Note 7 - Business Combination With B&R Global (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

Cash	$	7,017,467
Accounts receivable, net		30,934,831
Accounts receivable - related parties, net		3,393,930
Inventories, net		56,451,885
Other current assets		2,332,063
Other current assets - related parties		498,211
Advances to suppliers, net		97,964
Property and equipment, net		11,042,601
Deposit		281,282
Deposit – related parties		591,380
Long-term investments		2,289,389
Right-of-use assets		17,791,681
TANGIBLE ASSETS ACQUIRED		132,722,684
Lines of credit	$	35,567,911
Accounts payable		24,884,247
Accounts payable - related parties		1,528,139
Bank overdraft		12,082,094
Accrued expenses		778,779
Other payables		185,938
Other payables – related party		733,448
Customer deposits		38,510
Long-term debt		3,284,159
Lease liabilities		17,791,680
Deferred tax liabilities arising from acquired intangible assets		51,413,633
TANGIBLE LIABILITIES ASSUMED		148,288,538
NET TANGIBLE LIABILITIES ASSUMED		(15,565,854	)
Identifiable intangible assets		188,503,000
Goodwill		406,703,348
INTANGIBLE ASSETS ACQUIRED		595,206,348
Noncontrolling interests		2,941,000
Total consideration		576,699,494
	$	579,640,494

Business Acquisition, Pro Forma Information [Table Text Block]

	From acquisition date to December 31, 2019
Net Revenue	$	86,059,243
Net Income	$	1,355,343

	Year ended December 31,
	2019			2018
Pro forma Net revenue	$	828,045,703		$	817,981,204
Pro forma Net income		6,799,694	(1)		16,114,247	(1)
Pro forma Net income attributable to HF Group		5,662,499	(1)		15,774,413	(1)
Pro forma earnings per common share - basic and diluted	$	0.11		$	0.31
Weighted average shares - basic and diluted		53,293,566			51,232,829