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Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash $ 152,628,291 $ 152,011,887
VAT receivable 190,444 189,622
Prepaid expenses 35,023 34,872
Other receivables 879,222 880,612
Total current assets 153,732,980 153,116,993
NON-CURRENT ASSETS    
Long term deposit 17,266 17,192
Operating lease right-of-use assets, net 117,077 132,549
Fixed assets, net 5,753 5,728
Total non-current assets 140,096 155,469
TOTAL ASSETS 153,873,076 153,272,462
CURRENT LIABILITIES    
Accounts payable 82,595 77,854
Taxes payable 3,081,178 3,075,233
Accrued interest on notes 24,109 333,443
Notes payable, net of unamortized OID of $125,000 and $225,605, respectively 5,374,962 6,741,444
Accrued liabilities and other payables 666,960 632,808
Operating lease liability 100,241 67,920
Due to related parties 24,326 27,357
Payable for purchase of 10% equity interest of Zhonghong 472,575 470,537
Interest payable on entrusted loans 380,966 379,323
Entrusted loan payable 12,129,422 12,077,105
Total current liabilities 22,337,334 23,883,024
NONCURRENT LIABILITIES    
Income tax payable 4,566,625 4,566,625
Operating lease liability 34,103 64,628
Total noncurrent liabilities 4,600,728 4,631,253
Total liabilities 26,938,062 28,514,277
CONTINGENCIES AND COMMITMENTS
STOCKHOLDERS’ EQUITY    
Common stock, $0.001 par value; 100,000,000 shares authorized, 7,358,052 and 7,044,408 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively 7,358 7,044
Additional paid in capital 163,549,358 161,531,565
Statutory reserve 15,157,790 15,180,067
Accumulated other comprehensive income 3,921,370 3,321,189
Accumulated deficit (55,700,862) (55,281,680)
Total Company stockholders’ equity 126,935,014 124,758,185
TOTAL LIABILITIES AND EQUITY $ 153,873,076 $ 153,272,462