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Loans Payable (Tables) | 9 Months Ended
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Sep. 30, 2019
Debt Disclosure [Abstract] |
Schedule of short-term bank loans |
|  |  |  | September 30, |  |  | December 31, |
|  |  |  | 2019 |  |  | 2018 |
Industrial and Commercial Bank of China ("ICBC") Loan 1 |  | (a) |  | $ | - |  |  | $ | 4,079,730 |
Bank of Cangzhou |  | (b) |  |  | - |  |  |  | 5,099,662 |
ICBC Loan 2 |  | (c) |  |  | 2,544,925 |  |  |  | 2,622,683 |
ICBC Loan 3 |  | (d) |  |  | 3,817,387 |  |  |  | - |
Total short-term bank loans |  |  |  | $ | 6,362,312 |  |  | $ | 11,802,075 |
Schedule of loans payable |
|  | September 30, |  |  | December 31, |
|  | 2019 |  |  | 2018 |
Rural Credit Union of Xushui District Loan 1 |  | $ | 1,215,909 |  |  | $ | 1,253,060 |
Rural Credit Union of Xushui District Loan 2 |  |  | 3,534,617 |  |  |  | 3,642,615 |
Rural Credit Union of Xushui District Loan 3 |  |  | - |  |  |  | 2,302,133 |
Rural Credit Union of Xushui District Loan 4 |  |  | 2,262,156 |  |  |  | - |
Total |  |  | 7,012,682 |  |  |  | 7,197,808 |
Less: Current portion of long-term loans from credit union |  |  | (311,046 | ) |  |  | (2,491,549 | )
Long-term loans from credit union |  | $ | 6,701,636 |  |  | $ | 4,706,259 |
Schedule of long-term debt repayments |
|  | Amount |
Fiscal year |  |  |  |
Remainder of 2019 |  | $ | 226,216 |
2020 |  |  | 1,215,909 |
2021 |  |  | 1,329,016 |
2022 |  |  | 1,555,232 |
2023 |  |  | 2,686,309 |
Total |  |  | 7,012,682 |

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
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- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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