The Acquisition of the Guanzan Group (Tables)

3 Months Ended

Mar. 31, 2021

Guanzan Acquisition [Member]

The Acquisition of the Guanzan Group (Tables) [Line Items]

Schedule of identified assets acquired and liabilities

Items	Amount
Assets
Cash	$	95,220
Accounts receivable		1,835,981
Advances to suppliers		1,222,986
Amount due from related parties		410,943
Inventories		950,225
Prepayments and other receivables		90,256
Property, plant and equipment		707,289
Intangible assets		254,737
Goodwill		6,443,170
Liabilities
Short-term bank borrowings		(838,926	)
Long-term loans due within one year		(250,663	)
Accounts payable, trade		(1,303,399	)
Advances from customers		(1,350,126	)
Amount due to related parties		(106,720	)
Taxes payable		(406,169	)
Other payables and accrued liabilities		(390,594	)
Long-term loans – noncurrent portion		(186,796	)
Non-controlling interests		(46,295	)
Total-net assets	$	7,131,119