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Consolidated Balance Sheets - USD ($)
Mar. 31, 2021
Dec. 31, 2020
CURRENT ASSETS    
Cash $ 144,071,303 $ 107,804,013
Accounts receivable, net 306,498 308,677
VAT receivable 183,978  
Prepaid expenses 54,225 55,420
Other receivables 30,513 35,687
Total current assets 144,646,517 108,203,797
NON-CURRENT ASSETS    
Long term deposit 16,680 16,799
Operating lease right-of-use assets, net 173,502
Asset subject to buyback 28,712,742 28,916,924
Total non-current assets 28,902,924 28,933,723
TOTAL ASSETS 173,549,441 137,137,520
CURRENT LIABILITIES    
Accounts payable 75,537 76,074
Taxes payable 2,744,649 3,145,612
Accrued interest on notes 81,968 18,968
Notes payable, net of unamortized OID of $125,605 and $144,355, respectively 3,024,395 3,005,645
Accrued liabilities and other payables 697,517 726,696
Operating lease liability 96,422  
Due to related parties 28,466 28,440
Interest payable on entrusted loans 10,072,599 10,144,228
Entrusted loan payable 21,742,131 21,896,744
Total current liabilities 38,563,684 39,042,407
NONCURRENT LIABILITIES    
Income tax payable 5,174,625 5,174,625
Operating lease liability 60,400  
Long term payable 456,531 459,777
Entrusted loan payable 304,354 306,518
Total noncurrent liabilities 5,995,910 5,940,920
Total liabilities 44,559,594 44,983,327
CONTINGENCIES AND COMMITMENTS (NOTE 15 & 16)
STOCKHOLDERS’ EQUITY    
Common stock, $0.001 par value; 10,000,000 shares authorized, 3,177,050 shares issued and outstanding as of March 31, 2021 and December 31, 2020 3,177 3,177
Shares to be issued 38,253,041  
Additional paid in capital 119,748,999 119,748,999
Statutory reserve 15,156,580 15,155,042
Accumulated other comprehensive income (loss) (866,723) 273,440
Accumulated deficit (43,305,227) (43,026,465)
Total Company stockholders’ equity 128,989,847 92,154,193
TOTAL LIABILITIES AND EQUITY $ 173,549,441 $ 137,137,520