Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Details)

v3.21.2
Summary of Significant Accounting Policies (Details)
12 Months Ended
Dec. 04, 2013
May 03, 2012
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Feb. 15, 2015
USD ($)
Feb. 15, 2015
CNY (¥)
Summary of Significant Accounting Policies (Details) [Line Items]              
Cash balances     $ 691,933 $ 10,092,205 $ 1,966,855    
Restricted cash     9,912,666      
Allowance for doubtful accounts     411,131 7,960      
Reserve for inventories     16,125,749 266,405      
Capitalized interest     1,476,240 334,851 589,147    
Net carrying value     556,000        
Impairment loss on vessels     $ 66,694,253 7,951,635 9,715,058    
Effective income tax rate on estimated profit   25.00% 25.00%        
Shipping and handling costs     $ 371,611 429,091 395,344    
Employee benefit costs     2,557,142 2,955,762 951,216    
Advertising expense     12,178 22 20,151    
Cumulative translation adjustment and effect of exchange rate     $ 830,704 (399,287) (899,256)    
Description of foreign currency translation     Asset and liability accounts at December 31, 2020 and 2019 were translated at 6.5249 RMB to $1.00 and at 6.9762 RMB to $1.00, respectively, which were the exchange rates on the balance sheet dates. Equity accounts were stated at their historical rate. The average translation rates applied to the statements of operations and comprehensive income (loss) for the years ended December 31, 2020, 2019 and 2018 were 6.8976RMB, 6.8985RMB and 6.6174RMB to $1.00, respectively. Cash flows from the Company’s operations are calculated based upon the local currencies using the average translation rate.         
Number of reportable segment     1        
Entitlement of net profit loss towards fishing vessels by entity, percentage 100.00%            
Right use of asset and liabilities         $ 770,000    
China Agriculture Industry Development Fund Co Ltd. [Member]              
Summary of Significant Accounting Policies (Details) [Line Items]              
Non-controlling interest, percentage     8.00%        
China Agriculture Industry Development Fund Co Ltd. [Member]              
Summary of Significant Accounting Policies (Details) [Line Items]              
Agriculture investment           $ 65,000,000 ¥ 400,000,000
Business Combination [Member] | Pingtan Fishing [Member]              
Summary of Significant Accounting Policies (Details) [Line Items]              
Acquisition, percentage           8.00% 8.00%
CHINA              
Summary of Significant Accounting Policies (Details) [Line Items]              
Cash balances     $ 468,273 9,971,626      
HONG KONG              
Summary of Significant Accounting Policies (Details) [Line Items]              
Cash balances     $ 223,660 $ 120,579