XML 129 R2.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 55,950 $ 468,229
Accounts receivable 440,783 301,046
Other receivables 5,469 35,717
Due from related parties 12,750 0
Prepayment 11,823 72,972
Deferred IPO cost 0 133,480
Inventories 1,968,150 1,874,910
Other current asset 78,734 82,585
Total current assets 2,573,659 2,968,939
Non-current assets:    
Property, plant and equipment, net 371,726 445,158
Construction in progress 108,043 91,855
Intangible asset 5,786 7,131
Investment in joint venture 27,671 27,888
Right-of-use assets, net 415,791 0
Total non-current assets 929,017 572,032
TOTAL ASSETS 3,502,676 3,540,971
Current liabilities:    
Convertible notes payable 200,175 123,750
Accounts and other payable 1,304,040 1,804,194
Advance from customer 302,229 208,816
Tax payables 33,543 16,425
Due to related party 30,407 32,310
Operating lease Liabilities, current 165,354 0
Total current liabilities 2,035,748 2,185,495
Non-current liabilities:    
Operating lease Liabilities, non-current 241,149 0
Total non-current liabilities 241,149  
TOTAL LIABILITIES 2,276,897 2,185,495
COMMITMENTS AND CONTINGENCIES 0 0
SHAREHOLDERS' EQUITY    
Common shares, $0 par value, 100,000,000 shares authorized, 3,378,760 and 3,373,760 shares issued and outstanding at December 31, 2020, and 2019, respectively 0 0
Additional paid-in capital 3,021,912 3,074,892
Accumulated Deficit (1,688,505) (1,515,197)
Accumulated other comprehensive income (107,628) (204,219)
Total shareholders' equity(deficit) 1,225,779 1,355,476
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 3,502,676 $ 3,540,971