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Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
CURRENT ASSETS    
Cash $ 62,666,385 $ 16,221,297
Accounts receivable, net 31,793,218 42,068,760
Interest receivable on sales type leases 5,245,244
Prepaid expenses 51,078 52,760
Other receivables 44,653 1,031,143
Total current assets 94,555,334 64,619,204
NON-CURRENT ASSETS    
Investment in sales-type leases, net 8,287,560
Long term deposit 15,712
Operating lease right-of-use assets, net 21,655 54,078
Property and equipment, net 26,649,769 27,044,385
Construction in progress 23,824,202
Total non-current assets 26,671,424 59,225,937
TOTAL ASSETS 121,226,758 123,845,141
CURRENT LIABILITIES    
Accounts payable 2,168,116 2,200,220
Taxes payable 2,483,681 4,087,642
Accrued interest on notes 3,935
Notes payable, net of unamortized OID 913,410
Accrued liabilities and other payables 1,165,256 1,184,751
Operating lease liability 25,611 56,755
Due to related parties 28,720 41,174
Interest payable on entrusted loans 8,711,500 8,200,044
Entrusted loan payable 20,181,378 20,480,214
Total current liabilities 35,681,607 36,250,800
NONCURRENT LIABILITIES    
Accrued interest on notes 368,362
Income tax payable 5,782,625 5,782,625
Notes payable, net of unamortized OID 1,552,376
Long term payable 423,759 430,034
Entrusted loan payable 282,506 286,689
Refundable deposit from customers for systems leasing 544,709
Total noncurrent liabilities 6,488,890 8,964,795
Total liabilities 42,170,497 45,215,595
CONTINGENCIES AND COMMITMENTS (NOTE 17 & 18)
STOCKHOLDERS’ EQUITY    
Common stock, $0.001 par value; 10,000,000 shares authorized, 2,493,197 shares and 2,032,721 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively 2,493 2,033
Additional paid in capital 117,995,829 116,682,374
Statutory reserve 14,666,206 14,525,712
Accumulated other comprehensive loss (7,415,203) (6,132,614)
Accumulated deficit (46,193,064) (46,447,959)
Total Company stockholders’ equity 79,056,262 78,629,546
TOTAL LIABILITIES AND EQUITY $ 121,226,758 $ 123,845,141