XML 87 R2.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
CURRENT ASSETS    
Cash and equivalents $ 16,221,297 $ 53,223,142
Accounts receivable, net 42,068,760 11,755,251
Interest receivable on sales type leases 5,245,244 9,336,140
Prepaid taxes 52,760 32,395
Other receivables 1,031,143 1,559,116
Total current assets 64,619,204 75,906,044
NON-CURRENT ASSETS    
Investment in sales-type leases, net 8,287,560 24,962,056
Long term investment 475,635
Long term deposit 15,712 15,971
Operating lease right-of-use asset, net 54,078
Property and equipment, net 27,044,385 27,495,049
Construction in progress 23,824,202 42,582,177
Total non-current assets 59,225,937 95,530,888
TOTAL ASSETS 123,845,141 171,436,932
CURRENT LIABILITIES    
Accounts payable 2,200,220 5,591,876
Taxes payable 4,087,642 3,636,559
Accrued liabilities and other payables 1,184,751 1,617,997
Operating lease liability 56,755
Due to related parties 41,174 41,168
Interest payable on entrusted loans 8,200,044 17,473,492
Entrusted loan payable 20,480,214 48,373,936
Total current liabilities 36,250,800 76,735,028
NONCURRENT LIABILITIES    
Convertible note payable, net of unamortized debt discount 1,016,589
Accrued interest on notes 368,362 40,572
Income tax payable 5,782,625 6,390,625
Deferred tax liability, net 3,040,346
Notes payable, net of unamortized OID 1,552,376
Long term payable 430,034
Entrusted loan payable 286,689
Refundable deposit from customers for systems leasing 544,709 1,034,503
Total noncurrent liabilities 8,964,795 11,522,635
Total liabilities 45,215,595 88,257,663
CONTINGENCIES AND COMMITMENTS (NOTE 19 & 20)
STOCKHOLDERS' EQUITY    
Common stock, $0.001 par value; 10,000,000 shares authorized, 2,032,721 shares and 1,029,528 shares issued and outstanding as of December 31, 2019 and 2018, respectively 2,033 1,030
Additional paid in capital 116,682,374 114,493,283
Statutory reserve 14,525,712 14,525,712
Accumulated other comprehensive loss (6,132,614) (4,620,930)
Accumulated deficit (46,447,959) (37,675,202)
Total Company stockholders' equity 78,629,546 86,723,893
Noncontrolling interest (3,544,624)
Total equity 78,629,546 83,179,269
TOTAL LIABILITIES AND EQUITY $ 123,845,141 $ 171,436,932