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Organization and Business Background (Tables) | 12 Months Ended
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Dec. 31, 2021
Organization and Business Background [Abstract] |
Schedule of subsidiaries and variable interest entity |
|  | Date of |  | Place of |  | Percentage |  |  |
|  | Incorporation |  | Incorporation or |  | of |  |  |
Name |  | or Establishment |  | Establishment |  | Ownership |  |  | Principal Activity
Subsidiary: |  |  |  |  |  |  |  |  |
Dongfang Holding |  | November 13, 2006 |  | BVI |  |  | 100 | % |  | Inactive investment holding
Shengde Holdings |  | February 25, 2009 |  | State of Nevada |  |  | 100 | % |  | Investment holding
Baoding Shengde |  | June 1, 2009 |  | PRC |  |  | 100 | % |  | Paper production and distribution
Variable interest entity (“VIE”): |  |  |  |  |  |  |  |  |  |
Dongfang Paper |  | March 10, 1996 |  | PRC |  |  | Control* |  |  | Paper production and distribution
Schedule of aggregate aggregate carrying value of Dongfang Paper’s assets and liabilities |
|  | December 31, |  |  | December 31, |
|  | 2021 |  |  | 2020 |
ASSETS |  |  |  |  |  |
Current Assets |  |  |  |  |  |
Cash and bank balances |  | $ | 1,921,407 |  |  | $ | 3,315,778 |
Restricted cash |  |  | - |  |  |  | - |
Accounts receivable |  |  | 4,867,759 |  |  |  | 2,389,057 |
Inventories |  |  | 5,823,762 |  |  |  | 1,223,020 |
Prepayments and other current assets |  |  | 19,942,878 |  |  |  | 7,051,381 |
Due from related parties |  |  | 888,893 |  |  |  | 92,795 |
Total current assets |  |  | 33,444,699 |  |  |  | 14,072,031 |
Prepayment on property, plant and equipment |  |  | 41,877,755 |  |  |  | 19,617,159 |
Finance lease right-of-use assets, net |  |  | 2,286,459 |  |  |  | 2,397,653 |
Property, plant, and equipment, net |  |  | 116,054,387 |  |  |  | 133,134,932 |
Deferred tax asset non-current |  |  | 9,547,741 |  |  |  | 12,040,962 |
Total Assets |  | $ | 203,211,041 |  |  | $ | 181,262,737 |
LIABILITIES |  |  |  |  |  |  |  |
Current Liabilities |  |  |  |  |  |  |  |
Short-term bank loans |  | $ | 5,958,561 |  |  | $ | 6,435,348 |
Current portion of long-term loans from credit union |  |  | 2,289,945 |  |  |  | 551,733 |
Lease liability |  |  | 210,161 |  |  |  | 182,852 |
Accounts payable |  |  | 10,255 |  |  |  | 592,391 |
Advance from customers |  |  | 39,694 |  |  |  | 82,625 |
Due to related parties |  |  | - |  |  |  | - |
Accrued payroll and employee benefits |  |  | 279,513 |  |  |  | 221,482 |
Other payables and accrued liabilities |  |  | 4,740,900 |  |  |  | 4,672,265 |
Income taxes payable |  |  | 1,108,038 |  |  |  | 259,649 |
Total current liabilities |  |  | 14,637,067 |  |  |  | 12,998,345 |
Loans from credit union |  |  | 2,980,065 |  |  |  | 4,597,772 |
Deferred gain on sale-leaseback |  |  | 155,110 |  |  |  | 387,087 |
Lease liability - non-current |  |  | 152,233 |  |  |  | 354,107 |
Total liabilities |  | $ | 17,924,475 |  |  | $ | 17,950,224 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472 + Details
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- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=123419778&loc=SL6759159-111685 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5747-111685 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123419778&loc=SL6228884-111685 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5728-111685 + Details
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