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Bank Loans (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Short-Term Bank Debt

		December 31, 2020				December 31, 2019
Secured short-term loans		$	6,210,176			$	6,584,664
Total short-term bank loans		$	6,210,176			$	6,584,664

Schedule of Secured Short-Term Bank Debt

Detailed information of secured short-term loan balances as of December 31, 2020 and 2019 were as follows:

		December 31, 2020				December 31, 2019
Collateralized by office buildings of IST and guaranteed by Mr. Lin and Biznest		$	3,976,960			$	4,017,664
Guaranteed by IST and Mr. Lin and Collateralized by the real property of ISIOT and equity investment of ISTIL			2,019,072				1,985,874
Guaranteed by IST and guaranteed by Mr. Lin and guaranteed by DU YONG			-				258,278
Guaranteed by a $ 0.2 million restricted bank time deposit			214,144
Guaranteed by High-tech Investment Company(i) and Mr. Lin			-				322,848
Total		$	6,210,176			$	6,584,664

(i) High-tech Investment Company is an unrelated third party.

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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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=120391452&loc=d3e13212-122682

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