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Discontinued Operations (Tables)
12 Months Ended
Dec. 31, 2018
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

 

 

 

For the years ended December 31,

 

 

Results of Operations

 

2018

 

 

2017

 

 

 

 

 

 

 

 

 

 

Sales

$

2,072,253

 

$

331,050

 

 

Cost of sales

 

1,305,382

 

 

382,788

 

 

Gross profit

 

475,177

 

 

(51,738

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

632,640

 

 

28,829,757

 

 

 

 

 

 

 

 

 

 

Other expenses

 

(24,232,157)

 

 

(2,071,757

)

 

 

 

 

 

 

 

 

 

Loss before Taxes

 

(24,097,926)

 

 

(30,953,252

)

 

 

 

 

 

 

 

 

 

Taxes

 

(48,583)

 

 

-

 

 

 

 

 

 

 

 

 

 

Net loss

$

(24,049,343)

 

$

(30,953,252

)

         

 

 

 

For the years ended December 31,

 

 

Other Income (Expenses)

 

2018

 

 

2017

 

 

Other income

$

-

 

$

608,198

 

 

Write-off of accounts receivable and other current assets

 

(1,266,022)

 

 

-

 

 

Write-off of inventory

 

(6,338,588)

 

 

-

 

 

Impairment of property and equipment and land use rights

 

(9,877,127)

 

 

(2,127,694

)

 

Other

 

(6,750,420)

 

 

(552,261

)

 

 

$

(24,232,157)

 

$

(2,071,757

)

         

 

 

 

As of December 31,

 

 

Financial Position

 

2018

 

 

2017

 

 

Current Assets

$

-

 

$

790,550

 

 

Non-Current Assets

 

-

 

 

896,099

 

 

Total Assets

$

-

 

$

1,686,649

 

 

 

 

 

 

 

 

 

 

Current Liabilities

$

8,607,813

 

$

9,610,994

 

 

Total Long-Term Liabilities

 

-

 

 

-

 

 

Total Liabilities

$

8,607,813

 

$

9,610,994

 

 

 

 

 

 

 

 

 

 

Net Assets

$

(8,607,813

)

$

(7,924,345

 

 

 

 

 

 

 

 

 

 

Total Liabilities & Net Assets

$

(8,607,813

)

$

1,686,649

 

         

 

 

 

As of December 31,

 

 

Financial Position

 

2018

 

 

2017

 

 

Current Assets

$

-

 

$

790,550

 

 

Non-Current Assets

 

-

 

 

896,099

 

 

Total Assets

$

-

 

$

1,686,649

 

 

 

 

 

 

 

 

 

 

Current Liabilities

$

8,607,813

 

$

9,610,994

 

 

Total Long-Term Liabilities

 

-

 

 

-

 

 

Total Liabilities

$

8,607,813

 

$

9,610,994

 

 

 

 

 

 

 

 

 

 

Net Assets

$

(8,607,813

)

$

(7,924,345

 

 

 

 

 

 

 

 

 

 

Total Liabilities & Net Assets

$

(8,607,813

)

$

1,686,649

 

               

 

Plant and equipment

 

2018

 

 

2017

 

 

At Cost:

 

 

 

 

 

 

 

    Buildings

$

-

 

$

2,537,134

 

 

    Machinery and equipment

 

-

 

 

4,721,021

 

 

    Office equipment

 

-

 

 

-

 

 

    Motor vehicles

 

-

 

 

300,916

 

 

 

$

-

 

$

7,559,071

 

 

 

 

 

 

 

 

 

 

LessAccumulated depreciation

 

-

 

 

(7,559,071

)

 

 

 

 

 

 

 

 

 

 

$

-

 

$

-

 

 

 

Intangible assets

 

2018

 

 

2017

 

 

At Cost:

 

 

 

 

 

 

 

    Land use rights

 

-

 

 

1,210,297

 

 

    Software

 

-

 

 

109,664

 

 

    Patent

 

-

 

 

1,449

 

 

 

$

-

 

$

1,321,410

 

 

 

 

 

 

 

 

 

 

Less: Accumulated amortization

 

-

 

 

(425,311

)

 

 

$

-

 

$

896,099