0001213900-20-024480.txt : 20200831 0001213900-20-024480.hdr.sgml : 20200831 20200831112747 ACCESSION NUMBER: 0001213900-20-024480 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 56 CONFORMED PERIOD OF REPORT: 20200331 FILED AS OF DATE: 20200831 DATE AS OF CHANGE: 20200831 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SHARING ECONOMY INTERNATIONAL INC. CENTRAL INDEX KEY: 0000819926 STANDARD INDUSTRIAL CLASSIFICATION: SPECIAL INDUSTRY MACHINERY (NO METALWORKING MACHINERY) [3550] IRS NUMBER: 900648920 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-34591 FILM NUMBER: 201150438 BUSINESS ADDRESS: STREET 1: NO. 9 YANYU MIDDLE ROAD QIANZHOU VILLAGE STREET 2: HUISHAN DISTRICT, WUXI CITY CITY: JIANGSU PROVINCE, STATE: F4 ZIP: 00000 BUSINESS PHONE: (86) 51083397559 MAIL ADDRESS: STREET 1: NO. 9 YANYU MIDDLE ROAD QIANZHOU VILLAGE STREET 2: HUISHAN DISTRICT, WUXI CITY CITY: JIANGSU PROVINCE, STATE: F4 ZIP: 00000 FORMER COMPANY: FORMER CONFORMED NAME: Cleantech Solutions International, Inc., DATE OF NAME CHANGE: 20110621 FORMER COMPANY: FORMER CONFORMED NAME: China Wind Systems, Inc DATE OF NAME CHANGE: 20071221 FORMER COMPANY: FORMER CONFORMED NAME: MALEX INC DATE OF NAME CHANGE: 19920703 10-Q 1 f10q0320_sharingeconomy.htm QUARTERLY REPORT

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

(Mark One)

 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended March 31, 2020

 

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from __________ to __________

 

COMMISSION FILE NUMBER: 001-34591

 

SHARING ECONOMY INTERNATIONAL INC.

(Exact name of Registrant as specified in its charter)

 

NEVADA   90-0648920
 (State or other jurisdiction of
incorporation of organization)
  (I.R.S. Employer
Identification No.)

 

M302, 3/F, Eton Tower,

8 Hysan Avenue,

Causeway Bay, Hong Kong

(Address of principal executive offices)

 

(852) 35832186

(Registrant’s telephone number, including area code)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

 

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

 

Large accelerated filer Accelerated filer
Non-accelerated filer  Smaller reporting company
    Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange
on which registered
         

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. 7,222,853,342 shares of common stock are issued and outstanding as of August 16, 2020.

 

 

 

 

 

  

SHARING ECONOMY INTERNATIONAL INC. AND SUBSIDIARIES

 FORM 10-Q

March 31, 2020

 

TABLE OF CONTENTS

 

    Page No.
  PART I. - FINANCIAL INFORMATION  
     
Item 1. Financial Statements 1
  Condensed Consolidated Balance Sheets as of March 31, 2020 (Unaudited) and December 31, 2019 1
  Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months Ended March 31, 2020 and 2019 (Unaudited) 2
  Condensed Consolidated Statements of Changes in Stockholders’ Equity (Deficit) for the Three Months Ended March 31, 2020 and 2019 (Unaudited) 3
  Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2020 and 2019 (Unaudited) 4
  Notes to Condensed Consolidated Financial Statements (Unaudited) 5
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 16
Item 3. Quantitative and Qualitative Disclosures About Market Risk 25
Item 4. Controls and Procedures 25
     
  PART II - OTHER INFORMATION  
     
Item 5. Exhibits 27

 

i

 

 

FORWARD LOOKING STATEMENTS

 

This report contains forward-looking statements regarding our business, financial condition, results of operations and prospects. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements, but are not deemed to represent an all-inclusive means of identifying forward-looking statements as denoted in this report. Additionally, statements concerning future matters are forward-looking statements.

 

Although forward-looking statements in this report reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by us. Consequently, forward-looking statements are inherently subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in or anticipated by the forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include, without limitation, those specifically addressed under the headings “Risks Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our annual report on Form 10-K, in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Form 10-Q and information contained in other reports that we file with the SEC. You are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this report.

 

We file reports with the SEC. The SEC maintains a website (www.sec.gov) that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC, including us. You can also read and copy any materials we file with the SEC at the SEC’s Public Reference Room at 100 F Street, NE, Washington, DC 20549. You can obtain additional information about the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330 FREE. Our SEC filings are available through our website at http://www.seii.com/investor-relations/sec-filings.

 

We undertake no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this report, except as required by law. Readers are urged to carefully review and consider the various disclosures made throughout the entirety of this quarterly report, which are designed to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and prospects.

 

ii

 

 

PART 1 - FINANCIAL INFORMATION

 

ITEM 1. FINANCIAL STATEMENTS

 

SHARING ECONOMY INTERNATIONAL INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

  

   March 31,   December 31, 
   2020   2019 
   (Unaudited)   (Audited) 
ASSETS        
         
CURRENT ASSETS:        
Cash and cash equivalents  $45,708   $83,667 
Accounts receivable, net of allowance for doubtful accounts   9,866    305 
Prepaid expenses and other receivables   868,919    1,019,883 
Marketable securities   2,531,283    4,532,296 
           
Total current assets   3,455,776    5,636,151 
           
OTHER ASSETS:          
Property and equipment, net   586,118    620,075 
Intangible assets, net   1,057,945    1,108,407 
           
Total other assets   1,644,063    1,728,482 
           
Total assets  $5,099,839   $7,364,633 
           
LIABILITIES AND STOCKHOLDERS’ DEFICIT          
           
CURRENT LIABILITIES:          
Short-term bank loans  $4,683,873   $4,676,184 
Convertible note payable, net of unamortized debt discount   838,571    838,571 
Accounts payable   5,598    516,341 
Accrued expenses   811,253    279,941 
Due to related parties   2,733,844    2,365,504 
Income taxes payable   -    6,802 
Deferred revenue   589    - 
           
Total current liabilities   9,073,728    8,683,343 
           
LONG-TERM LIABILITIES:          
Long-term loan   4,944,433    4,981,361 
           
Total liabilities   14,018,161    13,664,704 
           
STOCKHOLDERS’ DEFICIT:          
Preferred stock, $0.001 par value; 10,000,000 shares authorized; Series A Preferred stock ($0.001 par value; 50,000,000 shares authorized; 0 and 0 issued and outstanding at March 31, 2020 and December 31, 2019, respectively)   -    - 
Common stock ($0.001 par value; 7,400,000,000 shares authorized; 199,418,592 and 199,418,592 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively)   199,418    199,418 
Common stock to be issued   7,018,942    7,018,942 
Additional paid-in capital   53,699,861    53,699,861 
Accumulated losses   (66,574,745)   (66,300,687)
Accumulated other comprehensive (loss) income   (1,968,118)   42,957 
Total SEII stockholder’s deficit   (7,624,642)   (5,339,869)
           
Non-controlling interest   (1,293,680)   (960,202)
           
Total stockholders’ deficit   (8,918,322)   (6,300,071)
           
Total liabilities and stockholders’ deficit  $5,099,839   $7,364,633 

 

See notes to unaudited condensed consolidated financial statements.

 

1

 

 

SHARING ECONOMY INTERNATIONAL INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Unaudited)

 

   For the Three Months Ended 
   March 31, 
   2020   2019 
       (Restated) 
         
REVENUES  $26,447   $3,789 
           
COST OF REVENUES   (781)   (21,214)
           
GROSS PROFIT (LOSS)   25,666    (17,425)
           
OPERATING EXPENSES:          
Depreciation and amortization   84,590    73,968 
Selling, general and administrative   398,939    2,137,161 
Written-off prepayments   122,514    - 
           
Total operating expenses   606,043    2,211,129 
           
LOSS FROM OPERATIONS   (580,377)   (2,228,554)
           
OTHER INCOME (EXPENSE):          
Interest income   2    9 
Interest expense   (95,831)   (90,815)
Loss on disposal of a subsidiary   (70,901)   - 
Foreign currency loss   (3,099)   (1,492)
Other income   73,564    - 
           
Total other expense, net   (96,265)   (92,298)
           
LOSS FROM CONTINUING OPERATIONS BEFORE PROVISION FOR INCOME TAXES   (676,642)   (2,320,852)
           
PROVISIONS FOR INCOME TAXES:          
Current   -    - 
Deferred   -    - 
           
Total Income taxes provision   -    - 
           
LOSS FROM CONTINUING OPERATIONS   (676,642)   (2,320,852)
           
DISCONTINUTED OPERATIONS:          
Loss from discontinued operations, net of income taxes   -    (22,601,645)
           
NET LOSS   (676,642)   (24,922,497)
           
NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST   (402,584)   (202,068)
           
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS  $(274,058)  $(24,720,429)
           
COMPREHENSIVE LOSS:          
Net loss  $(676,642)  $(24,922,497)
Fair value change on market securities   (2,001,013)   - 
Foreign currency translation gain (loss)   (9,702)   682,029 
           
Comprehensive loss  $(2,687,357)  $(24,240,468)
           
Net loss attributable to non-controlling interest  $(402,584)  $(202,068)
Foreign currency translation gain (loss) from non-controlling interest   1,394    (363)
           
Comprehensive loss attributable to common stockholders  $(2,286,167)  $(24,038,037)
           
NET LOSS PER COMMON SHARE:          
Continuing operations - basic and diluted  $(0.00)  $(0.28)
Discontinued operations - basic and diluted   -    (2.78)
           
Net loss per common share - basic and diluted  $(0.00)  $(3.06)
           
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:          
Basic and diluted   199,418,592    8,118,610 

 

See notes to unaudited condensed consolidated financial statements.

 

2

 

 

SHARING ECONOMY INTERNATIONAL INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT)

For the Three Months Ended March 31, 2020 and 2019

(Unaudited)

 

 

   Common Stock   Common stock to be issued                         
   Number of Shares   Amount   Number of
Shares
   Amount   Additional
Paid-in
Capital
   Retained
Earnings
   Statutory
Reserve
   Accumulated
Other
Comprehensive
Income
   Non-controlling
Interest
   Total
Stockholders’
Deficit
 
                                         
Balance, December 31, 2019   199,418,592   $199,418    7,018,942,195    7,018,942   $53,699,861   $(66,300,687)  $-   $42,597   $(960,202)  $(6,300,071 
                                                   
Loss from disposal of subsidiary   -    -    -    -    -    -    -    -    67,712    67,712 
                                                   
Net loss for the period   -    -    -    -    -    (274,058)   -    -    (402,584)   (676,642)
                                                   
Fair value change on marketable securities   -    -    -    -    -    -    -    (2,001,013)   -    (2,001,013)
                                                   
Foreign currency translation adjustment   -    -    -    -    -    -    -    (9,702    1,394    (8,308)
                                                   
Balance, March 31, 2020   199,418,592   $199,418    7,018,942,195    7,018,942   $53,699,861   $(66,574,745)  $-   $(1,968,118)  $(1,293,680)  $(8,918,322)

 

   Common Stock   Common stock to be issued                         
   Number of       Number of       Additional
Paid-in
   Retained   Statutory   Accumulated
Other
Comprehensive
   Non-controlling   Total
Stockholders’
 
   Shares   Amount   Shares   Amount   Capital   Earnings   Reserve   Income   Interest   Equity 
                                         
Balance, December 31, 2018 (restated)   188,506,928   $188,507    7,018,942,195   $7,018,942   $58,452,131   $(40,099,942)  $2,352,592   $2,695,362   $(539,802)  $30,067,790 
                                                   
Common stock issued for cash   690,000    690    -    -    199,410    -    -    -    -    200,100 
                                                   
Common stock issued for services to consultants and service providers   901,948    902    -    -    190,854    -    -    -    -    191,756 
                                                   
Common stock surrendered for services from consultants and service providers   (270,479)   (270)   -    -    (947,678)   -    -    -    -    (947,948)
                                                   
Common stock issued upon conversion of debt   266,667    267    -    -    49,733    -    -    -    -    50,000 
                                                   
Common stock issued for donation   85,470    85    -    -    259,513    -    -    -    -    259,598 
                                                   
Net loss for the period   -    -    -    -    -    (24,720,429)   -    -    (202,068)   (24,922,497)
                                                   
Foreign currency translation adjustment   -    -    -    -    -    -    -    674,392    (363)   674,029 
                                                   
Balance, March 31, 2019   190,180,534   $190,181    7,018,942,195    7,018,942   $58,203,963   $(64,820,371)  $2,352,592   $3,369,754   $(742,233)  $5,572,828 

 

See notes to unaudited condensed consolidated financial statements.

 

3

 

 

SHARING ECONOMY INTERNATIONAL INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

 

   For the Three Months Ended 
   March 31, 
   2020   2019 
       (Restated) 
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss  $(676,642)  $(24,922,497)
Less: loss from discontinued operations   -    (22,601,645)
Net loss from continuing operations   (676,642)   (2,320,852)
Adjustments to reconcile net loss from operations to net cash used in operating activities:          
Depreciation   33,842    6,245 
Amortization of intangible assets   50,748    67,723 
Written-off prepayments   122,514    - 
Stock-based compensation   -    1,557,288 
Loss on disposal of a subsidiary   70,901    - 
Amortization of debt discount   -    69,502 
Changes in operating assets and liabilities:          
Accounts receivable   (9,561)   40,989 
Prepaid expenses and other receivables   28,450    242,912 
Accounts payable   (510,743)   228,068 
Accrued expenses   531,312    874 
Income tax payable   (6,802)   (27,446)
Deferred revenue   589    - 
           
CASH FLOWS USED IN OPERATING ACTIVITIES – continuing operations   (365,392)   (134,697)
CASH FLOWS USED IN OPERATING ACTIVITIES – discontinued operations   -    (251,849)
CASH FLOWS USED IN OPERATING ACTIVITIES   (365,392)   (386,546)
           
CASH FLOWS FROM INVESTING ACTIVITIES:          
Proceed from disposal of a subsidiary   8,251    - 
           
CASH FLOWS PROVIDED BY INVESTING ACTIVITIES – continuing operations   8,251    - 
CASH FLOWS PROVIDED BY INVESTING ACTIVITIES – discontinued operations   -    - 
CASH FLOWS PROVIDED BY INVESTING ACTIVITIES   8,251    - 
           
CASH FLOWS FROM FINANCING ACTIVITIES:          
Repayments of bank loan   (29,239)   - 
Advance from related party   368,340    135,691 
Repayment to related party   -    (31,604)
Proceeds from sale of common stock, net   -    200,100 
           
CASH FLOWS PROVIDED BY  FINANCING  ACTIVITIES – continuing operations   339,101    304,187 
CASH FLOWS USED IN  FINANCING CTIVITIES – discontinued operations   -    (209,127)
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES   339,101    95,060 
           
Effect of exchange rate changes   (19,919)   (169,449)
           
Net change in cash and cash equivalents   (37,959)   (460,935)
           
Cash and cash equivalents  - beginning of period   83,667    883,461 
           
Cash and cash equivalents  - end of period   45,708    422,526 
           
Less: Cash and cash equivalents from discontinued operations   -    (211,049)
           
Cash and cash equivalents from continuing operations, end of period   45,708   $211,477 
           
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:          
Cash paid in continuing operations for:          
Interest  $95,831   $90,815 
Income taxes  $-   $- 
           
Cash paid in discontinued operations for:          
Interest  $-   $41,998 
Income taxes  $-   $- 
           
NON-CASH INVESTING AND FINANCING ACTIVITIES:          
Stock issued for future services to consultants and vendors  $-   $111,280 
Stock issued for redemption of convertible note and accrued interest  $-   $50,000 

 

See notes to unaudited condensed consolidated financial statements.

 

4

 

 

SHARING ECONOMY INTERNATIONAL INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2020

(Unaudited)

 

NOTE 1 – DESCRIPTION OF BUSINESS AND ORGANIZATION

 

Sharing Economy International Inc. (the “Company”) was incorporated in Delaware on June 24, 1987 under the name of Malex, Inc. On December 18, 2007, the Company’s corporate name was changed to China Wind Systems, Inc. and on June 13, 2011, the Company changed its corporate name to Cleantech Solutions International, Inc. On August 7, 2012, the Company was converted into a Nevada corporation. On January 8, 2018, the Company changed its corporate name to Sharing Economy International Inc. 

 

Following the closure of its operations in the PRC during 2019, the Company’s latest business initiatives are focused on targeting the technology and global sharing economy markets, by developing online platforms and rental business partnerships that will drive the global development of sharing through economical rental business models. In connection with the new business initiatives, the Company formed or acquired the following subsidiaries:

 

  Vantage Ultimate Limited (“Vantage”), a company incorporated under the laws of British Virgin Islands on February 1, 2017 and is wholly-owned by the Company.
  Sharing Economy Investment Limited (“Sharing Economy”), a company incorporated under the laws of British Virgin Islands on May 18, 2017 and is wholly-owned by Vantage.
  EC Advertising Limited (“EC Advertising”), a company incorporated under the laws of Hong Kong on March 17, 2017 and is a wholly-owned by Sharing Economy.
  EC Rental Limited (“EC Rental”), a company incorporated under the laws of British Virgin Islands on May 22, 2017 and is wholly-owned by Vantage.
  EC Assets Management Limited (“EC Assets”), a company incorporated under the laws of British Virgin Islands on May 22, 2017 and is wholly-owned by Vantage.
  Cleantech Solutions Limited (formerly known as EC (Fly Car) Limited), a company incorporated under the laws of British Virgin Islands on May 22, 2017 and is a wholly-owned by Sharing Economy.
  Global Bike Share (Mobile App) Limited, a company incorporated under the laws of British Virgin Islands on May 23, 2017 and is a wholly-owned by Sharing Economy.
  EC Power (Global) Technology Limited (“EC Power”), a company incorporated under the laws of British Virgin Islands on May 26, 2017 and is wholly-owned by EC Rental.
  ECPower (HK) Company Limited, a company incorporated under the laws of Hong Kong on June 23, 2017 and is wholly-owned by EC Power.
  EC Manpower Limited, a company incorporated under the laws of Hong Kong on July 3, 2017 and is wholly-owned by Vantage.
  EC Technology & Innovations Limited (“EC Technology”), a company incorporated under the laws of British Virgin Islands on September 1, 2017 and is wholly-owned by Vantage.
  Inspirit Studio Limited (“Inspirit Studios”), a company incorporated under the laws of Hong Kong on August 24, 2015, and 51% of its shareholding was acquired by EC Technology on December 8, 2017.
  EC Creative Limited (“EC Creative”), a company incorporated under the laws of British Virgin Islands on January 9, 2018 and is wholly-owned by Vantage.
  3D Discovery Co. Limited (“3D Discovery”), a company incorporated under the laws of Hong Kong on February 24, 2015, and 60% of its shareholdings was acquired by EC Technology on January 19, 2018.
  Sharing Film International Limited, a company incorporated under the laws of Hong Kong on January 22, 2018 and is a wholly-owned by EC Creative.
  AnyWorkspace Limited (“AnyWorkspace”), a company incorporated under the laws of Hong Kong on November 12, 2015, and 80% of its shareholding was acquired by Sharing Economy on January 30, 2018.
  Xiamen Great Media Company Limited (“Xiamen Great Media”), a company incorporated under the laws of the PRC on September 5, 2018 and is a wholly-owned by EC Advertising.

 

5

 

 

On March 24, 2020, the Company sold its equity interest of 80% in AnyWorkspace Limited for a consideration of approximately $8,251 with a loss on disposal of $70,901.

 

Going Concern

 

These condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying condensed consolidated financial statements, the Company had a loss from continuing operations of approximately $676,642 for the three months ended March 31, 2020 and suffered from the accumulated deficit of $66,574,745 at that date. The net cash used in operations were approximately $365,392 for the three months ended March 31, 2020. Management believes that its capital resources are not currently adequate to continue operating and maintaining its business strategy for twelve months from the date of this report. The Company may seek to raise capital through additional debt and/or equity financings to fund its operations in the future. Although the Company has historically raised capital from sales of equity and from bank loans, there is no assurance that it will be able to continue to do so. If the Company is unable to raise additional capital or secure additional lending in the near future, management expects that the Company will need to curtail or cease operations.

 

Management believes that these matters raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying condensed consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

 

Listing Status

 

On November 26, 2018, Sharing Economy International Inc. (the “Company”) received a staff determination notice from The Nasdaq Stock Market (“Nasdaq”) informing the Company that as a result of its failure to comply with Nasdaq’s shareholder approval requirements set forth in Listing Rule 5635(c) (the “Rule”), the staff determined to deny the Company’s request for continued listing based on a plan of compliance submitted on October 26, 2018. The Company’s common stock was delisted from Nasdaq at the open of trading on December 5, 2018. The Company’s common stock is currently trading on the OTC Markets under the symbol “SEII”. On January 2, 2020, the Company is trading on OTCQB.

 

Basis of Presentation

 

The accompanying unaudited condensed consolidated financial statements have been prepared by management in accordance with both accounting principles generally accepted in the United States (“GAAP”), and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Certain information and note disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading.

 

In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2019 and footnotes thereto included in the Company’s Annual Report on Form 10-K filed with the SEC on July 24, 2020. The consolidated balance sheet as of December 31, 2019 contained herein has been derived from the audited consolidated financial statements as of December 31, 2019, but does not include all disclosures required by the generally accepted accounting principles in the U.S. (“U.S. GAAP”).

 

Principles of Consolidation

 

The Company’s unaudited condensed consolidated financial statements include the financial statements of its wholly-owned and majority owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.

 

Use of Estimates

 

The preparation of the unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. Actual results could materially differ from these estimates. Significant estimates in the three months ended March 31, 2020 and 2019 include the allowance for doubtful accounts on accounts and other receivables, the useful life of property and equipment and intangible assets, assumptions used in assessing impairment of long-term assets, valuation of deferred tax assets, and the value of stock-based compensation.

 

6

 

 

Cash and Cash Equivalents

 

The Company considers all highly liquid instruments purchased with a maturity of three months or less and money market accounts to be cash equivalents. Cash equivalents include highly liquid investments with maturities of three months or less when purchased. Cash and cash equivalents held at financial institutions may at times exceed insured amounts. It is believed that the Company mitigates such risk by investing in or through major financial institutions.

 

Fair Value of Financial Instruments

 

The Company adopted the guidance of ASC Topic 820 for fair value measurements which clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows:

 

Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.

 

Level 2 - Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.

 

Level 3 - Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information.

 

The carrying amounts reported in the condensed consolidated balance sheets for cash and cash equivalents, accounts receivable, prepaid expenses and other receivables, short-term bank loans, convertible notes payable, note payable, accounts payable, accrued liabilities, amount due to a related party and income taxes payable approximate their fair market value based on the short-term maturity of these instruments.

 

ASC Topic 825-10 “Financial Instruments” allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable, unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company did not elect to apply the fair value option to any outstanding instruments.

 

The following table presents information about the Company’s assets and liabilities that were measured at fair value as of March 31, 2020 and December 31, 2019, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.

 

   March 31,   Quoted
Prices In
Active Markets
   Significant
Other
Observable
Inputs
   Significant
Other
Unobservable
Inputs
 
Description  2020   (Level 1)   (Level 2)   (Level 3) 
Assets:                
Marketable securities, available-for-sale  $2,531,283   $2,531,283   $   $ 
                     
   December 31,   Quoted
Prices In
Active Markets
   Significant
Other
Observable
Inputs
   Significant
Other
Unobservable
Inputs
 
Description  2019   (Level 1)   (Level 2)   (Level 3) 
Assets:                
Marketable securities, available-for-sale  $4,532,296   $4,532,296   $        –   $       – 

 

As of March 31, 2020 and December 31, 2019, the Company did not have any nonfinancial assets and liabilities that are recognized or disclosed at fair value in the financial statements, at least annually, on a recurring basis, nor did the Company have any assets or liabilities measured at fair value on a non-recurring basis.

 

Concentrations of Credit Risk

 

The Company’s operations are carried out in Hong Kong. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environment in Hong Kong. The Company’s operations in Hong Kong are subject to specific considerations and significant risks not typically associated with companies in North America. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.

 

7

 

 

Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and trade accounts receivable. Substantially all of the Company’s cash is maintained with state-owned banks within the Hong Kong, and none of these deposits are covered by insurance. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts. A significant portion of the Company’s sales are credit sales which are primarily to customers whose ability to pay is dependent upon the industry economics prevailing in these areas; however, concentrations of credit risk with respect to trade accounts receivables is limited due to generally short payment terms. The Company also performs ongoing credit evaluations of its customers to help further reduce credit risk.

 

Accounts Receivable

 

Accounts receivable are presented net of an allowance for doubtful accounts. The Company maintains allowances for doubtful accounts for estimated losses. The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances, the Company considers many factors, including the age of the balance, a customer’s historical payment history, its current credit-worthiness and current economic trends. Accounts are written off after exhaustive efforts at collection. At March 31, 2020 and December 31, 2019, the Company has established, based on a review of its outstanding balances, an allowance for doubtful accounts in the amounts of $0 and $48,952, respectively. 

 

Property and Equipment

 

Property and equipment are carried at cost and are depreciated on a straight-line basis over the estimated useful lives of the assets. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in the statements of operations in the year of disposition. The Company examines the possibility of decreases in the value of fixed assets when events or changes in circumstances reflect the fact that their recorded value may not be recoverable. Impairment loss has been recorded in current period.

 

    Useful life
Office equipment and furniture   5 years
Vehicles   5 years
Vessels   5 years

 

Depreciation expense from continuing operations for the three months ended March 31, 2020 and 2019 amounted to $33,842 and $6,245, respectively.

 

Depreciation expense from discontinued operations for the three months ended March 31, 2020 and 2019 amounted to $0 and $689,286, respectively.

 

Impairment of long-lived assets and intangible assets

 

In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. At March 31, 2020 and December 31, 2019, the Company conducted an impairment assessment on property, equipment and intangible asset based on the guidelines established in ASC Topic 360 to determine the estimated fair market value of property, equipment and intangible asset as of March 31, 2020 and December 31, 2019. Such analysis considered future use of such equipment, consultation with equipment resellers, subsequent sales of price of equipment held for sale, and other industry factors. Upon completion of the annual impairment analysis, the Company recorded impairment charges on long-lived assets of $0 and $13,586,059, for the three months ended March 31, 2020 and 2019, in relation to its discontinued operations.

 

Revenue recognition

 

In May 2014, FASB issued an update Accounting Standards Update (“ASU”) (“ASU 2014-09”) establishing Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”). ASU 2014-09, as amended by subsequent ASUs on the topic, establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance. This standard, which is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2017, requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also requires certain additional disclosures. The Company adopted this standard in 2018 using the modified retrospective approach, which requires applying the new standard to all existing contracts not yet completed as of the effective date and recording a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. Based on an evaluation of the impact ASU 2014-09 will have on the Company’s sources of revenue, the Company has concluded that ASU 2014-09 did not have a material impact on the process for, timing of, and presentation and disclosure of revenue recognition from customers.

 

8

 

 

Continuing operations

 

The Company derives its revenues from the sale of licence and advertising right and in a term of certain periods. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements:

 

  identify the contract with a customer;
  identify the performance obligations in the contract;
  determine the transaction price;
  allocate the transaction price to performance obligations in the contract; and
  recognize revenue as the performance obligation is satisfied.

  

Discontinued operations

 

The Company recognizes revenues from the sale of equipment upon shipment and transfer of title. The other elements may include installation and, generally, a one-year warranty. Equipment installation revenue is valued based on estimated service person hours to complete installation and is recognized when the labor has been completed and the equipment has been accepted by the customer, which is generally within a couple days of the delivery of the equipment. Warranty revenue is valued based on estimated service person hours to complete a service and generally is recognized over the contract period.

 

All other product sales with customer specific acceptance provisions are recognized upon customer acceptance and the delivery of the parts or service. Revenues related to spare part sales are recognized upon shipment or delivery based on the trade terms.

 

Stock-Based Compensation

 

Stock-based compensation is accounted for based on the requirements of the Share-Based Payment topic of ASC Topic 718, which requires recognition in the financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the vesting period or immediately if fully vested and non-forfeitable. The Financial Accounting Standards Board (“FASB”) also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award.

 

Foreign Currency Translation

 

The reporting currency of the Company is the U.S. dollar. The functional currency of the parent company is the U.S. dollar and the functional currency of the Company’s operating subsidiaries is the Chinese Renminbi (“RMB”) or Hong Kong dollars (HKD). For the subsidiaries and affiliates, whose functional currencies are the RMB or HKD, results of operations and cash flows are translated at average exchange rates during the period, assets and liabilities are translated at the unified exchange rate at the end of the period, and equity is translated at historical exchange rates. As a result, amounts relating to assets and liabilities reported on the statements of cash flows may not necessarily agree with the changes in the corresponding balances on the balance sheets. Translation adjustments resulting from the process of translating the local currency financial statements into U.S. dollars are included in determining comprehensive loss. The cumulative translation adjustment and effect of exchange rate changes on cash for the three months ended March 31, 2020 and 2019 was $19,919 and $169,449, respectively.

 

The Company did not enter into any material transaction in foreign currencies. Transaction gains or losses have not had, and are not expected to have, a material effect on the results of operations of the Company.

 

9

 

 

Translation of amounts from RMB and HK$ into US$ has been made at the following exchange rates for the period ended March 31, 2020 and 2019:

 

   March 31, 2020   March 31, 2019 
Period-end RMB:US$ exchange rate   7.1363    6.7112 
Period average RMB:US$ exchange rate   6.8609    6.7447 
Period-end HK$:US$ exchange rate   7.7872    7.8498 
Period average HK$:US$ exchange rate   7.8000    7.8000 

 

Loss Per Share of Common Stock

 

Basic net loss per share is computed by dividing net loss available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. The Company did not have any common stock equivalents or potentially dilutive common stock outstanding during the three months ended March 31, 2020 and 2019. In a period in which the Company has a net loss, all potentially dilutive securities are excluded from the computation of diluted shares outstanding as they would have had an anti-dilutive impact. 

 

The following table presents a reconciliation of basic and diluted net loss per share:

 

   Three months ended
March 31,
 
   2020   2019 
Net Loss for basic and diluted attributable to common shareholders  $(274,058)  $(24,720,429)
From continuing operations   (274,058)   (2,118,784)
From discontinued operations  $-   $(22,601,645)
           
Weighted average common stock outstanding – basic and diluted   199,418,592    8,118,610 
           
Net loss per share of common stock          
From continuing operations – basic and diluted  $(0.00)  $(0.28)
From discontinued operations – basic and diluted        (2.78)
Net loss per common share – basic and diluted  $(0.00)  $(3.06)

 

Comprehensive Loss

 

Comprehensive loss is comprised of net loss and all changes to the statements of stockholders’ equity, except those due to investments by stockholders, changes in paid-in capital and distributions to stockholders. For the Company, comprehensive loss income for the three months ended March 31, 2020 and 2019 included net loss, unrealized loss from fair value change of marketable securities and unrealized gain from foreign currency translation adjustments. 

  

Reclassification

 

Certain reclassifications have been made in prior period’s consolidated financial statements to conform to the current year’s financial presentation. The reclassifications have no effect on previously reported net loss.

 

10

 

 

Recent Accounting Pronouncements

 

In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”. Under ASU 2016-02, lessees will be required to recognize all leases (with the exception of short-term leases) at the commencement date including a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use (ROU) asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Leases with a term of twelve months or less will be accounted for similar to existing guidance for operating leases. In December 2017, January 2018, July 2018, December 2018 and March 2020, the FASB issued ASU 2017-13, ASU 2018-01, ASU 2018-10 & 11, ASU 2018-20 and ASU 2019-01, respectively, which contain modifications and improvements to ASU 2016-02. The amendments provide entities with an additional (and optional) transition method to adopt the new leases standard. Under the Optional Transition Method, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. On January 1, 2019, the Company adopted ASC Topic 842 using the modified retrospective approach and elected to utilize the Optional Transition Method. In addition, the Company elected the land easement transition practical expedient and did not reassess whether an existing or expired land easement is a lease or contains a lease if it has not historically been accounted for as a lease. The adoption did not impact the Company’s previously reported consolidated financial statements nor did it result in a cumulative effect adjustment to retained earnings as of January 1, 2019. 

 

In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment. ASU 2018-07 aligns the accounting for share based payments granted to non-employees with that of share based payments granted to employees. The Company early adopted ASU No. 2018-07 in the fourth quarter of 2018 and there was no cumulative effect of adoption. The adoption of this ASU did not have a material impact on our financial position, results of operations, cash flows, or presentation thereof.

 

NOTE 2 – DISCONTINUED OPERATIONS

 

On December 30, 2019, the Company’s Board of Directors approved to enter into a VIE Termination Agreement relating to the termination of the Consulting Services Agreement, Operating Agreement, Equity Pledge Agreement, Option Agreement, Voting Rights Proxy Agreement dated October 12, 2007 with Huayang Companies. The operations in China was closed down and fully written-off at December 31, 2019. The assets and liabilities of Huayang Companies have been accounted for as discontinued operations in the Company’s combined and consolidated balance sheets for all periods presented. The operating results related to these lines of business have been included in discontinued operations in the Company’s combined and consolidated statements of operations for all periods presented.

 

On March 24, 2020, the Company sold its equity interest of 80% in AnyWorkspace Limited. The assets and liabilities of AnyWorkspace Companies have been accounted for as discontinued operations in the Company’s combined and consolidated balance sheets for all periods presented. The operating results related to these lines of business have been included in discontinued operations in the Company’s combined and consolidated statements of operations for all periods presented.

 

The summarized operating result of discontinued operations included in the Company’s unaudited condensed consolidated statements of operations is as follows: 

 

   Three months ended
March 31,
 
   2020   2019 
Revenues  $-   $1,887,265 
Cost of revenues   -    (5,699,420)
Gross loss   -    (3,812,155)
Operating income:          
Other operating expense   -    (18,746,856)
Total operating expense   -    (18,746,856)
Other expense, net   -    (42,634)
Loss from discontinued operations, net of income taxes  $-   $(22,601,645)

 

11

 

 

NOTE 3 – INTANGIBLE ASSETS

 

As of March 31, 2020 and December 31, 2019, intangible assets consisted of the following:

 

   Useful life  March 31, 2020   December 31, 2019 
      (Unaudited)   (Audited) 
            
Other intangible assets  3 – 5 years   843,817    843,817 
Redemption code  5 years   750,000    750,000 
Goodwill  infinite   27,353    27,353 
       1,621,170    1,621,170 
Less: accumulated amortization      (563,225)   (512,763)
      $1,057,945   $1,108,407 

 

Amortization of intangible assets attributable to future periods is as follows:

 

Year ending March 31:  Amount 
2021  $419,317 
2022   140,353 
2023   167,932 
2024   152,988 
2025   150,000 
   $1,030,590 

 

Amortization of intangible assets from continuing operations was $50,748 and $67,723 for the three months ended March 31, 2020 and 2019, respectively. Amortization of intangible assets from discontinued operations was $0 and $20,882 for the three months ended March 31, 2020 and 2019, respectively.

 

NOTE 4 – BANK LOANS

 

Bank loans of $5,069,557 represented amount due to one financial institution in Hong Kong that are repayable in a term of 30 years, with 360 monthly installments and interest is charged at the annual rate of 2.5% below its best lending rate.

 

Revolving credit line of $4,558,749 is expected to be repaid in the next twelve months and interest is charged at the rate of 3.2625% per annum over the Hong Kong Dollar Best Lending Rate.

 

At March 31, 2020 , the banking facilities of the Company were secured by:

 

  Personal guarantee by the directors of the Company’s subsidiary;
  Legal charge and rental assignment over the leasehold land and buildings owned by its related companies which are controlled by the major shareholder of the Company, Mr. Chan Tin Chi; and
  Hong Kong Mortgage Corporation Limited.

 

At March 31, 2020 and December 31, 2019, bank loans consisted of the following:

 

   March 31,
2020
   December 31,
2019
 
   (Unaudited)   (Audited) 
Mortgage loan  $5,069,557   $5,098,796 
Line of revolving loan   4,558,749    4,558,749 
Short-term bank loans   -    1,195,297 
           
Total bank loans   9,628,306    10,852,842 
Less: Total bank loans – discontinued operations   -    (1,195,297)
Total bank loans – continuing operations  $9,628,306   $9,657,545 
           
Reclassifying as:          
Current portion  $4,683,873   $4,676,184 
Long-term portion (more than 12 months)   4,944,433    4,981,361 
           
Total bank loans  $9,628,306   $9,657,545 

 

Interest related to the bank loans from continuing operations was $95,831 and $90,815 for the three months ended March 31, 2020 and 2019, respectively. Interest related to the bank loans from discontinued operations was $0 and $41,998 for the three months ended March 31, 2020 and 2019, respectively. All interests are included in interest expense on the accompanying condensed consolidated statements of operations. 

12

 

 

NOTE 5 – CONVERTIBLE NOTE PAYABLE

 

Securities purchase agreement and related convertible note and warrants

 

On May 2, 2018, pursuant to a securities purchase agreement, the Company closed a private placement of securities with Iliad Research and Trading, L.P. (the “Investor”) pursuant to which the Investor purchased a Convertible Promissory Note (the “Iliad Note”) in the original principal amount of $900,000, convertible into shares of common stock of the Company (the “Common Stock”), upon the terms and subject to the limitations and conditions set forth in the Iliad Note, and a two year Warrant to purchase 134,328 shares of Common Stock at an exercise price of $7.18 per share (the “Warrant”). In connection with the Iliad Note, the Company paid an original issue discount of $150,000 and paid issuance costs of $45,018 which will be reflected as a debt discount and amortized over the Iliad Note term. The Iliad Note bears interest at 10% per annum, is unsecured, and is due on the date that is fifteen months from May 2, 2018. The warrants shall expire on the last calendar day of the month in which the second anniversary of the Issue Date occurs. On November 8, 2018, the Company converted an aggregate of $27,811 and $47,189 outstanding principal and interest of the Iliad Note, respectively, into a total of 36,621 shares of its common stock. On January 11, 2019, the Company converted an aggregate of $34,103 and $15,897 outstanding principal and interest of the Iliad Note, respectively, into 266,667 shares of its common stock.

 

The Investor has the right at any time after May 2, 2018 until the outstanding balance has been paid in full to convert all or any part of the outstanding balance into shares of common stock of the Company at conversion price of $6.70 per share (the “Lender Conversion Price”). The Lender Conversion Price is subject to certain adjustments set forth in the Iliad Note. The conversion price for each Redemption Conversion (the “Redemption Conversion Price”) shall be the lesser of (a) the Lender Conversion Price, and (b) the Market Price; provided, however, in no event shall the Redemption Conversion Price be less than $2.00 per share (“Conversion Price Floor”) unless the Company waive the Conversion Price Floor.

 

This debt instrument includes embedded components including a put option. The Company evaluated these embedded components to determine whether they are embedded derivatives within the scope of ASC 815 that should be separately carried at fair value. ASC 815-15-25-1 provides guidance on when an embedded component should be separated from its host instrument and accounted for separately as a derivative. Based on this analysis, the Company believes that the put option is clearly and closely related to the debt instrument and does not meet the definition of a derivative. Accordingly, in connection with this Iliad Note, the Company recorded a debt discount for (a) the original issue discount of $150,000 (b) the relative fair value of the warrants issued of $152,490 and (c) legal fees and other fees paid in connection with the Iliad Note aggregating $45,018. There is no beneficial conversion feature on this Iliad Note. The debt discount shall be accreted on a straight line basis over the term of this Iliad Note.

 

As of March 31, 2020 and December 31, 2019, convertible debt consisted of the following:

 

   March 31,
2020
   December 31,
2019
 
   (Unaudited)   (Audited) 
Principal  $838,571   $838,571 
Unamortized discount   -    - 
Convertible debt, net  $838,571   $838,571 

 

There was no amortization of discount for the three months ended March 31, 2020 and 2019. As of March 31, 2020 and December 31, 2019, accrued interest amounted to $85,803 and $63,303, respectively.

 

NOTE 6 – RELATED PARTY TRANSACTIONS

 

Due to related parties

 

From time to time, during 2019 and 2018, the Company receive advances from Chan Tin Chi Family Company Limited (formerly known as YSK 1860 Co., Limited), who is the major shareholder of the Company for working capital purposes. These advances are non-interest bearing and are payable on demand. During the three months ended March 31, 2020 and 2019, the Company received advances from Chan Tin Chi Family Company Limited for working capital totaled $310,493 and $820,061, respectively, and repaid to Chan Tin Chi Family Company Limited a total of $0 and $31,604, respectively. At March 31, 2020 and December 31, 2019, amounts due to Chan Tin Chi Family Company Limited amounted to $2,356,455 and $2,045,962, respectively.

 

At March 31, 2020 and December 31, 2019, amounts due to related companies amounted to $377,389 and $319,542, respectively.

 

The amounts are unsecured, interest-free and have no fixed terms of repayment.

 

13

 

 

NOTE 7 – STOCKHOLDERS’ DEFICIT

 

In March 2020, an amendment to The Company’s Articles of Incorporation to increase the number of shares of common stock which the Company is authorized to issue from 250,000,000 to 7,450,000,000 was approved. The Company issued the remaining 7,018,360,787 shares of common stock to Peak Equity shareholders subsequently in April 2020.

 

As of March 31, 2020, the Company’s authorized share is 7,450,000,000 common shares with a par value of $0.001 per share, consisting of 50,000,000 shares of preferred stock and 7,400,000,000 shares of common stock.

 

As of March 31, 2020 and December 31, 2019, the Company has 199,418,592 shares and 199,418,592 shares of common stock issued and outstanding, respectively.

 

NOTE 8 – CONCENTRATIONS

 

Customers

 

For the three months ended March 31, 2020 and 2019, there are no customers representing more than 10% of the Company’s revenue.

 

Vendors

 

For the three months ended March 31, 2020 and 2019, there are no vendors representing more than 10% of the Company’s purchase.

 

NOTE 9 – COMMITMENT AND CONTINGENCIES

 

Litigation: 

 

On April 25, 2019, ECPower (HK) Company Limited (“EC Power”), a subsidiary of SEII, filed a claim against The Dairy Farm Limited (“Dairy Farm”) in respect of the cooperation agreement between the two parties for the battery rental business at 7-Eleven outlets in Hong Kong during the period from September 2017 to February 2018. The claim is for a total compensation of HK$1,395,000 (approximately $178,846) which comprises of (i) HK$45,000 (approximately $5,769) as compensation for interest and administration cost incurred as a result of Dairy Farm’s delay in payment of EC Power’s share of the rental income, and (ii) HK$1,350,000 (approximately $173,077) as compensation for Dairy Farm’s early termination of the cooperation agreement without any valid proof of fault on the part of EC Power.

 

Legal proceedings:

 

On June 10, 2020, the Company’s subsidiary, Ecrent Worldwide Company Limited (“Ecrent Worldwide”), a wholly owned subsidiary of Universal Sharing Limited (formerly known as Ecrent Holdings Limited), received a writ of summon (the “Summon”) issued by Messrs Wilkinson & Grist on behalf of Mr. Michael Andrew BERMAN and Mr. Eric Hans ISRAEL, who were the former Chief Executive Officer and Chief Financial Officer of Ecrent (America) Company Limited (“Ecrent America”) and Ecrent (USA) Company Limited (“Ecrent USA”). Both Ecrent America and Ecrent USA were the former subsidiaries of Universal Sharing Limited. On the same day, the Summon also delivered to Mr. Chan Tin Chi, the major shareholder of SEII and his spouse, Ms. Deborah Yuen Wai Ming. Pursuant to the US Judgement dated on September 25, 2019 issued by the Supreme Court of the State of New York County of Nassau, the Summon demands Ecrent Worldwide, Mr. Chan Tin Chi, and Ms. Deborah Yuen Wai Ming to fully settle an amount of approximately $241,706 and $103,841 to Mr. Berman and Mr. Israel, respectively representing the unpaid salary, benefits, expenses and incentive bonus. SEII intends to dispute these proceedings that the US Judgement is not enforceable under the Hong Kong jurisdiction.

 

In accordance with applicable accounting guidance, the Company records accruals for certain of its outstanding legal proceedings, investigations or claims when it is probable that a liability will be incurred, and the amount of loss can be reasonably estimated. The Company evaluates, on a quarterly basis, developments in legal proceedings, investigations or claims that could affect the amount of any accrual, as well as any developments that would make a loss contingency both probable and reasonably estimable. The Company discloses the amount of the accrual if the financial statements would be otherwise misleading.

 

When a loss contingency is not both probable and estimable, the Company does not establish an accrued liability. However, if the loss (or an additional loss in excess of the accrual) is at least a reasonable possibility and material, then the Company discloses an estimate of the possible loss or range of loss, if such estimate can be made or discloses that an estimate cannot be made.

 

14

 

 

NOTE 10 – SUBSEQUENT EVENTS 

 

The Company is currently in default under Iliad Note with the outstanding balance of $838,571 in principal and $63,303 accrued interest at December 31, 2019. In April 2020, an amount of $100,000 was redeemed and converted 502,955 shares of the Company’s common stock. The remaining outstanding balance of Iliad Note was $1,269,464 at April 30, 2020. At the date of filing, both parties have not reached into the mutual agreement.

 

On April 5, 2020, the Company and Oasis Capital, LLC (“Oasis”) entered into a Equity Purchase Agreement, Oasis shall purchase from the Company up to Four Million Dollars ($4,000,000) of the Company’s Common Stock, at 85% of Market Price. On April 15, 2020, 400,000 shares of Common Stock has issued by the Company to Oasis as Commitment Shares. 

 

On April 7, 2020, the Company and Power Up Lending Group Ltd., (“Power Up”) entered into a Securities Purchase Agreement, whereby the Company issued a note to Power Up (the “Power Up Note”) in the principal amount of $83,000 with additional tranches of up to $1,000,000 in the aggregate over the next twelve (12) months, subject to the discretion of both parties. The Power Up Note is a convertible into shares of the common stock of the Company at a price equal to 65% of the average of the two (2) lowest trading prices for the Company’s common stock during the twenty (20) trading day period ending on the latest complete trading day prior to the conversion date.

 

On April 8, 2020, the Company and shareholder of OOB HK Media HK Limited (“OOB HK”) Entered into a Share Exchange Agreement, whereby the Company shall issue 239,387,189 shares of series A convertible preferred stock at a price of $0.33 per share, in exchange of 100% ownership of OOB HK, which owns 100% of Tone Rich (Shanghai) Limited that holds 69.6% of OOB Media (Sichuan) Company Limited, an advertising media technology and agency company. 

 

On April 14, 2020, the Company and Black Ice Advisors, LLC (“Black Ice”) entered into a Securities Purchase Agreement, whereby the Company issued a note to Black Ice (the “Black Ice Note”) in the principal amount of $110,000 in exchange for a total investment of $100,000. The Black Ice Note is a convertible into shares of the common stock of the Company at a price equal to 60% of the lowest trading price of the Company’s common stock for the fifteen (15) prior trading days including the day upon which a Notice of Conversion is received by the Company.

 

On April 21, 2020, the Company and StockVest (“StockVest”) entered into a Consulting, Public Relationship and Marketing Letter Agreement, StockVest shall provide SEII with coverage and launch a market awareness campaign and perform various public and investor relation services including but not limited to, news dissemination, creation and distribution of investor information, double opt-in email campaigns, internet profiles and social media feeds. On April 29, 2020, 400,000 shares of common stock has issued by the Company to StockVest as service fee.

 

In May 2020, a 1-for-50 reverse stock split of the issued and outstanding shares of our common stock was approved.

 

15

 

  

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

Overview

 

Historically, our primary operations involved the design, manufacture and distribution of a line of proprietary high and low temperature dyeing and finishing machinery to the textile industry, which has terminated in December, 2019.

 

With the termination of the manufacturing businesses, we are actively exploring other new ventures and opportunities that could contribute to our business in the future.

 

Given the termination of our manufacturing business, we continued to pursue what we believe are high growth opportunities for the Company, particularly our new business divisions focused on the development of sharing economy platforms and related rental businesses within the company. These initiatives are still in an early stage and are dependent in large part on availability of capital to fund their future growth. We did not generate significant revenues from our sharing economy business initiatives in 2019 or during the three months ended March 31, 2020.

 

Recent developments

 

Inspirit Studio

 

During the period, BuddiGo, the sharing economy mobile platform developed by Inspirit Studio Limited (“Inspirit Studio”), continuously promoted its service to the local market in Hong Kong. BuddiGo offers a wide range of errand services. Currently, about 80 percent of the orders received are for on-demand urgent delivery of items such as documents, flowers and cakes. Food delivery services are also available. During the period from June 2018 to March 31, 2019, over 1,200 individuals have officially registered as sell-side buddies, who completed over 600 delivery orders from June 2018 to March 31, 2020, majority orders were happened in the third quarter of year 2018. In addition, BuddiGo has signed up with a number of local business partners to provide ongoing delivery services for these clients. BuddiGo’s goal is to connect with the community and deliver localized content featuring BuddiGo’s core features and advantages. BuddiGo is actively seeking strategic investors or collaborative parties who are enthusiastic about its business model and can help achieve its business targets and expand into different countries.

 

3D Discovery Co. Limited

 

3D Discovery, an IT service provider that develops virtual tours for the real estate, hospitality and interior design industries. 3D Discovery’s space capturing and modeling technology is already used by some of Hong Kong’s leading property agencies to provide their clients with a truly immersive, first-hand experience of a physical space while saving them time and money. According to Goldman Sachs, the Real Estate virtual reality (“VR”) industry is predicted to reach $2.6 billion in 2025, supported by a potential user base of over 1.4 million registered real estate agents in some of the world’s largest markets. Apart from its existing profitable operations, 3D Discovery is developing a mobile app, Autocap, which allows users to create an interactive virtual tour of a physical space by using a mobile phone camera.

 

3D Discovery successfully completed a number of projects during the year. First, its “3D Virtual Tours in Hong Kong” generated about 1,371,000 impressions in 2018. In addition, 3D Discovery partnered with Midland Realty, one of the largest real estate agencies in Hong Kong, to establish the “Creation 200 3D Virtual Tours.”.

 

EC Advertising Limited

  

We started meeting with a number of potential clients there and anticipate that this advertising company will confirm with them several marketing campaigns. In order to maximize our exposure to the potential clients in Mainland China, we are developing a strategic media plan which will cover major cities in Mainland China such as Beijing, Shanghai, Guangzhou and Shenzhen. Major banks, real estate developers and consumer products manufacturers and retailers are our target clients. More importantly, our presence in Mainland China can facilitate the rollout of franchise programs of our business units, which is one of the revenue drivers for the Company.

 

16

 

 

ECrent Platform Business 

 

In December 2019, we have acquired the ECrent global businesses.

 

Going forward, we will continue targeting the technology and global sharing economy markets, by developing online platforms and rental business partnerships that will drive the global development of sharing through economical rental business models.

  

Critical Accounting Policies and Estimates

 

Our discussion and analysis of our financial condition and results of operations are based upon our consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these consolidated financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. We continually evaluate our estimates, including those related to bad debts, inventories, recovery of long-lived assets, income taxes and the valuation of equity transactions.

 

We base our estimates on historical experience and on various other assumptions that we believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Any future changes to these estimates and assumptions could cause a material change to our reported amounts of revenues, expenses, assets and liabilities. Actual results may differ from these estimates under different assumptions or conditions. We believe the following critical accounting policies affect our more significant judgments and estimates used in the preparation of the consolidated financial statements.

 

Accounts Receivable

 

We have a policy of reserving for uncollectible accounts based on our best estimate of the amount of probable credit losses in our existing accounts receivable. We periodically review our accounts receivable to determine whether an allowance is necessary based on an analysis of past due accounts and other factors that may indicate that the realization of an account may be in doubt. Account balances deemed to be uncollectible are charged to the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.

  

As a basis for estimating the likelihood of collection has been established, we consider a number of factors when determining reserves for uncollectable accounts. We believe that we use a reasonably reliable methodology to estimate the collectability of our accounts receivable. We review our allowances for doubtful accounts on at least a quarterly basis. We also consider whether the historical economic conditions are comparable to current economic conditions. If the financial condition of our customers or other parties that we have business relations with were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may be required.

 

17

 

 

Property and Equipment

 

Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using straight-line method over the estimated useful lives of the assets. The estimated useful lives of the assets are as follows:

 

    Useful Life
Office equipment and furniture   5 Years
Vehicles   5 Years
Vessels   5 Years

  

The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in the statements of income and comprehensive income in the year of disposition.

 

We examine the possibility of decreases in the value of fixed assets when events or changes in circumstances reflect the fact that their recorded value may not be recoverable. We recognize an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. 

 

Stock-based Compensation

 

Stock-based compensation is accounted for based on the requirements of the Share-Based Payment topic of ASC 718 which requires recognition in the financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the vesting period or immediately if the award is non-forfeitable. The Accounting Standards Codification also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award.

 

Additionally, effective January 1, 2017, the Company adopted the Accounting Standards Update No. 2016-09 (“ASU 2016-09”), Improvements to Employee Share-Based Payment Accounting. ASU 2016-09 permits the election of an accounting policy for forfeitures of share-based payment awards, either to recognize forfeitures as they occur or estimate forfeitures over the vesting period of the award. The Company has elected to recognize forfeitures as they occur and the cumulative impact of this change did not have any effect on the Company’s consolidated financial statements and related disclosures.

 

Through September 30, 2018, pursuant to ASC 505-50 – “Equity-Based Payments to Non-Employees”, all share-based payments to non-employees, including grants of stock options, were recognized in the consolidated financial statements as compensation expense over the service period of the consulting arrangement or until performance conditions are expected to be met. The Company periodically reassessed the fair value of non-employee share based payments until service conditions are met, which generally aligns with the vesting period of the equity instrument, and the Company adjusts the expense recognized in the consolidated financial statements accordingly. In June 2018, the FASB issued ASU No. 2018-07, Improvements to Nonemployee Share-Based Payment Accounting, which simplifies several aspects of the accounting for nonemployee share-based payment transactions by expanding the scope of the stock-based compensation guidance in ASC 718 to include share-based payment transactions for acquiring goods and services from non-employees. ASU No. 2018-07 is effective for annual periods beginning after December 15, 2018, including interim periods within those annual periods. Early adoption is permitted, but entities may not adopt prior to adopting the new revenue recognition guidance in ASC 606. The Company early adopted ASU No. 2018-07 in the fourth quarter of 2018 and there was no cumulative effect of adoption.

 

18

 

  

Currency Exchange Rates

 

Our functional currency is the U.S. dollar, and the functional currency of our operating subsidiaries is the RMB and Hong Kong Dollar.

 

Our exposure to foreign exchange risk primarily relates to currency gains or losses resulting from timing differences between signing of sales contracts and settling of these contracts. Furthermore, we translate monetary assets and liabilities denominated in other currencies into RMB, the functional currency of our operating subsidiary. Our results of operations and cash flow are translated at average exchange rates during the period, and assets and liabilities are translated at the unified exchange rate at the end of the period. Translation adjustments resulting from this process are included in accumulated other comprehensive income in our statement of shareholders’ equity. We have not used any forward contracts, currency options or borrowings to hedge our exposure to foreign currency exchange risk. We cannot predict the impact of future exchange rate fluctuations on our results of operations and may incur net foreign currency losses in the future.

  

Our financial statements are expressed in U.S. dollars, which is the functional currency of our parent company. The functional currency of our operating subsidiaries and affiliates is RMB and the Hong Kong dollar. To the extent we hold assets denominated in U.S. dollars, any appreciation of the RMB or HKD against the U.S. dollar could result in a charge in our statement of operations and a reduction in the value of our U.S. dollar denominated assets. On the other hand, a decline in the value of RMB or HKD against the U.S. dollar could reduce the U.S. dollar equivalent amounts of our financial results.

 

Recent Accounting Pronouncements 

 

In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”. Under ASU 2016-02, lessees will be required to recognize all leases (with the exception of short-term leases) at the commencement date including a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use (ROU) asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Leases with a term of twelve months or less will be accounted for similar to existing guidance for operating leases. In December 2017, January 2018, July 2018, December 2018, December 2019 and March 2020, the FASB issued ASU 2017-13, ASU 2018-01, ASU 2018-10 & 11, ASU 2018-20 and ASU 2019-01, respectively, which contain modifications and improvements to ASU 2016-02. The amendments provide entities with an additional (and optional) transition method to adopt the new leases standard. Under the Optional Transition Method, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. On January 1, 2019, the Company adopted ASC Topic 842 using the modified retrospective approach and elected to utilize the Optional Transition Method. In addition, the Company elected the land easement transition practical expedient and did not reassess whether an existing or expired land easement is a lease or contains a lease if it has not historically been accounted for as a lease. The adoption did not impact the Company’s previously reported consolidated financial statements nor did it result in a cumulative effect adjustment to retained earnings as of January 1, 2019. 

 

In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment. ASU 2018-07 aligns the accounting for share based payments granted to non-employees with that of share based payments granted to employees. The Company early adopted ASU No. 2018-07 in the fourth quarter of 2018 and there was no cumulative effect of adoption. The adoption of this ASU did not have a material impact on our financial position, results of operations, cash flows, or presentation thereof.

 

19

 

 

RESULTS OF OPERATIONS

 

Three months ended March 31, 2020 and 2019

 

The following table sets forth the results of our operations for the three months ended March 31, 2020 and 2019:

 

   Three Months ended
March 31,
 
   2020   2019 
   Dollars   Dollars 
Revenues  $26,447   $3,789 
Cost of revenues   781    21,214 
Gross profit (loss)   25,666    (17,425)
Operating expenses   606,043    2,211,129 
Loss from operations   (580,377)   (2,228,554)
Other expense, net   (96,265)   (92,298)
Loss from continuing operations before provision for income taxes   (676,642)   (2,320,852)
Provision for income taxes   -    - 
Loss from continuing operations   (676,642)   (2,320,852)
Gain from discontinued operations, net of income taxes   -    (22,601,645)
Net loss  $(676,642)  $(24,922,497)

 

Revenues.

 

During the three months ended March 31, 2020, we recognized revenues from our sharing economy business of $26,447 compared to $3,789 for the three months ended March 31, 2019, an increase of $22,658, or 598.0%.

 

Cost of revenues.

 

Cost of revenues includes commission costs. For the three months ended March 31, 2020, cost of revenues was $781 as compared to $21,214 for the three months ended March 31, 2019, a decrease of $20,433, or 96.3%.

 

Gross profit (loss) and gross margin.

 

Our gross profit was $25,666 for the three months ended March 31, 2020 as compared to gross loss of $17,425 for the three months ended March 31, 2019, representing gross margins of 97% and (460%), respectively. The increase in our gross margin for the three months ended March 31, 2020 was primarily attributed to the reduced scale of commissions paid to the agents.

 

Operating expenses.

 

For the three months ended March 31, 2020, operating expenses were $606,043 as compared to $2,211,129 for the three months ended March 31, 2019, a decrease of $1,605,086, or 72.6%, due to the decrease in selling, general and administrative expense, mainly relating to stock-based compensation expense of $1,557,288.

  

20

 

 

Loss from operations.

 

As a result of the factors described above, for the three months ended March 31, 2020, loss from operations amounted to $580,377, as compared to $2,228,554 for the three months ended March 31, 2019.

 

Other income (expense).

 

Other income (expense) includes interest income, interest expense, foreign currency transaction gain (loss), loss on disposal of a subsidiary, and other income. For the three months ended March 31, 2020, total other expense, net, amounted to $96,265 as compared to $92,298 for the three months ended March 31, 2019, an increase of $3,967, or 4.3%. The increase in other expense, net, was primarily attributable to losses incurred in the three months ended March 31, 2020 related to loss on disposal of a subsidiary of $70,901.

 

Income tax provisionIncome tax expense was $0 for the three months ended March 31, 2020 and 2019.

 

Loss from continuing operations. As a result of the foregoing, our loss from continuing operations was $676,642, or $(0.00) per share (basic and diluted), for the three months ended March 31, 2020, as compared with loss from continuing operations of $2,320,852, or $(0.28) per share (basic and diluted), for the three months ended March 31, 2019, a decrease of $1,644,210, or 70.8%.

 

Loss from discontinued operations, net of income taxes. Our loss from discontinued operations was $0, or $0.00 per share (basic and diluted), for the three months ended March 31, 2020, as compared with loss from discontinued operations of $22,601,645, or $2.78 per share (basic and diluted), for the three months ended March 31, 2019.

 

The summarized operating result of discontinued operations included our condensed consolidated statements of operations is as follows:

 

   Three Months ended
March 31,
 
   2020   2019 
Revenues  $      -   $1,887,265 
Cost of revenues   -    (5,699,420)
Gross loss   -    (3,812,155)
           
Other operating expenses   -    (18,746,856)
Loss from discontinued operations before income taxes   -    (22,559,011)
Other expense, net        (42,634)
Income taxes   -    - 
Loss from discontinued operations, net of income taxes  $-   $(22,601,645)

 

Net loss.

 

As a result of the foregoing, our net loss was $676,642, or $(0.00) per share (basic and diluted), for the three months ended March 31, 2020, as compared with net loss $24,922,497, or $(3.06) per share (basic and diluted), for the three months ended March 31, 2019, a change of approximately $24,245,855, or 97.3%.

 

21

 

 

Liquidity and Capital Resources

 

Three Months Ended March 31, 2020 Compared to Three Months Ended March 31, 2019

 

As of March 31, 2020 and December 31, 2019, we had cash and cash equivalents of approximately $45,708 and $83,667, respectively.

 

The following table sets forth a summary of our cash flows for the periods as indicated:

 

   For the Three Months ended 
   March 31, 
   2020   2019 
Net cash used in operating activities  $(365,392)  $(386,546)
Net cash provided by investing activities  $8,251   $- 
Net cash provided by financing activities  $339,101   $95,060 
Effect of exchange rate changes on cash and cash equivalents  $(19,919)  $(169,449)
Net decrease in cash and cash equivalents  $(37,959)  $(460,935)
Cash and cash equivalents at beginning of period  $83,667   $883,461 
Less: cash and cash equivalents from discontinued operations  $-   $(211,049)
Cash and cash equivalents at end of period  $45,708   $211,477 

 

The following table sets forth a summary of changes in our working capital from December 31, 2019 to March 31, 2020 (dollars in thousands):

 

   March 31,
2020
   December 31,
2019
   Change in Working Capital   Percentage Change 
Working capital:                
Total current assets  $3,456   $5,636   $(2,180)   (38.7)%
Total current liabilities   9,074    8,683    391    4.5%
Working capital  $(5,618)  $(3,047)  $(2,571)   84.4%

 

Working Capital. Total working capital as of March 31, 2020 amounted to approximately negative $5.6 million, as compared to approximately negative $3.0 million as of December 31, 2019. The deterioration in working capital was due mainly to a decline in net assets.

 

22

 

 

Net cash used in operating activities was $365,392 for the three months ended March 31, 2020, and consisted primarily of a net loss of $2,677,655, adjusted for depreciation and amortization of $84,590, written-off prepayments of $122,514, impairment loss on marketable securities of $2,001,013 and the loss on disposal of a subsidiary of $70,901, an increase in accounts receivable of $9,561, a decrease in prepaid expenses and other receivables of $28,450, a decrease in accounts payable of $510,743, an increase in accrued expenses of $531,312, a decrease in taxes payable of $6,802, and an increase in deferred revenue of $589.

 

Net cash used in operating activities was $134,697 for the three months ended March 31, 2019, and consisted primarily of a net loss of $2,320,852, adjusted for depreciation and amortization of $73,968, stock-based compensation of $1,557,288, amortization of debt discount of $69,502, a decrease in accounts receivable of $40,989, a decrease in prepaid expenses and other receivables of $242,912, an increase in accounts payable of $228,068, an increase in accrued expenses of $874, a decrease in taxes payable of $27,446. Net cash flow used in operating activities from discontinued operations was $251,849.

 

23

 

 

Net cash flow provided by investing activities was $8,251 for the three months ended March 31, 2020 as compared to $0 for the three months ended March 31, 2019. For the three months ended March 31, 2020, net cash flow provided by investing activities reflects cash received from disposal of subsidiary of $8,251.

 

Net cash flow provided by financing activities was $339,101 for the three months ended March 31, 2020 as compared to $95,060 for the three months ended March 31, 2019. During the three months ended March 31, 2020, we received advances from related party of $368,340, offset by repayments for bank loans of approximately $29,239. During the three months ended March 31, 2019, we received advances from related party of $135,691 and received proceeds from sale of common stock of $200,100, offset by repayments for related party advance of $31,604. Net cash flow used in financing activities from discontinued operations was $209,127.

 

We have historically funded our capital expenditures through cash flow provided by operations and bank loans. We intend to fund the cost by obtaining financing mainly from local banking institutions with which we have done business in the past. We believe that the relationships with local banks are in good standing and we have not encountered difficulties in obtaining needed borrowings from local banks.  

 

Contractual Obligations and Off-Balance Sheet Arrangements

 

Contractual Obligations

 

We have certain fixed contractual obligations and commitments that include future estimated payments. Changes in our business needs, cancellation provisions, changing interest rates, and other factors may result in actual payments differing from the estimates. We cannot provide certainty regarding the timing and amounts of payments. We have presented below a summary of the most significant assumptions used in our determination of amounts presented in the tables, in order to assist in the review of this information within the context of our consolidated financial position, results of operations, and cash flows. The following tables summarize our contractual obligations as of March 31, 2020 (dollars in thousands), and the effect these obligations are expected to have on our liquidity and cash flows in future periods.

 

   Payments Due by Period 
Contractual obligations:  Total   Less than
1 year
   1-3 years   3-5 years   5+ years 
Bank loans  $9,628   $4,684   $4,944   $    -   $    - 
Convertible note (1)   838    838    -    -    - 
Total  $10,466   $5,522   $4,944   $-   $- 

 

(1) Convertible note is currently in default with the outstanding balance of $838,571 in principal and $85,803 accrued interest at March 31, 2020. In April 2020, an amount of $100,000 was redeemed and converted 502,955 shares of the Company’s common stock. The remaining outstanding balance of Iliad Note was $1,269,464 at April 30, 2020. At the date of filing, both parties have not reached into the mutual agreement.

 

24

 

 

Off-balance Sheet Arrangements

 

We have not entered into any other financial guarantees or other commitments to guarantee the payment obligations of any third parties. We have not entered into any derivative contracts that are indexed to our shares and classified as shareholder’s equity or that are not reflected in our consolidated financial statements. Furthermore, we do not have any retained or contingent interest in assets transferred to an unconsolidated entity that serves as credit, liquidity or market risk support to such entity. We do not have any variable interest in any unconsolidated entity that provides financing, liquidity, market risk or credit support to us or engages in leasing, hedging or research and development services with us.

 

Inflation

 

The effect of inflation on our revenue and operating results was not significant.

 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 

Not required for smaller reporting companies.

 

ITEM 4. CONTROLS AND PROCEDURES

 

Disclosure Controls and Procedures

 

As required by Rule 13a-15 under the Exchange Act, our management, including Anthony Che Chung Chan, our chief executive officer, and Ka Man Lam, our chief financial officer, evaluated the effectiveness of the design and operation of our disclosure controls and procedures as of March 31, 2020.

 

Disclosure controls and procedures refer to controls and other procedures designed to ensure that information required to be disclosed in the reports we file or submit under the Securities Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC and that such information is accumulated and communicated to our management, including our chief executive officer and chief financial officer, as appropriate, to allow timely decisions regarding required disclosure. In designing and evaluating our disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management is required to apply its judgment in evaluating and implementing possible controls and procedures.

 

Management conducted its evaluation of disclosure controls and procedures under the supervision of our chief executive officer and our chief financial officer. Based on that evaluation, the management concluded that, because our internal controls over financial reporting are not effective, as described below, our disclosure controls and procedures were not effective as of March 31, 2020.

 

Management’s Report on Internal Control over Financial Reporting

 

Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act. Our management is also required to assess and report on the effectiveness of our internal control over financial reporting in accordance with Section 404 of the Sarbanes-Oxley Act of 2002 (“Section 404”). Our management identified material weaknesses related to (i) Lack of segregation of duties within accounting functions, (ii) Lack of accounting expertise in US GAAP, and (iii) Insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC guidelines. Our internal controls over financial reporting were not effective at March 31, 2020.

 

25

 

 

Due to the current size and nature of business, segregation of all conflicting duties may not always be possible and may not be economically feasible, and we continue to rely on third parties for a significant portion of the preparation of our financial statements. As a result, we have not been able to take steps to improve our internal controls over financial reporting. However, to the extent possible, we will implement procedures to assure that the initiation of transactions, the custody of assets and the recording of transactions will be performed by separate individuals.

 

A material weakness (within the meaning of PCAOB Auditing Standard No. 5) is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control over financial reporting that is less severe than a material weakness, yet important enough to merit attention by those responsible for oversight of the company’s financial reporting.

 

In light of these material weaknesses, we performed additional analyses and procedures in order to conclude that our consolidated financial statements for the three months ended March 31, 2020 included in this Quarterly Report on Form 10-Q were fairly stated in accordance with the U.S. GAAP. Accordingly, management believes that despite our material weaknesses, our consolidated financial statements for the three months ended March 31, 2020 are fairly stated, in all material respects, in accordance with the U.S. GAAP.

 

Changes in Internal Controls over Financial Reporting

 

There were no changes (including corrective actions with regard to significant deficiencies or material weaknesses) in our internal controls over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting. 

 

26

 

 

PART II - OTHER INFORMATION

 

ITEM 5. EXHIBITS

 

31.1   Rule 13a-14(a)/15d-14(a) certification of Chief Executive Officer *
31.2   Rule 13a-14(a)/15d-14(a) certification of Principal Financial Officer *
32.1   Section 1350 certification of Chief Executive Officer and Chief Financial Officer *
101.INS   XBRL Instance Document
101.SCH   XBRL Taxonomy Extension Schema Document
101.CAL   XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF   XBRL Taxonomy Extension Definition Linkbase Document
101.LAB   XBRL Taxonomy Extension Label Linkbase Document
101.PRE   XBRL Taxonomy Extension Presentation Linkbase Document

 

*Filed herein

 

27

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

  SHARING ECONOMY INTERNATIONAL INC.
     
Date: August 31, 2020 By: /s/ Anthony Che Chung Chan
    Anthony Che Chung Chan
    Chief Executive Officer and
    Principal Executive Officer
     
Date: August 31, 2020 By: /s/ Ka Man Lam
    Ka Man Lam
    Chief Financial Officer and
    Principal Accounting Officer

 

 

 

28

 

 

EX-31.1 2 f10q0320ex31-1_sharingeco.htm CERTIFICATION

Exhibit 31.1

 

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE

SARBANES-OXLEY ACT OF 2002

 

I, Anthony Che Chung Chan, certify that:

 

1. I have reviewed this quarterly report on Form 10-Q of Sharing Economy International Inc.;

 

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

 

b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

c)evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

 

d)disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting;

 

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):

 

a)all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.

 

Dated: August 31, 2020 By: /s/ Anthony Che Chung Chan
   

Anthony Che Chung Chan

Chief Executive Officer
(Principal Executive Officer)

EX-31.2 3 f10q0320ex31-2_sharingeco.htm CERTIFICATION

Exhibit 31.2

 

CERTIFICATION OF PRINCIPAL FINANCIAL AND ACCOUNTING OFFICER

PURSUANT TO SECTION 302 OF THE

SARBANES-OXLEY ACT OF 2002

 

I, Ka Man Lam, certify that:

 

1. I have reviewed this quarterly report on Form 10-Q of Sharing Economy International Inc.;

 

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

 

b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

c)evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

 

d)disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting;

 

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent function):

 

a)all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.

 

Dated: August 31, 2020 By: /s/ Ka Man Lam
   

Ka Man Lam

Chief Financial Officer
(Principal Accounting Officer)

EX-32.1 4 f10q0320ex32-1_sharingeco.htm CERTIFICATION

Exhibit 32.1

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of Sharing Economy International Inc. (the “Company”) on Form 10-Q for the period ended March 31, 2020 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), Anthony Che Chung Chan, chief executive officer of the Company, and Ka Man Lam, chief financial officer of the Company, certify, pursuant to 18 U.S.C. section 1350 of the Sarbanes-Oxley Act of 2002, that:

 

(1)The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

Dated: August 31, 2020 By: /s/ Anthony Che Chung Chan
    Anthony Che Chung Chan

Chief Executive Officer

    (Principal Executive Officer) 

 

Dated: August 31, 2020 By: /s/ Ka Man Lam
    Ka Man Lam

Chief Financial Officer

(Principal Accounting Officer)

 

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-101.INS 5 seii-20200331.xml XBRL INSTANCE FILE 0000819926 2020-01-01 2020-03-31 0000819926 2020-08-16 0000819926 2020-03-31 0000819926 2019-12-31 0000819926 us-gaap:SeriesAPreferredStockMember 2020-03-31 0000819926 us-gaap:SeriesAPreferredStockMember 2019-12-31 0000819926 2019-01-01 2019-03-31 0000819926 us-gaap:CommonStockMember 2019-12-31 0000819926 seii:CommonStockToBeIssuedMember 2019-12-31 0000819926 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0000819926 us-gaap:RetainedEarningsMember 2019-12-31 0000819926 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0000819926 us-gaap:NoncontrollingInterestMember 2019-12-31 0000819926 us-gaap:CommonStockMember 2020-01-01 2020-03-31 0000819926 seii:CommonStockToBeIssuedMember 2020-01-01 2020-03-31 0000819926 us-gaap:AdditionalPaidInCapitalMember 2020-01-01 2020-03-31 0000819926 seii:StatutoryReserveMember 2020-01-01 2020-03-31 0000819926 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-03-31 0000819926 us-gaap:NoncontrollingInterestMember 2020-01-01 2020-03-31 0000819926 us-gaap:RetainedEarningsMember 2020-01-01 2020-03-31 0000819926 us-gaap:CommonStockMember 2020-03-31 0000819926 seii:CommonStockToBeIssuedMember 2020-03-31 0000819926 us-gaap:AdditionalPaidInCapitalMember 2020-03-31 0000819926 us-gaap:RetainedEarningsMember 2020-03-31 0000819926 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-03-31 0000819926 us-gaap:NoncontrollingInterestMember 2020-03-31 0000819926 us-gaap:CommonStockMember 2018-12-31 0000819926 seii:CommonStockToBeIssuedMember 2018-12-31 0000819926 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0000819926 us-gaap:RetainedEarningsMember 2018-12-31 0000819926 seii:StatutoryReserveMember 2018-12-31 0000819926 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0000819926 us-gaap:NoncontrollingInterestMember 2018-12-31 0000819926 2018-12-31 0000819926 us-gaap:CommonStockMember 2019-01-01 2019-03-31 0000819926 seii:CommonStockToBeIssuedMember 2019-01-01 2019-03-31 0000819926 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-03-31 0000819926 us-gaap:RetainedEarningsMember 2019-01-01 2019-03-31 0000819926 seii:StatutoryReserveMember 2019-01-01 2019-03-31 0000819926 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0000819926 us-gaap:NoncontrollingInterestMember 2019-01-01 2019-03-31 0000819926 us-gaap:CommonStockMember 2019-03-31 0000819926 seii:CommonStockToBeIssuedMember 2019-03-31 0000819926 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0000819926 us-gaap:RetainedEarningsMember 2019-03-31 0000819926 seii:StatutoryReserveMember 2019-03-31 0000819926 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0000819926 us-gaap:NoncontrollingInterestMember 2019-03-31 0000819926 2019-03-31 0000819926 seii:ECTechnologyMember seii:InspiritStudioLimitedMember 2017-12-08 0000819926 seii:ECTechnologyMember seii:DiscoveryCoLimitedMember 2018-01-19 0000819926 seii:SubsidiariesThreeMember 2018-01-30 0000819926 seii:SubsidiariesThreeMember 2020-03-24 0000819926 2020-03-01 2020-03-24 0000819926 us-gaap:FairValueInputsLevel1Member 2020-03-31 0000819926 us-gaap:FairValueInputsLevel2Member 2020-03-31 0000819926 us-gaap:FairValueInputsLevel3Member 2020-03-31 0000819926 us-gaap:FairValueInputsLevel1Member 2019-12-31 0000819926 us-gaap:FairValueInputsLevel2Member 2019-12-31 0000819926 us-gaap:FairValueInputsLevel3Member 2019-12-31 0000819926 srt:MinimumMember us-gaap:BuildingAndBuildingImprovementsMember 2020-01-01 2020-03-31 0000819926 srt:MinimumMember us-gaap:VehiclesMember 2020-01-01 2020-03-31 0000819926 srt:MinimumMember seii:VesselsMember 2020-01-01 2020-03-31 0000819926 seii:PeriodendRMBUSExchangeRateMember 2020-03-31 0000819926 seii:PeriodendRMBUSExchangeRateMember 2019-03-31 0000819926 seii:PeriodAverageRMBUSExchangeRateMember 2020-03-31 0000819926 seii:PeriodAverageRMBUSExchangeRateMember 2019-03-31 0000819926 seii:PeriodendHKUSExchangeRateMember 2020-03-31 0000819926 seii:PeriodendHKUSExchangeRateMember 2019-03-31 0000819926 seii:PeriodAverageHKUSExchangeRateMember 2020-03-31 0000819926 seii:PeriodAverageHKUSExchangeRateMember 2019-03-31 0000819926 2020-03-24 0000819926 us-gaap:IntangibleAssetsAmortizationPeriodMember 2020-01-01 2020-03-31 0000819926 us-gaap:IntangibleAssetsAmortizationPeriodMember 2019-01-01 2019-03-31 0000819926 srt:MinimumMember us-gaap:OtherIntangibleAssetsMember 2020-01-01 2020-03-31 0000819926 srt:MaximumMember us-gaap:OtherIntangibleAssetsMember 2020-01-01 2020-03-31 0000819926 us-gaap:OtherIntangibleAssetsMember 2020-03-31 0000819926 us-gaap:OtherIntangibleAssetsMember 2019-12-31 0000819926 seii:RedemptionCodeMember 2020-01-01 2020-03-31 0000819926 seii:RedemptionCodeMember 2020-03-31 0000819926 seii:RedemptionCodeMember 2019-12-31 0000819926 us-gaap:GoodwillMember 2020-01-01 2020-03-31 0000819926 us-gaap:GoodwillMember 2020-03-31 0000819926 us-gaap:GoodwillMember 2019-12-31 0000819926 pf0:HK 2020-01-01 2020-03-31 0000819926 seii:StockPurchaseAgreementsMember us-gaap:InvestorMember 2018-05-02 0000819926 seii:StockPurchaseAgreementsMember us-gaap:ConvertibleDebtMember 2018-04-15 2018-05-02 0000819926 seii:StockPurchaseAgreementsMember 2018-11-08 0000819926 seii:StockPurchaseAgreementsMember 2018-11-01 2018-11-08 0000819926 seii:StockPurchaseAgreementsMember 2019-01-01 2019-01-11 0000819926 seii:StockPurchaseAgreementsMember 2019-01-11 0000819926 2019-01-01 2019-01-11 0000819926 seii:Ysk1860Co.LimitedMember 2020-01-01 2020-03-31 0000819926 srt:MinimumMember us-gaap:CommonStockMember 2020-01-01 2020-03-31 0000819926 srt:MaximumMember us-gaap:CommonStockMember 2020-01-01 2020-03-31 0000819926 us-gaap:CommonStockMember us-gaap:SubsequentEventMember 2020-04-01 2020-04-30 0000819926 us-gaap:CustomerContractsMember 2020-01-01 2020-03-31 0000819926 us-gaap:SupplierConcentrationRiskMember 2020-01-01 2020-03-31 0000819926 us-gaap:CustomerContractsMember 2019-01-01 2019-03-31 0000819926 us-gaap:SupplierConcentrationRiskMember 2019-01-01 2019-03-31 0000819926 2019-03-26 2019-04-25 0000819926 2019-09-02 2019-09-25 0000819926 us-gaap:SubsequentEventMember 2020-04-01 2020-04-30 0000819926 us-gaap:SubsequentEventMember 2020-04-01 2020-04-05 0000819926 seii:StockPurchaseAgreementsMember us-gaap:SubsequentEventMember 2020-04-01 2020-04-07 0000819926 seii:ShareExchangeAgreementMember us-gaap:SubsequentEventMember 2020-04-01 2020-04-08 0000819926 us-gaap:SubsequentEventMember 2020-04-14 0000819926 us-gaap:SubsequentEventMember 2020-04-01 2020-04-14 0000819926 us-gaap:SubsequentEventMember 2020-04-21 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure 10-Q 2020-03-31 001-34591 SHARING ECONOMY INTERNATIONAL INC. NV Yes Yes Non-accelerated Filer true false false false --12-31 Q1 2020 0000819926 7222853342 45708 83667 9866 305 868919 1019883 2531283 4532296 3455776 5636151 586118 620075 1057945 1108407 1644063 1728482 5099839 7364633 4683873 4676184 838571 838571 5598 516341 811253 279941 2733844 2365504 6802 589 9073728 8683343 4944433 4981361 14018161 13664704 199418 199418 7018942 7018942 53699861 53699861 -66574745 -66300687 -1968118 42957 -7624642 -5339869 -1293680 -960202 -8918322 -6300071 5099839 7364633 0.001 0.001 10000000 10000000 0.001 0.001 50000000 50000000 0 0 0 0 0.001 0.001 7400000000 7400000000 199418592 199418592 26447 3789 781 21214 25666 -17425 84590 73968 398939 2137161 122514 606043 2211129 -580377 -2228554 2 9 95831 90815 -70901 3099 1492 73564 -96265 -92298 -676642 -2320852 -676642 -2320852 -22601645 -676642 -24922497 -402584 -202068 -274058 -24720429 -2001013 -9702 682029 -2687357 -24240468 -402584 -202068 1394 -363 -2286167 -24038037 0.00 -0.28 -2.78 0.00 -3.06 199418592 8118610 199418592 199418 7018942195 7018942 53699861 -66300687 42597 -960202 67712 67712 -274058 -402584 -2001013000000 9702 1394 -8308 199418592 199418 7018942195 7018942 53699861 -66574745 -1968118 -1293680 188506928 188507 7018942195 7018942 58452131 -40099942 2352592 2695362 -539802 30067790 690000 690 199410 200100 901948 902 190854 191756 -270479 -270 -947678 -947948 266667 267 49733 50000 85470 85 259513 259598 -24720429 -202068 674392 -363 674029 190180534 190181 7018942195 7018942 58203963 -64820371 2352592 3369754 -742233 5572828 33842 6245 50748 67723 1557288 69502 9561 -40989 -28450 -242912 -510743 228068 531312 874 -6802 -27446 589 -365392 -134697 -251849 -365392 -386546 -8251 8251 8251 -29239 368340 135691 31604 200100 339101 304187 -209127 339101 95060 -19919 -169449 -37959 -460935 83667 883461 45708 422526 -211049 45708 211477 95831 90815 41998 111280 50000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 1 &#x2013;&#xa0;<font style="text-decoration:underline">DESCRIPTION OF BUSINESS AND ORGANIZATION</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sharing Economy International Inc. (the &#x201c;Company&#x201d;) was incorporated in Delaware on June 24, 1987 under the name of Malex, Inc. On December 18, 2007, the Company&#x2019;s corporate name was changed to China Wind Systems, Inc. and on June 13, 2011, the Company changed its corporate name to Cleantech Solutions International, Inc. On August 7, 2012, the Company was converted into a Nevada corporation. On January 8, 2018, the Company changed its corporate name to Sharing Economy International Inc.&#xa0;</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following the closure of its operations in the PRC during 2019, the Company&#x2019;s latest business initiatives are focused on targeting the technology and global sharing economy markets, by developing online platforms and rental business partnerships that will drive the global development of sharing through economical rental business models. In connection with the new business initiatives, the Company formed or acquired the following subsidiaries:</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vantage Ultimate Limited (&#x201c;Vantage&#x201d;), a company incorporated under the laws of British Virgin Islands on February 1, 2017 and is wholly-owned by the Company.</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sharing Economy Investment Limited (&#x201c;Sharing Economy&#x201d;), a company incorporated under the laws of British Virgin Islands on May 18, 2017 and is wholly-owned by Vantage.</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">EC Advertising Limited (&#x201c;EC Advertising&#x201d;), a company incorporated under the laws of Hong Kong on March 17, 2017 and is a wholly-owned by Sharing Economy.</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">EC Rental Limited (&#x201c;EC Rental&#x201d;), a company incorporated under the laws of British Virgin Islands on May 22, 2017 and is wholly-owned by Vantage.</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">EC Assets Management Limited (&#x201c;EC Assets&#x201d;), a company incorporated under the laws of British Virgin Islands on May 22, 2017 and is wholly-owned by Vantage.</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cleantech Solutions Limited (formerly known as EC (Fly Car) Limited), a company incorporated under the laws of British Virgin Islands on May 22, 2017 and is a wholly-owned by Sharing Economy. </font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Bike Share (Mobile App) Limited, a company incorporated under the laws of British Virgin Islands on May 23, 2017 and is a wholly-owned by Sharing Economy.</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">EC Power (Global) Technology Limited (&#x201c;EC Power&#x201d;), a company incorporated under the laws of British Virgin Islands on May 26, 2017 and is wholly-owned by EC Rental.</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ECPower (HK) Company Limited, a company incorporated under the laws of Hong Kong on June 23, 2017 and is wholly-owned by EC Power.</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">EC Manpower Limited, a company incorporated under the laws of Hong Kong on July 3, 2017 and is wholly-owned by Vantage.</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">EC Technology &amp; Innovations Limited (&#x201c;EC Technology&#x201d;), a company incorporated under the laws of British Virgin Islands on September 1, 2017 and is wholly-owned by Vantage.</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inspirit Studio Limited (&#x201c;Inspirit Studios&#x201d;), a company incorporated under the laws of Hong Kong on August 24, 2015, and 51% of its shareholding was acquired by EC Technology on December 8, 2017.</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">EC Creative Limited (&#x201c;EC Creative&#x201d;), a company incorporated under the laws of British Virgin Islands on January 9, 2018 and is wholly-owned by Vantage.</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3D Discovery Co. Limited (&#x201c;3D Discovery&#x201d;), a company incorporated under the laws of Hong Kong on February 24, 2015, and 60% of its shareholdings was acquired by EC Technology on January 19, 2018.</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sharing Film International Limited, a company incorporated under the laws of Hong Kong on January 22, 2018 and is a wholly-owned by EC Creative.</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">AnyWorkspace Limited (&#x201c;AnyWorkspace&#x201d;), a company incorporated under the laws of Hong Kong on November 12, 2015, and 80% of its shareholding was acquired by Sharing Economy on January 30, 2018.</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Xiamen Great Media Company Limited (&#x201c;Xiamen Great Media&#x201d;), a company incorporated under the laws of the PRC on September 5, 2018 and is a wholly-owned by EC Advertising.</font></td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 24, 2020, the Company sold its equity interest of 80% in AnyWorkspace Limited for a consideration of approximately $8,251 with a loss on disposal of $70,901.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Going Concern</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying condensed consolidated financial statements, the Company had a loss from continuing operations of approximately $676,642 for the three months ended March 31, 2020 and suffered from the accumulated deficit of $66,574,745 at that date. The net cash used in operations were approximately $365,392 for the three months ended March 31, 2020. Management believes that its capital resources are not currently adequate to continue operating and maintaining its business strategy for twelve months from the date of this report. The Company may seek to raise capital through additional debt and/or equity financings to fund its operations in the future. Although the Company has historically raised capital from sales of equity and from bank loans, there is no assurance that it will be able to continue to do so. If the Company is unable to raise additional capital or secure additional lending in the near future, management expects that the Company will need to curtail or cease operations.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management believes that these matters raise substantial doubt about the Company&#x2019;s ability to continue as a going concern. The accompanying condensed consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or classification of liabilities that might be necessary should the Company be unable to continue as a going concern.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Listing Status</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 26, 2018, Sharing Economy International Inc. (the &#x201c;Company&#x201d;) received a staff determination notice from The Nasdaq Stock Market (&#x201c;Nasdaq&#x201d;) informing the Company that as a result of its failure to comply with Nasdaq&#x2019;s shareholder approval requirements set forth in Listing Rule 5635(c) (the &#x201c;Rule&#x201d;), the staff determined to deny the Company&#x2019;s request for continued listing based on a plan of compliance submitted on October 26, 2018. The Company&#x2019;s common stock was delisted from Nasdaq at the open of trading on December 5, 2018. The Company&#x2019;s common stock is currently trading on the OTC Markets under the symbol &#x201c;SEII&#x201d;. On January 2, 2020, the Company is trading on OTCQB.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Basis of Presentation</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited condensed consolidated financial statements have been prepared by management in accordance with both accounting principles generally accepted in the United States (&#x201c;GAAP&#x201d;), and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Certain information and note disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2019 and footnotes thereto included in the Company&#x2019;s Annual Report on Form 10-K filed with the SEC on July 24, 2020. The consolidated balance sheet as of December 31, 2019 contained herein has been derived from the audited consolidated financial statements as of December 31, 2019, but does not include all disclosures required by the generally accepted accounting principles in the U.S. (&#x201c;U.S. GAAP&#x201d;).</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Principles of Consolidation</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company&#x2019;s unaudited condensed consolidated financial statements include the financial statements of its wholly-owned and majority owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Use of Estimates</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of the unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. Actual results could materially differ from these estimates. Significant estimates in the three months ended March 31, 2020 and 2019 include the allowance for doubtful accounts on accounts and other receivables, the useful life of property and equipment and intangible assets, assumptions used in assessing impairment of long-term assets, valuation of deferred tax assets, and the value of stock-based compensation.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Cash and Cash Equivalents</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company considers all highly liquid instruments purchased with a maturity of three months or less and money market accounts to be cash equivalents. Cash equivalents include highly liquid investments with maturities of three&#xa0;months or less when purchased. Cash and cash equivalents held at financial institutions may at times exceed insured amounts. It is believed that the Company mitigates such risk by investing in or through major financial institutions.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Fair Value of Financial Instruments</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company adopted the guidance of ASC Topic 820 for fair value measurements which clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows:</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 - Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Level 3 - Inputs are unobservable inputs which reflect the reporting entity&#x2019;s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The carrying amounts reported in the condensed consolidated balance sheets for cash and cash equivalents, accounts receivable, prepaid expenses and other receivables, short-term bank loans, convertible notes payable, note payable, accounts payable, accrued liabilities, amount due to a related party and income taxes payable approximate their fair market value based on the short-term maturity of these instruments.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASC Topic 825-10 &#x201c;Financial Instruments&#x201d; allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable, unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company did not elect to apply the fair value option to any outstanding instruments.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents information about the Company&#x2019;s assets and liabilities that were measured at fair value as of March 31, 2020 and December 31, 2019, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">March&#xa0;31,</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">Quoted <br/> Prices In <br/> Active Markets</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">Significant <br/> Other <br/> Observable <br/> Inputs</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">Significant <br/> Other <br/> Unobservable <br/> Inputs</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Description</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 1)</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 2)</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 3)</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>Assets:</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding-bottom: 1.5pt">Marketable securities, available-for-sale</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">2,531,283</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">2,531,283</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">&#x2013;</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">&#x2013;</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">December&#xa0;31,</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">Quoted <br/> Prices In <br/> Active Markets</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">Significant <br/> Other <br/> Observable <br/> Inputs</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="3" style="text-align: center">Significant <br/> Other <br/> Unobservable <br/> Inputs</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="border-bottom: Black 1.5pt solid">Description</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 1)</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 2)</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 3)</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>Assets:</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="3" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding-bottom: 1.5pt">Marketable securities, available-for-sale</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">4,532,296</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">4,532,296</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#x2013;</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: right">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#x2013;</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2020 and December 31, 2019, the Company did not have any nonfinancial assets and liabilities that are recognized or disclosed at fair value in the financial statements, at least annually, on a recurring basis, nor did the Company have any assets or liabilities measured at fair value on a non-recurring basis.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Concentrations of Credit Risk</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company&#x2019;s operations are carried out in Hong Kong. Accordingly, the Company&#x2019;s business, financial condition and results of operations may be influenced by the political, economic and legal environment in Hong Kong. The Company&#x2019;s operations in Hong Kong are subject to specific considerations and significant risks not typically associated with companies in North America. The Company&#x2019;s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and trade accounts receivable. Substantially all of the Company&#x2019;s cash is maintained with state-owned banks within the Hong Kong, and none of these deposits are covered by insurance. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts. A significant portion of the Company&#x2019;s sales are credit sales which are primarily to customers whose ability to pay is dependent upon the industry economics prevailing in these areas; however, concentrations of credit risk with respect to trade accounts receivables is limited due to generally short payment terms. The Company also performs ongoing credit evaluations of its customers to help further reduce credit risk.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Accounts Receivable</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable are presented net of an allowance for doubtful accounts. The Company maintains allowances for doubtful accounts for estimated losses. The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances, the Company considers many factors, including the age of the balance, a customer&#x2019;s historical payment history, its current credit-worthiness and current economic trends. Accounts are written off after exhaustive efforts at collection. At March 31, 2020 and December 31, 2019, the Company has established, based on a review of its outstanding balances, an allowance for doubtful accounts in the amounts of $0 and $48,952, respectively.&#xa0;</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Property and Equipment</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment are carried at cost and are depreciated on a straight-line basis over the estimated useful lives of the assets. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in the statements of operations in the year of disposition. The Company examines the possibility of decreases in the value of fixed assets when events or changes in circumstances reflect the fact that their recorded value may not be recoverable. Impairment loss has been recorded in current period.</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 85%; padding-right: 0.8pt; text-align: justify">&#xa0;</td> <td style="width: 1%; padding-right: 0.8pt">&#xa0;</td> <td style="width: 14%; border-bottom: black 1.5pt solid; padding-right: 0.8pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Useful life</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-right: 0.8pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Office equipment and furniture</font></td> <td style="padding-right: 0.8pt">&#xa0;</td> <td style="padding-right: 0.8pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5 years</font></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-right: 0.8pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vehicles</font></td> <td style="padding-right: 0.8pt">&#xa0;</td> <td style="padding-right: 0.8pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5 years</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-right: 0.8pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vessels</font></td> <td style="padding-right: 0.8pt">&#xa0;</td> <td style="padding-right: 0.8pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5 years</font></td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation expense from continuing operations for the three months ended March 31, 2020 and 2019 amounted to $33,842 and $6,245, respectively.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Depreciation expense from discontinued operations for the three months ended March 31, 2020 and 2019 amounted to $0 and $689,286, respectively.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Impairment of long-lived assets and intangible assets</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset&#x2019;s estimated fair value and its book value. At March 31, 2020 and December 31, 2019, the Company conducted an impairment assessment on property, equipment and intangible asset based on the guidelines established in ASC Topic 360 to determine the estimated fair market value of property, equipment and intangible asset as of March 31, 2020 and December 31, 2019. Such analysis considered future use of such equipment, consultation with equipment resellers, subsequent sales of price of equipment held for sale, and other industry factors. Upon completion of the annual impairment analysis, the Company recorded impairment charges on long-lived assets of $0 and $13,586,059, for the three months ended March 31, 2020 and 2019, in relation to its discontinued operations.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Revenue recognition</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In May 2014, FASB issued an update Accounting Standards Update (&#x201c;ASU&#x201d;) (&#x201c;ASU 2014-09&#x201d;) establishing Accounting Standards Codification (&#x201c;ASC&#x201d;) Topic 606, <i>Revenue from Contracts with Customers </i>(&#x201c;ASC 606&#x201d;). ASU 2014-09, as amended by subsequent ASUs on the topic, establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance. This standard, which is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2017, requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also requires certain additional disclosures. The Company adopted this standard in 2018 using the modified retrospective approach, which requires applying the new standard to all existing contracts not yet completed as of the effective date and recording a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. Based on an evaluation of the impact ASU 2014-09 will have on the Company&#x2019;s sources of revenue, the Company has concluded that ASU 2014-09 did not have a material impact on the process for, timing of, and presentation and disclosure of revenue recognition from customers.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Continuing operations</i></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company derives its revenues from the sale of licence and advertising right and in a term of certain periods. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements:</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">identify the contract with a customer;</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">identify the performance obligations in the contract;</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">determine the transaction price;</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">allocate the transaction price to performance obligations in the contract; and</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">recognize revenue as the performance obligation is satisfied.</font></td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Discontinued operations</i></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes revenues from the sale of equipment upon shipment and transfer of title. The other elements may include installation and, generally, a one-year warranty. Equipment installation revenue is valued based on estimated service person hours to complete installation and is recognized when the labor has been completed and the equipment has been accepted by the customer, which is generally within a couple days of the delivery of the equipment. Warranty revenue is valued based on estimated service person hours to complete a service and generally is recognized over the contract period.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All other product sales with customer specific acceptance provisions are recognized upon customer acceptance and the delivery of the parts or service. Revenues related to spare part sales are recognized upon shipment or delivery based on the trade terms.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Stock-Based Compensation</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock-based compensation is accounted for based on the requirements of the Share-Based Payment topic of ASC Topic 718, which requires recognition in the financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the vesting period or immediately if fully vested and non-forfeitable. The Financial Accounting Standards Board (&#x201c;FASB&#x201d;) also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Foreign Currency Translation</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The reporting currency of the Company is the U.S. dollar. The functional currency of the parent company is the U.S. dollar and the functional currency of the Company&#x2019;s operating subsidiaries is the Chinese Renminbi (&#x201c;RMB&#x201d;) or Hong Kong dollars (HKD). For the subsidiaries and affiliates, whose functional currencies are the RMB or HKD, results of operations and cash flows are translated at average exchange rates during the period, assets and liabilities are translated at the unified exchange rate at the end of the period, and equity is translated at historical exchange rates. As a result, amounts relating to assets and liabilities reported on the statements of cash flows may not necessarily agree with the changes in the corresponding balances on the balance sheets. Translation adjustments resulting from the process of translating the local currency financial statements into U.S. dollars are included in determining comprehensive loss. The cumulative translation adjustment and effect of exchange rate changes on cash for the three months ended March 31, 2020 and 2019 was $19,919 and $169,449, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company did not enter into any material transaction in foreign currencies. Transaction gains or losses have not had, and are not expected to have, a material effect on the results of operations of the Company.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Translation of amounts from RMB and HK$ into US$ has been made at the following exchange rates for the period ended March 31, 2020 and 2019:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, 2020</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, 2019</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: -5.65pt; padding-left: 5.65pt">Period-end RMB:US$ exchange rate</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">7.1363</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">6.7112</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 1.4pt">Period average RMB:US$ exchange rate</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6.8609</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6.7447</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 1.4pt">Period-end HK$:US$ exchange rate</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7.7872</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7.8498</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; padding-left: 1.4pt">Period average HK$:US$ exchange rate</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">7.8000</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">7.8000</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Loss Per Share of Common Stock</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic net loss per share is computed by dividing net loss available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. The Company did not have any common stock equivalents or potentially dilutive common stock outstanding during the three months ended March 31, 2020 and 2019. In a period in which the Company has a net loss, all potentially dilutive securities are excluded from the computation of diluted shares outstanding as they would have had an anti-dilutive impact.&#xa0;</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents a reconciliation of basic and diluted net loss per share:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">Three months ended<br/> March 31,</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-bottom: 1.5pt">Net Loss for basic and diluted attributable to common shareholders</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">(274,058</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">(24,720,429</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">From continuing operations</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(274,058</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(2,118,784</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">From discontinued operations</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(22,601,645</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted average common stock outstanding &#x2013; basic and diluted</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">199,418,592</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,118,610</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Net loss per share of common stock</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">From continuing operations &#x2013; basic and diluted</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.00</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.28</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">From discontinued operations &#x2013; basic and diluted</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">&#xa0;</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2.78</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt">Net loss per common share &#x2013; basic and diluted</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(0.00</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(3.06</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Comprehensive Loss</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Comprehensive loss is comprised of net loss and all changes to the statements of stockholders&#x2019; equity, except those due to investments by stockholders, changes in paid-in capital and distributions to stockholders. For the Company, comprehensive loss income for the three months ended March 31, 2020 and 2019 included net loss, unrealized loss from fair value change of marketable securities and unrealized gain from foreign currency translation adjustments.&#xa0;</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Reclassification</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain reclassifications have been made in prior period&#x2019;s consolidated financial statements to conform to the current year&#x2019;s financial presentation. The reclassifications have no effect on previously reported net loss.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Recent Accounting Pronouncements</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February 2016, the FASB issued ASU 2016-02, &#x201c;Leases (Topic 842)&#x201d;. Under ASU 2016-02, lessees will be required to recognize all leases (with the exception of short-term leases) at the commencement date including a lease liability, which is a lessee&#x2019;s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use (ROU) asset, which is an asset that represents the lessee&#x2019;s right to use, or control the use of, a specified asset for the lease term. Leases with a term of twelve months or less will be accounted for similar to existing guidance for operating leases. In December 2017, January 2018, July 2018, December 2018 and March 2020, the FASB issued ASU 2017-13, ASU 2018-01, ASU 2018-10 &amp; 11, ASU 2018-20 and ASU 2019-01, respectively, which contain modifications and improvements to ASU 2016-02. The amendments provide entities with an additional (and optional) transition method to adopt the new leases standard. Under the Optional Transition Method, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. On January 1, 2019, the Company adopted ASC Topic 842 using the modified retrospective approach and elected to utilize the Optional Transition Method. In addition, the Company elected the land easement transition practical expedient and did not reassess whether an existing or expired land easement is a lease or contains a lease if it has not historically been accounted for as a lease. The adoption did not impact the Company&#x2019;s previously reported consolidated financial statements nor did it result in a cumulative effect adjustment to retained earnings as of January 1, 2019.&#xa0;</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2018, the FASB issued ASU 2018-07, Compensation&#x2014;Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment. ASU 2018-07 aligns the accounting for share based payments granted to non-employees with that of share based payments granted to employees. The Company early adopted ASU No. 2018-07 in the fourth quarter of 2018 and there was no cumulative effect of adoption. The adoption of this ASU did not have a material impact on our financial position, results of operations, cash flows, or presentation thereof.</font></p><br/> 0.51 0.60 0.80 0.80 8251 70901 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Going Concern</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying condensed consolidated financial statements, the Company had a loss from continuing operations of approximately $676,642 for the three months ended March 31, 2020 and suffered from the accumulated deficit of $66,574,745 at that date. The net cash used in operations were approximately $365,392 for the three months ended March 31, 2020. Management believes that its capital resources are not currently adequate to continue operating and maintaining its business strategy for twelve months from the date of this report. The Company may seek to raise capital through additional debt and/or equity financings to fund its operations in the future. Although the Company has historically raised capital from sales of equity and from bank loans, there is no assurance that it will be able to continue to do so. If the Company is unable to raise additional capital or secure additional lending in the near future, management expects that the Company will need to curtail or cease operations.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management believes that these matters raise substantial doubt about the Company&#x2019;s ability to continue as a going concern. The accompanying condensed consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or classification of liabilities that might be necessary should the Company be unable to continue as a going concern.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Listing Status</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 26, 2018, Sharing Economy International Inc. (the &#x201c;Company&#x201d;) received a staff determination notice from The Nasdaq Stock Market (&#x201c;Nasdaq&#x201d;) informing the Company that as a result of its failure to comply with Nasdaq&#x2019;s shareholder approval requirements set forth in Listing Rule 5635(c) (the &#x201c;Rule&#x201d;), the staff determined to deny the Company&#x2019;s request for continued listing based on a plan of compliance submitted on October 26, 2018. The Company&#x2019;s common stock was delisted from Nasdaq at the open of trading on December 5, 2018. The Company&#x2019;s common stock is currently trading on the OTC Markets under the symbol &#x201c;SEII&#x201d;. On January 2, 2020, the Company is trading on OTCQB.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Basis of Presentation</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited condensed consolidated financial statements have been prepared by management in accordance with both accounting principles generally accepted in the United States (&#x201c;GAAP&#x201d;), and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Certain information and note disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2019 and footnotes thereto included in the Company&#x2019;s Annual Report on Form 10-K filed with the SEC on July 24, 2020. The consolidated balance sheet as of December 31, 2019 contained herein has been derived from the audited consolidated financial statements as of December 31, 2019, but does not include all disclosures required by the generally accepted accounting principles in the U.S. (&#x201c;U.S. GAAP&#x201d;).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Principles of Consolidation</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company&#x2019;s unaudited condensed consolidated financial statements include the financial statements of its wholly-owned and majority owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of the unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. Actual results could materially differ from these estimates. Significant estimates in the three months ended March 31, 2020 and 2019 include the allowance for doubtful accounts on accounts and other receivables, the useful life of property and equipment and intangible assets, assumptions used in assessing impairment of long-term assets, valuation of deferred tax assets, and the value of stock-based compensation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Cash and Cash Equivalents</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company considers all highly liquid instruments purchased with a maturity of three months or less and money market accounts to be cash equivalents. Cash equivalents include highly liquid investments with maturities of three&#xa0;months or less when purchased. Cash and cash equivalents held at financial institutions may at times exceed insured amounts. It is believed that the Company mitigates such risk by investing in or through major financial institutions.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Fair Value of Financial Instruments</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company adopted the guidance of ASC Topic 820 for fair value measurements which clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows:</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 - Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Level 3 - Inputs are unobservable inputs which reflect the reporting entity&#x2019;s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The carrying amounts reported in the condensed consolidated balance sheets for cash and cash equivalents, accounts receivable, prepaid expenses and other receivables, short-term bank loans, convertible notes payable, note payable, accounts payable, accrued liabilities, amount due to a related party and income taxes payable approximate their fair market value based on the short-term maturity of these instruments.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASC Topic 825-10 &#x201c;Financial Instruments&#x201d; allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable, unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company did not elect to apply the fair value option to any outstanding instruments.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents information about the Company&#x2019;s assets and liabilities that were measured at fair value as of March 31, 2020 and December 31, 2019, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">March&#xa0;31,</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">Quoted <br/> Prices In <br/> Active Markets</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">Significant <br/> Other <br/> Observable <br/> Inputs</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">Significant <br/> Other <br/> Unobservable <br/> Inputs</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Description</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 1)</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 2)</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 3)</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>Assets:</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding-bottom: 1.5pt">Marketable securities, available-for-sale</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">2,531,283</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">2,531,283</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">&#x2013;</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">&#x2013;</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">December&#xa0;31,</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">Quoted <br/> Prices In <br/> Active Markets</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">Significant <br/> Other <br/> Observable <br/> Inputs</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="3" style="text-align: center">Significant <br/> Other <br/> Unobservable <br/> Inputs</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="border-bottom: Black 1.5pt solid">Description</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 1)</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 2)</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 3)</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>Assets:</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="3" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding-bottom: 1.5pt">Marketable securities, available-for-sale</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">4,532,296</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">4,532,296</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#x2013;</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: right">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#x2013;</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2020 and December 31, 2019, the Company did not have any nonfinancial assets and liabilities that are recognized or disclosed at fair value in the financial statements, at least annually, on a recurring basis, nor did the Company have any assets or liabilities measured at fair value on a non-recurring basis.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Concentrations of Credit Risk</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company&#x2019;s operations are carried out in Hong Kong. Accordingly, the Company&#x2019;s business, financial condition and results of operations may be influenced by the political, economic and legal environment in Hong Kong. The Company&#x2019;s operations in Hong Kong are subject to specific considerations and significant risks not typically associated with companies in North America. The Company&#x2019;s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and trade accounts receivable. Substantially all of the Company&#x2019;s cash is maintained with state-owned banks within the Hong Kong, and none of these deposits are covered by insurance. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts. A significant portion of the Company&#x2019;s sales are credit sales which are primarily to customers whose ability to pay is dependent upon the industry economics prevailing in these areas; however, concentrations of credit risk with respect to trade accounts receivables is limited due to generally short payment terms. The Company also performs ongoing credit evaluations of its customers to help further reduce credit risk.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Accounts Receivable</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable are presented net of an allowance for doubtful accounts. The Company maintains allowances for doubtful accounts for estimated losses. The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances, the Company considers many factors, including the age of the balance, a customer&#x2019;s historical payment history, its current credit-worthiness and current economic trends. Accounts are written off after exhaustive efforts at collection. At March 31, 2020 and December 31, 2019, the Company has established, based on a review of its outstanding balances, an allowance for doubtful accounts in the amounts of $0 and $48,952, respectively.&#xa0;</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Property and Equipment</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment are carried at cost and are depreciated on a straight-line basis over the estimated useful lives of the assets. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in the statements of operations in the year of disposition. The Company examines the possibility of decreases in the value of fixed assets when events or changes in circumstances reflect the fact that their recorded value may not be recoverable. Impairment loss has been recorded in current period.</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 85%; padding-right: 0.8pt; text-align: justify">&#xa0;</td> <td style="width: 1%; padding-right: 0.8pt">&#xa0;</td> <td style="width: 14%; border-bottom: black 1.5pt solid; padding-right: 0.8pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Useful life</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-right: 0.8pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Office equipment and furniture</font></td> <td style="padding-right: 0.8pt">&#xa0;</td> <td style="padding-right: 0.8pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5 years</font></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-right: 0.8pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vehicles</font></td> <td style="padding-right: 0.8pt">&#xa0;</td> <td style="padding-right: 0.8pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5 years</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-right: 0.8pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vessels</font></td> <td style="padding-right: 0.8pt">&#xa0;</td> <td style="padding-right: 0.8pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5 years</font></td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation expense from continuing operations for the three months ended March 31, 2020 and 2019 amounted to $33,842 and $6,245, respectively.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Depreciation expense from discontinued operations for the three months ended March 31, 2020 and 2019 amounted to $0 and $689,286, respectively.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Impairment of long-lived assets and intangible assets</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset&#x2019;s estimated fair value and its book value. At March 31, 2020 and December 31, 2019, the Company conducted an impairment assessment on property, equipment and intangible asset based on the guidelines established in ASC Topic 360 to determine the estimated fair market value of property, equipment and intangible asset as of March 31, 2020 and December 31, 2019. Such analysis considered future use of such equipment, consultation with equipment resellers, subsequent sales of price of equipment held for sale, and other industry factors. Upon completion of the annual impairment analysis, the Company recorded impairment charges on long-lived assets of $0 and $13,586,059, for the three months ended March 31, 2020 and 2019, in relation to its discontinued operations.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Revenue recognition</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In May 2014, FASB issued an update Accounting Standards Update (&#x201c;ASU&#x201d;) (&#x201c;ASU 2014-09&#x201d;) establishing Accounting Standards Codification (&#x201c;ASC&#x201d;) Topic 606, <i>Revenue from Contracts with Customers </i>(&#x201c;ASC 606&#x201d;). ASU 2014-09, as amended by subsequent ASUs on the topic, establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance. This standard, which is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2017, requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also requires certain additional disclosures. The Company adopted this standard in 2018 using the modified retrospective approach, which requires applying the new standard to all existing contracts not yet completed as of the effective date and recording a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. Based on an evaluation of the impact ASU 2014-09 will have on the Company&#x2019;s sources of revenue, the Company has concluded that ASU 2014-09 did not have a material impact on the process for, timing of, and presentation and disclosure of revenue recognition from customers.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Continuing operations</i></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company derives its revenues from the sale of licence and advertising right and in a term of certain periods. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements:</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">identify the contract with a customer;</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">identify the performance obligations in the contract;</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">determine the transaction price;</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">allocate the transaction price to performance obligations in the contract; and</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">recognize revenue as the performance obligation is satisfied.</font></td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Discontinued operations</i></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes revenues from the sale of equipment upon shipment and transfer of title. The other elements may include installation and, generally, a one-year warranty. Equipment installation revenue is valued based on estimated service person hours to complete installation and is recognized when the labor has been completed and the equipment has been accepted by the customer, which is generally within a couple days of the delivery of the equipment. Warranty revenue is valued based on estimated service person hours to complete a service and generally is recognized over the contract period.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All other product sales with customer specific acceptance provisions are recognized upon customer acceptance and the delivery of the parts or service. Revenues related to spare part sales are recognized upon shipment or delivery based on the trade terms.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Stock-Based Compensation</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock-based compensation is accounted for based on the requirements of the Share-Based Payment topic of ASC Topic 718, which requires recognition in the financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the vesting period or immediately if fully vested and non-forfeitable. The Financial Accounting Standards Board (&#x201c;FASB&#x201d;) also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Foreign Currency Translation</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The reporting currency of the Company is the U.S. dollar. The functional currency of the parent company is the U.S. dollar and the functional currency of the Company&#x2019;s operating subsidiaries is the Chinese Renminbi (&#x201c;RMB&#x201d;) or Hong Kong dollars (HKD). For the subsidiaries and affiliates, whose functional currencies are the RMB or HKD, results of operations and cash flows are translated at average exchange rates during the period, assets and liabilities are translated at the unified exchange rate at the end of the period, and equity is translated at historical exchange rates. As a result, amounts relating to assets and liabilities reported on the statements of cash flows may not necessarily agree with the changes in the corresponding balances on the balance sheets. Translation adjustments resulting from the process of translating the local currency financial statements into U.S. dollars are included in determining comprehensive loss. The cumulative translation adjustment and effect of exchange rate changes on cash for the three months ended March 31, 2020 and 2019 was $19,919 and $169,449, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company did not enter into any material transaction in foreign currencies. Transaction gains or losses have not had, and are not expected to have, a material effect on the results of operations of the Company.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Translation of amounts from RMB and HK$ into US$ has been made at the following exchange rates for the period ended March 31, 2020 and 2019:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, 2020</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, 2019</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: -5.65pt; padding-left: 5.65pt">Period-end RMB:US$ exchange rate</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">7.1363</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">6.7112</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 1.4pt">Period average RMB:US$ exchange rate</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6.8609</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6.7447</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 1.4pt">Period-end HK$:US$ exchange rate</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7.7872</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7.8498</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; padding-left: 1.4pt">Period average HK$:US$ exchange rate</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">7.8000</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">7.8000</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Loss Per Share of Common Stock</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic net loss per share is computed by dividing net loss available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. The Company did not have any common stock equivalents or potentially dilutive common stock outstanding during the three months ended March 31, 2020 and 2019. In a period in which the Company has a net loss, all potentially dilutive securities are excluded from the computation of diluted shares outstanding as they would have had an anti-dilutive impact.&#xa0;</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents a reconciliation of basic and diluted net loss per share:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">Three months ended<br/> March 31,</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-bottom: 1.5pt">Net Loss for basic and diluted attributable to common shareholders</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">(274,058</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">(24,720,429</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">From continuing operations</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(274,058</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(2,118,784</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">From discontinued operations</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(22,601,645</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted average common stock outstanding &#x2013; basic and diluted</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">199,418,592</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,118,610</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Net loss per share of common stock</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">From continuing operations &#x2013; basic and diluted</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.00</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.28</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">From discontinued operations &#x2013; basic and diluted</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">&#xa0;</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2.78</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt">Net loss per common share &#x2013; basic and diluted</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(0.00</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(3.06</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Comprehensive Loss</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Comprehensive loss is comprised of net loss and all changes to the statements of stockholders&#x2019; equity, except those due to investments by stockholders, changes in paid-in capital and distributions to stockholders. For the Company, comprehensive loss income for the three months ended March 31, 2020 and 2019 included net loss, unrealized loss from fair value change of marketable securities and unrealized gain from foreign currency translation adjustments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Concentrations of Credit Risk</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company&#x2019;s operations are carried out in Hong Kong. Accordingly, the Company&#x2019;s business, financial condition and results of operations may be influenced by the political, economic and legal environment in Hong Kong. The Company&#x2019;s operations in Hong Kong are subject to specific considerations and significant risks not typically associated with companies in North America. The Company&#x2019;s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and trade accounts receivable. Substantially all of the Company&#x2019;s cash is maintained with state-owned banks within the Hong Kong, and none of these deposits are covered by insurance. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts. A significant portion of the Company&#x2019;s sales are credit sales which are primarily to customers whose ability to pay is dependent upon the industry economics prevailing in these areas; however, concentrations of credit risk with respect to trade accounts receivables is limited due to generally short payment terms. The Company also performs ongoing credit evaluations of its customers to help further reduce credit risk.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Accounts Receivable</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable are presented net of an allowance for doubtful accounts. The Company maintains allowances for doubtful accounts for estimated losses. The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances, the Company considers many factors, including the age of the balance, a customer&#x2019;s historical payment history, its current credit-worthiness and current economic trends. Accounts are written off after exhaustive efforts at collection. At March 31, 2020 and December 31, 2019, the Company has established, based on a review of its outstanding balances, an allowance for doubtful accounts in the amounts of $0 and $48,952, respectively.</font></p> 0 48952 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Property and Equipment</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment are carried at cost and are depreciated on a straight-line basis over the estimated useful lives of the assets. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in the statements of operations in the year of disposition. The Company examines the possibility of decreases in the value of fixed assets when events or changes in circumstances reflect the fact that their recorded value may not be recoverable. Impairment loss has been recorded in current period.</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 85%; padding-right: 0.8pt; text-align: justify">&#xa0;</td> <td style="width: 1%; padding-right: 0.8pt">&#xa0;</td> <td style="width: 14%; border-bottom: black 1.5pt solid; padding-right: 0.8pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Useful life</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-right: 0.8pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Office equipment and furniture</font></td> <td style="padding-right: 0.8pt">&#xa0;</td> <td style="padding-right: 0.8pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5 years</font></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-right: 0.8pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vehicles</font></td> <td style="padding-right: 0.8pt">&#xa0;</td> <td style="padding-right: 0.8pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5 years</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-right: 0.8pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vessels</font></td> <td style="padding-right: 0.8pt">&#xa0;</td> <td style="padding-right: 0.8pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5 years</font></td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation expense from continuing operations for the three months ended March 31, 2020 and 2019 amounted to $33,842 and $6,245, respectively.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Depreciation expense from discontinued operations for the three months ended March 31, 2020 and 2019 amounted to $0 and $689,286, respectively.</font></p> 0 689286 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Impairment of long-lived assets and intangible assets</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset&#x2019;s estimated fair value and its book value. At March 31, 2020 and December 31, 2019, the Company conducted an impairment assessment on property, equipment and intangible asset based on the guidelines established in ASC Topic 360 to determine the estimated fair market value of property, equipment and intangible asset as of March 31, 2020 and December 31, 2019. Such analysis considered future use of such equipment, consultation with equipment resellers, subsequent sales of price of equipment held for sale, and other industry factors. Upon completion of the annual impairment analysis, the Company recorded impairment charges on long-lived assets of $0 and $13,586,059, for the three months ended March 31, 2020 and 2019, in relation to its discontinued operations.</font></p> 0 13586059 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Revenue recognition</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In May 2014, FASB issued an update Accounting Standards Update (&#x201c;ASU&#x201d;) (&#x201c;ASU 2014-09&#x201d;) establishing Accounting Standards Codification (&#x201c;ASC&#x201d;) Topic 606, <i>Revenue from Contracts with Customers </i>(&#x201c;ASC 606&#x201d;). ASU 2014-09, as amended by subsequent ASUs on the topic, establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance. This standard, which is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2017, requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also requires certain additional disclosures. The Company adopted this standard in 2018 using the modified retrospective approach, which requires applying the new standard to all existing contracts not yet completed as of the effective date and recording a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. Based on an evaluation of the impact ASU 2014-09 will have on the Company&#x2019;s sources of revenue, the Company has concluded that ASU 2014-09 did not have a material impact on the process for, timing of, and presentation and disclosure of revenue recognition from customers.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Continuing operations</i></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company derives its revenues from the sale of licence and advertising right and in a term of certain periods. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements:</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">identify the contract with a customer;</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">identify the performance obligations in the contract;</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">determine the transaction price;</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">allocate the transaction price to performance obligations in the contract; and</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">recognize revenue as the performance obligation is satisfied.</font></td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Discontinued operations</i></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes revenues from the sale of equipment upon shipment and transfer of title. The other elements may include installation and, generally, a one-year warranty. Equipment installation revenue is valued based on estimated service person hours to complete installation and is recognized when the labor has been completed and the equipment has been accepted by the customer, which is generally within a couple days of the delivery of the equipment. Warranty revenue is valued based on estimated service person hours to complete a service and generally is recognized over the contract period.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All other product sales with customer specific acceptance provisions are recognized upon customer acceptance and the delivery of the parts or service. Revenues related to spare part sales are recognized upon shipment or delivery based on the trade terms.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Stock-Based Compensation</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock-based compensation is accounted for based on the requirements of the Share-Based Payment topic of ASC Topic 718, which requires recognition in the financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the vesting period or immediately if fully vested and non-forfeitable. The Financial Accounting Standards Board (&#x201c;FASB&#x201d;) also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Foreign Currency Translation</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The reporting currency of the Company is the U.S. dollar. The functional currency of the parent company is the U.S. dollar and the functional currency of the Company&#x2019;s operating subsidiaries is the Chinese Renminbi (&#x201c;RMB&#x201d;) or Hong Kong dollars (HKD). For the subsidiaries and affiliates, whose functional currencies are the RMB or HKD, results of operations and cash flows are translated at average exchange rates during the period, assets and liabilities are translated at the unified exchange rate at the end of the period, and equity is translated at historical exchange rates. As a result, amounts relating to assets and liabilities reported on the statements of cash flows may not necessarily agree with the changes in the corresponding balances on the balance sheets. Translation adjustments resulting from the process of translating the local currency financial statements into U.S. dollars are included in determining comprehensive loss. The cumulative translation adjustment and effect of exchange rate changes on cash for the three months ended March 31, 2020 and 2019 was $19,919 and $169,449, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company did not enter into any material transaction in foreign currencies. Transaction gains or losses have not had, and are not expected to have, a material effect on the results of operations of the Company.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Translation of amounts from RMB and HK$ into US$ has been made at the following exchange rates for the period ended March 31, 2020 and 2019:</p> 19919 169449 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Loss Per Share of Common Stock</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic net loss per share is computed by dividing net loss available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. The Company did not have any common stock equivalents or potentially dilutive common stock outstanding during the three months ended March 31, 2020 and 2019. In a period in which the Company has a net loss, all potentially dilutive securities are excluded from the computation of diluted shares outstanding as they would have had an anti-dilutive impact.&#xa0;</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents a reconciliation of basic and diluted net loss per share:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Comprehensive Loss</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Comprehensive loss is comprised of net loss and all changes to the statements of stockholders&#x2019; equity, except those due to investments by stockholders, changes in paid-in capital and distributions to stockholders.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Reclassification</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain reclassifications have been made in prior period&#x2019;s consolidated financial statements to conform to the current year&#x2019;s financial presentation. The reclassifications have no effect on previously reported net loss.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Recent Accounting Pronouncements</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February 2016, the FASB issued ASU 2016-02, &#x201c;Leases (Topic 842)&#x201d;. Under ASU 2016-02, lessees will be required to recognize all leases (with the exception of short-term leases) at the commencement date including a lease liability, which is a lessee&#x2019;s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use (ROU) asset, which is an asset that represents the lessee&#x2019;s right to use, or control the use of, a specified asset for the lease term. Leases with a term of twelve months or less will be accounted for similar to existing guidance for operating leases. In December 2017, January 2018, July 2018, December 2018 and March 2020, the FASB issued ASU 2017-13, ASU 2018-01, ASU 2018-10 &amp; 11, ASU 2018-20 and ASU 2019-01, respectively, which contain modifications and improvements to ASU 2016-02. The amendments provide entities with an additional (and optional) transition method to adopt the new leases standard. Under the Optional Transition Method, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. On January 1, 2019, the Company adopted ASC Topic 842 using the modified retrospective approach and elected to utilize the Optional Transition Method. In addition, the Company elected the land easement transition practical expedient and did not reassess whether an existing or expired land easement is a lease or contains a lease if it has not historically been accounted for as a lease. The adoption did not impact the Company&#x2019;s previously reported consolidated financial statements nor did it result in a cumulative effect adjustment to retained earnings as of January 1, 2019.&#xa0;</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2018, the FASB issued ASU 2018-07, Compensation&#x2014;Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment. ASU 2018-07 aligns the accounting for share based payments granted to non-employees with that of share based payments granted to employees. The Company early adopted ASU No. 2018-07 in the fourth quarter of 2018 and there was no cumulative effect of adoption. The adoption of this ASU did not have a material impact on our financial position, results of operations, cash flows, or presentation thereof.</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">March&#xa0;31,</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">Quoted <br/> Prices In <br/> Active Markets</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">Significant <br/> Other <br/> Observable <br/> Inputs</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">Significant <br/> Other <br/> Unobservable <br/> Inputs</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Description</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 1)</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 2)</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 3)</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>Assets:</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding-bottom: 1.5pt">Marketable securities, available-for-sale</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">2,531,283</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">2,531,283</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">&#x2013;</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">&#x2013;</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">December&#xa0;31,</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">Quoted <br/> Prices In <br/> Active Markets</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">Significant <br/> Other <br/> Observable <br/> Inputs</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="3" style="text-align: center">Significant <br/> Other <br/> Unobservable <br/> Inputs</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="border-bottom: Black 1.5pt solid">Description</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 1)</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 2)</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 3)</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>Assets:</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="3" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding-bottom: 1.5pt">Marketable securities, available-for-sale</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">4,532,296</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">4,532,296</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#x2013;</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: right">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#x2013;</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> </table> 2531283 2531283 4532296 4532296 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 85%; padding-right: 0.8pt; text-align: justify">&#xa0;</td> <td style="width: 1%; padding-right: 0.8pt">&#xa0;</td> <td style="width: 14%; border-bottom: black 1.5pt solid; padding-right: 0.8pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Useful life</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-right: 0.8pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Office equipment and furniture</font></td> <td style="padding-right: 0.8pt">&#xa0;</td> <td style="padding-right: 0.8pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5 years</font></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-right: 0.8pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vehicles</font></td> <td style="padding-right: 0.8pt">&#xa0;</td> <td style="padding-right: 0.8pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5 years</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-right: 0.8pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vessels</font></td> <td style="padding-right: 0.8pt">&#xa0;</td> <td style="padding-right: 0.8pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5 years</font></td></tr> </table> P5Y P5Y P5Y <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, 2020</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, 2019</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: -5.65pt; padding-left: 5.65pt">Period-end RMB:US$ exchange rate</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">7.1363</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">6.7112</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 1.4pt">Period average RMB:US$ exchange rate</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6.8609</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6.7447</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 1.4pt">Period-end HK$:US$ exchange rate</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7.7872</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7.8498</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; padding-left: 1.4pt">Period average HK$:US$ exchange rate</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">7.8000</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">7.8000</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 7.1363 6.7112 6.8609 6.7447 7.7872 7.8498 7.8000 7.8000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">Three months ended<br/> March 31,</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-bottom: 1.5pt">Net Loss for basic and diluted attributable to common shareholders</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">(274,058</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 1.5pt">&#xa0;</td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">(24,720,429</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">From continuing operations</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(274,058</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(2,118,784</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">From discontinued operations</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(22,601,645</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted average common stock outstanding &#x2013; basic and diluted</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">199,418,592</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,118,610</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Net loss per share of common stock</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">From continuing operations &#x2013; basic and diluted</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.00</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.28</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">From discontinued operations &#x2013; basic and diluted</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">&#xa0;</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2.78</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt">Net loss per common share &#x2013; basic and diluted</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(0.00</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(3.06</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table> -22601645 0.00 -0.28 -2.78 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 2 &#x2013; <font style="text-decoration:underline">DISCONTINUED OPERATIONS</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 30, 2019, the Company&#x2019;s Board of Directors approved to enter into a VIE Termination Agreement relating to the termination of the Consulting Services Agreement, Operating Agreement, Equity Pledge Agreement, Option Agreement, Voting Rights Proxy Agreement dated October 12, 2007 with Huayang Companies. The operations in China was closed down and fully written-off at December 31, 2019. The assets and liabilities of Huayang Companies have been accounted for as discontinued operations in the Company&#x2019;s combined and consolidated balance sheets for all periods presented. The operating results related to these lines of business have been included in discontinued operations in the Company&#x2019;s combined and consolidated statements of operations for all periods presented.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 24, 2020, the Company sold its equity interest of 80% in AnyWorkspace Limited. The assets and liabilities of AnyWorkspace Companies have been accounted for as discontinued operations in the Company&#x2019;s combined and consolidated balance sheets for all periods presented. The operating results related to these lines of business have been included in discontinued operations in the Company&#x2019;s combined and consolidated statements of operations for all periods presented.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The summarized operating result of discontinued operations included in the Company&#x2019;s unaudited condensed consolidated statements of operations&#xa0;is as follows:&#xa0;</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">Three months ended<br/> March 31,</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Revenues</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,887,265</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Cost of revenues</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(5,699,420</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Gross loss</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,812,155</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Operating income:</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Other operating expense</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(18,746,856</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Total operating expense</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(18,746,856</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Other expense, net</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(42,634</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt">Loss from discontinued operations, net of income taxes</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(22,601,645</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table><br/> 0.80 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">Three months ended<br/> March 31,</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Revenues</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,887,265</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Cost of revenues</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(5,699,420</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Gross loss</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,812,155</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Operating income:</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Other operating expense</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(18,746,856</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Total operating expense</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(18,746,856</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Other expense, net</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(42,634</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt">Loss from discontinued operations, net of income taxes</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(22,601,645</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table> 1887265 5699420 -3812155 18746856 -18746856 42634 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 3 &#x2013;&#xa0;<font style="text-decoration:underline">INTANGIBLE ASSETS</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2020 and December 31, 2019, intangible assets&#xa0;consisted of the following:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="text-align: center; border-bottom: Black 1.5pt solid">Useful life</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, 2020</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">December&#xa0;31, 2019</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">(Unaudited)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">(Audited)</td><td>&#xa0;</td></tr> <tr style="font-size: 7pt; vertical-align: bottom"> <td style="font-size: 7pt">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td> <td style="font-size: 7pt; text-align: center">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td> <td colspan="2" style="font-size: 7pt; text-align: right">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td> <td colspan="2" style="font-size: 7pt; text-align: right">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Other intangible assets</td><td style="width: 1%">&#xa0;</td> <td style="width: 11%; text-align: center">3 &#x2013; 5 years</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">843,817</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">843,817</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Redemption code</td><td>&#xa0;</td> <td style="text-align: center">5 years</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">750,000</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">750,000</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Goodwill</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="text-align: center; padding-bottom: 1.5pt">infinite</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">27,353</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">27,353</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,621,170</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,621,170</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated amortization</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="text-align: center; padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(563,225</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(512,763</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="text-align: center; padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,057,945</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,108,407</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization of intangible assets attributable to future periods is as follows:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left; border-bottom: Black 1.5pt solid">Year ending March 31:</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Amount</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">2021</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">419,317</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">2022</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">140,353</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2023</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">167,932</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">2024</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">152,988</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2025</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">150,000</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,030,590</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; ">Amortization of intangible assets from continuing operations was $50,748 and $67,723 for the three months ended March 31, 2020 and 2019, respectively. Amortization of intangible assets from discontinued operations was $0 and $20,882 for the three months ended March 31, 2020 and 2019, respectively.</p><br/> 0 20882 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="text-align: center; border-bottom: Black 1.5pt solid">Useful life</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, 2020</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">December&#xa0;31, 2019</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">(Unaudited)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">(Audited)</td><td>&#xa0;</td></tr> <tr style="font-size: 7pt; vertical-align: bottom"> <td style="font-size: 7pt">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td> <td style="font-size: 7pt; text-align: center">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td> <td colspan="2" style="font-size: 7pt; text-align: right">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td> <td colspan="2" style="font-size: 7pt; text-align: right">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Other intangible assets</td><td style="width: 1%">&#xa0;</td> <td style="width: 11%; text-align: center">3 &#x2013; 5 years</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">843,817</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">843,817</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Redemption code</td><td>&#xa0;</td> <td style="text-align: center">5 years</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">750,000</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">750,000</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Goodwill</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="text-align: center; padding-bottom: 1.5pt">infinite</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">27,353</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">27,353</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,621,170</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,621,170</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated amortization</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="text-align: center; padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(563,225</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(512,763</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="text-align: center; padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,057,945</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,108,407</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> P3Y P5Y 843817 843817 P5Y 750000 750000 infinite 27353 27353 1621170 1621170 -563225 -512763 1057945 1108407 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left; border-bottom: Black 1.5pt solid">Year ending March 31:</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Amount</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">2021</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">419,317</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">2022</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">140,353</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2023</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">167,932</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">2024</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">152,988</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2025</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">150,000</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,030,590</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 419317 140353 167932 152988 150000 1030590 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; ">NOTE 4 &#x2013; <font style="text-decoration:underline">BANK LOANS</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bank loans of $5,069,557 represented amount due to one financial institution in Hong Kong that are repayable in a term of 30 years, with 360 monthly installments and interest is charged at the annual rate of 2.5% below its best lending rate.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revolving credit line of $4,558,749 is expected to be repaid in the next twelve months and interest is charged at the rate of 3.2625% per annum over the Hong Kong Dollar Best Lending Rate.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At March 31, 2020 , the banking facilities of the Company were secured by:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 3%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 3%; padding-right: 0.8pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 94%; padding-right: 0.8pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Personal guarantee by the directors of the Company&#x2019;s subsidiary;</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.8pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.8pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Legal charge and rental assignment over the leasehold land and buildings owned by its related companies which are controlled by the major shareholder of the Company, Mr. Chan Tin Chi; and</font></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#xa0;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.8pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.8pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hong Kong Mortgage Corporation Limited.</font></td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At March 31, 2020 and December 31, 2019, bank loans consisted of the following:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March&#xa0;31,<br/> 2020</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">December&#xa0;31,<br/> 2019</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">(Unaudited)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">(Audited)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">Mortgage loan</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,069,557</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,098,796</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Line of revolving loan</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,558,749</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,558,749</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Short-term bank loans</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,195,297</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="font-size: 7pt; vertical-align: bottom; "> <td style="font-size: 7pt; text-align: justify">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td> <td style="font-size: 7pt; text-align: left">&#xa0;</td><td style="font-size: 7pt; text-align: right">&#xa0;</td><td style="font-size: 7pt; text-align: left">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td> <td style="font-size: 7pt; text-align: left">&#xa0;</td><td style="font-size: 7pt; text-align: right">&#xa0;</td><td style="font-size: 7pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total bank loans</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,628,306</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">10,852,842</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt">Less: Total bank loans &#x2013; discontinued operations</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,195,297</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 4pt">Total bank loans &#x2013; continuing operations</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">9,628,306</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">9,657,545</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="font-size: 7pt; vertical-align: bottom; "> <td style="font-size: 7pt; text-align: justify">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td> <td style="font-size: 7pt; text-align: left">&#xa0;</td><td style="font-size: 7pt; text-align: right">&#xa0;</td><td style="font-size: 7pt; text-align: left">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td> <td style="font-size: 7pt; text-align: left">&#xa0;</td><td style="font-size: 7pt; text-align: right">&#xa0;</td><td style="font-size: 7pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Reclassifying as:</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Current portion</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">4,683,873</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">4,676,184</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Long-term portion (more than 12 months)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,944,433</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,981,361</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="font-size: 7pt; vertical-align: bottom; "> <td style="font-size: 7pt; text-align: justify">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td> <td style="font-size: 7pt; text-align: left">&#xa0;</td><td style="font-size: 7pt; text-align: right">&#xa0;</td><td style="font-size: 7pt; text-align: left">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td> <td style="font-size: 7pt; text-align: left">&#xa0;</td><td style="font-size: 7pt; text-align: right">&#xa0;</td><td style="font-size: 7pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 4pt">Total bank loans</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">9,628,306</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">9,657,545</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest related to the bank loans from continuing operations was $95,831 and $90,815 for the three months ended March 31, 2020 and 2019, respectively. Interest related to the bank loans from discontinued operations was $0 and $41,998 for the three months ended March 31, 2020 and 2019, respectively. All interests are included in interest expense on the accompanying condensed consolidated statements of operations.&#xa0;</font></p><br/> 5069557 P30Y 0.025 4558749 0.032625 0 41998 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March&#xa0;31,<br/> 2020</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">December&#xa0;31,<br/> 2019</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">(Unaudited)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">(Audited)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">Mortgage loan</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,069,557</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,098,796</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Line of revolving loan</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,558,749</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,558,749</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Short-term bank loans</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,195,297</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="font-size: 7pt; vertical-align: bottom; "> <td style="font-size: 7pt; text-align: justify">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td> <td style="font-size: 7pt; text-align: left">&#xa0;</td><td style="font-size: 7pt; text-align: right">&#xa0;</td><td style="font-size: 7pt; text-align: left">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td> <td style="font-size: 7pt; text-align: left">&#xa0;</td><td style="font-size: 7pt; text-align: right">&#xa0;</td><td style="font-size: 7pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total bank loans</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,628,306</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">10,852,842</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt">Less: Total bank loans &#x2013; discontinued operations</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,195,297</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 4pt">Total bank loans &#x2013; continuing operations</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">9,628,306</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">9,657,545</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="font-size: 7pt; vertical-align: bottom; "> <td style="font-size: 7pt; text-align: justify">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td> <td style="font-size: 7pt; text-align: left">&#xa0;</td><td style="font-size: 7pt; text-align: right">&#xa0;</td><td style="font-size: 7pt; text-align: left">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td> <td style="font-size: 7pt; text-align: left">&#xa0;</td><td style="font-size: 7pt; text-align: right">&#xa0;</td><td style="font-size: 7pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Reclassifying as:</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Current portion</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">4,683,873</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">4,676,184</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Long-term portion (more than 12 months)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,944,433</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,981,361</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="font-size: 7pt; vertical-align: bottom; "> <td style="font-size: 7pt; text-align: justify">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td> <td style="font-size: 7pt; text-align: left">&#xa0;</td><td style="font-size: 7pt; text-align: right">&#xa0;</td><td style="font-size: 7pt; text-align: left">&#xa0;</td><td style="font-size: 7pt">&#xa0;</td> <td style="font-size: 7pt; text-align: left">&#xa0;</td><td style="font-size: 7pt; text-align: right">&#xa0;</td><td style="font-size: 7pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 4pt">Total bank loans</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">9,628,306</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">9,657,545</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 5069557 5098796 4558749 4558749 1195297 9628306 10852842 -1195297 9628306 9657545 4683873 4676184 4944433 4981361 9628306 9657545 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 5 &#x2013;&#xa0;<font style="text-decoration:underline">CONVERTIBLE NOTE PAYABLE</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Securities purchase agreement and related convertible note and warrants</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 2, 2018, pursuant to a securities purchase agreement, the Company closed a private placement of securities with Iliad Research and Trading, L.P. (the &#x201c;Investor&#x201d;) pursuant to which the Investor purchased a Convertible Promissory Note (the &#x201c;Iliad Note&#x201d;) in the original principal amount of $900,000, convertible into shares of common stock of the Company (the &#x201c;Common Stock&#x201d;), upon the terms and subject to the limitations and conditions set forth in the Iliad Note, and a two year Warrant to purchase 134,328 shares of Common Stock at an exercise price of $7.18 per share (the &#x201c;Warrant&#x201d;). In connection with the Iliad Note, the Company paid an original issue discount of $150,000 and paid issuance costs of $45,018 which will be reflected as a debt discount and amortized over the Iliad Note term. The Iliad Note bears interest at 10% per annum, is unsecured, and is due on the date that is fifteen months from May 2, 2018. The warrants shall expire on the last calendar day of the month in which the second anniversary of the Issue Date occurs. On November 8, 2018, the Company converted an aggregate of $27,811 and $47,189 outstanding principal and interest of the Iliad Note, respectively, into a total of 36,621 shares of its common stock. On January 11, 2019, the Company converted an aggregate of $34,103 and $15,897 outstanding principal and interest of the Iliad Note, respectively, into 266,667 shares of its common stock.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Investor has the right at any time after May 2, 2018 until the outstanding balance has been paid in full to convert all or any part of the outstanding balance into shares of common stock of the Company at conversion price of $6.70 per share (the &#x201c;Lender Conversion Price&#x201d;). The Lender Conversion Price is subject to certain adjustments set forth in the Iliad Note. The conversion price for each Redemption Conversion (the &#x201c;Redemption Conversion Price&#x201d;) shall be the lesser of (a) the Lender Conversion Price, and (b) the Market Price; provided, however, in no event shall the Redemption Conversion Price be less than $2.00 per share (&#x201c;Conversion Price Floor&#x201d;) unless the Company waive the Conversion Price Floor.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This debt instrument includes embedded components including a put option. The Company evaluated these embedded components to determine whether they are embedded derivatives within the scope of ASC 815 that should be separately carried at fair value. ASC 815-15-25-1 provides guidance on when an embedded component should be separated from its host instrument and accounted for separately as a derivative. Based on this analysis, the Company believes that the put option is clearly and closely related to the debt instrument and does not meet the definition of a derivative. Accordingly, in connection with this Iliad Note, the Company recorded a debt discount for (a) the original issue discount of $150,000 (b) the relative fair value of the warrants issued of $152,490 and (c) legal fees and other fees paid in connection with the Iliad Note aggregating $45,018. There is no beneficial conversion feature on this Iliad Note. The debt discount shall be accreted on a straight line basis over the term of this Iliad Note.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2020 and December 31, 2019, convertible debt consisted of the following:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March&#xa0;31, <br/> 2020</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">December&#xa0;31, <br/> 2019</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">(Unaudited)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">(Audited)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Principal</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">838,571</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">838,571</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Unamortized discount</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Convertible debt, net</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">838,571</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">838,571</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; ">There was no amortization of discount for the three months ended March 31, 2020 and 2019. As of March 31, 2020 and December 31, 2019, accrued interest amounted to $85,803 and $63,303, respectively.</p><br/> 900000 P2Y 134328 7.18 150000 45018 The Iliad Note bears interest at 10% per annum, is unsecured, and is due on the date that is fifteen months from May 2, 2018. 27811 47189 36621 34103 15897 266667 6.70 The conversion price for each Redemption Conversion (the &#x201c;Redemption Conversion Price&#x201d;) shall be the lesser of (a) the Lender Conversion Price, and (b) the Market Price; provided, however, in no event shall the Redemption Conversion Price be less than $2.00 per share (&#x201c;Conversion Price Floor&#x201d;) unless the Company waive the Conversion Price Floor. 150000 152490 45018 85803 63303 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March&#xa0;31, <br/> 2020</td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">December&#xa0;31, <br/> 2019</td><td style="padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">(Unaudited)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">(Audited)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Principal</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">838,571</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">838,571</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Unamortized discount</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Convertible debt, net</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">838,571</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">838,571</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 838571 838571 838571 838571 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 6 &#x2013;&#xa0;<font style="text-decoration:underline">RELATED PARTY TRANSACTIONS</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Due to related parties</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From time to time, during 2019 and 2018, the Company receive advances from Chan Tin Chi Family Company Limited (formerly known as YSK 1860 Co., Limited), who is the major shareholder of the Company for working capital purposes. These advances are non-interest bearing and are payable on demand. During the three months ended March 31, 2020 and 2019, the Company received advances from Chan Tin Chi Family Company Limited for working capital totaled $310,493 and $820,061, respectively, and repaid to Chan Tin Chi Family Company Limited a total of $0 and $31,604, respectively. At March 31, 2020 and December 31, 2019, amounts due to Chan Tin Chi Family Company Limited amounted to $2,356,455 and $2,045,962, respectively.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At March 31, 2020 and December 31, 2019, amounts due to related companies amounted to $377,389 and $319,542, respectively.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amounts are unsecured, interest-free and have no fixed terms of repayment.</font></p><br/> From time to time, during 2019 and 2018, the Company receive advances from Chan Tin Chi Family Company Limited (formerly known as YSK 1860 Co., Limited), who is the major shareholder of the Company for working capital purposes. These advances are non-interest bearing and are payable on demand. During the three months ended March 31, 2020 and 2019, the Company received advances from Chan Tin Chi Family Company Limited for working capital totaled $310,493 and $820,061, respectively, and repaid to Chan Tin Chi Family Company Limited a total of $0 and $31,604, respectively. At March 31, 2020 and December 31, 2019, amounts due to Chan Tin Chi Family Company Limited amounted to $2,356,455 and $2,045,962, respectively. 377389 319542 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; ">NOTE 7 &#x2013;&#xa0;<font style="text-decoration:underline">STOCKHOLDERS&#x2019; DEFICIT</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In March 2020, an amendment to The Company&#x2019;s Articles of Incorporation to increase the number of shares of common stock which the Company is authorized to issue from 250,000,000 to 7,450,000,000 was approved. The Company issued the remaining 7,018,360,787 shares of common stock to Peak Equity shareholders subsequently in April 2020.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2020, the Company&#x2019;s authorized share is 7,450,000,000 common shares with a par value of $0.001 per share, consisting of 50,000,000 shares of preferred stock and 7,400,000,000 shares of common stock.</p><br/><p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">As of March 31, 2020 and December 31, 2019, the Company has 199,418,592 shares and 199,418,592 shares of common stock issued and outstanding, respectively.</p><br/> 250000000 7450000000 7018360787 7450000000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 8 &#x2013; <font style="text-decoration:underline">CONCENTRATIONS</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Customers</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the three months ended March 31, 2020 and 2019, there are no customers representing more than 10% of the Company&#x2019;s revenue.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="text-decoration:underline">Vendors</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the three months ended March 31, 2020 and 2019, there are no vendors representing more than 10% of the Company&#x2019;s purchase.</p><br/> 0.10 0.10 0.10 0.10 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 9 &#x2013; <font style="text-decoration:underline">COMMITMENT AND CONTINGENCIES</font></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><font style="text-decoration:underline">Litigation:</font>&#xa0;</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 25, 2019, ECPower (HK) Company Limited (&#x201c;EC Power&#x201d;), a subsidiary of SEII, filed a claim against The Dairy Farm Limited (&#x201c;Dairy Farm&#x201d;) in respect of the cooperation agreement between the two parties for the battery rental business at 7-Eleven outlets in Hong Kong during the period from September 2017 to February 2018.&#xa0;The claim is for a total compensation of HK$1,395,000 (approximately $178,846) which comprises of (i) HK$45,000 (approximately $5,769) as compensation for interest and administration cost incurred as a result of Dairy Farm&#x2019;s delay in payment of EC Power&#x2019;s share of the rental income, and (ii) HK$1,350,000 (approximately $173,077) as compensation for Dairy Farm&#x2019;s early termination of the cooperation agreement without any valid proof of fault on the part of EC Power.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="text-decoration:underline">Legal proceedings:</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 10, 2020, the Company&#x2019;s subsidiary, Ecrent Worldwide Company Limited (&#x201c;Ecrent Worldwide&#x201d;), a wholly owned subsidiary of Universal Sharing Limited (formerly known as Ecrent Holdings Limited), received a writ of summon (the &#x201c;Summon&#x201d;) issued by Messrs Wilkinson &amp; Grist on behalf of Mr. Michael Andrew BERMAN and Mr. Eric Hans ISRAEL, who were the former Chief Executive Officer and Chief Financial Officer of Ecrent (America) Company Limited (&#x201c;Ecrent America&#x201d;) and Ecrent (USA) Company Limited (&#x201c;Ecrent USA&#x201d;). Both Ecrent America and Ecrent USA were the former subsidiaries of Universal Sharing Limited. On the same day, the Summon also delivered to Mr. Chan Tin Chi, the major shareholder of SEII and his spouse, Ms. Deborah Yuen Wai Ming. Pursuant to the US Judgement dated on September 25, 2019 issued by the Supreme Court of the State of New York County of Nassau, the Summon demands Ecrent Worldwide, Mr. Chan Tin Chi, and Ms. Deborah Yuen Wai Ming to fully settle an amount of approximately $241,706 and $103,841 to Mr. Berman and Mr. Israel, respectively representing the unpaid salary, benefits, expenses and incentive bonus. SEII intends to dispute these proceedings that the US Judgement is not enforceable under the Hong Kong jurisdiction.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; ">In accordance with applicable accounting guidance, the Company records accruals for certain of its outstanding legal proceedings, investigations or claims when it is probable that a liability will be incurred, and the amount of loss can be reasonably estimated. The Company evaluates, on a quarterly basis, developments in legal proceedings, investigations or claims that could affect the amount of any accrual, as well as any developments that would make a loss contingency both probable and reasonably estimable. The Company discloses the amount of the accrual if the financial statements would be otherwise misleading.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; ">When a loss contingency is not both probable and estimable, the Company does not establish an accrued liability. However, if the loss (or an additional loss in excess of the accrual) is at least a reasonable possibility and material, then the Company discloses an estimate of the possible loss or range of loss, if such estimate can be made or discloses that an estimate cannot be made.</p><br/> The claim is for a total compensation of HK$1,395,000 (approximately $178,846) which comprises of (i) HK$45,000 (approximately $5,769) as compensation for interest and administration cost incurred as a result of Dairy Farm&#x2019;s delay in payment of EC Power&#x2019;s share of the rental income, and (ii) HK$1,350,000 (approximately $173,077) as compensation for Dairy Farm&#x2019;s early termination of the cooperation agreement without any valid proof of fault on the part of EC Power. Mr. Chan Tin Chi, and Ms. Deborah Yuen Wai Ming to fully settle an amount of approximately $241,706 and $103,841 to Mr. Berman and Mr. Israel, respectively representing the unpaid salary, benefits, expenses and incentive bonus. SEII intends to dispute these proceedings that the US Judgement is not enforceable under the Hong Kong jurisdiction. <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTE 10 &#x2013; <font style="text-decoration:underline">SUBSEQUENT EVENTS</font>&#xa0;</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is currently in default under Iliad Note with the outstanding balance of $838,571 in principal and $63,303 accrued interest at December 31, 2019. In April 2020, an amount of $100,000 was redeemed and converted 502,955 shares of the Company&#x2019;s common stock. The remaining outstanding balance of Iliad Note was $1,269,464 at April 30, 2020. At the date of filing, both parties have not reached into the mutual agreement.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 5, 2020, the Company and Oasis Capital, LLC (&#x201c;Oasis&#x201d;) entered into a Equity Purchase Agreement, Oasis shall purchase from the Company up to Four Million Dollars ($4,000,000) of the Company&#x2019;s Common Stock, at 85% of Market Price. On April 15, 2020, 400,000 shares of Common Stock has issued by the Company to Oasis as Commitment Shares.&#xa0;</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 7, 2020, the Company and Power Up Lending Group Ltd., (&#x201c;Power Up&#x201d;) entered into a Securities Purchase Agreement, whereby the Company issued a note to Power Up (the &#x201c;Power Up Note&#x201d;) in the principal amount of $83,000 with additional tranches of up to $1,000,000 in the aggregate over the next twelve (12) months, subject to the discretion of both parties. The Power Up Note is a convertible into shares of the common stock of the Company at a price equal to 65% of the average of the two (2) lowest trading prices for the Company&#x2019;s common stock during the twenty (20) trading day period ending on the latest complete trading day prior to the conversion date.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 8, 2020, the Company and shareholder of OOB HK Media HK Limited (&#x201c;OOB HK&#x201d;) Entered into a Share Exchange Agreement, whereby the Company shall issue 239,387,189 shares of series A convertible preferred stock at a price of $0.33 per share, in exchange of 100% ownership of OOB HK, which owns 100% of Tone Rich (Shanghai) Limited that holds 69.6% of OOB Media (Sichuan) Company Limited, an advertising media technology and agency company.&#xa0;</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 14, 2020, the Company and Black Ice Advisors, LLC (&#x201c;Black Ice&#x201d;) entered into a Securities Purchase Agreement, whereby the Company issued a note to Black Ice (the &#x201c;Black Ice Note&#x201d;) in the principal amount of $110,000 in exchange for a total investment of $100,000. The Black Ice Note is a convertible into shares of the common stock of the Company at a price equal to 60% of the lowest trading price of the Company&#x2019;s common stock for the fifteen (15) prior trading days including the day upon which a Notice of Conversion is received by the Company.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 21, 2020, the Company and StockVest (&#x201c;StockVest&#x201d;) entered into a Consulting, Public Relationship and Marketing Letter Agreement, StockVest shall provide SEII with coverage and launch a market awareness campaign and perform various public and investor relation services including but not limited to, news dissemination, creation and distribution of investor information, double opt-in email campaigns, internet profiles and social media feeds. On April 29, 2020, 400,000 shares of common stock has issued by the Company to StockVest as service fee.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In May 2020, a 1-for-50 reverse stock split of the issued and outstanding shares of our common stock was approved.</font></p><br/> 100000 502955 1269464 the Company and Oasis Capital, LLC (&#x201c;Oasis&#x201d;) entered into a Equity Purchase Agreement, Oasis shall purchase from the Company up to Four Million Dollars ($4,000,000) of the Company&#x2019;s Common Stock, at 85% of Market Price. On April 15, 2020, 400,000 shares of Common Stock has issued by the Company to Oasis as Commitment Shares. the Company and Power Up Lending Group Ltd., (&#x201c;Power Up&#x201d;) entered into a Securities Purchase Agreement, whereby the Company issued a note to Power Up (the &#x201c;Power Up Note&#x201d;) in the principal amount of $83,000 with additional tranches of up to $1,000,000 in the aggregate over the next twelve (12) months, subject to the discretion of both parties. The Power Up Note is a convertible into shares of the common stock of the Company at a price equal to 65% of the average of the two (2) lowest trading prices for the Company&#x2019;s common stock during the twenty (20) trading day period ending on the latest complete trading day prior to the conversion date. On April 8, 2020, the Company and shareholder of OOB HK Media HK Limited (&#x201c;OOB HK&#x201d;) Entered into a Share Exchange Agreement, whereby the Company shall issue 239,387,189 shares of series A convertible preferred stock at a price of $0.33 per share, in exchange of 100% ownership of OOB HK, which owns 100% of Tone Rich (Shanghai) Limited that holds 69.6% of OOB Media (Sichuan) Company Limited, an advertising media technology and agency company. 110000 100000 0.60 400000 EX-101.SCH 6 seii-20200331.xsd XBRL SCHEMA FILE 001 - Statement - Condensed Consolidated Balance Sheets link:presentationLink link:definitionLink link:calculationLink 002 - Statement - Condensed Consolidated Balance Sheets (Parentheticals) link:presentationLink link:definitionLink link:calculationLink 003 - Statement - Condensed Consolidated Statements 0f Operations and Comprehensive Loss (Unaudited) link:presentationLink link:definitionLink link:calculationLink 003 - Statement - Condensed Consolidated Statements 0f Operations and Comprehensive Loss (Unaudited) Alternate 0 link:presentationLink link:definitionLink link:calculationLink 004 - Statement - Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) link:presentationLink link:definitionLink link:calculationLink 005 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) link:presentationLink link:definitionLink link:calculationLink 006 - Disclosure - Description of Business and Organization link:presentationLink link:definitionLink link:calculationLink 007 - Disclosure - Discontinued Operations link:presentationLink link:definitionLink link:calculationLink 008 - Disclosure - Intangible Assets link:presentationLink link:definitionLink link:calculationLink 009 - Disclosure - Short-Term Bank Loans link:presentationLink link:definitionLink link:calculationLink 010 - Disclosure - Convertible Note Payable link:presentationLink link:definitionLink link:calculationLink 011 - Disclosure - Related Party Transactions link:presentationLink link:definitionLink link:calculationLink 012 - Disclosure - Stockholders’ Deficit link:presentationLink link:definitionLink link:calculationLink 013 - Disclosure - Concentrations link:presentationLink link:definitionLink link:calculationLink 014 - Disclosure - Commitment and Contingencies link:presentationLink link:definitionLink link:calculationLink 015 - Disclosure - Subsequent Events link:presentationLink link:definitionLink link:calculationLink 016 - Disclosure - Accounting Policies, by Policy (Policies) link:presentationLink link:definitionLink link:calculationLink 017 - Disclosure - Description of Business and Organization (Tables) link:presentationLink link:definitionLink link:calculationLink 018 - Disclosure - Discontinued Operations (Tables) link:presentationLink link:definitionLink link:calculationLink 019 - Disclosure - Intangible Assets (Tables) link:presentationLink link:definitionLink link:calculationLink 020 - Disclosure - Short-Term Bank Loans (Tables) link:presentationLink link:definitionLink link:calculationLink 021 - Disclosure - Convertible Note Payable (Tables) link:presentationLink link:definitionLink link:calculationLink 022 - Disclosure - Description of Business and Organization (Details) link:presentationLink link:definitionLink link:calculationLink 023 - Disclosure - Description of Business and Organization (Details) - Schedule of assets and liabilities measured at fair value link:presentationLink link:definitionLink link:calculationLink 024 - Disclosure - Description of Business and Organization (Details) - Schedule of property plant and equipment link:presentationLink link:definitionLink link:calculationLink 025 - Disclosure - Description of Business and Organization (Details) - Schedule of translation exchange rate link:presentationLink link:definitionLink link:calculationLink 026 - Disclosure - Description of Business and Organization (Details) - Schedule of reconciliation of basic and diluted net loss per share link:presentationLink link:definitionLink link:calculationLink 027 - Disclosure - Discontinued Operations (Details) link:presentationLink link:definitionLink link:calculationLink 028 - Disclosure - Discontinued Operations (Details) - Schedule of carrying amount of the VIE's assets and liabilities included in the accompanying consolidated financial statements link:presentationLink link:definitionLink link:calculationLink 029 - Disclosure - Intangible Assets (Details) link:presentationLink link:definitionLink link:calculationLink 030 - Disclosure - Intangible Assets (Details) - Schedule of intangible assets link:presentationLink link:definitionLink link:calculationLink 031 - Disclosure - Intangible Assets (Details) - Schedule of amortization of intangible assets attributable to future periods link:presentationLink link:definitionLink link:calculationLink 032 - Disclosure - Short-Term Bank Loans (Details) link:presentationLink link:definitionLink link:calculationLink 033 - Disclosure - Short-Term Bank Loans (Details) - Schedule of bank loans link:presentationLink link:definitionLink link:calculationLink 034 - Disclosure - Convertible Note Payable (Details) link:presentationLink link:definitionLink link:calculationLink 035 - Disclosure - Convertible Note Payable (Details) - Schedule of convertible debt link:presentationLink link:definitionLink link:calculationLink 036 - Disclosure - Related Party Transactions (Details) link:presentationLink link:definitionLink link:calculationLink 037 - Disclosure - Stockholders’ Deficit (Details) link:presentationLink link:definitionLink link:calculationLink 038 - Disclosure - Concentrations (Details) link:presentationLink link:definitionLink link:calculationLink 039 - Disclosure - Commitment and Contingencies (Details) link:presentationLink link:definitionLink link:calculationLink 040 - Disclosure - Subsequent Events (Details) link:presentationLink link:definitionLink link:calculationLink 000 - Document - Document And Entity Information link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 7 seii-20200331_cal.xml XBRL CALCULATION FILE EX-101.DEF 8 seii-20200331_def.xml XBRL DEFINITION FILE EX-101.LAB 9 seii-20200331_lab.xml XBRL LABEL FILE EX-101.PRE 10 seii-20200331_pre.xml XBRL PRESENTATION FILE XML 11 R1.htm IDEA: XBRL DOCUMENT v3.20.2
Document And Entity Information - shares
3 Months Ended
Mar. 31, 2020
Aug. 16, 2020
Document Information Line Items    
Entity Registrant Name SHARING ECONOMY INTERNATIONAL INC.  
Document Type 10-Q  
Current Fiscal Year End Date --12-31  
Entity Common Stock, Shares Outstanding   7,222,853,342
Amendment Flag false  
Entity Central Index Key 0000819926  
Entity Current Reporting Status Yes  
Entity Filer Category Non-accelerated Filer  
Document Period End Date Mar. 31, 2020  
Document Fiscal Year Focus 2020  
Document Fiscal Period Focus Q1  
Entity Small Business true  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity File Number 001-34591  
Entity Incorporation, State or Country Code NV  
Entity Interactive Data Current Yes  
XML 12 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 45,708 $ 83,667
Accounts receivable, net of allowance for doubtful accounts 9,866 305
Prepaid expenses and other receivables 868,919 1,019,883
Marketable securities 2,531,283 4,532,296
Total current assets 3,455,776 5,636,151
OTHER ASSETS:    
Property and equipment, net 586,118 620,075
Intangible assets, net 1,057,945 1,108,407
Total other assets 1,644,063 1,728,482
Total assets 5,099,839 7,364,633
CURRENT LIABILITIES:    
Short-term bank loans 4,683,873 4,676,184
Convertible note payable, net of unamortized debt discount 838,571 838,571
Accounts payable 5,598 516,341
Accrued expenses 811,253 279,941
Due to related parties 2,733,844 2,365,504
Income taxes payable 6,802
Deferred revenue 589  
Total current liabilities 9,073,728 8,683,343
LONG-TERM LIABILITIES:    
Long-term loan 4,944,433 4,981,361
Total liabilities 14,018,161 13,664,704
STOCKHOLDERS’ DEFICIT:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized; Series A Preferred stock ($0.001 par value; 50,000,000 shares authorized; 0 and 0 issued and outstanding at March 31, 2020 and December 31, 2019, respectively)
Common stock ($0.001 par value; 7,400,000,000 shares authorized; 199,418,592 and 199,418,592 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively) 199,418 199,418
Common stock to be issued 7,018,942 7,018,942
Additional paid-in capital 53,699,861 53,699,861
Accumulated losses (66,574,745) (66,300,687)
Accumulated other comprehensive (loss) income (1,968,118) 42,957
Total SEII stockholder’s deficit (7,624,642) (5,339,869)
Non-controlling interest (1,293,680) (960,202)
Total stockholders’ deficit (8,918,322) (6,300,071)
Total liabilities and stockholders’ deficit $ 5,099,839 $ 7,364,633
XML 13 R3.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares
Mar. 31, 2020
Dec. 31, 2019
Preferred stock, par value (in Dollars per share) $ 0.001 $ 0.001
Preferred stock, shares authorized 10,000,000 10,000,000
Common stock, par value (in Dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized 7,400,000,000 7,400,000,000
Common stock, shares issued 199,418,592 199,418,592
Common stock, shares outstanding 199,418,592 199,418,592
Series A Preferred Stock [Member]    
Preferred stock, par value (in Dollars per share) $ 0.001 $ 0.001
Preferred stock, shares authorized 50,000,000 50,000,000
Preferred stock, shares issued 0 0
Preferred stock, shares outstanding 0 0
XML 14 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements 0f Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Income Statement [Abstract]    
REVENUES $ 26,447 $ 3,789
COST OF REVENUES (781) (21,214)
GROSS PROFIT (LOSS) 25,666 (17,425)
OPERATING EXPENSES:    
Depreciation and amortization 84,590 73,968
Selling, general and administrative 398,939 2,137,161
Written-off prepayments 122,514
Total operating expenses 606,043 2,211,129
LOSS FROM OPERATIONS (580,377) (2,228,554)
OTHER INCOME (EXPENSE):    
Interest income 2 9
Interest expense (95,831) (90,815)
Loss on disposal of a subsidiary (70,901)
Foreign currency loss (3,099) (1,492)
Other income 73,564
Total other expense, net (96,265) (92,298)
LOSS FROM CONTINUING OPERATIONS BEFORE PROVISION FOR INCOME TAXES (676,642) (2,320,852)
PROVISIONS FOR INCOME TAXES:    
Current
Deferred
Total Income taxes provision
LOSS FROM CONTINUING OPERATIONS (676,642) (2,320,852)
DISCONTINUTED OPERATIONS:    
Loss from discontinued operations, net of income taxes (22,601,645)
NET LOSS (676,642) (24,922,497)
NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST (402,584) (202,068)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS (274,058) (24,720,429)
COMPREHENSIVE LOSS:    
Net loss (676,642) (24,922,497)
Fair value change on market securities (2,001,013)
Foreign currency translation gain (loss) (9,702) 682,029
Comprehensive loss (2,687,357) (24,240,468)
Net loss attributable to non-controlling interest (402,584) (202,068)
Foreign currency translation gain (loss) from non-controlling interest 1,394 (363)
Comprehensive loss attributable to common stockholders $ (2,286,167) $ (24,038,037)
NET LOSS PER COMMON SHARE:    
Continuing operations - basic and diluted (in Dollars per share) $ 0.00 $ (0.28)
Discontinued operations - basic and diluted (in Dollars per share) (2.78)
Net loss per common share - basic and diluted (in Dollars per share) $ 0.00 $ (3.06)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:    
Basic and diluted (in Shares) 199,418,592 8,118,610
XML 15 R5.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) - USD ($)
Common Stock
Common stock to be issued
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Income
Non-controlling Interest
Statutory Reserve
Total
Beginning balance at Dec. 31, 2018 $ 188,507 $ 7,018,942 $ 58,452,131 $ (40,099,942) $ 2,695,362 $ (539,802) $ 2,352,592 $ 30,067,790
Beginning balance (in Shares) at Dec. 31, 2018 188,506,928 7,018,942,195            
Common stock issued for cash $ 690 199,410 200,100
Common stock issued for cash (in Shares) 690,000              
Common stock issued for services to consultants and service providers $ 902 190,854 191,756
Common stock issued for services to consultants and service providers (in Shares) 901,948              
Common stock surrendered for services from consultants and service providers $ (270) (947,678) (947,948)
Common stock surrendered for services from consultants and service providers (in Shares) (270,479)              
Common stock issued upon conversion of debt $ 267 49,733 50,000
Common stock issued upon conversion of debt (in Shares) 266,667              
Common stock issued for donation $ 85 259,513 259,598
Common stock issued for donation (in Shares) 85,470              
Net loss for the period (24,720,429) (202,068) (24,922,497)
Fair value change on marketable securities              
Foreign currency translation adjustment 674,392 (363) 674,029
Ending balance at Mar. 31, 2019 $ 190,181 $ 7,018,942 58,203,963 (64,820,371) 3,369,754 (742,233) 2,352,592 5,572,828
Ending balance (in Shares) at Mar. 31, 2019 190,180,534 7,018,942,195            
Beginning balance at Dec. 31, 2019 $ 199,418 $ 7,018,942 53,699,861 (66,300,687) 42,597 (960,202)   (6,300,071)
Beginning balance (in Shares) at Dec. 31, 2019 199,418,592 7,018,942,195            
Loss from disposal of subsidiary   67,712 67,712
Net loss for the period (274,058) (402,584) (676,642)
Fair value change on marketable securities (2,001,013,000,000) (2,001,013)
Foreign currency translation adjustment 9,702 1,394 (8,308)
Ending balance at Mar. 31, 2020 $ 199,418 $ 7,018,942 $ 53,699,861 $ (66,574,745) $ (1,968,118) $ (1,293,680)   $ (8,918,322)
Ending balance (in Shares) at Mar. 31, 2020 199,418,592 7,018,942,195            
XML 16 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (676,642) $ (24,922,497)
Less: loss from discontinued operations 22,601,645
Net loss from continuing operations (676,642) (2,320,852)
Depreciation 33,842 6,245
Amortization of intangible assets 50,748 67,723
Written-off prepayments 122,514
Stock-based compensation   1,557,288
Loss on disposal of a subsidiary 70,901
Amortization of debt discount   69,502
Accounts receivable (9,561) 40,989
Prepaid expenses and other receivables 28,450 242,912
Accounts payable (510,743) 228,068
Accrued expenses 531,312 874
Income tax payable (6,802) (27,446)
Deferred revenue 589
CASH FLOWS USED IN OPERATING ACTIVITIES – continuing operations (365,392) (134,697)
CASH FLOWS USED IN OPERATING ACTIVITIES – discontinued operations (251,849)
CASH FLOWS USED IN OPERATING ACTIVITIES (365,392) (386,546)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceed from disposal of a subsidiary 8,251
CASH FLOWS PROVIDED BY INVESTING ACTIVITIES – continuing operations 8,251
CASH FLOWS PROVIDED BY INVESTING ACTIVITIES – discontinued operations
CASH FLOWS INVESTING ACTIVITIES 8,251
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments of bank loan (29,239)
Advance from related party 368,340 135,691
Repayment to related party (31,604)
Proceeds from sale of common stock, net 200,100
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES – continuing operations 339,101 304,187
CASH FLOWS USED IN FINANCING CTIVITIES – discontinued operations (209,127)
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES: 339,101 95,060
Effect of exchange rate changes (19,919) (169,449)
Net change in cash and cash equivalents (37,959) (460,935)
Cash and cash equivalents - beginning of period 83,667 883,461
Cash and cash equivalents - end of period 45,708 422,526
Less: Cash and cash equivalents from discontinued operations (211,049)
Cash and cash equivalents from continuing operations, end of period 45,708 211,477
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest 95,831 90,815
Income taxes
Interest 41,998
Income taxes
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Stock issued for future services to consultants and vendors 111,280
Stock issued for redemption of convertible note and accrued interest $ 50,000
XML 17 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Description of Business and Organization
3 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
DESCRIPTION OF BUSINESS AND ORGANIZATION

NOTE 1 – DESCRIPTION OF BUSINESS AND ORGANIZATION


Sharing Economy International Inc. (the “Company”) was incorporated in Delaware on June 24, 1987 under the name of Malex, Inc. On December 18, 2007, the Company’s corporate name was changed to China Wind Systems, Inc. and on June 13, 2011, the Company changed its corporate name to Cleantech Solutions International, Inc. On August 7, 2012, the Company was converted into a Nevada corporation. On January 8, 2018, the Company changed its corporate name to Sharing Economy International Inc. 


Following the closure of its operations in the PRC during 2019, the Company’s latest business initiatives are focused on targeting the technology and global sharing economy markets, by developing online platforms and rental business partnerships that will drive the global development of sharing through economical rental business models. In connection with the new business initiatives, the Company formed or acquired the following subsidiaries:


  Vantage Ultimate Limited (“Vantage”), a company incorporated under the laws of British Virgin Islands on February 1, 2017 and is wholly-owned by the Company.
  Sharing Economy Investment Limited (“Sharing Economy”), a company incorporated under the laws of British Virgin Islands on May 18, 2017 and is wholly-owned by Vantage.
  EC Advertising Limited (“EC Advertising”), a company incorporated under the laws of Hong Kong on March 17, 2017 and is a wholly-owned by Sharing Economy.
  EC Rental Limited (“EC Rental”), a company incorporated under the laws of British Virgin Islands on May 22, 2017 and is wholly-owned by Vantage.
  EC Assets Management Limited (“EC Assets”), a company incorporated under the laws of British Virgin Islands on May 22, 2017 and is wholly-owned by Vantage.
  Cleantech Solutions Limited (formerly known as EC (Fly Car) Limited), a company incorporated under the laws of British Virgin Islands on May 22, 2017 and is a wholly-owned by Sharing Economy.
  Global Bike Share (Mobile App) Limited, a company incorporated under the laws of British Virgin Islands on May 23, 2017 and is a wholly-owned by Sharing Economy.
  EC Power (Global) Technology Limited (“EC Power”), a company incorporated under the laws of British Virgin Islands on May 26, 2017 and is wholly-owned by EC Rental.
  ECPower (HK) Company Limited, a company incorporated under the laws of Hong Kong on June 23, 2017 and is wholly-owned by EC Power.
  EC Manpower Limited, a company incorporated under the laws of Hong Kong on July 3, 2017 and is wholly-owned by Vantage.
  EC Technology & Innovations Limited (“EC Technology”), a company incorporated under the laws of British Virgin Islands on September 1, 2017 and is wholly-owned by Vantage.
  Inspirit Studio Limited (“Inspirit Studios”), a company incorporated under the laws of Hong Kong on August 24, 2015, and 51% of its shareholding was acquired by EC Technology on December 8, 2017.
  EC Creative Limited (“EC Creative”), a company incorporated under the laws of British Virgin Islands on January 9, 2018 and is wholly-owned by Vantage.
  3D Discovery Co. Limited (“3D Discovery”), a company incorporated under the laws of Hong Kong on February 24, 2015, and 60% of its shareholdings was acquired by EC Technology on January 19, 2018.
  Sharing Film International Limited, a company incorporated under the laws of Hong Kong on January 22, 2018 and is a wholly-owned by EC Creative.
  AnyWorkspace Limited (“AnyWorkspace”), a company incorporated under the laws of Hong Kong on November 12, 2015, and 80% of its shareholding was acquired by Sharing Economy on January 30, 2018.
  Xiamen Great Media Company Limited (“Xiamen Great Media”), a company incorporated under the laws of the PRC on September 5, 2018 and is a wholly-owned by EC Advertising.

On March 24, 2020, the Company sold its equity interest of 80% in AnyWorkspace Limited for a consideration of approximately $8,251 with a loss on disposal of $70,901.


Going Concern


These condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying condensed consolidated financial statements, the Company had a loss from continuing operations of approximately $676,642 for the three months ended March 31, 2020 and suffered from the accumulated deficit of $66,574,745 at that date. The net cash used in operations were approximately $365,392 for the three months ended March 31, 2020. Management believes that its capital resources are not currently adequate to continue operating and maintaining its business strategy for twelve months from the date of this report. The Company may seek to raise capital through additional debt and/or equity financings to fund its operations in the future. Although the Company has historically raised capital from sales of equity and from bank loans, there is no assurance that it will be able to continue to do so. If the Company is unable to raise additional capital or secure additional lending in the near future, management expects that the Company will need to curtail or cease operations.


Management believes that these matters raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying condensed consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or classification of liabilities that might be necessary should the Company be unable to continue as a going concern.


Listing Status


On November 26, 2018, Sharing Economy International Inc. (the “Company”) received a staff determination notice from The Nasdaq Stock Market (“Nasdaq”) informing the Company that as a result of its failure to comply with Nasdaq’s shareholder approval requirements set forth in Listing Rule 5635(c) (the “Rule”), the staff determined to deny the Company’s request for continued listing based on a plan of compliance submitted on October 26, 2018. The Company’s common stock was delisted from Nasdaq at the open of trading on December 5, 2018. The Company’s common stock is currently trading on the OTC Markets under the symbol “SEII”. On January 2, 2020, the Company is trading on OTCQB.


Basis of Presentation


The accompanying unaudited condensed consolidated financial statements have been prepared by management in accordance with both accounting principles generally accepted in the United States (“GAAP”), and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Certain information and note disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading.


In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2019 and footnotes thereto included in the Company’s Annual Report on Form 10-K filed with the SEC on July 24, 2020. The consolidated balance sheet as of December 31, 2019 contained herein has been derived from the audited consolidated financial statements as of December 31, 2019, but does not include all disclosures required by the generally accepted accounting principles in the U.S. (“U.S. GAAP”).


Principles of Consolidation


The Company’s unaudited condensed consolidated financial statements include the financial statements of its wholly-owned and majority owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.


Use of Estimates


The preparation of the unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. Actual results could materially differ from these estimates. Significant estimates in the three months ended March 31, 2020 and 2019 include the allowance for doubtful accounts on accounts and other receivables, the useful life of property and equipment and intangible assets, assumptions used in assessing impairment of long-term assets, valuation of deferred tax assets, and the value of stock-based compensation.


Cash and Cash Equivalents


The Company considers all highly liquid instruments purchased with a maturity of three months or less and money market accounts to be cash equivalents. Cash equivalents include highly liquid investments with maturities of three months or less when purchased. Cash and cash equivalents held at financial institutions may at times exceed insured amounts. It is believed that the Company mitigates such risk by investing in or through major financial institutions.


Fair Value of Financial Instruments


The Company adopted the guidance of ASC Topic 820 for fair value measurements which clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows:


Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.


Level 2 - Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.


Level 3 - Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information.


The carrying amounts reported in the condensed consolidated balance sheets for cash and cash equivalents, accounts receivable, prepaid expenses and other receivables, short-term bank loans, convertible notes payable, note payable, accounts payable, accrued liabilities, amount due to a related party and income taxes payable approximate their fair market value based on the short-term maturity of these instruments.


ASC Topic 825-10 “Financial Instruments” allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable, unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company did not elect to apply the fair value option to any outstanding instruments.


The following table presents information about the Company’s assets and liabilities that were measured at fair value as of March 31, 2020 and December 31, 2019, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.


   March 31,   Quoted
Prices In
Active Markets
   Significant
Other
Observable
Inputs
   Significant
Other
Unobservable
Inputs
 
Description  2020   (Level 1)   (Level 2)   (Level 3) 
Assets:                
Marketable securities, available-for-sale  $2,531,283   $2,531,283   $   $ 
                     
   December 31,   Quoted
Prices In
Active Markets
   Significant
Other
Observable
Inputs
   Significant
Other
Unobservable
Inputs
 
Description  2019   (Level 1)   (Level 2)   (Level 3) 
Assets:                
Marketable securities, available-for-sale  $4,532,296   $4,532,296   $        –   $       – 

As of March 31, 2020 and December 31, 2019, the Company did not have any nonfinancial assets and liabilities that are recognized or disclosed at fair value in the financial statements, at least annually, on a recurring basis, nor did the Company have any assets or liabilities measured at fair value on a non-recurring basis.


Concentrations of Credit Risk


The Company’s operations are carried out in Hong Kong. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environment in Hong Kong. The Company’s operations in Hong Kong are subject to specific considerations and significant risks not typically associated with companies in North America. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.


Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and trade accounts receivable. Substantially all of the Company’s cash is maintained with state-owned banks within the Hong Kong, and none of these deposits are covered by insurance. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts. A significant portion of the Company’s sales are credit sales which are primarily to customers whose ability to pay is dependent upon the industry economics prevailing in these areas; however, concentrations of credit risk with respect to trade accounts receivables is limited due to generally short payment terms. The Company also performs ongoing credit evaluations of its customers to help further reduce credit risk.


Accounts Receivable


Accounts receivable are presented net of an allowance for doubtful accounts. The Company maintains allowances for doubtful accounts for estimated losses. The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances, the Company considers many factors, including the age of the balance, a customer’s historical payment history, its current credit-worthiness and current economic trends. Accounts are written off after exhaustive efforts at collection. At March 31, 2020 and December 31, 2019, the Company has established, based on a review of its outstanding balances, an allowance for doubtful accounts in the amounts of $0 and $48,952, respectively. 


Property and Equipment


Property and equipment are carried at cost and are depreciated on a straight-line basis over the estimated useful lives of the assets. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in the statements of operations in the year of disposition. The Company examines the possibility of decreases in the value of fixed assets when events or changes in circumstances reflect the fact that their recorded value may not be recoverable. Impairment loss has been recorded in current period.


    Useful life
Office equipment and furniture   5 years
Vehicles   5 years
Vessels   5 years

Depreciation expense from continuing operations for the three months ended March 31, 2020 and 2019 amounted to $33,842 and $6,245, respectively.


Depreciation expense from discontinued operations for the three months ended March 31, 2020 and 2019 amounted to $0 and $689,286, respectively.


Impairment of long-lived assets and intangible assets


In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. At March 31, 2020 and December 31, 2019, the Company conducted an impairment assessment on property, equipment and intangible asset based on the guidelines established in ASC Topic 360 to determine the estimated fair market value of property, equipment and intangible asset as of March 31, 2020 and December 31, 2019. Such analysis considered future use of such equipment, consultation with equipment resellers, subsequent sales of price of equipment held for sale, and other industry factors. Upon completion of the annual impairment analysis, the Company recorded impairment charges on long-lived assets of $0 and $13,586,059, for the three months ended March 31, 2020 and 2019, in relation to its discontinued operations.


Revenue recognition


In May 2014, FASB issued an update Accounting Standards Update (“ASU”) (“ASU 2014-09”) establishing Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”). ASU 2014-09, as amended by subsequent ASUs on the topic, establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance. This standard, which is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2017, requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also requires certain additional disclosures. The Company adopted this standard in 2018 using the modified retrospective approach, which requires applying the new standard to all existing contracts not yet completed as of the effective date and recording a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. Based on an evaluation of the impact ASU 2014-09 will have on the Company’s sources of revenue, the Company has concluded that ASU 2014-09 did not have a material impact on the process for, timing of, and presentation and disclosure of revenue recognition from customers.


Continuing operations


The Company derives its revenues from the sale of licence and advertising right and in a term of certain periods. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements:


  identify the contract with a customer;
  identify the performance obligations in the contract;
  determine the transaction price;
  allocate the transaction price to performance obligations in the contract; and
  recognize revenue as the performance obligation is satisfied.

Discontinued operations


The Company recognizes revenues from the sale of equipment upon shipment and transfer of title. The other elements may include installation and, generally, a one-year warranty. Equipment installation revenue is valued based on estimated service person hours to complete installation and is recognized when the labor has been completed and the equipment has been accepted by the customer, which is generally within a couple days of the delivery of the equipment. Warranty revenue is valued based on estimated service person hours to complete a service and generally is recognized over the contract period.


All other product sales with customer specific acceptance provisions are recognized upon customer acceptance and the delivery of the parts or service. Revenues related to spare part sales are recognized upon shipment or delivery based on the trade terms.


Stock-Based Compensation


Stock-based compensation is accounted for based on the requirements of the Share-Based Payment topic of ASC Topic 718, which requires recognition in the financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the vesting period or immediately if fully vested and non-forfeitable. The Financial Accounting Standards Board (“FASB”) also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award.


Foreign Currency Translation


The reporting currency of the Company is the U.S. dollar. The functional currency of the parent company is the U.S. dollar and the functional currency of the Company’s operating subsidiaries is the Chinese Renminbi (“RMB”) or Hong Kong dollars (HKD). For the subsidiaries and affiliates, whose functional currencies are the RMB or HKD, results of operations and cash flows are translated at average exchange rates during the period, assets and liabilities are translated at the unified exchange rate at the end of the period, and equity is translated at historical exchange rates. As a result, amounts relating to assets and liabilities reported on the statements of cash flows may not necessarily agree with the changes in the corresponding balances on the balance sheets. Translation adjustments resulting from the process of translating the local currency financial statements into U.S. dollars are included in determining comprehensive loss. The cumulative translation adjustment and effect of exchange rate changes on cash for the three months ended March 31, 2020 and 2019 was $19,919 and $169,449, respectively.


The Company did not enter into any material transaction in foreign currencies. Transaction gains or losses have not had, and are not expected to have, a material effect on the results of operations of the Company.


Translation of amounts from RMB and HK$ into US$ has been made at the following exchange rates for the period ended March 31, 2020 and 2019:


   March 31, 2020   March 31, 2019 
Period-end RMB:US$ exchange rate   7.1363    6.7112 
Period average RMB:US$ exchange rate   6.8609    6.7447 
Period-end HK$:US$ exchange rate   7.7872    7.8498 
Period average HK$:US$ exchange rate   7.8000    7.8000 

Loss Per Share of Common Stock


Basic net loss per share is computed by dividing net loss available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. The Company did not have any common stock equivalents or potentially dilutive common stock outstanding during the three months ended March 31, 2020 and 2019. In a period in which the Company has a net loss, all potentially dilutive securities are excluded from the computation of diluted shares outstanding as they would have had an anti-dilutive impact. 


The following table presents a reconciliation of basic and diluted net loss per share:


   Three months ended
March 31,
 
   2020   2019 
Net Loss for basic and diluted attributable to common shareholders  $(274,058)  $(24,720,429)
From continuing operations   (274,058)   (2,118,784)
From discontinued operations  $-   $(22,601,645)
           
Weighted average common stock outstanding – basic and diluted   199,418,592    8,118,610 
           
Net loss per share of common stock          
From continuing operations – basic and diluted  $(0.00)  $(0.28)
From discontinued operations – basic and diluted        (2.78)
Net loss per common share – basic and diluted  $(0.00)  $(3.06)

Comprehensive Loss


Comprehensive loss is comprised of net loss and all changes to the statements of stockholders’ equity, except those due to investments by stockholders, changes in paid-in capital and distributions to stockholders. For the Company, comprehensive loss income for the three months ended March 31, 2020 and 2019 included net loss, unrealized loss from fair value change of marketable securities and unrealized gain from foreign currency translation adjustments. 


Reclassification


Certain reclassifications have been made in prior period’s consolidated financial statements to conform to the current year’s financial presentation. The reclassifications have no effect on previously reported net loss.


Recent Accounting Pronouncements


In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”. Under ASU 2016-02, lessees will be required to recognize all leases (with the exception of short-term leases) at the commencement date including a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use (ROU) asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Leases with a term of twelve months or less will be accounted for similar to existing guidance for operating leases. In December 2017, January 2018, July 2018, December 2018 and March 2020, the FASB issued ASU 2017-13, ASU 2018-01, ASU 2018-10 & 11, ASU 2018-20 and ASU 2019-01, respectively, which contain modifications and improvements to ASU 2016-02. The amendments provide entities with an additional (and optional) transition method to adopt the new leases standard. Under the Optional Transition Method, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. On January 1, 2019, the Company adopted ASC Topic 842 using the modified retrospective approach and elected to utilize the Optional Transition Method. In addition, the Company elected the land easement transition practical expedient and did not reassess whether an existing or expired land easement is a lease or contains a lease if it has not historically been accounted for as a lease. The adoption did not impact the Company’s previously reported consolidated financial statements nor did it result in a cumulative effect adjustment to retained earnings as of January 1, 2019. 


In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment. ASU 2018-07 aligns the accounting for share based payments granted to non-employees with that of share based payments granted to employees. The Company early adopted ASU No. 2018-07 in the fourth quarter of 2018 and there was no cumulative effect of adoption. The adoption of this ASU did not have a material impact on our financial position, results of operations, cash flows, or presentation thereof.


XML 18 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Discontinued Operations
3 Months Ended
Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS

NOTE 2 – DISCONTINUED OPERATIONS


On December 30, 2019, the Company’s Board of Directors approved to enter into a VIE Termination Agreement relating to the termination of the Consulting Services Agreement, Operating Agreement, Equity Pledge Agreement, Option Agreement, Voting Rights Proxy Agreement dated October 12, 2007 with Huayang Companies. The operations in China was closed down and fully written-off at December 31, 2019. The assets and liabilities of Huayang Companies have been accounted for as discontinued operations in the Company’s combined and consolidated balance sheets for all periods presented. The operating results related to these lines of business have been included in discontinued operations in the Company’s combined and consolidated statements of operations for all periods presented.


On March 24, 2020, the Company sold its equity interest of 80% in AnyWorkspace Limited. The assets and liabilities of AnyWorkspace Companies have been accounted for as discontinued operations in the Company’s combined and consolidated balance sheets for all periods presented. The operating results related to these lines of business have been included in discontinued operations in the Company’s combined and consolidated statements of operations for all periods presented.


The summarized operating result of discontinued operations included in the Company’s unaudited condensed consolidated statements of operations is as follows: 


   Three months ended
March 31,
 
   2020   2019 
Revenues  $-   $1,887,265 
Cost of revenues   -    (5,699,420)
Gross loss   -    (3,812,155)
Operating income:          
Other operating expense   -    (18,746,856)
Total operating expense   -    (18,746,856)
Other expense, net   -    (42,634)
Loss from discontinued operations, net of income taxes  $-   $(22,601,645)

XML 19 R9.htm IDEA: XBRL DOCUMENT v3.20.2
Intangible Assets
3 Months Ended
Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 3 – INTANGIBLE ASSETS


As of March 31, 2020 and December 31, 2019, intangible assets consisted of the following:


   Useful life  March 31, 2020   December 31, 2019 
      (Unaudited)   (Audited) 
            
Other intangible assets  3 – 5 years   843,817    843,817 
Redemption code  5 years   750,000    750,000 
Goodwill  infinite   27,353    27,353 
       1,621,170    1,621,170 
Less: accumulated amortization      (563,225)   (512,763)
      $1,057,945   $1,108,407 

Amortization of intangible assets attributable to future periods is as follows:


Year ending March 31:  Amount 
2021  $419,317 
2022   140,353 
2023   167,932 
2024   152,988 
2025   150,000 
   $1,030,590 

Amortization of intangible assets from continuing operations was $50,748 and $67,723 for the three months ended March 31, 2020 and 2019, respectively. Amortization of intangible assets from discontinued operations was $0 and $20,882 for the three months ended March 31, 2020 and 2019, respectively.


XML 20 R10.htm IDEA: XBRL DOCUMENT v3.20.2
Short-Term Bank Loans
3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
SHORT-TERM BANK LOANS

NOTE 4 – BANK LOANS


Bank loans of $5,069,557 represented amount due to one financial institution in Hong Kong that are repayable in a term of 30 years, with 360 monthly installments and interest is charged at the annual rate of 2.5% below its best lending rate.


Revolving credit line of $4,558,749 is expected to be repaid in the next twelve months and interest is charged at the rate of 3.2625% per annum over the Hong Kong Dollar Best Lending Rate.


At March 31, 2020 , the banking facilities of the Company were secured by:


  Personal guarantee by the directors of the Company’s subsidiary;
  Legal charge and rental assignment over the leasehold land and buildings owned by its related companies which are controlled by the major shareholder of the Company, Mr. Chan Tin Chi; and
  Hong Kong Mortgage Corporation Limited.

At March 31, 2020 and December 31, 2019, bank loans consisted of the following:


   March 31,
2020
   December 31,
2019
 
   (Unaudited)   (Audited) 
Mortgage loan  $5,069,557   $5,098,796 
Line of revolving loan   4,558,749    4,558,749 
Short-term bank loans   -    1,195,297 
           
Total bank loans   9,628,306    10,852,842 
Less: Total bank loans – discontinued operations   -    (1,195,297)
Total bank loans – continuing operations  $9,628,306   $9,657,545 
           
Reclassifying as:          
Current portion  $4,683,873   $4,676,184 
Long-term portion (more than 12 months)   4,944,433    4,981,361 
           
Total bank loans  $9,628,306   $9,657,545 

Interest related to the bank loans from continuing operations was $95,831 and $90,815 for the three months ended March 31, 2020 and 2019, respectively. Interest related to the bank loans from discontinued operations was $0 and $41,998 for the three months ended March 31, 2020 and 2019, respectively. All interests are included in interest expense on the accompanying condensed consolidated statements of operations. 


XML 21 R11.htm IDEA: XBRL DOCUMENT v3.20.2
Convertible Note Payable
3 Months Ended
Mar. 31, 2020
Convertible Note Payable [Abstract]  
CONVERTIBLE NOTE PAYABLE

NOTE 5 – CONVERTIBLE NOTE PAYABLE


Securities purchase agreement and related convertible note and warrants


On May 2, 2018, pursuant to a securities purchase agreement, the Company closed a private placement of securities with Iliad Research and Trading, L.P. (the “Investor”) pursuant to which the Investor purchased a Convertible Promissory Note (the “Iliad Note”) in the original principal amount of $900,000, convertible into shares of common stock of the Company (the “Common Stock”), upon the terms and subject to the limitations and conditions set forth in the Iliad Note, and a two year Warrant to purchase 134,328 shares of Common Stock at an exercise price of $7.18 per share (the “Warrant”). In connection with the Iliad Note, the Company paid an original issue discount of $150,000 and paid issuance costs of $45,018 which will be reflected as a debt discount and amortized over the Iliad Note term. The Iliad Note bears interest at 10% per annum, is unsecured, and is due on the date that is fifteen months from May 2, 2018. The warrants shall expire on the last calendar day of the month in which the second anniversary of the Issue Date occurs. On November 8, 2018, the Company converted an aggregate of $27,811 and $47,189 outstanding principal and interest of the Iliad Note, respectively, into a total of 36,621 shares of its common stock. On January 11, 2019, the Company converted an aggregate of $34,103 and $15,897 outstanding principal and interest of the Iliad Note, respectively, into 266,667 shares of its common stock.


The Investor has the right at any time after May 2, 2018 until the outstanding balance has been paid in full to convert all or any part of the outstanding balance into shares of common stock of the Company at conversion price of $6.70 per share (the “Lender Conversion Price”). The Lender Conversion Price is subject to certain adjustments set forth in the Iliad Note. The conversion price for each Redemption Conversion (the “Redemption Conversion Price”) shall be the lesser of (a) the Lender Conversion Price, and (b) the Market Price; provided, however, in no event shall the Redemption Conversion Price be less than $2.00 per share (“Conversion Price Floor”) unless the Company waive the Conversion Price Floor.


This debt instrument includes embedded components including a put option. The Company evaluated these embedded components to determine whether they are embedded derivatives within the scope of ASC 815 that should be separately carried at fair value. ASC 815-15-25-1 provides guidance on when an embedded component should be separated from its host instrument and accounted for separately as a derivative. Based on this analysis, the Company believes that the put option is clearly and closely related to the debt instrument and does not meet the definition of a derivative. Accordingly, in connection with this Iliad Note, the Company recorded a debt discount for (a) the original issue discount of $150,000 (b) the relative fair value of the warrants issued of $152,490 and (c) legal fees and other fees paid in connection with the Iliad Note aggregating $45,018. There is no beneficial conversion feature on this Iliad Note. The debt discount shall be accreted on a straight line basis over the term of this Iliad Note.


As of March 31, 2020 and December 31, 2019, convertible debt consisted of the following:


   March 31,
2020
   December 31,
2019
 
   (Unaudited)   (Audited) 
Principal  $838,571   $838,571 
Unamortized discount   -    - 
Convertible debt, net  $838,571   $838,571 

There was no amortization of discount for the three months ended March 31, 2020 and 2019. As of March 31, 2020 and December 31, 2019, accrued interest amounted to $85,803 and $63,303, respectively.


XML 22 R12.htm IDEA: XBRL DOCUMENT v3.20.2
Related Party Transactions
3 Months Ended
Mar. 31, 2020
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 6 – RELATED PARTY TRANSACTIONS


Due to related parties


From time to time, during 2019 and 2018, the Company receive advances from Chan Tin Chi Family Company Limited (formerly known as YSK 1860 Co., Limited), who is the major shareholder of the Company for working capital purposes. These advances are non-interest bearing and are payable on demand. During the three months ended March 31, 2020 and 2019, the Company received advances from Chan Tin Chi Family Company Limited for working capital totaled $310,493 and $820,061, respectively, and repaid to Chan Tin Chi Family Company Limited a total of $0 and $31,604, respectively. At March 31, 2020 and December 31, 2019, amounts due to Chan Tin Chi Family Company Limited amounted to $2,356,455 and $2,045,962, respectively.


At March 31, 2020 and December 31, 2019, amounts due to related companies amounted to $377,389 and $319,542, respectively.


The amounts are unsecured, interest-free and have no fixed terms of repayment.


XML 23 R13.htm IDEA: XBRL DOCUMENT v3.20.2
Stockholders’ Deficit
3 Months Ended
Mar. 31, 2020
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS’ DEFICIT

NOTE 7 – STOCKHOLDERS’ DEFICIT


In March 2020, an amendment to The Company’s Articles of Incorporation to increase the number of shares of common stock which the Company is authorized to issue from 250,000,000 to 7,450,000,000 was approved. The Company issued the remaining 7,018,360,787 shares of common stock to Peak Equity shareholders subsequently in April 2020.


As of March 31, 2020, the Company’s authorized share is 7,450,000,000 common shares with a par value of $0.001 per share, consisting of 50,000,000 shares of preferred stock and 7,400,000,000 shares of common stock.


As of March 31, 2020 and December 31, 2019, the Company has 199,418,592 shares and 199,418,592 shares of common stock issued and outstanding, respectively.


XML 24 R14.htm IDEA: XBRL DOCUMENT v3.20.2
Concentrations
3 Months Ended
Mar. 31, 2020
Risks and Uncertainties [Abstract]  
CONCENTRATIONS

NOTE 8 – CONCENTRATIONS


Customers


For the three months ended March 31, 2020 and 2019, there are no customers representing more than 10% of the Company’s revenue.


Vendors


For the three months ended March 31, 2020 and 2019, there are no vendors representing more than 10% of the Company’s purchase.


XML 25 R15.htm IDEA: XBRL DOCUMENT v3.20.2
Commitment and Contingencies
3 Months Ended
Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENT AND CONTINGENCIES

NOTE 9 – COMMITMENT AND CONTINGENCIES


Litigation: 


On April 25, 2019, ECPower (HK) Company Limited (“EC Power”), a subsidiary of SEII, filed a claim against The Dairy Farm Limited (“Dairy Farm”) in respect of the cooperation agreement between the two parties for the battery rental business at 7-Eleven outlets in Hong Kong during the period from September 2017 to February 2018. The claim is for a total compensation of HK$1,395,000 (approximately $178,846) which comprises of (i) HK$45,000 (approximately $5,769) as compensation for interest and administration cost incurred as a result of Dairy Farm’s delay in payment of EC Power’s share of the rental income, and (ii) HK$1,350,000 (approximately $173,077) as compensation for Dairy Farm’s early termination of the cooperation agreement without any valid proof of fault on the part of EC Power.


Legal proceedings:


On June 10, 2020, the Company’s subsidiary, Ecrent Worldwide Company Limited (“Ecrent Worldwide”), a wholly owned subsidiary of Universal Sharing Limited (formerly known as Ecrent Holdings Limited), received a writ of summon (the “Summon”) issued by Messrs Wilkinson & Grist on behalf of Mr. Michael Andrew BERMAN and Mr. Eric Hans ISRAEL, who were the former Chief Executive Officer and Chief Financial Officer of Ecrent (America) Company Limited (“Ecrent America”) and Ecrent (USA) Company Limited (“Ecrent USA”). Both Ecrent America and Ecrent USA were the former subsidiaries of Universal Sharing Limited. On the same day, the Summon also delivered to Mr. Chan Tin Chi, the major shareholder of SEII and his spouse, Ms. Deborah Yuen Wai Ming. Pursuant to the US Judgement dated on September 25, 2019 issued by the Supreme Court of the State of New York County of Nassau, the Summon demands Ecrent Worldwide, Mr. Chan Tin Chi, and Ms. Deborah Yuen Wai Ming to fully settle an amount of approximately $241,706 and $103,841 to Mr. Berman and Mr. Israel, respectively representing the unpaid salary, benefits, expenses and incentive bonus. SEII intends to dispute these proceedings that the US Judgement is not enforceable under the Hong Kong jurisdiction.


In accordance with applicable accounting guidance, the Company records accruals for certain of its outstanding legal proceedings, investigations or claims when it is probable that a liability will be incurred, and the amount of loss can be reasonably estimated. The Company evaluates, on a quarterly basis, developments in legal proceedings, investigations or claims that could affect the amount of any accrual, as well as any developments that would make a loss contingency both probable and reasonably estimable. The Company discloses the amount of the accrual if the financial statements would be otherwise misleading.


When a loss contingency is not both probable and estimable, the Company does not establish an accrued liability. However, if the loss (or an additional loss in excess of the accrual) is at least a reasonable possibility and material, then the Company discloses an estimate of the possible loss or range of loss, if such estimate can be made or discloses that an estimate cannot be made.


XML 26 R16.htm IDEA: XBRL DOCUMENT v3.20.2
Subsequent Events
3 Months Ended
Mar. 31, 2020
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 10 – SUBSEQUENT EVENTS 


The Company is currently in default under Iliad Note with the outstanding balance of $838,571 in principal and $63,303 accrued interest at December 31, 2019. In April 2020, an amount of $100,000 was redeemed and converted 502,955 shares of the Company’s common stock. The remaining outstanding balance of Iliad Note was $1,269,464 at April 30, 2020. At the date of filing, both parties have not reached into the mutual agreement.


On April 5, 2020, the Company and Oasis Capital, LLC (“Oasis”) entered into a Equity Purchase Agreement, Oasis shall purchase from the Company up to Four Million Dollars ($4,000,000) of the Company’s Common Stock, at 85% of Market Price. On April 15, 2020, 400,000 shares of Common Stock has issued by the Company to Oasis as Commitment Shares. 


On April 7, 2020, the Company and Power Up Lending Group Ltd., (“Power Up”) entered into a Securities Purchase Agreement, whereby the Company issued a note to Power Up (the “Power Up Note”) in the principal amount of $83,000 with additional tranches of up to $1,000,000 in the aggregate over the next twelve (12) months, subject to the discretion of both parties. The Power Up Note is a convertible into shares of the common stock of the Company at a price equal to 65% of the average of the two (2) lowest trading prices for the Company’s common stock during the twenty (20) trading day period ending on the latest complete trading day prior to the conversion date.


On April 8, 2020, the Company and shareholder of OOB HK Media HK Limited (“OOB HK”) Entered into a Share Exchange Agreement, whereby the Company shall issue 239,387,189 shares of series A convertible preferred stock at a price of $0.33 per share, in exchange of 100% ownership of OOB HK, which owns 100% of Tone Rich (Shanghai) Limited that holds 69.6% of OOB Media (Sichuan) Company Limited, an advertising media technology and agency company. 


On April 14, 2020, the Company and Black Ice Advisors, LLC (“Black Ice”) entered into a Securities Purchase Agreement, whereby the Company issued a note to Black Ice (the “Black Ice Note”) in the principal amount of $110,000 in exchange for a total investment of $100,000. The Black Ice Note is a convertible into shares of the common stock of the Company at a price equal to 60% of the lowest trading price of the Company’s common stock for the fifteen (15) prior trading days including the day upon which a Notice of Conversion is received by the Company.


On April 21, 2020, the Company and StockVest (“StockVest”) entered into a Consulting, Public Relationship and Marketing Letter Agreement, StockVest shall provide SEII with coverage and launch a market awareness campaign and perform various public and investor relation services including but not limited to, news dissemination, creation and distribution of investor information, double opt-in email campaigns, internet profiles and social media feeds. On April 29, 2020, 400,000 shares of common stock has issued by the Company to StockVest as service fee.


In May 2020, a 1-for-50 reverse stock split of the issued and outstanding shares of our common stock was approved.


XML 27 R17.htm IDEA: XBRL DOCUMENT v3.20.2
Accounting Policies, by Policy (Policies)
3 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
Going Concern

Going Concern


These condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying condensed consolidated financial statements, the Company had a loss from continuing operations of approximately $676,642 for the three months ended March 31, 2020 and suffered from the accumulated deficit of $66,574,745 at that date. The net cash used in operations were approximately $365,392 for the three months ended March 31, 2020. Management believes that its capital resources are not currently adequate to continue operating and maintaining its business strategy for twelve months from the date of this report. The Company may seek to raise capital through additional debt and/or equity financings to fund its operations in the future. Although the Company has historically raised capital from sales of equity and from bank loans, there is no assurance that it will be able to continue to do so. If the Company is unable to raise additional capital or secure additional lending in the near future, management expects that the Company will need to curtail or cease operations.


Management believes that these matters raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying condensed consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Listing Status

Listing Status


On November 26, 2018, Sharing Economy International Inc. (the “Company”) received a staff determination notice from The Nasdaq Stock Market (“Nasdaq”) informing the Company that as a result of its failure to comply with Nasdaq’s shareholder approval requirements set forth in Listing Rule 5635(c) (the “Rule”), the staff determined to deny the Company’s request for continued listing based on a plan of compliance submitted on October 26, 2018. The Company’s common stock was delisted from Nasdaq at the open of trading on December 5, 2018. The Company’s common stock is currently trading on the OTC Markets under the symbol “SEII”. On January 2, 2020, the Company is trading on OTCQB.

Basis of Presentation

Basis of Presentation


The accompanying unaudited condensed consolidated financial statements have been prepared by management in accordance with both accounting principles generally accepted in the United States (“GAAP”), and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Certain information and note disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading.


In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2019 and footnotes thereto included in the Company’s Annual Report on Form 10-K filed with the SEC on July 24, 2020. The consolidated balance sheet as of December 31, 2019 contained herein has been derived from the audited consolidated financial statements as of December 31, 2019, but does not include all disclosures required by the generally accepted accounting principles in the U.S. (“U.S. GAAP”).

Principles of Consolidation

Principles of Consolidation


The Company’s unaudited condensed consolidated financial statements include the financial statements of its wholly-owned and majority owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of the unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. Actual results could materially differ from these estimates. Significant estimates in the three months ended March 31, 2020 and 2019 include the allowance for doubtful accounts on accounts and other receivables, the useful life of property and equipment and intangible assets, assumptions used in assessing impairment of long-term assets, valuation of deferred tax assets, and the value of stock-based compensation.

Cash and Cash Equivalents

Cash and Cash Equivalents


The Company considers all highly liquid instruments purchased with a maturity of three months or less and money market accounts to be cash equivalents. Cash equivalents include highly liquid investments with maturities of three months or less when purchased. Cash and cash equivalents held at financial institutions may at times exceed insured amounts. It is believed that the Company mitigates such risk by investing in or through major financial institutions.

Fair Value of Financial Instruments

Fair Value of Financial Instruments


The Company adopted the guidance of ASC Topic 820 for fair value measurements which clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows:


Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.


Level 2 - Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.


Level 3 - Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information.


The carrying amounts reported in the condensed consolidated balance sheets for cash and cash equivalents, accounts receivable, prepaid expenses and other receivables, short-term bank loans, convertible notes payable, note payable, accounts payable, accrued liabilities, amount due to a related party and income taxes payable approximate their fair market value based on the short-term maturity of these instruments.


ASC Topic 825-10 “Financial Instruments” allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable, unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company did not elect to apply the fair value option to any outstanding instruments.


The following table presents information about the Company’s assets and liabilities that were measured at fair value as of March 31, 2020 and December 31, 2019, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.


   March 31,   Quoted
Prices In
Active Markets
   Significant
Other
Observable
Inputs
   Significant
Other
Unobservable
Inputs
 
Description  2020   (Level 1)   (Level 2)   (Level 3) 
Assets:                
Marketable securities, available-for-sale  $2,531,283   $2,531,283   $   $ 
                     
   December 31,   Quoted
Prices In
Active Markets
   Significant
Other
Observable
Inputs
   Significant
Other
Unobservable
Inputs
 
Description  2019   (Level 1)   (Level 2)   (Level 3) 
Assets:                
Marketable securities, available-for-sale  $4,532,296   $4,532,296   $        –   $       – 

As of March 31, 2020 and December 31, 2019, the Company did not have any nonfinancial assets and liabilities that are recognized or disclosed at fair value in the financial statements, at least annually, on a recurring basis, nor did the Company have any assets or liabilities measured at fair value on a non-recurring basis.


Concentrations of Credit Risk


The Company’s operations are carried out in Hong Kong. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environment in Hong Kong. The Company’s operations in Hong Kong are subject to specific considerations and significant risks not typically associated with companies in North America. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.


Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and trade accounts receivable. Substantially all of the Company’s cash is maintained with state-owned banks within the Hong Kong, and none of these deposits are covered by insurance. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts. A significant portion of the Company’s sales are credit sales which are primarily to customers whose ability to pay is dependent upon the industry economics prevailing in these areas; however, concentrations of credit risk with respect to trade accounts receivables is limited due to generally short payment terms. The Company also performs ongoing credit evaluations of its customers to help further reduce credit risk.


Accounts Receivable


Accounts receivable are presented net of an allowance for doubtful accounts. The Company maintains allowances for doubtful accounts for estimated losses. The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances, the Company considers many factors, including the age of the balance, a customer’s historical payment history, its current credit-worthiness and current economic trends. Accounts are written off after exhaustive efforts at collection. At March 31, 2020 and December 31, 2019, the Company has established, based on a review of its outstanding balances, an allowance for doubtful accounts in the amounts of $0 and $48,952, respectively. 


Property and Equipment


Property and equipment are carried at cost and are depreciated on a straight-line basis over the estimated useful lives of the assets. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in the statements of operations in the year of disposition. The Company examines the possibility of decreases in the value of fixed assets when events or changes in circumstances reflect the fact that their recorded value may not be recoverable. Impairment loss has been recorded in current period.


    Useful life
Office equipment and furniture   5 years
Vehicles   5 years
Vessels   5 years

Depreciation expense from continuing operations for the three months ended March 31, 2020 and 2019 amounted to $33,842 and $6,245, respectively.


Depreciation expense from discontinued operations for the three months ended March 31, 2020 and 2019 amounted to $0 and $689,286, respectively.


Impairment of long-lived assets and intangible assets


In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. At March 31, 2020 and December 31, 2019, the Company conducted an impairment assessment on property, equipment and intangible asset based on the guidelines established in ASC Topic 360 to determine the estimated fair market value of property, equipment and intangible asset as of March 31, 2020 and December 31, 2019. Such analysis considered future use of such equipment, consultation with equipment resellers, subsequent sales of price of equipment held for sale, and other industry factors. Upon completion of the annual impairment analysis, the Company recorded impairment charges on long-lived assets of $0 and $13,586,059, for the three months ended March 31, 2020 and 2019, in relation to its discontinued operations.


Revenue recognition


In May 2014, FASB issued an update Accounting Standards Update (“ASU”) (“ASU 2014-09”) establishing Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”). ASU 2014-09, as amended by subsequent ASUs on the topic, establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance. This standard, which is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2017, requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also requires certain additional disclosures. The Company adopted this standard in 2018 using the modified retrospective approach, which requires applying the new standard to all existing contracts not yet completed as of the effective date and recording a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. Based on an evaluation of the impact ASU 2014-09 will have on the Company’s sources of revenue, the Company has concluded that ASU 2014-09 did not have a material impact on the process for, timing of, and presentation and disclosure of revenue recognition from customers.


Continuing operations


The Company derives its revenues from the sale of licence and advertising right and in a term of certain periods. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements:


  identify the contract with a customer;
  identify the performance obligations in the contract;
  determine the transaction price;
  allocate the transaction price to performance obligations in the contract; and
  recognize revenue as the performance obligation is satisfied.

Discontinued operations


The Company recognizes revenues from the sale of equipment upon shipment and transfer of title. The other elements may include installation and, generally, a one-year warranty. Equipment installation revenue is valued based on estimated service person hours to complete installation and is recognized when the labor has been completed and the equipment has been accepted by the customer, which is generally within a couple days of the delivery of the equipment. Warranty revenue is valued based on estimated service person hours to complete a service and generally is recognized over the contract period.


All other product sales with customer specific acceptance provisions are recognized upon customer acceptance and the delivery of the parts or service. Revenues related to spare part sales are recognized upon shipment or delivery based on the trade terms.


Stock-Based Compensation


Stock-based compensation is accounted for based on the requirements of the Share-Based Payment topic of ASC Topic 718, which requires recognition in the financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the vesting period or immediately if fully vested and non-forfeitable. The Financial Accounting Standards Board (“FASB”) also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award.


Foreign Currency Translation


The reporting currency of the Company is the U.S. dollar. The functional currency of the parent company is the U.S. dollar and the functional currency of the Company’s operating subsidiaries is the Chinese Renminbi (“RMB”) or Hong Kong dollars (HKD). For the subsidiaries and affiliates, whose functional currencies are the RMB or HKD, results of operations and cash flows are translated at average exchange rates during the period, assets and liabilities are translated at the unified exchange rate at the end of the period, and equity is translated at historical exchange rates. As a result, amounts relating to assets and liabilities reported on the statements of cash flows may not necessarily agree with the changes in the corresponding balances on the balance sheets. Translation adjustments resulting from the process of translating the local currency financial statements into U.S. dollars are included in determining comprehensive loss. The cumulative translation adjustment and effect of exchange rate changes on cash for the three months ended March 31, 2020 and 2019 was $19,919 and $169,449, respectively.


The Company did not enter into any material transaction in foreign currencies. Transaction gains or losses have not had, and are not expected to have, a material effect on the results of operations of the Company.


Translation of amounts from RMB and HK$ into US$ has been made at the following exchange rates for the period ended March 31, 2020 and 2019:


   March 31, 2020   March 31, 2019 
Period-end RMB:US$ exchange rate   7.1363    6.7112 
Period average RMB:US$ exchange rate   6.8609    6.7447 
Period-end HK$:US$ exchange rate   7.7872    7.8498 
Period average HK$:US$ exchange rate   7.8000    7.8000 

Loss Per Share of Common Stock


Basic net loss per share is computed by dividing net loss available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. The Company did not have any common stock equivalents or potentially dilutive common stock outstanding during the three months ended March 31, 2020 and 2019. In a period in which the Company has a net loss, all potentially dilutive securities are excluded from the computation of diluted shares outstanding as they would have had an anti-dilutive impact. 


The following table presents a reconciliation of basic and diluted net loss per share:


   Three months ended
March 31,
 
   2020   2019 
Net Loss for basic and diluted attributable to common shareholders  $(274,058)  $(24,720,429)
From continuing operations   (274,058)   (2,118,784)
From discontinued operations  $-   $(22,601,645)
           
Weighted average common stock outstanding – basic and diluted   199,418,592    8,118,610 
           
Net loss per share of common stock          
From continuing operations – basic and diluted  $(0.00)  $(0.28)
From discontinued operations – basic and diluted        (2.78)
Net loss per common share – basic and diluted  $(0.00)  $(3.06)

Comprehensive Loss


Comprehensive loss is comprised of net loss and all changes to the statements of stockholders’ equity, except those due to investments by stockholders, changes in paid-in capital and distributions to stockholders. For the Company, comprehensive loss income for the three months ended March 31, 2020 and 2019 included net loss, unrealized loss from fair value change of marketable securities and unrealized gain from foreign currency translation adjustments.

Concentrations of Credit Risk

Concentrations of Credit Risk


The Company’s operations are carried out in Hong Kong. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environment in Hong Kong. The Company’s operations in Hong Kong are subject to specific considerations and significant risks not typically associated with companies in North America. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.


Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and trade accounts receivable. Substantially all of the Company’s cash is maintained with state-owned banks within the Hong Kong, and none of these deposits are covered by insurance. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts. A significant portion of the Company’s sales are credit sales which are primarily to customers whose ability to pay is dependent upon the industry economics prevailing in these areas; however, concentrations of credit risk with respect to trade accounts receivables is limited due to generally short payment terms. The Company also performs ongoing credit evaluations of its customers to help further reduce credit risk.

Accounts Receivable

Accounts Receivable


Accounts receivable are presented net of an allowance for doubtful accounts. The Company maintains allowances for doubtful accounts for estimated losses. The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances, the Company considers many factors, including the age of the balance, a customer’s historical payment history, its current credit-worthiness and current economic trends. Accounts are written off after exhaustive efforts at collection. At March 31, 2020 and December 31, 2019, the Company has established, based on a review of its outstanding balances, an allowance for doubtful accounts in the amounts of $0 and $48,952, respectively.

Property and Equipment

Property and Equipment


Property and equipment are carried at cost and are depreciated on a straight-line basis over the estimated useful lives of the assets. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in the statements of operations in the year of disposition. The Company examines the possibility of decreases in the value of fixed assets when events or changes in circumstances reflect the fact that their recorded value may not be recoverable. Impairment loss has been recorded in current period.


    Useful life
Office equipment and furniture   5 years
Vehicles   5 years
Vessels   5 years

Depreciation expense from continuing operations for the three months ended March 31, 2020 and 2019 amounted to $33,842 and $6,245, respectively.


Depreciation expense from discontinued operations for the three months ended March 31, 2020 and 2019 amounted to $0 and $689,286, respectively.

Impairment of long-lived assets and intangible assets

Impairment of long-lived assets and intangible assets


In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. At March 31, 2020 and December 31, 2019, the Company conducted an impairment assessment on property, equipment and intangible asset based on the guidelines established in ASC Topic 360 to determine the estimated fair market value of property, equipment and intangible asset as of March 31, 2020 and December 31, 2019. Such analysis considered future use of such equipment, consultation with equipment resellers, subsequent sales of price of equipment held for sale, and other industry factors. Upon completion of the annual impairment analysis, the Company recorded impairment charges on long-lived assets of $0 and $13,586,059, for the three months ended March 31, 2020 and 2019, in relation to its discontinued operations.

Revenue recognition

Revenue recognition


In May 2014, FASB issued an update Accounting Standards Update (“ASU”) (“ASU 2014-09”) establishing Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”). ASU 2014-09, as amended by subsequent ASUs on the topic, establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance. This standard, which is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2017, requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also requires certain additional disclosures. The Company adopted this standard in 2018 using the modified retrospective approach, which requires applying the new standard to all existing contracts not yet completed as of the effective date and recording a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. Based on an evaluation of the impact ASU 2014-09 will have on the Company’s sources of revenue, the Company has concluded that ASU 2014-09 did not have a material impact on the process for, timing of, and presentation and disclosure of revenue recognition from customers.


Continuing operations


The Company derives its revenues from the sale of licence and advertising right and in a term of certain periods. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements:


  identify the contract with a customer;
  identify the performance obligations in the contract;
  determine the transaction price;
  allocate the transaction price to performance obligations in the contract; and
  recognize revenue as the performance obligation is satisfied.

Discontinued operations


The Company recognizes revenues from the sale of equipment upon shipment and transfer of title. The other elements may include installation and, generally, a one-year warranty. Equipment installation revenue is valued based on estimated service person hours to complete installation and is recognized when the labor has been completed and the equipment has been accepted by the customer, which is generally within a couple days of the delivery of the equipment. Warranty revenue is valued based on estimated service person hours to complete a service and generally is recognized over the contract period.


All other product sales with customer specific acceptance provisions are recognized upon customer acceptance and the delivery of the parts or service. Revenues related to spare part sales are recognized upon shipment or delivery based on the trade terms.

Stock-Based Compensation

Stock-Based Compensation


Stock-based compensation is accounted for based on the requirements of the Share-Based Payment topic of ASC Topic 718, which requires recognition in the financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the vesting period or immediately if fully vested and non-forfeitable. The Financial Accounting Standards Board (“FASB”) also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award.

Foreign Currency Translation

Foreign Currency Translation


The reporting currency of the Company is the U.S. dollar. The functional currency of the parent company is the U.S. dollar and the functional currency of the Company’s operating subsidiaries is the Chinese Renminbi (“RMB”) or Hong Kong dollars (HKD). For the subsidiaries and affiliates, whose functional currencies are the RMB or HKD, results of operations and cash flows are translated at average exchange rates during the period, assets and liabilities are translated at the unified exchange rate at the end of the period, and equity is translated at historical exchange rates. As a result, amounts relating to assets and liabilities reported on the statements of cash flows may not necessarily agree with the changes in the corresponding balances on the balance sheets. Translation adjustments resulting from the process of translating the local currency financial statements into U.S. dollars are included in determining comprehensive loss. The cumulative translation adjustment and effect of exchange rate changes on cash for the three months ended March 31, 2020 and 2019 was $19,919 and $169,449, respectively.


The Company did not enter into any material transaction in foreign currencies. Transaction gains or losses have not had, and are not expected to have, a material effect on the results of operations of the Company.


Translation of amounts from RMB and HK$ into US$ has been made at the following exchange rates for the period ended March 31, 2020 and 2019:

Loss Per Share of Common Stock

Loss Per Share of Common Stock


Basic net loss per share is computed by dividing net loss available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. The Company did not have any common stock equivalents or potentially dilutive common stock outstanding during the three months ended March 31, 2020 and 2019. In a period in which the Company has a net loss, all potentially dilutive securities are excluded from the computation of diluted shares outstanding as they would have had an anti-dilutive impact. 


The following table presents a reconciliation of basic and diluted net loss per share:

Comprehensive Loss

Comprehensive Loss


Comprehensive loss is comprised of net loss and all changes to the statements of stockholders’ equity, except those due to investments by stockholders, changes in paid-in capital and distributions to stockholders.

Reclassification

Reclassification


Certain reclassifications have been made in prior period’s consolidated financial statements to conform to the current year’s financial presentation. The reclassifications have no effect on previously reported net loss.

Recent Accounting Pronouncements

Recent Accounting Pronouncements


In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”. Under ASU 2016-02, lessees will be required to recognize all leases (with the exception of short-term leases) at the commencement date including a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use (ROU) asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Leases with a term of twelve months or less will be accounted for similar to existing guidance for operating leases. In December 2017, January 2018, July 2018, December 2018 and March 2020, the FASB issued ASU 2017-13, ASU 2018-01, ASU 2018-10 & 11, ASU 2018-20 and ASU 2019-01, respectively, which contain modifications and improvements to ASU 2016-02. The amendments provide entities with an additional (and optional) transition method to adopt the new leases standard. Under the Optional Transition Method, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. On January 1, 2019, the Company adopted ASC Topic 842 using the modified retrospective approach and elected to utilize the Optional Transition Method. In addition, the Company elected the land easement transition practical expedient and did not reassess whether an existing or expired land easement is a lease or contains a lease if it has not historically been accounted for as a lease. The adoption did not impact the Company’s previously reported consolidated financial statements nor did it result in a cumulative effect adjustment to retained earnings as of January 1, 2019. 


In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment. ASU 2018-07 aligns the accounting for share based payments granted to non-employees with that of share based payments granted to employees. The Company early adopted ASU No. 2018-07 in the fourth quarter of 2018 and there was no cumulative effect of adoption. The adoption of this ASU did not have a material impact on our financial position, results of operations, cash flows, or presentation thereof.

XML 28 R18.htm IDEA: XBRL DOCUMENT v3.20.2
Description of Business and Organization (Tables)
3 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
Schedule of assets and liabilities measured at fair value
   March 31,   Quoted
Prices In
Active Markets
   Significant
Other
Observable
Inputs
   Significant
Other
Unobservable
Inputs
 
Description  2020   (Level 1)   (Level 2)   (Level 3) 
Assets:                
Marketable securities, available-for-sale  $2,531,283   $2,531,283   $   $ 
                     
   December 31,   Quoted
Prices In
Active Markets
   Significant
Other
Observable
Inputs
   Significant
Other
Unobservable
Inputs
 
Description  2019   (Level 1)   (Level 2)   (Level 3) 
Assets:                
Marketable securities, available-for-sale  $4,532,296   $4,532,296   $        –   $       – 
Schedule of property plant and equipment
    Useful life
Office equipment and furniture   5 years
Vehicles   5 years
Vessels   5 years
Schedule of translation exchange rate
   March 31, 2020   March 31, 2019 
Period-end RMB:US$ exchange rate   7.1363    6.7112 
Period average RMB:US$ exchange rate   6.8609    6.7447 
Period-end HK$:US$ exchange rate   7.7872    7.8498 
Period average HK$:US$ exchange rate   7.8000    7.8000 
Schedule of reconciliation of basic and diluted net loss per share
   Three months ended
March 31,
 
   2020   2019 
Net Loss for basic and diluted attributable to common shareholders  $(274,058)  $(24,720,429)
From continuing operations   (274,058)   (2,118,784)
From discontinued operations  $-   $(22,601,645)
           
Weighted average common stock outstanding – basic and diluted   199,418,592    8,118,610 
           
Net loss per share of common stock          
From continuing operations – basic and diluted  $(0.00)  $(0.28)
From discontinued operations – basic and diluted        (2.78)
Net loss per common share – basic and diluted  $(0.00)  $(3.06)
XML 29 R19.htm IDEA: XBRL DOCUMENT v3.20.2
Discontinued Operations (Tables)
3 Months Ended
Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Variable Interest Entities [Table Text Block]
   Three months ended
March 31,
 
   2020   2019 
Revenues  $-   $1,887,265 
Cost of revenues   -    (5,699,420)
Gross loss   -    (3,812,155)
Operating income:          
Other operating expense   -    (18,746,856)
Total operating expense   -    (18,746,856)
Other expense, net   -    (42,634)
Loss from discontinued operations, net of income taxes  $-   $(22,601,645)
XML 30 R20.htm IDEA: XBRL DOCUMENT v3.20.2
Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets [Table Text Block]
   Useful life  March 31, 2020   December 31, 2019 
      (Unaudited)   (Audited) 
            
Other intangible assets  3 – 5 years   843,817    843,817 
Redemption code  5 years   750,000    750,000 
Goodwill  infinite   27,353    27,353 
       1,621,170    1,621,170 
Less: accumulated amortization      (563,225)   (512,763)
      $1,057,945   $1,108,407 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
Year ending March 31:  Amount 
2021  $419,317 
2022   140,353 
2023   167,932 
2024   152,988 
2025   150,000 
   $1,030,590 
XML 31 R21.htm IDEA: XBRL DOCUMENT v3.20.2
Short-Term Bank Loans (Tables)
3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Schedule of Short-term Debt [Table Text Block]
   March 31,
2020
   December 31,
2019
 
   (Unaudited)   (Audited) 
Mortgage loan  $5,069,557   $5,098,796 
Line of revolving loan   4,558,749    4,558,749 
Short-term bank loans   -    1,195,297 
           
Total bank loans   9,628,306    10,852,842 
Less: Total bank loans – discontinued operations   -    (1,195,297)
Total bank loans – continuing operations  $9,628,306   $9,657,545 
           
Reclassifying as:          
Current portion  $4,683,873   $4,676,184 
Long-term portion (more than 12 months)   4,944,433    4,981,361 
           
Total bank loans  $9,628,306   $9,657,545 
XML 32 R22.htm IDEA: XBRL DOCUMENT v3.20.2
Convertible Note Payable (Tables)
3 Months Ended
Mar. 31, 2020
Convertible Note Payable [Abstract]  
Convertible Debt [Table Text Block]
   March 31,
2020
   December 31,
2019
 
   (Unaudited)   (Audited) 
Principal  $838,571   $838,571 
Unamortized discount   -    - 
Convertible debt, net  $838,571   $838,571 
XML 33 R23.htm IDEA: XBRL DOCUMENT v3.20.2
Description of Business and Organization (Details) - USD ($)
1 Months Ended 3 Months Ended
Mar. 24, 2020
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Jan. 30, 2018
Jan. 19, 2018
Dec. 08, 2017
Description of Business and Organization (Details) [Line Items]              
Total consideration amount $ 8,251            
Loss on disposal $ 70,901            
Loss from continuing operations   $ (676,642) $ (2,320,852)        
Accumulated deficit   (66,574,745)   $ (66,300,687)      
Net Cash Provided by (Used in) Operating Activities, Continuing Operations   (365,392) (134,697)        
Allowance for doubtful accounts   0   $ 48,952      
Depreciation expense from continuing operations   33,842 6,245        
Depreciation expense from discontinued operations   0 689,286        
Impairment charges on long-lived assets   0 13,586,059        
Cumulative translation adjustment and effect of exchange rate changes on cash   $ 19,919 $ 169,449        
AnyWorkspace Limited [Member]              
Description of Business and Organization (Details) [Line Items]              
Percentage of shareholding or ownership         80.00%    
Equity interest percentage 80.00%            
Inspirit Studio Limited [Member] | EC Technology [Member]              
Description of Business and Organization (Details) [Line Items]              
Percentage of shareholding or ownership             51.00%
3D Discovery Co. Limited [Member] | EC Technology [Member]              
Description of Business and Organization (Details) [Line Items]              
Percentage of shareholding or ownership           60.00%  
XML 34 R24.htm IDEA: XBRL DOCUMENT v3.20.2
Description of Business and Organization (Details) - Schedule of assets and liabilities measured at fair value - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Description of Business and Organization (Details) - Schedule of assets and liabilities measured at fair value [Line Items]    
Marketable securities, available-for-sale $ 2,531,283 $ 4,532,296
Quoted Prices In Active Markets (Level 1) [Member]    
Description of Business and Organization (Details) - Schedule of assets and liabilities measured at fair value [Line Items]    
Marketable securities, available-for-sale 2,531,283 4,532,296
Significant Other Observable Inputs (Level 2) [Member]    
Description of Business and Organization (Details) - Schedule of assets and liabilities measured at fair value [Line Items]    
Marketable securities, available-for-sale
Significant Other Unobservable Inputs (Level 3) [Member]    
Description of Business and Organization (Details) - Schedule of assets and liabilities measured at fair value [Line Items]    
Marketable securities, available-for-sale
XML 35 R25.htm IDEA: XBRL DOCUMENT v3.20.2
Description of Business and Organization (Details) - Schedule of property plant and equipment - Minimum [Member]
3 Months Ended
Mar. 31, 2020
Building and building improvements [Member]  
Property, Plant and Equipment [Line Items]  
Useful life 5 years
Vehicles [Member]  
Property, Plant and Equipment [Line Items]  
Useful life 5 years
Vessels [Member]  
Property, Plant and Equipment [Line Items]  
Useful life 5 years
XML 36 R26.htm IDEA: XBRL DOCUMENT v3.20.2
Description of Business and Organization (Details) - Schedule of translation exchange rate - USD ($)
Mar. 31, 2020
Mar. 31, 2019
Period-end RMB:US$ exchange rate [Member]    
Description of Business and Organization (Details) - Schedule of translation exchange rate [Line Items]    
Foreign Currency Translation Exchange Rates $ 7.1363 $ 6.7112
Period average RMB:US$ exchange rate [Member]    
Description of Business and Organization (Details) - Schedule of translation exchange rate [Line Items]    
Foreign Currency Translation Exchange Rates 6.8609 6.7447
Period-end HK$:US$ exchange rate [Member]    
Description of Business and Organization (Details) - Schedule of translation exchange rate [Line Items]    
Foreign Currency Translation Exchange Rates 7.7872 7.8498
Period average HK$:US$ exchange rate [Member]    
Description of Business and Organization (Details) - Schedule of translation exchange rate [Line Items]    
Foreign Currency Translation Exchange Rates $ 7.8000 $ 7.8000
XML 37 R27.htm IDEA: XBRL DOCUMENT v3.20.2
Description of Business and Organization (Details) - Schedule of reconciliation of basic and diluted net loss per share - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Schedule of reconciliation of basic and diluted net loss per share [Abstract]    
Net Loss for basic and diluted attributable to common shareholders $ (274,058) $ (24,720,429)
From continuing operations (676,642) (2,320,852)
From discontinued operations $ (22,601,645)
Weighted average common stock outstanding – basic and diluted (in Shares) 199,418,592 8,118,610
Net loss per share of common stock    
From continuing operations – basic and diluted (in Dollars per share) $ 0.00 $ (0.28)
From discontinued operations – basic and diluted (in Dollars per share)   (2.78)
Net loss per common share – basic and diluted (in Dollars per share) $ 0.00 $ (3.06)
XML 38 R28.htm IDEA: XBRL DOCUMENT v3.20.2
Discontinued Operations (Details)
Mar. 24, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Percentage of equity interest 80.00%
XML 39 R29.htm IDEA: XBRL DOCUMENT v3.20.2
Discontinued Operations (Details) - Schedule of carrying amount of the VIE's assets and liabilities included in the accompanying consolidated financial statements - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Schedule of carrying amount of the VIE's assets and liabilities included in the accompanying consolidated financial statements [Abstract]    
Revenues $ 1,887,265
Cost of revenues (5,699,420)
Gross loss (3,812,155)
Operating income:    
Other operating expense (18,746,856)
Total operating expense (18,746,856)
Other expense, net (42,634)
Loss from discontinued operations, net of income taxes $ (22,601,645)
XML 40 R30.htm IDEA: XBRL DOCUMENT v3.20.2
Intangible Assets (Details) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Intangible Assets (Details) [Line Items]    
Amortization of intangible assets $ 50,748 $ 67,723
Amortization of intangible assets from discontinued operations 0 689,286
Intangible Assets, Amortization [Member]    
Intangible Assets (Details) [Line Items]    
Amortization of intangible assets from discontinued operations $ 0 $ 20,882
XML 41 R31.htm IDEA: XBRL DOCUMENT v3.20.2
Intangible Assets (Details) - Schedule of intangible assets - USD ($)
3 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]    
Intangible assets, Gross $ 1,621,170 $ 1,621,170
Less: accumulated amortization (563,225) (512,763)
Intangible assets, net 1,057,945 1,108,407
Other Intangible Assets [Member]    
Finite-Lived Intangible Assets [Line Items]    
Intangible assets, Gross $ 843,817 843,817
Other Intangible Assets [Member] | Minimum [Member]    
Finite-Lived Intangible Assets [Line Items]    
Intangible assets, useful life 3 years  
Other Intangible Assets [Member] | Maximum [Member]    
Finite-Lived Intangible Assets [Line Items]    
Intangible assets, useful life 5 years  
Redemption code [Member]    
Finite-Lived Intangible Assets [Line Items]    
Intangible assets, useful life 5 years  
Intangible assets, Gross $ 750,000 750,000
Goodwill [Member]    
Finite-Lived Intangible Assets [Line Items]    
Intangible assets, Gross $ 27,353 $ 27,353
Intangible assets useful life, description infinite  
XML 42 R32.htm IDEA: XBRL DOCUMENT v3.20.2
Intangible Assets (Details) - Schedule of amortization of intangible assets attributable to future periods
Mar. 31, 2020
USD ($)
Schedule of amortization of intangible assets attributable to future periods [Abstract]  
2021 $ 419,317
2022 140,353
2023 167,932
2024 152,988
2025 150,000
Total $ 1,030,590
XML 43 R33.htm IDEA: XBRL DOCUMENT v3.20.2
Short-Term Bank Loans (Details) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Short-Term Bank Loans (Details) [Line Items]    
Bank loans due amount $ 5,069,557  
Terms of long term bank loans 30 years  
Interest rate 2.50%  
Revolving credit line $ 4,558,749  
Interest related to the short-term bank loans 95,831 $ 90,815
Interest related bank loans from discontinued operations $ 0 $ 41,998
Hong Kong [Member]    
Short-Term Bank Loans (Details) [Line Items]    
Interest rate 3.2625%  
XML 44 R34.htm IDEA: XBRL DOCUMENT v3.20.2
Short-Term Bank Loans (Details) - Schedule of bank loans - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Schedule of bank loans [Abstract]    
Mortgage loan $ 5,069,557 $ 5,098,796
Line of revolving loan 4,558,749 4,558,749
Short-term bank loans   1,195,297
Total bank loans 9,628,306 10,852,842
Less: Total bank loans – discontinued operations   (1,195,297)
Total bank loans – continuing operations 9,628,306 9,657,545
Current portion 4,683,873 4,676,184
Long-term portion (more than 12 months) 4,944,433 4,981,361
Total bank loans $ 9,628,306 $ 9,657,545
XML 45 R35.htm IDEA: XBRL DOCUMENT v3.20.2
Convertible Note Payable (Details) - USD ($)
1 Months Ended 3 Months Ended
Jan. 11, 2019
Nov. 08, 2018
May 02, 2018
Mar. 31, 2020
Dec. 31, 2019
Convertible Note Payable (Details) [Line Items]          
Original issue discount       $ 150,000  
Debt discount       45,018  
Converted into common stock share (in Shares) 266,667        
Fair value of the warrants issued       152,490  
Accrued interest       $ 85,803 $ 63,303
Iliad Note [Member]          
Convertible Note Payable (Details) [Line Items]          
Aggregate of outstanding principal amount $ 15,897 $ 27,811      
Debt accrued interest   $ 47,189      
Converted into common stock share (in Shares) 34,103 36,621      
Iliad Note [Member] | Convertible Debt [Member]          
Convertible Note Payable (Details) [Line Items]          
Term of warrants     2 years    
Warrants to purchase common stock (in Shares)     134,328    
Original issue discount     $ 150,000    
Debt discount     $ 45,018    
Due date description     The Iliad Note bears interest at 10% per annum, is unsecured, and is due on the date that is fifteen months from May 2, 2018.    
Redemption conversion price description     The conversion price for each Redemption Conversion (the “Redemption Conversion Price”) shall be the lesser of (a) the Lender Conversion Price, and (b) the Market Price; provided, however, in no event shall the Redemption Conversion Price be less than $2.00 per share (“Conversion Price Floor”) unless the Company waive the Conversion Price Floor.    
Iliad Note [Member] | Investor [Member]          
Convertible Note Payable (Details) [Line Items]          
Aggregate of outstanding principal amount     $ 900,000    
Warrants exercise price (in Dollars per share)     $ 7.18    
DebtInstrumentConvertibleConversionPrice1 (in Dollars per share)     $ 6.70    
XML 46 R36.htm IDEA: XBRL DOCUMENT v3.20.2
Convertible Note Payable (Details) - Schedule of convertible debt - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Schedule of convertible debt [Abstract]    
Principal $ 838,571 $ 838,571
Unamortized discount
Convertible debt, net $ 838,571 $ 838,571
XML 47 R37.htm IDEA: XBRL DOCUMENT v3.20.2
Related Party Transactions (Details) - USD ($)
3 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Related Party Transactions (Details) [Line Items]    
Amounts due to related party $ 377,389 $ 319,542
Ysk 1860 Co., Limited [Member]    
Related Party Transactions (Details) [Line Items]    
Provisional agreement for purchase and sale description From time to time, during 2019 and 2018, the Company receive advances from Chan Tin Chi Family Company Limited (formerly known as YSK 1860 Co., Limited), who is the major shareholder of the Company for working capital purposes. These advances are non-interest bearing and are payable on demand. During the three months ended March 31, 2020 and 2019, the Company received advances from Chan Tin Chi Family Company Limited for working capital totaled $310,493 and $820,061, respectively, and repaid to Chan Tin Chi Family Company Limited a total of $0 and $31,604, respectively. At March 31, 2020 and December 31, 2019, amounts due to Chan Tin Chi Family Company Limited amounted to $2,356,455 and $2,045,962, respectively.  
XML 48 R38.htm IDEA: XBRL DOCUMENT v3.20.2
Stockholders’ Deficit (Details) - $ / shares
1 Months Ended 3 Months Ended
Apr. 30, 2020
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Stockholders’ Deficit (Details) [Line Items]        
Increase decrease common stock shares authorized   7,450,000,000    
Common stock, par value (in Dollars per share)   $ 0.001   $ 0.001
Preferred stock, shares authorized   10,000,000   10,000,000
Common stock, shares authorized   7,400,000,000   7,400,000,000
Common Stock, Shares, Outstanding   199,418,592   199,418,592
Common Stock [Member]        
Stockholders’ Deficit (Details) [Line Items]        
Additional share of common stock     690,000  
Common Stock [Member] | Subsequent Event [Member]        
Stockholders’ Deficit (Details) [Line Items]        
Additional share of common stock 7,018,360,787      
Common Stock [Member] | Minimum [Member]        
Stockholders’ Deficit (Details) [Line Items]        
Increase decrease common stock shares authorized   250,000,000    
Common Stock [Member] | Maximum [Member]        
Stockholders’ Deficit (Details) [Line Items]        
Increase decrease common stock shares authorized   7,450,000,000    
XML 49 R39.htm IDEA: XBRL DOCUMENT v3.20.2
Concentrations (Details)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Customer [Member]    
Concentrations (Details) [Line Items]    
Concentration risk percentage 10.00% 10.00%
Vendors [Member]    
Concentrations (Details) [Line Items]    
Concentration risk percentage 10.00% 10.00%
XML 50 R40.htm IDEA: XBRL DOCUMENT v3.20.2
Commitment and Contingencies (Details)
1 Months Ended
Sep. 25, 2019
Apr. 25, 2019
Commitments and Contingencies Disclosure [Abstract]    
Commitments and contingencies, description   The claim is for a total compensation of HK$1,395,000 (approximately $178,846) which comprises of (i) HK$45,000 (approximately $5,769) as compensation for interest and administration cost incurred as a result of Dairy Farm’s delay in payment of EC Power’s share of the rental income, and (ii) HK$1,350,000 (approximately $173,077) as compensation for Dairy Farm’s early termination of the cooperation agreement without any valid proof of fault on the part of EC Power.
Legal proceedings, description Mr. Chan Tin Chi, and Ms. Deborah Yuen Wai Ming to fully settle an amount of approximately $241,706 and $103,841 to Mr. Berman and Mr. Israel, respectively representing the unpaid salary, benefits, expenses and incentive bonus. SEII intends to dispute these proceedings that the US Judgement is not enforceable under the Hong Kong jurisdiction.  
XML 51 R41.htm IDEA: XBRL DOCUMENT v3.20.2
Subsequent Events (Details) - USD ($)
1 Months Ended
Apr. 14, 2020
Apr. 08, 2020
Apr. 07, 2020
Apr. 05, 2020
Apr. 30, 2020
Apr. 21, 2020
Mar. 31, 2020
Dec. 31, 2019
Jan. 11, 2019
Nov. 08, 2018
Subsequent Events (Details) [Line Items]                    
Principal             $ 838,571 $ 838,571    
Accrued interest             $ 85,803 $ 63,303    
Stock Purchase Agreements [Member]                    
Subsequent Events (Details) [Line Items]                    
Principal amount                 $ 15,897 $ 27,811
Subsequent Event [Member]                    
Subsequent Events (Details) [Line Items]                    
Stock redeemed amount         $ 100,000          
Conversion of stock shares (in Shares)         502,955          
Outstanding balance of Iliad note         $ 1,269,464          
Purchase agreement, description       the Company and Oasis Capital, LLC (“Oasis”) entered into a Equity Purchase Agreement, Oasis shall purchase from the Company up to Four Million Dollars ($4,000,000) of the Company’s Common Stock, at 85% of Market Price. On April 15, 2020, 400,000 shares of Common Stock has issued by the Company to Oasis as Commitment Shares.            
Principal amount $ 110,000                  
Total investment $ 100,000                  
Price equal percentage 60.00%                  
Common Stock has issued by Stock Vest service fee (in Shares)           400,000        
Subsequent Event [Member] | Stock Purchase Agreements [Member]                    
Subsequent Events (Details) [Line Items]                    
Trading agreement, description     the Company and Power Up Lending Group Ltd., (“Power Up”) entered into a Securities Purchase Agreement, whereby the Company issued a note to Power Up (the “Power Up Note”) in the principal amount of $83,000 with additional tranches of up to $1,000,000 in the aggregate over the next twelve (12) months, subject to the discretion of both parties. The Power Up Note is a convertible into shares of the common stock of the Company at a price equal to 65% of the average of the two (2) lowest trading prices for the Company’s common stock during the twenty (20) trading day period ending on the latest complete trading day prior to the conversion date.              
Subsequent Event [Member] | Share Exchange Agreement [Member]                    
Subsequent Events (Details) [Line Items]                    
Description of lease agreement   On April 8, 2020, the Company and shareholder of OOB HK Media HK Limited (“OOB HK”) Entered into a Share Exchange Agreement, whereby the Company shall issue 239,387,189 shares of series A convertible preferred stock at a price of $0.33 per share, in exchange of 100% ownership of OOB HK, which owns 100% of Tone Rich (Shanghai) Limited that holds 69.6% of OOB Media (Sichuan) Company Limited, an advertising media technology and agency company.                
EXCEL 52 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 53 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 54 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 55 FilingSummary.xml IDEA: XBRL DOCUMENT 3.20.2 html 109 329 1 false 37 0 false 4 false false R1.htm 000 - Document - Document And Entity Information Sheet http://chinawindsystems.com/role/DocumentAndEntityInformation Document And Entity Information Cover 1 false false R2.htm 001 - Statement - Condensed Consolidated Balance Sheets Sheet http://chinawindsystems.com/role/ConsolidatedBalanceSheet Condensed Consolidated Balance Sheets Statements 2 false false R3.htm 002 - Statement - Condensed Consolidated Balance Sheets (Parentheticals) Sheet http://chinawindsystems.com/role/ConsolidatedBalanceSheet_Parentheticals Condensed Consolidated Balance Sheets (Parentheticals) Statements 3 false false R4.htm 003 - Statement - Condensed Consolidated Statements 0f Operations and Comprehensive Loss (Unaudited) Sheet http://chinawindsystems.com/role/ConsolidatedIncomeStatement Condensed Consolidated Statements 0f Operations and Comprehensive Loss (Unaudited) Statements 4 false false R5.htm 004 - Statement - Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) Sheet http://chinawindsystems.com/role/ShareholdersEquityType2or3 Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) Statements 5 false false R6.htm 005 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) Sheet http://chinawindsystems.com/role/ConsolidatedCashFlow Condensed Consolidated Statements of Cash Flows (Unaudited) Statements 6 false false R7.htm 006 - Disclosure - Description of Business and Organization Sheet http://chinawindsystems.com/role/DescriptionofBusinessandOrganization Description of Business and Organization Notes 7 false false R8.htm 007 - Disclosure - Discontinued Operations Sheet http://chinawindsystems.com/role/DiscontinuedOperations Discontinued Operations Notes 8 false false R9.htm 008 - Disclosure - Intangible Assets Sheet http://chinawindsystems.com/role/IntangibleAssets Intangible Assets Notes 9 false false R10.htm 009 - Disclosure - Short-Term Bank Loans Sheet http://chinawindsystems.com/role/ShortTermBankLoans Short-Term Bank Loans Notes 10 false false R11.htm 010 - Disclosure - Convertible Note Payable Sheet http://chinawindsystems.com/role/ConvertibleNotePayable Convertible Note Payable Notes 11 false false R12.htm 011 - Disclosure - Related Party Transactions Sheet http://chinawindsystems.com/role/RelatedPartyTransactions Related Party Transactions Notes 12 false false R13.htm 012 - Disclosure - Stockholders??? Deficit Sheet http://chinawindsystems.com/role/StockholdersDeficit Stockholders??? Deficit Notes 13 false false R14.htm 013 - Disclosure - Concentrations Sheet http://chinawindsystems.com/role/Concentrations Concentrations Notes 14 false false R15.htm 014 - Disclosure - Commitment and Contingencies Sheet http://chinawindsystems.com/role/CommitmentandContingencies Commitment and Contingencies Notes 15 false false R16.htm 015 - Disclosure - Subsequent Events Sheet http://chinawindsystems.com/role/SubsequentEvents Subsequent Events Notes 16 false false R17.htm 016 - Disclosure - Accounting Policies, by Policy (Policies) Sheet http://chinawindsystems.com/role/AccountingPoliciesByPolicy Accounting Policies, by Policy (Policies) Policies 17 false false R18.htm 017 - Disclosure - Description of Business and Organization (Tables) Sheet http://chinawindsystems.com/role/DescriptionofBusinessandOrganizationTables Description of Business and Organization (Tables) Tables http://chinawindsystems.com/role/DescriptionofBusinessandOrganization 18 false false R19.htm 018 - Disclosure - Discontinued Operations (Tables) Sheet http://chinawindsystems.com/role/DiscontinuedOperationsTables Discontinued Operations (Tables) Tables http://chinawindsystems.com/role/DiscontinuedOperations 19 false false R20.htm 019 - Disclosure - Intangible Assets (Tables) Sheet http://chinawindsystems.com/role/IntangibleAssetsTables Intangible Assets (Tables) Tables http://chinawindsystems.com/role/IntangibleAssets 20 false false R21.htm 020 - Disclosure - Short-Term Bank Loans (Tables) Sheet http://chinawindsystems.com/role/ShortTermBankLoansTables Short-Term Bank Loans (Tables) Tables http://chinawindsystems.com/role/ShortTermBankLoans 21 false false R22.htm 021 - Disclosure - Convertible Note Payable (Tables) Sheet http://chinawindsystems.com/role/ConvertibleNotePayableTables Convertible Note Payable (Tables) Tables http://chinawindsystems.com/role/ConvertibleNotePayable 22 false false R23.htm 022 - Disclosure - Description of Business and Organization (Details) Sheet http://chinawindsystems.com/role/DescriptionofBusinessandOrganizationDetails Description of Business and Organization (Details) Details http://chinawindsystems.com/role/DescriptionofBusinessandOrganizationTables 23 false false R24.htm 023 - Disclosure - Description of Business and Organization (Details) - Schedule of assets and liabilities measured at fair value Sheet http://chinawindsystems.com/role/ScheduleofassetsandliabilitiesmeasuredatfairvalueTable Description of Business and Organization (Details) - Schedule of assets and liabilities measured at fair value Details http://chinawindsystems.com/role/DescriptionofBusinessandOrganizationTables 24 false false R25.htm 024 - Disclosure - Description of Business and Organization (Details) - Schedule of property plant and equipment Sheet http://chinawindsystems.com/role/ScheduleofpropertyplantandequipmentTable Description of Business and Organization (Details) - Schedule of property plant and equipment Details http://chinawindsystems.com/role/DescriptionofBusinessandOrganizationTables 25 false false R26.htm 025 - Disclosure - Description of Business and Organization (Details) - Schedule of translation exchange rate Sheet http://chinawindsystems.com/role/ScheduleoftranslationexchangerateTable Description of Business and Organization (Details) - Schedule of translation exchange rate Details http://chinawindsystems.com/role/DescriptionofBusinessandOrganizationTables 26 false false R27.htm 026 - Disclosure - Description of Business and Organization (Details) - Schedule of reconciliation of basic and diluted net loss per share Sheet http://chinawindsystems.com/role/ScheduleofreconciliationofbasicanddilutednetlosspershareTable Description of Business and Organization (Details) - Schedule of reconciliation of basic and diluted net loss per share Details http://chinawindsystems.com/role/DescriptionofBusinessandOrganizationTables 27 false false R28.htm 027 - Disclosure - Discontinued Operations (Details) Sheet http://chinawindsystems.com/role/DiscontinuedOperationsDetails Discontinued Operations (Details) Details http://chinawindsystems.com/role/DiscontinuedOperationsTables 28 false false R29.htm 028 - Disclosure - Discontinued Operations (Details) - Schedule of carrying amount of the VIE's assets and liabilities included in the accompanying consolidated financial statements Sheet http://chinawindsystems.com/role/ScheduleofcarryingamountoftheVIEsassetsandliabilitiesincludedintheaccompanyingconsolidatedfinancialstatementsTable Discontinued Operations (Details) - Schedule of carrying amount of the VIE's assets and liabilities included in the accompanying consolidated financial statements Details http://chinawindsystems.com/role/DiscontinuedOperationsTables 29 false false R30.htm 029 - Disclosure - Intangible Assets (Details) Sheet http://chinawindsystems.com/role/IntangibleAssetsDetails Intangible Assets (Details) Details http://chinawindsystems.com/role/IntangibleAssetsTables 30 false false R31.htm 030 - Disclosure - Intangible Assets (Details) - Schedule of intangible assets Sheet http://chinawindsystems.com/role/ScheduleofintangibleassetsTable Intangible Assets (Details) - Schedule of intangible assets Details http://chinawindsystems.com/role/IntangibleAssetsTables 31 false false R32.htm 031 - Disclosure - Intangible Assets (Details) - Schedule of amortization of intangible assets attributable to future periods Sheet http://chinawindsystems.com/role/ScheduleofamortizationofintangibleassetsattributabletofutureperiodsTable Intangible Assets (Details) - Schedule of amortization of intangible assets attributable to future periods Details http://chinawindsystems.com/role/IntangibleAssetsTables 32 false false R33.htm 032 - Disclosure - Short-Term Bank Loans (Details) Sheet http://chinawindsystems.com/role/ShortTermBankLoansDetails Short-Term Bank Loans (Details) Details http://chinawindsystems.com/role/ShortTermBankLoansTables 33 false false R34.htm 033 - Disclosure - Short-Term Bank Loans (Details) - Schedule of bank loans Sheet http://chinawindsystems.com/role/ScheduleofbankloansTable Short-Term Bank Loans (Details) - Schedule of bank loans Details http://chinawindsystems.com/role/ShortTermBankLoansTables 34 false false R35.htm 034 - Disclosure - Convertible Note Payable (Details) Sheet http://chinawindsystems.com/role/ConvertibleNotePayableDetails Convertible Note Payable (Details) Details http://chinawindsystems.com/role/ConvertibleNotePayableTables 35 false false R36.htm 035 - Disclosure - Convertible Note Payable (Details) - Schedule of convertible debt Sheet http://chinawindsystems.com/role/ScheduleofconvertibledebtTable Convertible Note Payable (Details) - Schedule of convertible debt Details http://chinawindsystems.com/role/ConvertibleNotePayableTables 36 false false R37.htm 036 - Disclosure - Related Party Transactions (Details) Sheet http://chinawindsystems.com/role/RelatedPartyTransactionsDetails Related Party Transactions (Details) Details http://chinawindsystems.com/role/RelatedPartyTransactions 37 false false R38.htm 037 - Disclosure - Stockholders??? Deficit (Details) Sheet http://chinawindsystems.com/role/StockholdersDeficitDetails Stockholders??? Deficit (Details) Details http://chinawindsystems.com/role/StockholdersDeficit 38 false false R39.htm 038 - Disclosure - Concentrations (Details) Sheet http://chinawindsystems.com/role/ConcentrationsDetails Concentrations (Details) Details http://chinawindsystems.com/role/Concentrations 39 false false R40.htm 039 - Disclosure - Commitment and Contingencies (Details) Sheet http://chinawindsystems.com/role/CommitmentandContingenciesDetails Commitment and Contingencies (Details) Details http://chinawindsystems.com/role/CommitmentandContingencies 40 false false R41.htm 040 - Disclosure - Subsequent Events (Details) Sheet http://chinawindsystems.com/role/SubsequentEventsDetails Subsequent Events (Details) Details http://chinawindsystems.com/role/SubsequentEvents 41 false false All Reports Book All Reports seii-20200331.xml seii-20200331.xsd seii-20200331_cal.xml seii-20200331_def.xml seii-20200331_lab.xml seii-20200331_pre.xml http://xbrl.sec.gov/dei/2019-01-31 http://fasb.org/srt/2020-01-31 http://xbrl.sec.gov/country/2020-01-31 http://fasb.org/us-gaap/2020-01-31 true true ZIP 57 0001213900-20-024480-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001213900-20-024480-xbrl.zip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

  •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

    Y!%?(GGC=M*JC MJ>2F@BW#.\[UU]NF,"S7U0J;5$\B'/")U0CF,_'Y9,)@CF!V CNF8 M[[LX&PAS<]X0><_MU=MTLFLTQMX"#K&Q>C2DS]W&8\M"27:%RV6PX+*2^]XI> M"[[_?K#[."[;%U[IR]E9I?6A.!R?U#Z7ADZ+MJ_ X3ZYOVV!T2?_[M ;?>O8 M8._CT34X*3[XMP>]5M5W)@R\V3W?N[QIWCSLNQ_P >A_QFAX M?7AX((/JJ-2J?7L_[CV.]AZO+U'EI/D>0_O@$+M'U6[]0[U^=0\/1^>77\/3XU6.[DT%Q4BY_VSW!/OC+!U_O2I/:::5[ZMU4)K7#2K-R]&UXS@/56O=3F\D MRF[6N$:$")Y ##553F2D-LGU3WM(MSB)!(JF8ZD$2<9C7UE8?UJWQ#=/P'CY.G:^"[<0/6&H-O2<(VTJ5%F?"".C!Z@\ 1PQL7NCF_M N:$T>4S MT[&XUN;!>-I&_7I;'P?)I5:;VU-Q>6@0M_G8XVK71WY?OTF-(_H#PIQ"TI([ MHC-F$RCD"E2'TS\;>.%B?4V)@02B/R"N*22M\+[I6&H+%_1O#=I%NC^(_UU/ MUB&XAVJV'E*:D3[1;:]@"?F?92W+I!\"?Z1E52]<7;\=K!>)_A0(+TEZEDLH MJ4AY_CK2OT5PUSGW7R['E(\4AUK/7]?=;K05H?LSN.0E6<\@5G(28)ED^%G> MF>&(_3SO=@!/Q8GQ5E?M.I .D)E62.K&&JL-9BL++R?#+.F$WDA_5'="I>,E MMOBE10\V8^B%N(?8AJC-D%#[71S)5*8W1^6I\IB6HVP)?4[-AM )R[\#PH#; M[%1EH:XDMY\X2#[MV9I8/R7ZDV6V;,(VNKXN-?MFU?+EP+R&VTJM)%MP6S&\ MF'5;Z1G*H]M*J1@;(K$5MW6&,,!VGMQ66HXR6\70"L_:4F:?A19E&DUMA5)R M^;1[:^K$0CNA7+8JOSE7=8:<1RCH1#Z.FR[JD/TVKSG0#'BLEI'23KPHY.)3 M>()DLU-[_D:>[D453_0' G,-22NX0#-0G=M9'XKXXL&SZH0:E:YQ)VF,/'KV MK$LM45Y*;]=,S[Q9O_UR_-L:<7UJ%=E"7!_#B]FX/CU#+V3UIXWKUT!";5PO MF!'_B2]8#8$+@_H(\RBRPZ-*5>S,/XB\>0TI(LYRECWLRSX=V\&!]EMNT$X[ M'6CK.=ZYW1F8KH6: 2Q;GCV7UX_E5H"Q:8&$6/N7 )/LKY(>]*<&W("E9B?* M9A.'2]<"2?D):>E3X;5&0;'/&A*#_#U!+ P04 M" !U6Q]1"NM)I#8U !$,P, %0 '-E:6DM,C R,# S,S%?9&5F+GAM;.U] M:W/9D@.<26:&"KZC+C__]N/ /5CB*O3#XZ<6K;UZ^ M.,"!$[I>,/OIQ,=W$4HB*=AM#CX?\GB_Q\<'LR39/G#T='#P\,W#OF;V/$B'(=IY."8_N+@ M\) ,6 XYCC =\(>##V%P,$IG!Z]?';QZ^<-WW_[P[;<'9Z=W!\*2_J/W]P^OL MKU^]>_?N*/O7S9_&7ML?DF%?'?W^X?+6F>,%.O2".$&!0PG$W@]Q]LO+T$%) MAJ20KP/F7]#_.BS_[)#^ZO#5\>'K5]\\QNZ&1?(W;K(A4QW@NZ/\'U]0O X. M?HQ"']_@Z4$VQ1^2]1+_]"+V%DN?A[+A72"?+IG&_G&" M$&1\I:W&&,'D6KT(B,*>>?<^'L4Q3I38V_G6'':W\S!*[G"T.$'!E\L0J>'6 M\O610*IYWA*"KWM<[/'CD/.!HV-V_C2*$^+A9?0(XLHKG&F'&;$ M./6P(G_,40SNX?0^QE]30N1L1?Y';0B<3];93VL5 M!CFC&#Q!) ZL.ZH\U$X5^5%-ZJ3VPTR#?=XXQM1\\VQ3YY,Q@EE#LWG.J;/) M',.L(FTY\=1YY8YC3/3T+NNF/@ZG*!,D)T.'60G&-'4_V!),J'WB M9YH /SISLN\RATR'*7!'!%AJ$29*S2$K .5Z^1[%Y!H=N*[GI\0*"W#BAW%, M4(WIM;##Q'0(&;0)-GPX*(K6Y/A$"WJ.$L#G^-/%6=RV(;S \5,7NQ[U+B"' M>L]00+]U*K?/*9DZF1?RX_).'W= J3?N0/:TMSEZT/;HT0.B?2B(!4&@)JK] MKV)9-NFB)(F\^S2AY(D\TH1H2+)(O=#M,KN.-(V>Y1NF[LE![&\.8KV)-<8 M667.]C1V\7V7\Z)UI#Z]2*Q-1";K=^-5CE#V10^"P7D@;/HJ$,GDB[3B6=Y< >Q:CWON)F MTEL)+0.89)#E9])B5C28.8W0<#_I+ #&$-UY/ V=E*(P"MPS D*RO@CH.[/Z M?F+7PR/2]OJ]=AG/$\ MNH_)(>$DK=!E $Q1?)^A4 QW1%76$?:3N/Q-IL0.7[XJHC;^4XENOKV5YY0; MC.,THI$)D)-H)[3A>BO]453GGRR6DI]BW:@N^N+K:10N](29A$+ PHC8,3^] M>$D^R7;%#XX?QMC]Z442I=5KL+* :,P .7_H_]$8AQ7RZ5DY2L:%_^43]7Y" M"$R.<+E];8B0NW:K,I/$4"A#K0V6/X/%-]C!A#*]4>"DX!EDG_'HU=;A_LJ+ MCUDAIE?LK:8CI^L(+Y'GGCTNR9&.R6J9)',4 04K=X:U80FPD["7.[D.X.7 M%8.23>^FFHA84 EUH:9;'N''OO82BW$AK>5VA KI/2=\:V$IYB0<&_P"@0_T<0,R39Q@2X9PY;\R:V!5*5V'@]'JC;2$X0&>T M $$H-T08S.B5[!3?)UNR( )KI[0GZHV]:&LR8J EXXSNN*N ]]!^6&J24JBB M O1<4XU0SNN+7&293%E*1X5EE+$+%K751L;J00BQA1IA)[NXPD7CA8M%&,"*<(>&/;7, M6;1U_V 3%0D!J,"?)1U4J-R%)_@BCM-M2# W7:']R[V%E3=;&5>KGB/"=3,( MB,Y%'KE=C]'22Y /XH9@D+)[_$BN=29.8*].-S0O)L#N&8H"HA3CD>.DBS1S M4VTJ ID7D@15B^>*I+!DH!->JC3=>B6A[*F9UKR,\)QFBZQP[KJZ#./X/(RP M-POR>[F3I^WE)15&[NVNIL%$1^GMM7LGW]RIN]R%&>\/I"0'< M"ST*W'Y4IY"F30^GI%3%N!7R>BOP/=B%M$,,[EAI3:?G2JVV+ELEMHN587_2QG%5 M(71:E"X <.CM4H$TK'>*,7"EP5J7-?]>"TQ0SUV[M/Y\V:-0@"52EO( $ F% M"28U]A9'U"BHVQ$?:A:'42W&(6?3CF(KBYH2XX$%I,;JQ(CI,XFRQ>1FQMXU MCK)."?#/34S*>_*PR+479$&$"G:NT\^(Q:,TF9.+]5_-=PX(X>U0M'H5U9'9 M+F8@T<]M1-L>H^"$9/T!2U\ZC7B;[D4R4Y1"'5((,) MAZ@\;_9Y7LF0'8#>DT)/Z /O*+<^CB@>.9NVH+*8F&>3:0_Y#DU@_<>E-P2[ MCP^8V$=MU>?9;-*F[S9LC 09M<@BU2E&(DLW /&J;<:VNYH% JJ'/91H@'EI MPCB93 LZ,&JE2F PR#=P@;HKOH_".+Z.PBE,[$]U>'OVJP+L-3S$@5A:Q4?R M&O#!K"AP!EM;B4G,JG&J(!$.7" !5Z=X&6$G;]DR"MQ1I6T%A(!XY&S:I<)5 M6L_5XV &%D)]B[,P@+PEM$_IN@L"4IS56%_A@G$8Q[(49K7HZ9X>BN M%GQD"BETD\4V,!14&A4R%D.L=0[[*D#&HV&S/5B4G*-DRDJSK7880_EP/M]K M0U)+A%/B[" RX"VMS&MZ5)">]M9\P1/R8:O5/4Z>R3<$V:\@)P V>M=?\D\D.SN]3VC M%WF)7[Z5KX774;CR:(@M/38J3"E=#H6#V/2.R%X2Q4C(/&GK/0KF97LV1 N5 MR<81C;'7,I-# MH4#^G6E7^)9PA6Y]^;3^2<-2!CE1#;%FZ>257-BU@]>4,&"LJCP6">JEL#+Z M4.*!JH"4-I%AS*]PLET MHY2=2:&\<2K 6XI9K,O+C5&P"4XG,C3!BXE^.;, MVK(JX=97GRT%%>.#_?6^JS'1Y$NXC77QR B>(R_*DGK&[BR6MPR M4!>/8O$J)UQ0&_0EP(#M!ZGP3D7XSV,J>Z_H!\2I)<-0:G5 "\E\\&0+DR4Y MG=U5>:9A'&B:[@,.G+4NV*TO[?J@8@QXR_J"%.7U59MG+:'=" M>ZZM]@,DN!*VG%W6L_*R%QME2BW)1/LJVR1D<,K2=;;Z:$(TS856NMWQ1]AO M-X<,!*4=R-L<,.]$A*,3%'L.V>JGGD^=I& %,O29L;:MI%:NVI,/$W#A#;// MAX6-AN]O>4"Q.IS% R8LD/CTLO%!616F01IBB8A(6G(E* M:")WQP($\R9"8 M>7,R_FA%%LX,5YBM%B91.I@5A]S_)V!5C,JM9;X=0(.3JY1.;C+->*FPTL.V MT^3$5FJ5WC*O[D]=Z&6=Q'V6],F8KE5;OR/#'8?1ZQ?:X0K/M M+TEZ(PT#FO,.7K^\E2"4K" JF+\G1"4N:!6QIRW1&M673M8 M(/>Z5EHPU$RF['YRF$5T5./+"O.7#%7[(_@7()R=#> "BD@,0*)B/03U?/S;D MUZ0\A$X-LB#*&(P:=@A[_52N\>=A=$N.;,_!\5U(.S6D/E$-2=92-_]]EKQ. MU;RD#6.<[/[N53"@C;>#YW&:K\?^UT0GNON\_^' %AK41M5$R5<1=0:I&A1( M[;%Q;!11B;)'9C5 /^)6IK6O#>G, BK9JQ[*!B#LK0@?!-O)]!3?R\5I=1A^ MJ.I;"CIA00_(D]ND)*7&M_@@8O889@J25_@!AD%+0YC.FW$S[)!/4A92 MXB(.P):S":%QQQWN>2B2F>'(Y$IX^S*,D3^97HTOI,32_N5> \^8K%2=A^>* M09U[$N\6"S+4?_AO4%=#897+U]3@Q<[;S6[.*WJQ$EVO493'Q1K?4CW/8 #; MMF^9EDN37TC:5FO>,8KGYW[X\$+_S: ?3(MQP)M.LFEUR7, B=TO.)R[IZL M/\:T8.ZF:=2(+(55IFT@9Z?!Q7YL.8[T&_6_E%$&B7K^>Q@R^HM:8.B8NAN7 M))ZKEN[]*C!=R]1XE/QS)>N!KS#@(M=<1X->4X)M9V(0S5,=W^9[N"$%4H,+ MK ]JM4'T9$I6 ;DS>F1]C.(8-XO0&0IYYE-\ A: "%.)6!;U$@-/IG=S-QE( M-'4VVP7K;+'TPS4N>T]D+Y=%:0ER7R079W)KSHN%$'U+Y@6QI91YL.O$,K/+ MU($W&AE2LO'<+112R"J-1$U%@;2KFI>>"!/]<(KS_[\(1DY&-K[!#O964!4JI.@.]JD\LN]>SL]]RR MG5?903/(D]/@#%Q-3BS&B$#)7TX"IB-(Q.OQ&JW[W^DET:>@OR6@E0@R,294 M,J![Z:%[SV]YZ064:Y/ND]3@.^":#T41TJ_T ^Q[[S+(/]E=S();(DK&C,C+ MT^(&KW"0]B3H)M&G*=X=: T'XJCSW^:VMOM2W,K1\-W)744B#AG2*M4DQU+K M2QG(.NG&T-#/_X[BD(C= 0\WL:L\]B,/TWAT"5C=*@8+%\$*Q];#B'A=8M6VRR M' UW'9@2B4S@D#&CK84KNT:;/$-[9[0IKI..XH *]Y&?G%WM\11,ME90@:K> M,%@X]P(4.+9--AX73\%DXZ(L#"O2C/RF!DD98[C"44)#F7:SIHV%@C/)[>&1 M+K'J&Z'A;#"--SK.#,J1NR(<8DKQ!F>E.:]1E,@9VZQO]](Y*BD*/BB&K[D9 ML9LR FTRK1(K>)"+T1.-L76\3;^&5F_M1(>\ MMQ2@!:GD+,^]Y4NL+$?#/_&ZB@2N=ZT<5W8OL?(,#?4 ,"0.F5J L!K%KO9X M"I?85E E!*L5M#^=8H?P>_;H9$42;L@,)@'E:A1D2=ZT7/,*^;M)%(8"]E7H M[U]@(&?]UR+TE5"6N?_H:OH&L1M,5J?G% G]A)GZ+RI_F9?FV8VD*!+KJC/+ M9PMU-/0X@WU,&Y!<<7W+&M3'KCV1O5N#@S!/C*\GB$?4=N7)S":7\RXH#SJ4 M2^J.JT$=/N.)MP(^Q#=392&RKI9/27S:MT>M(C[I=H@[&C.MB^$V8N"24 MV[^WN$SUD*Q,56SUZ47"Y\*B[0B)CH10($T2=I]$%>7 Q DJ@J&6!0$HDQTJ MP](T/+C$UI-NCS_"V#;J(7 WUD-6R! T\D":^'!.8@5 Q;GV70I'GX?1>9JD M$6:U^_B$ S=4;ZX@/:Y%LUAU4;?5DY;'SVP8:0L?-]C%BV6>X%^)=;@*$YH MO$DT4[#$NHQOTX=J2+"*@,JZIOHLI7J*8R?RLCF$TY,T]@(4?>:")6>R+GXB_6#_(VBSU[& MB(#)UK\CPCGQ@0(8C/-HU005KYA:*63C\I&\E?6Z1=O]8/J>[/8!"61E?L/[ M*$R7H%M5E84N=5DKXVU>#MKI][1C._-D\>C47#N-.JP=1;*'FW2GI*#VF?D^ M#-T'S_<)ILU!MV! [DTU!KI<6NIV' M47*'H\4)"KY#[P= M)JD;=,^-*JJ7PK)RB^X39>MH[>N;]23)'T+SU:%]5,;Z5>*LMC)[7I<*F&^? M0T5([)_:K0;X5WK&9!:,C@YCC0>IAX4TM34R:^2>C!45\G;?*&3%7M7C2N#N MW\[)G('ST*>M<$_)Z(Z7Z&Z:ZE TCB)99TY$T#9$7(KZ9GW[P#WM%WGB-I^" M9&1=LW?D(=W#JS$Y$QT<)!6_E98B]N(OU,_PD0P6)01CZ'QF/D'=A](:&)1$ M3QM#BJZ]/2$EW5H8J!2.^W=FT)0[+VN^AP(W#Y&;X8#ZN?4]1MLQ*82U0?NY M!JLQT"%O0(8.\#92XL#>AM):$_4-IH;U'AX\M$83_IJ2*9RMLNAO?9NF,1)L M2"F#ENZ1TQP0U@!C$K,R*!KZLI[&.J!S![#KUE# G0\# M5-/($Q1[\63:X'/-%8.9G2M)>0CR4P53'-^L>3?<1K#T($ NO2&)C0\<3,3S MQQA/IF=DQR]0 E-KH$'!8M"'FC2:R "E?+5GGO6Q;:0([[^QH @D2*O&<^1% MGY"?XDJ$WD5 >$T76R8@A"A'>#A"E 02I-_BCB]N'&'72^A/O;@R*^2&(S N M:,*4#KVGS++E6Q]:DD/-GE=,340\P(2]$'7M^>LH7.(H65_[*$B(6J8J>4GW M< \RDZ8]H!!Q>3S!VB NED0Y9[E?T;:"_&48S"Z]%7;S&+T>I*O%QW 4JA[, M$IT.]71MULZ):)!PEF/6B\H5$1W2I4X"0HF&AIIAF&U-JR?+(K/D(CNYR:*B M.@701M5A8RAGJQ;$XC:'6G>0,,+>+!BG480#IQZ\%+C9?_IY[$(/>UB?F>%H MZ@Z [4\/$-10)BG]<:RA=F#H$4DA[*1A=")&QIJA@(L(SPGBH,HB;S.06^. M;VG: S*3Y?$4MQW4O_IX8927_".GOH_BV)MZ3I[/Z7Y.XRP:H9*P#',%4N1A M2":5.L R_0/UJO@^5%B/PH#\Z."*JZJ';:S,PY!$K0YP*6I.'9%]+$YPE_EG M.F1##S7<8"]* MQVQ,IN?B,;(;[Q.*/(I:6;L&E8&J,$I8[U]>3[/F1N=K MR=^F#$SE$*8RP=EK72NZ<,1[F]M&.'O"2P:,W*2C(BW6X)HJ\?_9I6(-OJAQYI$(IH#J4XDA&[O MTL@896MT[@E[6ZFH$GA9[?(,?WKP"5IPGBD6-I($;A\3@#?G%'YVGU@4CER43)$7K:B']ZXLSZ6\XF6>*DYQ@CP_5N:*P(&SLM12&ZEMLAU[$.:N1@F#A*B"HO4%961&?S#[S+)Y M[CE9;W[\EXNE_W-RE-SBG_]Z\_K+XROG,GGY[_/SX]M? MCE:/)^,_7J[?DOOWB8/7Z<.^O;3NVMTO-F?CM* MW76,OGO]_ML/OTY^_?U[_Y?@#5K\$7BK7W]]=3LZ\^??__.?/\?'Z/U?1Y>_ MNHLW9[^%[Q[^>??[Q?WIPR3!]_!_VXT._WE]/3J(W[[\/[#Y\>3 MU/OWEW=?/B?QZ_7R:/WJU=?7)T&*_I6BSWOSV>'+\[NOJ M\O+?R>]O'W_].,4/ZW>_^I?'D[<.>GG\]?MO?W4?3H]/;QUG?CR[\3^?_?2_ M!^/;F\-#W1O'1JK% VL6J[ KZM/,K@'=?E(, +YHE%OOT*W-M7X?45-3K3M) M#F@HIX\2&W^^W N) XL;3U'J)U;E38&&:::VH7@1+-,DSEA^]:%V/0&1;0LY MFWX$+377*LXV'&4VJS'I'?.G*KWCAO3,]ZYNH_JZ7^F]?JK2>]V0GKGX MCZ+-)6U213F]"/+:GY6T;JD++W\$6_XG.[=6 9I2)Y\=#]:RB%U;TM@U@@#> MQ*YM2LH;#2ID.)V @PIK#J:.#Q?L:+]=7Y'I!PP!;;C+PXZ+2%W0[6\9(C2[ M.VL,+^"3]1WY',I7(T,63LI"/XWN;I"*EJTB"W4[9+-+/H;S T/AH2:U*_KXB+/)?34'5 M!P02!:BR;$ "AKCT94T>\^J%S(8^:UU--4P5O!H=0)72/5JP6E LLJ!*J0>M M>J2IY[MY3^7RQXL%N;RL\MLVG--!CK!-]X."35,K2BJ'*)CK[Q.>>XZ/ 477 MH& QGTQ31$V(S'K0,\_%)QS'V&\5 L/O4__";H* (JYM,Y9PKZD> A\("(MT M8?9LK0]J)?&)8364QT!CVKU?X3[&>)KZE]X4Q DC0]9J.IJ>)T8*S3WV7R;; MLCZXR+*,4+*)N.LGF(S!!,/7:3* 3$A9L_6F26: 8^BX5('N?@8CYF373K<( M.;YH3#A9U==86[VNG,5=/P!CP0B&L.@IA=U%F\4@PM#T(2P@VN9!519=U1]J MP7T@OS0EI" ?[61<"DW_0R'F=63HJA".P3L"._]NH'.OU M/6OHP50P"G7C#;EO@A?^&G;E99*\K@3)+(NT^3+#88K,?S*]0X_P2TI W]:I#;]2 M1, ;?I8KF?B-F ESPG=A]EVE% !:48,P/TF3F(9 %Y57*[.$6 >:G#RE%:$K M# FCW$2WA@9=R#([LJ2?DO2EX09J]"D^N0AG!3,9@W8,C"83%J-8%#>(FIFP M S9(S+#*(40X:LRPIV6@QY;-$#1C*T-3(E!=T 7SLG 46*SSUT'(0ASES#T[ MGAD'1=&:<(\6M-QS.$WF^-/%6=R6-.AE=QU,K!;R1\@A@RU10+]U-JW$L3LM M*W['917P6+] U/9D'A=LCC(VR7XA;-*:U!F;!.O++9L7!9L7 ?FC487-<87- M36'R3;%R1O5EH0>H3\ZTS8%:2>'-G;55'Q4M!"%VOP87]ESN5M=>5;WHR [& MM:7 R3B,DW@RI=53X]O0!SE,NK!C_ZXQG%6U*TN0) @%CLB?D&M8%$Z]!,H1 MWH&;O?":#V=Y[0@3YJ&XH$?=L-0F5SKM6=_^G27-!U7LQ0)6$1-BHT9%$6W+ M^J'&BCV#1K !-'=O'6?#28+',7SE=E7S!U@^MELCI M@#X'"IB^%F575;@]TJ!@,;#4P*YHPB7S0OIKY4YS3WU*;2E&,)I/ 044_] MEU@[E91Y*3M+=I[WHLL+O;5Z-;=GDRT MH4(>.+Q<89",0 '%IR;1#$5A>('-YUU466B[C[VHDM2>A-,T22.\S K,5-^! MNZ1W5!?Z9+JS(VI)]><9_;S C6[21G=Z(-NMRE814W=%9'OW@/T5_A &R;QO M TB&HST(9C.V?F1UM(R@8)(PU+CZ Z/H[B&TOVI*1O8B9'H/ELM&,!)7J9Z6 M"5D]V2EY'(Q7=FO S_D M;_=DG5!.GM=)32ZFKY0"C\;.=5+9Z5->#Y^0#&4PDXE-MW-SO$?!%S]$@9$L M_Q,RV"4=3/-:M_N]>IP$'?$#$>\,S3 =2XJ%V@=[)%JX^\[Z.V@0#V*W.]PM#@)HRA\H-5)("301L:^=I:20RM" MYI]$[L($^1N&I'1)XY,]Q[-UEH:?*%IHM)=2TL"7,9#UI"95T%F R%AX&D?V M9O>4]-NJGLF=WG)#[87?2"P466#$KP'Z,CG%]TE>+#PIJM*J":+E^WT_7<4 M")/KM.,^+\-@UJ *<=8R:>WY 2'&JA#-&W.G[NXNU%1%PU4[&UC?MI!S .E0>P>] SHWH=T1 MG4Z/68,M9%5$[&+OSTL\0_X9N3LFZ_;$T[B$+\;.-[-P13:H1Y3:JW?TAT/Z M0T67M8T(=JDSWC]V)_VT%2"9W UE,>0$6*G\RC*H#==#NF1+"BIG<970UB<- MCFM;,FIW9*VDHBJ"*YFOKIIQ5*UFE)&CY9 ,9J\SQ[>5S-Y9H?!1@R@IT$9- MNF*(MI1ZK0O!R'\7K4Z>/!1TDCF!F$N6%XC$4NY\=X$8SZS/-O39^ X[\R#T MP]E:(36[Y3-+5S6I;;ZQ2]NF:_SLS:^/Z7WLN1Z*"#-9:*$"NJQO!P$Q<^(P M_:$O@GCI15YRFZ2N%UYZ"X^PJ( U[WL;3S(L@WB#+W?",&LY>_ANA?!"L<)O>-.'@+:IM=;7A.3C/PWFH$X MW>2)6W*7=G5%:* ,E"I0,C\.%_=>D#%^F^#ER"&.8\71?_2BR#[)Z(] M89> $;XL.FE-K1 S\@'+';A%U ]]FX3.%WH2>^ZF&8V#:3PK82)K68X?,ZR^V&3BD@%\:B>6.EZL(IP=^!"5F7H&HKG,O4.I !%B08[PHG M8Q3/KZ-P1)]/4I\T@TB")[>.5B&1=Z9W8I7***C5.Y+)\# O.#DFAGY&:\!>^IX, M5S.Y6"R1%V4>KRD-(,PR8(N:X^$)SGLY$4ZF((:\-/&AV^;R*)=R-O?632J1V%>=S>P5N-86W33S@8"(77=+G^F_6F.@0_LP8:D>E"%ZF!8/H+53& ML/(AS-P!>@]7EH6Z\G[.FW_?8S*1F[I9W'B+3HFLUY%!FO=92,*20-!XH(29/B1$IN)XITK2M%FA646+U!RI99*$Z1_++AH$X MFOD4[7F652PC6?A@HN">793@@M5W1^Y-RNIN 8:*;\)$ 0NM6YK$,-U*S33' ME;^H"8: TTSM-S5YP#DU-XS?UM2+9)$_F$SSAS2G)6^451)K]S/ N[+/N/PEN=-$"WT&TAI@4E M=)K*G74MG]FL':)^U+7-&ZJP2[5$&/U_"'-ZAX:MDCM*HF C!!;;3TEK=,V7A:UXF7*)%J4V@=RT]5(6.R3HK4%=B"2;(VF_)28;RV< MQ1YO.*31Z1VJ!VL,.Q3Y:,,F$\[=IS.F4>BLJ'.F&2R21]7P1E3SR4@.I9L. MS1U>WCTC,0S4$=#NH%&3P#8<2@*.SHX:92&-9A'.QI;VT-2_L.ZF=67L8@CIBVD0D73#M*!HRP.CA"'80VYQ@%ZC*%E7 M\G'CDW7U7Z!"9Q2H6RX#J*9*=-"%>1>LTH&+G&FA8JUVE_[*9DE.6HV9$1!, M+ Q#1!8#7TP+2+)*H5[UB&K3!LA@PG9"5J,']50? S&CO8N8M. T'8N4=77' M7:%_"4@>.P\6"5KHB:E$*9/X( \-< =4 MB_BQC^)X(^M)=./-YLG9([D.>3&^CCP';Q="\:_Q*Y #0XL1BP$%^LI+$W/A M([CR%IQ$WLP+D'\1QRG.G@MW3A[&UFO_TE)IGE[QUR2R"*4NO?\O-!K7N-S%+BTWC-@A54YRL.\N$BB6DJ5GT/09V N*S"A MFBNMD]? '74'2T&R@^1@FDY*P?CR$;I2 P'9#NTANJIRJ&1HR&!BHOJ5FKRB MY,\[+Z'=-BX"UUMY;HI\DVTTVP>W'MRKLD3+UH ,G$Q74FDE]9N7S#.>*9-S M;WD7\IOV&A*6@&P/81&,_IK<-?O]R''ZCWHJ/]:TE$TU?T6R.-28:YNM29"T6Z$(BZZ.,^S@/HTTL M2.#2KE',NR^K[JORJ+9N1MJFAP9P(-D"IRF^"RNSZ/&J)$MZ2+)5AE4R(*'7 MDE+TG7X>^H2QN.BQ!Y0[8HD,X[F <(>6J&RE&",7N]$"IC7P_AX(/1^ M$]K$O"5D(]&1\X+9XW"Q# ,:8@@6M,\E"*61) M4R:W56@@R'S^0 ,T&*;@ M_G9"5JOZ2JW7W6:\.V#U)QB8T'VF:.Q&[AN1#LAEAEC_-[3*K$EOSW9 JTE' M"FJK 8/A0-AR<.F0<7F4>[@Z"KTP.^NGAJA" D0'4,WY3)JP6O*&R( *EM%] MF]['^&M*%=:*_ ]HLB*#E'7?L([1PX(-KB/Y+D7 O$4F,5N%)"37JT!&*LF+ M1H4$E+W($Y--(\B D.1,(-5SY ,!8Y$NS![/]4'M1,*T&Q[E2=*8-L0+U@?T M"(!L;="]1+8^;:B* I4L%\ALQ"81&Z&V4G?\>B;B#C8@=]N&JH*30SLABUFA M(M.#H]"AVX]D8L^C:JNU1O-HV_SG,MSZ%.?_#^/34V?#5GU>->]M)Z!AKBP\ M3J[P0_9/0)Y;*\ X\/GS!/MO>XB7$8 MT,;.NRW"]:HI[XZU@Y:HDC)O",U B=91EBY)(9""M=",#H( K2^=+I>^ MAZ,=70CY)L$G:>]U0L+ZJ;]/"+"#J2A:K U"E9!TVNNV&CKM&:3LY1P)E7CM M?&*KB-0?V8CKM-,*C^SA;S5"N.7D&M'TS;"**&7B20]G9 M#)VD6O'IR*%E.%)VDR&VI3&97N(XQO@2HYCP,*+5469Y">TQ6GH)\NF_P#R7 MZK!ATX[0E'@GU"5-Q%YS].H1')KJ,??.MP^EYFP6#J)^J^<,JY"3QQL 4'LQ MDO(DH=YFY''G;\+S_!R/KAF/+K$R58+1#9O,SY'HSY'HSY'HG?LE#+Y?JJR: MXG1*-5NIY;E1ZG.C5,N-4I];-?74JBDG2$-WSAX)/9I!61)4P9DW@$5OG!!I M[L1EE.MS!L30,R"*4D]>X'A+Y$^FC=JK<5%\==Q69(E9&TMV-%NY"ZJ77 5\ MP';-<\%@,P)5Q1,N%9N><[1<.-&Z[B0:(]^OYTUDT?8@>E&.\L $*HLG6-;" MMH;_9%J)"=YT<8!Z"100'9@8)5 TGKR0MZC:QFZ?(!\%M#/8A>\AE^IYJ8./ M/X(M>UOYM!, (7MD M+;]Z1W\XI#]4EK!P>'7KG3%D2R23*6[[S:J5E0C=#'PL^HYJHMSDZ_$&SSP: M.A@D-!K>@%1:A[5A\:M*IQT/PWE[5:;H:XW!;9 -9^%C8K8@:VG7-2*@6BJ&E$%D#V7B@Q2 M8O>TJGQ&A#TWNS#[R(0HZN-9*6ZD"GP# J$36G,+8)J*Y%\0V_'Q%[PVM^H; MX]IYD]%<[$U,3+N-*Z1RG7>#EV%$\R9HU;'4A*G,'7X0ZY\/D%&/\I;?C M:$P.G5D8F=L,]5&'HO,;6 C=R=J&9OY8;Q[<+Y/LG:4RXBLV= MPO51AZ+^&UA(^"XU03];X&A&CO;W4?B0S*D/%@7FSM[VT0?@A^""4TJ#?276 MW !S[/NF15 ;=!!G0!L8)>0&;[E;.XOUY-/!X*R\Q P%\"H2)=R\J"M=Q.F; M;T0N%!E/6:'G,7V2C];CT#7G8^93&<(A+(56*2B V_%%D&!:-&UL['W[<]S&D?#O M]U?,E[M*V76D)4I);-G)72W)I;PQNV_!*?@,-G3[=)^%7OL(]]YI$*69%VWQ!FGP;4I^>1UOO8Q@4@H7X([ _SHMAYWB M7YV>O3I]??;5I]3_'<4; '].XA#>P1T@D'^;/1_@7WZ7!OM#B $BOWM,X(X- M2)@D+_#\%Q',\ 9O\ 9G?\(;_#OZU;5W#\/? 3SBW=V">Y8WU1ITPHO_&A2R M!\P47>C(KW4A;$QZ46$PQ/^^1O"T((6?,ACYT"]AQ2L(R$DV(,Q3KHM7CK>M M-4/,%G%2+DDV_LOO\O3TP?,.OZXS!-T>1MEJ=Q5$B*4"+[R-TP STNP^S1)O MFS$Q1R#9>>D] :=8[@7^6E[ ,$O+WYSBWYR^/"M8Z-^U]D7H*LZ$@6Z=JORD MM3!%"6>,AU_#^Y!\IF@REE P.GVW_MU_55-!O /59%#.!K^4\__^9PK"?]6T MPO^<)6V">+%-D;2X)"=MLZX2^*]&:FSV U+XRY<):F,$LO M\B1!VXS!;NT-**"#\E869UYX+6"P%@0<3MK@1<"6C@$>F>&69YB$:3)']U@O M_LN0"5;9(TSH>F.P0'/Y@06+E/B-O86DC_&X+N%=4)Y!C2;=CT_4]]L?[Z.W M3FP%.D_GT^9_TSW)>AUX]T&(+@DXIEQG[.)"N'?!4)+P83W-+2_PB=7D"\XI MC05^8[V1><.Z#&CL+>2$*7* A/0]Y4*E35Z$2 JN=NLLWGZ8?0I&80'^9B^. M[U4[UL4Q'!SF(,.P.4$&(@L"#:VM!Y>V X]J3(.!>=K"4C=@'+3*8QSZ,$GG MO^5!]CP.QW1V<7&A=,$0BI'U?+$ :3WG]__^S:NSK[]+@0]WP3;(W+(.CVYM MGF$>V/ANZ:ZWB+9ACEV+MW%"3-,ACC'#X$480&@GLOQ#YOQX;QY\ )+UN"F$>^'4XX8W "VOS_ MV$ /B4/89K/(MZ-[2?<*F-;BW6 M0]P>[V%E1(SY"L7;:@257V0>IG)^8#DQ.A*"%=DX-$9S:66F^3 M.$UODW@7C,(NS>5M>Y0:>W/XXNW=:KT&MW>KJ\4&?'&-_O&E:WY@T*/) \=G M,O]7ZS1;P#Z)U@L M+U8W<["9_31?N[R"+7!J5\D?CSKF"F.U8_']G\,(CF0U\+9R\:[$@44H\0M[ M,\/4 8D24CZ#KPB2%;AB(]62UA!D(T5X $P]LJ]U*>QQM]W]C]O'CH;E(>.4Y)L\\\KUEVF*(7^CX$,4=[#\T0=WV/Y M)!NK._ MU;MSE*SE? .PHN4VJJ=+@B;?'!UB<(^N3&EI[R]2-!R[X'30.$)H MBL*MW8:!==/6.EN<@.P1 AKPXE)"ZJ"U1Z@'.OFXSR/M#5RX/5H02"02F&TV M=XOS=YO9^?4<;%;("KRY62W!>K.Z^.'[U?7E_,ZM#2X,MB9/Q@S#'2?Y>XQ8&68Q4F/T^CD#ZZ"6PB#9QK07KT^*E M@=,RA4'P*ZYW@,X-HS1X*ARF:/'5;N-],E%?CKYTO 7Y?E^^+K[><3:UJ(N, M<@!>PD9SF\Z5;),S1^45S-GCH=7PD5\ RQBWF6@[^_$@ FB4694K:!MA?2[U M( 4"-T6N#"6&;-8H@]"-=[14*D.P\>"L)PI85 ))I5Q&<_;OO4..; M*([0/]/1$YR9&P[ML5*Z$EB0<#[60M378X\SG=W621(1D2GKN4?OX25N7"07 M7OIX%<8?4TO:1G<_RWD1(EA4M L\"9!9S!P)M_H$EYH<-8*-@3Y>/[SB+8[G M\:%__OPNA?XBJB)L9]LL>**U/A@/)B.Y"?M 9-_VZ@K']?@ MW7I^"1;+,O9D^1;,+C:+]XO-8KX&)('L[+OIO>L-PUA'/K2^>!XZ8$G!_=D3 M9)Z_E,BTP09@,(4/0P??HW\L;C^,27\$>1F<[W9P'*>QY1,X"&BV>T)>B"+, !T*@@ALL2<(Q\N1'V"] MG>-H8#?LW(H L4\L4^]1+U G]RF/\U(M#0[H!3/O@N-]7> 4W%=!!O'N.$[\ M,_SF!O^$1LKR5(I;Z TXR_$N8@:(?LU@@_]C D:2IEYCD.TVSK%%\' ;A\$6 MEQH<\=U;L)O%-E1\*#ABJIX RAD3"9V3DZ_5=PMS\]#N-K1GB:( M7QN5*V_0Q9XGT)]E5UZ0O/?"'+(YC!,<;[ZZE6#-?C#RXBN*];#(HUULB%QL MECK=%XL"+P,[M"QXPNNZCL 8AA^J /A^>.TA%:L%SY^K'[\/8()0\/A\#9\0 M)D>*-5/3B$73HW93H&K@13N&Z.@+N$VP M_S)[OD6XS="'@)6 []TKU2:RM>SQ&.Z<"G(S$.Q!CC@10BOP7(9QQ>W*549 M,E$-4Z8V,W?U\^<-FCZ6_%/9UFY;(06(>#6.XNCA]#IX0K?T!OT^P(D_Y"+K M2#TW><^J]#U*B%;"AB[;I4GVZQUV^2@R%AK?8"KTKV.&:B]HP;IH;2@(G W2 M+-AZ(2C4ET(F'=V"=K4V%NZ)P.D<29NL;9%%VHB'Y-&IZ>(SO,)DJ]D@NA9$ M"E=75J\ 8+$$P.W8IW5O*1*2<6NIH,A,5[J*$Q@\1+1KXO:YL5%7IG!X2[*$ MQ9IJ"N#PU&TZ"92S0&.:RXM'@T85VR@@0/,Y\(@;[R"&&!F49-'5[AS71T#7 MVB6MCK"$I/;'+4Q(#I.AG#+CAZLX .[$D"05A!. M2RMW\#$P+C7;C-'#S_\VCOV/01@BJ!915OAH**!8E"%M).=I?0,UN]("P*[C M2PLV7KNL8@WRV=6K4#=8"NIU7+]<]>*(5KLM;:SU]*D<[V)X77&7<6"&\&!1 MN >"FL<*@3\I"2TC%D.<"I%A;@4@J1IDD'BGCWS\[<$/K9=03:3U?0Y%RD62!?\L[.;. M-](JAW>59TCFTI!34_'8?S\[E_?08*M$J#3V8(O@X])W.[)3$)_9T6LY.]GUXS!AX+EKT&"9.NK$*2,D6[<%=TH%"0;/=H#@CQ)-?FB2I)&!*'?7 #H[FH21L]023! MD(!:QAF\]9ZQK-+B#,D2%N]),23G8'0^SWN_62C#[Y MH@7).\*("HMT3ZNJBPP:#J\5TP"9!YH3W7.:+G&;JHT2.HPK3A\7#L:2<-SB MC\(=[3IYQ3-H#5K,E:9$CE;$DR*A!ZO6!?Q?A]D]&$L\FF!CP<8 MX?PN.]:^'@!V!9P6;/QN#N4:A"E;JTB\!FY:.>CSPU%S!TV<&=?RSN]3^%N. MRSH_\6,M!KIW>7M9K>#- 8)WTU;# 1WOVLI4)5SK7A6=V4#N^3#X]3+>YIA! M<=)!EUG2DEM2N/WJ(7YZ@::@(YZ]P3^;[)8@C 8UP( M%A[",9&99]!^W6FN;HRLG>[X*0KC,]_HT8>"&+2UV,!'NS&U)$1I@+(9(!C M3.@" *_@R/6G2=L ;Y(R )T,.XRQO,8],!HN8 MJ8HYH)H$Z"SW-Y*8<&T6$ISS$/5IF2"R3.'N+D>5#UME[55D,6SOYR!1== M3\585Z:-@!A=%;=],EV?5[W6>N^%X7F>!A%D-8,WI'U[5?NT;^TOICT9"LJQ M;FG/)$:;]MV3F=-^OH?) [J$WB;QQ^SQ@F:\#,8#[-6M.K0$@(B9HIP"Z!Q0 M3')M_@@)UN83_J&-'&(%\SW",!R:3UJ+.M$HFA!(A 4>R> &1^*"08XC:7%\ MLEYZP@5I$TZ>IA6Z$9O:*:)-[-\D(G D!@MMJDZFGA0MG,!%?$KQ[$$/145@I M5T&Z]<*?H9<,]YK"7=JFF. !P7N_+]P8=#S $[IO*M9904:DDBN$AS7Y^,N7 M&KHB?:^Y0K\;PA3AKVW7G\J%0_;D5O!(\?)&ICB\-*2D.GY]8Y_7S$7:7A-S MWCA<4J]L^>+@@*'((D2,=!C$+8=TB,3FC_91^^FG:-'$"Q>1#S_] (>S4([7 M=?-:>P2%1/FD@P$9#=!PMXX-#F6.M$O& 0TCJ47E!P9J'S!N90)IPVFE:@2S M]7J^6;M.Y^:7%Q <9H1O[ DF][$N5EG=0>BH;QUG+YB@]66_#ZI0_\;_KHXW MLMW.G0D%3Z-_=W[YD(5 M6C-:#?%1H_TB4E>@AP?#C!*(6+P5?8(DY9P'8/Y5+:U:+YJ@,7AQ&(F M@'0JS6R)\>P&;Z9N\ZPT:-UN4J"&%-.LE1LO^0!)D98UW.;):-V-F?LX8#(6 M'!RNJH>"M!KK4CT3T:K),]PSFC))@^?&U-U9VU@WC!E YN@3[N=";1 !Q;ZNBI5.KF1-1G5R[6E3(J=1" MISR]L6I$>/6XIMA(3,7=RXWP84#"X:3%<7FZ-A.YDD0"LG7$$>^P/612HR@S M8LEN)80QKS#EO1VH/JJP\5J +6;GB^O%9C%?@]GR$JPWJXL?OE]=7\[OUK__ M]V]>G7W]';B<7RTN%ANWFK8N_9L\J84C4W6JL8D%CZA@-]MN43XH$M]H@_>< M.DCEE.,PT["NTO5CG&0;F.SK@GB1CPN\I$79LS'X2+ZI"_U+"A6O&@&>=XJ6 MWS=*(SI^D5$F:ZLB@1("C/6PH[)ZY:(C>J"#(\$C&K>7JWA)3CR&%. ,=MW)0$2M=B<#[B$-%9W&];=$ MD%KU'S$VM.XB%X+#7':\S*('FZQ(R..VCU_ M\*YQE*&CH=4>2/$1F(XJJ@:&T(D_<] C\)R?_*<;IU)Q' X3UT7OC=X^T7]4 M.2! C1;>S-K&^JW- ((?RU>H>BG-?/^/EU^]?'F&S4WPA.=]!\Y>GKQ\2?X' M4IH6[^798YQ@5^IW8 T37,IZ!HY6 E]T5_JC<*67)$+C)0C2%#M,2%!AG; . MO S<(.9^!*_/3@!&/FV(#K<05X\L?GOVY@3IK.D!DK)+X?.7SJ,0>3QW%'7( M)%>O2*'FDLCZ7B6D!)Y/5K^%":D(,/X'P-W93?20"FBJ7TK%V."+( *72&9Y M28I;$U+F_M)IC)H>_?G,*$320+*8%J>85:)@?*[L[.@F_EH D2H3=N2HXT=5 M-Q2R553D,9,S4.;NYR9BTL MK*,&/1W,#\*M M-FT,E6V=1"Y)P5+@= W+PBV3Z5@5JJ@Q5?4ZM>[&-2=$VSE(7>=#H\1O(B/" M+8NI&!"RTQOZW_7*9X[ 4D>ZGDMIIJKL,=GJR(9P9)BJEL]4/OW@G[E"P1L9 M4*SR-TR:L+3O?PFRO!SRWG]#"1/!K ]1SOA$:56;/>&5F_U7H,N9@9)9-)JO M%M[$YY#EON%T@6?/M&7J\$%0,7:R&-S#KN2TR ARY%<]W?FG-'80SWP_P,^# M7GCK!?XBNO .0>:%8]R[O*V;[G,2A7L)=L W&:9PMW]7Z0[ <)G[8>CD0 MA'':#%QWP5'J%&WUSE8[O9OBA6K ,0L:-FCCTZ$N/0)CTL:\ F*]'$E\QUT5 M$O@(HS1X@C2:^!JQ]56IU$N MGQ' =%3/;.AS* @F6G-JV]P+?(&EU9<@('LZ3] :BP>/0N1'P;WQ]7L31'%2 M-D"#Z2B7;6-D#;$EW2X:_N.1Z-682O6$8<%KB;OY\OW\W7;N_H-N[;-W$#?/,*0@>(.ZU&#T7MO'%+EW$W M<_#JPP6&5\CL=GXWVRR6;\'\I]OY[4AYV6>L:1]I01P7-GNF518J0IQ:"Z8;I7P?#B$!5H7RXO5S1Q\ M4>@V7SK)<%*D0\4"DK,:*\6+Z E2RYHN/J9%S-W+NM.9!PF_K";Y<]=GX^(> MD9&L>7,(#]HC>>>M%T2K!#MM5M':"^%J1Q[7%M$ZOT\#/_!8?=_[1E'<6F5MVZQ47POXAU=.&"$$/&T%?)V<'SEN*KA M+*5@IY*S^+RZ;ABB!=TF\5.0(M,;OQ4T*NYHJ:_21>RY5Y3@X:6MW*W>+]:+ MU7(-KE:55KN9_31WU'Q BT*58JMT^AZ:2E%AIUJYX,%S9$OOQHFRD.SH(NI? M")&XL;3;_F!*Q&M%^+BOA&Z&W/\*D[O220$M6XRV1I6O3$28'B\L5A?K):;Q?+=9GX)BHO+%V(V8"@ M:O/T3BP\[PT#NI[%1HZAJ=< MV94QT1RX MV >N\:+E[Q"O8,W-)H=%YD^[G=^!B]7-S6H)UM_/[N8.PT&4J%+92/)3FZMG M;8?R!?4F(\ZKW^O0MN=>&FP1.U\&(7[+&ZTZI#DP]E._C&'E]\$M5F@\;H!3 M<(^7($D[/EUD@J4E>S-1.S:[#V(-\\Y,'ULJ66[O(QD+5 ?9D^.+I484PAA]H66VFK#E[M/X8'YIL2]N>-0D\,A/_0"NND%)U M>+H9X[O@?$7:-SE8!5?#VXL*Q:,4 &/Y__E4)'W)SK[[3(38.*0TBF^@*:3( M=GM$J\P0Z;P'V-"OFW4PM>PES27MY@1KP<9+%IXOWGZ/PQ)G[^=WL[?SEE&U M!JMWF_5FMKQ<+-^Z>UXVHVN=6:R/)V,OX-%>RQSW*5CMR&Z-S2Q<>(:06(^T M,8.3P\WG3+E):>U86/;CC*8,[8$Q-S46S0%FW9[E:L"CRU4W*"G9V^P>(KY- MC[GB?RE/:-=V)#*U83F03-'5;GFQ4+I1V3.M7IQ,$%0BG:ND6/.RB :X\!_JM-U9/;LLG^*R?LU1.:/)^Y54[N*Z\YH2=QWF04B:6:8H@ MS9TGU>4O\P3WD(9)$-,F0DOXD?QEE.J2:AO;]WPJP:72;J!H@H;H![9>^NCZ MU5:+T)U^XTH(,2TLQ]Z :G0N>/!X9R>%Y91 ,^##Z=A0>G178$D6 M(HLJ2]$E7/R>E'CPT3>J9 2-L*WE@A[#GT!3,J7%LCC <5LO3,S\XF_@4*[M M,-MA/ ZK#+R1:&'JAA=^MO8_JE[[6L_Z&>$08WY8KCUI8S.<[!OK31>C.$#1 M!U_N7L3;C'E3:6QE.YMR&+!5OIR4F.9H]/'G0YR&G^O-I,]%2K>1)NI-/-/" M#]7.QZ&]EU7O]T! 6_@VIG^Y#/^9&)'!K$*VNMJ(0$!&+"Y@M]I=PGNUT(D> MRT]%ZU* 54.YR@_H-]MJ/K;2?;3"1&\ -0XPL$&8&!Q2#6+I9$-RL-+Z=E,I M>D#:GX&G+Z:'X65E;([NB[J,(T9/GMYRN%IV2MHZ&T1-F]8OICEZ9^Q)7@,A MV\+3X&KT\-PH7'','Z&9;L#XF,O,A.ACR-R MT;=(\Z'1P=!-,P;;:"UML")[>XTDX2*V:Y52FF3)!*[75!#_& M%G#[B\"N1Y+$GT?9;0+W0;X?7SRR-G7!F%*H%*4D\67[Q52G[*A,7+Z,Y*&A M1Q/5;0(1*U]"^M^&CGWA'8+,"\%E,M-C\P]1E_$P M\.Z#\,CT@N\ML2[Z"]-9[QDDP=MCS>%,7@E$*%4\P M%J/ @0YSW@M8D:)B9F.=?4!IB)9/6-J]; MRU:'J%)>8YV_5V4_]A:-;I*VY1MG^\E(.C9\W/;GVZ)/54?J38D3^>168D@. M.@84@V4WP3OX!*/<$C,>;SH-%CR"2M(X$B1TV.0N6PY%Q?S&.KLQERDZ^)E5 M[$:YA?L!9/MZ[@6M_"WXW7I^"19+YG-P58)%VN_-107Z(=BJ57^^-Z+-%03. MH_4B>H*I\X@($133B8@00*D8$;%8OI^O/X>(" 6V4(B(D"',U"6ON)=;>:\. MT!3DO3*TK@<7^5=!Y$5;UR)? M!,5T1+X 2D61?[58SI87GX'(5V +!9$O0YBIR$?[;"'TRX2G)YAD^'VWFZHQ M#-.*MK/_?B" AL.%=_#@/=/(LG@'[KWH PAC+W(=%J9 Q2:/RF&GI- )#E1U>LTI MDYDG# MVVRUFW^BG8_OD,Q?11BB6>3C_\Q_RX,G)'"B<0(\M?:WGIR@ QV'W^D26%S# M8A& *%;#QM M0,R1S&2+$P#1!"10#R2I=:+L*:*Y G-R<6BL"Z_SPR&$V$?AA7C#JS#^.*>_ M&-4?J;2O;O/R[V]OK^K*U#IMDBKO5K= MW6Z@#N%;U5Y5<6187H.HO5Z E%T6LU_%B59C*/75K$M));!$ O* M%L"QR$QQB$L8.&RVJTW%EO!31XU922UV/W8."QWU.K?()9*FXXMNVW#;9&8U M[^Z";J0W-6+@%,E4C[?Z+3#AM4*Q]#+,OJ_YZV7JTN?R6K^?$ M"E,$3D6. 1KSTB#S0V<51!/,1&!.^=N04ZK:A[QS-O/X43>&M(WTBO_*@ M+S*X'S?B1GESVV:N,F2\]M:KY2DQ:AMQ9Y0GDU:9_#R,_UJ]ZK;RNJQ)^J@"*BA4T:_?MR&+"'@E/=,5)5/33I3NK MHI\6"GM7HD:[W4$?[@\TC;T1%K2,,XAVJS*9-"SM/NL[*^2K"ZDJ"R?5HC2H MHUH61&A=PL)>D949='4^Q]QLQ!LT89E5#:/93T\A $$JYAXR0[17_;UQ'#3B.;S/#^+^<.;F'P9+]D3F/?H.1,.9=5*YQRA8,AR)K<)Q,\59=V 0MXC/9Q\'N-5_#2$9+"[OP]GJD#* MC? G4ZNZ.\3LB_&T!O>FDZM%H<,E8I96QIUI &F1:E!$_AWBU M7N]DZOT\# M/_ 2M8PDZ2(VKWTEB,09)57@)YF(_0\>2*NY#N,-5*E5N1*4\&#*.U5Z'S8^ MZ[2H(EM*S4LK6\/>U:H"CBS/D1;0GT)JFR)M*D91.;AYD"5,< 8N$F94C!$' MUPW^N30P%>K9")B48,#0) M&OEPX_%2=Q/['-2!0=S)B0QTK!-Q:=/V6[+.9;_U 1,.ELNJB>#NQ_A9H5F_ MW0$-::K7VL3GD#Y2L+X^7CR;8+Z]#TL&BDJG-'33W\/BPJ -,F1 M>[2;F?E^@!T^7E@$+]-2R>,)9O&&#AHV"<#A5D0HYP \Z32(0#'-]06O1,UV M!R39\7OPUAW,O"!"UJ^71$'TD(['5)R=[%_Y;$"XY@<=#,K1CB]_,;V:;",X MIEDW4"_+T=^>[R .?8$:%Q-GJN4[B0T%-V2B& R*T0Z[&HOPWHAKX)ZNS\VS MW>;[G)BLO#>*$6\AYA3 M0^>(HPR=*<1QD\53\7@\*=S/1<2V""!>B&TVODWZ)-<'8JC1@KXG6]$ M?FJ6*DU'".,T3N(&? MLO-PI%I3@\/H(.=DZ#/PBJO/UQ=WBUN<%XV#SL[?K1?+^7I-HLI7=V]GR\7_ MD*1IUV;!6&S7BC,8 ^6FB3577I"0MO7TI>T&>GAM?Q7=01SS@;[J/&;BP%]L72P,O #NT*GO"VKK\,4T9I[J+DU-<4M!=@H02D1KYRS(D&.;G4&XL,WU>*G''\1R+5S=K M?YZ)0T9]Z])[RT%N77F4<1##Y[+;!.=49\^W" <9NDPQDQQ(9-Z8MY?"KM9] MM7*8%*ZG0[$(..!5R#4%RW4<6\7JE#XJ.JJ"E1Z>&NX.[U*XR\/K8#=*"*?* MM@YL"P6P.&Q(!R"M:.>T^Y<&.97X[.C M:-@0MW%*'C V^/(?52(."I_U"F$# J\@9+,ZDKQ=*-1M)LX8+-8*F!D:RX:J M'S^NOUG85,U@4%W+KNF@")4D_Z.<#AKS0;D ("NX5#(UR5@IGSK(,7>/U\Q> MO@+>PJ1L21]LT0UQ&81Y!GV;HED/% ?:@R&H"C(W@9B?@C"H.L[?XQ6)ANO3 M-7%5?9+KA(N-@A3OZE(1Z.)::4RSLZJ NE1OELO2 ,W/8PWR?&+ M( *7<1AZ28/3OW2?LV?&.7SQJXK6P?A=+._1UD=?G:4OP PL^R&6 T!MH&]\ MWA]*+Y8SU5Q$R#=\"RES(=\F<7Y($3!A[J,/EPV'I7B9WC!9OU;Z0LR+AEFL M+U;+S6+Y;GY9MFM?+==.-?6A&*;Y#0R"OAZW26WKOO>2 -NS51D;M#U^#[?D M;)%O[R*D10,^!:]*N485R0C*5< OQ)< \&J +.<^OU.?,]A.%#7,&8=!MKX@ M\01FFY"_IFZ-4W/2JT6%[RYUMM9 M< #A<$\U&@1DN,-F0Q+L5^]YH@-:$&E'VT] K+$@LN^(Z 1(6#+V&Z30+2[D,MK%9S3-KV&:?HN[%E6%5;S&)->FN3E+ M* I/$;*,$_3YVXW4!5.RX[3X4]@G]?BRCJ#;\BIJM%1DMKXM54O+)Q99/K3A M7).9BP+M]@SQ0>!S9:$/ 7QOT_T$T)U 'XPPH]AB MC*V7:-?-1Q@^P9LXRAYM6VHJ$$W*CE, F/-A(>2<3=2BT^ +595%$4V&+PAZ M._\,O63S,7;/VB4@3@H-F4#*9^574]5XY/0W9^$F5HQCKPRV1!QKV7Q'SIY7B"FFP<0$$NM!WV9P\AGX#VZ#K_HQ M0#_VK1 SDB./LRL:.Q$&QI!\#@R,QO(9^(^?'0,W&* G Y>(,>T@QM^RX[W3 M?O\HO7%3>.S@^^%(G-8$7RV./&Z*Y^M1!01W?=[ 9'\)[\>M2,?9R4%C,"8@ M/'_6]ZN[S>EF?G<#SF?+'\#U:M9,B7+BC!*2K.56XI_4T'*N U,L,HYL3P M%=QB" C1&']P:-AM J M3T]Q^(0CP]ND=_*-L\C2_)X[YS*]-4IIV5V"GU!M3E+&3K_5P9(F$ TC$[5"5)IE0B39N*'"82 MX,ZC"15H+]B@M$!S0B>\M,I?5V MLUOLYBII!WA=1P]'"T_ MAK'"WOP)Z$YWSIUGLEHV2K\YGH M_*8&3??",E1-IJ"&Z-HW[I4*!07"_-9 JL<31*Q_'\)EG,%;[UD0=LPAM&P- MJZ:-!!C>_;%:OI_?;4@"^7*UF8/;V<\S] ]W>H0B82JF4#FW<:!68W'B!!\] M-%V\H?5K10@.CZ7J.0JO(BXN%B6J-F\7.1I,KYC;)(BVP<$+5[LC1DX+3F:J M+QR!I+Z:5=&D#!:'HZKY[J22-ITJ^:1W^"$D5:D&-?<8658QM[2=&2.!A]<0 M+"H2":%/G7AYHP>=6^$D(B1'/'$/;AY=PN':D3GJF).LJ<\26!0N/1]=$4<9 M@:ZO.0T.8G..">/<09*O>NLE&>U_Y&UMUH36V=X%@VG Q_/^S:]GF_DETMGO M-C^#S=ULN9Y='-5[=L)Y!I1O+B\7&<3R4+KU;S^5:6.EUWVXA M;E5(*N<&Z0=+_*BTKP.=3@H4W[5Q,5]N.A7PG5W&RE0]NIG5$-"'X?;[@'0_ M3V>13]_D'B R6J"MJUH3 OM,J ,>EQUO;A:;&\218+:\!+1+P]OY\F(Q=WU= MFS% FTNU,=0CW#V_3^%O.=IL_H1W'/>6YF[FHG$E#QC>1?SN?#W_VSO,<_/W MZ/_=5@>5TJUUVPJ/:J'B\D6<9NEJ]S:._72-;OTQF*L/.(/Y@M]0YHO@ U:Z M1>S7 URNV9QF143M45^$:==7YC&'87%E)K9ZO('KU'7&#Z=%6IIC%F^!,J!T M'87!F\#RJMSC(9]W&7$&>^%.5Q$ASQ+K]%=&)[=P/T]'*=8@F [!W66^-!P M^.]O>8S+/]XFP1:F8!&!V38+GB"X\9(/N+SI%V0-TZX3XON M33Y4QX\A1[Z'C\$VA".RWM$.UL,!V_MS>*D<-(EKD4V3)ELPSF0:S/<>IBD, MF?3G!.RU9UB/$F]MSR4G&>.4FGSL5F%VW:-HAX4GV:\W013L\[WR%XSF-+Y> M]*_C+[>[J,5G@\[FO$H6=(QS$<^E *$R\S#&<;J6+6$X?D\'#"Z\ETT[1/( F?OMN_1\ %G-!@B:[YPL=BM6!MRK8 MZ,<_LR>8>&C-WCPD6Y]&<*"T%K7M0&EN MSG.@T#'N#64>!2H'2N 7/,.5G:M I)(KA(?5=:/Z,/CU&CYX(5GIF,&.MU35'VZ8RJ-LT>$DB>ZY7IVYYAG;2M[3E4K<8< MD],V,9G8K>C8/8II"#X-C=VM:!GZ<'$]$+0Q.AG7$0T3*@/ MI[-*%0 ./OJ6M2>%G4945]@;6=1/F #(R]I?DFHF' 7$97%[%L'XC7-Z:AC( M2MH$&>Z*LHC\X"GP)D \-00/!:G[=6CG=NZ0NJ4AB[_ MD*;2HYVE.JK\X&QEB4(^%5DH1@0'UG^S)3ZX?\3)19YF M\1ZICD,*$<;*PSM+>0*DNSFW9#4=X_8Z$5.B]I%?O893D5_7-;5=K48:,'SQ2#, J3OKH)1!7?2*]-Q(0E^NX]L-I4[_) MD7HX,O<-G^=I$,$TO8CW]T%$^'^=P<-LB_9/ ](1ET"RB!!9$138/8A^D4 X M+O<. I>+HH%# ,[A>SH1!,5,<*@F.+;XAF2B=D+00+@TKS_HD3Z;N+ X4C/9I>#Y&L2KT(+!>B5 +/&&+@VUS/O#VK3J_3FP0(^*W3!-] M[+@0Y7=P#SU< S?,==Q.HJB.R1X#BI[#0@^M^5+F@+$^7Y1X\*E^3T"+PTC MV-G(-'WGF(5A_-%#V+B*D\LXO\]V>5@\?Z;T&^46^!_FH] #P ';:P'(>SXK MUP [I)_[Q2K *Y9QR>=&#-#D9'W\&)=5@H<$;@/RL%N!#/K"2;W\0AT?LD2 M3XV9V*$0U,D"'DT64*3Z_RZROS3UBBWV!R](B#MCA[MA7&--F*8R;.)S2$M\ MH=UV8P@P]>KAB&;'-0OI9^/_(J0\.?2#SW0YN$0C-S"X:/9>NH@LO?50*?!IB M'\OYZP. S'US*E<&6;TT\*JU2>$;2%;'0KJ=*4A_)@R_17LXB\\:D'7J]GD# MX;Q'(GWA2D,[M*PR)2X73+>=[,R!0^F5 ;9]KTY34B7D:&:BBHYLEL]<=?:< M$0?=90Z5V( QS7JH9Q<&7K&MNK^[G\-C5Z1MBO,Q7E&:;QK]*<42 &M2@ 3<,7KQ.E*F>(1JZDS,(I[^9Z'51F7SC ]TK8-2.7SF]TZ M=_ I#I_02A<)](/L.HC4KAW6/&L>*1X$W.CP8B38DJ$ K07=*1H"E#>2T]F' M,[2\*L:AX>/5K7:%H%+Q<7*8P&!9VV4,]$&4"I,BUZ"^K";HO.Q)]8H/#=%G MZ,!J2[LK;PNIVC7^I=?8RX%?G0T)-V?J(2%]#[#N%.=9FB$#'@NW0]ENN?/$ M[\J#*J8F_YX[PH$K-S@?)):W^Y:/_L\8^=K.:)KXB-3AU>Y'+TF\*%/,1FU/ ML:M+M#<7&"SXF_M8#'.G0;#16Z>==D]CJ#>4:VSB6X3P1R^%N-T=CBGH])SC MD%6\@ETJ"V'A$+V< [(8'(I98$NF@13/ U\$$5CC4-GT2V>>#"4Z5?PAQT./ MD@BAEZ85\ZV2N^#A,9M_@LDV2"%I7%)S9O'7]&R,^]T,$"?MUDT@E;$K+.9C MK6 +"9->QF'H)2F.;J6QW5\Z?F+MQ2NM+ -C#)H9S:LD> @B+URD:4[:('>5 M5(XX9,^TZJ]G@L K\E>,!0$>3$T(K^<8_H7&X*U0L]D9S5FH[:F?>-E>1)DSY?8G0?3 M;1(PUA 0\V(TQE7;W 7/*D$FD*!*\Q7L5O?B5H$M^")7AKRA>+>N M=FU5TV1OZR#=1@$LE>KF)84*MPI3\YP 2PJIS6=&/EI, YZJ#IAU7"7O76 8 M]A-O:/UM3P@.A^'P'/"$)^'7ANP15B\.U WC3Z.ILXBBS":H7!3TJ"E3:*K7 M@7M[RP;NU5[3ZB:5086Y[%6 MSVPX,2%%BS&OV7_[\_\[/06__'CS_H]__^6G[2'_]'/TQS?^/[]^>OCY.7IW MF7]\^W7RYNL?7OWCW>8Y#;]^VO[S9?C7[$6VAG_]Y]>O/WPZVUYG+__GZNK5 M^H<73Y_.+WY^^>2OD_NE]\V?XG=W:^_CC_GFF^SC;[NM]X?W;VZ]\Q<_Y7=? M/ZYGN?^<>G]\_?8/-W];_>VG/X4_1%][^Y^CX.EO?SM;S^;AXY_^\S__FK[R MWO[SQ?7?_/W7\Q_C-Q__<_/3XO[RXRJ#]__,_;;UZ]^N;Q3_G5 MU\%__O#33_%A]O'E^N*WOWYZ_/#Q#Q]N;X)7YZN_1G#[]3=1^&;V7R M'?SFX]N;?WPZSX/_^?#FPS^R]/7SX<7SV=EOK\^CW/L^]_ZQ>?E\,7_U,,_^ M]NKYXIM7JU=O?GNZOOZ?[*=O/OWMW6[W_A^OE\]OXN#Q^0*I; MVX]G4@.,=_^0T!.:'Y#%5;3= 5>\=>O=U2-U2\O6P$@/98B\WU/'1S,ZF#I$ MZ,^EA^\2TO^.P9@F8%BOKJ,/(S7=3>D= M ZDJS29E,H(\F@IK". MY/'AS51X'/<4$),T19+X@D0S/\!HBP2TKMZNN)3UW#PUN+@,5$TFVOBV.?W$ M^<.K 0WK[%]UO)@7EJG66>VN89I">(TD(=IGAKT?#T0[32^\0Y!Y(?X+'*FT MC#X8]E\4M&$4]J,Z)/$60AP6SV%3)RY:8W9HNVS-4&5^]9++'ON&T=+^*KGP MPK!][1/WWFBJI'QG%]>Q&FB\XO!$-TR*V8Q\#5>:H3*5.\J@&BJ,(Z?JQ[&B M["-5-:OWW[%T0,FFCA1!,53"((&T*,;4,D\F$AV@3.0CU5 !'8:!OG5ZU;D7 MXFITJ]TB##QDM&=J>;+B%>RZ;H6P\"* &PEF]W02:7^"IX$HSEQ52%8G3QT6 M+#V^^159U@)H)E10[7+DYW:UC>T'V"G!Q7L:J!X 2A9NS*Z:UKOHKF6ZZ%)0"%EYE'9\CYQ7ZFGIPL==J>Y-RF=::.# ;\ M#%)NH<0:HOF664, "C?4K)I!:LW EEQQR1H*9*E80W;N'H\&=0^,1;2-]W ) M1WFM8FUC_66* 82P<'Y0C7<=<2B@4JN,(^> /?B#%R%&8A3';56BNK7CB@U< MP+B1#SAT$/Z&>PO4F894ZB(\$G>-I[_#BX$4)D_X@]M!=A:$*W>;98YN]X>U M2#=3M?5M3'(N$2*3Z#8.@^WS!G[*SD/5RA.B^9;55@$H'-8F,T QQ=W;F@(- M*AU5=DA3/K@.4OPTM\Z\+$]-&$&X@/7W6!$TO"SPET+AU>=%D;!_?(MBPQC:!C!8] M*K>:(*FCHL][5(K6\PFF+'"><#]'KU!<@/B&#ZZ0%D+":JT%7&MC*N0\>G02 MG]Z8L=ZEN*@XDIQ[+QLG'N1H!^M60WM_#J^@09A)JF&N&81-EB9+,([5IUFV MES[BN"3T'UQA_LD+<52'#4&CM+']!R4EN'B&(II$XM?(#XWI;F,@=4C<$C[* MJ# LVE"E[%75;[RP=O(4.XW!?&H;VV<^);A$Z9SORW3.:CIHS)]&0J<*L9F) MG5*D&+)A)^B7%L/&/XVD8G&WYG.;X,+NV?,MPA=I M$(6NWP.6=A8X2GEO!]4U5&'CYP*3Z41'J^8ZO15U*=UD/RULF#K!&AW[DLNB ML76G=Y\%MC2"P_YU:@*FO!]DT;VHU0>2,'&GU:EK =J'73B-(O7P:'QK/\$H MATBBQP]18,G9)M_4A<=-"A6__0V>!Y)ZHE/1JDS2]I6N.JT/HR@+YI0L!9IKN9:5/9A!_LHN1Y2Y>GH5)S!X MB&AM ?1MX+:FWI:8@VC#1I=3&XJ!.3 ._#NFL/)\/G0]4"X(&DNXYN[>3-+R M ?5"G*%.,/>2"&=VWL*$?&,6F%FVI6TA+(&'%T@0IRE 4V@,%'V$JT.H7+J( M%$G:9#T5%/0I-[$_)/ 126TDH6DPK;4H ^6]'5CZJK#Q0_;JZ0#SH]ML'ETR MM_V4&J@P-?-ODR!.:!8MTGUQGY-@%VR/6I6/G&.F#8,+ZT@72*ZQU)[K. C& ME/QM=Y0!9HPMJ27\V B\2>((_;B%C1J7@JTUW*M M;IKR0Y.#C5!EEO$]O]C [6,4A_'#\PWLI@1P8DP9TZQ'EG9AX+#,_ +4(\$O M=.S?W449\W%>Q9)RSJ9[JQ8];=-#D 39.LO](+X.]D$&?0U:B^9;#BP7@,(M M5T=G #H%%'.Z7&";"12HTNA*+#ZV<:8L;E;U!)/G"P.VX$ZV6^2!!P:''UY? M@FH&L@:_XC.$W>M#B1YU?JSHT(:]3]?Y?1KX@9<$,-T@RD,-7N#-M7XG< #A M/?Q'SS_&R8?TX&WAI!A!0HN*#T3'-7YHK9[RZ.-6LSL3YU^__Z'+>6G)>BG< M?O40/[TH!E/.*_YQS'2-!>VI,?6F'#[Y/D8FS0_X_UQS1!?AF-9'!S"IW4*\ MKU6)\K*P0ZISWPA7L*N "&'A"0-23@K787).976*U+>.],3#BV>D[-S'?:CP MDO<@"ZKR2_4T%E4^R/;+XY,*,3M*(ER1[JE3H$_A/3J%I1DG=30DOPY_7#V MS9]>(NM:WZO FVO=DN0 PN$ -!K@X=BE<"(T):W?(Q)J5#>(Z,"FMB2V3^%O M.;J)YD_H_\:3&>R-K(>*L:#@!8-58P$9/ F9(:17*]:+>](>(0@YNJSV,,&U MZ1-ORS8(!KIB.%LY22QGP\*[:HK1SF6+(M5:%XW@I.:1K/GA$ 9DT786U9C" M1KRE?;$CA(?#2>]AY,<)R]1Q(GB4J-@60?)3F[K"<7S5_!.RI:*'VIC2\4^( M%K#O%!= P[N=2,!<.:>VC"=A&"M0I[:+96_9<\X6BZ.<*31 M:,S!WFC@VT?$&TP >$$89"RH!D^"082D:@7?:B7S3&!Y '(7/FF5CZU\VVTJ&UL?W&(<&S1Y/%U295N[&J0" M1-RTP>CAE)1W )M6S!9#:9Q6L98NC97JM!QA1%M%3+)?[[!_1=GEBF8T6 O] MZYBMCI>TY/0XVI:;QX\^]#0+MEX(&GJW:^[@D($(+\:Y#).12[FVVO'9J:O1 M#^1X5]W;KJ11!4M2#>H$D&GMHE!.-6A3FK?<]#K(,<\:Y2S-44E'OO-:ZJ?[ M"T^F/TH8T+&ZIT]CI3N/H6X9F%.L>A"T 1+U>)80M)%[+DE9*"(ZW\PICF_ M%'6H5.GY2FBP:H)G-0BP>,U*O&QLYYEPUTF;UB+(QS*C&WN"*D9^(5D*T+@, MO)AK7:PG=[3>/0T0V-OA(=C4@LM#NKM5#E:'B^=$:PAR,2-/S 6BR@5L)X@2 MMH:7NJ/Z093VM1B6I */D4CEZA73$J)"AX@RJ15;@X1N3FWD.?7,JR1JMWZ!/ M5@Q@JJRV*3WT"':P^.[#AX*?]5=- .4,MW%E:O0J7X0D)S9)[=>P1$9Q736? M?R9G,0_L?.JH15.V;GM[CM+$V;307PLO9^6 MJLP$XI591'4QR++?YKC!/$K[6E3H5>#A7=+4*QA$S8JAY>P3@.P>5F+ %&MVR6\@>T+-Q7B- I)2LYO6&"4N:K> M/2I=Q-Z=*0/%A%/<.PZT2"7CF-Y7'%DVA MSN\:*=XKRG//:%3R[3%.L@U,]N=>].$Z]B+]2T2RA$7JBR'A9E2C2:=X%L#3 M )DGN$OL9U6K4*B15RW%P:!\HG>9*"QCPYFH"(LIQW#NE.FP#O]:442*>7+M M'0RQ6^O62_C>Z"$:)W9VL9R>WX6 VS>!# 1DI/-K2$ZF=C-$YB%[=#\LN _7 M.QO7E.9M99E-.& ()4^&)0\>SS>373S$BFG7;DC(/[199%E50$1#5SV>8U%1 M.=J:5P6]+NXR!>64@^/JZF =RD35:)0]Q(5X;[UGCU1 U%1+%9:QIFK(85$H M8$FJ$A=3)_7:H$ZPBE<4$6+H%Q.NKJ>P*BYETU>F!E(/AIK$VX >#=48JZO# MZKZY;X(,!PLM(C]X"OS<"W\,LD>B!>'6HH_!81.+ RW,'N)UM[4BV/3AXGEB M\"KXY:I>QVD1HAZ$+E_P31!CIODT5?!FUUOM^U)I(5NI)2K *-E3S-,A6R7@; 4_B:CHO(/SDACSKV",]OZ ZOU]0W MZP73;6DX?!!4F&)J<7UR>C2=D:*#F^DQS$6UG=JB)2QJ+V)(M-F#J:M,A$6$ M/FL9$HQ"=MIVET%@EV@!FR\>(D 4[>>I21$5XK2Z20O/;V9$LU?5M(9DB]B+ M#I:!8L(I$Q$HJJ22<4Q'J S]"?OQ-L($*85,)P*,%9 4GM@#GON5,S*VJ!Z$O@[0@$/1[D]IO+-8@]E=.53#-HVN06(0[ M!Q]SO-\'&6DO@L$E@#W :(M3QNO,2"YEZ]F4P,WYP*\7<"=DU0[(4*K5\>*$ M:H<$/L(H#9[@(MK&>[B$V6JW\3ZA?X6YCX"]C1,\?99E27"?9UC9V\1+A"W< MI3$.T9H/BRB#"+Z,_^4V]P%AG+:_2A?$'/3<++*/@-BAXVD4^(,5QK2!G[)S MI-%_X)%[\PC1#9L%"21"&=$[1S_NX@1_V%7<5X3CO@YT2:>7L/B0+#M9CA07 MUVR^SW%DSQ-LU*.=^?_(4R)_<''CW0YN$1>6_0[OD Y(DX/3582O&.[W6RW= M*JKH58L3J0W)\EBO:E=;I#^G ,W -[=#&=X?0UUN& KK [M!I>S2N'Y6NVOH MI77[2QX;'%5X"/$DX)6SG"I:@M-T2"8]N6U2\&MNH4N#1PPZ"82D%%E0YQ:3 M=C(@@F[I(3Q2AR(*"'#A)>"7^6Y^RURMIY@.JN3>9MWSJG UX6;.FZ($7[ MT_08+!*1:BMP/+A4Y:4LX-0.('D'L@RS&.BEFX1.P@SXB4GA"R7E">YW%N(./EV>/<4*+MWDI MR# ,6)4)"$A*7@<'91PJ='5HVT&E U6UM&MT:8E-B*"8VR1L05 %6C@HJ$&@ M99"AB0+[IG^Y?^$)KO*L]=URY4J5._P>9Z.')!M=U3'GBBSJI^<24!>!UHWX M:]R++'K 7%Y=&JNX&_&'&-)UB<3,'0L\T1D[E),CQ/[G>!,G MV8/W #$+R5^A]L5H^I6Y_)":<'<0W3V4;;UAE00/0>2%BS3-(?DJ<[YY6PX& M 1Y-Q5;>M&MM(Y<)?0?+@C,ZN-I7>88$0H0=G.=>B-\;5[M%&'@^]I5Q,5]/ M0K<'F442\? \XB=T:A\)C]0EAQP!+FRA6Z0L;8.#%ZYV1P[,M/!@4CN.^W5< M>$GRC E$N_PB51BW6$'*5TFP]!%"I)5ACU_QEP/U<%/#*'J@%2-\>(]U-P@^ M!MEC@/X80?(."]"5@B<5"@*VL)ZW(00!G0R1YN=CI_(NP!V'4W"<0IR6.<1? M\?^$OFS@@8](F\]@! Z(Q$$*L1UP\)[1'XA'^N-CL'U$.F<$[F'ER*2JIP?2 M ]P6$-0A 6C:(TQ.*OTGA$6!CXGS0TW*4,5V:- M#J]K,I4#<72;Q$]!BO[HA963[RI.;M%&C]CQ%_EK#R=F2Y\H&PN!NB(&YHI# ML1:A:(I6F\:#I?;)&=0UPIT+Z78'T1>,1ZQVS="6(N*%:[I4T_"WV8KF*0-] MG"I7DE-U"*:$!0HMA:_X9W"?Q!YB<^A!][@G8%BDJO_<.)1"RTX!U#9.G %W,FQBW6LE# M9#:2,+'B]T3_PFFC!G1/BZ6Q<;.M%Z/R5P; M[[%!;G9KD*FFE\9$N$7A^*I,H8S)*=->=ENP:=Z\+-P9K?JG[$':[E4Q48KV MO2?X%#>[)J:C+O9 5@_&T;XG7/$5@O4JSY 9QX/X/8S\F,\XZ^9U@/EE1U83 MLLT37=*AS6Z !$SZ"'1K<:)8+V#/MP7P8U'3ED$ZVR[37(292<,P.@0/JE6 MI7+D*(P;$]ZC2U#"/JQ M&.?PJVT#W"$"ZSQ.\!IG7BCUK9%1C4 8EWAM =S%*^,\[O&J%X%TC.TI1ARI MG$]"'&G&GV6*)1Y^Y*[KKLU5^+F%"2Z4Y3W U0X799>8T?X93CN:#U8T%DIS9=JE995>6I4JMGGP)^<$MSD$O9U@*D@WC&6>S)L>/P?-:7T1SCSH>A ME65P9J^BZ#"Y_RR\#["TPZ9)TZVS8(\YC*)G6:R@O=#_MI!CN]>/5LP[FYZ* M"[C5#>TD!5BUE+B94BPR,0<[)4G/=#"KJ&;'VC)U[\Y(I^^&IF'$9Q85-T[ M.0N[C*$.VT$9Q]+;%?&2\A8 MK:NG(1X)I!.=UMB1 =[$D=LX(';(^N[DK_&TM%G-GSPH\4(RUQM0VU MU43BC#ZW"':;L@-MO(70+QC^$*?8.ICA\O"!'W@)M_"Z;)Z[NU4&&4*IK@CPX!U'^VI.,(/NOR$BS+N!N'> RWO-IUSF#/HR5)=U+MY M]-+)@.MY U]VL@>GQ@KC)A#:=9F45P'2[3>/2##=0)S>Q_W*V<-=]X=A@-2E MANBD]I22)$DYRY5H10=?"O<'";[I9N"#)+;+5'.<.T M=CBU7=>58=Z*/"A"::FIW!.VTW[LOF+@:E,TX&S^Z0"C5"JS^#/H^ M:DC.;!']\XL-W#Y&<1@_/(MOZ.Y(EY=S%YH.EGE'L_FR(:U@Q'[E$$YSRN4C M%'&R*FX647H(DB!;9[D?Q-?!/D @B1E?,,6=IT %,-A*SFS+4^!M)@D\^5: M-,E=,=-AJVC:5:LNY#U_F%%Q+O%^LL4XK=7;!86AVO/-9>^C5:-G# M#+%0F^Y,Q[#0R,-<-"M@B;+/I&K>0K(S6POOKZ^\ M37P.Z<4H%DN"*0[#\?E ,;0\R9EM(?_G],/9-W]Z>1%_I61R8N-%VG/.=H%I&K6,A#_O AUTO_M4J;6+4I ML6I\ZP7^(F(#A/0$:5D ]25<&Q.*8#+M""TLV8]1E46>ND2]4DLXFW87:825 MQ!A^#;XA[2ETTCJ C&%/W^*PY)BP]5"LIB/27Q9 MLR:JT^O,X7F ;2NXNJ-L. M?92&WDW) FY#FU2A%+@VE1!D,^J[;(M,HZ"E(=_LX4[;:+-!ZM! >%*+3S:= MA@-,_UQKE+NL%-WF";;#)QO5ABE9ES!;[3;>)_2O,,=&4?'$/\NR)+C/,Q)< M&"_1N=&'B%8/"4-0!SD_G&O@?:92RGF H[!>^D>@B37/!#^8C26Y]>/_6*LX MO]34067>;+KX*RW\ZAU(\L@HF..V M/!P?KBYEI >WI\U5FQ% .(Y_EJ8P0T*?&^XIFN0NR%,$58<( M"@>WJ0GAO.MV"9CEQ8+W%3 '.[V$F!!U<"XXI,4KY3U$5 Y3L:!I#7(I65J M=##*.(O5XDVT*"\V@!N=+F0VJ&R>T^)-0LBZWFHE%-@*95A$3Y"6O5Y$93,& M!$?N\NSDW>OSDS'-X MFT@@X[]]"E'@)##.B"CBN1-XEA8#R*&/"D8LJK/708KE*(EC316K4HOFN+Q8 M1'!UK0GIP2U>(IW:[SSOF3 U3SA[6N7OE9R+.FB9@L_C70IW>7@=[(Y;B;"H MIKF,NWM($U -5XD 7[9NJ8JS9GOZ_**ZT'3PSCN:Q2^%F_\L MR@,4SW+H51<#UN5[A=/;>]=B)>!JI1L[KBK#@(AI(7(..S3,H< \@J1#$.:!;(C$/#U]\+S#K^5+ MPMLDS@]5> (S_;11*E(0NTE6 V2Y$U M")HK@FK)$T 6!715)Y]>/T0T"3H$ M2BU\2"68@C 5P:U83RF(!K[ CU)?G@ T&<0[@*:?@&9<"\AB<.NUVNXY(*_@ MM"P:2I%C\QNESODXD=6&I*/ +W3 MU\LXBMO9.D5W!F[WG,:$2H,LYGSI6K_CGH9%'\G1K9 !?_I' 3P*(>2K 7ML0AC',6FEH13_ZB_T#]_?I?B1S!J_.&*#4B9?B(7&;]2 M'2]?$I2K@OMG\ 5>& 31EZ!:&]2+GW DFZLWX4%PP]30^B/;\K76T&6P?QG[ MGQ_C$/N6:2"BAEI'S&$ZBZW8.=;LA.>3Z'D*N+%Z0ZTAR5)["R/$/2&";N;O M@XCH2(C)9-=5,?L$%/,)Y=HK@&()IR:HVBE9I-/!CUW+J>I_3A\?;J"7Y@D2 M TC=V2)C@C0&28.T%0K$?*5&ZP"RT F@2X%R+1!'H%H-D.7 +QOB=,++ K*N MZP]3%P\L*IOATBZ]CTHG+7-LLJ]V)(FJU0TF#;:(3R^#,,_HHS&S:%&Q&BB6 M W0][/JG]4= 8\T30OLM^;J+=1T3W0P9+-+W0:M%[6N^V\%MMMHU RU7$3MI ME6NWDS4PB9JAJ0#/G9YPEAV2>>4J(<;&RUWM-[J V%,:+B(??OH!/DL\ M8\5H0(8#--[)5\2%GNT:8Q[1YOOH>_@8;$,H34BDHZ;QMM&&F<7-K%,YD3+\ MZ-5TT^E4)A,\=+%3LAJHERL52*$<@7 >- MK'Q:YJ>FARK+A+S IX^RXG4G2#_=@'J::_^Q MX$!,][ 4 79]$TP_-/W>&[4NND/*8#P$_I&!3>QO86U1QO-F*^0*8!1S7T*; M88YH]ZZ#@[I!'//%2'CEO*>.1T*;9D3MRZN"N=JE_<1.T$;L'6:03N5"QSY. MQIG$#DTN$BP:(<4#_!W5@D442" M7<'=R!:A;M]9GCW&2?!/64X5('-.2F=Q/TD41 \I M$J4$&,6/I)Q&[C$R$0<*D^]%]-VX\>B*C\ATXJI@Q?9C-U*)2[\D+O=)@_?X M9 M;' 7@YQ&Z': ;6*4RTS'=M&HHL:UIX0X>&?83 M8Z$I:Y-=#2X>]J;PV,$\ L<]P3NKHXNZV=6(EEY3*&Q2W]OE=%#//P&<(G0N M+V[A,47WN )^[#ZX8L]#TP#\%\WN"?UGJJSOH1AB%^7_$B M63@"&0J*L>X9OPDYF\^[9[.H#@N>=M\F<SZHI =CNE+5$*( M-:O/^Z1@]=%![JV^)K =JZ][$MN)\Y2*XJQV.L:Q6Z\!+8M%.X>Q? UV0_JY M5E=CY.^]0YQ^5V8ZR'+Z75A?G6,QS2W.X>W:5T04W2;Q+N#J'V0(H&,<\W,# M6A9*.X>QG:.*K+:Z &VW>3B;57EC,R7 M4G7DV'0$-?LF-@IG=T0)A.#),W6!//)6=.ZET,>&!$2T)96Z#D71EP4)H$$Z M[2U":>'%Y7M*T5*G]W@M[!4EH0$S_)3^0"K%3^^5S>#L;#^J(0HMW59;ZOSX M]?L?>)3[?K5\"WY _^?D$ZGA:V+W&&J;=\1U$,'5[B*!/E]+JKV>>#2.@:'C MW;Y,-@!G^C$[![.)UB7,6 G;5:/6.F%;I_XB6N?W".# 2[@MV_'4 M,EX5D9'&59/@L(K4Z&,']4*N":IP5J9!JXHBJ^D<[?!6EK PZ?2+#_*:06M& M=#)36K>#D^NB3KSBCVTH0 F&6Q5T'-2R6&M,(MIVN^0(GH916M>%X_I:,JC#_.Z2^DC1V;# MLD5VM_H[?2$Y*=N2;&2QM(G *\*\+*.DS.,4*'YTBI%JN6 T:,PR#MT M928!IE$1)MG^13-@DK2J0%=R KT47D+ZW^J*;I;JH.4[1)&G)XRPTWKGNJK) M\>_:<:H$(E""!+XH@?JRJ7VU2Z90T-Q&XUFE HM=7?"!W73O9KR/8E23XSND M!3*+:(PSV;TYFCV*BX8,XEX(Q,=.QQ+3: (-$5K0LXT2SB%MEO[HO,N;&D*O M= (9AC%9)Q+O,)21.B0MK(K FR"*$P)N#4*_N!8I[1T0_OB4+!*R,6&]LHO, MV:&92J_NE%+*DI^DITDC"[XG?FV^*MPFN+YV]HQ?7S,$#?[<#OC&4 M5]X6T@:TO,><3N ;G@+H',>>6,Y)F'Y8X:F=E*X[3@$_$L#ZY>M8*?/=NVW" MU32U,,)42/L@UZID/,^#$.O)"*3RQ\7^D,1/U-TL3@0H9Q"Z5O]HSI]$[R:E M,[+(J($<=Y*SU)BQ+Z?9KU8Y@+@J5$A\;W2)PFTW);G*.Z=8[C[K7G2X)HUTT&'UMKV(4Z042%IBXD'X^^@VNG13,*=HS>8Q@:-#'.C-2EP>WGAC6$MIF MDE:/!IIT;!=M[-MDF=F6)).E-!<"JZ\X-482KE+, ?6D$^#M,ESI(0SCCT3# MV.%J2229"F $,(-;'#4GX!Z8&>PB19!=<3OS?9+R*55 M-1S@\3@3I)CAG!#L@S!I(#JSY1I\H9>F51WL57*'6[_-/\%D&Z3P-@FP%EH6 MR2[^FO(;"N#%&B7"<84Q,@7'J](E 5FS64:\&N0V)\\($4P%QARCECL4'/E; M:;@AD@])3H)MA=Y'AD.:SC\!Q0I=C^ $O-',,ZHXHP7(L7F]L9(\KX((W5#C M=)RNUOY,.TXKXX;Y)?='MN58J*K' 6G'A0'%W>M*+I;4=&@T?*#MS.C\QE<^ MV0K&2N=FD5@#858-G^3!BXK4!ISBB\#PO>)UX!9MAK.,2.&)&FI2^Y( K5'= MIKD/S9^N=B*>T.9>;::HMU.H@^/")AH8@TP#:10J6?4@S?>','Z&\!Q&($/P$@<:NBP2FH]T(D99-+:J]=+/E M2"UP6ED_A.!P;6!D1=DFTA!\+ QV_Q25QA'[?:EN3>H8X MY)P3W> M85BDE!W=,B6X$?C]TA4FUW!:?D[.>Y02=CZ77&]>H/Q J=MN2=P+,SP/3$]4 M6_Z:JXIK144"?B7QJE9=.=*EZM4!FVGOLL]F-\,+[B#2SFDRS*V7K!)B4OO$ MB5-&.?$%9C&[C$I!"^#G![I$X?NJ0L)-295-F%Q=U9^ FY(JWH!U7;X:6: M +XHIG[I]KE<>"RF-%) A-U2E_N#%R2D#WA"JXQZX6J':SV3AS>6/?]4FH0VPSM; M;4&IGVP2)8\D1V-^GBK8L.X::>JQ1'E55NW)Z!.2(=#NP.Y>E2>@R?7VQGEM M]GHK7\07T2'/TFOX!,/7XHSB.G AP'A62> S .O&5U:W10DY)]*&!; 0X+5 MD-9&GF8#WAJ M*'$93]>0I_3'%,%*PO^XX9.=F+K&&N4_\"HTAG)*:=Z"P[+(IXDI^P6EC@HP M7A9B69)IPRB7B>.3R]F,#!PW[V;BTW%>OU108OT9]0BH;FR[)JD8F0"N57*% M0ZI1C(<IOR#UD4PR;T#Z^U*FF58G"&I698(C-&&YAB E4 M0Q*=ATDAZ?EM9Y)?85&1B_!?Y(U?$0%-1KK . OB)H;Y)[)I$XK*XF^W^3XG M/4.:9I)1GX&49/.4R[5Z#3B58OK'9UKYADBTXJ6N^6R]]\+P/$^#"*;B 3IM/MR3//% M6?OT;&/>"(46E8&2OR[B_7T0$2#6&3S,MK_E >TL5Q9!HM M&4]Y0@*(RQ=$=E%%N@5H['$"\"Z@LC=U(EKE;5\& M>&,QSN!DL=L(@Y=#H)$_,9D.&;RS,*U \<$M%\!I52A1JWI[7)]%4M36\?M= M]UR2USL>(BP(W+9NG%P@]>DA3K@)IPV%/P'E8,T8TV0AT[Z,/]@=@;,-TFP4'D[NB\L=:SD956SY]. MT1+F\>2OJ@*L6/T8N D\[U*XR\/K8">(Z1&V8Z$+ +S"1#.;ZB.RHWT4,6-9 MN]CO _K(@V"BB8X/,-H6@>**A24:JQ"RM=91J!CA2/?0.3I;&]%'GN7WUX:E MT"O:<3H1CAJ1C;R(Q@FX&_D75CT%WU"'$')\C,LX.B2QGV_;[OF).18U78C3 M>EKA=!Q&8T=0X/&RGUT;9S1V&.6]1JK=X("!0D]P=, @ 25N8@0&B!8QQ:55 M;8?4N"WX4$)16C&8CIT,J1CPLVC!/:;%;XL9D4:K*58E,R3*""=JKUFLI*N> M3"5HCWU4%K6T,657B2')"32OHMF8B<3++^%'\A=^VB:>7&1EM-M652D;N'81 M7<3MMZ5T3J:'1!U!4_":D%!K!.(6UZM[X'Y\ L\)#4@G_7"+15R;R\)\,=?/HR29PETCVKU>RP7J=^BRV5$[V%..SQ*S\W\&'719EF8 M5N 5)?7GG[:/N$(B=A[@>SJM2D8VRDC>QO2!7+_-9]G4H-P&5/NU5L,C2G51'CQ=@VT>B,[LWEO"*)'>TUO"JD(_&1-<'PL:WA(I+NW&O+72;BO8<,LN[@W# M3$*N^O:1J:ZCWP2G8I%*C@5[N167\9:8*=3"G$?^)=)(N!9<,;@PN)'"CTQP M--Y9R!43^B;*)4>T:CT7=4S>)G%^2*M^J>P09XV7TJI6#%VXV<&6$S1^,M7W MT[XH8EKC@Z#=9G70;L.TLG5SGVQ#8:>Z9KMN[21$5T_M?;#$>7OOC_C)! LB MT$TSMM!4I[U8A(?2?!RLT& W*Z@I=,0RAUA$$C.P+>+E$OX$4,.Q6-9UDI 9 M,J3"7!>OEO/"JIBYU>X:(EZ$U]!+L2)>-S!)B[Y]^"]\%TMC*5(/CBP&BM6: M_5!P.@A=$- 5G=_G^DA@.]0-<6F[,D7G?905LRMX '9ANTB??EFGLOEJ@;1V M9+.V*YN)\_#I%# #1S7=)I&(+S@/TX],**B'2FR_+^K5,P-3[!>9WYJ\6V-AJ2IK=) MO N$-2[TW1AD84!7+IR5CO,2C)'2TYW!1+'E2*/\/H6_Y4B"SY]("3_IMUA- M '3&=+Y&WE&8'Z3XW%9U]W,O#=+5KM&A4L?^(K.Q#ZF>/]56GFH'99%+!T53 MJ3=K%K9>%9OM9M1-1?%HGDY9Z^BBQ':27:LTL:0LSW%U9E9-'B>^5]8AV.Y5 M_G&M>I=H.[ZC)GRS[,)+DF?T'8N=%65OPVX'1 ^'!M$EJ!?#;=\;E5,R'1KJ MZ''74(_6=ICE&5)B@W]"7[G;!IT(ZIFNWR[$YV(12 43=LN(Y(=#&,#D I\6 M1QQC1?(N2&7N\V(::,T#>"*K&X<3]4UX,+82IX +ZWT":.3 K1?X@N?Z*K\" MC\-^OM)J*EZ\,'=581DGS,Q0UYI!ZYQL/8"!"JL?2]FSB%K=";Z_1".0:N%)#T;_8;O*2@##>GX(IT=SW!5T9ES M@":RI>=TD.L5[P0N\ZL\RQ/(<)P;9 5)0HKH5JVGB:H?X42S@H9 '?,F&IPT M]OO--[Q0KQBELT/3UW>(S(?)_#LT.Q.Z[8T38#:4G?,(-FB=_==R8B\# M#REQ\YJ =?/'./1ADM+JP+BDCT:X=7.!WWN'./VNK,F,%Y)&5KM*0U'+,C4U'.@DNV*U>QO'?KI&YQGND8*LC"]!LC; BW\^$9?':.GY3,'&LJ7* MP6WEBZ9[:*F915I+6]&T3$/A0<3J9N?$EK_&.YAY003]N9=$N#&YV,U0C@;E M\*FT^F0?@_5AB YLTP?'R?VC>9ZMW#]:43!'OVNW4S#(J:Q6;_@93D"] ;-+ MQ732*Q61PR+[$.BV^I*?0]QNC32CN?621L7]6>37<3E<*9E#VOR.]O I5G!* M4\43,2\S'618M-A9WF,:;*GK0S\.T9R(\YR"I>HX;QY]NDKEJEW&8-C@E]J1 MV[*EG1:6[H6:GKHE%]FV:V!=5$V&B\JP6/J7]9Z:["MNU%PO4S5J)LZSND 6 MYX-V5A!+_>#L=V9]U-G^] M!5-7)*[QNYS""NT > E 7$JR\FU\4<[]T3C_A MT42! 4)L6'Q$H-U3YGN8/" I@"3&Q^P1YUEXD:Q#3#D'T$F@F.6())*S'!MY MTF/;[L19Z$MW\(!=N=$#KF+%-[(+$A230#4+T&EN6W2RC\*F@.C8=J/8B]OO M"AV&7<>@S%N_A0D.A]LBU?8R"',D;8F,%<29-;H18USQ2DB04)M*I<%567BE M)IJE!1 X@,!33"<0T5O.I58S $;9;]H#$9L'>R_C)=6@4%F'5N GGA+!\%]Q52XY#,G"_@)8DBJJ8(<"DDM.'EL3G!WL M6=L#R[^/GK9LMQ[V#"WMA6)@B#%PCCW@"] $2TM, [*+1+$-\A)H2'$:W&N!I/ M+N%J3/[>S1,ZC@,?+_XT'^DZ">LM' M"0QW%]'*[]RG];KF2 <"P8;N=%8KY+#N$&V=5+6 ELA%_AZW(PZMAF&V#0\B M(1%[\P8W6\QV(HG_Q]FZ2S":U"$N8^V U.; 0EW A]D'O(V=Z'"NW63LP]<@ MS4Q?EK&$ZDT&[UAN.H5Q!N@="70 Z5:Q QU8N'"\Q3DY@'SET"MX M.,POXR(FD93/@(DP*.Q&KWAC(TY]5?5T=-NWVL%.;[0/) M2/$ZYWCI6] 5IGI.ME6=?*D))3MA5I7IX1-";'/H!L4XGW'(!:A5$/!ZJX7\ M=Q'!QK#IOB$S" ZS'KK6(47GI R^GWJQ ]=^=U^3/=T#9 #'99EK"/".)2>; M=N$K+-9/Z-OJA)MH>&%25%P$0L+RY@OVBAI6-1)[&OO/LI9&Q9U6:B<4/WQ" M,,(L,1.IAL5EYPSFS:C+8)'3QVGMZ5. 5 M#,? @=U03-> -U4XZOKU +XGD MV-#$YC4N_#2]I@8S% "T&*T$1KI1(>Y&BW)&_0V@*)T'FF$,&Y5GQ0U_YD0# M9O%70ZB*>5MLC08'!W:%Z"!A/026F@^1D-3\F1/.OR/TRO6A;>@ 692XJ7[3 MT .K/'9:P\ :@)DBA__'P %DT,:TJ+FS]Z;R.[<;&UB3#H&'MUHE MO%UR'HLKSD(5N%Y<3,!-ZMW7)"OXCFMR?^KOA-:\]+% S)W2@ZKES@Q;82&+ M54FO4HNBCA9'&HG/\MOIG,BC<%K>R5EJU!$_2'CX=1RF>4 >J4)79$L)[8*9 MC1N"H6R#=^[6*MGP+VE9XX%K.YR"7>!^=$I)H%>[+*I:."@>2+9+FZ;8%MEH MGFL(I>9R5\/&*Y&$7@MPI7=MWXD-BF,N!V"SV1(N(N/;,.7P*FU(SB1#-S\Q MO!YB]NJ]?^4^?6>/+M_2FLY7GF'X-VE:DM.M4"'Q/57LD:9M?CU8ZZZSSL\V MK/=$'X$.\R.Z5W%$EZ-DH_2,@8-3Z5BU ^E;$^-L/%/TW+<'KX(PB&]G3O>_,%%U?X MT!0E:>C)^;*ANRT[,1];LK_,OA^*AL<$"_ /52^,X;32!S5A&:LL7"']U^C[ M5WTG6N=T'Z3=)UK_*P6CTL'=<81;\1&>+BH_$S8$_A2,@J;%Z02 '2=:416K M?;^G(F<5U-DH]]+U8SX311LJ5=9*6"E5NP@J;=EH@@]$%P^0*WA0$JD:U6=$ MEGFG0MVTY,6=9"HZT+))F8AZ=9-W$E$DHC?!H-(YCULA\*H>2$[("\G7]9=T MMQLFE%M1D46RMFK.ZBB(#L9)^2-8Y'!Y]TY*00O^#!XA5Q_TQP=P5?L/&^)K M+^)OJ\R/Q6IQ/-Z1]ID55F!KF>W Z[>2U,USL7>K*5+]$#TD?1>KI.LD&BW$ MFUA(6C,YA7V3,P:9-,,HDT9XR9VW"5OT3S,._VE\TAY"W 27<@6\)Q['8LQ; MI$R"8M*HC-;D\E#!X1:Z(*'Y< (977[3D.\'^O$_7ND?%Z:\ M>CGA;P,6EA J!T0"J&&8:0V,L:>5"[LFVR(359:A>+4IWMZO>L4VV3IT]24W M?9!\?+D2#*8!\DC0@W8A* /H[1'P"C"H0C"G_SP6&/S]2_B(J7G*2:=JMXV M'$SKL5N&736[U10<([ $':2!VJ4/-Y WS6G,2'=CD24.7!810]A-?VGK:C^ M1I$H(FY,-/M%V=@YINF$U9 ^^CMMJ]JD1+#2AQRM@RDSZJ7GFFP[+G .;--F MP]D@&U)V7'SZG>S:1CTY8T_./IV??3[_[4>3_V+X J;R.OPT8Q1HHI$O)?_P MUP)#A4/B&-I:)C0-%_,R\=_2TYL;VSYT"O1?0;?BC4?@G@WL56%I#6Y?-8L) MG!I#(O5+B=?D:.JV[^LQ(V5:%]7EC\)G;M"VVKR@O\9SPMPYTI0P#L T(^0K M]&2A+X6Y+SDEPJ:!G3"AC\G1TPGR37*;/J$_6# [(^E_4$L#!!0 ( '5; M'U%5?2!W^#4 '!@ P 5 &UL[7UM=]RV MCO#W_17>[)?G.?>X3IRV27K:NV<\MG/=.![7=I+V[MF30TN<&38:::J7L2>_ M?DEI-"-I2(FD0%%R\^5>U[$ $ !$ 2!G__[<>$=K' 8D<#_Y=F+[YX_.\"^ M$[C$G_WR[,/MX>AV?''Q[+__>7#P'S__Y^'AP5OLXQ#%V#VX7Q^,@\7RUB$' M=R'RHVD0+@[^7[SX_P>'!_,X7OYT=/3P\/"=0_\F!_[!*)D=O'QQ\.+Y3S]\_]/WWQ^\3_ M>O,\0(=$C^*D>\P!!'Y*4I_>1DX*$XYV4C7 M@? OV'\=YG]VR'YU^.+X\.6+[QXC]UG&MX.#G\/ PS=X>I!2_E.\7N)?GD5D ML?080>GOYB&>TM]A0@X9!Y^_S$#\%_O-Y_#S./"CP",NX_T)\MA2;N<8Q\\. M&.@/-Q?;13ASXJ,'XKO1.HKQ(A7A$?NC(R&,(_-T?KY&(?;C.8Z)@[P(@NPJ M2$.KN* ;;(%O8_KS@J+3I;P*)J,6AMS;.>7$//!<:AG._DI(O+ZC0(Z#\*4* MM3504F+!.3M&T?S<"QYT6;K]GI('0MPICIR0+)E-"*8G241\'$7(=R?A#/GD M:VHL5(B5@@?'VU,2.8$?$S_![F3)##^%K[35!! @=?7"IW9X1NX]/(HB'"N1 MM_H,]MB.I1:96@\47R%%6/B$,0,-^&P?.EXV-.\53XA E@\[['-;M.-0W M:&S@-"T6)&8NBQJN<6H<9C3F)%B1/B$4P#V*AY%7FHD#:)[\PTR*^# M V;FJ[Y-G4X!!-A L^KGU,D4PH UI!R/ITYK+1PPT;,CJIMX.)BB5'!T:W@$ MW1./Q'2;+S"*DA#3B'>*2+A"7I(1H,1S/0R0CG=+P3(,Z":B(.A)CGD#:G7) MDGF&%JMJ@ EU/M@AC%E\XJ66 #\Z<[KOTCQ+BR740C2@:B&F1LVA&H RNWR/ M(GJ,]EV7> F-PGP<>T$44:Y&[%C88F$ZB !C@BT=#@K#-76?:,'\*&7X''^\ M.(MX&X+XCI>XV"4LNX 24PM)%52$KAM5M<2)Z@O MWQ)U3QVQMW7$>@NKP#"B9<[.&[OXOHV_X$+J,HMTBF-$U-*@*F#!_ 4_]M6A MOA80H+I4HV -6D4@X+SP7@BL0:48")0B\Z-?#5+K 0$*7Y1"TJ"Y"12@1]I/ M*NFH@Q@*:/:^D&;2TP0. $@"17DF+6*;@,%9A$KZ24?N?&A M>+W *:'RV/UP$.:8/'2/O5^>)='A#*'EY^U5WF1ZG@?;UT%$&-6C^XCJN!.7 M.;LA,KT_I@?Q^_02>0/NB''\"'MQE/\FE<'A\Q>;N^3_4L*;N0#E-67^;IR$ M[&+5Y"+XB+94%S5@%)97@$(GIXC^6!+__NW\YB^.ENE5\2'5#V^K.=,P6.B) M,PX:61:$U!#_\NPY*]&@JYEB^N_N9<9M(;4IJ3$UX#C]2UTILGM1NL?8_[%[ MW!7RF#T8Q>/-&?,CR_"8D*H2K>?:1J O6@M42Z+7],2/B'OVN,1^A*G^3>(Y#DM+ M,R%8&;1'_QR&>*58N)'R<7LIZ\GY/0J_X#31R8$R\4S%$GRF;01 MW4M;HC.^&7G;;@#2XN^P[S7$%,3(:VE'"WO>9!S+0[-SY@,*8[G\@G.%FKXP MN]6[9K=Z[-"8W^I=84-.L :?[6U8H]!EYU?',YNGDG0!U=2J(4D*<5G=FY(B M%#,*;#^VM*B&+:G5/("*D')NM @F*ZZN14!B+A(9@CPJHM )#B%$<;F[IN\@ MBU:#;8BIM#KF09W7M#*]>S=MU+&RBZQH6XQM(,W;B-1V1-*LZT7A2C 1+)6F MES4M7U+F9!D\YS5@M'Q*5Q-O$_< CQ*M,J7FI2K 9#?KK29,$;/ DF::$@P3 MBFYO)8:$*$ VJ%U9PS/;6;33!-\%A2(+L_*LP68S4E*39AW+6F3;6L='&RW+ M7KC>H<X!7V$Y.N4H!I2*Y2Q*R-$'^TXBJ[ M\9%"YS@4V=6XQ5=V;BT*%%T%OM-I!H&#<) W&0T\!(Q[M"0<^#-V"C[%]_&. M/".BY6/JC7$5*WA)F@)^P>4*6N]4P_NR+P&JI+R*?&EQZ(=(QA9+HK.&)A?I MTZGT#768<->$/G8/4.A3RUT-'*<9)&DZ<=M[R1X24I@M>KF M)"4JPSRPLZAFUC8G**VQ8.U!0SS'?D16.,M+7@91=!Z$F,S\+$'B9$\ALS85 M(_?/)(HWM663Z1UZ-)3O!2=S*$;!A(1L7A3L1XC='*J&(G >?UKMZ:[HP5BI8QZ!X' MMF"HNN +)GFCQ.ZPV([-])/69(W# M=-2&^4M!(>;>&(V]8$-\W2=FH^U:D#*=*5'1*(GG04B^5F^;3(AY#V-?/+B" M=/>Y9O6Q*X\XWN6A.7'VX,)17XZ5RT> +BM00IPD,1L$QE(R74FRB'*8XBPQ M#:Z LF7%19=^50;M(*RN%/_ ZJ=:2K@+5UJ'KB>AO*Q A3X4XBD)B"@-6]]: M?,.(>>M9!GC-!"[0S\^MB'3 \F0'P/MC;H]9N!*KS+36M?P6,R;2_ M"%6+_;%Y!68D8;N%;=N0-8BH7 25\\/V&7T<1/%DNJ''C*$J(AB0C"J,9,P3MHK^W81!%UV$P-5-<6 1O\RRF()\21^ Z36FU ,L&=_BS36]5 MLZT5A<@L'[049%?#,*NUGZ>8HG2RB5PCWQT5IA*9$&4=.KMGK$:-+K_UKN&: MS6DF0$FBP9%^*RLI6:U;&XB\1\LAD?YE08# 2K*"R=T52E5>$+8/)# M,_V!B#\)F?&=^+?(PYL"K@N?37E M:V._3K"/#5U[-F"T9/=EE;5T6]W .[LS)/)NP!V*M@FE#5NL(]A&UED>1M>A M2.NWZ3#$V23&UA4,9D*TOK3-,$3IDPG,6O75 .B^H*)]IR1RLB6P1D[;)2B% M9$TP>B[81A9L)//&VLR#+8$%^LIJR/V3R@'!B(,'(LV&BDBJ?BD.@)*$W4@P M*]@S==%<@#Z<8K@B2_)@3DJ90M'Z].Q%!J"338FRN$G>>^)8*- MR]IZ.9RN*'=BZC1\+UW7I"JE$CJ)O^Z_Z:Q9>2X):P/<=N;(A.D[WO$<^3,\\=^C\ N.;[&3A)PY)8+=T@S%EO&2$H@$ M$VPV1%>]?::KRVK-.V^[;(C2WN]D4Q*R4G/"64=.D4X"1 MPW #[#4?>(O68^N8U):D7OLK,+[#C3P"=6SZ)M-R M[N@OIL\OK!(;"*>& K MV;$%M%2* 67;;)7)4/R,ZNM4@5E_#M::0RFK4 ^A[XFZAO7G1R1;WJ3Y_H]2 M?H(BXE"3-Z]"H@D]:D)I([VBK V-?+,Q\^X3C5GG%/MH175OA@M+*7;L M4@H1%$'VO(1#E4'YUK02H%>(O4I82_/)-"6W0&T'.U:3$BL!I-X>*&YM7;X# M/H[MM %>NK#2B)\["NXX"%\^:SD"9/-PL02[HQDX-8BU\XK?QN ,: Q.L^;) MS\%I)X0,.TL@!#[K^V)\& X783_:C#9/L>!S"V(D3LM>L>8&L>PCZ4G/YCK- M%?2'K0Q>Z;Q5YI@W0)PG.I6)Z<.22BT+K!XV!0/"S>VL>H3],(FRFZR!>5;[ M053GA)N3J #30+9F$[_@QE(8&Z=N<+-*(^_% !+I?2O/4\OWW_Q;2G,"K\77 MFZ.$K)SKN6?CII)1 MPT2#*-_=_#[M<<*\DF2,#XZVSUO?!)>A#NP VI)I<_?JT@IOO^V'$4Z#-4&' MLC YZ9NZ29-610%5KP\"4.P$G(0)9D&Z40=E7+TX[ZM;"0UM:-W-T5SX05>P MHJ@HYR?34WPO5T'8 OP@W8,4WUHT\0+W CQ_!BEI*?C]N(MM&P8(!0W0$\S, MECX-?,[$O-9;>0MVL'Y&D((M1;N0+UQDTP[;:=1>#2R#"+D M3:97XPLIB?&_[*],!"MMTX:I=7']WZ6UG5R&C-?53B,-QIGF_JW[C[)0%-K_ M:"2>VLH(_N5\UO12]'3^.N6FB4W:\0H&80BZEBK8 RN;]^EF6L?!W:CW7.?@ MA)!KDT9"+;N?/?-;#[_;NS4VI!W\*_7>&Q@N>W*Y::2^]N76]?,YEM8+/.*R M L\QBN;G7O#PK,WE_O8)4PY-T"H4_,WK'2_^+BQ]((USF?JI24QFT9:]!P= M+-C O:Q_&G4#=.DF-JDA)O%C:M 6)%F8=]T\I$_# M'$@PUTJY6N$<$6)JFDYQ]O\7_LA)R8MNL(/)RE0S+BF\PPT*U-BK4<<&G ZH M$)E&,L3-)RYO)O125Y9>89H+Z#4IL5K?:$I1Y&2@4S$'Z#O$^GV-UMW;CASI MT_ =$LR%&XH()_XPH100=$\\3EF100VHXGVBWF./O59+_80D%J; =VT*!.B? ML%$0,1QP!"2,[ :OL)]TI!)5I$]5$?:8"SBEPVR5 N_^PF[% I>BIW!? MT%8H;8H*R_-XM%K&RI'.O84UHE'M"!I^B-)2("V*"MO'+O(1U='Q=.HHZOELY6>NY1"!V.W_*!J)+H+$=QP-@+I M91PAH?1,I,TAIV* MRM12(+:KW.298-<8/8W(D\M6N"GJD!IP3GSD.[8CSSHJGD;D64?LSHN<'I MX()K%,9R!PO1MSU-:$N*2L@1L'$Z:COQ)J_BG$R+]&S(E"MR;8+1PPA,4EJ- MW-&(K<3'O[86E#6K8711;[%K3V/:CO*1#GN3*C 7K-.OV;C*\M%?EJ*GX(3; M"J5%0&;DZ,\AW.[17YZ@X3H>((& OQM&?R]86*@!Q]#^;3K%# MUW7VZ*0]J&[H2B<^HW[DITTN6)^6%?+V7U0!/)*F; M74O;]N6)]EI[IZ@#B:# E:[-I0G<1*U62S#3+*RU-OT]C5BA-9E&IH#744YI MDCDW"A V<)%+^BD#'4Y*J"A^==[9F.0CIK(Y\:,L7U'FYLE(MC8O W&6UNKF MERR77GI(1%Y^2#S+?F&VJY\,WEZT!I4\/,LQ$FZ@CHJP^=VE!#NT,NK4H@04 M5)-) F)N:;MS:.'YD"2K=W]O5=>5.5U8)]P-H][SJ$SHUXBXU&";,%55%+:K M-Q2%)>24[0*NTF,[@]+;PS(TPU;',+B1H%J)^*S_SJXXS'>WX5':8=EHX94T M\B'%$0HLA9O'ICGFYSP(SY,X";%HNN1'[+N!^B ^:;A6CP>JNE^9_B///+AP M1E_.-]C%BV76@:=0 W85Q*R=QO;YM$*1M/4EZ+^\%$;4==U0R)YZA>BQP&BU'SLTZ4YHT RXAX&-I MMUN9GY;4K##C0Z.,S9_#O0V#9&ET2ZN2H!TCE^%M;QCY^#O:V:UILNJ -;6G MTH6^I5"&O)GW.B#K^;"W0> ^$,^CG*]"W+',Y!Y6(T _22X&;G27RJ"U[%*U M5*"2E6IF+>Q Z.*Y'H2Z<^ # M%&BW$E$EO>U<:^5XG5YU-W%@P':[^"ZK,$PTL]Y:1E $T:0A;\2I;=)%D#L* MC530V[[ND15\T1$HL7? VZPX6O443XE#8OT=MC^G-4VH&IU-68NQ15D.%W!' MFTL>N=V+-1EIU\_Q%3)UR*=[ZI8="K.0HM,T\23ZPK(J'RBX,$;$-]U)HQZA M=KO+(CL8BHYVD11>FQM(2KZE6F4I3@[8&[$GV"0=#H]\-RO7G&&?711H9LAV M !FC2Q"[.B&K<'K(W8UT1\5\)!7NV2E][ MZ.W$*ABSMA.5J;"''AIM+V[^_/EFG/ZW_9D44 M;P,*)(U&0C]C@%K:K>Y[NZEBN1*%VO5;&L)^2=)B*%8"D40Z0JD%8#N'(R>7 M>AX MN+2VNTG*"+19%I9RKI65C [7Q+S,(2LRDZX,GO-T^^NN'3-26+';$FQ"V'>$CBEF2EU=G?>SG1,45.8O93 M)TGE KHAB;:6;6#OFO0NMO.9PEW8Z!IL-C.4:L*L8QG48&[-)K9+',;K:P_Y M,?4;S&GH0+#2N ?U)D*>HQKCN&$?%R^6U'ND[R[#W8R=R\"?79(5=K-B MTP[T0(N.(5ER/4;KC-P&/#YMIGM2PQ7,?-+1T;@9Z;#.QQ),!!RMK5EX3-=\ M@B+LCH,%F_V>O=A:;IYQ7:1!"%539L\,AN8Z9 S'_6LQ&6S@MMXA+0@QF?GC MA"+UG7)5GN^F_^EEY3,=V 5]8H;D)UJPW/($[C,4^G21K&5HJNH=J$03RN$8 MAT;FPIE Y2[-'&FVTEAJ"4\>SG^+%'P'B-6N^A.?&HR M:*A(,:7W[&8#<%4:AK7EU%ELI^%48Y+13L*V)TTO@!*U9NJ1M'(SSAR[B<F+M8OIOK7'DMZE'U%(&-_ROH=G%#U[ MDM;1SFQ&;SOL ^A[I<3M ;_DJ[85:G?(^MLTNBHX?^*3&*=7N%Q>=A5Z29-A M,\)JW05+B^^VI^WE1 =U1&+((PW^8ZS1W9'B+O3(A#ZGH1ZP4@*^!V+ MY79LA5#M[]:5;6MT.NS/UH1S,)W:&IDWW'>F@KY>>F>:/K9N*U0AYX!3X1EW M2?4(T_SBS_]Y>'CP/Y_>?_SA?__G=V>9//[A__#&_?IJ-?MC[7\X31[>O@K? MO'IW_.>'NW7DO5HY7Y][O\9'\2W^]>NKEU\>7SB7\?-_GY\?W[X[6CV>C/]X MOG)OP_LK]/K'X,/-+7KXE-R]CA_^FCKH^X]OKM')T>_)S:OY[2AQUQ'ZX>7; M[]__-OGM]Q^]=_XKM/C#)ZO??GMQ.SKSYC_^XQ^_1L?H[=>CR]_[ ?/DS MCEZNET?K%R_^>GGB)^A?"?KS[OEZ?'8\.XM_.UZ/7Q]/CM_\M;J\_'?\^^O' MWSY,W0_D77#R]>;5Z?.7/ZRN'Z=G7V^^HG>SK][\]\>5^_[AE_\]&-_>'!Y: M,2_R+?4D-7/0#1VVP0A*XP[DNQX]B1(O/7XN-K<3*)XB$J[8M<5=WC%2<7[% MUD)G\0V-GBYW>/);D%&\NQY1L4GZT)7]MB1& M7MM*8K:5@>S,!''OK1NDH7\>]=I<+VUIVFR"M(9EG]#38(&(D?(Q-0(L7R6I M;2VN&LCQN1 : 1B""W^9Q%%*WXOW>'&/0Z.2Y*"S>R &$!N/A99+#WBT'79:=D"P>K+!TTY5ID$ MEW-0$=E'&GEBCRLI01Q3_L)VS:DB\RO+M90(B,+X\PU[LR#I]>C?%[8&_:_J MMB@#M#KU1L.95=BA+Q1==\4(>$]\LD@6TB9+2B9EH);B#*ZVY7RO+!OZ9=U M-%#E=%'(+K4XI@DQ?8CP-/$NR=3("4T&K>5P6/Z$)R6Y(C^?0IXCWG6BP9N7 M;R&*"T4H>CF.0H.;_$'=#1(-IVO,<#1!4XPKM?)EM8PR5C11B]7BL@7ID0Z6 M7DZ16$V22"JY=FJ\7N4J)2 JFL!K3I7AV8\@!2)M #&DZPZ9G\ M6:A 46 O)I^+# M#<7 Y9($F%"L*-:V,5D9UG"*%&1/'_7A68638(& O5-[B)W =XA'4,;/>]9Q MA#+3S3J.^#CV@BA:4G)9/Y+\,*]WE+\IX9I,*]U-KG!\27'EO4\T3_B:2'3[ MH%)X6:].!M5$8JR,P-:M!I00RQT-2ZRSVSMM1\DY77 V&3@A_FS7+H3^A9>X M:4N?,.5X'(?D/HG3%V;!%64*Z_,4>!Z[]]ST!C&A$(8HM?M&!DZK3 E2_RA! MXZO[ %A!^1UM*)LFTSOT:%[M&O!;KCDRI4U-7+= MO;.GBYPD<<2J#S=-*PO<,*$LFI0\&;71E83^8:MJ9"#Z]5?(,]FB0Q;UD]$0 M:5Y;'L+9[$[I"C9$IPNQ$_)4B;!:=Z6XC]2BESUV0QY"C48EE/(*)SI2&#VR M[!:+@.F0IDQLSUQO6+\%'V2U>JV%.C1R4C]JY00=EM)8#@K#-5TE6K"^N\$T MGN./%V<1[VD228]_F,9?](^00X$MD<^^=;9CR[$[S?LS1WG/YJAU-Y7QAL91 M2B/=?I1&UAF8TQ[B8D/CA4__:%2@<5R@<=M#>MM76M#8MC%GUB5EV@?@4J_6 M[1F>:]XV _9,& D-*JQ7EUA0O*(!TA&RE03_^$GCO#8$IB4Q<1+:BQ?VLQ'#W< MDZ2-21 ;:EC^FYTEE,(*T;=_6R40,A.ZM,*8=9G02#G<-#6V;%I*I%B*K!IV MA^;&+S-9(P 2.!_3NE%F1@^\#X\B.\DA.;%5&NVT]+%#R+0S7 M$=]&[53FW()'X/LD2N173_ T"#=#? W=QT.19K?NP[YBPLAWHZE \W-"FE MWFPAJ"[*8C0GZ_?HSR DZ(:,G=$7J$% M-M@J69$$RVT[U3>0I%KP^5UNF:PCXDVX6T%FK#M1';I!BZZ6CY9> =Y@%R^6 MV=V"J_*XC/NA[3;D>O+A\\!RG6P^%L[BM9DKDGY_;%#IX9B*M7^DX M%9'A[.T!5E.)XNR-F>&/[]X>GNRZS69E-1F1<=#69&,Y MM M3:2R1*HPAV4>E3EF>W16DZZ^'(JN2J_H^R>WHA^>W(I^?$(K&CE.LD@\5N8Q M6K#6'5FKIXY7***BO_EYW?!3R&_ ,78=Z4CG46J-E@"O^ H;:*>Y10- ME1I&G:=XLUZ:ND5N[?$9B5R+9&U>)EQ1F=X]8&^%WP=^/.\ZTR-#D>U:?S#E MD?73,E*R^Z!6C?H_, KO'@+[JI438O_I6@]T:BL5VS/(U:FF&M3QS4H]*=8[ M O1%G3+!V'CAJD_T>9"8F8:N1XGEET4]T:1,*'T^F KHIG_;$V5BE'Q3IIU0 M;)T%Q?3N'?65;P;RH_M3D7$#KS3>#_:M/_L]\K]X ?+;MY\ZH9 N&23-,^K^ M]\K'@?=4]#,TPPR,%/;2![;/=4(&,DTL+\UJ3T:6 9M,QQ0C,9(:+,'OM5#X M'+'=VO!V3G7E#H>+DR ,@P?6F\^$F'AH+-M^*6%QV0-VNZLBL+L@1MZ69BF# M5?FDS_RNK@XP>-9G,K];J0;K!8#LOCY5D(>($5!1J5(,L=V1.76\QL1RX80< M*/L)MUI1R3($+/[4$]_T36MW/ LVI;CKX<\E)SZT!6F%H">G5VJ385# MM&X3YQU IIZZ#9<%4'2&PH;$=\@2>26H5T&,HVNT9NOEVAK17$MI:);[!M6+ M(9UN*<\8J\?U G&YX2L2:<)%-*'LO6RE>6?[K"_0/,-"K0K3LN?1$RA7D" ) M@$Y]D<*TTF>ZY16L&UK"#B"SZ\ C#FN@9G!64PTVQ8.E F\X#;D$+DP9J,;V M5L!QR>^XU9[XRV)++8NUF,W*IS@NF=]22T4\+B:?+_$,>6>4KGC-[QH1Y3LA MPLYWLV!U1+^B:W_QAOUPR'XHZ#X/8N^'6N\]>N;R!::_E;)\,A)$G:N4A5," M9^6D6Z-T.>_+:ZYVD%#CX84?+4E(XMLX<4EP218DQJY"DZ&Z[^UH=@,#:Q=L MJ28MS=+2@&4]UI" \.,^JJ]XI3:JMU@GBV+;UY1FYGD ^P,)X=LX';6Q^O7, M N@=I+AI1/1(=S'4%E^Q2:&EQBQ-6ELG,)'C4&'^V?@..W,_\(+96L%6<3[K M.Q=Y*[7D)FZ3^XBX!(64S+3F58'SHF_[SG[AFL$?:@_$#.N=&?>!>^"L&G_T2WL%D] :'+ MEEF$4B,8X4#Y.:WR-L1ROK=QX'QA?H*XV]F.#F:%NI3.NQ#Y$7),O=Y7I&#( M5D>5V9:[I.AK]PU>8!0E83K3P]20*4CR^A^A&+)#'$G9'717GN?"J]3:CB3: M5 N57R%.E8K&S!)O3/$*5#-G"FA*=11[D=+16WN_"_8(RB^748K*BK=D_6 M'R+VW_."!^0[^#P( M3X/D/IXFWN8Z-LHB0&']%U I@!(! P^)%+D-5K"JI1JGF.)TB+$.:27XP[8" M95;I5[WN^8BV9A,F]CX(4K1\2@0P<-GF^TY(V5BM&+Q1*1,$TO3EG9 M8_K^>=/G/CC!V;152N_4R!E%&OF@CQWR+,YS;1#I7"5U&&?Q+:4L3?%X&7_= M/Y,L]4PU^6PZQ0Y=P=FC,V<#(6YH-#Q.?XHF/HM\I&Z@(/ ,TT. <#C7#Y@9 M)]W6KG*M7[%:5<_'<<%2;I;F1!NM854E03D.VV7CJ7*4,F52>Z[FBI$P##Y^NY: M %J%E%QX>PY!AZ@=$+LUVEI:E15=UDFK7**M]3XF]97L\B O(C^+8K*@7O1D M?4>_-S7K6 JO#4LKLSU*#V:D&&BAQKN90$:>N3>)&A;6H$ M=WRA.6MVPH7*A389\]KNA]W.L%S,#K]2PNM'QC_V\B)MK#T2N]KPV^]]EC\X4' MH^+"I_%(PFY!\VL<=O5YFH2L$#?-7Y@*:R4P#V,?JK(3[NV&BM!O\"KP5I2, MK'TV6XF4>>1]9Z<#I9)0N,N%>K^@F81-]6$SG\)0KK6$PM9X(JW=L\^DC%::/9B%.7P!*)X[*7_2+ MA:*S:665MKJ-;LE0R!A5O['D-+AZ4F(M1(HH?2!]G83.'$5X"SE2:<-2"\%* M8"MD7<-J;??$W7C\:Q3&Z\+C].AD7?P74Y4_"MCM)/_4+) .4R%:?K45O+G" M'PX66\Y$7^-%HN4;0[US)>M1$X0F2WA*&*Q>IK630)57MBUH:=")R3))/B(; M>5,]JRA@E'X^QVN3RMFCQIP1%*&R;0EK-;=6^66].:,(!^1S;I3 M:1$(>#38*T.S1QPZ),+7(7'P3ITQ-L7?Z7O0LJN)(2K!KLVK+] MLXAS2I[OL#OP(.KB440%W_ V73W[(&\M6\:6[U&NYI3R-(=DT^9&W%J/&FHY8U\L:H4(,6@O@'FGEZW(?"R M4K':N_(,7NFJG/3T6U.Q 6=W)&9S52Y\EZR(FR /IZMBRYB3Y5UP5CMK&$B*#6BM!$6-NBR4:!,3]0O0_HB^O'C] MX_-Q\)WZR%S1MS:'(3;R5[C@P592J-H,>9]6?LBMU'"5#7%@QW J@+SD^3P( MMV70OLMF90G/P*(^K,I0K>QSU: A;B@)>:+0V*D! MAJ(!%X-3._/(P+%\W)%3H.U3GCHYM7JDMZ.'&@!F_S-BQL%B&?CLR9"QNO): MA';:!,CMB%*-[P]MWN-5^]D:J)A!O6R1!6_326T6>_3U( M$.SI58GE%<77>M[,@+TG/EDD"U@6EH%:BIIJ>5A9-MPY19G_Z-$ _TM >\G_ M\K+M]*C:.J#D/L)_)C_&'T9*4!EK?681O@JXA; \TCMD\@^308?20J1 MV3X?UNMQ@Q"%+R4!!&(NF.4CLGJ:T):"*6_43WLBE;@I/Y/4SKIE19;%OHA9 M\67VXJS_S>6BE,DHU_A?VU&6(O+5N\%:BF^P@_I/QG*8DEA[E](H*\! M!7["G=1;)EBN43@)T]R#FY;Q47I38@VG7(1H;;5?U!.W%".APGH=25_G^%(: M,S4<)?$\",G7W5T0I) ;, Y+ODWLL]G;MJ![7>MYI_&,]$TF5Q_'5EO?LKF_>[.CMTO%]*>:JH3<]F7"W8I1=ET^1&* MI'JUKMEG:@>?465XK&T-.FL/;QMTOM)R2LRN[LN+A629S4O6H;-[PRNASK7B MA&_D=ILLEQ[!X1XJDYG*>I0V0YD M>\]2)6RCB!L M_2J0KE""SR9EHB!?50A1F#'[M5K8BZ=&K8 5!)M(%)E2:,7 M;M-R(+\C0&6S>**>^XU,&NP3"SG;T!3(%Y([VBF:BF>XQB'[!9J9Z1]1B\_B M2V.)\U)MY%-B&^"TO>Z/\XL%2=_((]\=IT-Z9MAWZ/&J.,U&-W.4068GMS+H M3F8FJQ&@,R%'#%_Q69(D*-O=GK5$FMDU.5;!;B2-3BM;6B;32QQ%&%]B%%%: M1ZQ[Q"R;NS%&2Q(CC_V+F7M('3+L'E(TU:(5WP?]A*E<7]+:UE;A&7V[),*E M>BP4,$'AP5(= (T6B*U$8CEFOX&34D+@&H%TVX*_;?23BF]5ZGK;)5 M_5;4^:VH\UM19_=/#(8Z3U'6>/$G*4+TK=?B\K=!BC6/M+\-4K3Z5C&M#3E[ MI$2Q-SDY52HBJ -@RU"(A5"[7'!#T4/;V'S.*.=Y5:W>=4CHX7N)O,FTTE,Q MVC15'/-ZJPA;YLA"LU(6+WEFRSKD2/,%*A'UK4&H)5FK,A/V8DGCQ0/K14PM MH3L)Q\CSRK7Z:?6VD7A>#O.0!"[+3)LE\+L>XY-IH3QTVXK>U$U< ](AB5F" MA38JX0L5OB?(0SX;SW3A$>0R+R/E;NLAV&FEHR"?!@; %;-K;;S+P)^Q@7?% MV6K9S87A9OIRB"T]6M#8?I*,!!N5I"CONQ Q#=P=E17O8^N^[[^0:EM:N'&C0$,%KD[S2I5L?H-C'2E>0DXW4?K ML,_.*2?4![BLGQ[VHPU#MW4N)^O=GURC=9I"?4"A.TF7$WVD.HS=D>^>/2ZQ M0W^\"]BO"G'W56+L^J\KV@>C==U)$W!L4=?53J>!DVY*MLQTZ,"%/PW"18I# MN>2I#AB_[$D44\H 4CS^NW@'MP".4]+$F!;E.S+"SG>S8'5$/Z=B>_&&_7#( M?BCLP5K0,&3N:3HLJ9>V7Y.JJ [;Y/72%'1J[G ],MI6LX[]^R;-FBX&/V/H M#9X1QD<_9F]H -2("];.B4]VT^0J)X M?(?7<#NI M?6M:;F!JIRQ=8=2H&DS#+?X&40LJ<]K*5< G%(J 4_D#U5SR(K MMRT[LLZ)A\,Q=:*S((3;8&6HP_%-%6Z W;QH1^)900I<_,>'.Q3[)^"*_MU* M>_N7D[0+2L_I;R#S(U7( [%Z0L98N4_9IRC3(3/"*L(>1BJBAC> MR&Z3NIV M@3SO)(DH]1%<5%&&.APG5>$&8-I?4SQG"QS.:$CS-@P>XCF[YD ^7"S!ASZ( M=%(M>W*YM4]::&ZJ.?8\:&&5@ [$4_'8D0O'0AYB%XF*KFE;!.6%V]/AB*;( MBUPPK5,2>F)A=2$A/<&E9*>-T\>LOB=87I:0)QWSVU$B47_*!,HXA%N?3:YR[$!0<_'S&"[E&$V7_]'U!+ 0(4 M Q0 ( '5;'U&PUX UFKH !/8!@ 1 " 0 !S96EI M+3(P,C P,S,Q+GAM;%!+ 0(4 Q0 ( '5;'U'MT%I?;!( %W! 1 M " &UL4$L! A0#% @ =5L? M4=,Y$'T4?P BU@& !4 ( !LP\! '-E:6DM,C R,# S,S%? M;&%B+GAM;%!+ 0(4 Q0 ( '5;'U%5?2!W^#4 '!@ P 5 M " ?J. 0!S96EI+3(P,C P,S,Q7W!R92YX;6Q02P4& 8 !@"* 0 &)<4! end