10-Q Filing

IT TECH PACKAGING, INC. CIK: 1358190 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001213900-20-021402`
Period End Date	20200630
Filing Date	20200811
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	itp-20200630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 68 Cash Flow Statement 80 Stockholders Equity 15

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$59.92K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$57.53K	USD	Point-in-time
Cash and bank balances	`Cash`	$5.84M	USD	Point-in-time
Consolidated VIE, liabilities	`VariableInterestEntityConsolidatedCarryingAmountLiabilities1`	$16.75M	USD	Point-in-time
Cash and bank balances	`Cash`	$12.83M	USD	Point-in-time
Consolidated VIE, liabilities	`VariableInterestEntityConsolidatedCarryingAmountLiabilities1`	$19.46M	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	-	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $57,531 and $59,922 as of June 30, 2020 and December 31, 2019, respectively)	`AccountsReceivableNet`	$3.12M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $57,531 and $59,922 as of June 30, 2020 and December 31, 2019, respectively)	`AccountsReceivableNet`	$3.16M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Inventories	`InventoryNet`	$1.61M	USD	Point-in-time
Inventories	`InventoryNet`	$5.85M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	22.05M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	28.51M	shares	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.87M	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.61M	USD	Point-in-time
Due from related parties	`DueFromRelatedPartiesCurrent`	$1.86M	USD	Point-in-time
Due from related parties	`DueFromRelatedPartiesCurrent`	$85.53K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.80M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$24.04M	USD	Point-in-time
Prepayment on property, plant and equipment	`PrepaidExpenseNoncurrent`	$1.41M	USD	Point-in-time
Prepayment on property, plant and equipment	`PrepaidExpenseNoncurrent`	$1.43M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$151.62M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$142.42M	USD	Point-in-time
Value-added tax recoverable	`ValueAddedTaxReceivableNoncurrent`	$2.44M	USD	Point-in-time
Value-added tax recoverable	`ValueAddedTaxReceivableNoncurrent`	$2.62M	USD	Point-in-time
Deferred tax asset non-current	`DeferredTaxAssetNoncurrent`	$11.35M	USD	Point-in-time
Deferred tax asset non-current	`DeferredTaxAssetNoncurrent`	$10.49M	USD	Point-in-time
Total Assets	`Assets`	$190.20M	USD	Point-in-time
Total Assets	`Assets`	$185.43M	USD	Point-in-time
Short-term bank loans	`ShortTermBankLoansAndNotesPayable`	$6.16M	USD	Point-in-time
Short-term bank loans	`ShortTermBankLoansAndNotesPayable`	$6.07M	USD	Point-in-time
Current portion of long-term loans from credit union	`LoansPayableToBankCurrent`	$1.61M	USD	Point-in-time
Current portion of long-term loans from credit union	`LoansPayableToBankCurrent`	$3.66M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$250.49K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$848.39K	USD	Point-in-time
Advance from customers	`AdvanceFromCustomers1`	$98.31K	USD	Point-in-time
Advance from customers	`AdvanceFromCustomers1`	$184.13K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	-	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	-	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$539.99K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$657.43K	USD	Point-in-time
Accrued payroll and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$291.92K	USD	Point-in-time
Accrued payroll and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$251.87K	USD	Point-in-time
Other payables and accrued liabilities	`OtherAccountsPayableAndAccruedLiabilities`	$4.52M	USD	Point-in-time
Other payables and accrued liabilities	`OtherAccountsPayableAndAccruedLiabilities`	$6.50M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.38M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$399.05K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.59M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.84M	USD	Point-in-time
Loans from credit union	`DeferredRevenueAndCreditsCurrent`	$7.37M	USD	Point-in-time
Loans from credit union	`DeferredRevenueAndCreditsCurrent`	$5.18M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	$717.07K	USD	Point-in-time
Total liabilities (including amounts of the consolidated VIE without recourse to the Company of $16,746,095 and $19,460,257 as of June 30, 2020 and December 31, 2019, respectively)	`Liabilities`	$24.20M	USD	Point-in-time
Total liabilities (including amounts of the consolidated VIE without recourse to the Company of $16,746,095 and $19,460,257 as of June 30, 2020 and December 31, 2019, respectively)	`Liabilities`	$22.49M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, 500,000,000 shares authorized, $0.001 par value per share, 28,514,816 and 22,054,816 shares issued	`CommonStockValue`	$28.52K	USD	Point-in-time
Common stock, 500,000,000 shares authorized, $0.001 par value per share, 28,514,816 and 22,054,816 shares issued	`CommonStockValue`	$22.05K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$51.16M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$53.97M	USD	Point-in-time
Statutory earnings reserve	`RetainedEarningsAppropriated`	$6.08M	USD	Point-in-time
Statutory earnings reserve	`RetainedEarningsAppropriated`	$6.08M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.06M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.52M	USD	Point-in-time
Retained earnings	`RetainedEarningsUnappropriated`	$111.38M	USD	Point-in-time
Retained earnings	`RetainedEarningsUnappropriated`	$114.79M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$162.94M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$166.00M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$185.43M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$190.20M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$35.11M	USD	2 Qtrs
Revenues	`Revenues`	$33.62M	USD	1 Quarter
Revenues	`Revenues`	$51.07M	USD	2 Qtrs
Revenues	`Revenues`	$26.36M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSoldOverhead`	$48.35M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSoldOverhead`	$30.71M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSoldOverhead`	$23.80M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSoldOverhead`	$32.72M	USD	2 Qtrs
Gross Profit	`GrossProfit`	$2.56M	USD	1 Quarter
Gross Profit	`GrossProfit`	$2.91M	USD	1 Quarter
Gross Profit	`GrossProfit`	$2.39M	USD	2 Qtrs
Gross Profit	`GrossProfit`	$2.72M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.05M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.36M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.39M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.41M	USD	1 Quarter
Gain on acquisition of a subsidiary	`GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee`	-	USD	1 Quarter
Gain on acquisition of a subsidiary	`GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee`	$31.40K	USD	2 Qtrs
Gain on acquisition of a subsidiary	`GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee`	$31.40K	USD	1 Quarter
Gain on acquisition of a subsidiary	`GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee`	-	USD	2 Qtrs
(Loss) Income from Operations	`OperatingIncomeLoss`	$-3.67M	USD	2 Qtrs
(Loss) Income from Operations	`OperatingIncomeLoss`	$-2.64M	USD	2 Qtrs
(Loss) Income from Operations	`OperatingIncomeLoss`	$531.67K	USD	1 Quarter
(Loss) Income from Operations	`OperatingIncomeLoss`	$-798.64K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$15.24K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.56K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$60.37K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$9.45K	USD	1 Quarter
Subsidy income	`SubsidyIncome`	$142.02K	USD	2 Qtrs
Subsidy income	`SubsidyIncome`	$236.29K	USD	1 Quarter
Subsidy income	`SubsidyIncome`	$-979.00	USD	1 Quarter
Subsidy income	`SubsidyIncome`	$236.29K	USD	2 Qtrs
Interest expense	`InterestExpense`	$238.77K	USD	1 Quarter
Interest expense	`InterestExpense`	$241.44K	USD	1 Quarter
Interest expense	`InterestExpense`	$494.04K	USD	2 Qtrs
Interest expense	`InterestExpense`	$486.15K	USD	2 Qtrs
Loss on derivative liability	`UnrealizedGainLossOnDerivatives`	$-27.86K	USD	2 Qtrs
Loss on derivative liability	`UnrealizedGainLossOnDerivatives`	-	USD	2 Qtrs
Loss on derivative liability	`UnrealizedGainLossOnDerivatives`	$-27.86K	USD	1 Quarter
Loss on derivative liability	`UnrealizedGainLossOnDerivatives`	-	USD	1 Quarter
(Loss) Income before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.02M	USD	2 Qtrs
(Loss) Income before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.84M	USD	2 Qtrs
(Loss) Income before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$530.74K	USD	1 Quarter
(Loss) Income before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.06M	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$-605.77K	USD	2 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$-79.44K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$80.67K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$-567.12K	USD	2 Qtrs
Net (Loss) Income	`NetIncomeLoss`	$-980.03K	USD	1 Quarter
Net (Loss) Income	`NetIncomeLoss`	$450.07K	USD	1 Quarter
Net (Loss) Income	`NetIncomeLoss`	$-2.27M	USD	2 Qtrs
Net (Loss) Income	`NetIncomeLoss`	$-3.42M	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-2.47M	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-3.55M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$124.18K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-255.00K	USD	2 Qtrs
Total Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-5.88M	USD	2 Qtrs
Total Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-855.85K	USD	1 Quarter
Total Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-3.10M	USD	1 Quarter
Total Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-2.53M	USD	2 Qtrs
Basic and Diluted (Losses) Earnings per Share (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.04	USD	1 Quarter
Basic and Diluted (Losses) Earnings per Share (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.14	USD	2 Qtrs
Basic and Diluted (Losses) Earnings per Share (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.02	USD	1 Quarter
Basic and Diluted (Losses) Earnings per Share (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.10	USD	2 Qtrs
Outstanding Basic and Diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	22.02M	shares	1 Quarter
Outstanding Basic and Diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	24.44M	shares	2 Qtrs
Outstanding Basic and Diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	22.02M	shares	2 Qtrs
Outstanding Basic and Diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	24.44M	shares	1 Quarter

Cash Flow Statement 80 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$-980.03K	USD	1 Quarter
Net income	`NetIncomeLoss`	$450.07K	USD	1 Quarter
Net income	`NetIncomeLoss`	$-2.27M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$-3.42M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$3.86M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.72M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$7.79M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$7.50M	USD	2 Qtrs
Loss on derivative liability	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	2 Qtrs
Loss on derivative liability	`GainLossOnDerivativeInstrumentsNetPretax`	$-27.86K	USD	2 Qtrs
(Recovery from) Allowance for bad debts	`ProvisionForDoubtfulAccounts`	$-1.52K	USD	2 Qtrs
(Recovery from) Allowance for bad debts	`ProvisionForDoubtfulAccounts`	$6.22K	USD	2 Qtrs
Share-based compensation and expenses	`ShareBasedCompensation`	-	USD	2 Qtrs
Share-based compensation and expenses	`ShareBasedCompensation`	$1.24M	USD	2 Qtrs
Gain on acquisition of a subsidiary	`GainLossOnSaleOfPropertyPlantEquipment`	$31.40K	USD	2 Qtrs
Gain on acquisition of a subsidiary	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	2 Qtrs
Deferred tax	`DeferredIncomeTaxExpenseBenefit`	$-611.34K	USD	1 Quarter
Deferred tax	`DeferredIncomeTaxExpenseBenefit`	$-480.66K	USD	1 Quarter
Deferred tax	`DeferredIncomeTaxExpenseBenefit`	$-1.02M	USD	2 Qtrs
Deferred tax	`DeferredIncomeTaxExpenseBenefit`	$-1.26M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$89.31K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$311.26K	USD	2 Qtrs
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-5.74M	USD	2 Qtrs
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-60.69K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$2.92M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$4.29M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$502.31K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$604.82K	USD	2 Qtrs
Advance from customers	`IncreaseDecreaseInAdvanceFromCustomers`	$87.73K	USD	2 Qtrs
Advance from customers	`IncreaseDecreaseInAdvanceFromCustomers`	$102.17K	USD	2 Qtrs
Notes payable	`IncreaseDecreaseInNotePayableCurrent`	$-3.69M	USD	2 Qtrs
Notes payable	`IncreaseDecreaseInNotePayableCurrent`	-	USD	2 Qtrs
Related parties	`IncreaseDecreaseInDueToRelatedParties`	$161.86K	USD	2 Qtrs
Related parties	`IncreaseDecreaseInDueToRelatedParties`	$1.88M	USD	2 Qtrs
Accrued payroll and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-35.99K	USD	2 Qtrs
Accrued payroll and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$39.24K	USD	2 Qtrs
Other payables and accrued liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-1.39M	USD	2 Qtrs
Other payables and accrued liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$558.03K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-968.47K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$454.98K	USD	2 Qtrs
Net Cash Provided by (Used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$5.86M	USD	2 Qtrs
Net Cash Provided by (Used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-812.31K	USD	2 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.47M	USD	2 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$981.15K	USD	2 Qtrs
Acquisition of a subsidiary	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	-	USD	2 Qtrs
Acquisition of a subsidiary	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$1.55M	USD	2 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-981.15K	USD	2 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.02M	USD	2 Qtrs
Proceeds from issuance of shares and warrants, net	`ProceedsFromIssuanceOfWarrants`	-	USD	2 Qtrs
Proceeds from issuance of shares and warrants, net	`ProceedsFromIssuanceOfWarrants`	$2.27M	USD	2 Qtrs
Proceeds from short term bank loans	`ProceedsFromBankDebt`	$3.99M	USD	2 Qtrs
Proceeds from short term bank loans	`ProceedsFromBankDebt`	-	USD	2 Qtrs
Proceeds from credit union loans	`ProceedsFromRuralCreditUnionLoans`	-	USD	2 Qtrs
Proceeds from credit union loans	`ProceedsFromRuralCreditUnionLoans`	$2.36M	USD	2 Qtrs
Repayment of bank loans	`RepaymentsOfBankDebt`	$11.64M	USD	2 Qtrs
Repayment of bank loans	`RepaymentsOfBankDebt`	-	USD	2 Qtrs
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.29M	USD	2 Qtrs
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$2.27M	USD	2 Qtrs
Effect of Exchange Rate Changes on Cash and Cash Equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$137.94K	USD	2 Qtrs
Effect of Exchange Rate Changes on Cash and Cash Equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-158.55K	USD	2 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-10.98M	USD	2 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$6.99M	USD	2 Qtrs
Cash, Cash Equivalents and Restricted Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$12.12M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$12.83M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.84M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$12.12M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$12.83M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.84M	USD	Point-in-time
Cash paid for interest, net of capitalized interest cost	`InterestPaidNet`	$288.46K	USD	2 Qtrs
Cash paid for interest, net of capitalized interest cost	`InterestPaidNet`	$445.86K	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	$1.37M	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	$222.28K	USD	2 Qtrs
Cash and bank balances	`CashBankBalances`	$1.13M	USD	2 Qtrs
Cash and bank balances	`CashBankBalances`	$12.83M	USD	2 Qtrs
Restricted cash	`NonCashRestrictedCash`	-	USD	2 Qtrs
Restricted cash	`NonCashRestrictedCash`	-	USD	2 Qtrs
Total cash, cash equivalents and restricted cash shown in the statement of cash flows	`TotalCashEquivalentsAndRestrictedCash`	$12.83M	USD	2 Qtrs
Total cash, cash equivalents and restricted cash shown in the statement of cash flows	`TotalCashEquivalentsAndRestrictedCash`	$1.13M	USD	2 Qtrs

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$162.94M	USD	Point-in-time
Balance	`StockholdersEquity`	$166.00M	USD	Point-in-time
Issuance of shares to officer and directors	`StockIssuedDuringPeriodValueOther`	$1.20M	USD	2 Qtrs
Issuance of shares	`StockIssuedDuringPeriodIssuanceOfSharesValueToWeitian`	$1.58M	USD	2 Qtrs
Issuance of shares to a consultant	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$42.00K	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-2.47M	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-3.55M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$124.18K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-255.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$-980.03K	USD	1 Quarter
Net income	`NetIncomeLoss`	$450.07K	USD	1 Quarter
Net income	`NetIncomeLoss`	$-2.27M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$-3.42M	USD	2 Qtrs
Balance	`StockholdersEquity`	$162.94M	USD	Point-in-time
Balance	`StockholdersEquity`	$166.00M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.