10-Q Filing

IT TECH PACKAGING, INC. CIK: 1358190 Q3 2020

Filing Information

Form Type	10-Q
Accession Number	`0001213900-20-036390`
Period End Date	20200930
Filing Date	20201112
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	itp-20200930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 87 Income Statement 68 Cash Flow Statement 84 Stockholders Equity 20

Balance Sheet 87 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$59.92K	USD	Point-in-time
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$64.44K	USD	Point-in-time
Consolidated VIE, liabilities (in Dollars)	`VariableInterestEntityConsolidatedCarryingAmountLiabilities1`	$17.64M	USD	Point-in-time
Cash and bank balances	`Cash`	$5.84M	USD	Point-in-time
Consolidated VIE, liabilities (in Dollars)	`VariableInterestEntityConsolidatedCarryingAmountLiabilities1`	$19.56M	USD	Point-in-time
Cash and bank balances	`Cash`	$8.21M	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Restricted cash	`RestrictedCashCurrent`	-	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $64,435 and $59,922 as of September 30, 2020 and December 2019, respectively)	`AccountsReceivableNet`	$3.12M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $64,435 and $59,922 as of September 30, 2020 and December 2019, respectively)	`AccountsReceivableNet`	$3.47M	USD	Point-in-time
Inventories	`InventoryNet`	$8.58M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	22.05M	shares	Point-in-time
Inventories	`InventoryNet`	$1.61M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	28.51M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	22.05M	shares	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.61M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	28.51M	shares	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$9.93M	USD	Point-in-time
Due from related parties	`DueFromRelatedPartiesCurrent`	$1.86M	USD	Point-in-time
Due from related parties	`DueFromRelatedPartiesCurrent`	$215.19K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$24.04M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$30.41M	USD	Point-in-time
Prepayment on property, plant and equipment	`PrepaidExpenseNoncurrent`	$2.94M	USD	Point-in-time
Prepayment on property, plant and equipment	`PrepaidExpenseNoncurrent`	$1.43M	USD	Point-in-time
Finance lease right-of-use assets, net	`FinanceLeaseRightOfUseAsset`	$2.34M	USD	Point-in-time
Finance lease right-of-use assets, net	`FinanceLeaseRightOfUseAsset`	$2.35M	USD	Point-in-time
Finance lease right-of-use assets, net	`FinanceLeaseRightOfUseAsset`	-	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$142.78M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$151.62M	USD	Point-in-time
Value-added tax recoverable	`ValueAddedTaxReceivableNoncurrent`	$2.62M	USD	Point-in-time
Value-added tax recoverable	`ValueAddedTaxReceivableNoncurrent`	$2.50M	USD	Point-in-time
Deferred tax asset non-current	`DeferredTaxAssetNoncurrent`	$10.49M	USD	Point-in-time
Deferred tax asset non-current	`DeferredTaxAssetNoncurrent`	$12.37M	USD	Point-in-time
Total Assets	`Assets`	$190.20M	USD	Point-in-time
Total Assets	`Assets`	$193.33M	USD	Point-in-time
Short-term bank loans	`ShortTermBankLoansAndNotesPayable`	$6.31M	USD	Point-in-time
Short-term bank loans	`ShortTermBankLoansAndNotesPayable`	$6.16M	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`	$3.80M	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityCurrent`	$168.55K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$250.49K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$308.61K	USD	Point-in-time
Advance from customers	`AdvanceFromCustomers1`	$98.31K	USD	Point-in-time
Advance from customers	`AdvanceFromCustomers1`	$179.49K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$657.43K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$539.99K	USD	Point-in-time
Accrued payroll and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$254.89K	USD	Point-in-time
Accrued payroll and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$291.92K	USD	Point-in-time
Other payables and accrued liabilities	`OtherAccountsPayableAndAccruedLiabilities`	$6.50M	USD	Point-in-time
Other payables and accrued liabilities	`OtherAccountsPayableAndAccruedLiabilities`	$4.57M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$599.78K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.38M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.84M	USD	Point-in-time
Loans from credit union	`DeferredRevenueAndCreditsCurrent`	$5.39M	USD	Point-in-time
Loans from credit union	`DeferredRevenueAndCreditsCurrent`	$7.37M	USD	Point-in-time
Deferred gain on sale-leaseback	`DeferredGainOnSaleleaseback`	-	USD	Point-in-time
Deferred gain on sale-leaseback	`DeferredGainOnSaleleaseback`	$406.77K	USD	Point-in-time
Lease liability - non-current	`OperatingLeaseLiabilityNoncurrent`	$385.65K	USD	Point-in-time
Lease liability - non-current	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	$1.20M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	-	USD	Point-in-time
Total liabilities (including amounts of the consolidated VIE without recourse to the Company of $17,636,464 and $19,558,568 as of September 30, 2020 and December 31, 2019, respectively)	`Liabilities`	$24.24M	USD	Point-in-time
Total liabilities (including amounts of the consolidated VIE without recourse to the Company of $17,636,464 and $19,558,568 as of September 30, 2020 and December 31, 2019, respectively)	`Liabilities`	$24.20M	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 and outstanding as of September 30, 2020 and December, 31,2019, respectively	`CommonStockValue`	$22.05K	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 and outstanding as of September 30, 2020 and December, 31,2019, respectively	`CommonStockValue`	$28.52K	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`	$-1.85M	USD	Point-in-time
Retained earnings	`RetainedEarningsUnappropriated`	$114.79M	USD	Point-in-time
Retained earnings	`RetainedEarningsUnappropriated`	$110.86M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$161.57M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$166.00M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$169.09M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$166.55M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$190.20M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$193.33M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$33.36M	USD	1 Quarter
Revenues	`Revenues`	$32.94M	USD	1 Quarter
Revenues	`Revenues`	$84.01M	USD	3 Qtrs
Revenues	`Revenues`	$68.46M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSoldOverhead`	$30.79M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSoldOverhead`	$63.51M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSoldOverhead`	$27.56M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSoldOverhead`	$75.92M	USD	3 Qtrs
Gross Profit	`GrossProfit`	$4.96M	USD	3 Qtrs
Gross Profit	`GrossProfit`	$2.57M	USD	1 Quarter
Gross Profit	`GrossProfit`	$8.09M	USD	3 Qtrs
Gross Profit	`GrossProfit`	$5.37M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.39M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$8.45M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.02M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.41M	USD	3 Qtrs
Gain on acquisition of a subsidiary	`GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee`	-	USD	3 Qtrs
Gain on acquisition of a subsidiary	`GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee`	$30.52K	USD	3 Qtrs
Gain on acquisition of a subsidiary	`GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee`	-	USD	1 Quarter
Gain on acquisition of a subsidiary	`GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee`	$-879.00	USD	1 Quarter
Income (Loss) from Operations	`OperatingIncomeLoss`	$176.63K	USD	1 Quarter
Income (Loss) from Operations	`OperatingIncomeLoss`	$3.35M	USD	1 Quarter
Income (Loss) from Operations	`OperatingIncomeLoss`	$-3.49M	USD	3 Qtrs
Income (Loss) from Operations	`OperatingIncomeLoss`	$707.03K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.41K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$23.79K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$61.79K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$8.54K	USD	1 Quarter
Subsidy income	`SubsidyIncome`	$203.17K	USD	3 Qtrs
Subsidy income	`SubsidyIncome`	$-2.80K	USD	1 Quarter
Subsidy income	`SubsidyIncome`	$61.15K	USD	1 Quarter
Subsidy income	`SubsidyIncome`	$233.49K	USD	3 Qtrs
Interest expense	`InterestExpense`	$744.59K	USD	3 Qtrs
Interest expense	`InterestExpense`	$731.03K	USD	3 Qtrs
Interest expense	`InterestExpense`	$236.99K	USD	1 Quarter
Interest expense	`InterestExpense`	$258.44K	USD	1 Quarter
Loss on derivative liability	`UnrealizedGainLossOnDerivatives`	$-510.38K	USD	3 Qtrs
Loss on derivative liability	`UnrealizedGainLossOnDerivatives`	$-482.51K	USD	1 Quarter
Loss on derivative liability	`UnrealizedGainLossOnDerivatives`	-	USD	3 Qtrs
Loss on derivative liability	`UnrealizedGainLossOnDerivatives`	-	USD	1 Quarter
(Loss) Income before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.52M	USD	3 Qtrs
(Loss) Income before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.11M	USD	1 Quarter
(Loss) Income before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$271.28K	USD	3 Qtrs
(Loss) Income before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-494.63K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$26.35K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$205.78K	USD	3 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$772.90K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$-579.42K	USD	3 Qtrs
Net (Loss) Income	`NetIncomeLoss`	$-520.97K	USD	1 Quarter
Net (Loss) Income	`NetIncomeLoss`	$65.50K	USD	3 Qtrs
Net (Loss) Income	`NetIncomeLoss`	$2.34M	USD	1 Quarter
Net (Loss) Income	`NetIncomeLoss`	$-3.94M	USD	3 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-4.81M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-5.07M	USD	3 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$4.20M	USD	3 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$6.67M	USD	1 Quarter
Total Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTax`	$6.15M	USD	1 Quarter
Total Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTax`	$267.64K	USD	3 Qtrs
Total Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTax`	$-5.00M	USD	3 Qtrs
Total Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTax`	$-2.47M	USD	1 Quarter
Basic and Diluted (Losses) Earnings per Share (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.11	USD	1 Quarter
Basic and Diluted (Losses) Earnings per Share (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.00	USD	3 Qtrs
Basic and Diluted (Losses) Earnings per Share (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.15	USD	3 Qtrs
Basic and Diluted (Losses) Earnings per Share (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.02	USD	1 Quarter
Outstanding Basic and Diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	22.03M	shares	3 Qtrs
Outstanding Basic and Diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	22.03M	shares	1 Quarter
Outstanding Basic and Diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.82M	shares	3 Qtrs
Outstanding Basic and Diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.82M	shares	1 Quarter

Cash Flow Statement 84 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$-520.97K	USD	1 Quarter
Net income	`NetIncomeLoss`	$65.50K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.34M	USD	1 Quarter
Net income	`NetIncomeLoss`	$-3.94M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$3.81M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.76M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$11.55M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$11.30M	USD	3 Qtrs
Loss on derivative liability	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	3 Qtrs
Loss on derivative liability	`GainLossOnDerivativeInstrumentsNetPretax`	$-510.38K	USD	3 Qtrs
Loss from disposal and impairment of property, plant and equipment	`GainLossOnDispositionOfAssets1`	-	USD	3 Qtrs
Loss from disposal and impairment of property, plant and equipment	`GainLossOnDispositionOfAssets1`	-	USD	3 Qtrs
(Recovery from) Allowance for bad debts	`ProvisionForDoubtfulAccounts`	$-339.00	USD	3 Qtrs
(Recovery from) Allowance for bad debts	`ProvisionForDoubtfulAccounts`	$2.97K	USD	3 Qtrs
Share-based compensation and expenses	`ShareBasedCompensation`	$1.24M	USD	3 Qtrs
Share-based compensation and expenses	`ShareBasedCompensation`	-	USD	3 Qtrs
Gain on acquisition of a subsidiary	`GainLossOnSaleOfPropertyPlantEquipment`	$30.52K	USD	3 Qtrs
Gain on acquisition of a subsidiary	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	3 Qtrs
Deferred tax	`DeferredIncomeTaxExpenseBenefit`	$-1.85M	USD	3 Qtrs
Deferred tax	`DeferredIncomeTaxExpenseBenefit`	$-594.59K	USD	1 Quarter
Deferred tax	`DeferredIncomeTaxExpenseBenefit`	$-561.05K	USD	1 Quarter
Deferred tax	`DeferredIncomeTaxExpenseBenefit`	$-1.58M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$272.86K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-16.89K	USD	3 Qtrs
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.10M	USD	3 Qtrs
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-185.78K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$4.31M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$6.76M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$50.68K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$254.75K	USD	3 Qtrs
Advance from customers	`IncreaseDecreaseInAdvanceFromCustomers`	$85.99K	USD	3 Qtrs
Advance from customers	`IncreaseDecreaseInAdvanceFromCustomers`	$76.76K	USD	3 Qtrs
Notes payable	`IncreaseDecreaseInNotePayableCurrent`	-	USD	3 Qtrs
Notes payable	`IncreaseDecreaseInNotePayableCurrent`	$-3.65M	USD	3 Qtrs
Related parties	`IncreaseDecreaseInDueToRelatedParties`	$1.77M	USD	3 Qtrs
Related parties	`IncreaseDecreaseInDueToRelatedParties`	$367.28K	USD	3 Qtrs
Accrued payroll and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-43.02K	USD	3 Qtrs
Accrued payroll and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$33.33K	USD	3 Qtrs
Other payables and accrued liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$726.56K	USD	3 Qtrs
Other payables and accrued liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-1.29M	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.16M	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-795.49K	USD	3 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$2.37M	USD	3 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$4.60M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.92M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.14M	USD	3 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$572.31K	USD	3 Qtrs
Acquisition of a subsidiary	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	-	USD	3 Qtrs
Acquisition of a subsidiary	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$1.53M	USD	3 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.57M	USD	3 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.45M	USD	3 Qtrs
Proceeds from issuance of shares and warrants, net	`ProceedsFromIssuanceOfWarrants`	-	USD	3 Qtrs
Proceeds from issuance of shares and warrants, net	`ProceedsFromIssuanceOfWarrants`	$2.27M	USD	3 Qtrs
Proceeds from short term bank loans	`ProceedsFromBankDebt`	$3.94M	USD	3 Qtrs
Proceeds from short term bank loans	`ProceedsFromBankDebt`	-	USD	3 Qtrs
Proceeds from credit union loans	`ProceedsFromRuralCreditUnionLoans`	-	USD	3 Qtrs
Proceeds from credit union loans	`ProceedsFromRuralCreditUnionLoans`	$2.33M	USD	3 Qtrs
Repayment of bank loans	`RepaymentsOfBankDebt`	$11.50M	USD	3 Qtrs
Repayment of bank loans	`RepaymentsOfBankDebt`	-	USD	3 Qtrs
Payment of capital lease obligation	`RepaymentsOfDebtAndCapitalLeaseObligations`	$32.32K	USD	3 Qtrs
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$2.24M	USD	3 Qtrs
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.22M	USD	3 Qtrs
Effect of Exchange Rate Changes on Cash and Cash Equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-237.12K	USD	3 Qtrs
Effect of Exchange Rate Changes on Cash and Cash Equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$333.58K	USD	3 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.37M	USD	3 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-7.31M	USD	3 Qtrs
Cash, Cash Equivalents and Restricted Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$4.81M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$8.21M	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 - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$12.12M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$4.81M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$8.21M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash - End 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 paid for interest, net of capitalized interest cost	`InterestPaidNet`	$509.78K	USD	3 Qtrs
Cash paid for interest, net of capitalized interest cost	`InterestPaidNet`	$659.61K	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	$888.88K	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	$1.78M	USD	3 Qtrs
Cash and bank balances	`CashBankBalances`	$4.81M	USD	3 Qtrs
Cash and bank balances	`CashBankBalances`	$8.21M	USD	3 Qtrs
Restricted cash	`NonCashRestrictedCash`	-	USD	3 Qtrs
Restricted cash	`NonCashRestrictedCash`	-	USD	3 Qtrs
Total cash, cash equivalents and restricted cash shown in the statement of cash flows	`TotalCashEquivalentsAndRestrictedCash`	$4.81M	USD	3 Qtrs
Total cash, cash equivalents and restricted cash shown in the statement of cash flows	`TotalCashEquivalentsAndRestrictedCash`	$8.21M	USD	3 Qtrs

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$161.57M	USD	Point-in-time
Balance	`StockholdersEquity`	$166.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$169.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$166.55M	USD	Point-in-time
Issuance of shares to officer and directors	`StockIssuedDuringPeriodValueOther`	$1.20M	USD	3 Qtrs
Issuance of shares	`StockIssuedDuringPeriodIssuanceOfSharesValueToWeitian`	$1.58M	USD	3 Qtrs
Issuance of shares to a consultant	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$42.00K	USD	3 Qtrs
Issuance of shares to Weitian	`IssuanceOfSharesToWeitian`	$17.55K	USD	3 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-4.81M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-5.07M	USD	3 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$4.20M	USD	3 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$6.67M	USD	1 Quarter
Net income	`NetIncomeLoss`	$-520.97K	USD	1 Quarter
Net income	`NetIncomeLoss`	$65.50K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.34M	USD	1 Quarter
Net income	`NetIncomeLoss`	$-3.94M	USD	3 Qtrs
Balance	`StockholdersEquity`	$161.57M	USD	Point-in-time
Balance	`StockholdersEquity`	$166.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$169.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$166.55M	USD	Point-in-time

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