Variable Interest Entity (“VIE”) (Tables)

6 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

Schedule of carrying amount of VIE's consolidated assets and liabilities

	06/30/2022			12/31/2021
Cash and cash equivalents	$	16,435		$	67,966
Accounts receivable, net		1,210,601			2,660,566
Restricted cash		79,043			380,750
Inter-company Receivable		1,639,002			1,725,302
Other receivables		234,839			118,708
Inventories		4,765,264			4,244,869
Advances to suppliers		768,471			310,769
Other receivables-related parties		7,002,242			7,650,042
TOTAL CURRENT ASSETS		15,715,897			17,158,972
Plant and equipment, net		13,601,527			12,554,727
Intangible assets, net		2,623,954			2,795,048
Construction in progress, net		21,754			2,475,874
Deferred tax assets		404,097			425,374
Total Non-Current Assets		16,651,332			18,251,023
TOTAL ASSETS	$	32,367,229		$	35,409,995
Short-term bank loans	$	6,349,720		$	6,822,054
Accounts payable		3,406,835			3,558,827
Advance from customers		2,252,031			3,476,585
Other payables and accrued liabilities		3,107,250			3,305,395
Taxes payable		190,708			212,658
Deferred income		46,935			58,033
Long term payable-current portion		-			126,261
Other payables-related parties		4,013,939			3,958,409
Intercompany Payable		6,569,509			7,131,860
TOTAL CURRENT LIABILITIES		25,936,927			28,650,082
Long-term payables		591,060			222,687
TOTAL LIABILITIES	$	26,527,987		$	28,872,769
Paid-in capital		12,326,270			12,326,270
Statutory reserve		29,006			29,006
Accumulated deficit		(5,741,943	)		(5,357,908	)
Accumulated other comprehensive income		(774,091	)		(460,142	)
Total Equity		5,839,242			6,537,226
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	32,367,229		$	35,409,995

Schedule of summarized operating results of the VIE’s

	06/30/2022			06/30/2021
Operating revenues	$	8,091,841		$	5,887,045
Gross profit		1,483,992			561,291
Income (loss) from operations		(194,189	)		(1,340,274	)
Net income (loss)		(384,035	)		(1,385,211	)