GOING CONCERN	9 Months Ended
Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	2. GOING CONCERN The accompanying consolidated financial statements have been prepared on the basis that the Company is a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company has experienced losses from operations over the past nine months. As of and for the nine months ended September 30, 2021, the Company had an accumulated deficit of $124,909,747 and a loss of $5,030,706 from operations, respectively. As a result, these conditions may raise substantial doubt regarding our ability to continue as a going concern twelve months from the date of issuance of our consolidated financial statements. However, the Company expects to have high volume of cash in hand and strong operating cash inflows for at least the next twelve months. As of September 30, 2021, the Company had cash $67,944,590 and restricted cash $4,996,543 compared to cash $24,965,946 and restricted cash $6,769,533 as of December 31, 2020. SeD Maryland Development LLC has an $8 million credit line from Manufacturers and Traders Trust Company (“M&T Bank”) and the loan balance with M&T Bank was $0 as of September 30, 2021. Management has evaluated the conditions in relation to the Company’s ability to meet its obligations and plans to continue borrowing funds from third party financial institutions in order to meet the operating cash requirements. As of September 30, 2021 and December 31, 2020, the loans from related party were $5,278,617 and $2,534,281, respectively. Funding the Company’s operations is our first priority, before repaying related party debtors. Therefore, available cash will be used to fund the Company’s operations before related party debtor repayments. At the same time management will concurrently work with the related party debtors on a plan to repay the related party loans, which are repayable on demand. During the nine months ended September 30, 2021, the revenue from real estate projects was approximately $12 million and revenue from our biohealth business was approximately $4.9 million. Furthermore, the Company had not defaulted on any principal and interest repayment on its loans and borrowings and had repaid one of its bank loans during the nine months ended September 30, 2021. As a result of management’s plans, high volume cash in bank accounts, favorable cash revenue from real estate and biohealth operations in nine months ended on September 30, 2021, and availability of $8 million line of credit under M&T Bank loan agreement, the Company believes the initial conditions which raised substantial doubt regarding the ability to continue as a going concern have been alleviated. However, we cannot predict, with certainty, the outcome of our actions to generate liquidity and the failure to do so could negatively impact our future operations.

GOING CONCERN

9 Months Ended

Sep. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

2. GOING CONCERN

The accompanying consolidated financial statements have been prepared on the basis that the Company is a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company has experienced losses from operations over the past nine months. As of and for the nine months ended September 30, 2021, the Company had an accumulated deficit of $124,909,747 and a loss of $5,030,706 from operations, respectively.

As a result, these conditions may raise substantial doubt regarding our ability to continue as a going concern twelve months from the date of issuance of our consolidated financial statements. However, the Company expects to have high volume of cash in hand and strong operating cash inflows for at least the next twelve months. As of September 30, 2021, the Company had cash $67,944,590 and restricted cash $4,996,543 compared to cash $24,965,946 and restricted cash $6,769,533 as of December 31, 2020. SeD Maryland Development LLC has an $8 million credit line from Manufacturers and Traders Trust Company (“M&T Bank”) and the loan balance with M&T Bank was $0 as of September 30, 2021. Management has evaluated the conditions in relation to the Company’s ability to meet its obligations and plans to continue borrowing funds from third party financial institutions in order to meet the operating cash requirements. As of September 30, 2021 and December 31, 2020, the loans from related party were $5,278,617 and $2,534,281, respectively. Funding the Company’s operations is our first priority, before repaying related party debtors. Therefore, available cash will be used to fund the Company’s operations before related party debtor repayments. At the same time management will concurrently work with the related party debtors on a plan to repay the related party loans, which are repayable on demand.

During the nine months ended September 30, 2021, the revenue from real estate projects was approximately $12 million and revenue from our biohealth business was approximately $4.9 million. Furthermore, the Company had not defaulted on any principal and interest repayment on its loans and borrowings and had repaid one of its bank loans during the nine months ended September 30, 2021.

As a result of management’s plans, high volume cash in bank accounts, favorable cash revenue from real estate and biohealth operations in nine months ended on September 30, 2021, and availability of $8 million line of credit under M&T Bank loan agreement, the Company believes the initial conditions which raised substantial doubt regarding the ability to continue as a going concern have been alleviated. However, we cannot predict, with certainty, the outcome of our actions to generate liquidity and the failure to do so could negatively impact our future operations.