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RESTRICTED NET ASSETS OR PARENT COMPANY'S CONDENSED FINANCIAL STATEMENTS (Tables) | 12 Months Ended
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Dec. 31, 2019
RESTRICTED NET ASSETS OR PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION |
Schedule of condensed balance sheet | MDJM LTD CONDENSED BALANCE SHEETS As of December 31,
|  | 2019 |  | 2018
Assets |  |  |  |  |  |
Cash |  | $ | 4,995,834 |  | $ | 5,626,079
Prepaid expense |  |  | 1,532 |  |  | —
Current Assets |  |  | 4,997,366 |  |  | 5,626,079
Investment in subsidiaries |  |  | 4,621,653 |  |  | 4,144,076
Total Assets |  | $ | 9,619,019 |  | $ | 9,770,155
Liabilities and Equity |  |  |  |  |  |
Current liabilities |  | $ | 550 |  | $ | —
Due to subsidiaries |  |  | 940,734 |  |  | 1,565,174
Total liabilities |  |  | 941,284 |  |  | 1,565,174
Equity: |  |  |  |  |  |
Ordinary shares: 50,000,000 shares authorized, par value: $0.001 per share, 11,640,820 and 11,621,459 shares issued and outstanding as of December 31, 2019 and 2018, respectively |  |  | 11,641 |  |  | 11,621
Additional paid in capital |  |  | 6,734,681 |  |  | 6,664,295
Statutory reserve |  |  | 262,954 |  |  | 232,542
Retained earnings |  |  | 1,948,804 |  |  | 1,526,110
Accumulated other comprehensive loss |  |  | (280,345) |  |  | (229,587)
Total MDJM Ltd stockholders’ equity |  |  | 8,677,753 |  |  | 8,204,981
Total Liabilities and Equity |  | $ | 9,619,019 |  | $ | 9,770,155
Summary of condensed statements of operations | MDJM LTD CONDENSED STATEMENTS OF OPERATIONS AND COMPEREHENAIVE INCOME (LOSS) For the Years Ended December 31,
|  | 2019 |  | 2018
Revenue |  | $ | — |  | $ | —
Share of profit (loss) in subsidiaries |  |  | 453,106 |  |  | (515,971)
Start-up fees |  |  | — |  |  | 42,574
Other general and administrative expenses |  |  | 101,948 |  |  | —
Total Operating Expenses |  |  | 101,948 |  |  | 42,574
Income (loss) from operations |  |  | 351,158 |  |  | (558,545)
Interest income |  |  | 26,719 |  |  | —
Net Income / (Loss) |  | $ | 377,877 |  | $ | (558,545)
Other comprehensive income (loss): |  |  |  |  |  |
Foreign currency translation adjustments |  |  | (50,758) |  |  | (169,521)
Comprehensive income (loss) |  | $ | 327,119 |  | $ | (728,066)
*There were no operating activities in 2017 as MDJMLTD was incorporated in January 2018.
Schedule of statemeny of cash flows | MDJM LTD CONDENSED STATEMENTS OF CASH FLOWS
|  | For the Years Ended December 31
|  | 2019 |  | 2018
Net Cash Used in Operating Activities |  | $ | (76,211) |  | $ | (42,574)
Net Cash (Used in) Provided by Investing Activities |  |  | (624,440) |  |  | 1,565,174
Net Cash Provided by Financing Activities |  |  | 70,406 |  |  | 4,103,479
Net (decrease) increase in cash and cash equivalents |  |  | (630,245) |  |  | 5,626,079
Cash and cash equivalents - beginning of the year |  |  | 5,626,079 |  |  | —
Cash and cash equivalents - end of the year |  | $ | 4,995,834 |  | $ | 5,626,079
*There were no operating activities in 2017 as MDJM LTD was incorporated in January 2018.

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