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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (275,891) $ (11,306,145)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Amortization of OID and debt issuing costs of notes 45,833 84,661
Stock compensation expense 10,999
Operating lease expenses 49,034
Bad debts expense (reversal) (1,659,101) 5,508,377
Loss on disposal of 40% ownership of Fund Management Co 46,761
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
Loss (gain) on note conversion 496,853 (24,240)
Interest expense-inducement on note conversion 893,958
Changes in deferred tax (3,044,371)
Changes in assets and liabilities:    
Interest receivable on sales type leases (171,506)
Collection of principal on sales type leases 13,959,334
Accounts receivable 43,765,943 64,306
Prepaid expenses (8,339) (20,320)
Other receivables (3,141) (132,920)
Accounts payable (2,857,402)
Taxes payable (2,133,778) (1,323,919)
Payment of lease liability (57,442)
Interest payable on entrusted loan 962,052 5,551,651
Accrued liabilities and other payables 46,968 (109,867)
Refundable deposit for systems leasing (481,462)
Net cash provided by (used in) operating activities 55,199,324 (6,084,671)
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:    
Issuance of notes payable 2,000,000
Issuance of common stock 497,187 3,309,475
Net cash provided by financing activities 497,187 5,309,475
EFFECT OF EXCHANGE RATE CHANGE ON CASH 1,869,350 (1,607,514)
NET INCREASE (DECREASE) IN CASH 57,565,861 (2,377,604)
CASH, BEGINNING OF PERIOD 16,221,297 53,223,142
CASH, END OF PERIOD 73,787,158 50,845,538
Supplemental cash flow data:    
Income tax paid 223,369
Interest paid
Supplemental disclosure of non-cash operating activities    
Transfer of Tian’an project from construction in progress to accounts receivable 23,771,386
Supplemental disclosure of non-cash operating and financing activities    
Transfer of Xuzhou Huayu Project and Shenqiu Phase I & II projects to Mr. Bai 34,931,358
Conversion of convertible debt into common shares 1,272,000
Conversion of long-term notes into common shares $ 1,442,086