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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 395,389 $ (7,205,383)
Adjustments to reconcile net income (loss)    
Amortization of OID and debt issuing costs of notes 39,583 72,161
Stock compensation expense 10,999
Operating lease expenses 32,502
Bad debts expense (reversal) (1,649,622) 2,824,901
Loss on disposal of 40% ownership of Fund Management Co 47,267
Loss on transfer of Chengli Boxing system 634,963
Loss on transfer of Xuzhou Huayu system 403,922
Loss on transfer of Shenqiu Phase I & II systems 211,975
Loss on disposal of fixed assets 293
Loss on notes redemption / conversion 198,330 893,958
Changes in deferred tax (2,364,088)
Changes in assets and liabilities:    
Interest receivable on sales type leases (173,360)
Collection of principal on sales type leases 13,879,575
Accounts receivable 35,552,191 65,001
Prepaid expenses 919
Other receivables (3,589) (1,074,031)
Accounts payable   (2,888,301)
Taxes payable (2,121,622) (1,283,246)
Payment of lease liability (31,174)
Interest payable on entrusted loan 635,375 3,720,566
Accrued liabilities and other payables 57,740 (371,026)
Refundable deposit for systems leasing (486,668)
Net cash provided by (used in) operating activities 46,996,596 (6,971,096)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from disposal of property & equipment 5,162
Net cash provided by investing activities 5,162
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of notes payable 2,000,000
Issuance of common stock 3,309,475
Net cash provided by financing activities 5,309,475
EFFECT OF EXCHANGE RATE CHANGE ON CASH (551,508) (80,341)
NET INCREASE (DECREASE) IN CASH 46,445,088 (1,736,800)
CASH, BEGINNING OF PERIOD 16,221,297 53,223,142
CASH, END OF PERIOD 62,666,385 51,486,342
Supplemental cash flow data:    
Income tax paid 225,784
Interest paid
Supplemental disclosure of non-cash operating activities    
Transfer of Tian’an project from construction in progress to accounts receivable 23,635,489
Supplemental disclosure of non-cash financing activities    
Transfer of Xuzhou Huayu Project and Shenqiu Phase I & II projects to Mr. Bai   35,938,441
Conversion of convertible debt into common shares   1,070,000
Conversion of long-term notes into common shares $ 1,104,586