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Organization and Principal Activities
6 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
Organization and Principal Activities

1. Organization and Principal Activities

 

Planet Green Holdings Corp. (the “Company” or “PLAG”) is a holding company incorporated in Nevada. We are engaged in various businesses through our subsidiaries and controlled entities in China.

 

Going Concern

 

The accompanying unaudited condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern; however, the Company has incurred a net loss of $2,756,457 for the six months ended June 30, 2022. As of June 30, 2022, the Company had an accumulated deficit of $96,787,007, a working capital deficit of $7,998,551; its net cash used in operating activities for the six months ended June 30, 2022 was $8,200,350.

 

These factors raise substantial doubt on the Company’s ability to continue as a going concern. The accompanying unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Management’s plan for the Company’s continued existence is dependent upon management’s ability to execute the business plan, develop the plan to generate profit; additionally, Management may need to continue to rely on private placements or certain related parties to provide funding for investment, for working capital and general corporate purposes. If management is unable to execute its plan, the Company may become insolvent.