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SHORT-TERM BORROWINGS
 9 Months Ended
Sep. 30, 2020
SHORT-TERM BORROWINGS [Abstract]  
SHORT-TERM BORROWINGS
NOTE 6 – SHORT-TERM BORROWINGS
 
At September 30, 2020 and December 31, 2019, short-term borrowings consisted of the following:
 
 
  
September 30,
2020
    
December 31,
2019
  
Line of credit up to RMB 50,000 from Bank of Shanghai Pudong Branch, due on January 23, 2020 with an annual interest rate of 5.22%, guaranteed by the Company’s CEO and Cleanchip Technologies Limited. It was fully repaid on January 23, 2020.
  
$
-
    
$
5,057
  
Line of credit up to RMB 20,000 from Shanghai Rural Commercial Bank, due on February 21, 2020 with an annual interest rate of 5.66%, guaranteed by the Company’s CEO and pledged by accounts receivable. It was fully repaid on February 21, 2020.
    
-
      
1,433
  
Line of credit up to RMB 20,000 from Bank of Communications, due on January 18, 2020 with an annual interest rate of 5.66% and fully repaid on January 19, 2020.
    
-
      
1,433
  
Line of credit up to RMB 20,000 from Bank of Communications, due on January 22, 2020 with an annual interest rate of 5.66% and fully repaid on January 22, 2020.
    
-
      
717
  
Line of credit up to RMB 20,000 from Bank of Communications, due on February 14, 2020 with an annual interest rate of 5.66% and fully repaid on February 14, 2020.
    
-
      
717
  
Line of credit up to RMB 50,000 from China Everbright Bank, due on March 25, 2020 with an annual interest rate of 4.94%, guaranteed by the Company’s CEO and fully repaid on March 24, 2020.
    
-
      
3,250
  
Line of credit up to RMB 50,000 from China Everbright Bank, due on April 17, 2020 with an annual interest rate of 5.66%, guaranteed by the Company’s CEO and fully repaid on April 2, 2020.
    
-
      
1,146
  
Line of credit up to RMB 80,000 from China Everbright Bank, due on April 1, 2021 with an annual interest rate of 4.70%, guaranteed by the Company’s CEO.
    
4,404
      
-
  
Line of credit up to RMB 80,000 from China Everbright Bank, due on June 27, 2021 with an annual interest rate of 4.25%, guaranteed by the Company’s CEO.
    
1,321
      
-
  
Line of credit up to RMB 80,000 from China Everbright Bank, due on April 29, 2021 with an annual interest rate of 2.80%, guaranteed by the Company’s CEO.
    
820
      
-
  
Line of credit up to RMB 80,000 from China Everbright Bank, due on June 27, 2021 with an annual interest rate of 2.70%, guaranteed by the Company’s CEO.
    
2,079
      
-
  
Line of credit up to RMB 20,000 from Bank of Communications, due on April 12, 2021 with an annual interest rate of 4.65%.
    
1,468
      
-
  
Line of credit up to RMB 20,000 from Bank of Communications, due on May 24, 2021 with an annual interest rate of 3.65%.
    
1,468
      
-
  
Line of credit up to RMB 70,000 from Bank of Shanghai Pudong Branch, due on May 27, 2021 with an annual interest rate of 4.68%, guaranteed by the Company’s CEO and Cleanchip Technologies Limited.
    
2,466
      
-
  
Line of credit up to RMB 70,000 from Bank of Shanghai Pudong Branch, due on June 27, 2021 with an annual interest rate of 4.68%, guaranteed by the Company’s CEO and Cleanchip Technologies Limited.
    
1,321
      
-
  
Line of credit up to RMB 70,000 from Bank of Shanghai Pudong Branch, due on May 28, 2021 with an annual interest rate of 3.48%, guaranteed by the Company’s CEO and Cleanchip Technologies Limited.
    
2,441
      
-
  
Line of credit up to RMB 70,000 from Bank of Shanghai Pudong Branch, due on June 7, 2021 with an annual interest rate of 3.50%, guaranteed by the Company’s CEO and Cleanchip Technologies Limited.
    
1,521
      
-
  
Line of credit up to RMB 70,000 from Bank of Shanghai Pudong Branch, due on June 16, 2021 with an annual interest rate of 3.50%, guaranteed by the Company’s CEO and Cleanchip Technologies Limited.
    
1,837
      
-
  
Line of credit up to RMB 30,000 from Bank of China Pudong Branch, due on December 17, 2020 with annual interest rate of 4.35%, guaranteed by the Company’s CEO.
    
2,496
      
-
  
Line of credit up to RMB 80,000 from China Merchants Bank,due on August 10, 2021 with annual interest rate of 3.85%.
    
1,321
      
-
  
Line of credit up to RMB 80,000 from China Merchants Bank,due on August 25, 2021 with annual interest rate of 3.85%.
    
2,936
      
-
  
Line of credit up to KRW 500,000 from Industrial Bank of Korea, due on July 11, 2021 with an annual interest rate of 3.99%,guaranteed by the ACM-KOREA CEO.
    
428
      
-
  
Total
  
$
28,327
    
$
13,753
  
 
Interest expense related to short-term borrowings amounted to $272 and $205 for the three months ended September 30, 2020 and 2019, respectively, and $611 and $538 for the nine months ended September 30, 2020 and 2019, respectively.