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Investment in Sales-Type Leases, Net
 12 Months Ended
Dec. 31, 2020
Investments [Abstract]  
INVESTMENT IN SALES-TYPE LEASES, NET

3. INVESTMENT IN SALES-TYPE LEASES, NET

 

Under sales-type leases, as of December 31, 2019, Xi’an TCH leases BMPG systems to Pucheng (Phase I and II, 15 and 11 year terms, respectively); The components of the net investment in sales-type leases as of December 31, 2020 and 2019 are as follows:

 

   2020   2019 
Total future minimum lease payments receivable  $
-
   $56,477,739 
Less: executory cost   
-
    (3,623,100)
Less: unearned interest   
-
    (14,905,393)
Less: realized interest income but not yet received   
-
    (5,245,244)
Less: allowance for net investment receivable   
-
    (24,416,442)
Investment in sales-type leases, net   
-
    8,287,560 
Current portion   
-
    
-
 
Noncurrent portion  $
-
   $8,287,560 

 

The ownership of Pucheng systems was transferred to Pucheng in January 2020 as a result of receiving full payment from Pucheng to Xi’an TCH.