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Concentrations

12 Months Ended

Sep. 30, 2020

Risks and Uncertainties [Abstract]

CONCENTRATIONS

17. CONCENTRATIONS

Concentrations of Credit Risk

As of September 30, 2019 and 2020, cash, cash equivalents and restricted cash balances in the PRC are $3,633,645 and $340,530, respectively, which were primarily deposited in financial institutions located in Mainland China, and each bank account is insured by the government authority with the maximum limit of RMB500,000 (equivalent to $70,692). To limit exposure to credit risk relating to deposits, the Company primarily place cash and cash equivalent deposits with large financial institutions in China which management believes are of high credit quality and management also continually monitors the financial institutions’ credit worthiness.

Concentrations of Customers

The following table sets forth information as to each customer that accounted for 10% or more of total accounts receivable as of September 30, 2019 and 2020.

		As of September 30, 2019								As of September 30, 2020
Customer		Amount				% of Total				Amount				% of Total
A		$	-				-			$	2,390,789				36	%
B			-				-				644,120				10	%
C			44,961				39	%			-				-
D			22,622				20	%			-				-
E			15,396				13	%			-				-
Total		$	82,979				72	%		$	3,034,909				46	%

The following table sets forth information as to each customer that accounted for 10% or more of total revenue for the years ended September 30, 2018, 2019 and 2020.

		Year ended September 30, 2018								Year ended September 30, 2019								Year ended September 30, 2020
Customer		Amount				% of Total				Amount				% of Total				Amount				% of Total
A		$	-				-			$	-				-			$	4,065,411				24	%
F			785,192				25	%			1,158,818				22	%			-				-
G			1,245,723				39	%			867,411				17	%			-				-
D			-				*				642,683				12	%			-				-
H			-				*				578,489				11	%			-				-
Total		$	2,030,915				64	%		$	3,247,401				62	%		$	4,065,411				24	%

* represented the percentage below 10%

The following table sets forth information as to each supplier that accounted for 10% or more of total purchase for the years ended September 30, 2018, 2019 and 2020.

		Year ended September 30, 2018								Year ended September 30, 2019								Year ended September 30, 2020
Supplier		Amount				% of Total				Amount				% of Total				Amount				% of Total
A		$	-				-			$	504,889				63	%		$	4,320,110				26	%
B			-				-				-				-				2,141,144				13	%
C			-				-				110,940				14	%			-				-
D			533,366				66	%			-				-				-				-
Total		$	533,366				66	%		$	615,829				77	%		$	6,461,254				39	%

X

- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-URI http://asc.fasb.org/topic&trid=2134479

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X

- References

No definition available.

+ Details

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