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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current Assets    
Cash and cash equivalents $ 7,423,198 $ 243,551
Accounts receivable, net 390,241 66,592,663
Advance to suppliers 27,745,184 9,545,489
Inventories 29,724,665 6,371,112
Prepaid expenses and other receivables 173,607 100,394
Current assets of discontinued operations 3,041,976 2,596,405
Total Current Assets 68,498,871 85,449,614
Noncurrent Assets    
Plant, property and equipment, net 136,512 147,096
Operating lease right-of-use assets, net 2,658,344 0
Lease deposit 43,260 43,260
Goodwill 218,606 218,606
Deferred tax asset 0 436,449
Non-current assets of discontinued operations 0 3,795,904
Total Noncurrent Assets 3,056,722 4,641,315
Total Assets 71,555,593 90,090,929
Current Liabilities    
Accounts payable 417,918 4,145,927
Line of credit 0 6,248,162
Operating lease liability, current 481,068 0
Advance from customers 26,450 45,309
Accrued liabilities and other payables 301,764 803,455
Income tax payable 22,055 584,874
Current liabilities of discontinued operations 215,445 5,174
Total Current Liabilities 1,464,700 11,832,901
Noncurrent Liabilities    
Operating lease liability, non-current 2,211,061 0
Income tax payable 1,833,286 2,255,094
Non-current liabilities of discontinued operations 0 1,096,558
Total Noncurrent Liabilities 4,044,347 3,351,652
Total Liabilities 5,509,047 15,184,553
Contingencies and Commitments
Stockholders' Equity    
Common stock, $0.001 par value; 15,000,000 shares authorized, 5,741,604 and 5,713,330 shares issued and outstanding; as of December 31, 2019 and 2018, respectively 5,741 5,713
Additional paid-in capital 40,221,062 39,864,003
Statutory reserves 6,241 6,241
Treasury stock, at cost, 172,870 and nil shares as of December 31, 2019 and 2018, respectively (616,193) 0
Retained earnings 26,429,695 35,030,419
Total Stockholders' Equity 66,046,546 74,906,376
Total Liabilities and Stockholders' Equity $ 71,555,593 $ 90,090,929