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Loan Receivable | 12 Months Ended
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Dec. 31, 2019
Receivables [Abstract] |
Loan Receivable | 13. LOAN RECEIVABLE
|  | December 31, 2019 |  |  | December 31 2018 |
Loan receivable |  | $ | - |  |  | $ | 2,180,655 |
|  | $ | - |  |  | $ | 2,180,655 |
In September 2018, the Company entered into loan agreement with a certain unrelated party, under which the Company loaned a total of $2,180,655 to this third party with interest rate of 6.09% per annum. The loan matured on December 31, 2019, and the loan principal was fully collected as of December 31, 2019. The interest income for the year ended December 31, 2019 and 2018 was approximately $132,000 and $33,000, respective, and was fully collected in April 2020.

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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- References No definition available. + Details
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