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Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash $ 5,699,106 $ 4,348,635
Restricted cash 172,369 669,525
Notes receivable 215,462 309,796
Accounts receivable, net 11,421,195 15,479,437
Prepaid expense – related parties 806,311
Due from related parties 370,000 154,083
Loans to third parties 740,000 47,997
Contract costs 2,999,411
Prepayments, deposits and other current assets, net 623,962 1,098,009
Total Current Assets 23,047,816 22,107,482
Property and equipment, net 6,564,640 4,707,112
Prepayments, deposits and other assets, net 759,397 865,498
Deferred tax assets 309,111 87,416
Total Assets 30,680,964 27,767,508
CURRENT LIABILITIES:    
Bank loans 1,580,018 1,527,162
Notes payable 467,806
Accounts payable 19,773,556 16,231,682
Customer deposits 136,763 142,359
Deferred revenue 1,183,545 1,268,451
Salaries and benefits payable 1,219,584 836,558
Due to related party 6,538
Taxes payable 869,913 867,610
Total Current Liabilities 24,769,917 21,341,628
COMMITMENTS AND CONTINGENCIES
EQUITY:    
Ordinary Shares, 0.00166667 par value; 30,000,000 shares authorized,8,967,748 and 6,905,248 shares issued and outstanding as of December 31, 2019 and 2018* 14,946 11,509
Shares subscription receivable [1] (11,509)
Additional Paid-in Capital 15,878,438 5,519,507
Retained earnings (accumulated deficit) (9,980,835) 806,002
Accumulated other comprehensive (loss) income (1,487) 100,371
Total Powerbridge Technologies Co., Ltd.’s Shareholders’ Equity 5,911,062 6,425,880
Non-controlling interest (15)
Total Equity 5,911,047 6,425,880
Total Liabilities and Equity $ 30,680,964 $ 27,767,508
[1] Shares and per share data are presented on a retroactive basis to reflect the nominal share issuance and share split on August 18, 2018 and February 10, 2019.