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11. Non-Controlling Interest
12 Months Ended
Dec. 31, 2018
Noncontrolling Interest [Abstract]  
Non-Controlling Interest

NOTE 11 - NON-CONTROLLING INTEREST

 

On July 1, 2016, the Company executed the Exchange Agreement with Yibaoccyb and the Yibaoccyb Shareholders. From and after the Closing Date, Yibaoccyb become a 51% owned subsidiary of the Company. Yibaoccyb owns 100% of YibaoHK, a Hong Kong company. YibaoHK will own 100% of Shenzhen Confucian Biologics Co. Ltd. (yet to be formed, “Yibao WFOE”), which will be wholly foreign-owned enterprise (“WFOE”) under the laws of the Peoples’ Republic of China (“PRC” or “China”). On August 31, 2016, YibaoHK entered into a series of contractual arrangements with Confucian and currently is 100% owner of Confucian.

 

Non-controlling interest consisted of the following:

 

   December 31,   December 31, 
   2018   2017 
Beginning balance  $292,072   $304,291 
Net income (loss) attributed to non-controlling interest   107,469    (31,538)
Foreign currency translation loss (gain) attributable to non-controlling interest   (19,938)   19,319 
Ending balance  $379,603   $292,072