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Related Party Transactions and Balances (Tables) | 12 Months Ended
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Sep. 30, 2020
Related Party Transactions [Abstract] |
Schedule of material related party transactions |
|  | As of September 30, |
|  | 2019 |  |  | 2020 |
Jiangsu Xinzhongtian Suye Co., Ltd. (h)(1) |  | $ | 566,953 |  |  | $ | 419,758 |
Jianhui Ye (f) (2) |  |  | - |  |  |  | 119,035 |
Huajian Xu (c)(2) |  |  | 14,138 |  |  |  | 19,471 |
Beijing Weiqi Technology Co., Ltd.(k) (3) |  |  | - |  |  |  | 17,790 |
Yan Fang(e)(2) |  |  | - |  |  |  | 981 |
Changzhou Cenbird Electric Bicycle Manufacturing Co., Ltd. (g)(4) |  |  | 1,128,702 |  |  |  | - |
Huiyan Xie (b)(2) |  |  | 32,885 |  |  |  | - |
Shuang Wu (d)(2) |  |  | 10,412 |  |  |  | - |
Amount due from related parties-current |  | $ | 1,753,090 |  |  | $ | 577,035 |
Changzhou Cenbird Electric Bicycle Manufacturing Co., Ltd.(5) |  | $ | 282,769 |  |  | $ | 294,568 |
Amount due from related parties-non-current |  | $ | 282,769 |  |  | $ | 294,568 |
|  | As of September 30, |
|  | 2019 |  |  | 2020 |
Changzhou Cenbird Electric Bicycle Manufacturing Co., Ltd. (g) (1) |  | $ | - |  |  | $ | 340,340 |
Huajian Xu(c) (2) |  |  | - |  |  |  | 287,270 |
Shuang Wu(d) (2) |  |  | - |  |  |  | 72,847 |
Huiyan Xie(b)(2) |  |  | - |  |  |  | 32,557 |
Jianhui Ye (f) (3) |  |  | 4,248,611 |  |  |  | 20,312 |
Shenzhen Star Asset Management Co., Ltd. (i) (1) |  |  | 101,302 |  |  |  | 957 |
Amount due to related parties |  | $ | 4,349,913 |  |  | $ | 754,283 |
| (1) | The balance mainly represented the prepayments for purchasing e-bicycle gears and e-bicycles.
| (2) | The balances mainly represented the advances made to the managements for the Company’s daily operational purposes.
(3) | The balance represented the receivable generated from the sales of e-bicycles.
(4) | The balance mainly consisted of the prepayments for applying China Compulsory Certification (“3C”) for e-bicycles and the prepayments for applying quality certificate for e-bicycles.
| (5) | The balance mainly represented the deposit for conducting original design manufacture (“ODM”) of e-bicycles and the deposit will be returned in one year after the termination of the contract or after the Company stops selling produced e-bicycles.
(1) | The balances represented the payable for purchasing e-bicycles.
(2) | The balances mainly represented the expenses paid on behalf of the Company for IPO or daily operation.
(3) | The balance as of September 30, 2019 represented the loan provided by Jianhui Ye to the Company due to temporary operation fund requirement. This loan was interest free and due on demand. For the year ended September 30, 2020, the Company fully repaid the loan. The balance as of September 30, 2020 represented the expenses paid on behalf of the Company for IPO.
Schedule of material related party transactions |
|  |  |  | For the years ended September 30, |
Related Parties |  | Nature |  | 2018 |  |  | 2019 |  |  | 2020 |
Changzhou Cenbird Electric Bicycle Manufacturing Co., Ltd (g) |  | Purchase of e-bicycles from a related party |  | $ | - |  |  | $ | - |  |  | $ | (4,538,100 | )
Changzhou Cenbird Electric Bicycle Manufacturing Co., Ltd (g) |  | Interest-free loan to a related party |  |  | - |  |  |  | - |  |  |  | 856,458 |
Changzhou Cenbird Electric Bicycle Manufacturing Co., Ltd (g) |  | Collection of loan to a related party |  |  | - |  |  |  | - |  |  |  | (856,458 | )
Jiangsu Xinzhongtian Suye Co., Ltd (h) |  | Purchase of e-bicycles, gears and parts from a related party |  |  | - |  |  |  | - |  |  |  | (851,606 | )
Jiangsu Xinzhongtian Suye Co., Ltd (h) |  | Rental fee and utility fee |  |  | - |  |  |  | - |  |  |  | (63,378 | )
Jiangsu Xinzhongtian Suye Co., Ltd (h) |  | Interest-free loan to a related party |  |  | - |  |  |  | - |  |  |  | 185,566 |
Jiangsu Xinzhongtian Suye Co., Ltd (h) |  | Collection of loan to a related party |  |  | - |  |  |  | - |  |  |  | (186,993 | )
Jiangsu Yimao Pure Electric Bus Co., Ltd. (j) |  | Purchase of lithium batteries for battery rental services |  |  | (1,785,821 | ) |  |  | - |  |  |  | - |
Jiangsu Yimao Pure Electric Bus Co., Ltd. (j) |  | Payment on behalf of Yimao to its supplier |  |  | 114,718 |  |  |  | - |  |  |  | - |
Jiangsu Yimao Pure Electric Bus Co., Ltd. (j) |  | Purchase of battery cells for battery cell trading business |  |  | - |  |  |  | (5,334,619 | ) |  |  | - |
Jiangsu Yimao Pure Electric Bus Co., Ltd. (j) |  | Purchase of raw materials and finished goods |  |  | - |  |  |  | (2,428,036 | ) |  |  | - |
Henglong Chen (a) |  | Interest-free loan to a shareholder* |  |  | 1,292,731 |  |  |  | 1,857,441 |  |  |  | 377,634 |
Henglong Chen (a) |  | Collection of loan from a shareholder * |  |  | (400,619 | ) |  |  | (683,880 | ) |  |  | (391,116 | )
Henglong Chen (a) |  | Transfer of third-party loans to a related party* |  |  | 542,491 |  |  |  | 59,682 |  |  |  | - |
Huiyan Xie |  | Interest-free loan to a related party |  |  | - |  |  |  | 101,896 |  |  |  | - |
Huiyan Xie |  | Collection of loan from a related party |  |  | - |  |  |  | (101,896 | ) |  |  | - |
Shenzhen Star Asset Management Co., Ltd. (i) |  | Rental expenses of e-bicycles |  |  | (171,714 | ) |  |  | (176,862 | ) |  |  | - |
Shenzhen Star Asset Management Co., Ltd. (i) |  | Disposal of e-bicycles on behalf of a related party |  |  | - |  |  |  | (291,131 | ) |  |  | - |
Shenzhen Star Asset Management Co., Ltd. (i) |  | Purchase of e-bicycles from a related party |  |  | - |  |  |  | (873,394 | ) |  |  | - |
Jianhui Ye (f) |  | Interest-free loan from a related party |  |  | - |  |  |  | (4,374,249 | ) |  |  | - |
Jianhui Ye (f) |  | Repayment of interest-free loan to a related party |  |  | - |  |  |  | - |  |  |  | 4,289,426 |
Beijing Weiqi Technology Co., Ltd (k) |  | Sales of e-bicycles to a related party |  |  | - |  |  |  | - |  |  |  | 107,314 |
* | The interest-free loan made to Henglong Chen, a significant shareholder and former Chairman of the Board of the Company, net of repayment was recognized as a deduction to the Company’s equity, see Note 14d. The loan made to Henglong Chen which was for his personal purpose violated Sarbanes-Oxley Act section 402 due to the lack of internal control in term of related party borrowings, however, the balance as of September 30, 2020 is expected to be collected within half year upon the completion of the Company’s IPO, with the funds from the sales of Henglong Chen’s own real estate property in PRC and financial assets he invested in other institutions.

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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
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