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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 625,032 $ 626,879
Banker’s acceptances 18,642
Trade accounts receivable, less allowance for credit losses of $13,644,006 and $13,587,182, respectively 268,793 232,140
Other receivables, less allowance for credit losses of $29,014 and $28,447, respectively 48,361 30,286
Advances to suppliers 4,967 14,960
Inventories 1,678,769 2,266,154
Prepaid expenses 74,869 81,328
Total Current Assets 2,700,791 3,270,389
Property, plant and equipment, net 4,625,907 4,883,401
Right-of-use assets 38,298
Intangible assets, net 6,439,862 6,695,436
TOTAL ASSETS 13,766,560 14,887,524
Current Liabilities:    
Trade accounts payable 530,729 225,106
Accrued expenses 191,293 247,159
Other payables 2,344,882 2,182,982
Contract liabilities 77,683 162,208
Borrowings from related parties 1,407,607 1,144,985
Lease liabilities   39,323
Current portion of lines of credit 698,461 1,015,525
Total Current Liabilities 5,250,655 5,017,288
Non-current Liabilities:    
Lines of credit, net of current portion 1,319,915 1,391,130
Deferred tax liability 734,246 731,202
Total Liabilities 7,304,816 7,139,620
Commitments and Contingencies (Note 13)
Stockholders’ Equity:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued or outstanding
Common stock, $0.001 par value; 500,000,000 shares authorized; 3,262,022 shares and 3,261,911 shares issued and outstanding, respectively 3,262 3,262
Additional paid-in capital 40,631,679 40,631,679
Subscription receivable (180,000) (180,000)
Accumulated deficit (45,340,618) (44,026,679)
Accumulated other comprehensive income 11,347,421 11,319,642
Total Stockholders’ Equity 6,461,744 7,747,904
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 13,766,560 $ 14,887,524