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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 226,517 $ 270,317
Restricted cash 975
Accounts receivable, net 3,665,990 3,114,893
Inventories 1,487,626 1,953,063
Advances to suppliers 3,138,362 5,316,195
Other receivables 473,131 349,984
Other receivables-related parties 3,107,205 315,724
Prepaid expenses 1,018,950 978,803
Assets classified as held for sale 211,498
Total current assets 13,118,756 12,510,477
Non-current assets    
Plant and equipment, net 19,034,324 20,271,844
Intangible assets, net 2,722,667 2,834,102
Construction in progress, net 31,235 30,948
Long-term investments 2,278,872 2,257,926
Goodwill 4,724,699 4,724,699
Total non-current assets 28,791,797 30,119,519
Total assets 41,910,553 42,629,996
Current liabilities    
Loans-current 1,751,038
Accounts payable 3,826,357 3,328,344
Advance from customers 2,615,320 2,464,319
Taxes payable 1,294,926 1,243,060
Other payables and accrued liabilities 4,867,213 4,484,453
Deferred income 9,619 36,334
Liabilities directly associated with assets classified as held for sale 517,930
Total current liabilities 22,056,871 19,185,697
Non-current liabilities    
Other long-term liabilities 114,712 191,981
Loans-noncurrent 4,232,216 3,812,106
Total non-current liabilities 4,346,928 4,004,087
Total liabilities 26,403,799 23,189,784
Commitments and contingencies
Stockholders’ equity    
Preferred stock: $0.001 par value, 10,000,000 shares authorized; none issued and outstanding as of September 30, 2024 and December 31, 2023
Common stock: $0.001 par value, 100,000,000 shares authorized; 7,282,714 shares issued and outstanding as of September 30, 2024 and December 31, 2023 * [1] 7,283 7,283
Additional paid-in capital 155,767,774 155,767,774
Accumulated deficit (144,711,504) (140,724,597)
Accumulated other comprehensive income 4,443,201 4,389,752
Total stockholders’ equity 15,506,754 19,440,212
Total liabilities and stockholders’ equity 41,910,553 42,629,996
Related Parties    
Current liabilities    
Other payables-related parties $ 7,692,398 $ 7,111,257
[1] Prior period results have been adjusted to reflect the reverse stock split effected on May 31, 2024