phase I and II Projects to Mr. Bai for RMB 127,066,000 ($18.55 million). The components of the net investment in sales-type leases as of December 31, 2019 and 2018 are as follows:
|  | 2019 |  |  | 2018 |
Total future minimum lease payments receivable |  | $ | 56,477,739 |  |  | $ | 88,661,266 |
Less: executory cost |  |  | (3,623,100 | ) |  |  | (5,687,704 | )
Less: unearned interest |  |  | (14,905,393 | ) |  |  | (19,398,707 | )
Less: realized interest income but not yet received |  |  | (5,245,244 | ) |  |  | (9,336,141 | )
Less: allowance for net investment receivable |  |  | (24,416,442 | ) |  |  | (29,276,658 | )
Investment in sales-type leases, net |  |  | 8,287,560 |  |  |  | 24,962,056 |
Current portion |  |  | - |  |  |  | - |
Noncurrent portion |  | $ | 8,287,560 |  |  | $ | 24,962,056 |
As of December 31, 2019, the gross future minimum rentals not including bad debt allowances to be received on non-cancelable sales-type leases by years were as follows:
2020 |  | $ | 27,063,444 |
2021 |  |  | 6,536,510 |
2022 |  |  | 6,536,510 |
2023 |  |  | 6,536,510 |
2024 |  |  | 6,536,510 |
Thereafter |  |  | 3,268,255 |
Total |  | $ | 56,477,739 |

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