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Loans Payable (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Schedule of short-term bank loans

		September 30,				December 31,
		2020				2019
Industrial and Commercial Bank of China (“ICBC”) Loan 1		$	6,314,151			$	6,163,814
Total short-term bank loans		$	6,314,151			$	6,163,814

Schedule of loans payable

		September 30,				December 31,
		2020				2019
Rural Credit Union of Xushui District Loan 1		$	1,262,830			$	1,232,763
Rural Credit Union of Xushui District Loan 2			3,671,018				3,583,613
Rural Credit Union of Xushui District Loan 3			2,349,452				2,293,512
Rural Credit Union of Xushui District Loan 4			1,908,929				1,863,479
Total			9,192,229				8,973,367
Less: Current portion of long-term loans from credit union			(3,803,175	)			(1,605,459	)
Long-term loans from credit union		$	5,389,054			$	7,367,908

Schedule of long-term debt repayments

		Amount
Fiscal year
Remainder of 2020		$	1,644,616
2021			3,142,391
2022			1,615,248
2023			2,789,974
Total			9,192,229

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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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