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Loans Payable (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule of short-term bank loans

		June 30,				December 31,
		2020				2019
Industrial and Commercial Bank of China (“ICBC”) Loan 1		$	6,073,875			$	6,163,814
Total short-term bank loans		$	6,073,875			$	6,163,814

Schedule of loans payable

		June 30,				December 31,
		2020				2019
Rural Credit Union of Xushui District Loan 1		$	1,214,775			$	1,232,763
Rural Credit Union of Xushui District Loan 2			3,531,322				3,583,613
Rural Credit Union of Xushui District Loan 3			2,260,047				2,293,512
Rural Credit Union of Xushui District Loan 4			1,836,288				1,863,479
Total			8,842,432				8,973,367
Less: Current portion of long-term loans from credit union			(3,658,450	)			(1,605,459	)
Long-term loans from credit union		$	5,183,982			$	7,367,908

Schedule of long-term debt repayments

		Amount
Fiscal year
Remainder of 2020		$	1,582,033
2021			3,022,812
2022			1,553,782
2023			2,683,805
Total			8,842,432

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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.

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