XML 63 R14.htm IDEA: XBRL DOCUMENT v3.20.4
Prepaid Expenses and Other Current Assets, Net
 12 Months Ended
Sep. 30, 2020
Other Income and Expenses [Abstract]  
PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET
7. PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET

As of September 30, 2019 and 2020, prepaid expenses and other current assets consisted of the following:


   As of September 30, 
   2019   2020 
Prepaid IPO related expense(1)  $-   $759,365 
Receivable from disposal of property and equipment   -    342,023 
Prepaid rental fee   65,439    67,937 
Receivable from disposal of a production line(2)   1,056,400    14,394 
Loans to third parties   198,333    - 
Others   86,245    67,924 
Less: allowance for doubtful accounts   -    (14,394)
Prepaid expenses and other current assets  $1,406,417   $1,237,249 

(1)The balance represented prepaid professional fee for initial public offering (“IPO”), which will be deducted from the proceeds of IPO upon the completion of IPO, which was completed on January 28, 2021 (see Note 19).

(2)The balance represented the receivable from the disposal of the production line of battery cells, which mainly consisted of the consideration receivable of $738,284 and the technical consulting fee receivable of $318,116. The Company collected $1,042,006 for the year ended September 30, 2020 and the remaining $14,394 was considered as allowance for doubtful accounts as of September 30, 2020. The Company recorded allowance for doubtful accounts of $nil, $nil and $14,533 for the years ended September 30, 2018, 2019 and 2020, respectively.