Condensed Parent Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2021

	December 31, 2021			December 31, 2020
ASSETS
Current assets:
Cash	$	-		$	-
Other receivable		-			-
Investments in subsidiaries at equity		98,636,238			89,333,519
Total current assets		98,636,238			89,333,519
Other assets:
Property, plant and equipment		1,540,520			1,540,520
Total assets	$	100,176,758		$	90,874,039
LIABILITIES AND EQUITY
Current liabilities:
Due to related parties	$	8,086,879		$	5,894,349
Total liabilities		8,086,879			5,894,349
Shareholders’ equity:
Equity attributable to owners of the company:
Ordinary shares ($0.001 par value; 125,000,000 shares authorized; 85,940,965 and 79,302,428 shares issued and outstanding at December 31, 2021 and 2020, respectively.)		85,941			79,302
Additional paid-in capital		88,938,870			82,045,993
Retained earnings		(5,623,762	)		(2,843,043	)
Accumulated other comprehensive loss		(6,919,882	)		(9,568,873	)
Total equity attributable to owners of the company		76,481,167			69,713,379
Non-controlling interest		15,608,712			15,266,311
Total shareholders’ equity		92,089,879			84,979,690
Total liabilities and equity	$	100,176,758		$	90,874,039

	For the Year Ended December 31,
	2021			2020			2019
Revenue	$	-		$	-		$	-
Cost of revenue		-			-			-
Operating expenses:
General and administrative		(3,989,031	)		(17,215,617	)		(2,198,906	)
Total operating expenses		(3,989,031	)		(17,215,617	)		(2,198,906	)
Loss from operations		(3,989,031	)		(17,215,617	)		(2,198,906	)
Other expense		-			(26	)		(8	)
Loss attributable to parent only		(3,989,031	)		(17,215,643	)		(2,198,914	)
Equity in income of subsidiaries		1,603,732			(60,402,937	)		8,578,979
Net (loss) income		(2,385,299	)		(77,618,580	)		6,380,065
Less: net income attributable to the non-controlling interest		95,420			(4,740,332	)		698,041
Net (loss) income attributable to owners of the company	$	(2,480,719	)	$	(72,878,248	)	$	5,682,024

	For the Year Ended December 31,
	2021			2020			2019
CASH FLOWS FROM OPERATING ACTIVITES
Net (loss) income	$	(2,385,299	)	$	(77,618,580	)	$	6,380,065
Adjustments to reconcile net income(loss) to net cash used in operating activities:
Equity in (income) loss of subsidiaries		(1,603,735	)		60,402,937			(8,578,979	)
Changes in assets and liabilities:
Prepaid expenses		-			-			-
Other receivable		-			-			-
Accrued liabilities and other payables		-			-			-
Due to related parties		(305,012	)		23,430,302			37,947
NET CASH USED IN OPERATING ACTIVITIES		(4,294,046	)		6,214,659			(2,160,967	)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment payments to subsidiaries		-			-			-
NET CASH USED IN INVESTING ACTIVITIES		-			-			-
CASH FLOWS FROM FINANCING ACTIVITIES
Loan from subsidiaries		2,401,516			4,935,792			2,165,959
Advances from related parties		-			-			-
Return to related parties		2,192,530			(11,150,452	)		(4,992	)
Payment of preferred dividends		(300,000	)		-			-
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES		4,294,046			(6,214,659	)		2,160,967
NET (DECREASE) INCREASE IN CASH		-			-			-
CASH - beginning of year		-			-			-
CASH - end of year	$	-		$	-		$	-