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Discontinued Operation | 12 Months Ended
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Sep. 30, 2020
Discontinued Operations and Disposal Groups [Abstract] |
DISCONTINUED OPERATION |
12. | DISCONTINUED OPERATION
In November 2018, the Company entered into an agreement with a third-party company (the “Buyer”) to dispose the battery cell production line. The production line was disposed in December 2018. After the disposal, the Company is no longer engaged in the manufacturing of battery cells. The disposal of the production line was treated as a discontinued operation for all years presented. The assets and liabilities of the discontinued operation, which are included in “Current assets of discontinued operation” and “Current liabilities of discontinued operation”, on the Consolidated Balance Sheets, consist of the following:
|  | As of September 30, |
|  | 2019 |  |  | 2020 |
Assets of discontinued operation |  |  |  |  |  |
Accounts receivable* |  | $ | 112,921 |  |  | $ | 102,449 |
Total current assets |  |  | 112,921 |  |  |  | 102,449 |
Total assets |  | $ | 112,921 |  |  | $ | 102,449 |
Liabilities of discontinued operation |  |  |  |  |  |  |  |
Accounts payable |  |  | 307,782 |  |  |  | 314,756 |
Advance from customers |  |  | 34,040 |  |  |  | 34,500 |
Other payable |  |  | 272,262 |  |  |  | 283,622 |
Income tax payable |  |  | 21,919 |  |  |  | 22,834 |
Total current liabilities |  |  | 636,003 |  |  |  | 655,712 |
Total liabilities |  | $ | 636,003 |  |  | $ | 655,712 |
| * | The accounts receivables as of September 30, 2020 has been subsequently collected in November 2020.
The following are revenues and income from discontinued operation:
|  | For the years ended September 30, |
|  | 2018 |  |  | 2019 |  |  | 2020 |
Net revenues |  | $ | 1,460,908 |  |  | $ | 2,511,527 |  |  | $ | - |
Cost of revenues |  |  | (1,731,605 | ) |  |  | (2,011,797 | ) |  |  | - |
Loss on the disposal of the production line |  |  | - |  |  |  | (151,298 | ) |  |  | - |
(Loss) income from discontinued operation before income tax |  |  | (270,697 | ) |  |  | 348,432 |  |  |  | - |
Income tax (benefit) expense |  |  | (67,674 | ) |  |  | 87,108 |  |  |  | - |
(Loss) income from discontinued operation, net of income tax |  | $ | (203,023 | ) |  | $ | 261,324 |  |  | $ | - |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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