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Short-Term Bank Loans (Tables)
 9 Months Ended
Sep. 30, 2018
Short-Term Bank Loans / Convertible Note Payable [Abstract]  
Schedule of short-term bank loans
  September 30,
2018		  December 31,
2017		 
Loan from Bank of China, due on December 4, 2018 with annual interest rate of 6.09%, secured by certain assets of the Company $363,282  $384,172 
Loan from Bank of China, due on December 6, 2018 with annual interest rate of 6.09%, secured by certain assets of the Company  363,282   384,172 
Loan from Bank of Wuxi Nongshuang, due on April 25, 2018 with annual interest rate of 5.87%, secured by certain assets of the Company  -   691,510 
Loan from Bank of Wuxi Nongshuang, due on February 22, 2019 with annual interest rate of 5.87%, secured by certain assets of the Company  653,909   - 
Loan from Bank of Communication, due on September 20, 2019 with annual interest rate of 5.85%, secured by certain assets of the Company  -   614,675 
Loan from Bank of Communication, due on September 25, 2018 with annual interest rate of 5.85%, secured by certain assets of the Company  581,252     
Loan from Zhongli International Finance Corporation, credit line of RMB4,500,000 (approximately $653,908), with a security deposit of RMB900,000 (approximately $130,782) which will be returned in 36 months, monthly installment of RMB210,000 (approximately $30,516) in the 1st – 12th month; RMB138,000 (approximately $20,053) in the 13th - 24th month; RMB98,000 (approximately $14,241) in the 25st – 36th month; secured by certain assets of the Company *  240,521   - 
Total short-term bank loans $2,202,246  $2,074,529 

 

* Long-term bank loans represent amounts due to various banks that are due more than one year. Long-term portion of loan from Zhongli International Finance Corporation is $282,605 as of September 30, 2018.
Schedule of minimum installments under loan agreement
12-month periods ending September 30, Amount 
2019 $366,189 
2020  240,638 
2021  170,888 
Total minimum loan payments  777,715 
Less: amount representing interest  (123,807)
Less: security deposit due  (130,782)
Present value of net minimum loan payment  523,127 
Less: current portion  240,521 
Long-term portion $282,605