XML 70 R2.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current Assets    
Cash $ 6,878,362 $ 38,695
Short-term investment 2,009,238 994,549
Account receivable – related party 136,800
Inventories, net 1,366,282 1,366,282
Prepaid expenses 8,026,453 4,055,087
Other receivable – related parties 308,544 4,590
Other receivable – others 119,683 1,426
Other current assets 32,666 10,128
Total Current Assets 18,741,228 6,607,557
Long-term investment 4,572,243 4,740,784
Property and Equipment, net    
Cost 4,011,883 2,968,265
Accumulated depreciation (2,486,836) (1,923,438)
Depreciation, net 1,525,047 1,044,827
Prepayment for land 35,748,435 35,861,589
Prepayment for equipment 458,998 17,889
Net Property and Equipment 37,732,480 36,924,305
Other Assets    
Restricted cash 3,223,558 3,250,118
Intangible asset, net 1,402,500 1,897,500
Goodwill 4,561,037 1,475,334
Right-of-use assets, net 92,451 177,994
Deposits 315,015 117,146
Total Other Assets 9,594,561 6,918,092
Total Assets 70,640,512 55,190,738
Current Liabilities    
Short-term loan – related party 337,357 550,459
Short-term loan – others 978,896 1,083,273
Accounts payable 1,950,939 1,564,627
Accrued expenses 2,433,400 2,884,846
Other payable – related parties 340,467 694,400
Other payable – others 5,017,040 4,344,798
Prepayment from customer – related party 1,258,786
Long-term loan – current 11,271 11,334
Lease liability – current – related party 55,025
Lease liability – current – others 131,181 332,483
Total Current Liabilities 12,459,337 11,521,245
Long-term Liabilities    
Convertible long-term bonds payable 9,137,006 8,653,511
Convertible long-term note payable 23,173,200  
Long-term loan – non-current 5,027 18,054
Prepayments from customer – non-current 762,000 762,000
Lease liability – non-current – related party
Lease liability – non-current – others 35,172 62,652
Restricted stock deposit liability 1,000 1,000
Total Long-term Liabilities 33,113,405 9,497,217
Total Liabilities 45,572,742 21,018,462
Commitments and Contingencies
Stockholders’ Equity    
Preferred stock, $0.001 par value, 50,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2022 and 2021
Common stock, $0.001 par value, 90,000,000 shares authorized, 9,720,003 shares (excluding 149,162 unvested restricted shares) issued and outstanding as of December 31, 2022 and 9,715,889 shares (excluding 149,162 unvested restricted shares) issued and outstanding as of December 31, 2021 9,720 9,716
Additional paid in capital 79,078,005 77,825,976
Accumulated deficits (53,645,981) (41,767,258)
Accumulated other comprehensive loss (373,974) (1,896,158)
Total Stockholders’ Equity 25,067,770 34,172,276
Total Liabilities and Stockholders’ Equity $ 70,640,512 $ 55,190,738