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Lines of Credit
3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block]

Note 10 - Lines of Credit


On September 19, 2017, Diamond Bar extended the line of credit up to a maximum of $8,000,000 to mature on June 1, 2019. The annual interest rate was 5.50% as of December 31, 2019. The line of credit was secured by all of the assets of Diamond Bar and is guaranteed by Nova LifeStyle. We paid off our lines of credit upon expiration on June 30, 2019. As of March 31, 2020, and December 31, 2019, Diamond Bar had $0 outstanding on the line of credit.  During the three months ended March 31, 2020 and 2019, the Company recorded interest expense of $0 and $35,444, respectively.


As of March 31, 2020, and December 31, 2019, we do not have any credit facilities.