XML 52 R35.htm IDEA: XBRL DOCUMENT v3.21.2
Summary of Significant Accounting Policies (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Summary of Significant Accounting Policies (Details) [Line Items]        
Net income   $ 670,000 $ 280,000  
Accumulated deficit $ 41,660,000 41,660,000    
Recognized total Right of Use Asset (“ROU”) $ 145,586 $ 145,586  
Accounts receivable, description   As of September 30, 2021 and December 31, 2020, the Company had gross accounts receivable of $0 and $342,974 of Erdos TCH for electricity sold, respectively. As of September 30, 2021 and December 31, 2020, the Company had bad debt allowance of $0 and $34,297 for Erdos TCH due to the customer not making the payments as scheduled, respectively. As of September 30, 2021, all outstanding accounts receivable balance was collected in full.     
Description of insurance policy   Balances at financial institutions and state-owned banks within the PRC are covered by insurance up to RMB 500,000 (US$76,000) per bank. Any balance over RMB 500,000 (US$76,000) per bank in PRC will not be covered. At September 30, 2021, cash held in the PRC bank of approximately $145,341,795 was not covered by such insurance. The Company has not experienced any losses in such accounts.    
Asset impairment loss   $ 0    
Shares of antidilutive securities under warrants and option (in Shares) 31,311 30,911    
Erdos TCH [Member]        
Summary of Significant Accounting Policies (Details) [Line Items]        
Net income   $ 1,390,000    
Net income (loss)   $ 560,000    
Business Acquisition [Member]        
Summary of Significant Accounting Policies (Details) [Line Items]        
Business acquisition, description   The CFS include the accounts of CREG and its subsidiaries, Shanghai Yinghua Financial Leasing Co., Ltd. (“Yinghua”) and Sifang Holdings; Sifang Holdings’ wholly owned subsidiaries, Huahong New Energy Technology Co., Ltd. (“Huahong”) and Shanghai TCH Energy Tech Co., Ltd. (“Shanghai TCH”); Shanghai TCH’s wholly-owned subsidiary, Xi’an TCH Energy Tech Co., Ltd. (“Xi’an TCH”); and Xi’an TCH’s subsidiaries, 1) Erdos TCH Energy Saving Development Co., Ltd (“Erdos TCH”), 100% owned by Xi’an TCH, 2) Zhonghong, 90% owned by Xi’an TCH and 10% owned by Shanghai TCH, and 3) Zhongxun, 100% owned by Xi’an TCH. Substantially all the Company’s revenues are derived from the operations of Shanghai TCH and its subsidiaries, which represent substantially all the Company’s consolidated assets and liabilities as of September 30, 2021. However, there was no revenue for the Company for the nine and three months ended September 30, 2021. All significant inter-company accounts and transactions were eliminated in consolidation.