|
Document - Document and Entity Information |
Document - Document and Entity Information (USD $) |
6 Months Ended |
|
( custom:DocumentAndEntityInformationAbstract [Extension] ) |
|
|
|
Jun. 30, 2019 |
Aug. 14, 2019 |
|
|
|
|
|
|
|
|
|
Entity Registrant Name |
Victory Commercial Management Inc. | |
| |
( dei:EntityRegistrantName ) |
| |
| |
Entity Central Index Key |
0001723083 | |
| |
( dei:EntityCentralIndexKey ) |
| |
| |
Document Type |
10-Q | |
| |
( dei:DocumentType ) |
| |
| |
Document Period End Date |
2019-06-30 | |
| |
( dei:DocumentPeriodEndDate ) |
| |
| |
Amendment Flag |
false | |
| |
( dei:AmendmentFlag ) |
| |
| |
Current Fiscal Year End Date |
--12-31 | |
| |
( dei:CurrentFiscalYearEndDate ) |
| |
| |
Entity Current Reporting Status |
Yes | |
| |
( dei:EntityCurrentReportingStatus ) |
| |
| |
Entity Interactive Data Current |
Yes | |
| |
( dei:EntityInteractiveDataCurrent ) |
| |
| |
Entity Filer Category |
Non-accelerated Filer | |
| |
( dei:EntityFilerCategory ) |
| |
| |
Entity Small Business Flag |
true | |
| |
( dei:EntitySmallBusiness ) |
| |
| |
Entity Emerging Growth Company |
true | |
| |
( dei:EntityEmergingGrowthCompany ) |
| |
| |
Entity Ex Transition Period |
false | |
| |
( dei:EntityExTransitionPeriod ) |
| |
| |
Entity Shell Company |
false | |
| |
( dei:EntityShellCompany ) |
| |
| |
Entity Common Stock, Shares Outstanding |
| |
21,711,000 | |
( dei:EntityCommonStockSharesOutstanding ) |
| |
| |
Document Fiscal Period Focus |
Q2 | |
| |
( dei:DocumentFiscalPeriodFocus ) |
| |
| |
Document Fiscal Year Focus |
2019 | |
| |
( dei:DocumentFiscalYearFocus ) |
| |
| |
|
(End Document - Document and Entity Information) |
|
Statement - Condensed Consolidated Balance Sheets |
Statement - Condensed Consolidated Balance Sheets (USD $) |
|
|
( us-gaap:StatementOfFinancialPositionAbstract ) |
|
|
|
Jun. 30, 2019 |
Dec. 31, 2018 |
|
|
|
|
|
|
|
|
|
ASSETS |
| |
| |
( us-gaap:AssetsAbstract ) |
| |
| |
Rental properties, net |
22,080,118 | |
22,519,082 | |
( us-gaap:RentalProperties ) |
| |
| |
Cash and cash equivalents |
177,975 | |
188,921 | |
( us-gaap:CashAndCashEquivalentsAtCarryingValue ) |
| |
| |
Restricted cash |
120,375 | |
130,199 | |
( us-gaap:RestrictedCashAndCashEquivalents ) |
| |
| |
Tenant and sundry receivables, net of allowance for doubtful accounts |
614,916 | |
1,132,691 | |
( us-gaap:OtherReceivables ) |
| |
| |
Prepaid expenses and other assets |
626,592 | |
697,756 | |
( us-gaap:PrepaidExpenseAndOtherAssets ) |
| |
| |
Property and equipment, net |
540,063 | |
634,589 | |
( us-gaap:PropertyPlantAndEquipmentNet ) |
| |
| |
Intangible assets, net |
20,491 | |
23,083 | |
( us-gaap:IntangibleAssetsNetExcludingGoodwill ) |
| |
| |
ROU assets, net |
232,631 | |
422,905 | |
( us-gaap:OperatingLeaseRightOfUseAsset ) |
| |
| |
Short-term loan and interest receivable |
7,922,727 | |
7,616,300 | |
( custom:ShorttermLoanAndInterestReceivable [Extension] ) |
| |
| |
TOTAL ASSETS |
32,335,888 | |
33,365,526 | |
( us-gaap:Assets ) |
| |
| |
|
| |
| |
|
| |
| |
LIABILITIES AND DEFICIT |
| |
| |
( us-gaap:LiabilitiesAndStockholdersEquityAbstract ) |
| |
| |
Liabilities: |
| |
| |
( us-gaap:LiabilitiesAbstract ) |
| |
| |
Bank loans payable, net |
67,780,788 | |
66,458,934 | |
( us-gaap:LoansPayableToBank ) |
| |
| |
Property financing agreements payable |
81,307,579 | |
79,904,620 | |
( us-gaap:FinancialServicesLiabilities ) |
| |
| |
Accounts payable and accrued liabilities |
6,642,086 | |
4,747,604 | |
( us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent ) |
| |
| |
Deferred rental income |
5,033,811 | |
4,610,478 | |
( us-gaap:DeferredRentCredit ) |
| |
| |
Lease liabilities payable |
396,681 | |
612,125 | |
( us-gaap:CapitalLeaseObligations ) |
| |
| |
Other payables |
19,076,497 | |
19,594,875 | |
( us-gaap:OtherLiabilities ) |
| |
| |
Loans payable to related parties |
11,567,695 | |
11,516,280 | |
( us-gaap:DueToRelatedPartiesCurrentAndNoncurrent ) |
| |
| |
Due to shareholder |
65,292,851 | |
64,151,148 | |
( us-gaap:DueToOfficersOrStockholdersCurrentAndNoncurrent ) |
| |
| |
Interest payable to related parties |
11,398,826 | |
11,121,817 | |
( us-gaap:InterestPayableCurrentAndNoncurrent ) |
| |
| |
Total Liabilities |
268,496,814 | |
262,717,881 | |
( us-gaap:Liabilities ) |
| |
| |
Commitments and Contingencies |
— | |
— | |
( us-gaap:CommitmentsAndContingencies ) |
| |
| |
Deficit |
| |
| |
( us-gaap:StockholdersEquityAbstract ) |
| |
| |
Common stock, $0.0001 par value, 600,000,000 shares authorized; 21,711,000 and 20,700,000 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively * |
2,171 | |
2,070 | |
( us-gaap:CommonStockValue ) |
| |
| |
Paid-in capital |
11,827,188 | |
10,816,289 | |
( us-gaap:AdditionalPaidInCapitalCommonStock ) |
| |
| |
Accumulated deficit |
(200,681,750 | ) |
(194,188,636 | ) |
( us-gaap:RetainedEarningsAccumulatedDeficit ) |
| |
| |
Accumulated other comprehensive loss |
(4,014,401 | ) |
(3,739,981 | ) |
( us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax ) |
| |
| |
Total stockholder's deficit attributable to the Company's common shareholders |
(192,866,792 | ) |
(187,110,258 | ) |
( us-gaap:StockholdersEquity ) |
| |
| |
Noncontrolling interest |
(43,294,134 | ) |
(42,242,097 | ) |
( us-gaap:MinorityInterest ) |
| |
| |
Total Deficit |
(236,160,926 | ) |
(229,352,355 | ) |
( us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest ) |
| |
| |
TOTAL LIABILITIES AND DEFICIT |
32,335,888 | |
33,365,526 | |
( us-gaap:LiabilitiesAndStockholdersEquity ) |
| |
| |
|
(End Statement - Condensed Consolidated Balance Sheets) |
|
Statement - Condensed Consolidated Balance Sheets (Parenthetical) |
Statement - Condensed Consolidated Balance Sheets (Parenthetical) (USD $) |
|
|
( us-gaap:StatementOfFinancialPositionAbstract ) |
|
|
|
Jun. 30, 2019 |
Dec. 31, 2018 |
|
|
|
|
|
|
|
|
|
Common stock, par value |
0.0001 | |
0.0001 | |
( us-gaap:CommonStockParOrStatedValuePerShare ) |
| |
| |
Common stock, shares authorized |
600,000,000 | |
600,000,000 | |
( us-gaap:CommonStockSharesAuthorized ) |
| |
| |
Common stock, shares issued |
21,711,000 | |
20,700,000 | |
( us-gaap:CommonStockSharesIssued ) |
| |
| |
Common stock, shares outstanding |
21,711,000 | |
20,700,000 | |
( us-gaap:CommonStockSharesOutstanding ) |
| |
| |
|
(End Statement - Condensed Consolidated Balance Sheets (Parenthetical)) |
|
Statement - Condensed Consolidated Statements of Operations and Other Comprehensive (Loss) (Unaudited) |
Statement - Condensed Consolidated Statements of Operations and Other Comprehensive (Loss) (Unaudited) (USD $) |
3 Months Ended |
( us-gaap:IncomeStatementAbstract ) |
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2018 |
( srt:ProductOrServiceAxis ) |
|
|
|
|
|
|
|
Rental Income [Member] |
Management Fee Income [Member] |
Other Income [Member] |
|
Rental Income [Member] |
Management Fee Income [Member] |
( srt:ProductsAndServicesDomain ) |
|
|
|
|
|
|
Revenues |
| |
| |
| |
| |
| |
| |
( us-gaap:RevenuesAbstract ) |
| |
| |
| |
| |
| |
| |
Total revenues |
782,784 | |
1,216,510 | |
198,846 | |
2,198,140 | |
912,864 | |
1,618,303 | |
( us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax ) |
| |
| |
| |
| |
| |
| |
Operating expenses |
| |
| |
| |
| |
| |
| |
( us-gaap:OperatingExpensesAbstract ) |
| |
| |
| |
| |
| |
| |
Selling expenses |
| |
| |
| |
1,105,399 | |
| |
| |
( us-gaap:SellingExpense ) |
| |
| |
| |
| |
| |
| |
Depreciation and amortization |
| |
| |
| |
326,355 | |
| |
| |
( us-gaap:DepreciationAndAmortization ) |
| |
| |
| |
| |
| |
| |
Lease expenses |
| |
| |
| |
17,225 | |
| |
| |
( us-gaap:LeaseCost ) |
| |
| |
| |
| |
| |
| |
Payroll and payroll related expenses |
| |
| |
| |
519,648 | |
| |
| |
( us-gaap:LaborAndRelatedExpense ) |
| |
| |
| |
| |
| |
| |
Business taxes |
| |
| |
| |
135,379 | |
| |
| |
( us-gaap:TaxesExcludingIncomeAndExciseTaxes ) |
| |
| |
| |
| |
| |
| |
Operating lease expenses |
| |
| |
| |
122,731 | |
| |
| |
( us-gaap:OperatingLeaseExpense ) |
| |
| |
| |
| |
| |
| |
Other general and administrative expenses |
| |
| |
| |
3,674,625 | |
| |
| |
( us-gaap:OtherGeneralAndAdministrativeExpense ) |
| |
| |
| |
| |
| |
| |
Total operating expenses |
| |
| |
| |
5,901,362 | |
| |
| |
( us-gaap:OperatingExpenses ) |
| |
| |
| |
| |
| |
| |
(Loss) from operations |
| |
| |
| |
(3,703,222 | ) |
| |
| |
( us-gaap:OperatingIncomeLoss ) |
| |
| |
| |
| |
| |
| |
Other income (expenses) |
| |
| |
| |
| |
| |
| |
( us-gaap:NonoperatingIncomeExpenseAbstract ) |
| |
| |
| |
| |
| |
| |
Interest income |
| |
| |
| |
207,878 | |
| |
| |
( us-gaap:InterestIncomeOther ) |
| |
| |
| |
| |
| |
| |
Interest - loans |
| |
| |
| |
(1,055,274 | ) |
| |
| |
( us-gaap:InterestExpenseDebt ) |
| |
| |
| |
| |
| |
| |
Interest - ROU and other capitalized liabilities |
| |
| |
| |
(649,039 | ) |
| |
| |
( us-gaap:InterestExpenseOther ) |
| |
| |
| |
| |
| |
| |
Interest - related parties |
| |
| |
| |
(134,180 | ) |
| |
| |
( us-gaap:InterestExpenseRelatedParty ) |
| |
| |
| |
| |
| |
| |
Gain (loss) from foreign currency transactions |
| |
| |
| |
(524,372 | ) |
| |
| |
( us-gaap:ForeignCurrencyTransactionGainLossRealized ) |
| |
| |
| |
| |
| |
| |
Other income |
| |
| |
| |
7,399 | |
| |
| |
( us-gaap:OtherNonoperatingIncome ) |
| |
| |
| |
| |
| |
| |
Total other (expenses) income, net |
| |
| |
| |
(2,147,588 | ) |
| |
| |
( us-gaap:NonoperatingIncomeExpense ) |
| |
| |
| |
| |
| |
| |
(Loss) from operations before provision for income tax |
| |
| |
| |
(5,850,810 | ) |
| |
| |
( us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest ) |
| |
| |
| |
| |
| |
| |
Provision for income tax |
| |
| |
| |
— | |
| |
| |
( us-gaap:IncomeTaxExpenseBenefit ) |
| |
| |
| |
| |
| |
| |
Net (Loss) |
| |
| |
| |
(5,850,810 | ) |
| |
| |
( us-gaap:ProfitLoss ) |
| |
| |
| |
| |
| |
| |
Net (loss) attributable to noncontrolling interest |
| |
| |
| |
(778,625 | ) |
| |
| |
( us-gaap:NetIncomeLossAttributableToNoncontrollingInterest ) |
| |
| |
| |
| |
| |
| |
Net (loss) attributable to the Company's common shareholders |
| |
| |
| |
(5,072,185 | ) |
| |
| |
( us-gaap:NetIncomeLoss ) |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Per Common Share - basic and diluted: |
| |
| |
| |
| |
| |
| |
( us-gaap:EarningsPerShareAbstract ) |
| |
| |
| |
| |
| |
| |
Net (loss) per Company's common share |
| |
| |
| |
(0.23 | ) |
| |
| |
( us-gaap:EarningsPerShareBasicAndDiluted ) |
| |
| |
| |
| |
| |
| |
Weighted-average shares outstanding, basic and diluted * |
| |
| |
| |
21,711,000 | [1] |
| |
| |
( us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted ) |
| |
| |
| |
| |
| |
| |
Comprehensive (loss) |
| |
| |
| |
| |
| |
| |
( us-gaap:ComprehensiveIncomeNetOfTaxAbstract ) |
| |
| |
| |
| |
| |
| |
Net (loss) |
| |
| |
| |
(5,850,810 | ) |
| |
| |
( us-gaap:ProfitLoss ) |
| |
| |
| |
| |
| |
| |
Other comprehensive loss, net of tax |
| |
| |
| |
| |
| |
| |
( us-gaap:OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract ) |
| |
| |
| |
| |
| |
| |
Change in foreign currency translation adjustments |
| |
| |
| |
4,188,504 | |
| |
| |
( us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax ) |
| |
| |
| |
| |
| |
| |
Total other comprehensive (loss) income |
| |
| |
| |
(1,662,306 | ) |
| |
| |
( us-gaap:OtherComprehensiveIncomeLossNetOfTax ) |
| |
| |
| |
| |
| |
| |
Comprehensive loss (income) attributable to non-controlling interest |
| |
| |
| |
853,304 | |
| |
| |
( us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest ) |
| |
| |
| |
| |
| |
| |
Comprehensive (loss) income attributable to the Company's common shareholders |
| |
| |
| |
(2,515,610 | ) |
| |
| |
( us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Statement - Condensed Consolidated Statements of Operations and Other Comprehensive (Loss) (Unaudited) (USD $) |
6 Months Ended |
( us-gaap:IncomeStatementAbstract ) |
|
|
Jun. 30, 2018 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
( srt:ProductOrServiceAxis ) |
|
|
|
|
|
|
|
Other Income [Member] |
|
Rental Income [Member] |
Management Fee Income [Member] |
Other Income [Member] |
|
( srt:ProductsAndServicesDomain ) |
|
|
|
|
|
|
Revenues |
| |
| |
| |
| |
| |
| |
( us-gaap:RevenuesAbstract ) |
| |
| |
| |
| |
| |
| |
Total revenues |
266,392 | |
2,797,559 | |
1,567,497 | |
2,480,448 | |
336,700 | |
4,384,645 | |
( us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax ) |
| |
| |
| |
| |
| |
| |
Operating expenses |
| |
| |
| |
| |
| |
| |
( us-gaap:OperatingExpensesAbstract ) |
| |
| |
| |
| |
| |
| |
Selling expenses |
| |
1,152,273 | |
| |
| |
| |
2,348,808 | |
( us-gaap:SellingExpense ) |
| |
| |
| |
| |
| |
| |
Depreciation and amortization |
| |
353,208 | |
| |
| |
| |
646,330 | |
( us-gaap:DepreciationAndAmortization ) |
| |
| |
| |
| |
| |
| |
Lease expenses |
| |
1,240,400 | |
| |
| |
| |
24,334 | |
( us-gaap:LeaseCost ) |
| |
| |
| |
| |
| |
| |
Payroll and payroll related expenses |
| |
416,478 | |
| |
| |
| |
1,027,325 | |
( us-gaap:LaborAndRelatedExpense ) |
| |
| |
| |
| |
| |
| |
Business taxes |
| |
140,948 | |
| |
| |
| |
264,843 | |
( us-gaap:TaxesExcludingIncomeAndExciseTaxes ) |
| |
| |
| |
| |
| |
| |
Operating lease expenses |
| |
147,787 | |
| |
| |
| |
298,141 | |
( us-gaap:OperatingLeaseExpense ) |
| |
| |
| |
| |
| |
| |
Other general and administrative expenses |
| |
224,879 | |
| |
| |
| |
4,014,901 | |
( us-gaap:OtherGeneralAndAdministrativeExpense ) |
| |
| |
| |
| |
| |
| |
Total operating expenses |
| |
3,675,973 | |
| |
| |
| |
8,624,682 | |
( us-gaap:OperatingExpenses ) |
| |
| |
| |
| |
| |
| |
(Loss) from operations |
| |
(878,414 | ) |
| |
| |
| |
(4,240,037 | ) |
( us-gaap:OperatingIncomeLoss ) |
| |
| |
| |
| |
| |
| |
Other income (expenses) |
| |
| |
| |
| |
| |
| |
( us-gaap:NonoperatingIncomeExpenseAbstract ) |
| |
| |
| |
| |
| |
| |
Interest income |
| |
120,264 | |
| |
| |
| |
378,484 | |
( us-gaap:InterestIncomeOther ) |
| |
| |
| |
| |
| |
| |
Interest - loans |
| |
(1,055,881 | ) |
| |
| |
| |
(2,098,494 | ) |
( us-gaap:InterestExpenseDebt ) |
| |
| |
| |
| |
| |
| |
Interest - ROU and other capitalized liabilities |
| |
537,956 | |
| |
| |
| |
(1,316,047 | ) |
( us-gaap:InterestExpenseOther ) |
| |
| |
| |
| |
| |
| |
Interest - related parties |
| |
(130,931 | ) |
| |
| |
| |
(268,376 | ) |
( us-gaap:InterestExpenseRelatedParty ) |
| |
| |
| |
| |
| |
| |
Gain (loss) from foreign currency transactions |
| |
(1,103,927 | ) |
| |
| |
| |
18,358 | |
( us-gaap:ForeignCurrencyTransactionGainLossRealized ) |
| |
| |
| |
| |
| |
| |
Other income |
| |
724,528 | |
| |
| |
| |
9,370 | |
( us-gaap:OtherNonoperatingIncome ) |
| |
| |
| |
| |
| |
| |
Total other (expenses) income, net |
| |
(907,991 | ) |
| |
| |
| |
(3,276,705 | ) |
( us-gaap:NonoperatingIncomeExpense ) |
| |
| |
| |
| |
| |
| |
(Loss) from operations before provision for income tax |
| |
(1,786,405 | ) |
| |
| |
| |
(7,516,742 | ) |
( us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest ) |
| |
| |
| |
| |
| |
| |
Provision for income tax |
| |
— | |
| |
| |
| |
— | |
( us-gaap:IncomeTaxExpenseBenefit ) |
| |
| |
| |
| |
| |
| |
Net (Loss) |
| |
(1,786,405 | ) |
| |
| |
| |
(7,516,742 | ) |
( us-gaap:ProfitLoss ) |
| |
| |
| |
| |
| |
| |
Net (loss) attributable to noncontrolling interest |
| |
(288,249 | ) |
| |
| |
| |
(1,023,628 | ) |
( us-gaap:NetIncomeLossAttributableToNoncontrollingInterest ) |
| |
| |
| |
| |
| |
| |
Net (loss) attributable to the Company's common shareholders |
| |
(1,498,156 | ) |
| |
| |
| |
(6,493,114 | ) |
( us-gaap:NetIncomeLoss ) |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Per Common Share - basic and diluted: |
| |
| |
| |
| |
| |
| |
( us-gaap:EarningsPerShareAbstract ) |
| |
| |
| |
| |
| |
| |
Net (loss) per Company's common share |
| |
(0.07 | ) |
| |
| |
| |
(0.31 | ) |
( us-gaap:EarningsPerShareBasicAndDiluted ) |
| |
| |
| |
| |
| |
| |
Weighted-average shares outstanding, basic and diluted * |
| |
20,700,000 | [1] |
| |
| |
| |
21,230,635 | [1] |
( us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted ) |
| |
| |
| |
| |
| |
| |
Comprehensive (loss) |
| |
| |
| |
| |
| |
| |
( us-gaap:ComprehensiveIncomeNetOfTaxAbstract ) |
| |
| |
| |
| |
| |
| |
Net (loss) |
| |
(1,786,405 | ) |
| |
| |
| |
(7,516,742 | ) |
( us-gaap:ProfitLoss ) |
| |
| |
| |
| |
| |
| |
Other comprehensive loss, net of tax |
| |
| |
| |
| |
| |
| |
( us-gaap:OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract ) |
| |
| |
| |
| |
| |
| |
Change in foreign currency translation adjustments |
| |
10,111,645 | |
| |
| |
| |
(302,829 | ) |
( us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax ) |
| |
| |
| |
| |
| |
| |
Total other comprehensive (loss) income |
| |
8,325,240 | |
| |
| |
| |
(7,819,571 | ) |
( us-gaap:OtherComprehensiveIncomeLossNetOfTax ) |
| |
| |
| |
| |
| |
| |
Comprehensive loss (income) attributable to non-controlling interest |
| |
1,915,810 | |
| |
| |
| |
(28,409 | ) |
( us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest ) |
| |
| |
| |
| |
| |
| |
Comprehensive (loss) income attributable to the Company's common shareholders |
| |
6,409,430 | |
| |
| |
| |
(7,791,162 | ) |
( us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Statement - Condensed Consolidated Statements of Operations and Other Comprehensive (Loss) (Unaudited) (USD $) |
( us-gaap:IncomeStatementAbstract ) |
|
Jun. 30, 2018 |
Jun. 30, 2018 |
Jun. 30, 2018 |
Jun. 30, 2018 |
( srt:ProductOrServiceAxis ) |
|
|
|
|
|
Rental Income [Member] |
Management Fee Income [Member] |
Other Income [Member] |
|
( srt:ProductsAndServicesDomain ) |
|
|
|
|
Revenues |
| |
| |
| |
| |
( us-gaap:RevenuesAbstract ) |
| |
| |
| |
| |
Total revenues |
1,899,585 | |
2,976,834 | |
445,903 | |
5,322,322 | |
( us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax ) |
| |
| |
| |
| |
Operating expenses |
| |
| |
| |
| |
( us-gaap:OperatingExpensesAbstract ) |
| |
| |
| |
| |
Selling expenses |
| |
| |
| |
2,549,947 | |
( us-gaap:SellingExpense ) |
| |
| |
| |
| |
Depreciation and amortization |
| |
| |
| |
717,923 | |
( us-gaap:DepreciationAndAmortization ) |
| |
| |
| |
| |
Lease expenses |
| |
| |
| |
3,536,610 | |
( us-gaap:LeaseCost ) |
| |
| |
| |
| |
Payroll and payroll related expenses |
| |
| |
| |
700,804 | |
( us-gaap:LaborAndRelatedExpense ) |
| |
| |
| |
| |
Business taxes |
| |
| |
| |
229,144 | |
( us-gaap:TaxesExcludingIncomeAndExciseTaxes ) |
| |
| |
| |
| |
Operating lease expenses |
| |
| |
| |
229,827 | |
( us-gaap:OperatingLeaseExpense ) |
| |
| |
| |
| |
Other general and administrative expenses |
| |
| |
| |
543,669 | |
( us-gaap:OtherGeneralAndAdministrativeExpense ) |
| |
| |
| |
| |
Total operating expenses |
| |
| |
| |
8,507,924 | |
( us-gaap:OperatingExpenses ) |
| |
| |
| |
| |
(Loss) from operations |
| |
| |
| |
(3,185,602 | ) |
( us-gaap:OperatingIncomeLoss ) |
| |
| |
| |
| |
Other income (expenses) |
| |
| |
| |
| |
( us-gaap:NonoperatingIncomeExpenseAbstract ) |
| |
| |
| |
| |
Interest income |
| |
| |
| |
131,852 | |
( us-gaap:InterestIncomeOther ) |
| |
| |
| |
| |
Interest - loans |
| |
| |
| |
(2,093,545 | ) |
( us-gaap:InterestExpenseDebt ) |
| |
| |
| |
| |
Interest - ROU and other capitalized liabilities |
| |
| |
| |
(144,308 | ) |
( us-gaap:InterestExpenseOther ) |
| |
| |
| |
| |
Interest - related parties |
| |
| |
| |
(262,755 | ) |
( us-gaap:InterestExpenseRelatedParty ) |
| |
| |
| |
| |
Gain (loss) from foreign currency transactions |
| |
| |
| |
(378,877 | ) |
( us-gaap:ForeignCurrencyTransactionGainLossRealized ) |
| |
| |
| |
| |
Other income |
| |
| |
| |
3,254,898 | |
( us-gaap:OtherNonoperatingIncome ) |
| |
| |
| |
| |
Total other (expenses) income, net |
| |
| |
| |
507,265 | |
( us-gaap:NonoperatingIncomeExpense ) |
| |
| |
| |
| |
(Loss) from operations before provision for income tax |
| |
| |
| |
(2,678,337 | ) |
( us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest ) |
| |
| |
| |
| |
Provision for income tax |
| |
| |
| |
— | |
( us-gaap:IncomeTaxExpenseBenefit ) |
| |
| |
| |
| |
Net (Loss) |
| |
| |
| |
(2,678,337 | ) |
( us-gaap:ProfitLoss ) |
| |
| |
| |
| |
Net (loss) attributable to noncontrolling interest |
| |
| |
| |
(564,667 | ) |
( us-gaap:NetIncomeLossAttributableToNoncontrollingInterest ) |
| |
| |
| |
| |
Net (loss) attributable to the Company's common shareholders |
| |
| |
| |
(2,113,670 | ) |
( us-gaap:NetIncomeLoss ) |
| |
| |
| |
| |
|
| |
| |
| |
| |
|
| |
| |
| |
| |
Per Common Share - basic and diluted: |
| |
| |
| |
| |
( us-gaap:EarningsPerShareAbstract ) |
| |
| |
| |
| |
Net (loss) per Company's common share |
| |
| |
| |
(0.10 | ) |
( us-gaap:EarningsPerShareBasicAndDiluted ) |
| |
| |
| |
| |
Weighted-average shares outstanding, basic and diluted * |
| |
| |
| |
20,700,000 | [1] |
( us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted ) |
| |
| |
| |
| |
Comprehensive (loss) |
| |
| |
| |
| |
( us-gaap:ComprehensiveIncomeNetOfTaxAbstract ) |
| |
| |
| |
| |
Net (loss) |
| |
| |
| |
(2,678,337 | ) |
( us-gaap:ProfitLoss ) |
| |
| |
| |
| |
Other comprehensive loss, net of tax |
| |
| |
| |
| |
( us-gaap:OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract ) |
| |
| |
| |
| |
Change in foreign currency translation adjustments |
| |
| |
| |
3,604,566 | |
( us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax ) |
| |
| |
| |
| |
Total other comprehensive (loss) income |
| |
| |
| |
926,229 | |
( us-gaap:OtherComprehensiveIncomeLossNetOfTax ) |
| |
| |
| |
| |
Comprehensive loss (income) attributable to non-controlling interest |
| |
| |
| |
637,751 | |
( us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest ) |
| |
| |
| |
| |
Comprehensive (loss) income attributable to the Company's common shareholders |
| |
| |
| |
288,478 | |
( us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest ) |
| |
| |
| |
| |
Footnotes: |
1. | | The shares are presented on a retroactive basis to reflect the founder shares issuance. See Note 16. |
|
(End Statement - Condensed Consolidated Statements of Operations and Other Comprehensive (Loss) (Unaudited)) |
|
Statement - Condensed Consolidated Statements of Changes in Deficit (Unaudited) |
Statement - Condensed Consolidated Statements of Changes in Deficit (Unaudited) (USD $) |
|
|
|
|
|
|
( us-gaap:StatementOfStockholdersEquityAbstract ) |
|
|
|
|
|
|
|
Common Stock [Member] |
Additional Paid-in Capital [Member] |
Accumulated Deficit [Member] |
Accumulated Other Comprehensive Loss [Member] |
Noncontrolling Interest [Member] |
<Total> |
( us-gaap:StatementEquityComponentsAxis ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
( us-gaap:EquityComponentDomain ) |
|
|
|
|
|
|
From Jan. 1, 2018 to Mar. 31, 2018 |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Balance beginning |
2,070 | |
10,816,289 | |
(190,411,237 | ) |
(12,439,971 | ) |
(43,268,669 | ) |
(235,301,518 | ) |
( us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest ) |
| |
| |
| |
| |
| |
| |
Balance beginning, shares |
20,700,000 | |
| |
| |
| |
| |
| |
( us-gaap:SharesOutstanding ) |
| |
| |
| |
| |
| |
| |
Common stock issued |
| |
| |
| |
| |
| |
| |
( us-gaap:AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts ) |
| |
| |
| |
| |
| |
| |
Other comprehensive income (loss): change in foreign currency translation adjustment |
— | |
— | |
— | |
(5,229,019 | ) |
(1,278,060 | ) |
(6,507,079 | ) |
( us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax ) |
| |
| |
| |
| |
| |
| |
Initial public offering closed on March 28, 2019 |
| |
| |
| |
| |
| |
| |
( us-gaap:StockIssuedDuringPeriodValueNewIssues ) |
| |
| |
| |
| |
| |
| |
Initial public offering closed on March 28, 2019 , shares |
| |
| |
| |
| |
| |
| |
( us-gaap:StockIssuedDuringPeriodSharesNewIssues ) |
| |
| |
| |
| |
| |
| |
Subscription receivable |
| |
| |
| |
| |
| |
| |
( custom:AdjustmentsToAdditionalPaidInCapitalSubscriptionreceivable [Extension] ) |
| |
| |
| |
| |
| |
| |
Received payments to subscription receivable |
| |
| |
| |
| |
| |
| |
( custom:AdjustmentsToAdditionalPaidInCapitalToSubscriptionReceivablePayments [Extension] ) |
| |
| |
| |
| |
| |
| |
Net (loss) |
— | |
— | |
(615,514 | ) |
— | |
(276,418 | ) |
(891,932 | ) |
( us-gaap:ProfitLoss ) |
| |
| |
| |
| |
| |
| |
Balance ending |
2,070 | |
10,816,289 | |
(191,026,751 | ) |
(17,668,990 | ) |
(44,823,147 | ) |
(242,700,529 | ) |
( us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest ) |
| |
| |
| |
| |
| |
| |
Balance ending, shares |
20,700,000 | |
| |
| |
| |
| |
| |
( us-gaap:SharesOutstanding ) |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
From Apr. 1, 2018 to Jun. 30, 2018 |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Balance beginning |
2,070 | |
10,816,289 | |
(191,026,751 | ) |
(17,668,990 | ) |
(44,823,147 | ) |
(242,700,529 | ) |
( us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest ) |
| |
| |
| |
| |
| |
| |
Balance beginning, shares |
20,700,000 | |
| |
| |
| |
| |
| |
( us-gaap:SharesOutstanding ) |
| |
| |
| |
| |
| |
| |
Common stock issued |
| |
| |
| |
| |
| |
| |
( us-gaap:AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts ) |
| |
| |
| |
| |
| |
| |
Other comprehensive income (loss): change in foreign currency translation adjustment |
— | |
— | |
— | |
8,319,015 | |
1,792,630 | |
10,111,645 | |
( us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax ) |
| |
| |
| |
| |
| |
| |
Initial public offering closed on March 28, 2019 |
| |
| |
| |
| |
| |
| |
( us-gaap:StockIssuedDuringPeriodValueNewIssues ) |
| |
| |
| |
| |
| |
| |
Initial public offering closed on March 28, 2019 , shares |
| |
| |
| |
| |
| |
| |
( us-gaap:StockIssuedDuringPeriodSharesNewIssues ) |
| |
| |
| |
| |
| |
| |
Subscription receivable |
| |
| |
| |
| |
| |
| |
( custom:AdjustmentsToAdditionalPaidInCapitalSubscriptionreceivable [Extension] ) |
| |
| |
| |
| |
| |
| |
Received payments to subscription receivable |
| |
| |
| |
| |
| |
| |
( custom:AdjustmentsToAdditionalPaidInCapitalToSubscriptionReceivablePayments [Extension] ) |
| |
| |
| |
| |
| |
| |
Net (loss) |
— | |
— | |
(1,498,156 | ) |
— | |
(288,249 | ) |
(1,786,405 | ) |
( us-gaap:ProfitLoss ) |
| |
| |
| |
| |
| |
| |
Balance ending |
2,070 | |
10,816,289 | |
(192,524,907 | ) |
(9,349,975 | ) |
(43,318,766 | ) |
(234,375,289 | ) |
( us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest ) |
| |
| |
| |
| |
| |
| |
Balance ending, shares |
20,700,000 | |
| |
| |
| |
| |
| |
( us-gaap:SharesOutstanding ) |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
From Jan. 1, 2019 to Mar. 31, 2019 |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Balance beginning |
2,070 | |
10,816,289 | |
(194,188,636 | ) |
(3,739,981 | ) |
(42,242,097 | ) |
(229,352,355 | ) |
( us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest ) |
| |
| |
| |
| |
| |
| |
Balance beginning, shares |
20,700,000 | |
| |
| |
| |
| |
| |
( us-gaap:SharesOutstanding ) |
| |
| |
| |
| |
| |
| |
Common stock issued |
| |
| |
| |
| |
| |
| |
( us-gaap:AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts ) |
| |
| |
| |
| |
| |
| |
Other comprehensive income (loss): change in foreign currency translation adjustment |
— | |
— | |
— | |
(3,609,620 | ) |
(881,713 | ) |
(4,491,333 | ) |
( us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax ) |
| |
| |
| |
| |
| |
| |
Initial public offering closed on March 28, 2019 |
101 | |
1,010,899 | |
— | |
— | |
— | |
1,011,000 | |
( us-gaap:StockIssuedDuringPeriodValueNewIssues ) |
| |
| |
| |
| |
| |
| |
Initial public offering closed on March 28, 2019 , shares |
1,011,000 | |
| |
| |
| |
| |
| |
( us-gaap:StockIssuedDuringPeriodSharesNewIssues ) |
| |
| |
| |
| |
| |
| |
Subscription receivable |
— | |
(891,000 | ) |
— | |
— | |
— | |
(891,000 | ) |
( custom:AdjustmentsToAdditionalPaidInCapitalSubscriptionreceivable [Extension] ) |
| |
| |
| |
| |
| |
| |
Received payments to subscription receivable |
| |
| |
| |
| |
| |
| |
( custom:AdjustmentsToAdditionalPaidInCapitalToSubscriptionReceivablePayments [Extension] ) |
| |
| |
| |
| |
| |
| |
Net (loss) |
— | |
— | |
(1,420,929 | ) |
— | |
(245,003 | ) |
(1,665,932 | ) |
( us-gaap:ProfitLoss ) |
| |
| |
| |
| |
| |
| |
Balance ending |
2,171 | |
10,936,188 | |
(195,609,565 | ) |
(7,349,601 | ) |
(43,368,813 | ) |
(235,389,620 | ) |
( us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest ) |
| |
| |
| |
| |
| |
| |
Balance ending, shares |
21,711,000 | |
| |
| |
| |
| |
| |
( us-gaap:SharesOutstanding ) |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
From Apr. 1, 2019 to Jun. 30, 2019 |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Balance beginning |
2,171 | |
10,936,188 | |
(195,609,565 | ) |
(7,349,601 | ) |
(43,368,813 | ) |
(235,389,620 | ) |
( us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest ) |
| |
| |
| |
| |
| |
| |
Balance beginning, shares |
21,711,000 | |
| |
| |
| |
| |
| |
( us-gaap:SharesOutstanding ) |
| |
| |
| |
| |
| |
| |
Common stock issued |
| |
| |
| |
| |
| |
| |
( us-gaap:AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts ) |
| |
| |
| |
| |
| |
| |
Other comprehensive income (loss): change in foreign currency translation adjustment |
— | |
— | |
— | |
3,335,200 | |
853,304 | |
4,188,504 | |
( us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax ) |
| |
| |
| |
| |
| |
| |
Initial public offering closed on March 28, 2019 |
| |
| |
| |
| |
| |
| |
( us-gaap:StockIssuedDuringPeriodValueNewIssues ) |
| |
| |
| |
| |
| |
| |
Initial public offering closed on March 28, 2019 , shares |
| |
| |
| |
| |
| |
| |
( us-gaap:StockIssuedDuringPeriodSharesNewIssues ) |
| |
| |
| |
| |
| |
| |
Subscription receivable |
| |
| |
| |
| |
| |
| |
( custom:AdjustmentsToAdditionalPaidInCapitalSubscriptionreceivable [Extension] ) |
| |
| |
| |
| |
| |
| |
Received payments to subscription receivable |
— | |
891,000 | |
— | |
— | |
— | |
891,000 | |
( custom:AdjustmentsToAdditionalPaidInCapitalToSubscriptionReceivablePayments [Extension] ) |
| |
| |
| |
| |
| |
| |
Net (loss) |
— | |
— | |
(5,072,185 | ) |
— | |
(778,625 | ) |
(5,850,810 | ) |
( us-gaap:ProfitLoss ) |
| |
| |
| |
| |
| |
| |
Balance ending |
2,171 | |
11,827,188 | |
(200,681,750 | ) |
(4,014,401 | ) |
(43,294,134 | ) |
(236,160,926 | ) |
( us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest ) |
| |
| |
| |
| |
| |
| |
Balance ending, shares |
21,711,000 | |
| |
| |
| |
| |
| |
( us-gaap:SharesOutstanding ) |
| |
| |
| |
| |
| |
| |
|
(End Statement - Condensed Consolidated Statements of Changes in Deficit (Unaudited)) |
|
Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) |
Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) |
6 Months Ended |
( us-gaap:StatementOfCashFlowsAbstract ) |
|
|
Jun. 30, 2019 |
Jun. 30, 2018 |
|
|
|
|
|
|
|
|
|
Cash Flows from Operating Activities: |
| |
| |
( us-gaap:NetCashProvidedByUsedInOperatingActivitiesAbstract ) |
| |
| |
Net (loss) |
(7,516,742 | ) |
(2,678,337 | ) |
( us-gaap:ProfitLoss ) |
| |
| |
Adjustments to reconcile net loss to net cash used in operating activities: |
| |
| |
( us-gaap:AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract ) |
| |
| |
Depreciation and amortization |
646,331 | |
717,923 | |
( us-gaap:DepreciationDepletionAndAmortization ) |
| |
| |
Amortization of debt issuance costs |
27,870 | |
— | |
( us-gaap:AmortizationOfFinancingCosts ) |
| |
| |
Foreign currency exchange gain on loan and interest repayments to related party |
(18,357 | ) |
378,877 | |
( custom:ForeignCurrencyExchangeLossOnLoanAndInterestRepaymentsToRelatedParty [Extension] ) |
| |
| |
Gain on disposal of fixed assets |
(1,960 | ) |
(24 | ) |
( us-gaap:GainLossOnSaleOfPropertyPlantEquipment ) |
| |
| |
Allowance for doubtful accounts |
3,126,023 | |
| |
( us-gaap:ProvisionForDoubtfulAccounts ) |
| |
| |
Non cash operating lease expenses |
(6,825 | ) |
24,187 | |
( custom:NonCashOperatingLeaseExpenses [Extension] ) |
| |
| |
Changes in operating assets and liabilities |
| |
| |
( us-gaap:IncreaseDecreaseInOperatingCapitalAbstract ) |
| |
| |
Decrease (increase) in tenant and sundry receivables |
70,009 | |
(266,790 | ) |
( us-gaap:IncreaseDecreaseInOtherReceivables ) |
| |
| |
Decrease (Increase) in prepaid expense and other assets |
73,353 | |
(242,282 | ) |
( us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets ) |
| |
| |
(Increase) in short-term loan interest receivable |
(378,339 | ) |
— | |
( custom:IncreaseInShorttermLoanInterestReceivable [Extension] ) |
| |
| |
Increase in SML loan interest payable |
1,265,922 | |
— | |
( us-gaap:IncreaseDecreaseInInterestPayableNet ) |
| |
| |
Increase (Decrease) in accounts payable and accrued liabilities |
1,910,998 | |
(222,824 | ) |
( us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities ) |
| |
| |
Increase in deferred rental income |
423,503 | |
652,306 | |
( us-gaap:IncreaseDecreaseInContractWithCustomerLiability ) |
| |
| |
Increase in interest payable to related party |
268,283 | |
263,977 | |
( us-gaap:IncreaseDecreaseInDueToRelatedParties ) |
| |
| |
(Decrease)Increase in other payables |
(546,218 | ) |
3,001,485 | |
( us-gaap:IncreaseDecreaseInOtherOperatingLiabilities ) |
| |
| |
(Decrease) Increase in lease liabilities payable |
(61,814 | ) |
15,175 | |
( custom:IncreaseDecreaseInLeaseLiabilitiesPayable [Extension] ) |
| |
| |
Net Cash (Used in) Provide by Operating Activities |
(717,963 | ) |
1,643,673 | |
( us-gaap:NetCashProvidedByUsedInOperatingActivities ) |
| |
| |
|
| |
| |
|
| |
| |
Cash Flows from Investing Activities: |
| |
| |
( us-gaap:NetCashProvidedByUsedInInvestingActivitiesAbstract ) |
| |
| |
Capital expenditures - fixed assets and improvements |
(14,318 | ) |
(106,300 | ) |
( us-gaap:PaymentsForCapitalImprovements ) |
| |
| |
Short-term loan receivable |
(2,596,867 | ) |
(3,818,722 | ) |
( us-gaap:PaymentsToAcquireLoansReceivable ) |
| |
| |
Net Cash (Used in) Investing Activities |
(2,611,185 | ) |
(3,925,022 | ) |
( us-gaap:NetCashProvidedByUsedInInvestingActivities ) |
| |
| |
|
| |
| |
|
| |
| |
Cash Flows from Financing Activities: |
| |
| |
( us-gaap:NetCashProvidedByUsedInFinancingActivitiesAbstract ) |
| |
| |
Proceeds from bank loans |
1,508,745 | |
1,726,804 | |
( us-gaap:ProceedsFromBankDebt ) |
| |
| |
Proceeds from initial public offering |
1,011,000 | |
— | |
( us-gaap:ProceedsFromIssuanceInitialPublicOffering ) |
| |
| |
Repayment of bank loans |
(270,997 | ) |
(428,898 | ) |
( us-gaap:RepaymentsOfBankDebt ) |
| |
| |
Advance from shareholder |
949,420 | |
529,899 | |
( us-gaap:ProceedsFromContributionsFromAffiliates ) |
| |
| |
Advance from (repayment to) related individual |
40,000 | |
(65,612 | ) |
( us-gaap:ProceedsFromRepaymentsOfRelatedPartyDebt ) |
| |
| |
Increase in property financing agreements payable |
48,152 | |
139,735 | |
( custom:IncreaseInPropertyFinancingAgreementsPayable [Extension] ) |
| |
| |
Net Cash Provided by Financing Activities |
3,286,320 | |
1,901,928 | |
( us-gaap:NetCashProvidedByUsedInFinancingActivities ) |
| |
| |
Effect of exchange rate changes on cash and cash equivalents |
22,058 | |
(1,055 | ) |
( us-gaap:EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations ) |
| |
| |
Net (decrease) in cash, cash equivalents and restricted cash |
(20,770 | ) |
(380,476 | ) |
( us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect ) |
| |
| |
Cash, cash equivalents and restricted cash at beginning of periods |
319,120 | |
873,918 | |
( us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations ) |
| |
| |
Cash, cash equivalents and restricted cash at end of periods |
298,350 | |
493,442 | |
( us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations ) |
| |
| |
|
| |
| |
|
| |
| |
Reconciliation of Cash, Cash Equivalents and Restricted Cash |
| |
| |
( us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract ) |
| |
| |
Cash and cash equivalents at beginning of periods |
188,921 | |
755,027 | |
( us-gaap:CashAndCashEquivalentsAtCarryingValue ) |
| |
| |
Restricted cash at beginning of periods |
130,199 | |
118,891 | |
( us-gaap:RestrictedCash ) |
| |
| |
Cash, cash equivalents and restricted cash at beginning of periods |
319,120 | |
873,918 | |
( us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents ) |
| |
| |
Cash and cash equivalents at end of periods |
177,975 | |
400,716 | |
( us-gaap:CashAndCashEquivalentsAtCarryingValue ) |
| |
| |
Restricted cash at end of periods |
120,375 | |
92,726 | |
( us-gaap:RestrictedCash ) |
| |
| |
Cash, cash equivalents and restricted cash at end of periods |
298,350 | |
493,442 | |
( us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents ) |
| |
| |
|
| |
| |
|
| |
| |
Supplemental Disclosure Cash Flow Information: |
| |
| |
( us-gaap:SupplementalCashFlowElementsAbstract ) |
| |
| |
Cash paid for: |
| |
| |
( custom:CashPaidAbstract [Extension] ) |
| |
| |
Interest |
968,074 | |
1,423,581 | |
( us-gaap:InterestPaidNet ) |
| |
| |
Income tax |
— | |
— | |
( us-gaap:IncomeTaxesPaidNet ) |
| |
| |
|
(End Statement - Condensed Consolidated Statements of Cash Flows (Unaudited)) |
|
Disclosure - Organization and Segment Information |
Disclosure - Organization and Segment Information (USD $) |
6 Months Ended |
( us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Organization and Segment Information |
NOTE
1 – ORGANIZATION AND SEGMENT INFORMATION
Organization
Victory
Commercial Management Inc. (hereinafter referred to as “VCM”, and where appropriate, the terms “Company”,
“we”, “us” or “our” are also referred to VCM and its wholly owned and majority owned subsidiaries
as a whole) was incorporated on July 5, 2017 under the laws of Nevada.
On
July 13, 2017, VCM formed a wholly-owned subsidiary, Victory Commercial Investment Ltd. (“VCI”) under the laws of
British Virgin Islands.
Sino
Pride Development Limited (“Sino Pride”) is a Hong Kong company, incorporated on May 26, 1989. Sino Pride is a holding
company that directly owns an 80% equity interest in Dalian Victory Plaza Development Co., Ltd. (“DVPD”) and directly
owns a 95% equity interest in Dalian Victory Business Management Co., Ltd. (“DVBM”).
DVPD
was incorporated as a Sino-foreign cooperative joint venture on March 29, 1993 under the laws of the People’s Republic of
China (“PRC” or “China”). Sino Pride owns an 80% equity interest of DVPD while Dalian Victory Development
Co., Limited (“DVDC”), a state-owned enterprise in China, owns a 20% equity interest in DVPD.
DVBM
was incorporated as a joint venture on September 12, 2000 under the laws of the PRC. Sino Pride owns a 95% equity interest in
DVBM and DVPD owns a 5% equity interest in DVBM.
DVPM
was incorporated on June 6, 2018 as limited liability company under the laws of the PRC. Sino Pride owns 100% of the equity of
DVPM. DVPM was formed as a property management company and will play a similar role as DVBM to improve the management of Victory
Plaza. DVPM did not have any business activities as of the issuance date of this report.
Iven
International Group Limited, is a company registered in Hong Kong (“Iven”). From October 31, 2016 to June 30, 2017,
Alex Brown beneficially owned 100% of Iven, among which, a 70% equity interest was held directly, and a 30% equity interest was
held indirectly through Dalian Yiwen New Materials Technology Development Co., Ltd, a PRC entity 80% owned by Alex Brown and 20%
owned by his spouse. On June 30, 2017, Alex Brown and Dalian Yiwen New Material Technology Development Co., Ltd transferred their
respective ownership of Iven to Winner Ascent Investment Limited, a Hong Kong limited liability company solely owned by Alex Brown.
Victory
Plaza Holding Limited, (“VP Holding”) a BVI company, was the original owner of Sino Pride. VP Holding incurred significant
losses from the operations of Sino Pride and its subsidiaries DVPD and DVBM. VP Holding and Sino Pride had no relationship or
affiliation with us or Alex Brown prior to the corporate restructuring.
November
30, 2016 Transaction
In
November 2016, Iven entered and executed an agreement of “Assignment of Common Stock and Debt Rights” (“the
Original Agreement”) with VP Holding, the former shareholder of Sino pride. Pursuant to the Original Agreement, Iven acquired
all 30,000,000 shares of common stock of Sino Pride then outstanding and assumed a shareholder loan and loan interest totaling
$52,750,000 (Sino Pride owed to VP Holding) for a nominal consideration of HK$ 1 (approximately US$0.13) from VP Holding. Change
of ownership in Sino Pride from VP Holding to Iven had no impact on Sino Pride’s ownership in DVPD and DVBM (operating entities).
Iven
was a private shell company with no operations or nominal assets, which is 100% directly and indirectly owned by Mr. Brown.
Iven was the legal acquirer in the November 30, 2016 acquisition. At the date of acquisition, Sino Pride was a holding company
of two China-based operating entities, DVPD and DVBM. The accounting acquirer usually is the combining entity whose relative
size (measured in, for example, assets, revenues, or earnings) is significantly larger than that of the other combining entity
or entities as per ASC 805-10-55-13. Thus, Sino Pride and Subsidiaries were treated as the accounting acquirer in connection with
the November 2016 transaction.
The
November 2016 transaction was treated as a reverse acquisition or recapitalization. The accounting treatment is similar
to that resulting from a reverse acquisition, except that no goodwill or other intangible assets should be recorded. Accordingly,
the historical financial statements are those of Sino Pride and its Subsidiaries.
September
4, 2017 Transaction
On
September 4, 2017, VCI signed an agreement of “Assignment of All Outstanding Shares and All Debt Rights Agreement”
(“the Agreement”) with Iven. Pursuant to the Agreement, VCI acquired all 30,000,000 shares of common stock of Sino
Pride then outstanding and assumed shareholder debt and loan rights totaling HK$ 493,807,633 (approximately $64,208,000) (Sino
Pride owed to VP Holding) including an outstanding shareholder loan of HK$ 408,409,628 (approximately $53,093,000) for a nominal
consideration of HK$ 1 (approximately US$0.13) from Iven. The change of ownership in Sino Pride from Iven to VCI had no impact
on Sino Pride’s ownership in DVPD and DVBM (operating entities).
Iven
and VCI were under common control of our controlling shareholder. The transfer of ownership in Sino Pride from Iven to VCI was
a part of the corporate restructuring to prepare the Company to list in the U.S. capital markets.
The
Company accounted for the September 2017 transaction as a transaction between entities under common control based on guidance
provided by ASC 805-50-25. Following the above transactions, VCI gained control over Sino Pride and its subsidiaries, and, as
a result, VCM gained control over VCI, Sino Pride and its Subsidiaries.
The
Company together with its wholly-owned subsidiaries, VCI, Sino Pride and majority owned subsidiaries, DVBM and DVPM were effectively
controlled by the same shareholder, Mr. Brown before and after the September 2017 corporate restructuring, and is considered under
common control, which has been accounted for similar to the pooling method of accounting. The accompanying consolidated financial
statements have been prepared as if the current corporate structure had been in existence at the beginning of the periods presented.
Accordingly, the historical financial statements are those of Sino Pride and its Subsidiaries.
Segment
Information
The
Company and its subsidiaries generate most of the income from rental and building management services. The Company manages one
shopping center currently. Geographically, all income is generated from Dalian, China. | |
( us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock ) |
| |
|
(End Disclosure - Organization and Segment Information) |
|
Disclosure - Going Concern |
Disclosure - Going Concern (USD $) |
6 Months Ended |
( OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Going Concern |
NOTE
2 – GOING CONCERN
The
accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going
concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. As
indicated in the accompanying condensed consolidated financial statements, the Company had a net loss of $5,850,810 and
$1,786,405 for the three months ended June 30, 2019 and 2018, respectively; a net loss of $7,516,742 and $2,678,337 for
the six months ended June 30, 2019 and 2018, respectively; an accumulated deficit of $200,681,750 at June 30, 2019. The
Company has an unrestricted cash balance of $177,975 as of June 30, 2019. The current cash balance available to
the Company cannot be projected to cover the required payments of the operating expenses arising from normal business operations
and to meet the required payments of buy-backs and lease-backs if settled with the claims filed by the property owners as disclosed
below for the next twelve months from the issuance date of this report. Management cannot provide assurance that the Company will
ultimately achieve profitable operations or become cash flow positive or raise additional debt and/ or equity capital. Management
believes that its capital resources are not currently adequate to continue operating and maintaining its business for the next
twelve months from the issuance date of this report.
As
of June 30, 2019, the Company had property financing agreements payable of $81,307,579, lease liabilities payable of $396,681,
expired lease-back payables of $5,520,308, and buy-back payables of $4,207,203. As of June 30, 2019, there were 543 lawsuits case
against the Company in Dalian City, China. Litigants claimed that the Company did not buy back the property pursuant to the sales
contract or the Company did not pay the promised lease-back rent on time. These claims amounted to $24,586,713 (RMB 168,920,550
translated at June 30, 2019 exchange rate). These payables were included in and reported under the caption of “Property
financing agreements payable”, “Lease liabilities” and “Other payables”. As of June 30, 2019, the
Company accrued $4,805,518 for possible extra litigation charges. The Company will record attorney fees when invoiced. The attorney
fees in connection with litigation was $3,550 and $31,784 for the three months ended June 30, 2019 and 2018, respectively; 3,550
and $98,218 for the six months ended June 30, 2019 and 2018, respectively
These
lawsuits are caused by our failure of buying back the properties when requested to or our failure of paying rents for certain
lease-back units. Subsequently, certain units owned by DVPD have been frozen from transfer or disposition by the courts. DVPD
has been restricted from free transfer, disposal, and pledge of its 5% equity interest in DVBM from March 2, 2017 to June 30,
2019. The 5% equity interest in DVBM is still restricted as the date of report. In addition, DVPD has be listed as a “dishonest
debtor” by the local courts in the PRC. Once listed as a dishonest debtor, DVPD can be subject to certain restrictions in
connection with commercial loans at the banks’ discretion; the purchase or transfer of properties and land use rights; and
renovation, upgrade or renovation of properties. In addition, the bank accounts of DVPD are frozen by the courts which allow the
inflow of cash into the bank accounts but prohibit the outflow of cash.
Management
believes that the recorded total property financing agreements payable, guaranteed rent payable, buy-backs payable, certain lease
liabilities payable, accrued liabilities for additional payable from litigation, and expired lease-back payables of $96,237,289
is a reasonable estimation. Should the settlement of these liabilities exceed management’s estimates, additional accruals
will be necessary.
During
2017, due to lack of effective controls and monitoring procedures and processes, DVPD provided a total of 293 square meters as
collateral to help one board member of DVPD, one employee of DVPD (now a former employee) and one unrelated individual to acquire
three separate bank working capital loans. There was no gain or profit for the Company to provide such collateral. The one-year
period is now past due. The Company has a risk of losing these properties if these individuals are not able to repay these bank
loans.
As of June 30, 2019, the Company has spoken with the respective individuals to settle the issue with the
Company by either repaying the bank loan or replacing the collateral with their own assets so as to release the Company’s
property by December 31, 2019. The Company plans to take legal action against the individuals if they fail to adopt either action
by December 31, 2019.
In
order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s
plans to obtain such resources for the Company include (1) obtaining capital from the sale of its equity securities (2) short-term
and long-term borrowings from banks and third-parties, and (3) short-term borrowings from stockholders or other related parties
when needed. However, management cannot provide any assurance that the Company will be successful in accomplishing any of its
plans.
Additionally,
even if the Company does raise sufficient capital to support its operations and generates adequate revenues, there can be no assurances
that the revenues will be sufficient to enable it to improve to a level where it will generate profits and positive cash flows
from operations. These matters raise substantial doubt about the Company’s ability to continue as a going concern.
The
accompanying condensed unaudited consolidated financial statements have been prepared assuming that the Company will continue
as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business.
The accompanying condensed unaudited consolidated financial statements do not include any adjustments related to the recoverability
and or classification of the recorded asset amounts and or the classification of the liabilities that might be necessary should
the Company be unable to continue as a going concern. | |
( us-gaap:SubstantialDoubtAboutGoingConcernTextBlock ) |
| |
|
(End Disclosure - Going Concern) |
|
Disclosure - Summary of Significant Accounting Policies |
Disclosure - Summary of Significant Accounting Policies (USD $) |
6 Months Ended |
( AccountingPoliciesAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Summary of Significant Accounting Policies |
NOTE
3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis
of consolidation
The
accompanying unaudited condensed financial statements do not include all disclosures normally required by generally accepted accounting
principles. These statements should be read in conjunction with the annual financial statements included in the Form 10-K filed
with the U.S. Securities and Exchange Commission. In the opinion of management, all adjustments necessary for a fair presentation
have been included in the accompanying unaudited condensed financial statements and consist of only normal recurring adjustments,
except as disclosed herein. The results of operations for the three months and six months ended June 30, 2019 are not necessarily
indicative of the results that may be expected for the full year ending December 31, 2019.
The
Company’s condensed unaudited consolidated financial statements include the accounts of VCM, VCI, Sino Pride, DVPD, DVBM,
and DVPM at June 30, 2019 and for the three and six months ended June 30, 2019. All inter-company accounts and transactions
among the consolidation group have been eliminated in consolidation.
Use
of Estimates
The
preparation of the condensed unaudited consolidated financial statements in conformity with accounting principles generally accepted
in the U.S. requires management to makes estimates and assumptions that affect the reported amounts of assets, liabilities, revenues,
expenses, and the related disclosures at the date of the consolidated financial statements and during the reporting periods. Actual
results could materially differ from these estimates. Significant estimates include the liabilities recorded for property financing
agreements payable, buy-back payables, lease liabilities payable, expired lease-back payables and the estimated liability accrued
for additional litigation charges related to the numerous lawsuits. Other estimates include the allowance for doubtful accounts
on tenant receivables and other receivables, recoverability of long-lived assets, the useful life of rental properties, property
and equipment and intangible assets, assumptions used in assessing impairment of long-term assets and the valuation of deferred
tax assets.
Foreign
Currency Translation
The
reporting currency of the Company is the U.S. dollar. The functional currency of VCM and VCI is the U.S. dollar, the functional
currency of DVPD, DVBM, and DVPM is the Chinese Renminbi (“RMB”), and the functional currency of Sino Pride and DVPM
is the Hong Kong Dollar (“HK$”). The condensed unaudited consolidated financial statements of the Company have been
translated into U.S. dollars in accordance with ASC 830-30 “Translation of Financial Statements”. The financial information
is first prepared in RMB or HK$ and then translated into the U.S. dollar at the period-end exchange rates as to assets and liabilities
and at average exchange rates as to revenue, expenses and cash flows. Equity accounts are translated at their historical exchange
rates when the capital transactions occurred. As a result, amounts relating to assets and liabilities reported on the statements
of cash flows may not necessarily agree with the changes in the corresponding balance sheets. Translation adjustments resulting
from the process of translating the local currency financial statements into the U.S. dollar are included in accumulated other
comprehensive income (loss). The cumulative translation adjustment and effect of exchange rate changes on cash for the six months
ended June 30, 2019 and the year ended December 31, 2018 were $(4,014,401) and $(3,739,981), respectively. Transactions
denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing on the transaction
dates. Assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rate
prevailing at each balance sheet date with any transaction gains and losses that arise from exchange rate fluctuations on transactions
denominated in a currency other than the functional currency are included in the results of operations as incurred.
Pursuant
to paragraph 830-20-35-1, the intra-entity (intercompany transactions) foreign currency transactions whose terms are denominated
in the currency other than the Company’s functional currency and settlement is anticipated in the foreseeable future (hence
not long-term investment nature), the increases or decreases in expected functional currency cash flows are included in determining
net income (loss) for the period in which the exchange rate changes. The Company has an inter-company loan denominated in US dollars.
The repayment of the loan is required when the Company is profitable. The loan proceeds, repayment and accrued interest were tracked
in US dollars. The Company uses the bank spot exchange rate to record proceeds and repayments in RMB. By the end of the reporting
period, the Company will adjust loan and interest payable balances from US dollars to RMB by using the period ending exchange
rate. Any gain or loss from foreign currency exchange will be recognized in the consolidated statements of operations. There were
$524,372 and $1,103,927 foreign currency transaction loss for the three months ended June 30, 2019 and 2018, respectively. There
were $18,357 foreign currency transaction gains and $378,877 foreign currency transaction losses for the six months ended June
30, 2019 and 2018, respectively.
Spot
exchange rates and average exchange rates published by fxtop.com were used in the translation of the consolidated financial statements.
| |
For
the three months ended
June 30, | | |
For
the six months ended June 30, | |
US Exchange Rate | |
2019 | | |
2018 | | |
2019 | | |
2018 | |
| |
(Unaudited) | | |
(Unaudited) | | |
(Unaudited) | | |
(Unaudited) | |
Period-end RMB | |
| 6.8704 | | |
| 6.6195 | | |
| 6.8704 | | |
| 6.6195 | |
Average RMB | |
| 6.8276 | | |
| 6.3816 | | |
| 6.7871 | | |
| 6.3701 | |
| |
| | | |
| | | |
| | | |
| | |
Period-end HK$ | |
| 7.8090 | | |
| 7.8459 | | |
| 7.8090 | | |
| 7.8459 | |
Average
HK$ | |
| 7.8400 | | |
| 7.8482 | | |
| 7.8432 | | |
| 7.8378 | |
All
foreign exchange transactions must take place through authorized institutions of China. Management makes no representation that
the RMB amounts could have been, or could be, converted into U.S. dollars at the rates used in translation.
Revenue
Recognition
Rental
Income
Our
Victory Plaza currently has 3,173 rental units. Among these rental properties, the Company owned 434 units, 812 units were sold
but with buy-back options, and 1,927 units were sold with no options. The Company will lease back part of these sold properties
at the owner’s will and rent out to tenants. As of June 30, 2019, and December 31, 2018, the Company had 7 and 8 lease-back
units, respectively. Rental income is reported in the gross amount including rent income from our owned properties and lease-back
properties. Existing lease-back expenses were recorded as amortization and interest expenses. Expired lease-back expenses were
included in the lease expenses.
The
Company recognizes the rental income on a straight-line basis over the terms of the leases. The cumulative differences between
rental income recognized in the Company’s condensed unaudited consolidated statements of operations and contractual payment
terms have been recorded as deferred rental income and presented on the accompanying condensed consolidated balance sheets.
Property
Management Fee Income
We
currently provide common area management services to all tenants and shop owners. Common area management services include security,
cleaning, fire service, landscaping, public facilities maintenance and other traditional services provided by a property management
office. The terms of the property management agreements are usually consistent with the tenants’ lease term. Property management
fees are charged based on the area of property ranging from $17 to $20 per square foot per annum.
Since
the performance obligations in the property management agreement are identical with the terms of property management agreement,
the Company recognizes the propriety management income on a straight-line basis over the terms of the management agreement. The
cumulative differences between property management income recognized in the Company’s condensed unaudited consolidated statements
of operations and contractual payment terms have been recorded as deferred income and presented on the accompanying condensed
consolidated balance sheets.
Expense
Recovery
The
Company will pay utility, repair and insurance expenses to third party vendors in order to fulfill its management obligations.
The Company will charge all or part of these expenses to tenants in addition to property management fees. The charge methods will
depend on the size of tenant and terms of property management agreement. The Company is acting as an agent to arrange for the
provision of utilities, repairs and other services by third parties. The Company will recognize the fees collected as income after
the Company’s service is provided. The recovered expenses will offset the income the Company is paid and be reported net
under the caption of other income in the accompanying condensed unaudited consolidated financial statements.
Rental
Properties
Rental
properties are carried at cost less accumulated depreciation and amortization. Betterments, major renovations and certain costs
directly related to the improvements of rental properties are capitalized. Maintenance and repairs are expensed as incurred. Depreciation
is recognized on a straight-line basis over estimated useful lives of the assets. Improvements are capitalized and amortized over
the shorter of their estimated useful lives or the terms of the respective leases, if any. When rental properties are sold or
otherwise disposed of, the cost and related accumulated depreciation are eliminated from the accounts and any resulting gain or
loss is recognized in the results of operations.
The
following table summarized the ownership of rental properties.
| |
| |
%
of Total | | |
Financial
Statement Presentation |
Group | |
Description
of Property | |
SQ
Ft | | |
Assets | |
Liabilities |
A | |
Owned with title by DVPD | |
| 16 | % | |
Rental properties | |
N/A |
B | |
Sold
properties required to be repurchased - option exercised | |
| 9 | % | |
Rental properties | |
Property financing agreements payable |
C* | |
Properties with buy- back options transferred
to SML in 2017 and 2018 | |
| 6 | % | |
Rental properties | |
Loan payable SML |
D | |
Sold properties | |
| 69 | % | |
N/A | |
N/A |
| |
Total properties | |
| 100 | % | |
| |
|
*
In the filing of Form S-1/A dated February 12, 2019, the Company had a C-2 property group category, “Third party has title
acquired from previous owner”. The purchase and sale transactions between previous owner and new owner - “third party”
will not remove the burden of the Company to buy back the property per the buy-back options. The nature of C-2 group is the same
as group B. Therefore, we removed group C-2 (approximately 1%) and combined it with group B above.
Group
A represents property that the Company owns. Group B represents property we sold to individual owners with the requirement
to be repurchased and options were exercised. Group C represents property owned by SML, but the Company is still liable for
the buy-back options. Pursuant to the SML Agreement, the Company is obligated to buy back these properties plus accrued interest
no later than May 15, 2020. Group D presents property we sold to various individual owners without additional rights attached.
Sold
Rental Properties with Financing Agreements (Group B and C Properties)
Pursuant
to the sales contracts, the buyers obtained legal title to the property and also had an option to sign a separate buy-back agreement.
The purchase agreement granted the buyer an option to request the Company to buy back sold properties at a stated buy-back price
once the option is vested and the Company has received the payments for the sold property. As of June 30, 2019, approximately
16% of total rental spaces of Victory Plaza were sold to various unrelated individuals and entities with buy-back options. The
majority of these properties were sold during the period from 1998 to 2014. The vesting dates of the buy-back options ranged from
2014 to 2018. As of June 30, 2019, there are 3 remaining buy back options that can be exercised.
Pursuant
to ASC 360-20-40-38, if a property seller has an obligation to repurchase the property, or the terms of the transaction allow
the buyer to compel the seller or give an option to request the seller to repurchase the property, the transaction shall be accounted
for as financing, lease, or profit-sharing arrangement rather than as a sale. It is aligned with ASC 842-40-25-3, an option for
the seller-lessee to repurchase the asset would preclude accounting for the transfer of the asset as a sale of the asset. The
Company’s accounting policy is to treat this type of sale as a financing agreement. The Company continues to report its
ownership of the property sold as an asset (within rental properties) and continues to depreciate the property based on the estimated
useful lives. The Company recorded sales proceeds as “property financing agreements payable” in the consolidated financial
statements and accrues the interest payable during the periods of the vesting. The interest rate is determined by the price spread
of each unit’s sale price and buy-back price, and the time span from the date of sale to the maturity date (last date to
execute the option). The Company will derecognize the liability when the Company purchases back the properties, or the owners
of these properties have settled with the Company or gave up the buy-back options, or upon the expiration of the option if not
exercised. If the settlement is greater than the book amount (including principal and interest), a loss will be recognized. If
the amount of settlement is less than book amount (including principal and interest), a gain will be recognized. See Note 10,
Property Financing Agreement Payable for further information.
Sold
Properties (Group D Properties)
As
of June 30, 2019, approximately 69% of total space of Victory Plaza was sold and is owned by various unrelated individuals
and entities with legal title to the respective properties. Pursuant to the sale contracts, at the date of the sales, buyers obtained
integrated legal ownership to the sold properties and assumed the significant risks and rewards of ownership of the property (had
the ability to rent and sell the property at-will) while the Company received the payments of the purchase price. These sales
are considered final sales.
As
part of our operations, the Company may lease back properties from the owners of group D properties and subleases these properties
to un-related third parties with new lease terms. Sales and lease-back are two separate business transactions. Lease-back is at
the owner’s will and is not a condition of sale. Lease-back could happen immediately after the sale of property or at any
time after the sale if the owner of the property is interested in rental services provided by the Company.
Under
ASC Topic 842, a sale and lease-back arrangement will be accounted for as a sale if all of the following conditions are met: (i)
control of the underlying asset is transferred to the buyer-lessor in accordance with the revenue recognition guidelines in ASC
Topic 606, Revenue from Contracts with Customers, (ii) the classification of the sublease is not a finance lease from the perspective
of the lessee, or a sales-type lease from the perspective of the lessor, and (iii) there is no repurchase option.
There
were 4 outstanding leases that the Company leased back from the owners of group D properties as of June 30, 2019 and December
31, 2018. All these lease-back arrangements met the above criteria and have been accounted for as a sale. The allocated net book
value and land use rights were derecognized, and a gain or loss was recognized when each of the sales was completed.
Lessee
Accounting
We
have elected to early adopt ASC Topic 842, the recent accounting update related to leases. ASC 842 requires us to determine whether
a contract is a lease or contains a lease at the inception of the contract, considering all relevant facts and circumstances.
A contract is a lease or contains a lease if the contract conveys the right to control the use of identified property, plant,
or equipment for a period of time in exchange for consideration.
A
lessee should recognize in the balance sheet a liability to make lease payments (the lease liability) and a right-of-use asset
representing its right to use the underlying asset for the lease term. When measuring assets and liabilities arising from a lease,
a lessee should include payments to be made in optional periods only if the lessee is reasonably certain to exercise its option
to extend the lease or not exercise an option to terminate the lease. Similarly, optional payments to purchase the underlying
asset should be included in the measurement of lease assets and lease liabilities only if the lessee is reasonably certain to
exercise that purchase option.
A
lease is classified as a finance lease when the lease meets any of the following criteria: (i) the lease transfers ownership of
the underlying asset to the lessee by the end of the lease term, (ii) the lease grants the lessee an option to purchase the underlying
asset that the lessee is reasonably certain to exercise, (iii) the lease term is for the major part of the remaining economic
life of the underlying asset, (iv) the present value of the sum of the lease payments and any residual value guaranteed by the
lessee that is not already reflected in the lease payments equals or exceeds substantially all (90% or more) of the fair value
of the underlying asset, or (v) the underlying asset is of such a specialized nature that it is expected to have no alternative
use to the lessor at the end of the lease term. A lease not classified as a finance lease is classified as an operating lease.
The
lease liability is initially measured at the present value of lease payments to be paid as of lease commencement. Lease payments
should be discounted at the rate implicit in the lease or lessee’s incremental borrowing rate. The right-of-use asset is
initially measured as: (i) the lease liability determined, (ii) lease payments made to the lessor at or before lease commencement,
minus lease incentives received from the lessor, and (iii) initial direct costs incurred by the lessee.
A
lessee will measure the lease liability by (a) accreting interest expense on the carrying value of the lease liability using the
effective interest rate method, and (b) reducing the carrying value of the lease liability for lease payments made. A lessee will
measure the right-of-use asset by amortizing that asset over the lease term. Amortization is recorded on a straight-line basis.
The right-of-use asset will also be tested for impairment based on the asset impairment rules that apply to property, plant and
equipment in ASC Topic 360.
For
leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying assets
not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such
leases generally on a straight-line basis over the lease term.
Lessor
Accounting
The
Company currently owns 434 rental units and leased these rental properties to various tenants. Pursuant to ASC 842 – 30,
the Company will classify a lease as a sales – type lease if: (i) the lease transfers ownership of the underlying asset
to the lessee by the end of the lease term, (ii) the lease grants the lessee an option to purchase the underlying asset that the
lessee is reasonably certain to exercise, (iii) the lease term is for the major part of the remaining economic life of the underlying
asset, (iv) the present value of the sum of the lease payments and any residual value guaranteed by the lessee that is not already
reflected in the lease payments equals or exceeds substantially all (90% or more) of the fair value of the underlying asset, or
(v) the underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end
of the lease term. As of June 30, 2019, none of our leases, as a lessor, met the above criteria to be classified as a sale –
type lease.
Pursuant
to ASC 842 – 30, when none of the sales-type lease classification criteria are met, a lessor would classify the lease as
a direct financing lease when both of the following criteria are met: (i) the present value of the sum of the lease payments and
any residual value guaranteed by the lessee that is not already reflected in the lease payments and/or any other third party unrelated
to the lessor equals or exceeds substantially all (90% or more) of the fair value of the underlying asset and (ii) it is probable
that the lessor will collect the lease payments plus any amount necessary to satisfy a residual value guarantee. As of June 30,
2019, none of our leases, as a lessor, met the above criteria to be classified as a financing lease.
Pursuant
to ASC 842 – 30, a lessor would classify a lease as an operating lease when none of the sales-type or direct financing lease
classification criteria are met. As of June 30, 2019, all leases of the Company’s rental properties were classified as operating
leases. The Company will maintain the underlying asset and recognizes lease income over the lease term.
Disposition
of Real Estate and Real Estate Investments
Sales
of real estate include operating properties and investments in real estate joint ventures. Gains from dispositions are recognized
using the full accrual or partial sale methods, provided that the Company has met various criteria relating to the terms of sale
and any subsequent involvement. If the criteria for sales recognition or gain recognition are not met because of a form of continuing
involvement, the accounting for such transactions is dependent on the nature of the continuing involvement. In certain cases,
a sale might not be recognized, and in others all or a portion of the gain might be deferred.
Real
Estate Held for Sale
The
Company generally considers assets to be held for sale when management believes that a sale is probable within a year. This generally
occurs when a sales contract is executed with no substantive contingencies and the prospective buyer has significant funds at
risk. Assets that are classified as held for sale are recorded at the lower of their carrying amount or fair value, less cost
to sell. The Company evaluated its property portfolio and did not identify any properties that would meet the criteria for held
for sale as of June 30, 2019 and December 31, 2018.
Cash
and Cash Equivalents
Cash
and cash equivalents include cash on hand and demand deposits in accounts maintained with commercial banks within the PRC, Hong
Kong and United States. The Company considers all short-term highly liquid investments with original maturities of three months
or less when purchased to be cash and cash equivalents.
Restricted
Cash
Restricted
cash represents the required cash deposits by the bank to be used for interest and loan repayments only.
Tenant
and Sundry Receivables, net of Allowance for Doubtful Accounts
Tenant
receivables are recorded at original invoice amount, less an estimated allowance for doubtful accounts. The allowance for doubtful
accounts represents management’s estimate of the amount of probable credit losses, determined by reviewing past due balances
and other information. The Company makes judgments as to the collectability of tenant receivables based on historical trends and
future expectations. Management estimates an allowance for doubtful accounts and adjusts gross tenant receivables based on their
expectation of specific tenant risks and the Company’s tenant receivable aging and collection analysis. Management considers
accounts past due on a tenant-by-tenant basis. Based on its review, management has established an allowance for doubtful
accounts as of June 30, 2019 and December 31, 2018 of $806,098 and $123,467, respectively.
Property
and Equipment
Property
and equipment are carried at cost, less accumulated depreciation. Cost includes any incremental costs that are directly attributable
to the construction or acquisition of the item of property and equipment. Maintenance and repairs are expensed as incurred, while
major maintenance and remodeling costs are capitalized if they extend the useful life of the asset. Depreciation is computed using
the straight-line method over the estimated useful lives.
When
properties and equipment are sold or otherwise disposed of, the costs and related accumulated depreciation are eliminated from
the accounts and any resulting gain or loss is recognized in the results of operations.
Impairment
of Long-Lived Assets
Long-lived
assets, primarily rental properties and machinery and equipment are reviewed for impairment whenever events or changes in circumstances
indicate that the carrying amount of the assets might not be recoverable. Conditions that would necessitate an impairment assessment
include a significant decline in the observable market value of an asset, a significant change in the manner in which an asset
is used, or a significant adverse change that would indicate that the carrying amount of an asset or group of assets is not recoverable.
For long-lived assets to be held and used, the Company recognizes an impairment loss only if its carrying amount is not recoverable
through its estimated undiscounted future cash flows over the anticipated holding period and measures the impairment loss based
on the amount by which the carrying amount of the asset exceeds its estimated fair value. Fair value is determined through various
valuation techniques, including discounted cash flow models, quoted market values or third-party independent appraisals, as considered
necessary. There were no impairment losses recognized during the three months ended and six months ended June 30, 2019 and 2018.
Debt
Issuance Costs
Costs
related to bank loans payable consist of fees and direct costs incurred in obtaining such financings. These costs are presented
as a reduction of bank loans payable and are amortized on a straight-line basis over the terms of the related loan payable which
approximates the effective interest rate method. Such amortization is included in “Interest – loans” in the
accompanying condensed consolidated statements of operations, which amounted to $13,930 and $14,902 for the three months ended
June 30, 2019 and 2018, respectively; $27,870 and $24,177 for the six months ended June 30, 2019 and 2018, respectively
Per
Share Amounts
The
Company computes per share amounts in accordance with ASC Topic 260 “Earnings per Share” (EPS) which requires
presentation of basic and diluted EPS. Basic EPS is computed by dividing the net income (loss) available to common stockholders
by the weighted-average number of common shares outstanding for the period. Diluted earnings per share reflects the potential
dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock
or resulted in the issuance of common stock that then shared in the earnings of the Company, if any. This is computed by dividing
net earnings by the combination of basic and dilutive common share equivalents. Since the Company is in a net loss position, all
common stock equivalents would be anti-dilutive and are, therefore, not included in the determination of diluted loss per share.
Accordingly, basic and diluted net loss per share are the same. There were no common stock equivalents as of June 30, 2019 and
2018.
| |
For
the Three Months Ended
June 30, | | |
For
the Six Months Ended
June 30, | |
| |
2019 | | |
2018 | | |
2019 | | |
2018 | |
| |
(Unaudited) | | |
(Unaudited) | | |
(Unaudited) | | |
(Unaudited) | |
Numerator for earnings per share: | |
| | |
| | |
| | |
| |
Net
(loss) attributable to the Company’s common shareholder | |
$ | (5,072,185 | ) | |
$ | (1,498,156 | ) | |
$ | (6,493,114 | ) | |
$ | (2,113,670 | ) |
Denominator for basic and diluted earnings
per share: | |
| | | |
| | | |
| | | |
| | |
Basic weighted average common shares* | |
| 21,711,000 | | |
| 20,700,000 | | |
| 21,230,635 | | |
| 20,700,000 | |
Diluted weighted
average common shares | |
| 21,711,000 | | |
| 20,700,000 | | |
| 21,230,635 | | |
| 20,700,000 | |
Per share amount | |
| | | |
| | | |
| | | |
| | |
Per share -
basic and diluted | |
$ | (0.23 | ) | |
$ | (0.07 | ) | |
$ | (0.31 | ) | |
$ | (0.10 | ) |
Non-Controlling
Interest
Non-controlling
interest is classified as a separate line item in the deficit section and disclosures in the Company’s consolidated financial
statements. This amount represents the 20% non-controlling interest in DVPD owned by DVDC.
Comprehensive
Income (Loss)
The
Company follows ASC 220-10, “Reporting Comprehensive Income” ASC 220-10 requires the reporting of comprehensive
income (loss) in addition to net income (loss). Comprehensive income (loss) is a more inclusive financial reporting methodology
that includes disclosure of information that historically has not been recognized in the calculation of net income (loss). Comprehensive
income (loss) generally represents all changes in shareholders’ equity during the period except those resulting from investments
by, or distributions to shareholders. Comprehensive income (loss) reflects the gain (loss) due to foreign currency translation
adjustments.
Fair
Value of Financial Instruments
The
following disclosure of the estimated fair value of financial instruments is made in accordance with the provision of ASC 825-10-65,
“Financial Instruments – Transition and Open Effective Date Information”. Although the estimated fair
value amounts have been determined by the Company using available market information and appropriate valuation methodologies,
the estimates presented are not necessarily indicative of the amounts that the Company could realize in current market exchanges.
The carrying amounts reported in the consolidated balance sheets for cash, accounts receivables and accounts payable approximate
fair value because of the short-term nature of these financial instruments.
Income
Taxes
The
Company is governed by the Income Tax Law of the PRC, the Special Region of Hong Kong and the U.S. Internal Revenue Code of 1986,
as amended. The Company accounts for income taxes using the asset/liability method prescribed by ASC 740, “Accounting for
Income Taxes.” Under this method, deferred tax assets and liabilities are determined based on the difference between the
financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which
the differences are expected to reverse. Deferred tax assets are also provided for net operating loss carryforwards that can be
used to offset taxable income in the future. The Company records a valuation allowance to offset deferred tax assets if, based
on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not
be realized. The effect on deferred taxes of a change in tax rates is recognized in income or loss in the period that includes
the enactment date.
The
Company follows the provisions of ASC 740-10-50, “Accounting for Uncertainty in Income Taxes,” which provides clarification
related to the process associated with accounting for uncertain tax positions recognized in the Company’s financial statements.
Audit periods remain open for review until the statute of limitations has passed. The completion of review or the expiration of
the statute of limitations for a given audit period could result in an adjustment to the Company’s liability for income
taxes. Any such adjustment could be material to the Company’s results of operations for any given quarter or annual period
based, in part, upon the results of operations for the given period. As of June 30, 2019 and December 31, 2018, the Company had
no uncertain tax positions, and will continue to evaluate for uncertain positions in the future.
Fair
Value Measurements
The
Company complies with the provisions of ASC 820 “Fair Value Measurements and Disclosure “(ASC 820) in measuring
fair value and in disclosing fair value measurements. ASC 820 defines fair value, establishes a framework for measuring fair value
and expands disclosures about fair value measurements required under other accounting pronouncements. ASC 820-10-35, Fair Value
Measurements and Disclosures – Subsequent Measurement (ASC 820-10-35), clarifies that fair value is an exit price, representing
the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.
Fair value measurement reflects the assumptions market participants would use in pricing an asset or liability based on the best
information available. Assumptions include the risks inherent in a particular valuation technique and/or the risks inherent in
the inputs to the model.
ASC
820-10-35 discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present
value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost).
The statement utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into
three broad levels. The following is a brief description of those three levels:
Level
1 Inputs – Level 1 inputs are unadjusted quoted prices in active markets for assets or liabilities identical to those to
be reported at fair value. An active market is a market in which transactions occur for the item to be fair valued with sufficient
frequency and volume to provide pricing information on an ongoing basis.
Level
2 Inputs – Level 2 inputs are inputs other than quoted prices included within level 1. Level 2 inputs are observable either
directly or indirectly. These inputs include: (a) quoted prices for similar assets or liabilities in active markets; (b) quoted
prices for identical or similar assets or liabilities in markets that are not active, such as when there are few transactions
for the asset or liability, the prices are not current, price quotations vary substantially over time or in which little information
is released publicly; (c) Inputs other than quoted prices that are observable for the asset or liability and (d) Inputs that are
derived principally from or corroborated by observable market data by correlation or other means.
Level
3 Inputs – Level 3 inputs are unobservable inputs for an asset or liability. These inputs should be used to determine fair
value only when observable inputs are not available. Unobservable inputs should be developed based on the best information available
in the circumstances, which might include internally generated data and assumptions being used to price the asset or liability.
When
determining the fair value measurements for assets or liabilities required or permitted to be recorded at and/or marked to fair
value, the Company considers the principal or most advantageous market in which it would transact and considers assumptions that
market participants would use when pricing the asset or liability. When possible, the Company looks to active and observable markets
to price identical assets. When identical assets are not traded in active markets, the Company looks to market observable data
for similar assets. Nevertheless, certain assets are not actively traded in observable markets and the Company must use alternative
valuation techniques to derive a fair value measurement.
Related
Parties
Parties
are considered to be related to the Company if they, directly or indirectly, through one or more intermediaries, control, are
controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its
management, members of the immediate families of principal owners of the Company and its management and other parties with which
the Company may deal with if one party controls or can significantly influence the management or operating policies of the other
to an extent that one of the transacting parties might be prevented from fully pursuing its separate interests. The Company discloses
all related party transactions.
Deferred
Rental Income
Rental
and management fee income from leases are recognized on a straight-line basis over the term of the relevant leases. The cumulative
difference between the rental income/management fees recognized in the Company’s consolidated statements of operations and
actual annual contractual lease payments are recorded as deferred rental income and presented on the consolidated balance sheets.
Additionally, prepaid lease payments from the tenant is recorded within the deferred income.
Advertising
Advertising
is expensed as incurred and is included in other general and administrative expenses. There were no advertising expenses for the
six months ended June 30, 2019 and 2018.
Recently
Adopted Accounting Pronouncements
We
consider the applicability and impact of all Accounting Standards Updates (“ASUs”). The ASUs not listed below were
assessed and determined to be either not applicable or are expected to have minimal impact, if any, on our consolidated financial
position and/or results of operations.
In
June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of
Credit Losses on Financial Instruments (“ASU 2016-13”), which modifies the measurement of expected credit
losses on certain financial instruments. The Company will adopt ASU 2016-13 in its first quarter of 2021 utilizing the
modified retrospective transition method. The Company is still in the process of determining the impact on its consolidated
financial statements.
In
February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02 “Leases (Topic 842).”
This standard requires entities to recognize assets and liabilities on their balance sheet for the rights (right-of-use or “ROU”)
and obligations created by the leased assets. The standard is effective for fiscal years and the interim periods within those
fiscal years beginning after December 15, 2018. The guidance is required to be applied by the modified retrospective transition
approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition
relief. Early adoption is permitted. We have adopted the guidance of this standard effective December 31, 2016 and retrospectively
from the beginning of the lease term and recognized ROU assets and obligations created by these leases. As a result, $232,631
and $422,905 of ROU assets, net and leases liabilities of $396,681 and $612,125 were recorded in the accompanying consolidated
financial statements as of June 30, 2019 and December 31, 2018, respectively.
In
May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” which outlines a single
comprehensive model to use in accounting for revenue arising from contracts with customers and supersedes and replaces nearly
all existing GAAP revenue recognition guidance, including industry-specific guidance. The authoritative guidance provides a five-step
analysis of transactions to determine when and how revenue is recognized. The five steps are: (i) identify the contract with the
customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the
transaction price to the performance obligations; and (v) recognize revenue when or as each performance obligation is satisfied.
The authoritative guidance applies to all contracts with customers except those that are within the scope of other topics in the
FASB ASC. The authoritative guidance requires significantly expanded disclosures about revenue recognition and was initially effective
for fiscal years and the interim periods within these fiscal years beginning on or after December 15, 2016. In August 2015, the
FASB issued ASU 2015-14 “Revenue from Contracts with Customers (Topic 606): which deferred for one year the effective date
until fiscal years and interim periods within those fiscal years beginning after December 15, 2017. Earlier application is permitted
only as of annual reporting periods beginning after December 15, 2016 including interim reporting periods within that reporting
period. The adoption of this authoritative guidance did not have a material impact on our consolidated financial statements. | |
( us-gaap:SignificantAccountingPoliciesTextBlock ) |
| |
|
(End Disclosure - Summary of Significant Accounting Policies) |
|
Disclosure - Prepaid Expenses and Other Assets |
Disclosure - Prepaid Expenses and Other Assets (USD $) |
6 Months Ended |
( custom:PrepaidExpensesAndOtherAssetsAbstract [Extension] ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Prepaid Expenses and Other Assets |
NOTE
4 – PREPAID EXPENSES AND OTHER ASSETS
Prepaid
expenses and other assets consist of the following:
| |
June 30, | | |
December 31, | |
| |
2019 | | |
2018 | |
| |
| (Unaudited) | | |
| | |
Supplies on hands | |
$ | 100,792 | | |
$ | 79,478 | |
Prepaid expenses | |
| 380,468 | | |
| 498,043 | |
Deposits | |
| 145,332 | | |
| 120,235 | |
Total prepaid
expenses and other assets | |
$ | 626,592 | | |
$ | 697,756 | | | |
( custom:PrepaidExpensesAndOtherAssetsTextBlock [Extension] ) |
| |
|
(End Disclosure - Prepaid Expenses and Other Assets) |
|
Disclosure - Rental Properties, Net |
Disclosure - Rental Properties, Net (USD $) |
6 Months Ended |
( us-gaap:LeasesAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Rental Properties, Net |
NOTE
5 – RENTAL PROPERTIES, NET
Victory
Plaza is located in Dalian City, Liaoning Province of China. It was built by DVPD from 1993 to 1998.
The
Company leases its own properties and lease-backed properties to tenants and manages the Victory Plaza.
The
following table summarized ownership of rental properties.
As
of June 30, 2019
Group | |
Description
of Property | |
Cost
in US$ | | |
In
Square feet | | |
%
of Total Square feet | | |
Units | |
A | |
Owned
by DVPD | |
| 21,991,954 | | |
| 240,455 | | |
| 16 | % | |
| 433 | |
B | |
Sold
properties required to be repurchased - option exercised | |
| 11,858,431 | | |
| 130,394 | | |
| 9 | % | |
| 495 | |
C | |
Properties
with purchase back options transferred to SML - 2017 and 2018 | |
| 7,762,145 | | |
| 86,251 | | |
| 6 | % | |
| 319 | |
| |
| |
| | | |
| - | | |
| | | |
| | |
D | |
Sold
properties | |
| - | | |
| 1,023,519 | | |
| 69 | % | |
| 1,926 | |
| |
| |
| | | |
| - | | |
| | | |
| | |
| |
Rental
properties at cost | |
| 41,612,530 | | |
| 1,480,619 | | |
| 100 | % | |
| 3,173 | |
| |
Less:
Accumulated depreciation | |
| (19,532,412 | ) | |
| | | |
| | | |
| | |
| |
Rental
Properties, net | |
| 22,080,118 | | |
| | | |
| | | |
| | |
As
of December 31, 2018
Group | |
Description
of Property | |
Cost
in US$ | | |
In
Square Feet | | |
%
of Total Square feet | | |
Units | |
A | |
Owned
by DVPD | |
| 21,968,292 | | |
| 240,799 | | |
| 16 | % | |
| 434 | |
B | |
Sold
properties required to be repurchased - option exercised | |
| 11,845,672 | | |
| 130,049 | | |
| 9 | % | |
| 493 | |
C | |
Properties
with purchase back options transferred to SML - 2017 and 2018 | |
| 7,753,794 | | |
| 86,252 | | |
| 6 | % | |
| 319 | |
| |
| |
| | | |
| | | |
| | | |
| | |
D | |
Sold
properties without buy-back options | |
| - | | |
| 1,023,519 | | |
| 69 | % | |
| 1,927 | |
Rental
properties at cost | |
| 41,567,758 | | |
| 1,480,619 | | |
| 100 | % | |
| 3,173 | |
Less
depreciation | |
| (19,048,676 | ) | |
| | | |
| | | |
| | |
Property,
net reported | |
| 22,519,082 | | |
| | | |
| | | |
| | |
*
See Note 10, Property Financing Agreement Payable
As
of June 30, 2019, 1,023,519 square feet (95,088 square meters) of total rental properties (group D property), or 69% of
rental properties were sold, which was the same as of December 31, 2018. These sold properties are owned by various unrelated
individuals and entities. The majority of these properties were sold during the period from 1998 to 2012. Pursuant to the sale
contracts, at the date of the sale, buyers obtained integrated legal ownership to the sold properties and assumed the significant
risks and rewards of ownership of the property (had the ability to rent and sell the property at-will) while the Company received
the payments of the purchase prices. These sales were considered final sales. The allocated carrying cost and land use rights
costs were derecognized and gains or losses were recognized when the sales were completed.
As
of June 30, 2019, DVPD owned 240,799 square feet (22,371 square meters) of total rental properties (group A property) (approximately
16%) with legal title, which was the same as of December 31, 2018. Rental properties are carried at cost, which includes allocated
construction costs and allocated original purchased land use right costs. These properties were recorded under the caption of
“rental properties”.
Among
the properties owned by the Company, 200,747 square feet (18,650 square meters) of properties were used as collateral for a 390M
RMB Loan ($56.2 million) and 22,098 square feet (2,053 square meters) were used as collateral for 50M RMB Loan ($7.2 million)
and 23M RMB Loan ($3.5 million). (see Note 9, Bank Loans Payable)
Group
B and Group C properties were properties sold to various unrelated individuals and entities with a buy-back option. The majority
of these properties were sold during the period from 1998 to 2012. The vesting dates of the buy-back options ranged from 2014
to 2018. The Company has no legal title to these properties until the Company purchases back these properties upon the exercise
of the buy-back option. The Company’s accounting policy is to treat these types of sales as a financing agreement. The cost
of property sold has been measured under the caption of “rental property” in the consolidated financial statements
and continue to be depreciated. The Company recorded the sales proceeds as “property financing agreements payable”
in the consolidated financial statements and accrues the interest expense during the period specified in the buy-back agreement.
The interest rate is determined by the price spread of each unit’s sale price and buy-back price, and the time span from
the date of sale to the maturity date (last date to execute the option). At the date of repurchase, the amount of sales proceeds
received plus interest accrued will be equal to the agreed buy-back price. The Company will derecognize the liability at the earlier
of (1) when the Company repurchases the property, (2) when the owner of the property and the Company reaches a settlement and
the owner gives up the buy-back option, or (3) the expiration of the buy-back option. (See Note 10), Property Financing Agreements
Payable for further information.
In
the filing of Form S-1/A dated February 12, 2019, the Company had a C-2 property group category, “Third party has title
acquired from previous owner”. The purchase and sale transactions between the previous owner and new owner - “third
party” will not remove the burden of the Company to buy back the property per the buy-back option. The nature of the C-2
group was the same as group B. Therefore, we removed group C-2 and combined it (approximately 1%) with group B.
As
of June 30, 2019, group B properties had 130,049 square feet (12,082 square meters), or 9% of total properties, which was the
same as of December 31, 2018.
Group
C represents the properties with buy-back option transferred to SML during 2017 and 2018. Pursuant to the SML financing agreement
(see Note 10, Property Financing Agreements Payable), SML will negotiate with each individual property owner who exercised their
option to request the Company to buy back the property on a case by case basis and pay an agreed upon price to the property owner.
SML will acquire the title to the property and settle with the previous owner and extend the buy-back option to May 15, 2020.
The Company will honor the extended buy-back agreements and agreed to pay the same purchase price stated in the original buy-back
agreements. SML will also negotiate with lease back owners and settle the balance due that the Company owed to lease owners. The
Company will pay interest at 8% per annum of the balance (buy-back price and lease payment settlements) owed to SML. As of June
30, 2019, 86,251 square feet (8,013 square meters) of properties were owned by SML, which was the same as of December 31, 2018.
There
is no private ownership of land in the PRC. All land in the PRC is owned by the government and cannot be sold to any individual
or company. The government grants a land use right that permits the holder of the land a right to use the land for a specified
period. Our land use rights were granted with a term of 50 years. Any transfer of the land use right requires government approval.
The acquisition cost of the land use right was allocated to each rental property and is amortized with the rental property. The
land use rights expire in May 2043. Properties’ estimated life was determined by the valid life of land use rights. Rental
properties are depreciated over 45 years.
Expected
future minimum rents to be received over the next five years and thereafter from leases in effect as of June 30, 2019 are as follows:
For the Twelve Months Ending June
30, | |
Amount
in US$ | |
2020 | |
$ | 664,896 | |
2021 | |
| 651,177 | |
2022 | |
| 311,510 | |
2023 | |
| 13,485 | |
Total | |
$ | 1,641,068 | | | |
( us-gaap:LesseeOperatingLeasesTextBlock ) |
| |
|
(End Disclosure - Rental Properties, Net) |
|
Disclosure - Property and Equipment |
Disclosure - Property and Equipment (USD $) |
6 Months Ended |
( us-gaap:PropertyPlantAndEquipmentAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Property and Equipment |
NOTE
6 –PROPERTY AND EQUIPMENT
Property
and equipment are composed of the following:
| |
Estimated
Useful Life | |
June
30, 2019 | | |
December
31, 2018 | |
| |
| |
(Unaudited) | | |
| |
Property and equipment | |
45 years | |
$ | 221,379 | | |
$ | 221,140 | |
Office equipment | |
3-5 years | |
| 330,329 | | |
| 324,623 | |
Business machinery and equipment | |
5-10 years | |
| 2,974,707 | | |
| 2,969,180 | |
Auto | |
5 years | |
| 24,900 | | |
| 24,873 | |
Improvement | |
5-10
years | |
| 10,129,839 | | |
| 10,118,913 | |
Total
properties, machinery and equipment | |
| |
| 13,681,154 | | |
| 13,658,729 | |
Less:
accumulated depreciation and amortization | |
| |
| (13,141,091 | ) | |
| (13,024,140 | ) |
Property and
equipment, net | |
| |
$ | 540,063 | | |
$ | 634,589 | |
Depreciation
expense was $56,758 and $57,866 for the three months ended June 30, 2019 and 2018, respectively; $113,427 and $113,375 for the
six months ended June 30, 2019 and 2018, respectively. | |
( us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock ) |
| |
|
(End Disclosure - Property and Equipment) |
|
Disclosure - Intangible Assets |
Disclosure - Intangible Assets (USD $) |
6 Months Ended |
( GoodwillAndIntangibleAssetsDisclosureAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Intangible Assets |
NOTE
7 - INTANGIBLE ASSETS
Intangible
assets consist of the software used in management. The cost and related amortization are as follows:
| |
| |
June 30, | | |
December 31, | |
| |
Estimated
Useful Life | |
2019 | | |
2018 | |
| |
| |
(Unaudited) | | |
| |
Management software | |
5 years | |
$ | 26,162 | | |
$ | 26,134 | |
Less: accumulated amortization | |
| |
| (5,671 | ) | |
| (3,051 | ) |
Intangible assets, net | |
| |
$ | 20,491 | | |
$ | 23,083 | |
Amortization
expense was $1,316 and $468 for the three months ended June 30, 2019 and 2018, respectively. Amortization expense was $2,648 and
$470 for the six months ended June 30, 2019 and 2018, respectively. | |
( us-gaap:IntangibleAssetsDisclosureTextBlock ) |
| |
|
(End Disclosure - Intangible Assets) |
|
Disclosure - Right of Use Assets |
Disclosure - Right of Use Assets (USD $) |
6 Months Ended |
( custom:RightOfUseAssetsAbstract [Extension] ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Right of Use Assets |
NOTE
8 – RIGHT OF USE ASSETS
As
part of its operations, the Company leases back sold properties in Victory Plaza and subleases the properties to un-related third
parties with separate lease terms. Leases related to the property in group B (see Note 5, Rental Properties, Net) which were sold
with buy-back options are classified as financing leases. Leases related to the property in group D (see Note 5) are classified
as sales type leases if the lease meets any of the following criteria: (i) the lease transfers ownership of the underlying asset
to the lessee by the end of the lease term, (ii) the lease grants the lessee an option to purchase the underlying asset that the
lessee is reasonably certain to exercise, (iii) The lease term is for the major part of the remaining economic life of the underlying
asset, (iv) the present value of the sum of the lease payments and any residual value guaranteed by the lessee that is not already
reflected in the lease payments equals or exceeds substantially all (90% or more) of the fair value of the underlying asset, or
(v) the underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end
of the lease term. A lease will be classified as an operating lease if it is not classified as a finance or sales type lease.
On
March 27, 2018, Sino Pride leased office space which is to expire on March 26, 2020. The lease is classified as an operating lease.
At the lease commencement date, the Company recognized a right-of-use asset and a lease liability, which is the present value
of the total lease payments discounted at 5.25% - a premium bank lending rate per annum at the date. The right-of-use asset is
amortized over the term of lease.
Right
of use (“ROU”) assets consist of the followings as of June 30, 2019 and December 31, 2018:
Right
of Use Assets as of June 30, 2019 in US $
Lease Type | |
Property Group | | |
Lease Units | | |
ROU Assets | | |
Accumulated Depreciation | | |
ROU, Net | |
Financing lease | |
| B | | |
| 3 | | |
$ | 219,275 | | |
$ | (211,064 | ) | |
$ | 8,211 | |
Financing lease | |
| D | | |
| 4 | | |
| 247,997 | | |
| (247,997 | ) | |
| - | |
Operating lease - Rental | |
| | | |
| 1 | | |
| 599,642 | | |
| (375,222 | ) | |
| 224,420 | |
Total | |
| | | |
| 8 | | |
$ | 1,066,914 | | |
$ | (834,283 | ) | |
$ | 232,631 | |
Right
of Use Assets as of December 31, 2018 in US $
Lease
Type | |
Property
Group | | |
Lease
Units | | |
ROU
Assets | | |
Accumulated
Depreciation | | |
ROU,
Net | |
Financing lease | |
| B
| | |
| 4 | | |
$ | 315,067 | | |
$ | (284,848 | ) | |
$ | 30,219 | |
Financing lease | |
| D
| | |
| 4 | | |
| 247,730 | | |
| (237,948 | ) | |
| 9,782 | |
Operating lease
- Rental | |
| - | | |
| 1 | | |
| 597,889 | | |
| (214,985 | ) | |
| 382,904 | |
Total | |
| | | |
| 9 | | |
$ | 1,160,686 | | |
$ | (737,781 | ) | |
$ | 422,905 | |
There
were 1 and 15 lease-back leases that expired during the six months ended June 30, 2019 and the year ended December 31, 2018, respectively.
The Company did not renew those leases.
Amortization
of financing leases was $27,685 and $29,970 for the three months ended June 30, 2019 and 2018, respectively; $42,366 and $73,089
for the six months ended June 30, 2019 and 2018, respectively.
Operating
lease expense was $78,455 and $0 for the three months ended June 30, 2019 and 2018, respectively; $156,972 and $0 for the six
months ended June 30, 2019 and 2018, respectively.
The
short-term rent lease expense was also included in operating lease expense. In addition to the above operating lease expense,
short-term rental expense was $44,214 and $65,941 for the three months ended June 30, 2019 and 2018, respectively; $141,169 and
$147,981 for the six months ended June 30, 2019 and 2018, respectively. | |
( custom:RightOfUseAssetsTextBlock [Extension] ) |
| |
|
(End Disclosure - Right of Use Assets) |
|
Disclosure - Short-Term Loan and Interest Receivable |
Disclosure - Short-Term Loan and Interest Receivable (USD $) |
6 Months Ended |
( us-gaap:DebtDisclosureAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Short-Term Loan and Interest Receivable |
NOTE
9 - SHORT-TERM LOAN AND INTEREST RECEIVABLE
On
June 28, 2018, DVBM entered into a loan agreement to lend RMB 50,000,000 or $7,265,647 (the “Principal”) to Zhong
Ke Chuang Zhan Investment, Ltd, an independent third party (“ZKCZ”). The maturity date of the unsecured loan is June
30, 2019 (the “Maturity Date”). Interest shall accrue on the unpaid Principal amount of the loan from July 1, 2018
to September 30, 2018 at 2% per month and from October 1, 2018 to June 30, 2019 at 0.7% per month. Interest is calculated based
on the daily principal balance of the loan and is payable at maturity with the principal. During the six months ended June 30,
2019, DVBM made an additional loan of approximately $2,570,000. As of June 30, 2019, the short-term loan principal was $9,712,109
and total accrued interest was $851,527.
On
June 30, 2019, the Company signed a new loan agreement with ZKCZ to amend the loan amount from RMB 50,000,000 to RMB
75,000,000 and extend its maturity date to June 30, 2020.
The
total of the Short-term loan and related interest receivable in the accompanying condensed unaudited consolidated balance sheets
approximate its fair value because of the short-term maturity. Impairment is recognized on a loan when it is probable that the
lender will be unable to collect all contractual payments as scheduled. As of June 30, 2019, no impairment has been recorded. | |
( us-gaap:ShortTermDebtTextBlock ) |
| |
|
(End Disclosure - Short-Term Loan and Interest Receivable) |
|
Disclosure - Bank Loans Payable |
Disclosure - Bank Loans Payable (USD $) |
6 Months Ended |
( DebtDisclosureAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Bank Loans Payable |
NOTE
10 – BANK LOANS PAYABLE
The
following table sets forth the Company’s loans payable as of June 30, 2019 and December 31, 2018:
| |
June 30, | | |
December 31, | |
Harbin Bank Loans | |
2019 | | |
2018 | |
| |
(Unaudited) | | |
| |
Interest at 5.46% per annum,
payable 07/18/2027 | |
$ | 56,255,822 | | |
$ | 56,267,993 | |
Interest at 7.08% per annum, payable
07/19/2024 | |
| 4,158,627 | | |
| 4,348,878 | |
Interest at 6.50% per annum, payable
12/20/2018 | |
| 1,746,623 | | |
| 1,744,744 | |
Interest at 6.50% per annum, payable
12/20/2018 | |
| 1,601,071 | | |
| 1,599,349 | |
Interest at 6.50% per annum, payable
09/12/2019 | |
| 2,896,483 | | |
| 2,893,367 | |
Interest at 6.50%
per annum, payable 03/11/2020 | |
| 1,490,453 | | |
| - | |
Total Principal | |
| 68,149,079 | | |
| 66,854,331 | |
Less: | |
| | | |
| | |
Unamortized debt
issuance cost in connection with Harbin Bank Loans | |
| (368,291 | ) | |
| (395,397 | ) |
Total Bank Loans
Payable | |
$ | 67,780,788 | | |
$ | 66,458,934 | |
On
July 20, 2014, the Company’s subsidiaries, DVPD entered into a 10-year loan agreement (the “RMB 390M Loan”)
$56,765,254 (RMB 390,000,000 translated at June 30, 2019 exchange rate) long-term borrowing from Harbin Bank (the “Bank”).
The RMB 390M Loan was used for “repayment of other bank loans, repayment of shareholder loans and renovations”. The
RMB 390M Loan charges a floating rate of interest at 120% of the loan rate published by the People’s Bank of China for similar
loans. Current benchmark rate for a business loan over 5 years is 4.9% per annum adjusted on October 24, 2015. The effective interest
rate was 5.88% for the three months ended June 30, 2019 and 2018; 5.88% for the six months ended June 30, 2019 and 2018. Originally,
the RMB 390M Loan was to mature on June 19, 2024. On August 17, 2017, the Bank agreed to the following: (i) to extend the maturity
date of the RMB 390M Loan from July 19, 2024 to July 18, 2027; (ii) to extend the initial monthly repayment date from August 20,
2017 to July 20, 2020, however, during the extended period, the Company has to repay principal of $72,776 (RMB 500,000 translated
at June 30, 2019 exchange rate) per quarter plus monthly interest; and (iii) add Mr. Alex Brown, the controlling shareholder and
founder of VCI, as a joint and several guarantor. The RMB 390M Loan agreement includes customary events of default, including
DVPD’s failure to pay any principal or interest when due, becoming insolvent, or ceasing operations, or if there is a material
adverse change in the assets, business, commitments, or prospects of DVPD. Upon the Bank’s declaration of an event of default
under the Loan agreement, they can demand payment in full of all outstanding principal and accrued interest.
According
to the loan agreement with the bank dated August 17, 2017, the Company has to pay to the bank the quarterly principle plus monthly
interest through the first quarter of 2019, of $918,000 The Company, however, did not make such payment as of June 30,
2019, which can be considered as an event of default. The Bank and the Company have verbally agreed that the outstanding principle
and interest will be paid by March 31, 2020.
The
RMB 390M Loan is secured substantially by 18,650 square meters (200,747 square feet) of rental properties owned by DVPD and guaranteed
jointly by Sino Pride, DVPD, DVBM, and Mr. Alex Brown. If DVPD fails to fulfill the obligations of the relevant provisions of
the RMB 390M Loan agreement, each guarantor shall be liable and pay liquidated damages to the Bank. The damages are 20% of the
principal amount of the loan.
On
March 24, 2015, DVPD entered into a loan agreement (the “RMB 50M Loan”) for a $7,277,597 (RMB50,000,000 translated
at June 30, 2019 exchange rate) long-term borrowing from the Bank. The RMB 50M Loan was used for “renovations”. The
RMB 50M Loan charges a floating rate of interest at 120% of the loan rate published by the People’s Bank of China. The current
benchmark rate for a business loan over 5 years is 4.9% per annum adjusted on October 24, 2015. The effective interest rate for
the three months ended June 30, 2019 and 2018 was 5.88% and 5.91%, respectively; 5.90% and 5.91%, respectively, for the six months
ended June 30, 2019 and 2018. The maturity date of the RMB 50M Loan is July 19, 2024. The RMB 50M Loan Agreement includes customary
events of default, including DVPD’s failure to pay any principal or interest when due, becoming insolvent, or ceasing operations,
or if there is a material adverse change in the assets, business, commitments, or prospects of DVPD. Upon the Bank’s declaration
of an event of default under the loan agreement, the Bank Loan can demand payment in full of all outstanding principal and accrued
interest.
According to the loan agreement with the bank dated March 24, 2015, the Company has paid to the bank the principle
quarterly plus related monthly interest through the first quarter of 2019. The Company, however, did not pay the principle and
interest in the amount of approximately $126,000 during the second quarter ended June 30, 2019, which can be considered as an event
of default.
The Bank and the Company have verbally
agreed that the outstanding principle and interest will be paid by March 31, 2020.
The
RMB 50M Loan is secured substantially by 2,053 square meters (22,098 square feet) of rental properties owned by DVPD and guaranteed
jointly by Sino Pride, DVPD and DVBM. If DVPD fails to fulfill the obligations of the relevant provisions of the Loan agreement,
each guarantor shall be liable and pay liquidated damages to the Bank. The damages are 20% of the principal amount of the loan.
The Company is required to make the principal and interest payments from April 20, 2015 through the Maturity Date.
On
December 21, 2017, DVPD entered into a liquidity loan agreement (the “RMB 23M Loan”) for a principal amount of $3,347,694
(RMB 23,000,000 translated at June 30, 2019 exchange rate) from Harbin Bank (the “Bank”) with interest at 6.5%, payable
monthly. The RMB 23M Loan is used for short term liquidity needs. On December 28, 2017, DVPD borrowed $1,746,623 (RBM 12,000,000
translated at June 30, 2019 exchange rate). The term of the loan was one year and was due on December 20, 2018. On January 19,
2018, DVPD borrowed an additional $1,601,071 (RBM 11,000,000 translated at June 30, 2019 exchange rate). DVPD may choose to extend
the term of the loan after obtaining prior written consent from the Bank at least 15 days prior to the maturity date. Currently,
the loan agreement includes customary events of default, including DVPD’s failure to pay any principal or interest when
due, becoming insolvent, or ceasing operations, or if there is a material adverse change in the assets, business, commitments,
or prospects of DVPD. Upon the bank’s declaration of an event of default under the loan agreement, the Bank can demand repayment
in full of principal and accrued interest. The Loan also prohibits the payment of dividends. The RMB 23M loan is secured by the
same collateral as the RMB 50M loan and is guaranteed jointly by DVBM and Sino Pride. The Company did not make repayment at the
due date and is currently in default. As of June 30, 2019, the Company has negotiated with the Bank and agreed to pay back
the RMB 23M loan in March, 2020.
On
September 27, 2018, DVPD borrowed $2,891,727 (RMB19,900,000 translated at June 30, 2019 exchange rate) in a short-term loan from
Harbin Bank. The loan requires interest at 6.50% per annum and expires on September 12, 2019. The use of loan proceeds is restricted
to pay principal and interest amounts owed to Harbin Bank.
On
March 26, 2019, DVPD borrowed $1,490,452 (RMB10,240,000) in a short-term loan from Harbin Bank. The loan requires interest at
6.50% per annum and expires on March 11, 2020. The use of loan proceeds is restricted to pay principal and interest amounts owed
to Harbin Bank.
The
weighted average short-term loan balance consisting of loans from financial institutions was $1,951,524 and $921,051 for the three
months ended June 30, 2019 and 2018, respectively. The weighted average short-term loan balance consisting of loans from financial
institutions was $3,560,136 and $1,639,604 for the six months ended June 30, 2019 and 2018, respectively. The weighted average
interest rate for short term loans was 6.50% and 6.50% per annum for the three months ended June 30, 2019 and 2018, respectively.
The weighted average interest rate for short term loans was 6.48% and 6.50% per annum for the six months ended June 30, 2019 and
2018, respectively.
For
the three months ended June 30, 2019 and 2018, interest expense incurred for the above loans, including amortization of debt issuance
costs amounted to $1,055,274 and $1,055,881, respectively. For the six months ended June 30, 2019 and 2018, interest expense incurred
for the above loans, including amortization of debt issuance costs amounted to $2,098,494 and $2,093,545, respectively.
Debt
Maturities
As
of June 30, 2019, scheduled maturities of the Company’s outstanding bank loans were as follows:
Twelve Months Ended June 30, | |
| |
2020 | |
$ | 56,255,822 | |
2021 | |
| 4,158,627 | |
2022 | |
| 1,746,623 | |
2023 | |
| 1,601,071 | |
2024 | |
| 2,896,483 | |
Thereafter | |
| 1,490,453 | |
Total debt maturities | |
| 68,149,079 | |
Less: | |
| | |
Net unamortized debt issuance costs | |
| (368,291 | ) |
Total debt obligations | |
$ | 67,780,788 | | | |
( us-gaap:DebtDisclosureTextBlock ) |
| |
|
(End Disclosure - Bank Loans Payable) |
|
Disclosure - Property Financing Agreements Payable |
Disclosure - Property Financing Agreements Payable (USD $) |
6 Months Ended |
( custom:PropertyFinancingAgreementPayableAbstract [Extension] ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Property Financing Agreements Payable |
NOTE
11 – PROPERTY FINANCING AGREEMENTS PAYABLE
Property
financing agreements payable consists of the following as of June 30, 2019 and December 31, 2018.
| |
June 30, | | |
December 31, | |
| |
2019 | | |
2018 | |
| |
(Unaudited) | | |
| |
Buy-back
financing agreements | |
$ | 46,535,950 | | |
$ | 46,438,364 | |
SML financing agreements | |
| 34,816,640 | | |
| 33,529,953 | |
Net unamortized
SML financing cost | |
| (45,011 | ) | |
| (63,697 | ) |
Total property
financing agreements, net | |
$ | 81,307,579 | | |
$ | 79,904,620 | |
Buy-back
Financing Agreements
As
of June 30, 2019, 216,230 square feet (20,096 square meters) of total properties (15%), which are included group B and group C
properties-the properties transferred to SML) were sold to various unrelated individuals and entities with a buy-back option.
The majority of these properties was sold in the period from 1998 to 2012. The date of buy-back options ranged from 2014
to 2018.
The
Company’s accounting policy is to treat these types of sales as financing agreements. The costs of properties sold were
kept under the caption of “rental properties” in the consolidated financial statements and continue to depreciate
the properties over their estimated life. (see Note 5, Rental Properties, Net) The Company recorded sales proceeds as “property
financing agreements payable” in the consolidated financial statements and accrues interest during the period of the buy-back
option. The interest rate is determined by the price spread of each unit’s sale price and buy-back price, and the time span
from the date of sale to the expiration date (last date to execute the option). In the case where the buy-back price is equal
to the sales price, a bank long term lending rated is used. The amount of buy-back financing agreements represents the original
proceeds from the sale of the property plus accrued interest. At the date of expiration, the amount of the buy-back financing
agreements will equal the buy-back price stated in the buy-back contracts.
Detailed
information on property buy-back financing agreements payable in group B as of June 30, 2019 and December 31, 2018 as follows.
| |
Units | | |
Square
Feet | | |
Selling
Price | | |
Buy-Back
Price | | |
Property
Financing Agreement Payable | |
| |
| | |
| | |
| | |
| | |
| |
June 30, 2019 | |
| | | |
| | | |
| | | |
| | | |
| | |
Effective agreements | |
| 7 | | |
| 2,454 | | |
| 867,155 | | |
| 1,184,997 | | |
| 1,145,031 | |
Past due agreements | |
| 486 | | |
| 127,552 | | |
| 37,236,507 | | |
| 45,386,804 | | |
| 45,390,919 | |
Total financing
agreements | |
| 493 | | |
| 130,006 | | |
| 38,103,662 | | |
| 46,571,801 | | |
| 46,535,950 | |
| |
| | | |
| | | |
| | | |
| | | |
| | |
December 31, 2018 | |
| | | |
| | | |
| | | |
| | | |
| | |
Effective agreements | |
| 14 | | |
| 5,047 | | |
$ | 1,765,972 | | |
$ | 2,501,614 | | |
$ | 2,420,513 | |
Past due agreements | |
| 479 | | |
| 124,959 | | |
| 36,322,719 | | |
| 44,030,955 | | |
| 44,017,851 | |
Total financing
agreements | |
| 493 | | |
| 130,006 | | |
| 38,088,691 | | |
| 46,532,569 | | |
| 46,438,364 | |
The
buy-back price is the price that Company has to pay when the owner of property exercises their option to have the Company buy-back
the property. This price is stated in the buy-back agreement. Property financing agreements payable is the amount that the Company
accrued as a liability as of the reporting date. At the date of maturity, property financing agreements will equal the buy-back
price.
Property
financing agreements payable will be derecognized when the buy-back amount is fully paid. In the case of settlement, the remaining
unpaid balance will be reclassified from buy-back payable to other payables. The amount recorded as buy-back payables reclassified
to other payables was $4,207,403 and $4,186,382 as of June 30, 2019 and December 31, 2018, respectively.
Following
table set forth the expiration of buy-back options (group B properties) and the buy-back amount.
Future
Expiration | |
Units | |
Amount | |
Past due as of 06/30/2019 | |
486 | |
$ | 45,386,804 | |
6/30/2020 | |
3 | |
| 561,408 | |
6/30/2021 | |
2 | |
| 367,067 | |
6/30/2022 | |
2 | |
| 256,522 | |
6/30/2023 | |
- | |
| - | |
Total | |
493 | |
$ | 46,571,801 | |
SML
Agreement
On
December 29, 2017, the Company entered into an agreement “Strategy Cooperation Agreement”, as amended on February
22, 2018 (the “SML Agreement”) with Dalian Sheng Ma Lin Trading Ltd. (“SML”). Pursuant to the SML Agreement,
SML will negotiate with each individual property owner who exercised their option to request the Company to buy back the property
on a case by case basis and pay an agreed price to such owner. SML will subsequently become the owner of the property and the
Company has agreed to buy back the property at the initial price under the buy-back option with the previous owner no later than
May 15, 2020. The Company also agreed to pay interest of 8% per annum commencing on January 1, 2018. In addition, SML will settle
the lease-back payables under the lease-back agreements with each individual property owner and the Company agrees to pay SML
the amount of rent payable under the lease-back plus annual interest of 8% commencing on January 1, 2018. The SML Agreement helps
the Company to temporarily relieve part of the pressure from disputes and expedite the settlements which will help Company to
improve its credit and financial position so that the Company can focus on the business and renovation. However, if the Company
fails to carry out the renovation, or the renovation is not successful, the Company may not have enough funds to buy back the
properties from SML or pay the lease-back amounts owed to SML before May 15, 2020, and the Company may not be able to continue
its operations or business. SML has no relationship or affiliation with the Company other than the SML agreement. As of June 30,
2019, the properties with buy-back options totaled 319 units, 86,244 square feet (8,013 meters) were included in the SML Agreement.
Amounts
under the SML Agreement as of June 30, 2019 and December 31, 2018 consist of following:
| |
June
30,
2019 | | |
December
31,
2018 | |
Buy-back related cases: including historical buy-back remaining balance | |
$ | 27,024,862 | | |
$ | 26,995,786 | |
Lease-back related cases: including historical lease-back payable remaining balance | |
| 4,073,465 | | |
| 4,069,082 | |
Accrued interest payable to SML | |
| 3,718,313 | | |
| 2,465,085 | |
Total SML financing agreements | |
$ | 34,816,640 | | |
$ | 33,529,953 | | | |
( custom:PropertyFinancingAgreementPayableTextBlock [Extension] ) |
| |
|
(End Disclosure - Property Financing Agreements Payable) |
|
Disclosure - Account Payable and Accrued Liabilities |
Disclosure - Account Payable and Accrued Liabilities (USD $) |
6 Months Ended |
( PayablesAndAccrualsAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Account Payable and Accrued Liabilities |
NOTE
12 – Account Payable and accrued liabilities
Accounts
payable and accrued liabilities consist of the following:
| |
June 30, | | |
December 31, | |
| |
2019 | | |
2018 | |
| |
(Unaudited) | | |
| |
Accounts payable | |
$ | 3,307,973 | | |
$ | 2,839,967 | |
Wages and employee benefit payable | |
| 511,121 | | |
| 370,151 | |
Taxes payable* | |
| 853,173 | | |
| 584,693 | |
VAT payable | |
| 659,638 | | |
| 455,962 | |
Bank loan interest
payable | |
| 1,310,181 | | |
| 496,831 | |
Total accounts
payable and accrued liabilities | |
$ | 6,642,086 | | |
$ | 4,747,604 | |
*
Taxes payable consist of the following:
| |
June 30, | | |
December 31, | |
| |
2019 | | |
2018 | |
| |
(Unaudited) | | |
| |
Individual income taxes | |
$ | 25,773 | | |
$ | 30,674 | |
Business taxes | |
| 161,964 | | |
| 136,725 | |
Property and land use taxes | |
| 392,996 | | |
| 253,226 | |
Tax
penalties | |
| 183,955 | | |
| 90,473 | |
Other surcharge
and fees | |
| 88,485 | | |
| 73,595 | |
Total | |
$ | 853,173 | | |
$ | 584,693 | |
As
of June 30, 2019 and December 31, 2018, the Company’s taxes payable includes property tax, land use right taxes, income
tax, taxes related to rental and other taxes in the aggregate amount of $853,173 and $584,693, respectively. In accordance with
Chinese tax authorities and tax laws, the Company accrued tax penalties payable of $183,955 and $90,473 as of June 30, 2019 and
December 31, 2018, respectively. | |
( us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock ) |
| |
|
(End Disclosure - Account Payable and Accrued Liabilities) |
|
Disclosure - Lease Liabilities |
Disclosure - Lease Liabilities (USD $) |
6 Months Ended |
( us-gaap:LeasesAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Lease Liabilities |
NOTE
13 – LEASE LIABILITIES
Leases
liabilities consisted of following as of June 30, 2019.
Lease Type | |
Property
Group | |
Lease
Units | |
Lease
Payable | |
Financing lease | |
B | |
3 | |
$ | 127,005 | |
Financing lease | |
D | |
4 | |
| 27,943 | |
Operating lease | |
Office rent | |
1 | |
| 241,733 | |
Total | |
| |
8 | |
$ | 396,681 | |
Leases
liabilities consisted of following as of December 31, 2018.
Lease Type | |
Property
Group | |
Lease
Units | |
Lease
Payable | |
Financing lease | |
B | |
4 | |
$ | 176,902 | |
Financing lease | |
D | |
4 | |
| 38,878 | |
Operating lease | |
Office rent | |
1 | |
| 396,345 | |
Total | |
| |
9 | |
$ | 612,125 | |
For
the six months ended June 30, 2019, 1 lease-back lease expired. For the year ended December 31, 2018, 15 lease-back leases expired.
The Company did not renew those leases. The unpaid lease liability was recorded as “Other payables” in the accompanying
consolidated financial statements. Accumulated unpaid lease-back liabilities were $5,520,308 and $5,456,883 as of June 30, 2019
and December 31, 2018, respectively.
A
typical lease contract will include the: (i) the lease period – usually around 10 years, (ii) agreed lease payment amount,
and (iii) payment terms among others. The Company takes the risk after the lease is signed. The Company is liable for the agreed
lease-back payment amount even if the property is vacant. Lease-back rental properties may be combined with company owned properties
together for rent depending on the needs of the tenant. The Company did not trace income separately from those lease-back properties.
Rental income is reported gross including rent income from our owned properties and lease-back properties. Lease-back expenses
were recorded as amortization, interest and lease-back expenses separately.
Financing
lease expenses consisted of (i) amortization of the ROU asset; (ii) interest expense of the lease liability and (iii) other one-time
payments including late payment reimbursement. The Company incurred $27,685 and $29,970 of amortization of ROU assets for the
three months ended June 30, 2019 and 2018, respectively; $42,366 and $73,089 of amortization of ROU assets for the six months
ended June 30, 2019 and 2018, respectively. The Company incurred $1,170 and $29,970 of interest expense in connection with financing
leases for the three months ended June 30, 2019 and 2018, respectively; $1,973 and $32,612 of interest expense in connection with
financing leases for the six months ended June 30, 2019 and 2018, respectively. The Company incurred additional expenses of ($2,071)
and $1,240,00 in connection with the lease-back operations for the three months ended June 30, 2019 and 2018, respectively; 5,038
and $3,536,610 in connection with the lease-back operations for the six months ended June 30, 2019 and 2018, respectively. The
expenses during the three months and six months ended June 30, 2019 were mainly caused by unpaid balance of lease-back payables
and buy-back payables, such as additional rental payments, late payment reimbursements and taxes paid on behalf of the property
owners.
Operating
lease expense was $78,517 and $81,846 for the three months ended June 30, 2019 and 2018, respectively; $156,972 and $81,846
for the six months ended June 30, 2019 and 2018, respectively. The short-term rent lease expense was also included in operating
lease expense. In addition to the above operating lease expense, short-term rental expense was $44,214 and $65,941 for the three
months ended June 30, 2019 and 2018, respectively; $141,169 and $147,981 for the six months ended June 30, 2019 and 2018, respectively.
Future
minimum lease-back payables at June 30, 2019 were as follows:
For the Twelve Months
Ending | |
Lease
Units* | |
Square
Feet | |
Minimum
Lease Payable | |
June 30, 2020 | |
7 | |
1,485 | |
$ | 17,046 | |
June 30, 2021 | |
2 | |
108 | |
| 461 | |
Total future
minimum lease payable | |
| |
| |
$ | 17,507 | |
*
Lease units represent total leases during the periods
Sino
Pride leases office space under an operating lease agreement which expires March 26, 2020. The future minimum rental payments
are as follows:
Twelve Months Ended
June 30, | |
| 243,115 | |
2020 | |
$ | 243,115 | | | |
( us-gaap:LesseeFinanceLeasesTextBlock ) |
| |
|
(End Disclosure - Lease Liabilities) |
|
Disclosure - Other Payables |
Disclosure - Other Payables (USD $) |
6 Months Ended |
( OtherLiabilitiesDisclosureAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Other Payables |
NOTE
14 – OTHER PAYABLES
Other
payables consist of the following:
| |
June 30, | | |
December 31, | |
| |
2019 | | |
2018 | |
| |
(Unaudited) | | |
| |
Tenants
deposits payable | |
$ | 2,674,775 | | |
$ | 2,652,706 | |
Tenants escrow account | |
| 830,101 | | |
| 1,607,935 | |
Guaranteed rent payable | |
| 286,702 | | |
| 286,394 | |
Expired lease-back payable | |
| 5,520,308 | | |
| 5,456,883 | |
Buy-back payable | |
| 4,207,403 | | |
| 4,186,382 | |
Accrued liabilities for additional
payable from litigation | |
| 4,805,518 | | |
| 4,800,348 | |
Union, housing,
heating and others | |
| 751,690 | | |
| 604,227 | |
Total Other Payables | |
$ | 19,076,497 | | |
$ | 19,594,875 | | | |
( us-gaap:OtherLiabilitiesDisclosureTextBlock ) |
| |
|
(End Disclosure - Other Payables) |
|
Disclosure - Related Party Transactions |
Disclosure - Related Party Transactions (USD $) |
6 Months Ended |
( RelatedPartyTransactionsAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Related Party Transactions |
NOTE
15 – RELATED PARTY TRANSACTIONS
The
Company has been financing its operations by borrowing funds from Sino Pride and DVDC, the holder of the 20% non-controlling equity
interest of DVPD.
Loan
payable to related party consists of following as of June 30, 2019 and December 31, 2018:
| |
June
30, 2019 | | |
December
31, 2018 | |
| |
(Unaudited) | | |
| |
Loan payable to DVDC | |
$ | 10,735,328 | | |
$ | 10,723,778 | |
Due to related
individual | |
| 832,367 | | |
| 792,502 | |
Loan payable
to related parties | |
$ | 11,567,695 | | |
$ | 11,516,280 | |
Loan
Payable to DVDC
DVDC
contributed land use rights and infrastructures valued at $20,000,000 to DVPD. Among this $20,000,000 contribution, $6,800,000
was recorded as registered capital, $13,200,000 was recorded as a loan payable to DVDC per the December 25, 2000 agreement. The
loan is payable when DVPD is profitable. Loan principal $3,300,000 (25% of $13,200,000) bears interest at 8% per annum. The interest
rate for the remaining balance of principal is equal to the loan rate published by Bank of China.
Loan
payable to DVDC was initiated in US dollars and related interest calculations are based on the principal in US dollars per the
loan agreement. However, the loan agreement did not specify which currency will be used when the loan is repaid. Considering that
DVDC is a Chinese entity and located in China, loan and interest payments must be denominated in RMB, therefore, RMB is the currency
utilized to record the principal and interest payable. Any gain or loss resulting the translation of the financial statements
will be recorded in “accumulated comprehensive income (loss)” section. RMB109,356,000 loan payable to DVDC was translated
from $13,200,000 US dollars at the historical rate.
Loan
payable to DVDC consists of following at June 30, 2019 and December 31, 2018.
| |
June
30, 2019 | | |
December
31, 2018 | |
| |
(Unaudited) | | |
| |
Loan principal | |
$ | 13,200,000 | | |
$ | 13,200,000 | |
Advance payments for infrastructure
construction | |
| (5,685,747 | ) | |
| (5,685,747 | ) |
Other payable
to DVDC | |
| 215,136 | | |
| 215,136 | |
Net loan payable to DVDC | |
| 7,729,389 | | |
| 7,729,389 | |
Foreign exchange
effect | |
| 3,005,939 | | |
| 2,994,389 | |
Net loan payable
to DVDC | |
$ | 10,735,328 | | |
$ | 10,723,778 | |
Accrued
interest expense – related parties was $134,180 and $133,931 for the three months ended June 30, 2019 and 2018, respectively;
$268,376 and $262,755 for the six months ended June 30, 2019 and 2018, respectively. Total accrued interest payable to related
parties was $11,398,826 and $11,121,817 at June 30, 2019 and December 31, 2018, respectively.
Due
to Related Individual
The
spouse of our major shareholder provided working capital for our US office expenses. As of June 30, 2019, and December 31, 2018,
the amount due to this individual was $832,367 and $792,502, respectively. The amount due earns no interest and is due
on demand.
Loan
Payable to Sino Pride
Sino
Pride has been a major source of funds for the operations of DVPD and DVBM. In the period from 1996 to 2008, DVPD received loans
of $38,683,297 from Sino Pride and repaid $20,710,919 in the period from 1998 to 2014. In 2015, total repayments were $4,068,630.
Loan payable to Sino Pride bears interest at 8% per annum. Pursuant to FASB ASC 830-20-35-1, the intra-entity (intercompany transactions)
foreign currency transactions whose terms are denominated in the currency other than the entity’s functional currency and
settlement is anticipated in the foreseeable future (hence not long-term investment nature), requires the increases or decreases
in expected functional currency cash flows to be included in determining income (loss) in the periods as gain (loss) from foreign
currency transactions.
The
loan payable to Sino Pride is denominated in US dollars. The loan is designated as funding for working capital and is not an investment.
The repayment is required when the Company is profitable or has funds available to make repayments. The transactions of loan proceeds
and repayments are dominated in US dollars. The Company uses the bank spot exchange rate to record proceeds and repayments in
RMB in the Company’s books. By the end of the year, the US$ loan balance and interest payable will be translated to RMB
and recorded on DVPD and DVBM’s books.
Loans,
repayments and accrued interest payable to Sino Pride as of June 30, 2019 are as followed:
Loan Payable to Sino Pride | |
| | |
Loan balance at December 31, 2017 | |
$ | 13,503,748 | |
Repayment in
2018 | |
| (200,000 | ) |
Loan balance at December 31, 2018 | |
| 13,303,748 | |
Repayment in the six months ended
June 30, 2019 | |
| - | |
Loan balance at June 30, 2019 | |
$ | 13,303,748 | |
| |
| | |
Interest Payable to Sino Pride | |
| | |
Interest payable at 12/31/2017 | |
$ | 7,451,973 | |
Accrued
interest in 2018 | |
| 1,079,968 | |
Repayment in
2018 | |
| - | |
Interest payable at December 31, 2018 | |
| 8,531,941 | |
Accrued interest
in the six months ended June 30, 2019 | |
| 539,542 | |
Repayment in the six months ended
June 30, 2019 | |
| - | |
Interest payable at June 30, 2019 | |
$ | 9,071,483 | |
The
above inter-company loan payable of $13,303,748 and $13,303,748, and accrued interest payable of $9,071,483 and $8,531,941 at
June 30, 2019 and December 31, 2018, respectively, have been eliminated in the accompanying consolidated financial statements.
The interest expense of $269,771 and $267,075 for the three months ended June 30, 2019 and 2018, respectively, and the interest
expense of $539,542 and $533,076 for the six months ended June 30, 2019 and 2018, respectively, have been eliminated in the accompanying
consolidated financial statements.
Loan
Payable to Shareholder/Due to Shareholder
Due
to shareholder represents the investment amount that Sino Pride received from its former shareholders, which was assigned to the
Company’s current major shareholder, Mr. Alex Brown. Loan payable to shareholder was $65,292,851 and $64,151,148, respectively,
at June 30, 2019 and 2018. During the six months ended June 30, 2019 and 2018, Mr. Alex Brown advanced $949,420 and $529,899 to
the Company, respectively. The balance due to shareholder bears no interest and is payable on demand. | |
( us-gaap:RelatedPartyTransactionsDisclosureTextBlock ) |
| |
|
(End Disclosure - Related Party Transactions) |
|
Disclosure - Income Taxes |
Disclosure - Income Taxes (USD $) |
6 Months Ended |
( IncomeTaxDisclosureAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Income Taxes |
NOTE
16 - INCOME TAXES
The
Company accounts for income taxes pursuant to ASC 740 “Accounting for Income Taxes” which requires the recognition
of deferred tax assets and liabilities for the differences between the financial statements and the tax basis of assets and liabilities,
and for the expected future tax benefit to be derived from tax losses and tax credit carry forwards. Additionally, the accounting
standards require the establishment of a valuation allowance to reflect the likelihood of realization of deferred tax assets.
Realization of deferred tax assets, including those related to the U.S. net operating loss carry forwards for income tax purposes
as compared to financial statement purposes, are dependent upon future taxable income and timing of reversals of future taxable
differences along with any other positive and negative evidence during the periods in which those temporary differences become
deductible or are utilized.
DVPD
and DVBM are located in China and governed by the Income Tax Law of the PRC. Under the Income Tax Laws of the PRC, Chinese companies
are generally subject to an income tax at an effective rate of 25% on income reported in the statutory financial statements after
appropriate tax adjustments. DVPD and DVBM are subject to these statutory rates. Operating losses can be carried forward for five
years.
Sino
Pride is located in Hong Kong and governed by the Tax Laws of Hong Kong. Assessable profits of corporations are taxed at the corporate
tax rate of 16.5%. Tax losses can be carried forward to offset profits in future years until fully absorbed but cannot be carried
back.
VCM
was incorporated in the U.S. on July 5, 2017 and is governed by the U.S. Federal tax laws and the State of Nevada (Incorporation
State).
On
December 22, 2017, the Tax Cuts and Jobs Act (the “TCJA”), which significantly modified U.S. corporate income tax
law, was signed into law by President Trump. The TCJA contains significant changes to corporate income taxation, including but
not limited to the reduction of the corporate income tax rate from a top marginal rate of 35% to a flat rate of 21%, limitation
of the tax deduction for interest expense to 30% of earnings (except for certain small businesses), limitation of the deduction
for net operating losses to 80% of the current year’s taxable income and generally eliminating net operating loss carrybacks,
allowing net operating losses to be carryforward without expiration, one-time taxation of offshore earnings at reduced rates regardless
of whether they are repatriated, elimination of U.S. tax on foreign earnings (subject to certain important exceptions), immediate
deductions for certain new investments instead of deductions for depreciation expense over time, and modifying or repealing many
business deductions and credits. Notwithstanding the reduction in the corporate income tax rate, the overall impact of the new
federal tax law is uncertain, including to what extent various states will conform to the newly enacted federal tax law.
As
of June 30, 2019 and December 31, 2018, DVPD, DVBM and Sino Pride had a combined net foreign operating loss carry forwards of
approximately $55,318,151 and $81,125,753, respectively that may be available to reduce future years’ taxable income. These
foreign losses may not offset US income taxes in the future. Management believes that it appears more likely than not that the
Company will not realize these tax benefits.
As
of June 30, 2019 and December 31, 2018, VCM had approximately $1,983,210 and $1,155,570 net operating loss carryforwards, respectively.
In the U.S net operating losses incurred prior to December 31, 2017, can be carried forward 20 years. Under the TCJA, net operating
losses can be carried forward indefinitely. The Company has no operating income in the US as of the date of reporting. Management
believes that it appears more likely than not that the Company will not realize these tax benefits. VCM’s tax return for
the years ended December 31, 2017 and 2018 are open to IRS inspection.
Future
tax benefits which may arise as a result of net operating losses have not been recognized in the accompanying consolidated financial
statements as their realization has not been determined likely to occur. Also, due to the change in control, there are annual
limitations on future net operating loss carryforward deductions. As future earnings are uncertain, the Company has provided a
valuation allowance for the entire amount of the deferred tax asset. The Company is required to evaluate the tax positions taken
in the course of preparing its tax returns to determine whether tax positions are “more likely than not” of being
sustained by the applicable tax authority “More likely than not” is defined as greater than a 50% chance.
At
June 30, 2019 and December 31, 2018, deferred tax assets consisted of:
| |
June 30, | | |
December 31, | |
| |
2019 | | |
2018 | |
| |
(Unaudited) | | |
| |
Net
operating loss carry forwards | |
| | | |
| | |
Foreign operations | |
$ | 14,410,888 | | |
$ | 18,153,562 | |
US Operations | |
| 416,474 | | |
| 242,670 | |
Valuation allowance | |
| (14,827,362 | ) | |
| (18,396,232 | ) |
Deferred tax
assets - net | |
$ | - | | |
$ | - | |
The
valuation allowance was increased by $1,815,795 and $642,952 for the six months ended June 30, 2019 and 2018,
respectively.
The
provisions for income taxes for the three months and six months ended June 30, 2019 and 2018 are summarized as follows:
| |
June 30, | | |
June 30, | |
| |
2019 | | |
2018 | |
| |
(Unaudited) | | |
(Unaudited) | |
Current | |
$ | - | | |
$ | - | |
Deferred | |
| 1,815,795 | | |
| 642,952 | |
Change in valuation
allowance | |
| (1,815,795 | ) | |
| (642,952 | ) |
Total | |
$ | - | | |
$ | - | |
The
reconciliation of the Company’s effective tax rate as a percentage of income before taxes and Federal statutory rates for
the three months ended June 30, 2019 and 2018, respectively, is as follows:
China | |
June
30,
2019 | | |
June
30,
2018 | |
US statutory tax rate | |
| 21.00 | % | |
| 21.00 | % |
Tax rate difference | |
| 4.00 | % | |
| 4.00 | % |
Changes in valuation
allowance | |
| -25.00 | % | |
| -25.00 | % |
Effective rate | |
| 0.00 | % | |
| 0.00 | % |
| |
| | | |
| | |
Hong Kong | |
| June
30,
2019 | | |
| June
30,
2018 | |
US statutory tax rate | |
| 21.00 | % | |
| 21.00 | % |
Tax rate difference | |
| -4.50 | % | |
| -4.50 | % |
Changes in valuation
allowance | |
| -16.50 | % | |
| -16.50 | % |
Effective rate | |
| 0.00 | % | |
| 0.00 | % | | |
( us-gaap:IncomeTaxDisclosureTextBlock ) |
| |
|
(End Disclosure - Income Taxes) |
|
Disclosure - Stockholders' Equity |
Disclosure - Stockholders' Equity (USD $) |
6 Months Ended |
( us-gaap:StockholdersEquityNoteAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Stockholders' Equity |
NOTE
17– STOCKHOLDERS’ EQUITY
Initial
Public Offering
Pursuant
to the Registration Statement on Form S-1 initially filed with the SEC on November 7, 2018, which was declared effective on February
14, 2019, the Company closed its initial public offering on March 28, 2019. As of March 28, 2019, there were total of 30 individual
investors that signed “Subscription Agreements” to purchase the shares of the Common Stock of the Company. The offering
price was $1 US dollar per share with par value of $0.0001. Total of 1,011,000 shares were purchased by these 30 investors. As
of April 15, 2019, the Company received all proceeds from the investors in the amount of $1,011,000. | |
( us-gaap:StockholdersEquityNoteDisclosureTextBlock ) |
| |
|
(End Disclosure - Stockholders' Equity) |
|
Disclosure - Statutory Reserve |
Disclosure - Statutory Reserve (USD $) |
6 Months Ended |
( custom:StatutoryReserveAbstract [Extension] ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Statutory Reserve |
NOTE
18 - STATUTORY RESERVE
Pursuant
to the PRC law, entities must make appropriations from after-tax profits to a non-distributable “statutory surplus reserve
fund”. Subject to certain cumulative limits, the “statutory surplus reserve fund” requires annual appropriations
of 10% of after-tax profit until such appropriations reach 50% of the registered capital (as determined under accounting principles
generally accepted in the PRC (“PRC GAAP”) at each yearend). DVPD and DVBM have not made any appropriations to the
statutory reserve as of June 30, 2019 and December 31, 2018 as DVPD and DVBM as they have not yet generated any after-tax profits. | |
( custom:StatutoryReserveTextBlock [Extension] ) |
| |
|
(End Disclosure - Statutory Reserve) |
|
Disclosure - Non-Controlling Interest |
Disclosure - Non-Controlling Interest (USD $) |
6 Months Ended |
( NoncontrollingInterestAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Non-Controlling Interest |
NOTE
19 – NON-CONTROLLING INTEREST
Non-controlling
interest represents DVDC’s 20% equity ownership interest in DVPD and DVPD’s operating results including its 5% equity
ownership interest in DVBM. Non-controlling interest consisted of the following as of June 30, 2019 and December 31, 2018:
| |
June
30, 2019 | | |
December
31, 2018 | |
| |
(Unaudited) | | |
| |
Non-controlling interest
at beginning of the period | |
$ | (43,368,813 | ) | |
$ | (43,268,669 | ) |
Net loss | |
| (778,625 | ) | |
| (971,370 | ) |
Change in foreign
currency translation adjustment | |
| 853,304 | | |
| 1,997,942 | |
Non-controlling
interest at the end of the period | |
$ | (43,294,134 | ) | |
$ | (42,242,097 | ) | | |
( us-gaap:MinorityInterestDisclosureTextBlock ) |
| |
|
(End Disclosure - Non-Controlling Interest) |
|
Disclosure - Commitments and Contingencies |
Disclosure - Commitments and Contingencies (USD $) |
6 Months Ended |
( CommitmentsAndContingenciesDisclosureAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Commitments and Contingencies |
NOTE
20 - COMMITMENTS AND CONTINGENCIES
Country
Risk
Our
PRC subsidiaries are subject to laws and regulations applicable to various laws and regulations generally applicable to companies
in China. As the Company’s principal operations are conducted currently in the PRC, it is subject to contingencies and risks
not typically associated with companies in North America and Western Europe. These risks include, among others, risks associated
with the political, economic and legal environments and foreign currency exchange limitations encountered in the PRC. The Company’s
results of operations may be adversely affected by changes in the political and social conditions in the PRC, and by changes in
governmental policies with respect to laws and regulations, among other things. The recent political unrest in Hong Kong can
have negative impact for our operations there. However, due to the fact that our major operations are based in Dalian, China and
the operations in Hong Kong are primary administrative in nature, the Company believes the financial impact from the unrest
would be minimal.
In
addition, all the Company’s transactions in the PRC are denominated in RMB, which must be converted into other currencies
before remittance from the PRC. Both conversion of RMB into foreign currencies and remittance of foreign currencies abroad require
approval of the PRC government.
Lease
Sino
Pride leases office space under an operating lease agreement which will expire on March 26, 2020. The future minimum rental payments
are as follows:
Twelve Months Ended
June 30, | |
| 243,115 | |
2020 | |
$ | 243,115 | |
Legal
Proceedings
As
of June 30, 2019, the Company had property financing agreements payable of $81,307,579, lease liabilities payable of $396,681,
lease-back payables past due of $5,520,308, unpaid balances in connection with property buy-backs of $4,207,203. As of June 30,
2019, there were total of 543 lawsuits against the Company in Dalian City, China. Litigants claimed that the Company did not buy
back the property pursuant to the sales contract or the Company did not pay the lease-back rental payments on time. These claims
amounted to $24,586,713 (RMB 168,920,550 translated at the June 30, 2019 exchange rate). These payables were included in and reported
under the caption of “Property financing agreements payable”, “Lease liabilities payable” and “Other
payables”. In connection with the progress of these cases, the Company accrued $4,805,518 as of June 30, 2019 for
possible extra litigation charges. The Company records the related attorney fees when invoiced. The attorney fees in connection
with these cases was $3,550 and $31,784 for the three months ended June 30, 2019 and 2018, respectively; $3,550 and $98,218 for
the six months ended June 30, 2019 and 2018, respectively.
The
nature of these lawsuits is to demand the Company buy-back property per agreements or to pay unpaid rent per lease-back agreements.
The Company has been accruing the interest and included in property financing agreements payable and lease liabilities payable
based on the lease agreements. The Company records the expired lease-back payables and unpaid buy-back payables in other payables
and accrues additional estimated liabilities. The management believes that current recorded liabilities are reasonable estimates
of the total final buy-back payments and total final lease-back payables. In the case of a reasonable possibility that a loss
is to exceed the amount already recognized, the Company will accrue additional estimated liabilities when known.
The
Company intended to buy back these properties at a discounted price (compared to the price in the contract). The Company has intended
to settle the balance due relating to lease-back payables with the owners of the lease-back properties. The Company has formed
a task group and has been negotiating with the plaintiffs and other owners of the lease-back properties.
Collateral
of Company’s Asset to Three Individuals
On
May 18, 2017, 140 square meters (1,507 square feet), owned by the Company was used as collateral to help an unrelated individual
to borrow $720,150 (RMB5,000,000) under a one-year bank loan. There was no profit or gain for the Company to provide this collateral.
The one-year period is now past due. The Company is exposed to the loss of this property if the individual is insolvent and fails
to settle the bank loan.
On
May 18, 2017, the Company allowed one of its board members of DVPD to use 7 units of rental properties, totaling 138 square meters
(1,485 square feet), owned by the Company as collateral to borrow $720,150 (RMB5,000,000) under one-year bank loan. There was
no profit or gain for the Company to provide this collateral. The one-year loan is now past due. The Company is exposed to the
loss of these properties if the individual is insolvent and fails to repay the bank loan.
On
May 18, 2017, the Company allowed one of its board members of DVPD to use 2 units of rental properties, totaling 15 square meters
(161 square feet), owned by the Company as collateral to borrow $720,150 (RMB 5,000,000) under a one-year bank loan. There was
no profit or gain for the Company to provide this collateral. The one-year period is past due. The Company is exposed to the loss
of these properties if the individual is insolvent and fails to settle the bank loan.
As of June 30, 2019, the Company has discussed
with the respective individuals to settle the issue with the Company by either paying the loan back to the bank or providing
its own assets as collateral so as to release the Company’s property as collateral by December 31, 2019. The Company would
take the legal actions again the individuals if they fail to adopt either action by the same deadline. | |
( us-gaap:CommitmentsAndContingenciesDisclosureTextBlock ) |
| |
|
(End Disclosure - Commitments and Contingencies) |
|
Disclosure - Concentration of Credit Risk |
Disclosure - Concentration of Credit Risk (USD $) |
6 Months Ended |
( RisksAndUncertaintiesAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Concentration of Credit Risk |
NOTE
21 – CONCENTRATION OF CREDIT RISK
The
Company maintains cash balances in various banks in China and the Special Region of Hong Kong. Per regulation of PRC, the maximum
insured bank deposit amount is approximately $72,700 (RMB 500,000) for each financial institution. As of June 30, 2019, the Company’s
uninsured cash balance was zero.
The
Company receives rental and management fee income from approximately 700 tenants. Revenue from the top ten tenants accounted for
19.72% and 21.33% of total revenue, for the six months ended June 30, 2019 and 2018, respectively. No individual tenant’s
revenue accounts for more than 10% of the total revenue in the above periods. | |
( us-gaap:ConcentrationRiskDisclosureTextBlock ) |
| |
|
(End Disclosure - Concentration of Credit Risk) |
|
Disclosure - Subsequent Events |
Disclosure - Subsequent Events (USD $) |
6 Months Ended |
( SubsequentEventsAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Subsequent Events |
NOTE
22 - SUBSEQUENT EVENTS
Lawsuits
Subsequent
to June 30, 2019, 8 new lawsuits with new claims amounting to $283,067 were filed against the Company. As of Aug.
6, 2019, there were a total of 551 lawsuits against the Company in Dalian City, China. Litigants claimed that the Company
did not buy back the properties pursuant to the sales contracts or the Company did not pay the promised lease-back rental payments
on time. These claims amounted to $24,349,252 (RMB170,907,398). Management believes that the amount claimed by these
litigants approximates the amount that the Company has already recorded under the caption of “Property financing agreements
payable”,” Lease liabilities payable” and “Other payables” in the accompanying consolidated financial
statements.
Claims
of Lawsuits as of August 6, 2019
|
|
Store
Unit |
|
|
Square
Feet |
|
|
Contract
Amount in US$ |
|
Property
buy- back related issues |
|
|
241 |
|
|
|
51,870 |
|
|
$ |
19,821,479 |
|
Leases
and leases back related issues |
|
|
239 |
|
|
|
47,721 |
|
|
|
2,803,442 |
|
Other
issues |
|
|
71 |
|
|
|
13,019 |
|
|
|
1,724,331 |
|
Total |
|
|
551 |
|
|
|
112,610 |
|
|
$ |
24,349,252 |
|
As
of August 6, 2019, the Company settled the following cases.
Resolved cases as of August
6, 2019 | |
Total
Resolved Cases | | |
Cases
Resolved in the Six Months Ended June 30, 2019 | | |
Resolved
after June 30, 2019 | |
Property buy- back related
issues | |
| 214 | | |
| 159 | | |
| - | |
Leases and leases back related issues | |
| 215 | | |
| 111 | | |
| 2 | |
Other issues | |
| 54 | | |
| 41 | | |
| 2 | |
Total resolved
cases | |
| 483 | | |
| 311 | | |
| 4 | | | |
( us-gaap:SubsequentEventsTextBlock ) |
| |
|
(End Disclosure - Subsequent Events) |
|
Disclosure - Summary of Significant Accounting Policies (Policies) |
Disclosure - Summary of Significant Accounting Policies (Policies) (USD $) |
6 Months Ended |
( AccountingPoliciesAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Basis of Consolidation |
Basis
of consolidation
The
accompanying unaudited condensed financial statements do not include all disclosures normally required by generally accepted accounting
principles. These statements should be read in conjunction with the annual financial statements included in the Form 10-K filed
with the U.S. Securities and Exchange Commission. In the opinion of management, all adjustments necessary for a fair presentation
have been included in the accompanying unaudited condensed financial statements and consist of only normal recurring adjustments,
except as disclosed herein. The results of operations for the three months and six months ended June 30, 2019 are not necessarily
indicative of the results that may be expected for the full year ending December 31, 2019.
The
Company’s condensed unaudited consolidated financial statements include the accounts of VCM, VCI, Sino Pride, DVPD, DVBM,
and DVPM at June 30, 2019 and for the three and six months ended June 30, 2019. All inter-company accounts and transactions
among the consolidation group have been eliminated in consolidation. | |
( us-gaap:ConsolidationPolicyTextBlock ) |
| |
Use of Estimates |
Use
of Estimates
The
preparation of the condensed unaudited consolidated financial statements in conformity with accounting principles generally accepted
in the U.S. requires management to makes estimates and assumptions that affect the reported amounts of assets, liabilities, revenues,
expenses, and the related disclosures at the date of the consolidated financial statements and during the reporting periods. Actual
results could materially differ from these estimates. Significant estimates include the liabilities recorded for property financing
agreements payable, buy-back payables, lease liabilities payable, expired lease-back payables and the estimated liability accrued
for additional litigation charges related to the numerous lawsuits. Other estimates include the allowance for doubtful accounts
on tenant receivables and other receivables, recoverability of long-lived assets, the useful life of rental properties, property
and equipment and intangible assets, assumptions used in assessing impairment of long-term assets and the valuation of deferred
tax assets. | |
( us-gaap:UseOfEstimates ) |
| |
Foreign Currency Translation |
Foreign
Currency Translation
The
reporting currency of the Company is the U.S. dollar. The functional currency of VCM and VCI is the U.S. dollar, the functional
currency of DVPD, DVBM, and DVPM is the Chinese Renminbi (“RMB”), and the functional currency of Sino Pride and DVPM
is the Hong Kong Dollar (“HK$”). The condensed unaudited consolidated financial statements of the Company have been
translated into U.S. dollars in accordance with ASC 830-30 “Translation of Financial Statements”. The financial information
is first prepared in RMB or HK$ and then translated into the U.S. dollar at the period-end exchange rates as to assets and liabilities
and at average exchange rates as to revenue, expenses and cash flows. Equity accounts are translated at their historical exchange
rates when the capital transactions occurred. As a result, amounts relating to assets and liabilities reported on the statements
of cash flows may not necessarily agree with the changes in the corresponding balance sheets. Translation adjustments resulting
from the process of translating the local currency financial statements into the U.S. dollar are included in accumulated other
comprehensive income (loss). The cumulative translation adjustment and effect of exchange rate changes on cash for the six months
ended June 30, 2019 and the year ended December 31, 2018 were $(4,014,401) and $(3,739,981), respectively. Transactions
denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing on the transaction
dates. Assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rate
prevailing at each balance sheet date with any transaction gains and losses that arise from exchange rate fluctuations on transactions
denominated in a currency other than the functional currency are included in the results of operations as incurred.
Pursuant
to paragraph 830-20-35-1, the intra-entity (intercompany transactions) foreign currency transactions whose terms are denominated
in the currency other than the Company’s functional currency and settlement is anticipated in the foreseeable future (hence
not long-term investment nature), the increases or decreases in expected functional currency cash flows are included in determining
net income (loss) for the period in which the exchange rate changes. The Company has an inter-company loan denominated in US dollars.
The repayment of the loan is required when the Company is profitable. The loan proceeds, repayment and accrued interest were tracked
in US dollars. The Company uses the bank spot exchange rate to record proceeds and repayments in RMB. By the end of the reporting
period, the Company will adjust loan and interest payable balances from US dollars to RMB by using the period ending exchange
rate. Any gain or loss from foreign currency exchange will be recognized in the consolidated statements of operations. There were
$524,372 and $1,103,927 foreign currency transaction loss for the three months ended June 30, 2019 and 2018, respectively. There
were $18,357 foreign currency transaction gains and $378,877 foreign currency transaction losses for the six months ended June
30, 2019 and 2018, respectively.
Spot
exchange rates and average exchange rates published by fxtop.com were used in the translation of the consolidated financial statements.
| |
For
the three months ended
June 30, | | |
For
the six months ended June 30, | |
US Exchange Rate | |
2019 | | |
2018 | | |
2019 | | |
2018 | |
| |
(Unaudited) | | |
(Unaudited) | | |
(Unaudited) | | |
(Unaudited) | |
Period-end RMB | |
| 6.8704 | | |
| 6.6195 | | |
| 6.8704 | | |
| 6.6195 | |
Average RMB | |
| 6.8276 | | |
| 6.3816 | | |
| 6.7871 | | |
| 6.3701 | |
| |
| | | |
| | | |
| | | |
| | |
Period-end HK$ | |
| 7.8090 | | |
| 7.8459 | | |
| 7.8090 | | |
| 7.8459 | |
Average
HK$ | |
| 7.8400 | | |
| 7.8482 | | |
| 7.8432 | | |
| 7.8378 | |
All
foreign exchange transactions must take place through authorized institutions of China. Management makes no representation that
the RMB amounts could have been, or could be, converted into U.S. dollars at the rates used in translation. | |
( us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock ) |
| |
Revenue Recognition |
Revenue
Recognition
Rental
Income
Our
Victory Plaza currently has 3,173 rental units. Among these rental properties, the Company owned 434 units, 812 units were sold
but with buy-back options, and 1,927 units were sold with no options. The Company will lease back part of these sold properties
at the owner’s will and rent out to tenants. As of June 30, 2019, and December 31, 2018, the Company had 7 and 8 lease-back
units, respectively. Rental income is reported in the gross amount including rent income from our owned properties and lease-back
properties. Existing lease-back expenses were recorded as amortization and interest expenses. Expired lease-back expenses were
included in the lease expenses.
The
Company recognizes the rental income on a straight-line basis over the terms of the leases. The cumulative differences between
rental income recognized in the Company’s condensed unaudited consolidated statements of operations and contractual payment
terms have been recorded as deferred rental income and presented on the accompanying condensed consolidated balance sheets.
Property
Management Fee Income
We
currently provide common area management services to all tenants and shop owners. Common area management services include security,
cleaning, fire service, landscaping, public facilities maintenance and other traditional services provided by a property management
office. The terms of the property management agreements are usually consistent with the tenants’ lease term. Property management
fees are charged based on the area of property ranging from $17 to $20 per square foot per annum.
Since
the performance obligations in the property management agreement are identical with the terms of property management agreement,
the Company recognizes the propriety management income on a straight-line basis over the terms of the management agreement. The
cumulative differences between property management income recognized in the Company’s condensed unaudited consolidated statements
of operations and contractual payment terms have been recorded as deferred income and presented on the accompanying condensed
consolidated balance sheets.
Expense
Recovery
The
Company will pay utility, repair and insurance expenses to third party vendors in order to fulfill its management obligations.
The Company will charge all or part of these expenses to tenants in addition to property management fees. The charge methods will
depend on the size of tenant and terms of property management agreement. The Company is acting as an agent to arrange for the
provision of utilities, repairs and other services by third parties. The Company will recognize the fees collected as income after
the Company’s service is provided. The recovered expenses will offset the income the Company is paid and be reported net
under the caption of other income in the accompanying condensed unaudited consolidated financial statements. | |
( us-gaap:RevenueFromContractWithCustomerPolicyTextBlock ) |
| |
Rental Properties |
Rental
Properties
Rental
properties are carried at cost less accumulated depreciation and amortization. Betterments, major renovations and certain costs
directly related to the improvements of rental properties are capitalized. Maintenance and repairs are expensed as incurred. Depreciation
is recognized on a straight-line basis over estimated useful lives of the assets. Improvements are capitalized and amortized over
the shorter of their estimated useful lives or the terms of the respective leases, if any. When rental properties are sold or
otherwise disposed of, the cost and related accumulated depreciation are eliminated from the accounts and any resulting gain or
loss is recognized in the results of operations.
The
following table summarized the ownership of rental properties.
| |
| |
%
of Total | | |
Financial
Statement Presentation |
Group | |
Description
of Property | |
SQ
Ft | | |
Assets | |
Liabilities |
A | |
Owned with title by DVPD | |
| 16 | % | |
Rental properties | |
N/A |
B | |
Sold
properties required to be repurchased - option exercised | |
| 9 | % | |
Rental properties | |
Property financing agreements payable |
C* | |
Properties with buy- back options transferred
to SML in 2017 and 2018 | |
| 6 | % | |
Rental properties | |
Loan payable SML |
D | |
Sold properties | |
| 69 | % | |
N/A | |
N/A |
| |
Total properties | |
| 100 | % | |
| |
|
*
In the filing of Form S-1/A dated February 12, 2019, the Company had a C-2 property group category, “Third party has title
acquired from previous owner”. The purchase and sale transactions between previous owner and new owner - “third party”
will not remove the burden of the Company to buy back the property per the buy-back options. The nature of C-2 group is the same
as group B. Therefore, we removed group C-2 (approximately 1%) and combined it with group B above.
Group
A represents property that the Company owns. Group B represents property we sold to individual owners with the requirement
to be repurchased and options were exercised. Group C represents property owned by SML, but the Company is still liable for
the buy-back options. Pursuant to the SML Agreement, the Company is obligated to buy back these properties plus accrued interest
no later than May 15, 2020. Group D presents property we sold to various individual owners without additional rights attached.
Sold
Rental Properties with Financing Agreements (Group B and C Properties)
Pursuant
to the sales contracts, the buyers obtained legal title to the property and also had an option to sign a separate buy-back agreement.
The purchase agreement granted the buyer an option to request the Company to buy back sold properties at a stated buy-back price
once the option is vested and the Company has received the payments for the sold property. As of June 30, 2019, approximately
16% of total rental spaces of Victory Plaza were sold to various unrelated individuals and entities with buy-back options. The
majority of these properties were sold during the period from 1998 to 2014. The vesting dates of the buy-back options ranged from
2014 to 2018. As of June 30, 2019, there are 3 remaining buy back options that can be exercised.
Pursuant
to ASC 360-20-40-38, if a property seller has an obligation to repurchase the property, or the terms of the transaction allow
the buyer to compel the seller or give an option to request the seller to repurchase the property, the transaction shall be accounted
for as financing, lease, or profit-sharing arrangement rather than as a sale. It is aligned with ASC 842-40-25-3, an option for
the seller-lessee to repurchase the asset would preclude accounting for the transfer of the asset as a sale of the asset. The
Company’s accounting policy is to treat this type of sale as a financing agreement. The Company continues to report its
ownership of the property sold as an asset (within rental properties) and continues to depreciate the property based on the estimated
useful lives. The Company recorded sales proceeds as “property financing agreements payable” in the consolidated financial
statements and accrues the interest payable during the periods of the vesting. The interest rate is determined by the price spread
of each unit’s sale price and buy-back price, and the time span from the date of sale to the maturity date (last date to
execute the option). The Company will derecognize the liability when the Company purchases back the properties, or the owners
of these properties have settled with the Company or gave up the buy-back options, or upon the expiration of the option if not
exercised. If the settlement is greater than the book amount (including principal and interest), a loss will be recognized. If
the amount of settlement is less than book amount (including principal and interest), a gain will be recognized. See Note 10,
Property Financing Agreement Payable for further information.
Sold
Properties (Group D Properties)
As
of June 30, 2019, approximately 69% of total space of Victory Plaza was sold and is owned by various unrelated individuals
and entities with legal title to the respective properties. Pursuant to the sale contracts, at the date of the sales, buyers obtained
integrated legal ownership to the sold properties and assumed the significant risks and rewards of ownership of the property (had
the ability to rent and sell the property at-will) while the Company received the payments of the purchase price. These sales
are considered final sales.
As
part of our operations, the Company may lease back properties from the owners of group D properties and subleases these properties
to un-related third parties with new lease terms. Sales and lease-back are two separate business transactions. Lease-back is at
the owner’s will and is not a condition of sale. Lease-back could happen immediately after the sale of property or at any
time after the sale if the owner of the property is interested in rental services provided by the Company.
Under
ASC Topic 842, a sale and lease-back arrangement will be accounted for as a sale if all of the following conditions are met: (i)
control of the underlying asset is transferred to the buyer-lessor in accordance with the revenue recognition guidelines in ASC
Topic 606, Revenue from Contracts with Customers, (ii) the classification of the sublease is not a finance lease from the perspective
of the lessee, or a sales-type lease from the perspective of the lessor, and (iii) there is no repurchase option.
There
were 4 outstanding leases that the Company leased back from the owners of group D properties as of June 30, 2019 and December
31, 2018. All these lease-back arrangements met the above criteria and have been accounted for as a sale. The allocated net book
value and land use rights were derecognized, and a gain or loss was recognized when each of the sales was completed. | |
( custom:RentalPropertiesPolicyTextBlock [Extension] ) |
| |
Lessee Accounting |
Lessee
Accounting
We
have elected to early adopt ASC Topic 842, the recent accounting update related to leases. ASC 842 requires us to determine whether
a contract is a lease or contains a lease at the inception of the contract, considering all relevant facts and circumstances.
A contract is a lease or contains a lease if the contract conveys the right to control the use of identified property, plant,
or equipment for a period of time in exchange for consideration.
A
lessee should recognize in the balance sheet a liability to make lease payments (the lease liability) and a right-of-use asset
representing its right to use the underlying asset for the lease term. When measuring assets and liabilities arising from a lease,
a lessee should include payments to be made in optional periods only if the lessee is reasonably certain to exercise its option
to extend the lease or not exercise an option to terminate the lease. Similarly, optional payments to purchase the underlying
asset should be included in the measurement of lease assets and lease liabilities only if the lessee is reasonably certain to
exercise that purchase option.
A
lease is classified as a finance lease when the lease meets any of the following criteria: (i) the lease transfers ownership of
the underlying asset to the lessee by the end of the lease term, (ii) the lease grants the lessee an option to purchase the underlying
asset that the lessee is reasonably certain to exercise, (iii) the lease term is for the major part of the remaining economic
life of the underlying asset, (iv) the present value of the sum of the lease payments and any residual value guaranteed by the
lessee that is not already reflected in the lease payments equals or exceeds substantially all (90% or more) of the fair value
of the underlying asset, or (v) the underlying asset is of such a specialized nature that it is expected to have no alternative
use to the lessor at the end of the lease term. A lease not classified as a finance lease is classified as an operating lease.
The
lease liability is initially measured at the present value of lease payments to be paid as of lease commencement. Lease payments
should be discounted at the rate implicit in the lease or lessee’s incremental borrowing rate. The right-of-use asset is
initially measured as: (i) the lease liability determined, (ii) lease payments made to the lessor at or before lease commencement,
minus lease incentives received from the lessor, and (iii) initial direct costs incurred by the lessee.
A
lessee will measure the lease liability by (a) accreting interest expense on the carrying value of the lease liability using the
effective interest rate method, and (b) reducing the carrying value of the lease liability for lease payments made. A lessee will
measure the right-of-use asset by amortizing that asset over the lease term. Amortization is recorded on a straight-line basis.
The right-of-use asset will also be tested for impairment based on the asset impairment rules that apply to property, plant and
equipment in ASC Topic 360.
For
leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying assets
not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such
leases generally on a straight-line basis over the lease term. | |
( us-gaap:LesseeLeasesPolicyTextBlock ) |
| |
Lessor Accounting |
Lessor
Accounting
The
Company currently owns 434 rental units and leased these rental properties to various tenants. Pursuant to ASC 842 – 30,
the Company will classify a lease as a sales – type lease if: (i) the lease transfers ownership of the underlying asset
to the lessee by the end of the lease term, (ii) the lease grants the lessee an option to purchase the underlying asset that the
lessee is reasonably certain to exercise, (iii) the lease term is for the major part of the remaining economic life of the underlying
asset, (iv) the present value of the sum of the lease payments and any residual value guaranteed by the lessee that is not already
reflected in the lease payments equals or exceeds substantially all (90% or more) of the fair value of the underlying asset, or
(v) the underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end
of the lease term. As of June 30, 2019, none of our leases, as a lessor, met the above criteria to be classified as a sale –
type lease.
Pursuant
to ASC 842 – 30, when none of the sales-type lease classification criteria are met, a lessor would classify the lease as
a direct financing lease when both of the following criteria are met: (i) the present value of the sum of the lease payments and
any residual value guaranteed by the lessee that is not already reflected in the lease payments and/or any other third party unrelated
to the lessor equals or exceeds substantially all (90% or more) of the fair value of the underlying asset and (ii) it is probable
that the lessor will collect the lease payments plus any amount necessary to satisfy a residual value guarantee. As of June 30,
2019, none of our leases, as a lessor, met the above criteria to be classified as a financing lease.
Pursuant
to ASC 842 – 30, a lessor would classify a lease as an operating lease when none of the sales-type or direct financing lease
classification criteria are met. As of June 30, 2019, all leases of the Company’s rental properties were classified as operating
leases. The Company will maintain the underlying asset and recognizes lease income over the lease term. | |
( us-gaap:LessorLeasesPolicyTextBlock ) |
| |
Disposition of Real Estate and Real Estate Investments |
Disposition
of Real Estate and Real Estate Investments
Sales
of real estate include operating properties and investments in real estate joint ventures. Gains from dispositions are recognized
using the full accrual or partial sale methods, provided that the Company has met various criteria relating to the terms of sale
and any subsequent involvement. If the criteria for sales recognition or gain recognition are not met because of a form of continuing
involvement, the accounting for such transactions is dependent on the nature of the continuing involvement. In certain cases,
a sale might not be recognized, and in others all or a portion of the gain might be deferred. | |
( custom:DispositionOfRealEstateAndRealEstateInvestmentsPolicyTextBlock [Extension] ) |
| |
Real Estate Held for Sale |
Real
Estate Held for Sale
The
Company generally considers assets to be held for sale when management believes that a sale is probable within a year. This generally
occurs when a sales contract is executed with no substantive contingencies and the prospective buyer has significant funds at
risk. Assets that are classified as held for sale are recorded at the lower of their carrying amount or fair value, less cost
to sell. The Company evaluated its property portfolio and did not identify any properties that would meet the criteria for held
for sale as of June 30, 2019 and December 31, 2018. | |
( us-gaap:RealEstateHeldForDevelopmentAndSalePolicy ) |
| |
Cash and Cash Equivalents |
Cash
and Cash Equivalents
Cash
and cash equivalents include cash on hand and demand deposits in accounts maintained with commercial banks within the PRC, Hong
Kong and United States. The Company considers all short-term highly liquid investments with original maturities of three months
or less when purchased to be cash and cash equivalents. | |
( us-gaap:CashAndCashEquivalentsPolicyTextBlock ) |
| |
Restricted Cash |
Restricted
Cash
Restricted
cash represents the required cash deposits by the bank to be used for interest and loan repayments only. | |
( us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy ) |
| |
Tenant and Sundry Receivables, Net of Allowance for Doubtful Accounts |
Tenant
and Sundry Receivables, net of Allowance for Doubtful Accounts
Tenant
receivables are recorded at original invoice amount, less an estimated allowance for doubtful accounts. The allowance for doubtful
accounts represents management’s estimate of the amount of probable credit losses, determined by reviewing past due balances
and other information. The Company makes judgments as to the collectability of tenant receivables based on historical trends and
future expectations. Management estimates an allowance for doubtful accounts and adjusts gross tenant receivables based on their
expectation of specific tenant risks and the Company’s tenant receivable aging and collection analysis. Management considers
accounts past due on a tenant-by-tenant basis. Based on its review, management has established an allowance for doubtful
accounts as of June 30, 2019 and December 31, 2018 of $806,098 and $123,467, respectively. | |
( us-gaap:ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy ) |
| |
Property and Equipment |
Property
and Equipment
Property
and equipment are carried at cost, less accumulated depreciation. Cost includes any incremental costs that are directly attributable
to the construction or acquisition of the item of property and equipment. Maintenance and repairs are expensed as incurred, while
major maintenance and remodeling costs are capitalized if they extend the useful life of the asset. Depreciation is computed using
the straight-line method over the estimated useful lives.
When
properties and equipment are sold or otherwise disposed of, the costs and related accumulated depreciation are eliminated from
the accounts and any resulting gain or loss is recognized in the results of operations. | |
( us-gaap:PropertyPlantAndEquipmentPolicyTextBlock ) |
| |
Impairment of Long-lived Assets |
Impairment
of Long-Lived Assets
Long-lived
assets, primarily rental properties and machinery and equipment are reviewed for impairment whenever events or changes in circumstances
indicate that the carrying amount of the assets might not be recoverable. Conditions that would necessitate an impairment assessment
include a significant decline in the observable market value of an asset, a significant change in the manner in which an asset
is used, or a significant adverse change that would indicate that the carrying amount of an asset or group of assets is not recoverable.
For long-lived assets to be held and used, the Company recognizes an impairment loss only if its carrying amount is not recoverable
through its estimated undiscounted future cash flows over the anticipated holding period and measures the impairment loss based
on the amount by which the carrying amount of the asset exceeds its estimated fair value. Fair value is determined through various
valuation techniques, including discounted cash flow models, quoted market values or third-party independent appraisals, as considered
necessary. There were no impairment losses recognized during the three months ended and six months ended June 30, 2019 and 2018. | |
( us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock ) |
| |
Debt Issuance Costs |
Debt
Issuance Costs
Costs
related to bank loans payable consist of fees and direct costs incurred in obtaining such financings. These costs are presented
as a reduction of bank loans payable and are amortized on a straight-line basis over the terms of the related loan payable which
approximates the effective interest rate method. Such amortization is included in “Interest – loans” in the
accompanying condensed consolidated statements of operations, which amounted to $13,930 and $14,902 for the three months ended
June 30, 2019 and 2018, respectively; $27,870 and $24,177 for the six months ended June 30, 2019 and 2018, respectively. | |
( us-gaap:DebtPolicyTextBlock ) |
| |
Per Share Amounts |
Per
Share Amounts
The
Company computes per share amounts in accordance with ASC Topic 260 “Earnings per Share” (EPS) which requires
presentation of basic and diluted EPS. Basic EPS is computed by dividing the net income (loss) available to common stockholders
by the weighted-average number of common shares outstanding for the period. Diluted earnings per share reflects the potential
dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock
or resulted in the issuance of common stock that then shared in the earnings of the Company, if any. This is computed by dividing
net earnings by the combination of basic and dilutive common share equivalents. Since the Company is in a net loss position, all
common stock equivalents would be anti-dilutive and are, therefore, not included in the determination of diluted loss per share.
Accordingly, basic and diluted net loss per share are the same. There were no common stock equivalents as of June 30, 2019 and
2018.
| |
For
the Three Months Ended
June 30, | | |
For
the Six Months Ended
June 30, | |
| |
2019 | | |
2018 | | |
2019 | | |
2018 | |
| |
(Unaudited) | | |
(Unaudited) | | |
(Unaudited) | | |
(Unaudited) | |
Numerator for earnings per share: | |
| | |
| | |
| | |
| |
Net
(loss) attributable to the Company’s common shareholder | |
$ | (5,072,185 | ) | |
$ | (1,498,156 | ) | |
$ | (6,493,114 | ) | |
$ | (2,113,670 | ) |
Denominator for basic and diluted earnings
per share: | |
| | | |
| | | |
| | | |
| | |
Basic weighted average common shares* | |
| 21,711,000 | | |
| 20,700,000 | | |
| 21,230,635 | | |
| 20,700,000 | |
Diluted weighted
average common shares | |
| 21,711,000 | | |
| 20,700,000 | | |
| 21,230,635 | | |
| 20,700,000 | |
Per share amount | |
| | | |
| | | |
| | | |
| | |
Per share -
basic and diluted | |
$ | (0.23 | ) | |
$ | (0.07 | ) | |
$ | (0.31 | ) | |
$ | (0.10 | ) | | |
( us-gaap:EarningsPerSharePolicyTextBlock ) |
| |
Non-controlling Interest |
Non-Controlling
Interest
Non-controlling
interest is classified as a separate line item in the deficit section and disclosures in the Company’s consolidated financial
statements. This amount represents the 20% non-controlling interest in DVPD owned by DVDC. | |
( custom:NoncontrollingInterestPolicyTextBlock [Extension] ) |
| |
Comprehensive Income (loss) |
Comprehensive
Income (Loss)
The
Company follows ASC 220-10, “Reporting Comprehensive Income” ASC 220-10 requires the reporting of comprehensive
income (loss) in addition to net income (loss). Comprehensive income (loss) is a more inclusive financial reporting methodology
that includes disclosure of information that historically has not been recognized in the calculation of net income (loss). Comprehensive
income (loss) generally represents all changes in shareholders’ equity during the period except those resulting from investments
by, or distributions to shareholders. Comprehensive income (loss) reflects the gain (loss) due to foreign currency translation
adjustments. | |
( us-gaap:ComprehensiveIncomePolicyPolicyTextBlock ) |
| |
Fair Value of Financial Instruments |
Fair
Value of Financial Instruments
The
following disclosure of the estimated fair value of financial instruments is made in accordance with the provision of ASC 825-10-65,
“Financial Instruments – Transition and Open Effective Date Information”. Although the estimated fair
value amounts have been determined by the Company using available market information and appropriate valuation methodologies,
the estimates presented are not necessarily indicative of the amounts that the Company could realize in current market exchanges.
The carrying amounts reported in the consolidated balance sheets for cash, accounts receivables and accounts payable approximate
fair value because of the short-term nature of these financial instruments. | |
( us-gaap:FairValueOfFinancialInstrumentsPolicy ) |
| |
Income Taxes |
Income
Taxes
The
Company is governed by the Income Tax Law of the PRC, the Special Region of Hong Kong and the U.S. Internal Revenue Code of 1986,
as amended. The Company accounts for income taxes using the asset/liability method prescribed by ASC 740, “Accounting for
Income Taxes.” Under this method, deferred tax assets and liabilities are determined based on the difference between the
financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which
the differences are expected to reverse. Deferred tax assets are also provided for net operating loss carryforwards that can be
used to offset taxable income in the future. The Company records a valuation allowance to offset deferred tax assets if, based
on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not
be realized. The effect on deferred taxes of a change in tax rates is recognized in income or loss in the period that includes
the enactment date.
The
Company follows the provisions of ASC 740-10-50, “Accounting for Uncertainty in Income Taxes,” which provides clarification
related to the process associated with accounting for uncertain tax positions recognized in the Company’s financial statements.
Audit periods remain open for review until the statute of limitations has passed. The completion of review or the expiration of
the statute of limitations for a given audit period could result in an adjustment to the Company’s liability for income
taxes. Any such adjustment could be material to the Company’s results of operations for any given quarter or annual period
based, in part, upon the results of operations for the given period. As of June 30, 2019 and December 31, 2018, the Company had
no uncertain tax positions, and will continue to evaluate for uncertain positions in the future. | |
( us-gaap:IncomeTaxPolicyTextBlock ) |
| |
Fair Value Measurements |
Fair
Value Measurements
The
Company complies with the provisions of ASC 820 “Fair Value Measurements and Disclosure “(ASC 820) in measuring
fair value and in disclosing fair value measurements. ASC 820 defines fair value, establishes a framework for measuring fair value
and expands disclosures about fair value measurements required under other accounting pronouncements. ASC 820-10-35, Fair Value
Measurements and Disclosures – Subsequent Measurement (ASC 820-10-35), clarifies that fair value is an exit price, representing
the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.
Fair value measurement reflects the assumptions market participants would use in pricing an asset or liability based on the best
information available. Assumptions include the risks inherent in a particular valuation technique and/or the risks inherent in
the inputs to the model.
ASC
820-10-35 discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present
value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost).
The statement utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into
three broad levels. The following is a brief description of those three levels:
Level
1 Inputs – Level 1 inputs are unadjusted quoted prices in active markets for assets or liabilities identical to those to
be reported at fair value. An active market is a market in which transactions occur for the item to be fair valued with sufficient
frequency and volume to provide pricing information on an ongoing basis.
Level
2 Inputs – Level 2 inputs are inputs other than quoted prices included within level 1. Level 2 inputs are observable either
directly or indirectly. These inputs include: (a) quoted prices for similar assets or liabilities in active markets; (b) quoted
prices for identical or similar assets or liabilities in markets that are not active, such as when there are few transactions
for the asset or liability, the prices are not current, price quotations vary substantially over time or in which little information
is released publicly; (c) Inputs other than quoted prices that are observable for the asset or liability and (d) Inputs that are
derived principally from or corroborated by observable market data by correlation or other means.
Level
3 Inputs – Level 3 inputs are unobservable inputs for an asset or liability. These inputs should be used to determine fair
value only when observable inputs are not available. Unobservable inputs should be developed based on the best information available
in the circumstances, which might include internally generated data and assumptions being used to price the asset or liability.
When
determining the fair value measurements for assets or liabilities required or permitted to be recorded at and/or marked to fair
value, the Company considers the principal or most advantageous market in which it would transact and considers assumptions that
market participants would use when pricing the asset or liability. When possible, the Company looks to active and observable markets
to price identical assets. When identical assets are not traded in active markets, the Company looks to market observable data
for similar assets. Nevertheless, certain assets are not actively traded in observable markets and the Company must use alternative
valuation techniques to derive a fair value measurement. | |
( us-gaap:FairValueMeasurementPolicyPolicyTextBlock ) |
| |
Related Parties |
Related
Parties
Parties
are considered to be related to the Company if they, directly or indirectly, through one or more intermediaries, control, are
controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its
management, members of the immediate families of principal owners of the Company and its management and other parties with which
the Company may deal with if one party controls or can significantly influence the management or operating policies of the other
to an extent that one of the transacting parties might be prevented from fully pursuing its separate interests. The Company discloses
all related party transactions. | |
( custom:RelatedPartiesPolicyTextBlock [Extension] ) |
| |
Deferred Rental Income |
Deferred
Rental Income
Rental
and management fee income from leases are recognized on a straight-line basis over the term of the relevant leases. The cumulative
difference between the rental income/management fees recognized in the Company’s consolidated statements of operations and
actual annual contractual lease payments are recorded as deferred rental income and presented on the consolidated balance sheets.
Additionally, prepaid lease payments from the tenant is recorded within the deferred income. | |
( us-gaap:DeferredChargesPolicyTextBlock ) |
| |
Advertising |
Advertising
Advertising
is expensed as incurred and is included in other general and administrative expenses. There were no advertising expenses for the
six months ended June 30, 2019 and 2018. | |
( us-gaap:AdvertisingCostsPolicyTextBlock ) |
| |
Recently Adopted Accounting Pronouncements |
Recently
Adopted Accounting Pronouncements
We
consider the applicability and impact of all Accounting Standards Updates (“ASUs”). The ASUs not listed below were
assessed and determined to be either not applicable or are expected to have minimal impact, if any, on our consolidated financial
position and/or results of operations.
In
June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of
Credit Losses on Financial Instruments (“ASU 2016-13”), which modifies the measurement of expected credit
losses on certain financial instruments. The Company will adopt ASU 2016-13 in its first quarter of 2021 utilizing the
modified retrospective transition method. The Company is still in the process of determining the impact on its consolidated
financial statements.
In
February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02 “Leases (Topic 842).”
This standard requires entities to recognize assets and liabilities on their balance sheet for the rights (right-of-use or “ROU”)
and obligations created by the leased assets. The standard is effective for fiscal years and the interim periods within those
fiscal years beginning after December 15, 2018. The guidance is required to be applied by the modified retrospective transition
approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition
relief. Early adoption is permitted. We have adopted the guidance of this standard effective December 31, 2016 and retrospectively
from the beginning of the lease term and recognized ROU assets and obligations created by these leases. As a result, $232,631
and $422,905 of ROU assets, net and leases liabilities of $396,681 and $612,125 were recorded in the accompanying consolidated
financial statements as of June 30, 2019 and December 31, 2018, respectively.
In
May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” which outlines a single
comprehensive model to use in accounting for revenue arising from contracts with customers and supersedes and replaces nearly
all existing GAAP revenue recognition guidance, including industry-specific guidance. The authoritative guidance provides a five-step
analysis of transactions to determine when and how revenue is recognized. The five steps are: (i) identify the contract with the
customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the
transaction price to the performance obligations; and (v) recognize revenue when or as each performance obligation is satisfied.
The authoritative guidance applies to all contracts with customers except those that are within the scope of other topics in the
FASB ASC. The authoritative guidance requires significantly expanded disclosures about revenue recognition and was initially effective
for fiscal years and the interim periods within these fiscal years beginning on or after December 15, 2016. In August 2015, the
FASB issued ASU 2015-14 “Revenue from Contracts with Customers (Topic 606): which deferred for one year the effective date
until fiscal years and interim periods within those fiscal years beginning after December 15, 2017. Earlier application is permitted
only as of annual reporting periods beginning after December 15, 2016 including interim reporting periods within that reporting
period. The adoption of this authoritative guidance did not have a material impact on our consolidated financial statements. | |
( us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock ) |
| |
|
(End Disclosure - Summary of Significant Accounting Policies (Policies)) |
|
Disclosure - Summary of Significant Accounting Policies (Tables) |
Disclosure - Summary of Significant Accounting Policies (Tables) (USD $) |
6 Months Ended |
( AccountingPoliciesAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Schedule of Yearly Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars |
Spot
exchange rates and average exchange rates published by fxtop.com were used in the translation of the consolidated financial statements.
| |
For
the three months ended
June 30, | | |
For
the six months ended June 30, | |
US Exchange Rate | |
2019 | | |
2018 | | |
2019 | | |
2018 | |
| |
(Unaudited) | | |
(Unaudited) | | |
(Unaudited) | | |
(Unaudited) | |
Period-end RMB | |
| 6.8704 | | |
| 6.6195 | | |
| 6.8704 | | |
| 6.6195 | |
Average RMB | |
| 6.8276 | | |
| 6.3816 | | |
| 6.7871 | | |
| 6.3701 | |
| |
| | | |
| | | |
| | | |
| | |
Period-end HK$ | |
| 7.8090 | | |
| 7.8459 | | |
| 7.8090 | | |
| 7.8459 | |
Average
HK$ | |
| 7.8400 | | |
| 7.8482 | | |
| 7.8432 | | |
| 7.8378 | | | |
( us-gaap:ScheduleOfForeignExchangeContractsStatementOfFinancialPositionTableTextBlock ) |
| |
Schedule of Ownership of Rental Properties |
The
following table summarized the ownership of rental properties.
| |
| |
%
of Total | | |
Financial
Statement Presentation |
Group | |
Description
of Property | |
SQ
Ft | | |
Assets | |
Liabilities |
A | |
Owned with title by DVPD | |
| 16 | % | |
Rental properties | |
N/A |
B | |
Sold properties with buy- back options
or return is in process without paying off | |
| 9 | % | |
Rental properties | |
Property financing agreements payable |
C* | |
Properties with buy- back options transferred
to SML in 2017 and 2018 | |
| 6 | % | |
Rental properties | |
Loan payable SML |
D | |
Sold properties | |
| 69 | % | |
N/A | |
N/A |
| |
Total properties | |
| 100 | % | |
| |
| | |
( custom:ScheduleOfOwnershipOfRentalPropertiesTableTextBlock [Extension] ) |
| |
Schedule of Basic and Diluted Loss Per Share |
There were no common stock equivalents as of June 30, 2019 and
2018.
| |
For
the Three Months Ended
June 30, | | |
For
the Six Months Ended
June 30, | |
| |
2019 | | |
2018 | | |
2019 | | |
2018 | |
| |
(Unaudited) | | |
(Unaudited) | | |
(Unaudited) | | |
(Unaudited) | |
Numerator for earnings per share: | |
| | |
| | |
| | |
| |
Net
(loss) attributable to the Company’s common shareholder | |
$ | (5,072,185 | ) | |
$ | (1,498,156 | ) | |
$ | (6,493,114 | ) | |
$ | (2,113,670 | ) |
Denominator for basic and diluted earnings
per share: | |
| | | |
| | | |
| | | |
| | |
Basic weighted average common shares* | |
| 21,711,000 | | |
| 20,700,000 | | |
| 21,230,635 | | |
| 20,700,000 | |
Diluted weighted
average common shares | |
| 21,711,000 | | |
| 20,700,000 | | |
| 21,230,635 | | |
| 20,700,000 | |
Per share amount | |
| | | |
| | | |
| | | |
| | |
Per share -
basic and diluted | |
$ | (0.23 | ) | |
$ | (0.07 | ) | |
$ | (0.31 | ) | |
$ | (0.10 | ) |
| |
( us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock ) |
| |
|
(End Disclosure - Summary of Significant Accounting Policies (Tables)) |
|
Disclosure - Prepaid Expenses and Other Assets (Tables) |
Disclosure - Prepaid Expenses and Other Assets (Tables) (USD $) |
6 Months Ended |
( custom:PrepaidExpensesAndOtherAssetsAbstract [Extension] ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Schedule of Prepaid Expenses and Other Assets |
Prepaid
expenses and other assets consist of the following:
| |
June 30, | | |
December 31, | |
| |
2019 | | |
2018 | |
| |
| (Unaudited) | | |
| | |
Supplies on hands | |
$ | 100,792 | | |
$ | 79,478 | |
Prepaid expenses | |
| 380,468 | | |
| 498,043 | |
Deposits | |
| 145,332 | | |
| 120,235 | |
Total prepaid
expenses and other assets | |
$ | 626,592 | | |
$ | 697,756 | |
| |
( us-gaap:ScheduleOfOtherCurrentAssetsTableTextBlock ) |
| |
|
(End Disclosure - Prepaid Expenses and Other Assets (Tables)) |
|
Disclosure - Rental Properties, Net (Tables) |
Disclosure - Rental Properties, Net (Tables) (USD $) |
6 Months Ended |
( custom:RentalPropertiesNetAbstract [Extension] ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Schedule of Rental Properties |
The
following table summarized ownership of rental properties.
As
of June 30, 2019
Group | |
Description
of Property | |
Cost
in US$ | | |
In
Square feet | | |
%
of Total Square feet | | |
Units | |
A | |
Owned
by DVPD | |
| 21,991,954 | | |
| 240,455 | | |
| 16 | % | |
| 433 | |
B | |
Sold
properties required to be repurchased - option exercised | |
| 11,858,431 | | |
| 130,394 | | |
| 9 | % | |
| 495 | |
C | |
Properties
with purchase back options transferred to SML - 2017 and 2018 | |
| 7,762,145 | | |
| 86,251 | | |
| 6 | % | |
| 319 | |
| |
| |
| | | |
| - | | |
| | | |
| | |
D | |
Sold
properties | |
| - | | |
| 1,023,519 | | |
| 69 | % | |
| 1,926 | |
| |
| |
| | | |
| - | | |
| | | |
| | |
| |
Rental
properties at cost | |
| 41,612,530 | | |
| 1,480,619 | | |
| 100 | % | |
| 3,173 | |
| |
Less:
Accumulated depreciation | |
| (19,532,412 | ) | |
| | | |
| | | |
| | |
| |
Rental
Properties, net | |
| 22,080,118 | | |
| | | |
| | | |
| | |
As
of December 31, 2018
Group | |
Description
of Property | |
Cost
in US$ | | |
In
Square Feet | | |
%
of Total Square feet | | |
Units | |
A | |
Owned
by DVPD | |
| 21,968,292 | | |
| 240,799 | | |
| 16 | % | |
| 434 | |
B | |
Sold
properties required to be repurchased - option exercised | |
| 11,845,672 | | |
| 130,049 | | |
| 9 | % | |
| 493 | |
C | |
Properties
with purchase back options transferred to SML - 2017 and 2018 | |
| 7,753,794 | | |
| 86,252 | | |
| 6 | % | |
| 319 | |
| |
| |
| | | |
| | | |
| | | |
| | |
D | |
Sold
properties without buy-back options | |
| - | | |
| 1,023,519 | | |
| 69 | % | |
| 1,927 | |
Rental
properties at cost | |
| 41,567,758 | | |
| 1,480,619 | | |
| 100 | % | |
| 3,173 | |
Less
depreciation | |
| (19,048,676 | ) | |
| | | |
| | | |
| | |
Property,
net reported | |
| 22,519,082 | | |
| | | |
| | | |
| | |
*
See Note 10, Property Financing Agreement Payable | |
( custom:ScheduleOfRentalPropertiesTableTextBlock [Extension] ) |
| |
Schedule of Expected Future Minimum Rents |
Expected
future minimum rents to be received over the next five years and thereafter from leases in effect as of June 30, 2019 are as follows:
For the Twelve Months Ending June
30, | |
Amount
in US$ | |
2020 | |
$ | 664,896 | |
2021 | |
| 651,177 | |
2022 | |
| 311,510 | |
2023 | |
| 13,485 | |
Total | |
$ | 1,641,068 | | | |
( custom:ScheduleOfExpectedFutureMinimumRentsTableTextBlock [Extension] ) |
| |
|
(End Disclosure - Rental Properties, Net (Tables)) |
|
Disclosure - Property and Equipment (Tables) |
Disclosure - Property and Equipment (Tables) (USD $) |
6 Months Ended |
( us-gaap:PropertyPlantAndEquipmentAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Schedule of Property and Equipment |
Property
and equipment are composed of the following:
| |
Estimated
Useful Life | |
June
30, 2019 | | |
December
31, 2018 | |
| |
| |
(Unaudited) | | |
| |
Property and equipment | |
45 years | |
$ | 221,379 | | |
$ | 221,140 | |
Office equipment | |
3-5 years | |
| 330,329 | | |
| 324,623 | |
Business machinery and equipment | |
5-10 years | |
| 2,974,707 | | |
| 2,969,180 | |
Auto | |
5 years | |
| 24,900 | | |
| 24,873 | |
Improvement | |
5-10
years | |
| 10,129,839 | | |
| 10,118,913 | |
Total
properties, machinery and equipment | |
| |
| 13,681,154 | | |
| 13,658,729 | |
Less:
accumulated depreciation and amortization | |
| |
| (13,141,091 | ) | |
| (13,024,140 | ) |
Property and
equipment, net | |
| |
$ | 540,063 | | |
$ | 634,589 | | | |
( us-gaap:PropertyPlantAndEquipmentTextBlock ) |
| |
|
(End Disclosure - Property and Equipment (Tables)) |
|
Disclosure - Intangible Assets (Tables) |
Disclosure - Intangible Assets (Tables) (USD $) |
6 Months Ended |
( GoodwillAndIntangibleAssetsDisclosureAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Schedule of Intangible Assets |
Intangible
assets consist of the software used in management. The cost and related amortization are as follows:
| |
| |
June 30, | | |
December 31, | |
| |
Estimated
Useful Life | |
2019 | | |
2018 | |
| |
| |
(Unaudited) | | |
| |
Management software | |
5 years | |
$ | 26,162 | | |
$ | 26,134 | |
Less: accumulated amortization | |
| |
| (5,671 | ) | |
| (3,051 | ) |
Intangible assets, net | |
| |
$ | 20,491 | | |
$ | 23,083 | | | |
( us-gaap:ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock ) |
| |
|
(End Disclosure - Intangible Assets (Tables)) |
|
Disclosure - Right of Use Assets (Tables) |
Disclosure - Right of Use Assets (Tables) (USD $) |
6 Months Ended |
( custom:RightOfUseAssetsAbstract [Extension] ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Schedule of Right of Use Assets |
Right
of use (“ROU”) assets consist of the followings as of June 30, 2019 and December 31, 2018:
Right
of Use Assets as of June 30, 2019 in US $
Lease Type | |
Property Group | | |
Lease Units | | |
ROU Assets | | |
Accumulated Depreciation | | |
ROU, Net | |
Financing lease | |
| B | | |
| 3 | | |
$ | 219,275 | | |
$ | (211,064 | ) | |
$ | 8,211 | |
Financing lease | |
| D | | |
| 4 | | |
| 247,997 | | |
| (247,997 | ) | |
| - | |
Operating lease - Rental | |
| | | |
| 1 | | |
| 599,642 | | |
| (375,222 | ) | |
| 224,420 | |
Total | |
| | | |
| 8 | | |
$ | 1,066,914 | | |
$ | (834,283 | ) | |
$ | 232,631 | |
Right
of Use Assets as of December 31, 2018 in US $
Lease
Type | |
Property
Group | | |
Lease
Units | | |
ROU
Assets | | |
Accumulated
Depreciation | | |
ROU,
Net | |
Financing lease | |
| B
| | |
| 4 | | |
$ | 315,067 | | |
$ | (284,848 | ) | |
$ | 30,219 | |
Financing lease | |
| D
| | |
| 4 | | |
| 247,730 | | |
| (237,948 | ) | |
| 9,782 | |
Operating lease
- Rental | |
| - | | |
| 1 | | |
| 597,889 | | |
| (214,985 | ) | |
| 382,904 | |
Total | |
| | | |
| 9 | | |
$ | 1,160,686 | | |
$ | (737,781 | ) | |
$ | 422,905 | | | |
( custom:ScheduleOfRightOfUseAssetsTableTextBlock [Extension] ) |
| |
|
(End Disclosure - Right of Use Assets (Tables)) |
|
Disclosure - Bank Loans Payable (Tables) |
Disclosure - Bank Loans Payable (Tables) (USD $) |
6 Months Ended |
( DebtDisclosureAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Schedule of Loans Payable |
The
following table sets forth the Company’s loans payable as of June 30, 2019 and December 31, 2018:
| |
June 30, | | |
December 31, | |
Harbin Bank Loans | |
2019 | | |
2018 | |
| |
(Unaudited) | | |
| |
Interest at 5.46% per annum,
payable 07/18/2027 | |
$ | 56,255,822 | | |
$ | 56,267,993 | |
Interest at 7.08% per annum, payable
07/19/2024 | |
| 4,158,627 | | |
| 4,348,878 | |
Interest at 6.50% per annum, payable
12/20/2018 | |
| 1,746,623 | | |
| 1,744,744 | |
Interest at 6.50% per annum, payable
12/20/2018 | |
| 1,601,071 | | |
| 1,599,349 | |
Interest at 6.50% per annum, payable
09/12/2019 | |
| 2,896,483 | | |
| 2,893,367 | |
Interest at 6.50%
per annum, payable 03/11/2020 | |
| 1,490,453 | | |
| - | |
Total Principal | |
| 68,149,079 | | |
| 66,854,331 | |
Less: | |
| | | |
| | |
Unamortized debt
issuance cost in connection with Harbin Bank Loans | |
| (368,291 | ) | |
| (395,397 | ) |
Total Bank Loans
Payable | |
$ | 67,780,788 | | |
$ | 66,458,934 | | | |
( us-gaap:ScheduleOfDebtTableTextBlock ) |
| |
Schedule of Debt Maturity of Outstanding Bank Loan |
As
of June 30, 2019, scheduled maturities of the Company’s outstanding bank loans were as follows:
Twelve Months Ended June 30, | |
| |
2020 | |
$ | 56,255,822 | |
2021 | |
| 4,158,627 | |
2022 | |
| 1,746,623 | |
2023 | |
| 1,601,071 | |
2024 | |
| 2,896,483 | |
Thereafter | |
| 1,490,453 | |
Total debt maturities | |
| 68,149,079 | |
Less: | |
| | |
Net unamortized debt issuance costs | |
| (368,291 | ) |
Total debt obligations | |
$ | 67,780,788 | |
| |
( us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock ) |
| |
|
(End Disclosure - Bank Loans Payable (Tables)) |
|
Disclosure - Property Financing Agreements Payable (Tables) |
Disclosure - Property Financing Agreements Payable (Tables) (USD $) |
6 Months Ended |
( custom:PropertyFinancingAgreementPayableAbstract [Extension] ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Schedule of Detailed Information on Property Financing Agreement Payable |
Property
financing agreements payable consists of the following as of June 30, 2019 and December 31, 2018.
| |
June 30, | | |
December 31, | |
| |
2019 | | |
2018 | |
| |
(Unaudited) | | |
| |
Buy-back
financing agreements | |
$ | 46,535,950 | | |
$ | 46,438,364 | |
SML financing agreements | |
| 34,816,640 | | |
| 33,529,953 | |
Net unamortized
SML financing cost | |
| (45,011 | ) | |
| (63,697 | ) |
Total property
financing agreements, net | |
$ | 81,307,579 | | |
$ | 79,904,620 | | | |
( custom:ScheduleOfDetailedInformationOnPropertyFinancingAgreementPayableTableTextBlock [Extension] ) |
| |
Schedule of Property Buy-back Financing Agreements Payable |
Detailed
information on property buy-back financing agreements payable in group B as of June 30, 2019 and December 31, 2018 as follows.
| |
Units | | |
Square
Feet | | |
Selling
Price | | |
Buy-Back
Price | | |
Property
Financing Agreement Payable | |
| |
| | |
| | |
| | |
| | |
| |
June 30, 2019 | |
| | | |
| | | |
| | | |
| | | |
| | |
Effective agreements | |
| 7 | | |
| 2,454 | | |
| 867,155 | | |
| 1,184,997 | | |
| 1,145,031 | |
Past due agreements | |
| 486 | | |
| 127,552 | | |
| 37,236,507 | | |
| 45,386,804 | | |
| 45,390,919 | |
Total financing
agreements | |
| 493 | | |
| 130,006 | | |
| 38,103,662 | | |
| 46,571,801 | | |
| 46,535,950 | |
| |
| | | |
| | | |
| | | |
| | | |
| | |
December 31, 2018 | |
| | | |
| | | |
| | | |
| | | |
| | |
Effective agreements | |
| 14 | | |
| 5,047 | | |
$ | 1,765,972 | | |
$ | 2,501,614 | | |
$ | 2,420,513 | |
Past due agreements | |
| 479 | | |
| 124,959 | | |
| 36,322,719 | | |
| 44,030,955 | | |
| 44,017,851 | |
Total financing
agreements | |
| 493 | | |
| 130,006 | | |
| 38,088,691 | | |
| 46,532,569 | | |
| 46,438,364 | | | |
( custom:ScheduleOfPropertyBuybackFinancingAgreementPayableTableTextBlock [Extension] ) |
| |
Schedule of Maturity for Financing Agreement Payable |
Following
table set forth the expiration of buy-back options (group B properties) and the buy-back amount.
Future
Expiration | |
Units | |
Amount | |
Past due as of 06/30/2019 | |
486 | |
$ | 45,386,804 | |
6/30/2020 | |
3 | |
| 561,408 | |
6/30/2021 | |
2 | |
| 367,067 | |
6/30/2022 | |
2 | |
| 256,522 | |
6/30/2023 | |
- | |
| - | |
Total | |
493 | |
$ | 46,571,801 | | | |
( custom:ScheduleOfMaturityForFinacingAgreementPayableTableTextBlock [Extension] ) |
| |
Schedule of Financing Agreements |
Amounts
under the SML Agreement as of June 30, 2019 and December 31, 2018 consist of following:
| |
June
30,
2019 | | |
December
31,
2018 | |
Buy-back related cases: including historical buy-back remaining balance | |
$ | 27,024,862 | | |
$ | 26,995,786 | |
Lease-back related cases: including historical lease-back payable remaining balance | |
| 4,073,465 | | |
| 4,069,082 | |
Accrued interest payable to SML | |
| 3,718,313 | | |
| 2,465,085 | |
Total SML financing agreements | |
$ | 34,816,640 | | |
$ | 33,529,953 | | | |
( custom:ScheduleOfFinancingAgreementsTableTextBlock [Extension] ) |
| |
|
(End Disclosure - Property Financing Agreements Payable (Tables)) |
|
Disclosure - Account Payable and Accrued Liabilities (Tables) |
Disclosure - Account Payable and Accrued Liabilities (Tables) (USD $) |
6 Months Ended |
( PayablesAndAccrualsAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Schedule of Account Payable and Accrued Liabilities |
Accounts
payable and accrued liabilities consist of the following:
| |
June 30, | | |
December 31, | |
| |
2019 | | |
2018 | |
| |
(Unaudited) | | |
| |
Accounts payable | |
$ | 3,307,973 | | |
$ | 2,839,967 | |
Wages and employee benefit payable | |
| 511,121 | | |
| 370,151 | |
Taxes payable* | |
| 853,173 | | |
| 584,693 | |
VAT payable | |
| 659,638 | | |
| 455,962 | |
Bank loan interest
payable | |
| 1,310,181 | | |
| 496,831 | |
Total accounts
payable and accrued liabilities | |
$ | 6,642,086 | | |
$ | 4,747,604 | |
*
Taxes payable consist of the following:
| |
June 30, | | |
December 31, | |
| |
2019 | | |
2018 | |
| |
(Unaudited) | | |
| |
Individual income taxes | |
$ | 25,773 | | |
$ | 30,674 | |
Business taxes | |
| 161,964 | | |
| 136,725 | |
Property and land use taxes | |
| 392,996 | | |
| 253,226 | |
Tax
penalties | |
| 183,955 | | |
| 90,473 | |
Other surcharge
and fees | |
| 88,485 | | |
| 73,595 | |
Total | |
$ | 853,173 | | |
$ | 584,693 | | | |
( us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock ) |
| |
|
(End Disclosure - Account Payable and Accrued Liabilities (Tables)) |
|
Disclosure - Lease Liabilities (Tables) |
Disclosure - Lease Liabilities (Tables) (USD $) |
6 Months Ended |
( us-gaap:LeasesAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Schedule of Lease Liabilities Payable |
Leases
liabilities consisted of following as of June 30, 2019.
Lease Type | |
Property
Group | |
Lease
Units | |
Lease
Payable | |
Financing lease | |
B | |
3 | |
$ | 127,005 | |
Financing lease | |
D | |
4 | |
| 27,943 | |
Operating lease | |
Office rent | |
1 | |
| 241,733 | |
Total | |
| |
8 | |
$ | 396,681 | |
Leases
liabilities consisted of following as of December 31, 2018.
Lease Type | |
Property
Group | |
Lease
Units | |
Lease
Payable | |
Financing lease | |
B | |
4 | |
$ | 176,902 | |
Financing lease | |
D | |
4 | |
| 38,878 | |
Operating lease | |
Office rent | |
1 | |
| 396,345 | |
Total | |
| |
9 | |
$ | 612,125 | | | |
( us-gaap:ScheduleOfRentExpenseTableTextBlock ) |
| |
Schedule of Future Minimum Lease Payables |
Future
minimum lease-back payables at June 30, 2019 were as follows:
For the Twelve Months
Ending | |
Lease
Units* | |
Square
Feet | |
Minimum
Lease Payable | |
June 30, 2020 | |
7 | |
1,485 | |
$ | 17,046 | |
June 30, 2021 | |
2 | |
108 | |
| 461 | |
Total future
minimum lease payable | |
| |
| |
$ | 17,507 | |
*
Lease units represent total leases during the periods | |
( custom:ScheduleOfFutureMinimumLeasePayableTableTextBlock [Extension] ) |
| |
Schedule of Operating Lease for Future Minimum Rental Payments |
Sino
Pride leases office space under an operating lease agreement which will expire on March 26, 2020. The future minimum rental payments
are as follows:
Twelve Months Ended
June 30, | |
| 243,115 | |
2020 | |
$ | 243,115 | |
| |
( us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock ) |
| |
|
(End Disclosure - Lease Liabilities (Tables)) |
|
Disclosure - Other Payables (Tables) |
Disclosure - Other Payables (Tables) (USD $) |
6 Months Ended |
( OtherLiabilitiesDisclosureAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Schedule of Other Payable |
Other
payables consist of the following:
| |
June 30, | | |
December 31, | |
| |
2019 | | |
2018 | |
| |
(Unaudited) | | |
| |
Tenants
deposits payable | |
$ | 2,674,775 | | |
$ | 2,652,706 | |
Tenants escrow account | |
| 830,101 | | |
| 1,607,935 | |
Guaranteed rent payable | |
| 286,702 | | |
| 286,394 | |
Expired lease-back payable | |
| 5,520,308 | | |
| 5,456,883 | |
Buy-back payable | |
| 4,207,403 | | |
| 4,186,382 | |
Accrued liabilities for additional
payable from litigation | |
| 4,805,518 | | |
| 4,800,348 | |
Union, housing,
heating and others | |
| 751,690 | | |
| 604,227 | |
Total Other Payables | |
$ | 19,076,497 | | |
$ | 19,594,875 | | | |
( us-gaap:OtherLiabilitiesTableTextBlock ) |
| |
|
(End Disclosure - Other Payables (Tables)) |
|
Disclosure - Related Party Transactions (Tables) |
Disclosure - Related Party Transactions (Tables) (USD $) |
6 Months Ended |
( us-gaap:RelatedPartyTransactionsAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Schedule of Loan Payable to Related Party |
Loan
payable to related party consists of following as of June 30, 2019 and December 31, 2018:
| |
June
30, 2019 | | |
December
31, 2018 | |
| |
(Unaudited) | | |
| |
Loan payable to DVDC | |
$ | 10,735,328 | | |
$ | 10,723,778 | |
Due to related
individual | |
| 832,367 | | |
| 792,502 | |
Loan payable
to related parties | |
$ | 11,567,695 | | |
$ | 11,516,280 | | | |
( custom:ScheduleOfLoanPayableRelatedParty [Extension] ) |
| |
Schedule of Loan Payable to DVDC |
Loan
payable to DVDC consists of following at June 30, 2019 and December 31, 2018.
| |
June
30, 2019 | | |
December
31, 2018 | |
| |
(Unaudited) | | |
| |
Loan principal | |
$ | 13,200,000 | | |
$ | 13,200,000 | |
Advance payments for infrastructure
construction | |
| (5,685,747 | ) | |
| (5,685,747 | ) |
Other payable
to DVDC | |
| 215,136 | | |
| 215,136 | |
Net loan payable to DVDC | |
| 7,729,389 | | |
| 7,729,389 | |
Foreign exchange
effect | |
| 3,005,939 | | |
| 2,994,389 | |
Net loan payable
to DVDC | |
$ | 10,735,328 | | |
$ | 10,723,778 | | | |
( custom:ScheduleOfLoanPayableTableTextBlock [Extension] ) |
| |
Schedule of Loan, Repayments and Accrued Interest to Sino Pride |
Loans,
repayments and accrued interest payable to Sino Pride as of June 30, 2019 are as followed:
Loan Payable to Sino Pride | |
| | |
Loan balance at December 31, 2017 | |
$ | 13,503,748 | |
Repayment in
2018 | |
| (200,000 | ) |
Loan balance at December 31, 2018 | |
| 13,303,748 | |
Repayment in the six months ended
June 30, 2019 | |
| - | |
Loan balance at June 30, 2019 | |
$ | 13,303,748 | |
| |
| | |
Interest Payable to Sino Pride | |
| | |
Interest payable at 12/31/2017 | |
$ | 7,451,973 | |
Accrued
interest in 2018 | |
| 1,079,968 | |
Repayment in
2018 | |
| - | |
Interest payable at December 31, 2018 | |
| 8,531,941 | |
Accrued interest
in the six months ended June 30, 2019 | |
| 539,542 | |
Repayment in the six months ended
June 30, 2019 | |
| - | |
Interest payable at June 30, 2019 | |
$ | 9,071,483 | | | |
( us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock ) |
| |
|
(End Disclosure - Related Party Transactions (Tables)) |
|
Disclosure - Income Taxes (Tables) |
Disclosure - Income Taxes (Tables) (USD $) |
6 Months Ended |
( IncomeTaxDisclosureAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Schedule of Deferred Tax Assets |
At
June 30, 2019 and December 31, 2018, deferred tax assets consisted of:
| |
June 30, | | |
December 31, | |
| |
2019 | | |
2018 | |
| |
(Unaudited) | | |
| |
Net
operating loss carry forwards | |
| | | |
| | |
Foreign operations | |
$ | 14,410,888 | | |
$ | 18,153,562 | |
US Operations | |
| 416,474 | | |
| 242,670 | |
Valuation allowance | |
| (14,827,362 | ) | |
| (18,396,232 | ) |
Deferred tax
assets - net | |
$ | - | | |
$ | - | |
| |
( us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock ) |
| |
Schedule of Provisions for Income Taxes |
The
provisions for income taxes for the three months and six months ended June 30, 2019 and 2018 are summarized as follows:
| |
June 30, | | |
June 30, | |
| |
2019 | | |
2018 | |
| |
(Unaudited) | | |
(Unaudited) | |
Current | |
$ | - | | |
$ | - | |
Deferred | |
| 1,815,795 | | |
| 642,952 | |
Change in valuation
allowance | |
| (1,815,795 | ) | |
| (642,952 | ) |
Total | |
$ | - | | |
$ | - | | | |
( us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock ) |
| |
Schedule of Effective Income Tax Rate Reconciliation |
The
reconciliation of the Company’s effective tax rate as a percentage of income before taxes and Federal statutory rates for
the three months ended June 30, 2019 and 2018, respectively, is as follows:
China | |
June
30,
2019 | | |
June
30,
2018 | |
US statutory tax rate | |
| 21.00 | % | |
| 21.00 | % |
Tax rate difference | |
| 4.00 | % | |
| 4.00 | % |
Changes in valuation
allowance | |
| -25.00 | % | |
| -25.00 | % |
Effective rate | |
| 0.00 | % | |
| 0.00 | % |
| |
| | | |
| | |
Hong Kong | |
| June
30,
2019 | | |
| June
30,
2018 | |
US statutory tax rate | |
| 21.00 | % | |
| 21.00 | % |
Tax rate difference | |
| -4.50 | % | |
| -4.50 | % |
Changes in valuation
allowance | |
| -16.50 | % | |
| -16.50 | % |
Effective rate | |
| 0.00 | % | |
| 0.00 | % | | |
( us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock ) |
| |
|
(End Disclosure - Income Taxes (Tables)) |
|
Disclosure - Non-Controlling Interest (Tables) |
Disclosure - Non-Controlling Interest (Tables) (USD $) |
6 Months Ended |
( NoncontrollingInterestAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Schedule of Non-Controlling Interest |
| |
June
30, 2019 | | |
December
31, 2018 | |
| |
(Unaudited) | | |
| |
Non-controlling interest
at beginning of the period | |
$ | (43,368,813 | ) | |
$ | (43,268,669 | ) |
Net loss | |
| (778,625 | ) | |
| (971,370 | ) |
Change in foreign
currency translation adjustment | |
| 853,304 | | |
| 1,997,942 | |
Non-controlling
interest at the end of the period | |
$ | (43,294,134 | ) | |
$ | (42,242,097 | ) |
| |
( us-gaap:ScheduleOfVariableInterestEntitiesTextBlock ) |
| |
|
(End Disclosure - Non-Controlling Interest (Tables)) |
|
Disclosure - Commitments and Contingencies (Tables) |
Disclosure - Commitments and Contingencies (Tables) (USD $) |
6 Months Ended |
( CommitmentsAndContingenciesDisclosureAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Schedule of Operating Lease for Future Minimum Rental Payments |
Sino
Pride leases office space under an operating lease agreement which will expire on March 26, 2020. The future minimum rental payments
are as follows:
Twelve Months Ended
June 30, | |
| 243,115 | |
2020 | |
$ | 243,115 | |
| |
( us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock ) |
| |
|
(End Disclosure - Commitments and Contingencies (Tables)) |
|
Disclosure - Subsequent Events (Tables) |
Disclosure - Subsequent Events (Tables) (USD $) |
6 Months Ended |
( SubsequentEventsAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Schedule of Claims of Lawsuits |
Claims
of Lawsuits as of August 6, 2019
|
|
Store
Unit |
|
|
Square
Feet |
|
|
Contract
Amount in US$ |
|
Property
buy- back related issues |
|
|
241 |
|
|
|
51,870 |
|
|
$ |
19,821,479 |
|
Leases
and leases back related issues |
|
|
239 |
|
|
|
47,721 |
|
|
|
2,803,442 |
|
Other
issues |
|
|
71 |
|
|
|
13,019 |
|
|
|
1,724,331 |
|
Total |
|
|
551 |
|
|
|
112,610 |
|
|
$ |
24,349,252 |
| | |
( us-gaap:LegalMattersAndContingenciesTextBlock ) |
| |
Schedule of Settlement of Cases |
As
of August 6, 2019, the Company settled the following cases.
Resolved cases as of August
6, 2019 | |
Total
Resolved Cases | | |
Cases
Resolved in the Six Months Ended June 30, 2019 | | |
Resolved
after June 30, 2019 | |
Property buy- back related
issues | |
| 214 | | |
| 159 | | |
| - | |
Leases and leases back related issues | |
| 215 | | |
| 111 | | |
| 2 | |
Other issues | |
| 54 | | |
| 41 | | |
| 2 | |
Total resolved
cases | |
| 483 | | |
| 311 | | |
| 4 | | | |
( us-gaap:ScheduleOfLossContingenciesByContingencyTextBlock ) |
| |
|
(End Disclosure - Subsequent Events (Tables)) |
|
Disclosure - Organization and Segment Information (Details Narrative) |
Disclosure - Organization and Segment Information (Details Narrative) (USD $) |
|
|
|
|
|
|
( us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Sep. 12, 2000 |
Sep. 12, 2000 |
( us-gaap:BusinessAcquisitionAxis ) |
|
|
|
|
|
|
|
Sino Pride Development Limited [Member] Dalian Victory Plaza Development Co, Ltd [Member] |
Sino Pride Development Limited [Member] Dalian Victory Business Management Co., Ltd. [Member] |
Sino Pride Development Limited [Member] |
Dalian Victory Plaza Development Co, Ltd [Member] |
Sino Pride Development Limited [Member] Dalian Victory Business Management Co., Ltd. [Member] |
Dalian Victory Plaza Development Co, Ltd [Member] Dalian Victory Business Management Co., Ltd. [Member] |
( us-gaap:BusinessAcquisitionAcquireeDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Equity ownership interest, percentage |
0.80 | |
0.95 | |
0.80 | |
0.20 | |
0.95 | |
0.05 | |
( us-gaap:EquityMethodInvestmentOwnershipPercentage ) |
| |
| |
| |
| |
| |
| |
Equity ownership percentage description |
| |
| |
| |
| |
| |
| |
( custom:EquityOwnershipPercentageDescription [Extension] ) |
| |
| |
| |
| |
| |
| |
Number of shares acquired |
| |
| |
| |
| |
| |
| |
( us-gaap:BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued ) |
| |
| |
| |
| |
| |
| |
Outstanding loan |
| |
| |
| |
| |
| |
| |
( custom:OutstandingLoan [Extension] ) |
| |
| |
| |
| |
| |
| |
Business acquired consideration transferred, description |
| |
| |
| |
| |
| |
| |
( us-gaap:BusinessAcquisitionDescriptionOfAcquiredEntity ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Organization and Segment Information (Details Narrative) (USD $) |
|
|
8 Months Ended |
1 Month Ended |
|
|
( us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract ) |
|
|
|
|
|
|
|
Jun. 6, 2018 |
Jun. 30, 2017 |
Jun. 30, 2017 |
Nov. 30, 2016 |
Nov. 30, 2016 |
Nov. 30, 2016 |
( us-gaap:BusinessAcquisitionAxis ) |
|
|
|
|
|
|
|
Sino Pride Development Limited [Member] Dalian Victory Plaza Development Co, Ltd [Member] |
Alex Brown [Member] |
Iven International Group Limited [Member] |
Assignment of Common Stocks and Debt Rights [Member] Sino Pride Development Limited [Member] |
Assignment of Common Stocks and Debt Rights [Member] Sino Pride Development Limited [Member] |
Mr. Brown. Iven [Member] |
( us-gaap:BusinessAcquisitionAcquireeDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Equity ownership interest, percentage |
1.00 | |
1.00 | |
| |
| |
| |
1.00 | |
( us-gaap:EquityMethodInvestmentOwnershipPercentage ) |
| |
| |
| |
| |
| |
| |
Equity ownership percentage description |
| |
| |
Alex Brown beneficially owned 100% of Iven, among which, a 70% equity interest was held directly, and a 30% equity interest was held indirectly through Dalian Yiwen New Materials Technology Development Co., Ltd, a PRC entity 80% owned by Alex Brown and 20% owned by his spouse. | |
| |
| |
| |
( custom:EquityOwnershipPercentageDescription [Extension] ) |
| |
| |
| |
| |
| |
| |
Number of shares acquired |
| |
| |
| |
30,000,000 | |
| |
| |
( us-gaap:BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued ) |
| |
| |
| |
| |
| |
| |
Outstanding loan |
| |
| |
| |
| |
52,750,000 | |
| |
( custom:OutstandingLoan [Extension] ) |
| |
| |
| |
| |
| |
| |
Business acquired consideration transferred, description |
| |
| |
| |
HK$ 1 (approximately US$0.13) from VP Holding | |
| |
| |
( us-gaap:BusinessAcquisitionDescriptionOfAcquiredEntity ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Organization and Segment Information (Details Narrative) (USD $) |
0 Months Ended |
|
|
|
|
( us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract ) |
|
|
|
|
|
|
Sep. 4, 2017 |
Sep. 4, 2017 |
Sep. 4, 2017 |
Sep. 4, 2017 |
Sep. 4, 2017 |
( us-gaap:BusinessAcquisitionAxis ) |
|
|
|
|
|
|
Assignment of All Outstanding Shares and All Debt Right Agreement [Member] |
Assignment of All Outstanding Shares and All Debt Right Agreement [Member] Sino Pride Development Limited [Member] HKD Currency [Member] |
Assignment of All Outstanding Shares and All Debt Right Agreement [Member] Sino Pride Development Limited [Member] |
Assignment of All Outstanding Shares and All Debt Right Agreement [Member] Iven International Group Limited [Member] HKD Currency [Member] |
Assignment of All Outstanding Shares and All Debt Right Agreement [Member] Iven International Group Limited [Member] |
( us-gaap:BusinessAcquisitionAcquireeDomain ) |
|
|
|
|
|
|
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
Equity ownership interest, percentage |
| |
| |
| |
| |
| |
( us-gaap:EquityMethodInvestmentOwnershipPercentage ) |
| |
| |
| |
| |
| |
Equity ownership percentage description |
| |
| |
| |
| |
| |
( custom:EquityOwnershipPercentageDescription [Extension] ) |
| |
| |
| |
| |
| |
Number of shares acquired |
30,000,000 | |
| |
| |
| |
| |
( us-gaap:BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued ) |
| |
| |
| |
| |
| |
Outstanding loan |
| |
493,907,633 | |
64,208,000 | |
408,409,628 | |
53,093,000 | |
( custom:OutstandingLoan [Extension] ) |
| |
| |
| |
| |
| |
Business acquired consideration transferred, description |
HK$ 1 (approximately US$0.13) from Iven | |
| |
| |
| |
| |
( us-gaap:BusinessAcquisitionDescriptionOfAcquiredEntity ) |
| |
| |
| |
| |
| |
|
(End Disclosure - Organization and Segment Information (Details Narrative)) |
|
Disclosure - Going Concern (Details Narrative) |
Disclosure - Going Concern (Details Narrative) (USD $) |
3 Months Ended |
6 Months Ended |
|
6 Months Ended |
( us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract ) |
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2019 |
( us-gaap:AwardTypeAxis ) |
|
|
|
|
|
|
|
|
|
|
|
|
RMB [Member] |
( us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain ) |
|
|
|
|
|
|
Net loss |
(5,850,810 | ) |
(1,786,405 | ) |
(7,516,742 | ) |
(2,678,337 | ) |
| |
| |
( us-gaap:ProfitLoss ) |
| |
| |
| |
| |
| |
| |
Accumulated deficit |
| |
| |
| |
| |
(200,681,750 | ) |
| |
( us-gaap:RetainedEarningsAccumulatedDeficit ) |
| |
| |
| |
| |
| |
| |
Unrestricted cash balance |
| |
| |
| |
| |
120,375 | |
| |
( us-gaap:RestrictedCashAndCashEquivalents ) |
| |
| |
| |
| |
| |
| |
Financing agreement payable |
| |
| |
| |
| |
81,307,579 | |
| |
( us-gaap:FinancialServicesLiabilities ) |
| |
| |
| |
| |
| |
| |
Lease liability payable |
| |
| |
| |
| |
396,681 | |
| |
( us-gaap:CapitalLeaseObligations ) |
| |
| |
| |
| |
| |
| |
Expired lease-back payables |
| |
| |
| |
| |
5,520,308 | |
| |
( custom:ExpiredLeasebackPayable [Extension] ) |
| |
| |
| |
| |
| |
| |
Buy-back of payables |
| |
| |
| |
| |
4,207,203 | |
| |
( custom:BuyBackOfPayable [Extension] ) |
| |
| |
| |
| |
| |
| |
Number of lawsuits litigation cases |
| |
| |
543 | |
| |
| |
| |
( custom:NumberOfLawsuitsLitigationCases [Extension] ) |
| |
| |
| |
| |
| |
| |
Litigation payable |
| |
| |
24,586,713 | |
| |
| |
168,920,550 | |
( us-gaap:LitigationSettlementExpense ) |
| |
| |
| |
| |
| |
| |
Accrued liability |
| |
| |
| |
| |
4,805,518 | |
| |
( us-gaap:AccruedLiabilitiesCurrentAndNoncurrent ) |
| |
| |
| |
| |
| |
| |
Attorney fees |
3,550 | |
31,784 | |
3,550 | |
98,218 | |
| |
| |
( us-gaap:LegalFees ) |
| |
| |
| |
| |
| |
| |
Equity ownership interest, percentage |
| |
| |
| |
| |
| |
| |
( us-gaap:EquityMethodInvestmentOwnershipPercentage ) |
| |
| |
| |
| |
| |
| |
Estimated financing payables on lease |
| |
| |
| |
| |
96,237,289 | |
| |
( custom:EstimatedFinancingPayablesOnLease [Extension] ) |
| |
| |
| |
| |
| |
| |
Area of land |
| |
| |
| |
| |
| |
| |
( us-gaap:AreaOfLand ) |
| |
| |
| |
| |
| |
| |
Continue going concern descriptions |
| |
| |
In order to continue as a going concern, the Company will need, among other things, additional capital resources. Managementâs plans to obtain such resources for the Company include (1) obtaining capital from the sale of its equity securities (2) short-term and long-term borrowings from banks and third-parties, and (3) short-term borrowings from stockholders or other related parties when needed. However, management cannot provide any assurance that the Company will be successful in accomplishing any of its plans. | |
| |
| |
| |
( us-gaap:SubstantialDoubtAboutGoingConcernConditionsOrEvents ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Going Concern (Details Narrative) (USD $) |
|
|
( us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract ) |
|
|
|
Jun. 30, 2019 |
Dec. 31, 2017 |
( us-gaap:AwardTypeAxis ) |
|
|
|
Dalian Victory Plaza Development Co, Ltd [Member] March 2, 2017 to March 1, 2019 [Member] |
Dalian Victory Plaza Development Co, Ltd [Member] |
( us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain ) |
|
|
Net loss |
| |
| |
( us-gaap:ProfitLoss ) |
| |
| |
Accumulated deficit |
| |
| |
( us-gaap:RetainedEarningsAccumulatedDeficit ) |
| |
| |
Unrestricted cash balance |
| |
| |
( us-gaap:RestrictedCashAndCashEquivalents ) |
| |
| |
Financing agreement payable |
| |
| |
( us-gaap:FinancialServicesLiabilities ) |
| |
| |
Lease liability payable |
| |
| |
( us-gaap:CapitalLeaseObligations ) |
| |
| |
Expired lease-back payables |
| |
| |
( custom:ExpiredLeasebackPayable [Extension] ) |
| |
| |
Buy-back of payables |
| |
| |
( custom:BuyBackOfPayable [Extension] ) |
| |
| |
Number of lawsuits litigation cases |
| |
| |
( custom:NumberOfLawsuitsLitigationCases [Extension] ) |
| |
| |
Litigation payable |
| |
| |
( us-gaap:LitigationSettlementExpense ) |
| |
| |
Accrued liability |
| |
| |
( us-gaap:AccruedLiabilitiesCurrentAndNoncurrent ) |
| |
| |
Attorney fees |
| |
| |
( us-gaap:LegalFees ) |
| |
| |
Equity ownership interest, percentage |
0.05 | |
| |
( us-gaap:EquityMethodInvestmentOwnershipPercentage ) |
| |
| |
Estimated financing payables on lease |
| |
| |
( custom:EstimatedFinancingPayablesOnLease [Extension] ) |
| |
| |
Area of land |
| |
293 | |
( us-gaap:AreaOfLand ) |
| |
| |
Continue going concern descriptions |
| |
| |
( us-gaap:SubstantialDoubtAboutGoingConcernConditionsOrEvents ) |
| |
| |
|
(End Disclosure - Going Concern (Details Narrative)) |
|
Disclosure - Summary of Significant Accounting Policies (Details Narrative) |
Disclosure - Summary of Significant Accounting Policies (Details Narrative) (USD $) |
6 Months Ended |
12 Months Ended |
3 Months Ended |
6 Months Ended |
( us-gaap:AccountingPoliciesAbstract ) |
|
|
|
|
|
Jun. 30, 2019 |
Dec. 31, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2018 |
Jun. 30, 2019 |
( srt:RangeAxis ) |
|
|
|
|
|
|
|
|
|
|
|
|
Minimum [Member] |
( srt:RangeMember ) |
|
|
|
|
|
|
Cumulative translation adjustment and effect of exchange rate changes on cash |
(4,014,401 | ) |
(3,739,981 | ) |
| |
| |
| |
| |
( us-gaap:EffectOfExchangeRateOnCash ) |
| |
| |
| |
| |
| |
| |
Gain loss from foreign currency transactions |
18,358 | |
| |
(524,372 | ) |
(1,103,927 | ) |
(378,877 | ) |
| |
( us-gaap:ForeignCurrencyTransactionGainLossRealized ) |
| |
| |
| |
| |
| |
| |
Description on rental properties |
Our Victory Plaza currently has 3,173 rental units. Among these rental properties, the Company owned 434 units, 812 units were sold but with buy-back options, and 1,927 units were sold with no options. The Company will lease back part of these sold properties at the ownerâs will and rent out to tenants. As of June 30, 2019, and December 31, 2018, the Company had 7 and 8 lease-back units, respectively. | |
| |
| |
| |
| |
| |
( custom:DescriptionOnRentalProperties [Extension] ) |
| |
| |
| |
| |
| |
| |
Property management fee income |
| |
| |
| |
| |
| |
17 | |
( us-gaap:PropertyManagementFeeRevenue ) |
| |
| |
| |
| |
| |
| |
Percentage on ownership of rental properties |
| |
| |
| |
| |
| |
| |
( custom:PercentageOnOwnershipOfRentalProperties [Extension] ) |
| |
| |
| |
| |
| |
| |
Number of outstanding leases |
| |
| |
| |
| |
| |
| |
( custom:NumberOfOutstandingLeases [Extension] ) |
| |
| |
| |
| |
| |
| |
Lease payments description |
The present value of the sum of the lease payments and any residual value guaranteed by the lessee that is not already reflected in the lease payments equals or exceeds substantially all (90% or more) of the fair value of the underlying asset | |
| |
| |
| |
| |
| |
( us-gaap:LesseeFinanceLeaseDescription ) |
| |
| |
| |
| |
| |
| |
Allowance for doubtful account |
| |
| |
| |
| |
| |
| |
( us-gaap:AllowanceForDoubtfulAccountsReceivable ) |
| |
| |
| |
| |
| |
| |
Impairment loss |
— | |
| |
— | |
— | |
— | |
| |
( us-gaap:AssetImpairmentCharges ) |
| |
| |
| |
| |
| |
| |
Amortization of debt issuance costs |
27,870 | |
| |
13,930 | |
14,902 | |
— | |
| |
( us-gaap:AmortizationOfFinancingCosts ) |
| |
| |
| |
| |
| |
| |
Non-controlling percentage |
| |
| |
| |
| |
| |
| |
( us-gaap:MinorityInterestOwnershipPercentageByParent ) |
| |
| |
| |
| |
| |
| |
Advertising expenses |
— | |
| |
| |
| |
— | |
| |
( us-gaap:AdvertisingExpense ) |
| |
| |
| |
| |
| |
| |
ROU assets, net |
| |
| |
| |
| |
| |
| |
( us-gaap:OperatingLeaseRightOfUseAsset ) |
| |
| |
| |
| |
| |
| |
Lease liability payable |
| |
| |
| |
| |
| |
| |
( us-gaap:CapitalLeaseObligations ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Summary of Significant Accounting Policies (Details Narrative) (USD $) |
12 Months Ended |
|
( us-gaap:AccountingPoliciesAbstract ) |
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Dec. 31, 2018 |
Jun. 30, 2019 |
( srt:RangeAxis ) |
|
|
|
|
|
|
|
Maximum [Member] |
Group B and C Properties [Member] Unrelated Individuals and Entities [Member] |
Group D Properties [Member] Unrelated Individuals and Entities [Member] |
Group D Properties [Member] |
Group D Properties [Member] |
|
( srt:RangeMember ) |
|
|
|
|
|
|
Cumulative translation adjustment and effect of exchange rate changes on cash |
| |
| |
| |
| |
| |
| |
( us-gaap:EffectOfExchangeRateOnCash ) |
| |
| |
| |
| |
| |
| |
Gain loss from foreign currency transactions |
| |
| |
| |
| |
| |
| |
( us-gaap:ForeignCurrencyTransactionGainLossRealized ) |
| |
| |
| |
| |
| |
| |
Description on rental properties |
| |
| |
| |
| |
| |
| |
( custom:DescriptionOnRentalProperties [Extension] ) |
| |
| |
| |
| |
| |
| |
Property management fee income |
20 | |
| |
| |
| |
| |
| |
( us-gaap:PropertyManagementFeeRevenue ) |
| |
| |
| |
| |
| |
| |
Percentage on ownership of rental properties |
| |
0.16 | |
0.69 | |
| |
| |
| |
( custom:PercentageOnOwnershipOfRentalProperties [Extension] ) |
| |
| |
| |
| |
| |
| |
Number of outstanding leases |
| |
| |
| |
4 | |
4 | |
| |
( custom:NumberOfOutstandingLeases [Extension] ) |
| |
| |
| |
| |
| |
| |
Lease payments description |
| |
| |
| |
| |
| |
| |
( us-gaap:LesseeFinanceLeaseDescription ) |
| |
| |
| |
| |
| |
| |
Allowance for doubtful account |
| |
| |
| |
| |
| |
806,098 | |
( us-gaap:AllowanceForDoubtfulAccountsReceivable ) |
| |
| |
| |
| |
| |
| |
Impairment loss |
| |
| |
| |
| |
| |
| |
( us-gaap:AssetImpairmentCharges ) |
| |
| |
| |
| |
| |
| |
Amortization of debt issuance costs |
| |
| |
| |
| |
| |
| |
( us-gaap:AmortizationOfFinancingCosts ) |
| |
| |
| |
| |
| |
| |
Non-controlling percentage |
| |
| |
| |
| |
| |
| |
( us-gaap:MinorityInterestOwnershipPercentageByParent ) |
| |
| |
| |
| |
| |
| |
Advertising expenses |
| |
| |
| |
| |
| |
| |
( us-gaap:AdvertisingExpense ) |
| |
| |
| |
| |
| |
| |
ROU assets, net |
| |
| |
| |
| |
| |
232,631 | |
( us-gaap:OperatingLeaseRightOfUseAsset ) |
| |
| |
| |
| |
| |
| |
Lease liability payable |
| |
| |
| |
| |
| |
396,681 | |
( us-gaap:CapitalLeaseObligations ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Summary of Significant Accounting Policies (Details Narrative) (USD $) |
|
|
( us-gaap:AccountingPoliciesAbstract ) |
|
|
|
Dec. 31, 2018 |
Jun. 30, 2019 |
( srt:RangeAxis ) |
|
|
|
|
Dalian Victory Plaza Development Co, Ltd [Member] |
( srt:RangeMember ) |
|
|
Cumulative translation adjustment and effect of exchange rate changes on cash |
| |
| |
( us-gaap:EffectOfExchangeRateOnCash ) |
| |
| |
Gain loss from foreign currency transactions |
| |
| |
( us-gaap:ForeignCurrencyTransactionGainLossRealized ) |
| |
| |
Description on rental properties |
| |
| |
( custom:DescriptionOnRentalProperties [Extension] ) |
| |
| |
Property management fee income |
| |
| |
( us-gaap:PropertyManagementFeeRevenue ) |
| |
| |
Percentage on ownership of rental properties |
| |
| |
( custom:PercentageOnOwnershipOfRentalProperties [Extension] ) |
| |
| |
Number of outstanding leases |
| |
| |
( custom:NumberOfOutstandingLeases [Extension] ) |
| |
| |
Lease payments description |
| |
| |
( us-gaap:LesseeFinanceLeaseDescription ) |
| |
| |
Allowance for doubtful account |
123,467 | |
| |
( us-gaap:AllowanceForDoubtfulAccountsReceivable ) |
| |
| |
Impairment loss |
| |
| |
( us-gaap:AssetImpairmentCharges ) |
| |
| |
Amortization of debt issuance costs |
| |
| |
( us-gaap:AmortizationOfFinancingCosts ) |
| |
| |
Non-controlling percentage |
| |
0.20 | |
( us-gaap:MinorityInterestOwnershipPercentageByParent ) |
| |
| |
Advertising expenses |
| |
| |
( us-gaap:AdvertisingExpense ) |
| |
| |
ROU assets, net |
422,905 | |
| |
( us-gaap:OperatingLeaseRightOfUseAsset ) |
| |
| |
Lease liability payable |
612,125 | |
| |
( us-gaap:CapitalLeaseObligations ) |
| |
| |
|
(End Disclosure - Summary of Significant Accounting Policies (Details Narrative)) |
|
Disclosure - Summary of Significant Accounting Policies - Schedule of Yearly Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars (Details) |
Disclosure - Summary of Significant Accounting Policies - Schedule of Yearly Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars (Details) (USD $) |
3 Months Ended |
( us-gaap:AccountingPoliciesAbstract ) |
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2019 |
( srt:StatementScenarioAxis ) |
|
|
|
|
|
|
|
Period End [Member] RMB [Member] |
Period Average [Member] RMB [Member] |
Period End [Member] RMB [Member] |
Period Average [Member] RMB [Member] |
Period End [Member] HK [Member] |
Period Average [Member] HK [Member] |
( srt:ScenarioUnspecifiedDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
USD Exchange Rate |
6.8704 | |
6.8276 | |
6.6195 | |
6.3816 | |
7.8090 | |
7.8400 | |
( custom:ForeignCurrencyExchangeRateTranslation [Extension] ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Summary of Significant Accounting Policies - Schedule of Yearly Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars (Details) (USD $) |
6 Months Ended |
( us-gaap:AccountingPoliciesAbstract ) |
|
|
Jun. 30, 2018 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2018 |
( srt:StatementScenarioAxis ) |
|
|
|
|
|
|
|
Period End [Member] HK [Member] |
Period Average [Member] HK [Member] |
Period End [Member] RMB [Member] |
Period Average [Member] RMB [Member] |
Period End [Member] RMB [Member] |
Period Average [Member] RMB [Member] |
( srt:ScenarioUnspecifiedDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
USD Exchange Rate |
7.8459 | |
7.8482 | |
6.8704 | |
6.7871 | |
6.6195 | |
6.3701 | |
( custom:ForeignCurrencyExchangeRateTranslation [Extension] ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Summary of Significant Accounting Policies - Schedule of Yearly Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars (Details) (USD $) |
( us-gaap:AccountingPoliciesAbstract ) |
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2018 |
( srt:StatementScenarioAxis ) |
|
|
|
|
|
Period End [Member] HK [Member] |
Period Average [Member] HK [Member] |
Period End [Member] HK [Member] |
Period Average [Member] HK [Member] |
( srt:ScenarioUnspecifiedDomain ) |
|
|
|
|
|
| |
| |
| |
| |
|
| |
| |
| |
| |
USD Exchange Rate |
7.8090 | |
7.8432 | |
7.8459 | |
7.8378 | |
( custom:ForeignCurrencyExchangeRateTranslation [Extension] ) |
| |
| |
| |
| |
|
(End Disclosure - Summary of Significant Accounting Policies - Schedule of Yearly Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars (Details)) |
|
Disclosure - Summary of Significant Accounting Policies - Schedule of Ownership of Rental Properties (Details) |
Disclosure - Summary of Significant Accounting Policies - Schedule of Ownership of Rental Properties (Details) (USD $) |
6 Months Ended |
|
6 Months Ended |
|
6 Months Ended |
|
( us-gaap:AccountingPoliciesAbstract ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
( us-gaap:RealEstatePropertiesAxis ) |
|
|
|
|
|
|
|
Group A Properties [Member] |
Group A Properties [Member] |
Group B Properties [Member] |
Group B Properties [Member] |
Group C Properties [Member] |
Group C Properties [Member] |
( us-gaap:RealEstatePropertiesDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Description of Property |
Owned with title by DVPD | |
| |
Sold properties required to be repurchased - option exercised | |
| |
Properties with buy- back options transferred to SML in 2017 and 2018 | [1] |
| |
( custom:DescriptionOfProperty [Extension] ) |
| |
| |
| |
| |
| |
| |
% of Total SQ Ft |
| |
0.16 | |
| |
0.09 | |
| |
0.06 | [1] |
( custom:PercentageOfPropertyInSquareFeet [Extension] ) |
| |
| |
| |
| |
| |
| |
Financial Statement Presentation : Assets |
Rental properties | |
| |
Rental properties | |
| |
Rental properties | [1] |
| |
( custom:DescriptionOnFinancialStatementPresentationAssets [Extension] ) |
| |
| |
| |
| |
| |
| |
Financial Statement Presentation : Liabilities |
N/A | |
| |
Property financing agreements payable | |
| |
Loan payable SML | [1] |
| |
( custom:DescriptionOnFinancialStatementPresentationLiabilities [Extension] ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Summary of Significant Accounting Policies - Schedule of Ownership of Rental Properties (Details) (USD $) |
6 Months Ended |
|
6 Months Ended |
|
( us-gaap:AccountingPoliciesAbstract ) |
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
( us-gaap:RealEstatePropertiesAxis ) |
|
|
|
|
|
Group D Properties [Member] |
Group D Properties [Member] |
|
|
( us-gaap:RealEstatePropertiesDomain ) |
|
|
|
|
|
| |
| |
| |
| |
|
| |
| |
| |
| |
Description of Property |
Sold properties | |
| |
Total properties | |
| |
( custom:DescriptionOfProperty [Extension] ) |
| |
| |
| |
| |
% of Total SQ Ft |
| |
0.69 | |
| |
1.00 | |
( custom:PercentageOfPropertyInSquareFeet [Extension] ) |
| |
| |
| |
| |
Financial Statement Presentation : Assets |
N/A | |
| |
| |
| |
( custom:DescriptionOnFinancialStatementPresentationAssets [Extension] ) |
| |
| |
| |
| |
Financial Statement Presentation : Liabilities |
N/A | |
| |
| |
| |
( custom:DescriptionOnFinancialStatementPresentationLiabilities [Extension] ) |
| |
| |
| |
| |
Footnotes: |
1. | | In the filing of Form S-1/A dated February 12, 2019, the Company had a C-2 property group category, "Third party has title acquired from previous owner". The purchase and sale transactions between previous owner and new owner - "third party" will not remove the burden of the Company to buy back the property per the buy-back options. The nature of C-2 group is the same as group B. Therefore, we removed group C-2 (approximately 1%) and combined it with group B above. |
|
(End Disclosure - Summary of Significant Accounting Policies - Schedule of Ownership of Rental Properties (Details)) |
|
Disclosure - Summary of Significant Accounting Policies - Schedule of Basic and Diluted Loss Per Share (Details) |
Disclosure - Summary of Significant Accounting Policies - Schedule of Basic and Diluted Loss Per Share (Details) (USD $) |
3 Months Ended |
6 Months Ended |
( us-gaap:AccountingPoliciesAbstract ) |
|
|
|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) attributable to the Company's common shareholder |
(5,072,185 | ) |
(1,498,156 | ) |
(6,493,114 | ) |
(2,113,670 | ) |
( us-gaap:NetIncomeLoss ) |
| |
| |
| |
| |
Basic weighted average common shares |
21,711,000 | |
20,700,000 | |
21,230,635 | |
20,700,000 | |
( us-gaap:WeightedAverageNumberOfSharesOutstandingBasic ) |
| |
| |
| |
| |
Diluted weighted average common shares |
21,711,000 | |
20,700,000 | |
21,230,635 | |
20,700,000 | |
( us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding ) |
| |
| |
| |
| |
Per share - basic and diluted |
(0.23 | ) |
(0.07 | ) |
(0.31 | ) |
(0.10 | ) |
( us-gaap:EarningsPerShareBasicAndDiluted ) |
| |
| |
| |
| |
|
(End Disclosure - Summary of Significant Accounting Policies - Schedule of Basic and Diluted Loss Per Share (Details)) |
|
Disclosure - Prepaid Expenses and Other Assets - Schedule of Prepaid Expenses and Other Assets (Details) |
Disclosure - Prepaid Expenses and Other Assets - Schedule of Prepaid Expenses and Other Assets (Details) (USD $) |
|
|
( custom:PrepaidExpensesAndOtherAssetsAbstract [Extension] ) |
|
|
|
Jun. 30, 2019 |
Dec. 31, 2018 |
|
|
|
|
|
|
|
|
|
Supplies on hands |
100,792 | |
79,478 | |
( us-gaap:Supplies ) |
| |
| |
Prepaid expenses |
380,468 | |
498,043 | |
( us-gaap:PrepaidExpenseCurrentAndNoncurrent ) |
| |
| |
Deposits |
145,332 | |
120,235 | |
( us-gaap:DepositsAssets ) |
| |
| |
Total prepaid expenses and other assets |
626,592 | |
697,756 | |
( us-gaap:PrepaidExpenseAndOtherAssets ) |
| |
| |
|
(End Disclosure - Prepaid Expenses and Other Assets - Schedule of Prepaid Expenses and Other Assets (Details)) |
|
Disclosure - Rental Properties, Net (Details Narrative) |
Disclosure - Rental Properties, Net (Details Narrative) (USD $) |
|
6 Months Ended |
|
12 Months Ended |
|
6 Months Ended |
( us-gaap:LeasesAbstract ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Jun. 30, 2018 |
Jun. 30, 2019 |
( srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis ) |
|
|
|
|
|
|
|
Group D Property [Member] |
Group D Property [Member] |
Group D Property [Member] |
Group D Property [Member] |
Group A Property [Member] |
Group A Property [Member] |
( srt:MortgageLoansOnRealEstateNamePropertyTypeDomain ) |
|
|
|
|
|
|
Area of rental properties, square feet |
1,023,519 | |
| |
1,023,519 | |
| |
240,799 | |
| |
( us-gaap:NetRentableArea ) |
| |
| |
| |
| |
| |
| |
Area of land |
95,088 | |
| |
95,088 | |
| |
22,371 | |
| |
( us-gaap:AreaOfLand ) |
| |
| |
| |
| |
| |
| |
Percentage of rental properties |
| |
0.69 | |
| |
0.69 | |
| |
0.16 | |
( custom:PercentageOfRentalProperties [Extension] ) |
| |
| |
| |
| |
| |
| |
Loan collateral amount |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentCollateralAmount ) |
| |
| |
| |
| |
| |
| |
Percentage for lease |
| |
| |
| |
| |
| |
| |
( custom:PercentageForLease [Extension] ) |
| |
| |
| |
| |
| |
| |
Terms of land use rights |
| |
| |
| |
| |
| |
| |
( custom:TermsOfLandUseRights [Extension] ) |
| |
| |
| |
| |
| |
| |
Expiration of land use rights |
| |
| |
| |
| |
| |
| |
( custom:ExpirationOfLandUseRight [Extension] ) |
| |
| |
| |
| |
| |
| |
Estimated useful life |
| |
| |
| |
| |
| |
| |
( custom:EstimatedUsefulLifeofRentalProperties [Extension] ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Rental Properties, Net (Details Narrative) (USD $) |
|
12 Months Ended |
|
|
|
|
( us-gaap:LeasesAbstract ) |
|
|
|
|
|
|
|
Dec. 31, 2018 |
Dec. 31, 2018 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
( srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis ) |
|
|
|
|
|
|
|
Group A Property [Member] |
Group A Property [Member] |
390M RMB Loan [Member] |
50M RMB Loan [Member] |
23M RMB Loan [Member] |
Group B Property [Member] |
( srt:MortgageLoansOnRealEstateNamePropertyTypeDomain ) |
|
|
|
|
|
|
Area of rental properties, square feet |
240,799 | |
| |
200,747 | |
22,098 | |
| |
130,049 | |
( us-gaap:NetRentableArea ) |
| |
| |
| |
| |
| |
| |
Area of land |
22,371 | |
| |
18,650 | |
2,053 | |
| |
12,082 | |
( us-gaap:AreaOfLand ) |
| |
| |
| |
| |
| |
| |
Percentage of rental properties |
| |
0.16 | |
| |
| |
| |
| |
( custom:PercentageOfRentalProperties [Extension] ) |
| |
| |
| |
| |
| |
| |
Loan collateral amount |
| |
| |
56,200,000 | |
7,200,000 | |
3,500,000 | |
| |
( us-gaap:DebtInstrumentCollateralAmount ) |
| |
| |
| |
| |
| |
| |
Percentage for lease |
| |
| |
| |
| |
| |
| |
( custom:PercentageForLease [Extension] ) |
| |
| |
| |
| |
| |
| |
Terms of land use rights |
| |
| |
| |
| |
| |
| |
( custom:TermsOfLandUseRights [Extension] ) |
| |
| |
| |
| |
| |
| |
Expiration of land use rights |
| |
| |
| |
| |
| |
| |
( custom:ExpirationOfLandUseRight [Extension] ) |
| |
| |
| |
| |
| |
| |
Estimated useful life |
| |
| |
| |
| |
| |
| |
( custom:EstimatedUsefulLifeofRentalProperties [Extension] ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Rental Properties, Net (Details Narrative) (USD $) |
6 Months Ended |
|
12 Months Ended |
6 Months Ended |
|
|
( us-gaap:LeasesAbstract ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Dec. 31, 2018 |
( srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis ) |
|
|
|
|
|
|
|
Group B Property [Member] |
Group B Property [Member] |
Group B Property [Member] |
SML Financing Agreement [Member] |
SML Financing Agreement [Member] |
SML Financing Agreement [Member] |
( srt:MortgageLoansOnRealEstateNamePropertyTypeDomain ) |
|
|
|
|
|
|
Area of rental properties, square feet |
| |
130,049 | |
| |
| |
86,251 | |
86,251 | |
( us-gaap:NetRentableArea ) |
| |
| |
| |
| |
| |
| |
Area of land |
| |
12,082 | |
| |
| |
8,013 | |
8,013 | |
( us-gaap:AreaOfLand ) |
| |
| |
| |
| |
| |
| |
Percentage of rental properties |
0.09 | |
| |
0.09 | |
| |
| |
| |
( custom:PercentageOfRentalProperties [Extension] ) |
| |
| |
| |
| |
| |
| |
Loan collateral amount |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentCollateralAmount ) |
| |
| |
| |
| |
| |
| |
Percentage for lease |
| |
| |
| |
0.08 | |
| |
| |
( custom:PercentageForLease [Extension] ) |
| |
| |
| |
| |
| |
| |
Terms of land use rights |
| |
| |
| |
| |
| |
| |
( custom:TermsOfLandUseRights [Extension] ) |
| |
| |
| |
| |
| |
| |
Expiration of land use rights |
| |
| |
| |
| |
| |
| |
( custom:ExpirationOfLandUseRight [Extension] ) |
| |
| |
| |
| |
| |
| |
Estimated useful life |
| |
| |
| |
| |
| |
| |
( custom:EstimatedUsefulLifeofRentalProperties [Extension] ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Rental Properties, Net (Details Narrative) (USD $) |
6 Months Ended |
( us-gaap:LeasesAbstract ) |
|
|
Jun. 30, 2019 |
( srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis ) |
|
|
|
( srt:MortgageLoansOnRealEstateNamePropertyTypeDomain ) |
|
Area of rental properties, square feet |
| |
( us-gaap:NetRentableArea ) |
| |
Area of land |
| |
( us-gaap:AreaOfLand ) |
| |
Percentage of rental properties |
| |
( custom:PercentageOfRentalProperties [Extension] ) |
| |
Loan collateral amount |
| |
( us-gaap:DebtInstrumentCollateralAmount ) |
| |
Percentage for lease |
| |
( custom:PercentageForLease [Extension] ) |
| |
Terms of land use rights |
P50Y | |
( custom:TermsOfLandUseRights [Extension] ) |
| |
Expiration of land use rights |
The land use rights expire in May 2043 | |
( custom:ExpirationOfLandUseRight [Extension] ) |
| |
Estimated useful life |
P45Y | |
( custom:EstimatedUsefulLifeofRentalProperties [Extension] ) |
| |
|
(End Disclosure - Rental Properties, Net (Details Narrative)) |
|
Disclosure - Rental Properties, Net - Schedule of Rental Properties (Details) |
Disclosure - Rental Properties, Net - Schedule of Rental Properties (Details) (USD $) |
6 Months Ended |
|
6 Months Ended |
|
6 Months Ended |
|
( us-gaap:LeasesAbstract ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
( us-gaap:RealEstatePropertiesAxis ) |
|
|
|
|
|
|
|
Group A [Member] |
Group A [Member] |
Group B [Member] |
Group B [Member] |
Group C [Member] |
Group C [Member] |
( us-gaap:RealEstatePropertiesDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Description of property |
Owned by DVPD | |
| |
Sold properties required to be repurchased - option exercised | |
| |
Properties with purchase back options transferred to SML - 2017 and 2018 | |
| |
( custom:DescriptionOfProperty [Extension] ) |
| |
| |
| |
| |
| |
| |
Cost of rental property |
| |
21,991,954 | |
| |
11,858,431 | |
| |
7,762,145 | |
( custom:CostOfRentalProperty [Extension] ) |
| |
| |
| |
| |
| |
| |
In Square Feet |
| |
240,455 | |
| |
130,394 | |
| |
86,251 | |
( us-gaap:NetRentableArea ) |
| |
| |
| |
| |
| |
| |
% of Total Square Feet |
| |
0.16 | |
| |
0.09 | |
| |
0.06 | |
( custom:PercentageOfPropertyInSquareFeet [Extension] ) |
| |
| |
| |
| |
| |
| |
Units |
| |
433 | |
| |
495 | |
| |
319 | |
( custom:UnitsOfProperty [Extension] ) |
| |
| |
| |
| |
| |
| |
Rental properties at cost |
| |
| |
| |
| |
| |
| |
( custom:RentalPropertiesAtCost [Extension] ) |
| |
| |
| |
| |
| |
| |
Less: Accumulated depreciation |
| |
| |
| |
| |
| |
| |
( custom:RentalPropertiesAccumulatedDepreciation [Extension] ) |
| |
| |
| |
| |
| |
| |
Rental Properties, net |
| |
| |
| |
| |
| |
| |
( us-gaap:RentalProperties ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Rental Properties, Net - Schedule of Rental Properties (Details) (USD $) |
6 Months Ended |
|
|
12 Months Ended |
|
12 Months Ended |
( us-gaap:LeasesAbstract ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
( us-gaap:RealEstatePropertiesAxis ) |
|
|
|
|
|
|
|
Group D [Member] |
Group D [Member] |
|
Group A [Member] |
Group A [Member] |
Group B [Member] |
( us-gaap:RealEstatePropertiesDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Description of property |
Sold properties | |
| |
| |
Owned by DVPD | |
| |
Sold properties required to be repurchased - option exercised | |
( custom:DescriptionOfProperty [Extension] ) |
| |
| |
| |
| |
| |
| |
Cost of rental property |
| |
— | |
| |
| |
21,968,292 | |
| |
( custom:CostOfRentalProperty [Extension] ) |
| |
| |
| |
| |
| |
| |
In Square Feet |
| |
1,023,519 | |
1,480,619 | |
| |
240,799 | |
| |
( us-gaap:NetRentableArea ) |
| |
| |
| |
| |
| |
| |
% of Total Square Feet |
| |
0.69 | |
1.00 | |
| |
0.16 | |
| |
( custom:PercentageOfPropertyInSquareFeet [Extension] ) |
| |
| |
| |
| |
| |
| |
Units |
| |
1,926 | |
3,173 | |
| |
434 | |
| |
( custom:UnitsOfProperty [Extension] ) |
| |
| |
| |
| |
| |
| |
Rental properties at cost |
| |
| |
41,612,530 | |
| |
| |
| |
( custom:RentalPropertiesAtCost [Extension] ) |
| |
| |
| |
| |
| |
| |
Less: Accumulated depreciation |
| |
| |
(19,532,412 | ) |
| |
| |
| |
( custom:RentalPropertiesAccumulatedDepreciation [Extension] ) |
| |
| |
| |
| |
| |
| |
Rental Properties, net |
| |
| |
22,080,118 | |
| |
| |
| |
( us-gaap:RentalProperties ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Rental Properties, Net - Schedule of Rental Properties (Details) (USD $) |
|
12 Months Ended |
|
12 Months Ended |
|
|
( us-gaap:LeasesAbstract ) |
|
|
|
|
|
|
|
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
( us-gaap:RealEstatePropertiesAxis ) |
|
|
|
|
|
|
|
Group B [Member] |
Group C [Member] |
Group C [Member] |
Group D [Member] |
Group D [Member] |
|
( us-gaap:RealEstatePropertiesDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Description of property |
| |
Properties with purchase back options transferred to SML - 2017 and 2018 | |
| |
Sold properties without buy-back options | |
| |
| |
( custom:DescriptionOfProperty [Extension] ) |
| |
| |
| |
| |
| |
| |
Cost of rental property |
11,845,672 | |
| |
7,753,794 | |
| |
— | |
| |
( custom:CostOfRentalProperty [Extension] ) |
| |
| |
| |
| |
| |
| |
In Square Feet |
130,049 | |
| |
86,252 | |
| |
1,023,519 | |
1,480,619 | |
( us-gaap:NetRentableArea ) |
| |
| |
| |
| |
| |
| |
% of Total Square Feet |
0.09 | |
| |
0.06 | |
| |
0.69 | |
1.00 | |
( custom:PercentageOfPropertyInSquareFeet [Extension] ) |
| |
| |
| |
| |
| |
| |
Units |
493 | |
| |
319 | |
| |
1,927 | |
3,173 | |
( custom:UnitsOfProperty [Extension] ) |
| |
| |
| |
| |
| |
| |
Rental properties at cost |
| |
| |
| |
| |
| |
41,567,758 | |
( custom:RentalPropertiesAtCost [Extension] ) |
| |
| |
| |
| |
| |
| |
Less: Accumulated depreciation |
| |
| |
| |
| |
| |
(19,048,676 | ) |
( custom:RentalPropertiesAccumulatedDepreciation [Extension] ) |
| |
| |
| |
| |
| |
| |
Rental Properties, net |
| |
| |
| |
| |
| |
22,519,082 | |
( us-gaap:RentalProperties ) |
| |
| |
| |
| |
| |
| |
|
(End Disclosure - Rental Properties, Net - Schedule of Rental Properties (Details)) |
|
Disclosure - Rental Properties, Net - Schedule of Expected Future Minimum Rents (Details) |
Disclosure - Rental Properties, Net - Schedule of Expected Future Minimum Rents (Details) (USD $) |
|
( us-gaap:LeasesAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
2020 |
664,896 | |
( us-gaap:OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears ) |
| |
2021 |
651,177 | |
( us-gaap:OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears ) |
| |
2022 |
311,510 | |
( us-gaap:OperatingLeasesFutureMinimumPaymentsReceivableInFourYears ) |
| |
2023 |
13,485 | |
( us-gaap:OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears ) |
| |
Total |
1,641,068 | |
( us-gaap:OperatingLeasesFutureMinimumPaymentsReceivable ) |
| |
|
(End Disclosure - Rental Properties, Net - Schedule of Expected Future Minimum Rents (Details)) |
|
Disclosure - Property and Equipment (Details Narrative) |
Disclosure - Property and Equipment (Details Narrative) (USD $) |
3 Months Ended |
6 Months Ended |
( PropertyPlantAndEquipmentAbstract ) |
|
|
|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation expense |
56,758 | |
57,866 | |
113,427 | |
113,375 | |
( us-gaap:Depreciation ) |
| |
| |
| |
| |
|
(End Disclosure - Property and Equipment (Details Narrative)) |
|
Disclosure - Property and Equipment - Schedule of Property and Equipment (Details) |
Disclosure - Property and Equipment - Schedule of Property and Equipment (Details) (USD $) |
6 Months Ended |
( us-gaap:PropertyPlantAndEquipmentAbstract ) |
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
( us-gaap:PropertyPlantAndEquipmentByTypeAxis ) |
|
|
|
|
|
|
|
Property and Equipment [Member] |
Office Equipment [Member] Minimum [Member] |
Office Equipment [Member] Maximum [Member] |
Business Machinery and Equipment [Member] Minimum [Member] |
Business Machinery and Equipment [Member] Maximum [Member] |
Auto [Member] |
( us-gaap:PropertyPlantAndEquipmentTypeDomain ) |
|
|
|
|
|
|
Estimated Useful Life |
P45Y | |
P3Y | |
P5Y | |
P5Y | |
P10Y | |
P5Y | |
( us-gaap:PropertyPlantAndEquipmentUsefulLife ) |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Total properties, machinery and equipment |
| |
| |
| |
| |
| |
| |
( us-gaap:PropertyPlantAndEquipmentGross ) |
| |
| |
| |
| |
| |
| |
Less: accumulated depreciation and amortization |
| |
| |
| |
| |
| |
| |
( us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment ) |
| |
| |
| |
| |
| |
| |
Property and equipment, net |
| |
| |
| |
| |
| |
| |
( us-gaap:PropertyPlantAndEquipmentNet ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Property and Equipment - Schedule of Property and Equipment (Details) (USD $) |
|
|
|
|
( us-gaap:PropertyPlantAndEquipmentAbstract ) |
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
( us-gaap:PropertyPlantAndEquipmentByTypeAxis ) |
|
|
|
|
|
|
|
Improvement [Member] Minimum [Member] |
Improvement [Member] Maximum [Member] |
Property and Equipment [Member] |
Office Equipment [Member] |
Business Machinery and Equipment [Member] |
Auto [Member] |
( us-gaap:PropertyPlantAndEquipmentTypeDomain ) |
|
|
|
|
|
|
Estimated Useful Life |
P5Y | |
P10Y | |
| |
| |
| |
| |
( us-gaap:PropertyPlantAndEquipmentUsefulLife ) |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Total properties, machinery and equipment |
| |
| |
221,379 | |
330,329 | |
2,974,707 | |
24,900 | |
( us-gaap:PropertyPlantAndEquipmentGross ) |
| |
| |
| |
| |
| |
| |
Less: accumulated depreciation and amortization |
| |
| |
| |
| |
| |
| |
( us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment ) |
| |
| |
| |
| |
| |
| |
Property and equipment, net |
| |
| |
| |
| |
| |
| |
( us-gaap:PropertyPlantAndEquipmentNet ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Property and Equipment - Schedule of Property and Equipment (Details) (USD $) |
|
|
|
|
|
|
( us-gaap:PropertyPlantAndEquipmentAbstract ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
( us-gaap:PropertyPlantAndEquipmentByTypeAxis ) |
|
|
|
|
|
|
|
Improvements [Member] |
|
Property and Equipment [Member] |
Office Equipment [Member] |
Business Machinery and Equipment [Member] |
Auto [Member] |
( us-gaap:PropertyPlantAndEquipmentTypeDomain ) |
|
|
|
|
|
|
Estimated Useful Life |
| |
| |
| |
| |
| |
| |
( us-gaap:PropertyPlantAndEquipmentUsefulLife ) |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Total properties, machinery and equipment |
10,129,839 | |
13,681,154 | |
221,140 | |
324,623 | |
2,969,180 | |
24,873 | |
( us-gaap:PropertyPlantAndEquipmentGross ) |
| |
| |
| |
| |
| |
| |
Less: accumulated depreciation and amortization |
| |
(13,141,091 | ) |
| |
| |
| |
| |
( us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment ) |
| |
| |
| |
| |
| |
| |
Property and equipment, net |
| |
540,063 | |
| |
| |
| |
| |
( us-gaap:PropertyPlantAndEquipmentNet ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Property and Equipment - Schedule of Property and Equipment (Details) (USD $) |
|
|
( us-gaap:PropertyPlantAndEquipmentAbstract ) |
|
|
|
Dec. 31, 2018 |
Dec. 31, 2018 |
( us-gaap:PropertyPlantAndEquipmentByTypeAxis ) |
|
|
|
Improvements [Member] |
|
( us-gaap:PropertyPlantAndEquipmentTypeDomain ) |
|
|
Estimated Useful Life |
| |
| |
( us-gaap:PropertyPlantAndEquipmentUsefulLife ) |
| |
| |
|
| |
| |
|
| |
| |
Total properties, machinery and equipment |
10,118,913 | |
13,658,729 | |
( us-gaap:PropertyPlantAndEquipmentGross ) |
| |
| |
Less: accumulated depreciation and amortization |
| |
(13,024,140 | ) |
( us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment ) |
| |
| |
Property and equipment, net |
| |
634,589 | |
( us-gaap:PropertyPlantAndEquipmentNet ) |
| |
| |
|
(End Disclosure - Property and Equipment - Schedule of Property and Equipment (Details)) |
|
Disclosure - Intangible Assets (Details Narrative) |
Disclosure - Intangible Assets (Details Narrative) (USD $) |
3 Months Ended |
6 Months Ended |
( GoodwillAndIntangibleAssetsDisclosureAbstract ) |
|
|
|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization expense |
1,316 | |
468 | |
2,648 | |
470 | |
( us-gaap:AmortizationOfIntangibleAssets ) |
| |
| |
| |
| |
|
(End Disclosure - Intangible Assets (Details Narrative)) |
|
Disclosure - Intangible Assets - Schedule of Intangible Assets (Details) |
Disclosure - Intangible Assets - Schedule of Intangible Assets (Details) (Management Software [Member], USD $) |
6 Months Ended |
|
|
( us-gaap:GoodwillAndIntangibleAssetsDisclosureAbstract ) |
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Dec. 31, 2018 |
( us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis ) |
|
|
|
|
|
|
|
( us-gaap:FiniteLivedIntangibleAssetsMajorClassNameDomain ) |
|
|
|
Estimated Useful Life |
P5Y | |
| |
| |
( us-gaap:FiniteLivedIntangibleAssetUsefulLife ) |
| |
| |
| |
Total Intangible Assets |
| |
26,162 | |
26,134 | |
( us-gaap:FiniteLivedIntangibleAssetsGross ) |
| |
| |
| |
Less: accumulated amortization |
| |
(5,671 | ) |
(3,051 | ) |
( us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization ) |
| |
| |
| |
Intangible assets, net |
| |
20,491 | |
23,083 | |
( us-gaap:FiniteLivedIntangibleAssetsNet ) |
| |
| |
| |
|
(End Disclosure - Intangible Assets - Schedule of Intangible Assets (Details)) |
|
Disclosure - Right of Use Assets (Details Narrative) |
Disclosure - Right of Use Assets (Details Narrative) (USD $) |
6 Months Ended |
0 Months Ended |
|
12 Months Ended |
6 Months Ended |
3 Months Ended |
( custom:RightOfUseAssetsAbstract [Extension] ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Mar. 27, 2018 |
Mar. 27, 2018 |
Dec. 31, 2018 |
Jun. 30, 2018 |
Jun. 30, 2019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lease payments description |
The present value of the sum of the lease payments and any residual value guaranteed by the lessee that is not already reflected in the lease payments equals or exceeds substantially all (90% or more) of the fair value of the underlying asset | |
| |
| |
| |
| |
| |
( us-gaap:LesseeFinanceLeaseDescription ) |
| |
| |
| |
| |
| |
| |
Lease expire date |
2020-03-26 | |
2020-03-26 | |
| |
| |
| |
| |
( us-gaap:LeaseExpirationDate1 ) |
| |
| |
| |
| |
| |
| |
Percentage for lease payment |
| |
| |
0.0525 | |
| |
| |
| |
( us-gaap:LesseeOperatingLeaseDiscountRate ) |
| |
| |
| |
| |
| |
| |
Lease description |
1 and 15 lease-back leases expired | |
| |
| |
1 and 15 lease-back leases expired | |
| |
| |
( us-gaap:LessorOperatingLeaseDescription ) |
| |
| |
| |
| |
| |
| |
Amortization of financing leases |
42,366 | |
| |
| |
| |
73,089 | |
27,685 | |
( custom:AmortizationOfFinancingLeases [Extension] ) |
| |
| |
| |
| |
| |
| |
Operating lease expense |
298,141 | |
| |
| |
| |
229,827 | |
122,731 | |
( us-gaap:OperatingLeaseExpense ) |
| |
| |
| |
| |
| |
| |
Short term lease rent expense |
141,169 | |
| |
| |
| |
147,981 | |
44,214 | |
( us-gaap:LeaseAndRentalExpense ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Right of Use Assets (Details Narrative) (USD $) |
( custom:RightOfUseAssetsAbstract [Extension] ) |
|
Jun. 30, 2018 |
|
|
|
|
|
|
Lease payments description |
| |
( us-gaap:LesseeFinanceLeaseDescription ) |
| |
Lease expire date |
| |
( us-gaap:LeaseExpirationDate1 ) |
| |
Percentage for lease payment |
| |
( us-gaap:LesseeOperatingLeaseDiscountRate ) |
| |
Lease description |
| |
( us-gaap:LessorOperatingLeaseDescription ) |
| |
Amortization of financing leases |
29,970 | |
( custom:AmortizationOfFinancingLeases [Extension] ) |
| |
Operating lease expense |
147,787 | |
( us-gaap:OperatingLeaseExpense ) |
| |
Short term lease rent expense |
65,941 | |
( us-gaap:LeaseAndRentalExpense ) |
| |
|
(End Disclosure - Right of Use Assets (Details Narrative)) |
|
Disclosure - Right of Use Assets - Schedule of Right of Use Assets (Details) |
Disclosure - Right of Use Assets - Schedule of Right of Use Assets (Details) (USD $) |
|
|
|
|
|
|
( custom:RightOfUseAssetsAbstract [Extension] ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Dec. 31, 2018 |
Dec. 31, 2018 |
( us-gaap:LeaseArrangementTypeAxis ) |
|
|
|
|
|
|
|
Financing Lease B [Member] |
Financing Lease D [Member] |
Operating Leases - Rental [Member] |
|
Financing Lease B [Member] |
Financing Lease D [Member] |
( us-gaap:LeaseArrangementTypeDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Lease units |
3 | |
4 | |
1 | |
8 | |
4 | |
4 | |
( custom:LeaseUnit1 [Extension] ) |
| |
| |
| |
| |
| |
| |
ROU Assets |
219,275 | |
247,997 | |
599,642 | |
1,066,914 | |
315,067 | |
247,730 | |
( custom:OperatingandFinanceLeaseRightOfUseAssetGross [Extension] ) |
| |
| |
| |
| |
| |
| |
Accumulated Depreciation |
(211,064 | ) |
(247,997 | ) |
(375,222 | ) |
(834,283 | ) |
(284,848 | ) |
(237,948 | ) |
( custom:AccumulatedDepreciationDepletionAndAmortizationRighToUseAssets [Extension] ) |
| |
| |
| |
| |
| |
| |
ROU, Net |
8,211 | |
— | |
224,420 | |
232,631 | |
30,219 | |
9,782 | |
( us-gaap:OperatingLeaseRightOfUseAsset ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Right of Use Assets - Schedule of Right of Use Assets (Details) (USD $) |
|
|
( custom:RightOfUseAssetsAbstract [Extension] ) |
|
|
|
Dec. 31, 2018 |
Dec. 31, 2018 |
( us-gaap:LeaseArrangementTypeAxis ) |
|
|
|
Operating Leases - Rental [Member] |
|
( us-gaap:LeaseArrangementTypeDomain ) |
|
|
|
| |
| |
|
| |
| |
Lease units |
1 | |
9 | |
( custom:LeaseUnit1 [Extension] ) |
| |
| |
ROU Assets |
597,889 | |
1,160,686 | |
( custom:OperatingandFinanceLeaseRightOfUseAssetGross [Extension] ) |
| |
| |
Accumulated Depreciation |
(214,985 | ) |
(737,781 | ) |
( custom:AccumulatedDepreciationDepletionAndAmortizationRighToUseAssets [Extension] ) |
| |
| |
ROU, Net |
382,904 | |
422,905 | |
( us-gaap:OperatingLeaseRightOfUseAsset ) |
| |
| |
|
(End Disclosure - Right of Use Assets - Schedule of Right of Use Assets (Details)) |
|
Disclosure - Short-Term Loan and Interest Receivable (Details Narrative) |
Disclosure - Short-Term Loan and Interest Receivable (Details Narrative) (USD $) |
|
|
0 Months Ended |
3 Months Ended |
9 Months Ended |
6 Months Ended |
( us-gaap:DebtDisclosureAbstract ) |
|
|
|
|
|
|
|
Jun. 28, 2018 |
Jun. 28, 2018 |
Jun. 28, 2018 |
Sep. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2019 |
( us-gaap:TypeOfArrangementAxis ) |
|
|
|
|
|
|
|
RMB 50M Loan [Member] RMB [Member] Zhong Ke Chuang Zhan Investment, Ltd [Member] |
RMB 50M Loan [Member] Zhong Ke Chuang Zhan Investment, Ltd [Member] |
RMB 50M Loan [Member] Zhong Ke Chuang Zhan Investment, Ltd [Member] |
RMB 50M Loan [Member] Zhong Ke Chuang Zhan Investment, Ltd [Member] |
RMB 50M Loan [Member] Zhong Ke Chuang Zhan Investment, Ltd [Member] October 1, 2018 to June 30, 2019 [Member] |
Zhong Ke Chuang Zhan Investment, Ltd [Member] |
( us-gaap:ArrangementsAndNonarrangementTransactionsMember ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Maximum borrowed loan |
50,000,000 | |
7,265,647 | |
| |
| |
| |
| |
( us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity ) |
| |
| |
| |
| |
| |
| |
Loan maturity date |
| |
| |
2019-06-30 | |
| |
| |
| |
( us-gaap:LineOfCreditFacilityExpirationDate1 ) |
| |
| |
| |
| |
| |
| |
Loan interest date |
| |
| |
| |
0.02 | |
0.007 | |
| |
( us-gaap:LineOfCreditFacilityInterestRateDuringPeriod ) |
| |
| |
| |
| |
| |
| |
Additional loan amount |
| |
| |
| |
| |
| |
2,570,000 | |
( us-gaap:ProceedsFromLinesOfCredit ) |
| |
| |
| |
| |
| |
| |
Shor term loan principal amount |
| |
| |
| |
| |
| |
| |
( us-gaap:LinesOfCreditCurrent ) |
| |
| |
| |
| |
| |
| |
Accrued interest |
| |
| |
| |
| |
| |
| |
( us-gaap:InterestPayableCurrent ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Short-Term Loan and Interest Receivable (Details Narrative) (USD $) |
|
6 Months Ended |
( us-gaap:DebtDisclosureAbstract ) |
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
( us-gaap:TypeOfArrangementAxis ) |
|
|
|
RMB 50M Loan [Member] Zhong Ke Chuang Zhan Investment, Ltd [Member] |
RMB 50M Loan [Member] Zhong Ke Chuang Zhan Investment, Ltd [Member] |
( us-gaap:ArrangementsAndNonarrangementTransactionsMember ) |
|
|
|
| |
| |
|
| |
| |
Maximum borrowed loan |
75,000,000 | |
| |
( us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity ) |
| |
| |
Loan maturity date |
| |
2020-06-30 | |
( us-gaap:LineOfCreditFacilityExpirationDate1 ) |
| |
| |
Loan interest date |
| |
| |
( us-gaap:LineOfCreditFacilityInterestRateDuringPeriod ) |
| |
| |
Additional loan amount |
| |
| |
( us-gaap:ProceedsFromLinesOfCredit ) |
| |
| |
Shor term loan principal amount |
9,712,109 | |
| |
( us-gaap:LinesOfCreditCurrent ) |
| |
| |
Accrued interest |
851,527 | |
| |
( us-gaap:InterestPayableCurrent ) |
| |
| |
|
(End Disclosure - Short-Term Loan and Interest Receivable (Details Narrative)) |
|
Disclosure - Bank Loans Payable (Details Narrative) |
Disclosure - Bank Loans Payable (Details Narrative) (USD $) |
0 Months Ended |
|
|
0 Months Ended |
|
3 Months Ended |
( us-gaap:DebtDisclosureAbstract ) |
|
|
|
|
|
|
|
Jul. 20, 2014 |
Jul. 20, 2014 |
Jul. 20, 2014 |
Oct. 24, 2015 |
Oct. 24, 2015 |
Jun. 30, 2019 |
( us-gaap:TypeOfArrangementAxis ) |
|
|
|
|
|
|
|
RMB 390M Loan [Member] |
RMB 390M Loan [Member] |
RMB 390M Loan [Member] RMB [Member] |
RMB 390M Loan [Member] |
RMB 390M Loan [Member] |
390M RMB Loan [Member] |
( us-gaap:ArrangementsAndNonarrangementTransactionsMember ) |
|
|
|
|
|
|
Loan term |
P10Y | |
| |
| |
P5Y | |
| |
| |
( us-gaap:DebtInstrumentTerm ) |
| |
| |
| |
| |
| |
| |
Bank loans payable |
| |
56,765,254 | |
390,000,000 | |
| |
| |
| |
( us-gaap:LoansPayableToBank ) |
| |
| |
| |
| |
| |
| |
Loan interest float rate |
| |
1.20 | |
| |
| |
| |
| |
( custom:LoanInterestFloatRate [Extension] ) |
| |
| |
| |
| |
| |
| |
Loan interest rate per annum |
| |
| |
| |
| |
0.049 | |
| |
( us-gaap:DebtInstrumentInterestRateStatedPercentage ) |
| |
| |
| |
| |
| |
| |
Debt effective interest rate |
| |
| |
| |
| |
| |
0.0588 | |
( us-gaap:DebtInstrumentInterestRateBasisForEffectiveRate ) |
| |
| |
| |
| |
| |
| |
Loan maturity date |
2024-06-19 | |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentMaturityDate ) |
| |
| |
| |
| |
| |
| |
Loan maturity date, description |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentMaturityDateDescription ) |
| |
| |
| |
| |
| |
| |
Repayment of loan |
72,776 | |
| |
| |
| |
| |
| |
( us-gaap:RepaymentsOfDebt ) |
| |
| |
| |
| |
| |
| |
Unpaid principle and interest amount |
| |
| |
| |
| |
| |
| |
( custom:UnpaidPrincipleAndInterestAmount [Extension] ) |
| |
| |
| |
| |
| |
| |
Area of land |
| |
| |
| |
| |
| |
| |
( us-gaap:AreaOfLand ) |
| |
| |
| |
| |
| |
| |
Rental properties owned by the company, square feet |
| |
| |
| |
| |
| |
| |
( custom:RentalPropertiesOwnedByCompanySquareFeet [Extension] ) |
| |
| |
| |
| |
| |
| |
Percentage of damages |
| |
| |
| |
| |
| |
| |
( custom:PercentageOfDamages [Extension] ) |
| |
| |
| |
| |
| |
| |
Long term borrowing |
| |
| |
| |
| |
| |
| |
( us-gaap:LongTermDebt ) |
| |
| |
| |
| |
| |
| |
Proceeds from short term loan |
| |
| |
| |
| |
| |
| |
( us-gaap:ProceedsFromShortTermDebt ) |
| |
| |
| |
| |
| |
| |
Weighted average short-term loan balance |
| |
| |
| |
| |
| |
| |
( us-gaap:ShorttermDebtAverageOutstandingAmount ) |
| |
| |
| |
| |
| |
| |
Interest expense |
| |
| |
| |
| |
| |
| |
( us-gaap:InterestExpenseDebt ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Bank Loans Payable (Details Narrative) (USD $) |
6 Months Ended |
0 Months Ended |
3 Months Ended |
( us-gaap:DebtDisclosureAbstract ) |
|
|
|
|
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Aug. 17, 2017 |
Jul. 20, 2014 |
Mar. 31, 2019 |
( us-gaap:TypeOfArrangementAxis ) |
|
|
|
|
|
|
|
390M RMB Loan [Member] |
390M RMB Loan [Member] |
390M RMB Loan [Member] |
RMB 390M Loan [Member] |
RMB 390M Loan [Member] RMB [Member] |
RMB 390M Loan [Member] |
( us-gaap:ArrangementsAndNonarrangementTransactionsMember ) |
|
|
|
|
|
|
Loan term |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentTerm ) |
| |
| |
| |
| |
| |
| |
Bank loans payable |
| |
| |
| |
| |
| |
| |
( us-gaap:LoansPayableToBank ) |
| |
| |
| |
| |
| |
| |
Loan interest float rate |
| |
| |
| |
| |
| |
| |
( custom:LoanInterestFloatRate [Extension] ) |
| |
| |
| |
| |
| |
| |
Loan interest rate per annum |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentInterestRateStatedPercentage ) |
| |
| |
| |
| |
| |
| |
Debt effective interest rate |
0.0588 | |
0.0588 | |
0.0588 | |
| |
| |
| |
( us-gaap:DebtInstrumentInterestRateBasisForEffectiveRate ) |
| |
| |
| |
| |
| |
| |
Loan maturity date |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentMaturityDate ) |
| |
| |
| |
| |
| |
| |
Loan maturity date, description |
| |
| |
| |
(i) to extend the maturity date of the RMB 390M Loan from July 19, 2024 to July 18, 2027; (ii) to extend the initial monthly repayment date from August 20, 2017 to July 20, 2020, however, during the extended period | |
| |
| |
( us-gaap:DebtInstrumentMaturityDateDescription ) |
| |
| |
| |
| |
| |
| |
Repayment of loan |
| |
| |
| |
| |
500,000 | |
| |
( us-gaap:RepaymentsOfDebt ) |
| |
| |
| |
| |
| |
| |
Unpaid principle and interest amount |
| |
| |
| |
| |
| |
918,000 | |
( custom:UnpaidPrincipleAndInterestAmount [Extension] ) |
| |
| |
| |
| |
| |
| |
Area of land |
| |
| |
| |
| |
| |
| |
( us-gaap:AreaOfLand ) |
| |
| |
| |
| |
| |
| |
Rental properties owned by the company, square feet |
| |
| |
| |
| |
| |
| |
( custom:RentalPropertiesOwnedByCompanySquareFeet [Extension] ) |
| |
| |
| |
| |
| |
| |
Percentage of damages |
| |
| |
| |
| |
| |
| |
( custom:PercentageOfDamages [Extension] ) |
| |
| |
| |
| |
| |
| |
Long term borrowing |
| |
| |
| |
| |
| |
| |
( us-gaap:LongTermDebt ) |
| |
| |
| |
| |
| |
| |
Proceeds from short term loan |
| |
| |
| |
| |
| |
| |
( us-gaap:ProceedsFromShortTermDebt ) |
| |
| |
| |
| |
| |
| |
Weighted average short-term loan balance |
| |
| |
| |
| |
| |
| |
( us-gaap:ShorttermDebtAverageOutstandingAmount ) |
| |
| |
| |
| |
| |
| |
Interest expense |
| |
| |
| |
| |
| |
| |
( us-gaap:InterestExpenseDebt ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Bank Loans Payable (Details Narrative) (USD $) |
|
|
|
0 Months Ended |
|
3 Months Ended |
( us-gaap:DebtDisclosureAbstract ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Mar. 24, 2015 |
Mar. 24, 2015 |
Oct. 24, 2015 |
Oct. 24, 2015 |
Jun. 30, 2019 |
( us-gaap:TypeOfArrangementAxis ) |
|
|
|
|
|
|
|
390M RMB Loan [Member] |
RMB 50M Loan [Member] |
RMB 50M Loan [Member] RMB [Member] |
RMB 50M Loan [Member] |
RMB 50M Loan [Member] |
50M RMB Loan [Member] |
( us-gaap:ArrangementsAndNonarrangementTransactionsMember ) |
|
|
|
|
|
|
Loan term |
| |
| |
| |
P5Y | |
| |
| |
( us-gaap:DebtInstrumentTerm ) |
| |
| |
| |
| |
| |
| |
Bank loans payable |
| |
7,277,597 | |
50,000,000 | |
| |
| |
| |
( us-gaap:LoansPayableToBank ) |
| |
| |
| |
| |
| |
| |
Loan interest float rate |
| |
1.20 | |
| |
| |
| |
| |
( custom:LoanInterestFloatRate [Extension] ) |
| |
| |
| |
| |
| |
| |
Loan interest rate per annum |
| |
| |
| |
| |
0.049 | |
| |
( us-gaap:DebtInstrumentInterestRateStatedPercentage ) |
| |
| |
| |
| |
| |
| |
Debt effective interest rate |
| |
| |
| |
| |
| |
0.0588 | |
( us-gaap:DebtInstrumentInterestRateBasisForEffectiveRate ) |
| |
| |
| |
| |
| |
| |
Loan maturity date |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentMaturityDate ) |
| |
| |
| |
| |
| |
| |
Loan maturity date, description |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentMaturityDateDescription ) |
| |
| |
| |
| |
| |
| |
Repayment of loan |
| |
| |
| |
| |
| |
| |
( us-gaap:RepaymentsOfDebt ) |
| |
| |
| |
| |
| |
| |
Unpaid principle and interest amount |
| |
| |
| |
| |
| |
| |
( custom:UnpaidPrincipleAndInterestAmount [Extension] ) |
| |
| |
| |
| |
| |
| |
Area of land |
18,650 | |
| |
| |
| |
| |
| |
( us-gaap:AreaOfLand ) |
| |
| |
| |
| |
| |
| |
Rental properties owned by the company, square feet |
200,747 | |
| |
| |
| |
| |
| |
( custom:RentalPropertiesOwnedByCompanySquareFeet [Extension] ) |
| |
| |
| |
| |
| |
| |
Percentage of damages |
0.20 | |
| |
| |
| |
| |
| |
( custom:PercentageOfDamages [Extension] ) |
| |
| |
| |
| |
| |
| |
Long term borrowing |
| |
| |
| |
| |
| |
| |
( us-gaap:LongTermDebt ) |
| |
| |
| |
| |
| |
| |
Proceeds from short term loan |
| |
| |
| |
| |
| |
| |
( us-gaap:ProceedsFromShortTermDebt ) |
| |
| |
| |
| |
| |
| |
Weighted average short-term loan balance |
| |
| |
| |
| |
| |
| |
( us-gaap:ShorttermDebtAverageOutstandingAmount ) |
| |
| |
| |
| |
| |
| |
Interest expense |
| |
| |
| |
| |
| |
| |
( us-gaap:InterestExpenseDebt ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Bank Loans Payable (Details Narrative) (USD $) |
6 Months Ended |
0 Months Ended |
6 Months Ended |
|
( us-gaap:DebtDisclosureAbstract ) |
|
|
|
|
|
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Mar. 24, 2015 |
Jun. 30, 2019 |
Jun. 30, 2019 |
( us-gaap:TypeOfArrangementAxis ) |
|
|
|
|
|
|
|
50M RMB Loan [Member] |
50M RMB Loan [Member] |
50M RMB Loan [Member] |
RMB 50M Loan [Member] |
RMB 50M Loan [Member] |
50M RMB Loan [Member] |
( us-gaap:ArrangementsAndNonarrangementTransactionsMember ) |
|
|
|
|
|
|
Loan term |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentTerm ) |
| |
| |
| |
| |
| |
| |
Bank loans payable |
| |
| |
| |
| |
| |
| |
( us-gaap:LoansPayableToBank ) |
| |
| |
| |
| |
| |
| |
Loan interest float rate |
| |
| |
| |
| |
| |
| |
( custom:LoanInterestFloatRate [Extension] ) |
| |
| |
| |
| |
| |
| |
Loan interest rate per annum |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentInterestRateStatedPercentage ) |
| |
| |
| |
| |
| |
| |
Debt effective interest rate |
0.0591 | |
0.0590 | |
0.0591 | |
| |
| |
| |
( us-gaap:DebtInstrumentInterestRateBasisForEffectiveRate ) |
| |
| |
| |
| |
| |
| |
Loan maturity date |
| |
| |
| |
2024-07-19 | |
| |
| |
( us-gaap:DebtInstrumentMaturityDate ) |
| |
| |
| |
| |
| |
| |
Loan maturity date, description |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentMaturityDateDescription ) |
| |
| |
| |
| |
| |
| |
Repayment of loan |
| |
| |
| |
| |
| |
| |
( us-gaap:RepaymentsOfDebt ) |
| |
| |
| |
| |
| |
| |
Unpaid principle and interest amount |
| |
| |
| |
| |
126,000 | |
| |
( custom:UnpaidPrincipleAndInterestAmount [Extension] ) |
| |
| |
| |
| |
| |
| |
Area of land |
| |
| |
| |
| |
| |
2,053 | |
( us-gaap:AreaOfLand ) |
| |
| |
| |
| |
| |
| |
Rental properties owned by the company, square feet |
| |
| |
| |
| |
| |
22,098 | |
( custom:RentalPropertiesOwnedByCompanySquareFeet [Extension] ) |
| |
| |
| |
| |
| |
| |
Percentage of damages |
| |
| |
| |
| |
| |
0.20 | |
( custom:PercentageOfDamages [Extension] ) |
| |
| |
| |
| |
| |
| |
Long term borrowing |
| |
| |
| |
| |
| |
| |
( us-gaap:LongTermDebt ) |
| |
| |
| |
| |
| |
| |
Proceeds from short term loan |
| |
| |
| |
| |
| |
| |
( us-gaap:ProceedsFromShortTermDebt ) |
| |
| |
| |
| |
| |
| |
Weighted average short-term loan balance |
| |
| |
| |
| |
| |
| |
( us-gaap:ShorttermDebtAverageOutstandingAmount ) |
| |
| |
| |
| |
| |
| |
Interest expense |
| |
| |
| |
| |
| |
| |
( us-gaap:InterestExpenseDebt ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Bank Loans Payable (Details Narrative) (USD $) |
|
|
|
|
0 Months Ended |
|
( us-gaap:DebtDisclosureAbstract ) |
|
|
|
|
|
|
|
Dec. 21, 2017 |
Dec. 21, 2017 |
Dec. 28, 2017 |
Dec. 28, 2017 |
Dec. 28, 2017 |
Jan. 19, 2018 |
( us-gaap:TypeOfArrangementAxis ) |
|
|
|
|
|
|
|
RMB 23M Loan [Member] |
RMB 23M Loan [Member] RMB [Member] |
RMB 23M Loan [Member] |
RMB 23M Loan [Member] RMB [Member] |
RMB 23M Loan [Member] |
RMB 23M Loan [Member] |
( us-gaap:ArrangementsAndNonarrangementTransactionsMember ) |
|
|
|
|
|
|
Loan term |
| |
| |
| |
| |
P1Y | |
| |
( us-gaap:DebtInstrumentTerm ) |
| |
| |
| |
| |
| |
| |
Bank loans payable |
3,347,694 | |
23,000,000 | |
| |
| |
| |
1,601,071 | |
( us-gaap:LoansPayableToBank ) |
| |
| |
| |
| |
| |
| |
Loan interest float rate |
0.065 | |
| |
| |
| |
| |
| |
( custom:LoanInterestFloatRate [Extension] ) |
| |
| |
| |
| |
| |
| |
Loan interest rate per annum |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentInterestRateStatedPercentage ) |
| |
| |
| |
| |
| |
| |
Debt effective interest rate |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentInterestRateBasisForEffectiveRate ) |
| |
| |
| |
| |
| |
| |
Loan maturity date |
| |
| |
| |
| |
2018-12-20 | |
| |
( us-gaap:DebtInstrumentMaturityDate ) |
| |
| |
| |
| |
| |
| |
Loan maturity date, description |
| |
| |
| |
| |
The term of the loan was one year and was due on December 20, 2018. | |
| |
( us-gaap:DebtInstrumentMaturityDateDescription ) |
| |
| |
| |
| |
| |
| |
Repayment of loan |
| |
| |
| |
| |
| |
| |
( us-gaap:RepaymentsOfDebt ) |
| |
| |
| |
| |
| |
| |
Unpaid principle and interest amount |
| |
| |
| |
| |
| |
| |
( custom:UnpaidPrincipleAndInterestAmount [Extension] ) |
| |
| |
| |
| |
| |
| |
Area of land |
| |
| |
| |
| |
| |
| |
( us-gaap:AreaOfLand ) |
| |
| |
| |
| |
| |
| |
Rental properties owned by the company, square feet |
| |
| |
| |
| |
| |
| |
( custom:RentalPropertiesOwnedByCompanySquareFeet [Extension] ) |
| |
| |
| |
| |
| |
| |
Percentage of damages |
| |
| |
| |
| |
| |
| |
( custom:PercentageOfDamages [Extension] ) |
| |
| |
| |
| |
| |
| |
Long term borrowing |
| |
| |
1,746,623 | |
12,000,000 | |
| |
| |
( us-gaap:LongTermDebt ) |
| |
| |
| |
| |
| |
| |
Proceeds from short term loan |
| |
| |
| |
| |
| |
| |
( us-gaap:ProceedsFromShortTermDebt ) |
| |
| |
| |
| |
| |
| |
Weighted average short-term loan balance |
| |
| |
| |
| |
| |
| |
( us-gaap:ShorttermDebtAverageOutstandingAmount ) |
| |
| |
| |
| |
| |
| |
Interest expense |
| |
| |
| |
| |
| |
| |
( us-gaap:InterestExpenseDebt ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Bank Loans Payable (Details Narrative) (USD $) |
|
0 Months Ended |
|
0 Months Ended |
( us-gaap:DebtDisclosureAbstract ) |
|
|
|
|
|
Jan. 19, 2018 |
Jan. 19, 2018 |
Sep. 27, 2018 |
Sep. 27, 2018 |
Sep. 27, 2018 |
Mar. 26, 2019 |
( us-gaap:TypeOfArrangementAxis ) |
|
|
|
|
|
|
|
RMB 23M Loan [Member] RMB [Member] |
RMB 23M Loan [Member] |
Harbin Bank [Member] |
Harbin Bank [Member] RMB [Member] |
Harbin Bank [Member] |
Harbin Bank [Member] |
( us-gaap:ArrangementsAndNonarrangementTransactionsMember ) |
|
|
|
|
|
|
Loan term |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentTerm ) |
| |
| |
| |
| |
| |
| |
Bank loans payable |
11,000,000 | |
| |
| |
| |
| |
| |
( us-gaap:LoansPayableToBank ) |
| |
| |
| |
| |
| |
| |
Loan interest float rate |
| |
| |
| |
| |
| |
| |
( custom:LoanInterestFloatRate [Extension] ) |
| |
| |
| |
| |
| |
| |
Loan interest rate per annum |
| |
| |
| |
| |
0.0650 | |
| |
( us-gaap:DebtInstrumentInterestRateStatedPercentage ) |
| |
| |
| |
| |
| |
| |
Debt effective interest rate |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentInterestRateBasisForEffectiveRate ) |
| |
| |
| |
| |
| |
| |
Loan maturity date |
| |
| |
2019-09-12 | |
| |
| |
2020-03-11 | |
( us-gaap:DebtInstrumentMaturityDate ) |
| |
| |
| |
| |
| |
| |
Loan maturity date, description |
| |
DVPD may choose to extend the term of the loan after obtaining prior written consent from the Bank at least 15 days prior to the maturity date | |
| |
| |
| |
| |
( us-gaap:DebtInstrumentMaturityDateDescription ) |
| |
| |
| |
| |
| |
| |
Repayment of loan |
| |
| |
| |
| |
| |
| |
( us-gaap:RepaymentsOfDebt ) |
| |
| |
| |
| |
| |
| |
Unpaid principle and interest amount |
| |
| |
| |
| |
| |
| |
( custom:UnpaidPrincipleAndInterestAmount [Extension] ) |
| |
| |
| |
| |
| |
| |
Area of land |
| |
| |
| |
| |
| |
| |
( us-gaap:AreaOfLand ) |
| |
| |
| |
| |
| |
| |
Rental properties owned by the company, square feet |
| |
| |
| |
| |
| |
| |
( custom:RentalPropertiesOwnedByCompanySquareFeet [Extension] ) |
| |
| |
| |
| |
| |
| |
Percentage of damages |
| |
| |
| |
| |
| |
| |
( custom:PercentageOfDamages [Extension] ) |
| |
| |
| |
| |
| |
| |
Long term borrowing |
| |
| |
| |
| |
| |
| |
( us-gaap:LongTermDebt ) |
| |
| |
| |
| |
| |
| |
Proceeds from short term loan |
| |
| |
2,891,727 | |
19,900,000 | |
| |
1,490,452 | |
( us-gaap:ProceedsFromShortTermDebt ) |
| |
| |
| |
| |
| |
| |
Weighted average short-term loan balance |
| |
| |
| |
| |
| |
| |
( us-gaap:ShorttermDebtAverageOutstandingAmount ) |
| |
| |
| |
| |
| |
| |
Interest expense |
| |
| |
| |
| |
| |
| |
( us-gaap:InterestExpenseDebt ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Bank Loans Payable (Details Narrative) (USD $) |
|
3 Months Ended |
6 Months Ended |
( us-gaap:DebtDisclosureAbstract ) |
|
|
|
|
Mar. 26, 2019 |
Mar. 26, 2019 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
( us-gaap:TypeOfArrangementAxis ) |
|
|
|
|
|
|
|
Harbin Bank [Member] RMB [Member] |
Harbin Bank [Member] |
|
|
|
|
( us-gaap:ArrangementsAndNonarrangementTransactionsMember ) |
|
|
|
|
|
|
Loan term |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentTerm ) |
| |
| |
| |
| |
| |
| |
Bank loans payable |
| |
| |
| |
| |
| |
| |
( us-gaap:LoansPayableToBank ) |
| |
| |
| |
| |
| |
| |
Loan interest float rate |
| |
| |
| |
| |
| |
| |
( custom:LoanInterestFloatRate [Extension] ) |
| |
| |
| |
| |
| |
| |
Loan interest rate per annum |
| |
0.0650 | |
| |
| |
| |
| |
( us-gaap:DebtInstrumentInterestRateStatedPercentage ) |
| |
| |
| |
| |
| |
| |
Debt effective interest rate |
| |
| |
0.0650 | |
0.0650 | |
0.0648 | |
0.0650 | |
( us-gaap:DebtInstrumentInterestRateBasisForEffectiveRate ) |
| |
| |
| |
| |
| |
| |
Loan maturity date |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentMaturityDate ) |
| |
| |
| |
| |
| |
| |
Loan maturity date, description |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentMaturityDateDescription ) |
| |
| |
| |
| |
| |
| |
Repayment of loan |
| |
| |
| |
| |
| |
| |
( us-gaap:RepaymentsOfDebt ) |
| |
| |
| |
| |
| |
| |
Unpaid principle and interest amount |
| |
| |
| |
| |
| |
| |
( custom:UnpaidPrincipleAndInterestAmount [Extension] ) |
| |
| |
| |
| |
| |
| |
Area of land |
| |
| |
| |
| |
| |
| |
( us-gaap:AreaOfLand ) |
| |
| |
| |
| |
| |
| |
Rental properties owned by the company, square feet |
| |
| |
| |
| |
| |
| |
( custom:RentalPropertiesOwnedByCompanySquareFeet [Extension] ) |
| |
| |
| |
| |
| |
| |
Percentage of damages |
| |
| |
| |
| |
| |
| |
( custom:PercentageOfDamages [Extension] ) |
| |
| |
| |
| |
| |
| |
Long term borrowing |
| |
| |
| |
| |
| |
| |
( us-gaap:LongTermDebt ) |
| |
| |
| |
| |
| |
| |
Proceeds from short term loan |
10,240,000 | |
| |
| |
| |
| |
| |
( us-gaap:ProceedsFromShortTermDebt ) |
| |
| |
| |
| |
| |
| |
Weighted average short-term loan balance |
| |
| |
1,951,524 | |
921,051 | |
3,560,136 | |
1,639,604 | |
( us-gaap:ShorttermDebtAverageOutstandingAmount ) |
| |
| |
| |
| |
| |
| |
Interest expense |
| |
| |
1,055,274 | |
1,055,881 | |
2,098,494 | |
2,093,545 | |
( us-gaap:InterestExpenseDebt ) |
| |
| |
| |
| |
| |
| |
|
(End Disclosure - Bank Loans Payable (Details Narrative)) |
|
Disclosure - Bank Loans Payable - Schedule of Loans Payable (Details) |
Disclosure - Bank Loans Payable - Schedule of Loans Payable (Details) (USD $) |
|
|
|
|
|
|
( us-gaap:DebtDisclosureAbstract ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
( us-gaap:DebtInstrumentAxis ) |
|
|
|
|
|
|
|
Interest at 5.46% per annum, payable 07/18/2027 [Member] |
Interest at 7.08% per annum, payable 07/19/2024 [Member] |
Interest at 6.50% per annum, payable 12/20/2018 [Member] |
Interest at 6.50% per annum, payable 12/20/2018 [Member] |
Interest at 6.50% per annum, payable 09/12/2019 [Member] |
Interest at 6.50% per annum, payable 03/11/2020 [Member] |
( us-gaap:DebtInstrumentNameDomain ) |
|
|
|
|
|
|
Total Principal |
56,255,822 | |
4,158,627 | |
1,746,623 | |
1,601,071 | |
2,896,483 | |
1,490,453 | |
( us-gaap:LongTermDebt ) |
| |
| |
| |
| |
| |
| |
Less: Unamortized debt issuance cost in connection with Harbin Bank Loans |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet ) |
| |
| |
| |
| |
| |
| |
Total bank loans payable |
| |
| |
| |
| |
| |
| |
( us-gaap:LoansPayableToBank ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Bank Loans Payable - Schedule of Loans Payable (Details) (USD $) |
|
|
|
|
|
|
( us-gaap:DebtDisclosureAbstract ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
( us-gaap:DebtInstrumentAxis ) |
|
|
|
|
|
|
|
|
Interest at 5.46% per annum, payable 07/18/2027 [Member] |
Interest at 7.08% per annum, payable 07/19/2024 [Member] |
Interest at 6.50% per annum, payable 12/20/2018 [Member] |
Interest at 6.50% per annum, payable 12/20/2018 [Member] |
Interest at 6.50% per annum, payable 09/12/2019 [Member] |
( us-gaap:DebtInstrumentNameDomain ) |
|
|
|
|
|
|
Total Principal |
68,149,079 | |
56,267,993 | |
4,348,878 | |
1,744,744 | |
1,599,349 | |
2,893,367 | |
( us-gaap:LongTermDebt ) |
| |
| |
| |
| |
| |
| |
Less: Unamortized debt issuance cost in connection with Harbin Bank Loans |
(368,291 | ) |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet ) |
| |
| |
| |
| |
| |
| |
Total bank loans payable |
67,780,788 | |
| |
| |
| |
| |
| |
( us-gaap:LoansPayableToBank ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Bank Loans Payable - Schedule of Loans Payable (Details) (USD $) |
|
|
( us-gaap:DebtDisclosureAbstract ) |
|
|
|
Dec. 31, 2018 |
Dec. 31, 2018 |
( us-gaap:DebtInstrumentAxis ) |
|
|
|
Interest at 6.50% per annum, payable 03/11/2020 [Member] |
|
( us-gaap:DebtInstrumentNameDomain ) |
|
|
Total Principal |
— | |
66,854,331 | |
( us-gaap:LongTermDebt ) |
| |
| |
Less: Unamortized debt issuance cost in connection with Harbin Bank Loans |
| |
(395,397 | ) |
( us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet ) |
| |
| |
Total bank loans payable |
| |
66,458,934 | |
( us-gaap:LoansPayableToBank ) |
| |
| |
|
(End Disclosure - Bank Loans Payable - Schedule of Loans Payable (Details)) |
|
Disclosure - Bank Loans Payable - Schedule of Loans Payable (Details) (Parenthetical) |
Disclosure - Bank Loans Payable - Schedule of Loans Payable (Details) (Parenthetical) (USD $) |
|
|
|
|
|
|
( us-gaap:DebtDisclosureAbstract ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
( us-gaap:DebtInstrumentAxis ) |
|
|
|
|
|
|
|
Interest at 5.46% per annum, payable 07/18/2027 [Member] |
Interest at 7.08% per annum, payable 07/19/2024 [Member] |
Interest at 6.50% per annum, payable 12/20/2018 [Member] |
Interest at 6.50% per annum, payable 12/20/2018 [Member] |
Interest at 6.50% per annum, payable 09/12/2019 [Member] |
Interest at 6.50% per annum, payable 03/11/2020 [Member] |
( us-gaap:DebtInstrumentNameDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Loans payable interest rate percentage |
0.0546 | |
0.0708 | |
0.0650 | |
0.0650 | |
0.0650 | |
0.0650 | |
( custom:LoansPayableInterestRatePercentage [Extension] ) |
| |
| |
| |
| |
| |
| |
Loans payable, date |
| |
| |
| |
| |
| |
| |
( custom:LoansPayableDate [Extension] ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Bank Loans Payable - Schedule of Loans Payable (Details) (Parenthetical) (USD $) |
6 Months Ended |
( us-gaap:DebtDisclosureAbstract ) |
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
( us-gaap:DebtInstrumentAxis ) |
|
|
|
|
|
|
|
Interest at 5.46% per annum, payable 07/18/2027 [Member] |
Interest at 7.08% per annum, payable 07/19/2024 [Member] |
Interest at 6.50% per annum, payable 12/20/2018 [Member] |
Interest at 6.50% per annum, payable 12/20/2018 [Member] |
Interest at 6.50% per annum, payable 09/27/2019 [Member] |
Interest at 6.50% per annum, payable 03/11/2020 [Member] |
( us-gaap:DebtInstrumentNameDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Loans payable interest rate percentage |
| |
| |
| |
| |
| |
| |
( custom:LoansPayableInterestRatePercentage [Extension] ) |
| |
| |
| |
| |
| |
| |
Loans payable, date |
2027-07-18 | |
2024-07-19 | |
2018-12-20 | |
2018-12-20 | |
2019-09-12 | |
2020-03-11 | |
( custom:LoansPayableDate [Extension] ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Bank Loans Payable - Schedule of Loans Payable (Details) (Parenthetical) (USD $) |
|
|
|
|
|
|
( us-gaap:DebtDisclosureAbstract ) |
|
|
|
|
|
|
|
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
( us-gaap:DebtInstrumentAxis ) |
|
|
|
|
|
|
|
Interest at 5.46% per annum, payable 07/18/2027 [Member] |
Interest at 7.08% per annum, payable 07/19/2024 [Member] |
Interest at 6.50% per annum, payable 12/20/2018 [Member] |
Interest at 6.50% per annum, payable 12/20/2018 [Member] |
Interest at 6.50% per annum, payable 09/12/2019 [Member] |
Interest at 6.50% per annum, payable 03/11/2020 [Member] |
( us-gaap:DebtInstrumentNameDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Loans payable interest rate percentage |
0.0546 | |
0.0708 | |
0.0650 | |
0.0650 | |
0.0650 | |
0.0650 | |
( custom:LoansPayableInterestRatePercentage [Extension] ) |
| |
| |
| |
| |
| |
| |
Loans payable, date |
| |
| |
| |
| |
| |
| |
( custom:LoansPayableDate [Extension] ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Bank Loans Payable - Schedule of Loans Payable (Details) (Parenthetical) (USD $) |
12 Months Ended |
( us-gaap:DebtDisclosureAbstract ) |
|
|
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
( us-gaap:DebtInstrumentAxis ) |
|
|
|
|
|
|
|
Interest at 5.46% per annum, payable 07/18/2027 [Member] |
Interest at 7.08% per annum, payable 07/19/2024 [Member] |
Interest at 6.50% per annum, payable 12/20/2018 [Member] |
Interest at 6.50% per annum, payable 12/20/2018 [Member] |
Interest at 6.50% per annum, payable 09/12/2019 [Member] |
Interest at 6.50% per annum, payable 03/11/2020 [Member] |
( us-gaap:DebtInstrumentNameDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Loans payable interest rate percentage |
| |
| |
| |
| |
| |
| |
( custom:LoansPayableInterestRatePercentage [Extension] ) |
| |
| |
| |
| |
| |
| |
Loans payable, date |
2027-07-18 | |
2024-07-19 | |
2018-12-20 | |
2018-12-20 | |
2019-09-12 | |
2020-03-11 | |
( custom:LoansPayableDate [Extension] ) |
| |
| |
| |
| |
| |
| |
|
(End Disclosure - Bank Loans Payable - Schedule of Loans Payable (Details) (Parenthetical)) |
|
Disclosure - Bank Loans Payable - Schedule of Debt Maturity of Outstanding Bank Loan (Details) |
Disclosure - Bank Loans Payable - Schedule of Debt Maturity of Outstanding Bank Loan (Details) (USD $) |
|
( us-gaap:DebtDisclosureAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
2020 |
56,255,822 | |
( us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths ) |
| |
2021 |
4,158,627 | |
( us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo ) |
| |
2022 |
1,746,623 | |
( us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree ) |
| |
2023 |
1,601,071 | |
( us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour ) |
| |
2024 |
2,896,483 | |
( us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive ) |
| |
Thereafter |
1,490,453 | |
( us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive ) |
| |
Total debt maturities |
68,149,079 | |
( us-gaap:LongTermDebt ) |
| |
Net unamortized debt issuance costs |
(368,291 | ) |
( us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet ) |
| |
Total debt obligations |
67,780,788 | |
( us-gaap:LoansPayableToBank ) |
| |
|
(End Disclosure - Bank Loans Payable - Schedule of Debt Maturity of Outstanding Bank Loan (Details)) |
|
Disclosure - Property Financing Agreements Payable (Details Narrative) |
Disclosure - Property Financing Agreements Payable (Details Narrative) (USD $) |
|
6 Months Ended |
|
|
|
6 Months Ended |
( custom:PropertyFinancingAgreementPayableDetailsNarrativeAbstract [Extension] ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Dec. 31, 2018 |
Dec. 29, 2017 |
Jun. 30, 2019 |
( us-gaap:TypeOfArrangementAxis ) |
|
|
|
|
|
|
|
Buy-Back Financing Agreements [Member] Unrelated Individuals [Member] |
Buy-Back Financing Agreements [Member] Unrelated Individuals [Member] |
Buy-back Payable [Member] |
Buy-back Payable [Member] |
Strategy Cooperation Agreement [Member] |
Strategy Cooperation Agreement [Member] |
( us-gaap:ArrangementsAndNonarrangementTransactionsMember ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Rental properties owned by the company, square feet |
216,230 | |
| |
| |
| |
| |
| |
( us-gaap:AreaOfLand ) |
| |
| |
| |
| |
| |
| |
Rental properties owned by the company, square meters |
20,096 | |
| |
| |
| |
| |
| |
( custom:RentalPropertiesOwnedByCompanySquareMeters [Extension] ) |
| |
| |
| |
| |
| |
| |
Percentage of rental properties |
| |
0.15 | |
| |
| |
| |
| |
( custom:PercentageOfRentalProperties [Extension] ) |
| |
| |
| |
| |
| |
| |
Description on vesting period |
| |
The date as of buy-back options ranged from 2014 to 2018. | |
| |
| |
| |
| |
( custom:DescriptionOnVestingPeriod [Extension] ) |
| |
| |
| |
| |
| |
| |
Other payable |
| |
| |
4,207,403 | |
4,186,382 | |
| |
| |
( us-gaap:OtherLiabilities ) |
| |
| |
| |
| |
| |
| |
Percentage of interest agreed to pay |
| |
| |
| |
| |
0.08 | |
| |
( custom:PercentageOfInterestAgreedToPay [Extension] ) |
| |
| |
| |
| |
| |
| |
Number of properties sold |
| |
| |
| |
| |
| |
319 | |
( custom:NumberOfPropertiesSold [Extension] ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Property Financing Agreements Payable (Details Narrative) (USD $) |
|
( custom:PropertyFinancingAgreementPayableDetailsNarrativeAbstract [Extension] ) |
|
|
Jun. 30, 2019 |
( us-gaap:TypeOfArrangementAxis ) |
|
|
Strategy Cooperation Agreement [Member] |
( us-gaap:ArrangementsAndNonarrangementTransactionsMember ) |
|
|
| |
|
| |
Rental properties owned by the company, square feet |
86,244 | |
( us-gaap:AreaOfLand ) |
| |
Rental properties owned by the company, square meters |
8,013 | |
( custom:RentalPropertiesOwnedByCompanySquareMeters [Extension] ) |
| |
Percentage of rental properties |
| |
( custom:PercentageOfRentalProperties [Extension] ) |
| |
Description on vesting period |
| |
( custom:DescriptionOnVestingPeriod [Extension] ) |
| |
Other payable |
| |
( us-gaap:OtherLiabilities ) |
| |
Percentage of interest agreed to pay |
| |
( custom:PercentageOfInterestAgreedToPay [Extension] ) |
| |
Number of properties sold |
| |
( custom:NumberOfPropertiesSold [Extension] ) |
| |
|
(End Disclosure - Property Financing Agreements Payable (Details Narrative)) |
|
Disclosure - Property Financing Agreements Payable - Schedule of Detailed Information on Property Financing Agreement Payable (Details) |
Disclosure - Property Financing Agreements Payable - Schedule of Detailed Information on Property Financing Agreement Payable (Details) (USD $) |
|
|
|
|
|
|
( custom:PropertyFinancingAgreementPayableDetailsNarrativeAbstract [Extension] ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Dec. 31, 2018 |
Dec. 31, 2018 |
( srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis ) |
|
|
|
|
|
|
|
Buy-Back Financing Agreements [Member] |
SML Financing Agreements [Member] |
Net Unamortized SML Financing Cost [Member] |
|
Purchase-Back Financing Agreements [Member] |
SML Financing Agreements [Member] |
( srt:MortgageLoansOnRealEstateNamePropertyTypeDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Total property financing agreements, net |
46,535,950 | |
34,816,640 | |
(45,011 | ) |
81,307,579 | |
46,438,364 | |
33,529,953 | |
( us-gaap:FinancialServicesLiabilities ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Property Financing Agreements Payable - Schedule of Detailed Information on Property Financing Agreement Payable (Details) (USD $) |
|
|
( custom:PropertyFinancingAgreementPayableDetailsNarrativeAbstract [Extension] ) |
|
|
|
Dec. 31, 2018 |
Dec. 31, 2018 |
( srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis ) |
|
|
|
Net Unamortized SML Financing Cost [Member] |
|
( srt:MortgageLoansOnRealEstateNamePropertyTypeDomain ) |
|
|
|
| |
| |
|
| |
| |
Total property financing agreements, net |
(63,697 | ) |
79,904,620 | |
( us-gaap:FinancialServicesLiabilities ) |
| |
| |
|
(End Disclosure - Property Financing Agreements Payable - Schedule of Detailed Information on Property Financing Agreement Payable (Details)) |
|
Disclosure - Property Financing Agreements Payable - Schedule of Property Buy-back Financing Agreements Payable (Details) |
Disclosure - Property Financing Agreements Payable - Schedule of Property Buy-back Financing Agreements Payable (Details) (USD $) |
|
6 Months Ended |
|
6 Months Ended |
|
6 Months Ended |
( custom:PropertyFinancingAgreementPayableDetailsNarrativeAbstract [Extension] ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
( us-gaap:TypeOfArrangementAxis ) |
|
|
|
|
|
|
|
Effective Agreements [Member] |
Effective Agreements [Member] |
Past Due Agreements [Member] |
Past Due Agreements [Member] |
Financing Agreements [Member] |
Financing Agreements [Member] |
( us-gaap:ArrangementsAndNonarrangementTransactionsMember ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Units |
7 | |
| |
486 | |
| |
493 | |
| |
( custom:PropertiesUnits [Extension] ) |
| |
| |
| |
| |
| |
| |
Square Feet |
2,454 | |
| |
127,552 | |
| |
130,006 | |
| |
( us-gaap:AreaOfLand ) |
| |
| |
| |
| |
| |
| |
Selling Price |
| |
867,155 | |
| |
37,236,507 | |
| |
38,103,662 | |
( custom:SellingPrice [Extension] ) |
| |
| |
| |
| |
| |
| |
Buy-Back Price |
| |
1,184,997 | |
| |
45,386,804 | |
| |
46,571,801 | |
( custom:BuybackPrice [Extension] ) |
| |
| |
| |
| |
| |
| |
Property Financing Agreement Payable |
1,145,031 | |
| |
45,390,919 | |
| |
46,535,950 | |
| |
( custom:PropertyFinancingPayable [Extension] ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Property Financing Agreements Payable - Schedule of Property Buy-back Financing Agreements Payable (Details) (USD $) |
|
12 Months Ended |
|
12 Months Ended |
|
12 Months Ended |
( custom:PropertyFinancingAgreementPayableDetailsNarrativeAbstract [Extension] ) |
|
|
|
|
|
|
|
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
( us-gaap:TypeOfArrangementAxis ) |
|
|
|
|
|
|
|
Effective Agreements [Member] |
Effective Agreements [Member] |
Past Due Agreements [Member] |
Past Due Agreements [Member] |
Financing Agreements [Member] |
Financing Agreements [Member] |
( us-gaap:ArrangementsAndNonarrangementTransactionsMember ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Units |
14 | |
| |
479 | |
| |
493 | |
| |
( custom:PropertiesUnits [Extension] ) |
| |
| |
| |
| |
| |
| |
Square Feet |
5,047 | |
| |
124,959 | |
| |
130,006 | |
| |
( us-gaap:AreaOfLand ) |
| |
| |
| |
| |
| |
| |
Selling Price |
| |
1,765,972 | |
| |
36,322,719 | |
| |
38,088,691 | |
( custom:SellingPrice [Extension] ) |
| |
| |
| |
| |
| |
| |
Buy-Back Price |
| |
2,501,614 | |
| |
44,030,955 | |
| |
46,532,569 | |
( custom:BuybackPrice [Extension] ) |
| |
| |
| |
| |
| |
| |
Property Financing Agreement Payable |
2,420,513 | |
| |
44,017,851 | |
| |
46,438,364 | |
| |
( custom:PropertyFinancingPayable [Extension] ) |
| |
| |
| |
| |
| |
| |
|
(End Disclosure - Property Financing Agreements Payable - Schedule of Property Buy-back Financing Agreements Payable (Details)) |
|
Disclosure - Property Financing Agreements Payable - Schedule of Maturity for Financing Agreement Payable (Details) |
Disclosure - Property Financing Agreements Payable - Schedule of Maturity for Financing Agreement Payable (Details) (USD $) |
|
|
|
|
|
|
( custom:PropertyFinancingAgreementPayableAbstract [Extension] ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
( srt:StatementScenarioAxis ) |
|
|
|
|
|
|
|
Past due as of 06/30/2019 [Member] |
6/30/2020 [Member] |
6/30/2021 [Member] |
6/30/2022 [Member] |
6/30/2023 [Member] |
|
( srt:ScenarioUnspecifiedDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Units |
486 | |
3 | |
2 | |
2 | |
— | |
493 | |
( custom:PropertiesUnits [Extension] ) |
| |
| |
| |
| |
| |
| |
Buy-back amount |
| |
| |
| |
| |
| |
| |
( custom:BuybackPrice [Extension] ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Property Financing Agreements Payable - Schedule of Maturity for Financing Agreement Payable (Details) (USD $) |
6 Months Ended |
( custom:PropertyFinancingAgreementPayableAbstract [Extension] ) |
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
( srt:StatementScenarioAxis ) |
|
|
|
|
|
|
|
Past due as of 06/30/2019 [Member] |
6/30/2020 [Member] |
6/30/2021 [Member] |
6/30/2022 [Member] |
6/30/2023 [Member] |
|
( srt:ScenarioUnspecifiedDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Units |
| |
| |
| |
| |
| |
| |
( custom:PropertiesUnits [Extension] ) |
| |
| |
| |
| |
| |
| |
Buy-back amount |
45,386,804 | |
561,408 | |
367,067 | |
256,522 | |
— | |
46,571,801 | |
( custom:BuybackPrice [Extension] ) |
| |
| |
| |
| |
| |
| |
|
(End Disclosure - Property Financing Agreements Payable - Schedule of Maturity for Financing Agreement Payable (Details)) |
|
Disclosure - Property Financing Agreements Payable - Schedule of Financing Agreements (Details) |
Disclosure - Property Financing Agreements Payable - Schedule of Financing Agreements (Details) (USD $) |
|
|
( custom:PropertyFinancingAgreementPayableAbstract [Extension] ) |
|
|
|
Jun. 30, 2019 |
Dec. 31, 2018 |
|
|
|
|
|
|
|
|
|
Buy-back related cases: including historical buy-back remaining balance |
27,024,862 | |
26,995,786 | |
( custom:BuybackRelatedCasesIncludingHistoricalBuybackRemainingBalance [Extension] ) |
| |
| |
Lease-back related cases: including historical lease-back payable remaining balance |
4,073,465 | |
4,069,082 | |
( custom:LeasebackRelatedCasesIncludingHistoricalLeasebackPayableRemainingBalance [Extension] ) |
| |
| |
Accrued interest payable to SML |
3,718,313 | |
2,465,085 | |
( custom:AccruedInterestPayable [Extension] ) |
| |
| |
Total SML financing agreements |
34,816,640 | |
33,529,953 | |
( us-gaap:SaleLeasebackTransactionAmountDueUnderFinancingArrangement ) |
| |
| |
|
(End Disclosure - Property Financing Agreements Payable - Schedule of Financing Agreements (Details)) |
|
Disclosure - Account Payable and Accrued Liabilities (Details Narrative) |
Disclosure - Account Payable and Accrued Liabilities (Details Narrative) (USD $) |
|
|
( PayablesAndAccrualsAbstract ) |
|
|
|
Jun. 30, 2019 |
Dec. 31, 2018 |
|
|
|
|
|
|
|
|
|
Tax payables |
853,173 | |
584,693 | |
( us-gaap:TaxesPayableCurrentAndNoncurrent ) |
| |
| |
Accrued tax penalties payable |
183,955 | |
90,473 | |
( us-gaap:IncomeTaxExaminationPenaltiesAccrued ) |
| |
| |
|
(End Disclosure - Account Payable and Accrued Liabilities (Details Narrative)) |
|
Disclosure - Account Payable and Accrued Liabilities - Schedule of Account Payable and Accrued Liabilities (Details) |
Disclosure - Account Payable and Accrued Liabilities - Schedule of Account Payable and Accrued Liabilities (Details) (USD $) |
|
|
( us-gaap:PayablesAndAccrualsAbstract ) |
|
|
|
Jun. 30, 2019 |
Dec. 31, 2018 |
|
|
|
|
|
|
|
|
|
Accounts payable |
3,307,973 | |
2,839,967 | |
( us-gaap:AccountsPayableCurrentAndNoncurrent ) |
| |
| |
Wages and employee benefits payable |
511,121 | |
370,151 | |
( us-gaap:EmployeeRelatedLiabilitiesCurrentAndNoncurrent ) |
| |
| |
Taxes payable |
853,173 | |
584,693 | |
( us-gaap:TaxesPayableCurrentAndNoncurrent ) |
| |
| |
VAT payable |
659,638 | |
455,962 | |
( custom:VatPayable [Extension] ) |
| |
| |
Bank loan interest payable |
1,310,181 | |
496,831 | |
( custom:BankLoanInterestPayable [Extension] ) |
| |
| |
Total accounts payable and accrued liabilities |
6,642,086 | |
4,747,604 | |
( us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent ) |
| |
| |
|
(End Disclosure - Account Payable and Accrued Liabilities - Schedule of Account Payable and Accrued Liabilities (Details)) |
|
Disclosure - Account Payable and Accrued Liabilities - Schedule of Account Payable and Accrued Liabilities (Details) (Parenthetical) |
Disclosure - Account Payable and Accrued Liabilities - Schedule of Account Payable and Accrued Liabilities (Details) (Parenthetical) (USD $) |
|
|
( us-gaap:PayablesAndAccrualsAbstract ) |
|
|
|
Jun. 30, 2019 |
Dec. 31, 2018 |
|
|
|
|
|
|
|
|
|
Individual income taxes |
25,773 | |
30,674 | |
( custom:IndividualIncomeTax [Extension] ) |
| |
| |
Business taxes |
161,964 | |
136,725 | |
( custom:BusinessTaxes [Extension] ) |
| |
| |
Property and land use taxes |
392,996 | |
253,226 | |
( custom:PropertyAndLandUseTaxes [Extension] ) |
| |
| |
Tax penalties |
183,955 | |
90,473 | |
( us-gaap:IncomeTaxExaminationPenaltiesAccrued ) |
| |
| |
Other surcharge and fees |
88,485 | |
73,595 | |
( custom:OtherSurchargesAndFees [Extension] ) |
| |
| |
Total |
853,173 | |
584,693 | |
( us-gaap:TaxesPayableCurrentAndNoncurrent ) |
| |
| |
|
(End Disclosure - Account Payable and Accrued Liabilities - Schedule of Account Payable and Accrued Liabilities (Details) (Parenthetical)) |
|
Disclosure - Lease Liabilities (Details Narrative) |
Disclosure - Lease Liabilities (Details Narrative) (USD $) |
|
|
3 Months Ended |
6 Months Ended |
( us-gaap:LeasesAbstract ) |
|
|
|
|
|
Jun. 30, 2019 |
Dec. 31, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated unpaid lease-back liabilities lease-back liabilities |
5,520,308 | |
5,456,883 | |
| |
| |
| |
| |
( custom:LeasebackLiabilities [Extension] ) |
| |
| |
| |
| |
| |
| |
Lease period |
P10Y | |
| |
| |
| |
| |
| |
( us-gaap:LesseeFinanceLeaseTermOfContract1 ) |
| |
| |
| |
| |
| |
| |
Amortization of ROU expense |
| |
| |
27,685 | |
29,970 | |
42,366 | |
73,089 | |
( us-gaap:FinanceLeaseRightOfUseAssetAmortization ) |
| |
| |
| |
| |
| |
| |
Financing lease, interest expense |
| |
| |
1,170 | |
29,970 | |
1,973 | |
32,612 | |
( us-gaap:FinanceLeaseInterestExpense ) |
| |
| |
| |
| |
| |
| |
Financing lease expense |
| |
| |
2,071 | |
124,000 | |
5,038 | |
3,536,610 | |
( custom:FinancingLeaseExpense [Extension] ) |
| |
| |
| |
| |
| |
| |
Operating lease expense |
| |
| |
122,731 | |
147,787 | |
298,141 | |
229,827 | |
( us-gaap:OperatingLeaseExpense ) |
| |
| |
| |
| |
| |
| |
Short term lease rent expense |
| |
| |
44,214 | |
65,941 | |
141,169 | |
147,981 | |
( us-gaap:ShortTermLeasePayments ) |
| |
| |
| |
| |
| |
| |
Operating lease agreement term |
| |
| |
| |
| |
2020-03-26 | |
| |
( us-gaap:LeaseExpirationDate1 ) |
| |
| |
| |
| |
| |
| |
|
(End Disclosure - Lease Liabilities (Details Narrative)) |
|
Disclosure - Lease Liabilities - Schedule of Lease Liabilities Payable (Details) |
Disclosure - Lease Liabilities - Schedule of Lease Liabilities Payable (Details) (USD $) |
|
|
|
|
|
|
( us-gaap:LeasesAbstract ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Dec. 31, 2018 |
Dec. 31, 2018 |
( us-gaap:LeaseArrangementTypeAxis ) |
|
|
|
|
|
|
|
Financing Leases [Member] Property Group B [Member] |
Financing Leases [Member] Property Group D [Member] |
Operating Lease [Member] Office Rent [Member] |
|
Financing Leases [Member] Property Group B [Member] |
Financing Leases [Member] Property Group D [Member] |
( us-gaap:LeaseArrangementTypeDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Lease units |
3 | |
4 | |
1 | |
8 | |
4 | |
4 | |
( custom:LeaseUnits1 [Extension] ) |
| |
| |
| |
| |
| |
| |
Total Lease Payable |
127,005 | |
27,943 | |
241,733 | |
396,681 | |
176,902 | |
38,878 | |
( us-gaap:CapitalLeaseObligations ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Lease Liabilities - Schedule of Lease Liabilities Payable (Details) (USD $) |
|
|
( us-gaap:LeasesAbstract ) |
|
|
|
Dec. 31, 2018 |
Dec. 31, 2018 |
( us-gaap:LeaseArrangementTypeAxis ) |
|
|
|
Operating Lease [Member] Office Rent [Member] |
|
( us-gaap:LeaseArrangementTypeDomain ) |
|
|
|
| |
| |
|
| |
| |
Lease units |
1 | |
9 | |
( custom:LeaseUnits1 [Extension] ) |
| |
| |
Total Lease Payable |
396,345 | |
612,125 | |
( us-gaap:CapitalLeaseObligations ) |
| |
| |
|
(End Disclosure - Lease Liabilities - Schedule of Lease Liabilities Payable (Details)) |
|
Disclosure - Lease Liabilities - Schedule of Future Minimum Lease Payables (Details) |
Disclosure - Lease Liabilities - Schedule of Future Minimum Lease Payables (Details) (USD $) |
|
( us-gaap:LeasesAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
Lease Units, June 30, 2020 |
7 | [1] |
( custom:LeaseUnitsTwo [Extension] ) |
| |
Lease Units, June 30, 2021 |
2 | [1] |
( custom:LeaseUnitsThree [Extension] ) |
| |
|
| |
|
| |
Minimum Lease Payable, Square Feet, June 30, 2020 |
1,485 | |
( custom:MinimumLeasePayableSquareFeetTwo [Extension] ) |
| |
Minimum Lease Payable, Square Feet, June 30, 2021 |
108 | |
( custom:MinimumLeasePayableSquareFeetThree [Extension] ) |
| |
|
| |
|
| |
Minimum Lease Payable, June 30, 2020 |
17,046 | |
( us-gaap:MinimumLeasePaymentsSaleLeasebackTransactionsWithinTwoYears ) |
| |
Minimum Lease Payable, June 30, 2021 |
461 | |
( us-gaap:MinimumLeasePaymentsSaleLeasebackTransactionsWithinThreeYears ) |
| |
Total future minimum lease payable |
17,507 | |
( us-gaap:MinimumLeasePaymentsSaleLeasebackTransactions ) |
| |
Footnotes: |
1. | | Lease units represent total leases during the periods |
|
(End Disclosure - Lease Liabilities - Schedule of Future Minimum Lease Payables (Details)) |
|
Disclosure - Lease Liabilities - Schedule of Non-cancelable Schedule of Operating Lease for Future Minimum Rental Payments (Details) |
Disclosure - Lease Liabilities - Schedule of Non-cancelable Schedule of Operating Lease for Future Minimum Rental Payments (Details) (USD $) |
|
( us-gaap:LeasesAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
2020 |
243,115 | |
( us-gaap:OperatingLeasesFutureMinimumPaymentsDueCurrent ) |
| |
Future minimum rental payments |
243,115 | |
( us-gaap:OperatingLeasesFutureMinimumPaymentsDue ) |
| |
|
(End Disclosure - Lease Liabilities - Schedule of Non-cancelable Schedule of Operating Lease for Future Minimum Rental Payments (Details)) |
|
Disclosure - Other Payables - Schedule of Other Payable (Details) |
Disclosure - Other Payables - Schedule of Other Payable (Details) (USD $) |
|
|
( us-gaap:OtherLiabilitiesDisclosureAbstract ) |
|
|
|
Jun. 30, 2019 |
Dec. 31, 2018 |
|
|
|
|
|
|
|
|
|
Tenants deposits payable |
2,674,775 | |
2,652,706 | |
( custom:TenantsDepositsPayable [Extension] ) |
| |
| |
Tenants escrow account |
830,101 | |
1,607,935 | |
( custom:TenantsEscrowAccount [Extension] ) |
| |
| |
Guaranteed rent payable |
286,702 | |
286,394 | |
( us-gaap:GuarantyLiabilities ) |
| |
| |
Expired lease-back payable |
5,520,308 | |
5,456,883 | |
( custom:ExpiredLeasebackPayable [Extension] ) |
| |
| |
Buy-back payable |
4,207,403 | |
4,186,382 | |
( custom:BuybackPayable [Extension] ) |
| |
| |
Accrued liabilities for additional payable from litigation |
4,805,518 | |
4,800,348 | |
( us-gaap:OtherAccruedLiabilitiesCurrentAndNoncurrent ) |
| |
| |
Union, housing, heating and others |
751,690 | |
604,227 | |
( custom:UnionHousingHeatingAndOthers [Extension] ) |
| |
| |
Total Other Payables |
19,076,497 | |
19,594,875 | |
( us-gaap:OtherLiabilities ) |
| |
| |
|
(End Disclosure - Other Payables - Schedule of Other Payable (Details)) |
|
Disclosure - Related Party Transactions (Details Narrative) |
Disclosure - Related Party Transactions (Details Narrative) (USD $) |
|
|
6 Months Ended |
|
|
3 Months Ended |
( us-gaap:RelatedPartyTransactionsAbstract ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Dec. 25, 2000 |
Dec. 25, 2000 |
Jun. 30, 2019 |
( srt:OwnershipAxis ) |
|
|
|
|
|
|
|
Dalian Victory Plaza Development Co, Ltd [Member] |
DVDC [Member] Dalian Victory Plaza Development Co, Ltd [Member] Land and Infrastructure [Member] |
DVDC [Member] Dalian Victory Plaza Development Co, Ltd [Member] |
DVDC [Member] |
DVDC [Member] RMB [Member] |
DVDC [Member] |
( srt:OwnershipDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Non-controlling interest ownership percentage |
0.20 | |
| |
| |
| |
| |
| |
( us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners ) |
| |
| |
| |
| |
| |
| |
Right of use assets contribution |
| |
20,000,000 | |
| |
| |
| |
| |
( us-gaap:OperatingLeaseRightOfUseAsset ) |
| |
| |
| |
| |
| |
| |
Registered capital form contributions |
| |
| |
6,800,000 | |
| |
| |
| |
( custom:RegisteredCapitalFromContribution [Extension] ) |
| |
| |
| |
| |
| |
| |
Loan payable to related parties |
| |
| |
| |
13,200,000 | |
109,356,000 | |
| |
( us-gaap:DueToRelatedPartiesCurrentAndNoncurrent ) |
| |
| |
| |
| |
| |
| |
Loan principal |
| |
| |
| |
3,300,000 | |
| |
| |
( custom:DueToRelatedPartiesPrincipalAmount [Extension] ) |
| |
| |
| |
| |
| |
| |
Loan interest rate |
| |
0.25 | |
| |
0.08 | |
| |
| |
( us-gaap:DebtInstrumentInterestRateStatedPercentage ) |
| |
| |
| |
| |
| |
| |
Accrued interest expense - related parties |
| |
| |
| |
| |
| |
134,180 | |
( us-gaap:InterestExpenseRelatedParty ) |
| |
| |
| |
| |
| |
| |
Accrued interest payable to related party |
| |
| |
| |
| |
| |
| |
( us-gaap:InterestPayableCurrentAndNoncurrent ) |
| |
| |
| |
| |
| |
| |
Received loans from related party |
| |
| |
| |
| |
| |
| |
( us-gaap:ProceedsFromRelatedPartyDebt ) |
| |
| |
| |
| |
| |
| |
Repayments of loans |
| |
| |
| |
| |
| |
| |
( us-gaap:RepaymentsOfDebt ) |
| |
| |
| |
| |
| |
| |
Interest rate |
| |
| |
| |
0.08 | |
| |
| |
( us-gaap:DebtInstrumentInterestRateEffectivePercentage ) |
| |
| |
| |
| |
| |
| |
Non-controlling interest |
0.20 | |
| |
| |
| |
| |
| |
( us-gaap:MinorityInterestOwnershipPercentageByParent ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Related Party Transactions (Details Narrative) (USD $) |
6 Months Ended |
|
|
|
( us-gaap:RelatedPartyTransactionsAbstract ) |
|
|
|
|
|
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Dec. 31, 2018 |
Jun. 30, 2019 |
( srt:OwnershipAxis ) |
|
|
|
|
|
|
|
DVDC [Member] |
DVDC [Member] |
DVDC [Member] |
DVDC [Member] |
DVDC [Member] |
One Related Individual [Member] |
( srt:OwnershipDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Non-controlling interest ownership percentage |
| |
| |
| |
| |
| |
| |
( us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners ) |
| |
| |
| |
| |
| |
| |
Right of use assets contribution |
| |
| |
| |
| |
| |
| |
( us-gaap:OperatingLeaseRightOfUseAsset ) |
| |
| |
| |
| |
| |
| |
Registered capital form contributions |
| |
| |
| |
| |
| |
| |
( custom:RegisteredCapitalFromContribution [Extension] ) |
| |
| |
| |
| |
| |
| |
Loan payable to related parties |
| |
| |
| |
| |
| |
832,367 | |
( us-gaap:DueToRelatedPartiesCurrentAndNoncurrent ) |
| |
| |
| |
| |
| |
| |
Loan principal |
| |
| |
| |
| |
| |
| |
( custom:DueToRelatedPartiesPrincipalAmount [Extension] ) |
| |
| |
| |
| |
| |
| |
Loan interest rate |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentInterestRateStatedPercentage ) |
| |
| |
| |
| |
| |
| |
Accrued interest expense - related parties |
133,931 | |
268,376 | |
262,755 | |
| |
| |
| |
( us-gaap:InterestExpenseRelatedParty ) |
| |
| |
| |
| |
| |
| |
Accrued interest payable to related party |
| |
| |
| |
11,398,826 | |
11,121,817 | |
| |
( us-gaap:InterestPayableCurrentAndNoncurrent ) |
| |
| |
| |
| |
| |
| |
Received loans from related party |
| |
| |
| |
| |
| |
| |
( us-gaap:ProceedsFromRelatedPartyDebt ) |
| |
| |
| |
| |
| |
| |
Repayments of loans |
| |
| |
| |
| |
| |
| |
( us-gaap:RepaymentsOfDebt ) |
| |
| |
| |
| |
| |
| |
Interest rate |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentInterestRateEffectivePercentage ) |
| |
| |
| |
| |
| |
| |
Non-controlling interest |
| |
| |
| |
| |
| |
| |
( us-gaap:MinorityInterestOwnershipPercentageByParent ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Related Party Transactions (Details Narrative) (USD $) |
|
156 Months Ended |
204 Months Ended |
12 Months Ended |
|
|
( us-gaap:RelatedPartyTransactionsAbstract ) |
|
|
|
|
|
|
|
Dec. 31, 2018 |
Dec. 31, 2008 |
Dec. 31, 2014 |
Dec. 31, 2015 |
Jun. 30, 2019 |
Dec. 31, 2018 |
( srt:OwnershipAxis ) |
|
|
|
|
|
|
|
One Related Individual [Member] |
Sino Pride Development Limited [Member] |
Sino Pride Development Limited [Member] |
Sino Pride Development Limited [Member] |
Sino Pride Development Limited [Member] |
Sino Pride Development Limited [Member] |
( srt:OwnershipDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Non-controlling interest ownership percentage |
| |
| |
| |
| |
| |
| |
( us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners ) |
| |
| |
| |
| |
| |
| |
Right of use assets contribution |
| |
| |
| |
| |
| |
| |
( us-gaap:OperatingLeaseRightOfUseAsset ) |
| |
| |
| |
| |
| |
| |
Registered capital form contributions |
| |
| |
| |
| |
| |
| |
( custom:RegisteredCapitalFromContribution [Extension] ) |
| |
| |
| |
| |
| |
| |
Loan payable to related parties |
792,502 | |
| |
| |
| |
13,303,748 | |
13,303,748 | |
( us-gaap:DueToRelatedPartiesCurrentAndNoncurrent ) |
| |
| |
| |
| |
| |
| |
Loan principal |
| |
| |
| |
| |
| |
| |
( custom:DueToRelatedPartiesPrincipalAmount [Extension] ) |
| |
| |
| |
| |
| |
| |
Loan interest rate |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentInterestRateStatedPercentage ) |
| |
| |
| |
| |
| |
| |
Accrued interest expense - related parties |
| |
| |
| |
| |
| |
| |
( us-gaap:InterestExpenseRelatedParty ) |
| |
| |
| |
| |
| |
| |
Accrued interest payable to related party |
| |
| |
| |
| |
9,071,483 | |
8,531,941 | |
( us-gaap:InterestPayableCurrentAndNoncurrent ) |
| |
| |
| |
| |
| |
| |
Received loans from related party |
| |
38,683,297 | |
| |
| |
| |
| |
( us-gaap:ProceedsFromRelatedPartyDebt ) |
| |
| |
| |
| |
| |
| |
Repayments of loans |
| |
| |
20,710,919 | |
4,068,630 | |
| |
| |
( us-gaap:RepaymentsOfDebt ) |
| |
| |
| |
| |
| |
| |
Interest rate |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentInterestRateEffectivePercentage ) |
| |
| |
| |
| |
| |
| |
Non-controlling interest |
| |
| |
| |
| |
| |
| |
( us-gaap:MinorityInterestOwnershipPercentageByParent ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Related Party Transactions (Details Narrative) (USD $) |
3 Months Ended |
6 Months Ended |
|
|
( us-gaap:RelatedPartyTransactionsAbstract ) |
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2018 |
( srt:OwnershipAxis ) |
|
|
|
|
|
|
|
Sino Pride Development Limited [Member] |
Sino Pride Development Limited [Member] |
Sino Pride Development Limited [Member] |
Sino Pride Development Limited [Member] |
Shareholder [Member] |
Shareholder [Member] |
( srt:OwnershipDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Non-controlling interest ownership percentage |
| |
| |
| |
| |
| |
| |
( us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners ) |
| |
| |
| |
| |
| |
| |
Right of use assets contribution |
| |
| |
| |
| |
| |
| |
( us-gaap:OperatingLeaseRightOfUseAsset ) |
| |
| |
| |
| |
| |
| |
Registered capital form contributions |
| |
| |
| |
| |
| |
| |
( custom:RegisteredCapitalFromContribution [Extension] ) |
| |
| |
| |
| |
| |
| |
Loan payable to related parties |
| |
| |
| |
| |
65,292,851 | |
64,151,148 | |
( us-gaap:DueToRelatedPartiesCurrentAndNoncurrent ) |
| |
| |
| |
| |
| |
| |
Loan principal |
| |
| |
| |
| |
| |
| |
( custom:DueToRelatedPartiesPrincipalAmount [Extension] ) |
| |
| |
| |
| |
| |
| |
Loan interest rate |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentInterestRateStatedPercentage ) |
| |
| |
| |
| |
| |
| |
Accrued interest expense - related parties |
269,771 | |
267,075 | |
539,542 | |
533,076 | |
| |
| |
( us-gaap:InterestExpenseRelatedParty ) |
| |
| |
| |
| |
| |
| |
Accrued interest payable to related party |
| |
| |
| |
| |
| |
| |
( us-gaap:InterestPayableCurrentAndNoncurrent ) |
| |
| |
| |
| |
| |
| |
Received loans from related party |
| |
| |
| |
| |
| |
| |
( us-gaap:ProceedsFromRelatedPartyDebt ) |
| |
| |
| |
| |
| |
| |
Repayments of loans |
| |
| |
| |
— | |
| |
| |
( us-gaap:RepaymentsOfDebt ) |
| |
| |
| |
| |
| |
| |
Interest rate |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentInterestRateEffectivePercentage ) |
| |
| |
| |
| |
| |
| |
Non-controlling interest |
| |
| |
| |
| |
| |
| |
( us-gaap:MinorityInterestOwnershipPercentageByParent ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Related Party Transactions (Details Narrative) (USD $) |
|
|
( us-gaap:RelatedPartyTransactionsAbstract ) |
|
|
|
Jun. 30, 2019 |
Jun. 30, 2018 |
( srt:OwnershipAxis ) |
|
|
|
Mr. Alex Brown [Member] |
Mr. Alex Brown [Member] |
( srt:OwnershipDomain ) |
|
|
|
| |
| |
|
| |
| |
Non-controlling interest ownership percentage |
| |
| |
( us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners ) |
| |
| |
Right of use assets contribution |
| |
| |
( us-gaap:OperatingLeaseRightOfUseAsset ) |
| |
| |
Registered capital form contributions |
| |
| |
( custom:RegisteredCapitalFromContribution [Extension] ) |
| |
| |
Loan payable to related parties |
949,420 | |
529,899 | |
( us-gaap:DueToRelatedPartiesCurrentAndNoncurrent ) |
| |
| |
Loan principal |
| |
| |
( custom:DueToRelatedPartiesPrincipalAmount [Extension] ) |
| |
| |
Loan interest rate |
| |
| |
( us-gaap:DebtInstrumentInterestRateStatedPercentage ) |
| |
| |
Accrued interest expense - related parties |
| |
| |
( us-gaap:InterestExpenseRelatedParty ) |
| |
| |
Accrued interest payable to related party |
| |
| |
( us-gaap:InterestPayableCurrentAndNoncurrent ) |
| |
| |
Received loans from related party |
| |
| |
( us-gaap:ProceedsFromRelatedPartyDebt ) |
| |
| |
Repayments of loans |
| |
| |
( us-gaap:RepaymentsOfDebt ) |
| |
| |
Interest rate |
| |
| |
( us-gaap:DebtInstrumentInterestRateEffectivePercentage ) |
| |
| |
Non-controlling interest |
| |
| |
( us-gaap:MinorityInterestOwnershipPercentageByParent ) |
| |
| |
|
(End Disclosure - Related Party Transactions (Details Narrative)) |
|
Disclosure - Related Party Transactions - Schedule of Loan Payable to Related Party (Details) |
Disclosure - Related Party Transactions - Schedule of Loan Payable to Related Party (Details) (USD $) |
|
|
|
|
|
|
( us-gaap:RelatedPartyTransactionsAbstract ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
( us-gaap:RelatedPartyTransactionsByRelatedPartyAxis ) |
|
|
|
|
|
|
|
DVDC [Member] |
Related Individual [Member] |
|
DVDC [Member] |
Related Individual [Member] |
|
( us-gaap:RelatedPartyDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Loan payable to related parties |
10,735,328 | |
832,367 | |
11,567,695 | |
10,723,778 | |
792,502 | |
11,516,280 | |
( us-gaap:DueToRelatedPartiesCurrentAndNoncurrent ) |
| |
| |
| |
| |
| |
| |
|
(End Disclosure - Related Party Transactions - Schedule of Loan Payable to Related Party (Details)) |
|
Disclosure - Related Party Transactions - Schedule of Loan Payable to DVDC (Details) |
Disclosure - Related Party Transactions - Schedule of Loan Payable to DVDC (Details) (USD $) |
|
|
|
|
|
|
( us-gaap:RelatedPartyTransactionsAbstract ) |
|
|
|
|
|
|
|
Jun. 30, 2019 |
Dec. 31, 2018 |
Jun. 30, 2019 |
Dec. 31, 2018 |
Jun. 30, 2019 |
Dec. 31, 2018 |
( us-gaap:RelatedPartyTransactionsByRelatedPartyAxis ) |
|
|
|
|
|
|
|
DVDC [Member] |
DVDC [Member] |
DVDC [Member] Infrastructure Construction [Member] |
DVDC [Member] Infrastructure Construction [Member] |
DVDC [Member] Other Payable [Member] |
DVDC [Member] Other Payable [Member] |
( us-gaap:RelatedPartyDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Loan principal |
13,200,000 | |
13,200,000 | |
| |
| |
| |
| |
( custom:DueToRelatedPartiesPrincipalAmount [Extension] ) |
| |
| |
| |
| |
| |
| |
Net loan payable |
10,735,328 | |
10,723,778 | |
| |
| |
215,136 | |
215,136 | |
( us-gaap:DueToRelatedPartiesCurrentAndNoncurrent ) |
| |
| |
| |
| |
| |
| |
Advances payable to related party |
| |
| |
(5,685,747 | ) |
(5,685,747 | ) |
| |
| |
( custom:AdvancesPayableToRelatedParty [Extension] ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Related Party Transactions - Schedule of Loan Payable to DVDC (Details) (USD $) |
|
|
|
|
( us-gaap:RelatedPartyTransactionsAbstract ) |
|
|
|
|
|
Jun. 30, 2019 |
Dec. 31, 2018 |
Jun. 30, 2019 |
Dec. 31, 2018 |
( us-gaap:RelatedPartyTransactionsByRelatedPartyAxis ) |
|
|
|
|
|
DVDC [Member] |
DVDC [Member] |
DVDC [Member] Foreign Exchange Effect [Member] |
DVDC [Member] Foreign Exchange Effect [Member] |
( us-gaap:RelatedPartyDomain ) |
|
|
|
|
|
| |
| |
| |
| |
|
| |
| |
| |
| |
Loan principal |
| |
| |
| |
| |
( custom:DueToRelatedPartiesPrincipalAmount [Extension] ) |
| |
| |
| |
| |
Net loan payable |
7,729,389 | |
7,729,389 | |
3,005,939 | |
2,994,389 | |
( us-gaap:DueToRelatedPartiesCurrentAndNoncurrent ) |
| |
| |
| |
| |
Advances payable to related party |
| |
| |
| |
| |
( custom:AdvancesPayableToRelatedParty [Extension] ) |
| |
| |
| |
| |
|
(End Disclosure - Related Party Transactions - Schedule of Loan Payable to DVDC (Details)) |
|
Disclosure - Related Party Transactions - Schedule of Loan, Repayments and Accrued Interest to Sino Pride (Details) |
Disclosure - Related Party Transactions - Schedule of Loan, Repayments and Accrued Interest to Sino Pride (Details) (Sino Pride Development Limited [Member], USD $) |
6 Months Ended |
12 Months Ended |
( us-gaap:RelatedPartyTransactionsAbstract ) |
|
|
|
Jun. 30, 2019 |
Dec. 31, 2018 |
( us-gaap:RelatedPartyTransactionsByRelatedPartyAxis ) |
|
|
|
|
|
( us-gaap:RelatedPartyDomain ) |
|
|
Loan balance, beginning |
13,303,748 | |
13,503,748 | |
( us-gaap:DueToRelatedPartiesCurrentAndNoncurrent ) |
| |
| |
Repayment for the period |
— | |
(200,000 | ) |
( us-gaap:RepaymentsOfDebt ) |
| |
| |
Loan balance, ending |
13,303,748 | |
13,303,748 | |
( us-gaap:DueToRelatedPartiesCurrentAndNoncurrent ) |
| |
| |
|
| |
| |
|
| |
| |
Interest payable, beginning |
8,531,941 | |
7,451,973 | |
( us-gaap:InterestPayableCurrentAndNoncurrent ) |
| |
| |
Accrued interest |
539,542 | |
1,079,968 | |
( custom:AccruedInterest [Extension] ) |
| |
| |
Repayment |
— | |
— | |
( custom:RepaymentsOfInterestForThePeriod [Extension] ) |
| |
| |
Interest payable, ending |
9,071,483 | |
8,531,941 | |
( us-gaap:InterestPayableCurrentAndNoncurrent ) |
| |
| |
|
(End Disclosure - Related Party Transactions - Schedule of Loan, Repayments and Accrued Interest to Sino Pride (Details)) |
|
Disclosure - Income Taxes (Details Narrative) |
Disclosure - Income Taxes (Details Narrative) (USD $) |
6 Months Ended |
|
|
( us-gaap:IncomeTaxDisclosureAbstract ) |
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Dec. 31, 2018 |
( srt:StatementGeographicalAxis ) |
|
|
|
|
|
|
|
China [Member] Foreign Tax Authority [Member] |
Hong Kong [Member] Foreign Tax Authority [Member] |
|
Maximum [Member] |
DVPD, DVBM and Sino Pride [Member] |
DVPD, DVBM and Sino Pride [Member] |
( srt:SegmentGeographicalDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Effective income tax rate |
0.25 | |
0.165 | |
0.21 | |
| |
| |
| |
( us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate ) |
| |
| |
| |
| |
| |
| |
Effective income tax rate, description |
| |
| |
On December 22, 2017, the Tax Cuts and Jobs Act (the "TCJA"), which significantly modified U.S. corporate income tax law, was signed into law by President Trump. The TCJA contains significant changes to corporate income taxation, including but not limited to the reduction of the corporate income tax rate from a top marginal rate of 35% to a flat rate of 21% | |
| |
| |
| |
( us-gaap:IncomeTaxExaminationDescription ) |
| |
| |
| |
| |
| |
| |
Limitation of tax reduction for interest expense |
| |
| |
| |
0.30 | |
| |
| |
( us-gaap:EffectiveIncomeTaxRateReconciliationDeductions ) |
| |
| |
| |
| |
| |
| |
Limitation of tax reduction for net operating losses |
| |
| |
| |
0.80 | |
| |
| |
( us-gaap:EffectiveIncomeTaxRateReconciliationDeductionsOther ) |
| |
| |
| |
| |
| |
| |
Operating loss carry forwards |
| |
| |
| |
| |
55,318,151 | |
81,125,753 | |
( us-gaap:OperatingLossCarryforwards ) |
| |
| |
| |
| |
| |
| |
Operating loss carry forward years |
| |
| |
P20Y | |
| |
| |
| |
( custom:OperatingLossCarryForwardYears [Extension] ) |
| |
| |
| |
| |
| |
| |
Change in valuation allowance increased |
| |
| |
1,815,795 | |
| |
| |
| |
( us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Income Taxes (Details Narrative) (USD $) |
|
|
6 Months Ended |
( us-gaap:IncomeTaxDisclosureAbstract ) |
|
|
|
|
Jun. 30, 2019 |
Dec. 31, 2018 |
Jun. 30, 2018 |
( srt:StatementGeographicalAxis ) |
|
|
|
|
|
|
|
( srt:SegmentGeographicalDomain ) |
|
|
|
|
| |
| |
| |
|
| |
| |
| |
Effective income tax rate |
| |
| |
| |
( us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate ) |
| |
| |
| |
Effective income tax rate, description |
| |
| |
| |
( us-gaap:IncomeTaxExaminationDescription ) |
| |
| |
| |
Limitation of tax reduction for interest expense |
| |
| |
| |
( us-gaap:EffectiveIncomeTaxRateReconciliationDeductions ) |
| |
| |
| |
Limitation of tax reduction for net operating losses |
| |
| |
| |
( us-gaap:EffectiveIncomeTaxRateReconciliationDeductionsOther ) |
| |
| |
| |
Operating loss carry forwards |
1,983,210 | |
1,155,570 | |
| |
( us-gaap:OperatingLossCarryforwards ) |
| |
| |
| |
Operating loss carry forward years |
| |
| |
| |
( custom:OperatingLossCarryForwardYears [Extension] ) |
| |
| |
| |
Change in valuation allowance increased |
| |
| |
642,952 | |
( us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount ) |
| |
| |
| |
|
(End Disclosure - Income Taxes (Details Narrative)) |
|
Disclosure - Income Taxes - Schedule of Deferred Tax Assets (Details) |
Disclosure - Income Taxes - Schedule of Deferred Tax Assets (Details) (USD $) |
|
|
( us-gaap:IncomeTaxDisclosureAbstract ) |
|
|
|
Jun. 30, 2019 |
Dec. 31, 2018 |
|
|
|
|
|
|
|
|
|
Net operating loss carry forwards, foreign operations |
14,410,888 | |
18,153,562 | |
( us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsForeign ) |
| |
| |
Net operating loss carry forwards, US operations |
416,474 | |
242,670 | |
( us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsDomestic ) |
| |
| |
Valuation allowance |
(14,827,362 | ) |
(18,396,232 | ) |
( us-gaap:DeferredTaxAssetsValuationAllowance ) |
| |
| |
Deferred tax assets - net |
— | |
— | |
( us-gaap:DeferredTaxAssetsNet ) |
| |
| |
|
(End Disclosure - Income Taxes - Schedule of Deferred Tax Assets (Details)) |
|
Disclosure - Income Taxes - Schedule of Provisions for Income Taxes (Details) |
Disclosure - Income Taxes - Schedule of Provisions for Income Taxes (Details) (USD $) |
6 Months Ended |
( us-gaap:IncomeTaxDisclosureAbstract ) |
|
|
Jun. 30, 2019 |
Jun. 30, 2018 |
|
|
|
|
|
|
|
|
|
Current |
— | |
— | |
( us-gaap:CurrentIncomeTaxExpenseBenefit ) |
| |
| |
Deferred |
1,815,795 | |
642,952 | |
( us-gaap:DeferredIncomeTaxExpenseBenefit ) |
| |
| |
Change in valuation allowance |
(1,815,795 | ) |
(642,952 | ) |
( us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount ) |
| |
| |
Total |
— | |
— | |
( us-gaap:IncomeTaxExpenseBenefit ) |
| |
| |
|
(End Disclosure - Income Taxes - Schedule of Provisions for Income Taxes (Details)) |
|
Disclosure - Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) |
Disclosure - Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) (USD $) |
6 Months Ended |
( us-gaap:IncomeTaxDisclosureAbstract ) |
|
|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
( srt:StatementGeographicalAxis ) |
|
|
|
|
|
China [Member] |
China [Member] |
Hong Kong [Member] |
Hong Kong [Member] |
( srt:SegmentGeographicalDomain ) |
|
|
|
|
US statutory tax rate |
0.2100 | |
0.2100 | |
0.2100 | |
0.2100 | |
( us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate ) |
| |
| |
| |
| |
Tax rate difference |
0.0400 | |
0.0400 | |
(0.0450 | ) |
(0.0450 | ) |
( us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential ) |
| |
| |
| |
| |
Changes in valuation allowance |
(0.2500 | ) |
(0.2500 | ) |
(0.1650 | ) |
(0.1650 | ) |
( us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance ) |
| |
| |
| |
| |
Effective rate |
0.0000 | |
0.0000 | |
0.0000 | |
0.0000 | |
( us-gaap:EffectiveIncomeTaxRateContinuingOperations ) |
| |
| |
| |
| |
|
(End Disclosure - Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details)) |
|
Disclosure - Stockholders' Equity (Details Narrative) |
Disclosure - Stockholders' Equity (Details Narrative) (USD $) |
|
0 Months Ended |
( us-gaap:EquityAbstract ) |
|
|
|
Mar. 28, 2019 |
Mar. 28, 2019 |
Apr. 15, 2019 |
( srt:TitleOfIndividualAxis ) |
|
|
|
|
Subscription Agreement [Member] 30 Individual Investors [Member] IPO [Member] |
Subscription Agreement [Member] 30 Individual Investors [Member] IPO [Member] |
|
( srt:TitleOfIndividualWithRelationshipToEntityDomain ) |
|
|
|
|
| |
| |
| |
|
| |
| |
| |
Initial public offering price per shares |
1 | |
| |
| |
( us-gaap:SharesIssuedPricePerShare ) |
| |
| |
| |
Common stock, par value |
0.0001 | |
| |
| |
( us-gaap:CommonStockParOrStatedValuePerShare ) |
| |
| |
| |
Stock issued during the period |
| |
1,011,000 | |
| |
( us-gaap:StockIssuedDuringPeriodSharesNewIssues ) |
| |
| |
| |
Consideration in cash |
| |
| |
1,011,000 | |
( us-gaap:ProceedsFromIssuanceOfCommonStock ) |
| |
| |
| |
|
(End Disclosure - Stockholders' Equity (Details Narrative)) |
|
Disclosure - Statutory Reserve (Details Narrative) |
Disclosure - Statutory Reserve (Details Narrative) (USD $) |
6 Months Ended |
( custom:StatutoryReserveAbstract [Extension] ) |
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2018 |
( dei:LegalEntityAxis ) |
|
|
|
|
|
DVPD and DVBM [Member] |
DVPD and DVBM [Member] |
( dei:EntityDomain ) |
|
|
|
|
| |
| |
| |
|
| |
| |
| |
Statutory reserve, description |
The "statutory surplus reserve fund" requires annual appropriations of 10% of after-tax profit until such appropriations reach 50% of the registered capital (as determined under accounting principles generally accepted in the PRC ("PRC GAAP") at each yearend). | |
| |
| |
( custom:StatutoryReserveDescription [Extension] ) |
| |
| |
| |
Statutory reserve, appropriations |
| |
0 | |
0 | |
( custom:StatutoryReserveAppropriationOfFundForCurrentPeriod [Extension] ) |
| |
| |
| |
|
(End Disclosure - Statutory Reserve (Details Narrative)) |
|
Disclosure - Non-Controlling Interest (Details Narrative) |
Disclosure - Non-Controlling Interest (Details Narrative) (USD $) |
|
|
( us-gaap:NoncontrollingInterestAbstract ) |
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
( srt:OwnershipAxis ) |
|
|
|
Dalian Victory Plaza Development Co, Ltd [Member] |
Dalian Victory Business Management Co., Ltd. [Member] |
( srt:OwnershipDomain ) |
|
|
|
| |
| |
|
| |
| |
Non-controlling interest percentage |
0.20 | |
0.05 | |
( us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners ) |
| |
| |
|
(End Disclosure - Non-Controlling Interest (Details Narrative)) |
|
Disclosure - Non-Controlling Interest - Schedule of Non-Controlling Interest (Details) |
Disclosure - Non-Controlling Interest - Schedule of Non-Controlling Interest (Details) (USD $) |
6 Months Ended |
12 Months Ended |
( us-gaap:NoncontrollingInterestAbstract ) |
|
|
|
Jun. 30, 2019 |
Dec. 31, 2018 |
|
|
|
|
|
|
|
|
|
Non-controlling interest at beginning of the period |
(42,242,097 | ) |
(43,268,669 | ) |
( us-gaap:MinorityInterest ) |
| |
| |
Net loss |
(778,625 | ) |
(971,370 | ) |
( us-gaap:NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable ) |
| |
| |
Change in foreign currency translation adjustment |
853,304 | |
1,997,942 | |
( us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest ) |
| |
| |
Non-controlling interest at end of the period |
(43,294,134 | ) |
(42,242,097 | ) |
( us-gaap:MinorityInterest ) |
| |
| |
|
(End Disclosure - Non-Controlling Interest - Schedule of Non-Controlling Interest (Details)) |
|
Disclosure - Commitments and Contingencies (Details Narrative) |
Disclosure - Commitments and Contingencies (Details Narrative) (USD $) |
6 Months Ended |
|
|
6 Months Ended |
3 Months Ended |
( us-gaap:CommitmentsAndContingenciesDisclosureAbstract ) |
|
|
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
( dei:LegalEntityAxis ) |
|
|
|
|
|
|
|
Sino Pride Development Limited [Member] |
|
Sino Pride Development Limited [Member] |
Sino Pride Development Limited [Member] RMB [Member] |
|
|
( dei:EntityDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Operating lease, expiration date |
2020-03-26 | |
| |
| |
| |
2020-03-26 | |
| |
( us-gaap:LeaseExpirationDate1 ) |
| |
| |
| |
| |
| |
| |
Property financing agreements payable |
| |
81,307,579 | |
| |
| |
| |
| |
( custom:PropertyFinancingAgreementPayable [Extension] ) |
| |
| |
| |
| |
| |
| |
Lease liabilities payable |
| |
| |
396,681 | |
| |
| |
| |
( us-gaap:FinanceLeaseLiability ) |
| |
| |
| |
| |
| |
| |
Lease-back payable past due |
| |
| |
5,520,308 | |
| |
| |
| |
( custom:SaleLeasebackTransactionPayablePastDue [Extension] ) |
| |
| |
| |
| |
| |
| |
Unpaid balance of property buy-backs |
| |
| |
4,207,203 | |
| |
| |
| |
( custom:UnpaidBalanceOfBuybackProperty [Extension] ) |
| |
| |
| |
| |
| |
| |
Number of lawsuits litigation cases |
| |
| |
| |
| |
543 | |
| |
( custom:NumberOfLawsuitsLitigationCases [Extension] ) |
| |
| |
| |
| |
| |
| |
Litigants claimed amount |
24,586,713 | |
| |
| |
168,920,550 | |
| |
| |
( us-gaap:LossContingencyDamagesAwardedValue ) |
| |
| |
| |
| |
| |
| |
Accrued extra litigation charges |
| |
| |
4,805,518 | |
| |
| |
| |
( custom:AccruedLegalLitigationCharges [Extension] ) |
| |
| |
| |
| |
| |
| |
Attorney fees with cases |
| |
| |
| |
| |
3,550 | |
3,550 | |
( us-gaap:LegalFees ) |
| |
| |
| |
| |
| |
| |
Area of asset in square meters |
| |
| |
| |
| |
| |
| |
( custom:AreaOfAssetInSquareMeters [Extension] ) |
| |
| |
| |
| |
| |
| |
Area of asset in square feet |
| |
| |
| |
| |
| |
| |
( custom:AreaOfAssetInSquareFeet [Extension] ) |
| |
| |
| |
| |
| |
| |
Consideration to acquire |
| |
| |
| |
| |
| |
| |
( us-gaap:BusinessCombinationConsiderationTransferred1 ) |
| |
| |
| |
| |
| |
| |
Bank loan term and due |
| |
| |
| |
| |
| |
| |
( custom:BankLoanRepaymentTermAndDue [Extension] ) |
| |
| |
| |
| |
| |
| |
Profit or gain on collateral |
| |
| |
| |
| |
| |
| |
( custom:GainLossOnCollateralOfAssetsOnBehalfOfRelatedParty [Extension] ) |
| |
| |
| |
| |
| |
| |
Number of rental properties in units |
| |
| |
| |
| |
| |
| |
( custom:NumberOfRentalPropertiesInUnits [Extension] ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Commitments and Contingencies (Details Narrative) (USD $) |
6 Months Ended |
0 Months Ended |
( us-gaap:CommitmentsAndContingenciesDisclosureAbstract ) |
|
|
|
Jun. 30, 2018 |
Jun. 30, 2018 |
May. 18, 2017 |
May. 18, 2017 |
May. 18, 2017 |
May. 18, 2017 |
( dei:LegalEntityAxis ) |
|
|
|
|
|
|
|
|
|
Unrelated Individual [Member] |
Unrelated Individual [Member] RMB [Member] |
Employee of DVPD [Member] Individual One [Member] |
Employee of DVPD [Member] Individual One [Member] RMB [Member] |
( dei:EntityDomain ) |
|
|
|
|
|
|
|
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
Operating lease, expiration date |
| |
| |
| |
| |
| |
| |
( us-gaap:LeaseExpirationDate1 ) |
| |
| |
| |
| |
| |
| |
Property financing agreements payable |
| |
| |
| |
| |
| |
| |
( custom:PropertyFinancingAgreementPayable [Extension] ) |
| |
| |
| |
| |
| |
| |
Lease liabilities payable |
| |
| |
| |
| |
| |
| |
( us-gaap:FinanceLeaseLiability ) |
| |
| |
| |
| |
| |
| |
Lease-back payable past due |
| |
| |
| |
| |
| |
| |
( custom:SaleLeasebackTransactionPayablePastDue [Extension] ) |
| |
| |
| |
| |
| |
| |
Unpaid balance of property buy-backs |
| |
| |
| |
| |
| |
| |
( custom:UnpaidBalanceOfBuybackProperty [Extension] ) |
| |
| |
| |
| |
| |
| |
Number of lawsuits litigation cases |
| |
| |
| |
| |
| |
| |
( custom:NumberOfLawsuitsLitigationCases [Extension] ) |
| |
| |
| |
| |
| |
| |
Litigants claimed amount |
| |
| |
| |
| |
| |
| |
( us-gaap:LossContingencyDamagesAwardedValue ) |
| |
| |
| |
| |
| |
| |
Accrued extra litigation charges |
| |
| |
| |
| |
| |
| |
( custom:AccruedLegalLitigationCharges [Extension] ) |
| |
| |
| |
| |
| |
| |
Attorney fees with cases |
31,784 | |
98,218 | |
| |
| |
| |
| |
( us-gaap:LegalFees ) |
| |
| |
| |
| |
| |
| |
Area of asset in square meters |
| |
| |
140 | |
| |
138 | |
| |
( custom:AreaOfAssetInSquareMeters [Extension] ) |
| |
| |
| |
| |
| |
| |
Area of asset in square feet |
| |
| |
1,507 | |
| |
1,485 | |
| |
( custom:AreaOfAssetInSquareFeet [Extension] ) |
| |
| |
| |
| |
| |
| |
Consideration to acquire |
| |
| |
720,150 | |
5,000,000 | |
720,150 | |
5,000,000 | |
( us-gaap:BusinessCombinationConsiderationTransferred1 ) |
| |
| |
| |
| |
| |
| |
Bank loan term and due |
| |
| |
P1Y | |
| |
P1Y | |
| |
( custom:BankLoanRepaymentTermAndDue [Extension] ) |
| |
| |
| |
| |
| |
| |
Profit or gain on collateral |
| |
| |
— | |
| |
— | |
| |
( custom:GainLossOnCollateralOfAssetsOnBehalfOfRelatedParty [Extension] ) |
| |
| |
| |
| |
| |
| |
Number of rental properties in units |
| |
| |
| |
| |
7 | |
| |
( custom:NumberOfRentalPropertiesInUnits [Extension] ) |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Commitments and Contingencies (Details Narrative) (USD $) |
( us-gaap:CommitmentsAndContingenciesDisclosureAbstract ) |
|
May. 18, 2017 |
May. 18, 2017 |
( dei:LegalEntityAxis ) |
|
|
|
Employee of DVPD [Member] Individual Two [Member] |
Employee of DVPD [Member] Individual Two [Member] RMB [Member] |
( dei:EntityDomain ) |
|
|
|
| |
| |
|
| |
| |
Operating lease, expiration date |
| |
| |
( us-gaap:LeaseExpirationDate1 ) |
| |
| |
Property financing agreements payable |
| |
| |
( custom:PropertyFinancingAgreementPayable [Extension] ) |
| |
| |
Lease liabilities payable |
| |
| |
( us-gaap:FinanceLeaseLiability ) |
| |
| |
Lease-back payable past due |
| |
| |
( custom:SaleLeasebackTransactionPayablePastDue [Extension] ) |
| |
| |
Unpaid balance of property buy-backs |
| |
| |
( custom:UnpaidBalanceOfBuybackProperty [Extension] ) |
| |
| |
Number of lawsuits litigation cases |
| |
| |
( custom:NumberOfLawsuitsLitigationCases [Extension] ) |
| |
| |
Litigants claimed amount |
| |
| |
( us-gaap:LossContingencyDamagesAwardedValue ) |
| |
| |
Accrued extra litigation charges |
| |
| |
( custom:AccruedLegalLitigationCharges [Extension] ) |
| |
| |
Attorney fees with cases |
| |
| |
( us-gaap:LegalFees ) |
| |
| |
Area of asset in square meters |
15 | |
| |
( custom:AreaOfAssetInSquareMeters [Extension] ) |
| |
| |
Area of asset in square feet |
161 | |
| |
( custom:AreaOfAssetInSquareFeet [Extension] ) |
| |
| |
Consideration to acquire |
720,150 | |
5,000,000 | |
( us-gaap:BusinessCombinationConsiderationTransferred1 ) |
| |
| |
Bank loan term and due |
P1Y | |
| |
( custom:BankLoanRepaymentTermAndDue [Extension] ) |
| |
| |
Profit or gain on collateral |
— | |
| |
( custom:GainLossOnCollateralOfAssetsOnBehalfOfRelatedParty [Extension] ) |
| |
| |
Number of rental properties in units |
2 | |
| |
( custom:NumberOfRentalPropertiesInUnits [Extension] ) |
| |
| |
|
(End Disclosure - Commitments and Contingencies (Details Narrative)) |
|
Disclosure - Commitments and Contingencies - Schedule of Operating Lease for Future Minimum Rental Payments (Details) (USD $) |
Disclosure - Commitments and Contingencies - Schedule of Operating Lease for Future Minimum Rental Payments (Details) (USD $) (USD $) |
|
( us-gaap:CommitmentsAndContingenciesDisclosureAbstract ) |
|
|
Jun. 30, 2019 |
|
|
|
|
|
|
2020 |
243,115 | |
( us-gaap:OperatingLeasesFutureMinimumPaymentsDueCurrent ) |
| |
Future minimum rental payments |
243,115 | |
( us-gaap:OperatingLeasesFutureMinimumPaymentsDue ) |
| |
|
(End Disclosure - Commitments and Contingencies - Schedule of Operating Lease for Future Minimum Rental Payments (Details) (USD $)) |
|
Disclosure - Concentration of Credit Risk (Details Narrative) |
Disclosure - Concentration of Credit Risk (Details Narrative) (USD $) |
|
|
6 Months Ended |
( us-gaap:RisksAndUncertaintiesAbstract ) |
|
|
|
|
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
( us-gaap:AwardTypeAxis ) |
|
|
|
|
|
|
|
|
RMB [Member] |
|
Sales Revenue, Net [Member] Ten Tenants [Member] |
Sales Revenue, Net [Member] Ten Tenants [Member] |
Sales Revenue, Net [Member] |
( us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain ) |
|
|
|
|
|
|
Maximum insured bank deposit |
72,700 | |
500,000 | |
| |
| |
| |
| |
( custom:MaximumInsuredBankDeposit [Extension] ) |
| |
| |
| |
| |
| |
| |
Uninsured cash balance |
177,975 | |
| |
| |
| |
| |
| |
( us-gaap:CashAndCashEquivalentsAtCarryingValue ) |
| |
| |
| |
| |
| |
| |
Number of income receives from tenants |
| |
| |
700 | |
| |
| |
| |
( custom:NumberOfIncomeReceivesFromTenants [Extension] ) |
| |
| |
| |
| |
| |
| |
Concentration risk percentage |
| |
| |
| |
0.1972 | |
0.2133 | |
| |
( us-gaap:ConcentrationRiskPercentage1 ) |
| |
| |
| |
| |
| |
| |
Concentration risk, description |
| |
| |
| |
| |
| |
No individual tenant's revenue accounts for more than 10% of the total revenue in the above periods. | |
( us-gaap:ConcentrationRiskOtherRisk ) |
| |
| |
| |
| |
| |
| |
|
(End Disclosure - Concentration of Credit Risk (Details Narrative)) |
|
Disclosure - Subsequent Events (Details Narrative) |
Disclosure - Subsequent Events (Details Narrative) (USD $) |
1 Month Ended |
0 Months Ended |
( us-gaap:SubsequentEventsAbstract ) |
|
|
|
Aug. 8, 2019 |
Aug. 6, 2019 |
Aug. 6, 2019 |
( us-gaap:AwardDateAxis ) |
|
|
|
|
Subsequent Event [Member] New Lawsuits with New Claims [Member] |
Subsequent Event [Member] Dalian City, China [Member] |
Subsequent Event [Member] Dalian City, China [Member] RMB [Member] |
( us-gaap:AwardDateDomain ) |
|
|
|
|
| |
| |
| |
|
| |
| |
| |
Number of new lawsuits |
8 | |
551 | |
| |
( custom:NumberOfNewLawsuits [Extension] ) |
| |
| |
| |
Litigants claimed amount |
283,067 | |
24,349,252 | |
170,907,398 | |
( us-gaap:LossContingencyDamagesAwardedValue ) |
| |
| |
| |
|
(End Disclosure - Subsequent Events (Details Narrative)) |
|
Disclosure - Subsequent Events - Schedule of Claims of Lawsuits (Details) |
Disclosure - Subsequent Events - Schedule of Claims of Lawsuits (Details) (USD $) |
0 Months Ended |
( us-gaap:SubsequentEventsAbstract ) |
|
|
Aug. 6, 2019 |
Aug. 6, 2019 |
Aug. 6, 2019 |
Aug. 6, 2019 |
( us-gaap:SubsequentEventTypeAxis ) |
|
|
|
|
|
Subsequent Event [Member] Property Buy-Back Related Issues [Member] |
Subsequent Event [Member] Leases and Leases Back Related Issues [Member] |
Subsequent Event [Member] Other Issues [Member] |
Subsequent Event [Member] |
( us-gaap:SubsequentEventTypeDomain ) |
|
|
|
|
Total in RMB, Store Unit |
241 | |
239 | |
71 | |
551 | |
( custom:NumberOfStoreUnits [Extension] ) |
| |
| |
| |
| |
Total in RMB, Square Feet |
51,870 | |
47,721 | |
13,019 | |
112,610 | |
( custom:AreaOfSquareFeet [Extension] ) |
| |
| |
| |
| |
Total in RMB, Claimed Amount |
19,821,479 | |
2,803,442 | |
1,724,331 | |
24,349,252 | |
( us-gaap:LossContingencyDamagesAwardedValue ) |
| |
| |
| |
| |
|
(End Disclosure - Subsequent Events - Schedule of Claims of Lawsuits (Details)) |
|
Disclosure - Subsequent Events - Schedule of Settlement of Cases (Details) |
Disclosure - Subsequent Events - Schedule of Settlement of Cases (Details) (USD $) |
0 Months Ended |
( us-gaap:SubsequentEventsAbstract ) |
|
|
Aug. 6, 2019 |
Aug. 6, 2019 |
Aug. 6, 2019 |
Aug. 6, 2019 |
( us-gaap:SubsequentEventTypeAxis ) |
|
|
|
|
|
Subsequent Event [Member] Property Buy-Back Related Issues [Member] |
Subsequent Event [Member] Leases and Leases Back Related Issues [Member] |
Subsequent Event [Member] Other Issues [Member] |
Subsequent Event [Member] |
( us-gaap:SubsequentEventTypeDomain ) |
|
|
|
|
|
| |
| |
| |
| |
|
| |
| |
| |
| |
Total resolved cases |
214 | |
215 | |
54 | |
483 | |
( custom:NumberOfResolvedCases [Extension] ) |
| |
| |
| |
| |
Total resolved cases, Cases resolved in 2019 |
159 | |
111 | |
41 | |
311 | |
( custom:NumberOfResolvedCasesForCurrentPeriod [Extension] ) |
| |
| |
| |
| |
Total resolved cases, Resolved after March 31, 2019 |
— | |
2 | |
2 | |
4 | |
( us-gaap:LitigationSettlementAmountAwardedToOtherParty ) |
| |
| |
| |
| |
|
(End Disclosure - Subsequent Events - Schedule of Settlement of Cases (Details)) |
Contexts |
ID |
Period |
CIK |
Dimensions |
From2019-01-01to2019-06-30 |
2019-01-01 - 2019-06-30 |
0001723083 |
|
AsOf2018-12-31 |
2018-12-31 |
0001723083 |
|
AsOf2019-05-15 |
2019-05-15 |
0001723083 |
|
AsOf2017-12-31 |
2017-12-31 |
0001723083 |
|
From2017-01-01to2017-12-31 |
2017-01-01 - 2017-12-31 |
0001723083 |
|
From2018-01-01to2018-12-31_custom_RentalIncomeMember |
2018-01-01 - 2018-12-31 |
0001723083 |
srt:ProductOrServiceAxis: custom:RentalIncomeMember |
From2017-01-01to2017-12-31_custom_RentalIncomeMember |
2017-01-01 - 2017-12-31 |
0001723083 |
srt:ProductOrServiceAxis: custom:RentalIncomeMember |
From2018-01-01to2018-12-31_custom_ManagementFeeIncomeMember |
2018-01-01 - 2018-12-31 |
0001723083 |
srt:ProductOrServiceAxis: custom:ManagementFeeIncomeMember |
From2017-01-01to2017-12-31_custom_ManagementFeeIncomeMember |
2017-01-01 - 2017-12-31 |
0001723083 |
srt:ProductOrServiceAxis: custom:ManagementFeeIncomeMember |
From2018-01-01to2018-12-31_custom_OtherIncomesMember |
2018-01-01 - 2018-12-31 |
0001723083 |
srt:ProductOrServiceAxis: custom:OtherIncomesMember |
From2017-01-01to2017-12-31_custom_OtherIncomesMember |
2017-01-01 - 2017-12-31 |
0001723083 |
srt:ProductOrServiceAxis: custom:OtherIncomesMember |
From2018-01-01to2018-12-31_us-gaap_CommonStockMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:CommonStockMember |
From2017-01-01to2017-12-31_us-gaap_CommonStockMember |
2017-01-01 - 2017-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:CommonStockMember |
AsOf2017-12-31_us-gaap_CommonStockMember |
2017-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:CommonStockMember |
AsOf2018-12-31_us-gaap_CommonStockMember |
2018-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:CommonStockMember |
AsOf2016-12-31_us-gaap_CommonStockMember |
2016-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:CommonStockMember |
From2018-01-01to2018-12-31_us-gaap_AdditionalPaidInCapitalMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:AdditionalPaidInCapitalMember |
From2017-01-01to2017-12-31_us-gaap_AdditionalPaidInCapitalMember |
2017-01-01 - 2017-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:AdditionalPaidInCapitalMember |
AsOf2017-12-31_us-gaap_AdditionalPaidInCapitalMember |
2017-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:AdditionalPaidInCapitalMember |
AsOf2018-12-31_us-gaap_AdditionalPaidInCapitalMember |
2018-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:AdditionalPaidInCapitalMember |
AsOf2016-12-31_us-gaap_AdditionalPaidInCapitalMember |
2016-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:AdditionalPaidInCapitalMember |
From2018-01-01to2018-12-31_us-gaap_RetainedEarningsMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:RetainedEarningsMember |
From2017-01-01to2017-12-31_us-gaap_RetainedEarningsMember |
2017-01-01 - 2017-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:RetainedEarningsMember |
AsOf2017-12-31_us-gaap_RetainedEarningsMember |
2017-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:RetainedEarningsMember |
AsOf2018-12-31_us-gaap_RetainedEarningsMember |
2018-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:RetainedEarningsMember |
AsOf2016-12-31_us-gaap_RetainedEarningsMember |
2016-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:RetainedEarningsMember |
From2018-01-01to2018-12-31_us-gaap_AccumulatedOtherComprehensiveIncomeMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:AccumulatedOtherComprehensiveIncomeMember |
From2017-01-01to2017-12-31_us-gaap_AccumulatedOtherComprehensiveIncomeMember |
2017-01-01 - 2017-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:AccumulatedOtherComprehensiveIncomeMember |
AsOf2017-12-31_us-gaap_AccumulatedOtherComprehensiveIncomeMember |
2017-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:AccumulatedOtherComprehensiveIncomeMember |
AsOf2018-12-31_us-gaap_AccumulatedOtherComprehensiveIncomeMember |
2018-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:AccumulatedOtherComprehensiveIncomeMember |
AsOf2016-12-31_us-gaap_AccumulatedOtherComprehensiveIncomeMember |
2016-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:AccumulatedOtherComprehensiveIncomeMember |
From2018-01-01to2018-12-31_us-gaap_NoncontrollingInterestMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:NoncontrollingInterestMember |
From2017-01-01to2017-12-31_us-gaap_NoncontrollingInterestMember |
2017-01-01 - 2017-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:NoncontrollingInterestMember |
AsOf2017-12-31_us-gaap_NoncontrollingInterestMember |
2017-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:NoncontrollingInterestMember |
AsOf2018-12-31_us-gaap_NoncontrollingInterestMember |
2018-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:NoncontrollingInterestMember |
AsOf2016-12-31_us-gaap_NoncontrollingInterestMember |
2016-12-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:NoncontrollingInterestMember |
AsOf2016-12-31 |
2016-12-31 |
0001723083 |
|
From2018-01-01to2018-12-31_custom_DVDCMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DVDCMember |
AsOf2019-06-30_custom_SinoPrideDevelopmentLimitedMember_custom_DalianVictoryPlazaDevelopmentCoLtdMember |
2019-06-30 |
0001723083 |
us-gaap:BusinessAcquisitionAxis: custom:SinoPrideDevelopmentLimitedMember dei:LegalEntityAxis: custom:DalianVictoryPlazaDevelopmentCoLtdMember |
AsOf2019-06-30_custom_SinoPrideDevelopmentLimitedMember_custom_DalianVictoryBusinessManagementCoLtdMember |
2019-06-30 |
0001723083 |
us-gaap:BusinessAcquisitionAxis: custom:SinoPrideDevelopmentLimitedMember dei:LegalEntityAxis: custom:DalianVictoryBusinessManagementCoLtdMember |
AsOf2019-06-30_custom_DalianVictoryPlazaDevelopmentCoLtdMember |
2019-06-30 |
0001723083 |
dei:LegalEntityAxis: custom:DalianVictoryPlazaDevelopmentCoLtdMember |
AsOf2019-06-30_custom_DalianVictoryBusinessManagementCoLtdMember |
2019-06-30 |
0001723083 |
dei:LegalEntityAxis: custom:DalianVictoryBusinessManagementCoLtdMember |
AsOf2000-09-12_custom_SinoPrideDevelopmentLimitedMember_custom_DalianVictoryBusinessManagementCoLtdMember |
2000-09-12 |
0001723083 |
us-gaap:BusinessAcquisitionAxis: custom:SinoPrideDevelopmentLimitedMember dei:LegalEntityAxis: custom:DalianVictoryBusinessManagementCoLtdMember |
AsOf2000-09-12_custom_DalianVictoryPlazaDevelopmentCoLtdMember_custom_DalianVictoryBusinessManagementCoLtdMember |
2000-09-12 |
0001723083 |
us-gaap:BusinessAcquisitionAxis: custom:DalianVictoryPlazaDevelopmentCoLtdMember dei:LegalEntityAxis: custom:DalianVictoryBusinessManagementCoLtdMember |
AsOf2018-06-06_custom_DalianVictoryPlazaDevelopmentCoLtdMember_custom_DalianVictoryBusinessManagementCoLtdMember |
2018-06-06 |
0001723083 |
us-gaap:BusinessAcquisitionAxis: custom:DalianVictoryPlazaDevelopmentCoLtdMember dei:LegalEntityAxis: custom:DalianVictoryBusinessManagementCoLtdMember |
AsOf2017-06-30_custom_AlexBrownMember |
2017-06-30 |
0001723083 |
srt:TitleOfIndividualAxis: custom:AlexBrownMember |
From2016-11-01to2017-06-30_custom_IvenInternationalGroupLimitedMember |
2016-11-01 - 2017-06-30 |
0001723083 |
dei:LegalEntityAxis: custom:IvenInternationalGroupLimitedMember |
From2016-11-01to2016-11-30_custom_AssignmentOfCommonStocksAndDebtRightsMember_custom_SinoPrideDevelopmentLimitedMember |
2016-11-01 - 2016-11-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:AssignmentOfCommonStocksAndDebtRightsMember dei:LegalEntityAxis: custom:SinoPrideDevelopmentLimitedMember |
AsOf2016-11-30_custom_AssignmentOfCommonStocksAndDebtRightsMember_custom_SinoPrideDevelopmentLimitedMember |
2016-11-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:AssignmentOfCommonStocksAndDebtRightsMember dei:LegalEntityAxis: custom:SinoPrideDevelopmentLimitedMember |
AsOf2016-11-30_custom_MrBrownIvenMember |
2016-11-30 |
0001723083 |
srt:TitleOfIndividualAxis: custom:MrBrownIvenMember |
From2017-09-03to2017-09-04_custom_AssignmentOfAllOutstandingSharesAndAllDebtRightAgreementMember |
2017-09-03 - 2017-09-04 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:AssignmentOfAllOutstandingSharesAndAllDebtRightAgreementMember |
AsOf2017-09-04_custom_AssignmentOfAllOutstandingSharesAndAllDebtRightAgreementMember_custom_SinoPrideDevelopmentLimitedMember_custom_HKDCurrencyMember |
2017-09-04 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:AssignmentOfAllOutstandingSharesAndAllDebtRightAgreementMember dei:LegalEntityAxis: custom:SinoPrideDevelopmentLimitedMember us-gaap:AwardTypeAxis: custom:HKDCurrencyMember |
AsOf2017-09-04_custom_AssignmentOfAllOutstandingSharesAndAllDebtRightAgreementMember_custom_SinoPrideDevelopmentLimitedMember |
2017-09-04 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:AssignmentOfAllOutstandingSharesAndAllDebtRightAgreementMember dei:LegalEntityAxis: custom:SinoPrideDevelopmentLimitedMember |
AsOf2017-09-04_custom_AssignmentOfAllOutstandingSharesAndAllDebtRightAgreementMember_custom_IvenInternationalGroupLimitedMember_custom_HKDCurrencyMember |
2017-09-04 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:AssignmentOfAllOutstandingSharesAndAllDebtRightAgreementMember dei:LegalEntityAxis: custom:IvenInternationalGroupLimitedMember us-gaap:AwardTypeAxis: custom:HKDCurrencyMember |
AsOf2017-09-04_custom_AssignmentOfAllOutstandingSharesAndAllDebtRightAgreementMember_custom_IvenInternationalGroupLimitedMember |
2017-09-04 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:AssignmentOfAllOutstandingSharesAndAllDebtRightAgreementMember dei:LegalEntityAxis: custom:IvenInternationalGroupLimitedMember |
From2019-01-01to2019-06-30_custom_RMBCurrencyMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
AsOf2019-06-30_custom_DalianVictoryPlazaDevelopmentCoLtdMember_custom_MarchTwoTwoThousandAndSeventeenToMarchOneTwoThousandAndNineteenMember |
2019-06-30 |
0001723083 |
dei:LegalEntityAxis: custom:DalianVictoryPlazaDevelopmentCoLtdMember srt:StatementScenarioAxis: custom:MarchTwoTwoThousandAndSeventeenToMarchOneTwoThousandAndNineteenMember |
AsOf2017-12-31_custom_DalianVictoryPlazaDevelopmentCoLtdMember |
2017-12-31 |
0001723083 |
dei:LegalEntityAxis: custom:DalianVictoryPlazaDevelopmentCoLtdMember |
AsOf2017-11-13 |
2017-11-13 |
0001723083 |
|
From2019-01-01to2019-06-30_srt_MinimumMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:RangeAxis: srt:MinimumMember |
From2019-01-01to2019-06-30_srt_MaximumMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:RangeAxis: srt:MaximumMember |
From2019-01-01to2019-06-30_custom_GroupAPropertiesMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupAPropertiesMember |
From2019-01-01to2019-06-30_custom_GroupBAndCPropertiesMember_custom_UnrelatedIndividualsandEntitiesMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupBAndCPropertiesMember us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:UnrelatedIndividualsandEntitiesMember |
From2019-01-01to2019-06-30_custom_GroupDPropertiesMember_custom_UnrelatedIndividualsandEntitiesMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupDPropertiesMember us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:UnrelatedIndividualsandEntitiesMember |
From2018-01-01to2018-12-31_custom_GroupDPropertiesMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupDPropertiesMember |
From2017-01-01to2017-12-31_custom_GroupDPropertiesMember |
2017-01-01 - 2017-12-31 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupDPropertiesMember |
AsOf2018-12-31_us-gaap_AccountingStandardsUpdate201602Member |
2018-12-31 |
0001723083 |
us-gaap:AdjustmentsForNewAccountingPronouncementsAxis: us-gaap:AccountingStandardsUpdate201602Member |
AsOf2017-12-31_us-gaap_AccountingStandardsUpdate201602Member |
2017-12-31 |
0001723083 |
us-gaap:AdjustmentsForNewAccountingPronouncementsAxis: us-gaap:AccountingStandardsUpdate201602Member |
AsOf2018-12-31_custom_PeriodendMember_custom_RMBMember |
2018-12-31 |
0001723083 |
srt:StatementScenarioAxis: custom:PeriodendMember us-gaap:AwardTypeAxis: custom:RMBMember |
AsOf2017-12-31_custom_YearendMember_custom_RMBMember |
2017-12-31 |
0001723083 |
srt:StatementScenarioAxis: custom:YearendMember us-gaap:AwardTypeAxis: custom:RMBMember |
AsOf2016-12-31_custom_YearendMember_custom_RMBMember |
2016-12-31 |
0001723083 |
srt:StatementScenarioAxis: custom:YearendMember us-gaap:AwardTypeAxis: custom:RMBMember |
AsOf2018-12-31_custom_AnnualAverageMember_custom_RMBMember |
2018-12-31 |
0001723083 |
srt:StatementScenarioAxis: custom:AnnualAverageMember us-gaap:AwardTypeAxis: custom:RMBMember |
AsOf2017-12-31_custom_AnnualAverageMember_custom_RMBMember |
2017-12-31 |
0001723083 |
srt:StatementScenarioAxis: custom:AnnualAverageMember us-gaap:AwardTypeAxis: custom:RMBMember |
AsOf2016-12-31_custom_AnnualAverageMember_custom_RMBMember |
2016-12-31 |
0001723083 |
srt:StatementScenarioAxis: custom:AnnualAverageMember us-gaap:AwardTypeAxis: custom:RMBMember |
AsOf2018-12-31_custom_PeriodendMember_custom_HKMember |
2018-12-31 |
0001723083 |
srt:StatementScenarioAxis: custom:PeriodendMember us-gaap:AwardTypeAxis: custom:HKMember |
AsOf2017-12-31_custom_YearendMember_custom_HKMember |
2017-12-31 |
0001723083 |
srt:StatementScenarioAxis: custom:YearendMember us-gaap:AwardTypeAxis: custom:HKMember |
AsOf2016-12-31_custom_YearendMember_custom_HKMember |
2016-12-31 |
0001723083 |
srt:StatementScenarioAxis: custom:YearendMember us-gaap:AwardTypeAxis: custom:HKMember |
AsOf2018-12-31_custom_AnnualAverageMember_custom_HKMember |
2018-12-31 |
0001723083 |
srt:StatementScenarioAxis: custom:AnnualAverageMember us-gaap:AwardTypeAxis: custom:HKMember |
AsOf2017-12-31_custom_AnnualAverageMember_custom_HKMember |
2017-12-31 |
0001723083 |
srt:StatementScenarioAxis: custom:AnnualAverageMember us-gaap:AwardTypeAxis: custom:HKMember |
AsOf2016-12-31_custom_AnnualAverageMember_custom_HKMember |
2016-12-31 |
0001723083 |
srt:StatementScenarioAxis: custom:AnnualAverageMember us-gaap:AwardTypeAxis: custom:HKMember |
AsOf2019-06-30_custom_GroupAPropertiesMember |
2019-06-30 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupAPropertiesMember |
From2019-01-01to2019-06-30_custom_GroupBPropertiesMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupBPropertiesMember |
AsOf2019-06-30_custom_GroupBPropertiesMember |
2019-06-30 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupBPropertiesMember |
From2019-01-01to2019-06-30_custom_GroupCPropertiesMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupCPropertiesMember |
AsOf2019-06-30_custom_GroupCPropertiesMember |
2019-06-30 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupCPropertiesMember |
AsOf2019-06-30_custom_GroupDPropertiesMember |
2019-06-30 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupDPropertiesMember |
From2018-01-01to2018-12-31_custom_GroupAMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupAMember |
From2018-01-01to2018-12-31_custom_GroupBMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupBMember |
From2018-01-01to2018-12-31_custom_GroupCMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupCMember |
From2018-01-01to2018-12-31_custom_GroupDMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupDMember |
AsOf2018-12-31_custom_GroupAMember |
2018-12-31 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupAMember |
AsOf2018-12-31_custom_GroupBMember |
2018-12-31 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupBMember |
AsOf2018-12-31_custom_GroupCMember |
2018-12-31 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupCMember |
AsOf2018-12-31_custom_GroupDMember |
2018-12-31 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupDMember |
From2019-01-01to2019-06-30_custom_GroupAMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupAMember |
From2019-01-01to2019-06-30_custom_GroupBMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupBMember |
From2019-01-01to2019-06-30_custom_GroupCMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupCMember |
From2019-01-01to2019-06-30_custom_GroupDMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupDMember |
AsOf2019-06-30_custom_GroupAMember |
2019-06-30 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupAMember |
AsOf2019-06-30_custom_GroupBMember |
2019-06-30 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupBMember |
AsOf2019-06-30_custom_GroupCMember |
2019-06-30 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupCMember |
AsOf2019-06-30_custom_GroupDMember |
2019-06-30 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupDMember |
AsOf2019-06-30_custom_GroupDPropertyMember |
2019-06-30 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:GroupDPropertyMember |
From2019-01-01to2019-06-30_custom_GroupDPropertyMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:GroupDPropertyMember |
AsOf2018-12-31_custom_GroupDPropertyMember |
2018-12-31 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:GroupDPropertyMember |
From2018-01-01to2018-12-31_custom_GroupDPropertyMember |
2018-01-01 - 2018-12-31 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:GroupDPropertyMember |
AsOf2018-12-31_custom_GroupAPropertyMember |
2018-12-31 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:GroupAPropertyMember |
From2018-01-01to2018-12-31_custom_GroupAPropertyMember |
2018-01-01 - 2018-12-31 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:GroupAPropertyMember |
AsOf2018-06-30_custom_GroupAPropertyMember |
2018-06-30 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:GroupAPropertyMember |
From2019-01-01to2019-06-30_custom_GroupAPropertyMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:GroupAPropertyMember |
AsOf2019-06-30_custom_ThreeHundredAndNinetyMRMBLoanMember |
2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:ThreeHundredAndNinetyMRMBLoanMember |
AsOf2019-06-30_custom_FiftyMRMBLoanMember |
2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:FiftyMRMBLoanMember |
AsOf2018-12-31_custom_RMBFiftyMLoanMember_custom_RMBCurrencyMember |
2018-12-31 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBFiftyMLoanMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
AsOf2018-12-31_custom_GroupBPropertyMember |
2018-12-31 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:GroupBPropertyMember |
From2018-01-01to2018-12-31_custom_GroupBPropertyMember |
2018-01-01 - 2018-12-31 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:GroupBPropertyMember |
AsOf2019-06-30_custom_GroupBPropertyMember |
2019-06-30 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:GroupBPropertyMember |
From2019-01-01to2019-06-30_custom_GroupBPropertyMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:GroupBPropertyMember |
AsOf2018-12-31_custom_SMLFinancingAgreementMember |
2018-12-31 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:SMLFinancingAgreementMember |
From2019-01-01to2019-06-30_custom_SMLFinancingAgreementMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:SMLFinancingAgreementMember |
AsOf2019-06-30_custom_SMLFinancingAgreementMember |
2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:SMLFinancingAgreementMember |
From2018-01-01to2018-12-31_custom_ThirdPartiesMember_custom_PurchasebackOptionMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:ThirdPartiesMember us-gaap:OptionIndexedToIssuersEquityTypeAxis: custom:PurchasebackOptionMember |
AsOf2018-12-31_custom_ThirdPartiesMember_custom_PurchasebackOptionMember |
2018-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:ThirdPartiesMember us-gaap:OptionIndexedToIssuersEquityTypeAxis: custom:PurchasebackOptionMember |
From2018-01-01to2018-12-31_custom_PropertyAndEquipmentMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:PropertyAndEquipmentMember |
From2018-01-01to2018-12-31_us-gaap_OfficeEquipmentMember_srt_MinimumMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:OfficeEquipmentMember srt:RangeAxis: srt:MinimumMember |
From2018-01-01to2018-12-31_us-gaap_OfficeEquipmentMember_srt_MaximumMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:OfficeEquipmentMember srt:RangeAxis: srt:MaximumMember |
From2018-01-01to2018-12-31_us-gaap_MachineryAndEquipmentMember_srt_MinimumMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:MachineryAndEquipmentMember srt:RangeAxis: srt:MinimumMember |
From2018-01-01to2018-12-31_us-gaap_MachineryAndEquipmentMember_srt_MaximumMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:MachineryAndEquipmentMember srt:RangeAxis: srt:MaximumMember |
From2018-01-01to2018-12-31_custom_AutoMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:AutoMember |
From2018-01-01to2018-12-31_custom_ImprovementMember_srt_MinimumMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:ImprovementMember srt:RangeAxis: srt:MinimumMember |
From2018-01-01to2018-12-31_custom_ImprovementMember_srt_MaximumMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:ImprovementMember srt:RangeAxis: srt:MaximumMember |
AsOf2018-12-31_custom_PropertyAndEquipmentMember |
2018-12-31 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:PropertyAndEquipmentMember |
AsOf2018-12-31_us-gaap_OfficeEquipmentMember |
2018-12-31 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:OfficeEquipmentMember |
AsOf2018-12-31_us-gaap_MachineryAndEquipmentMember |
2018-12-31 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:MachineryAndEquipmentMember |
AsOf2018-12-31_custom_AutoMember |
2018-12-31 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:AutoMember |
AsOf2018-12-31_custom_ImprovementsMember |
2018-12-31 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:ImprovementsMember |
From2019-01-01to2019-06-30_custom_PropertyAndEquipmentMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:PropertyAndEquipmentMember |
From2019-01-01to2019-06-30_us-gaap_OfficeEquipmentMember_srt_MinimumMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:OfficeEquipmentMember srt:RangeAxis: srt:MinimumMember |
From2019-01-01to2019-06-30_us-gaap_OfficeEquipmentMember_srt_MaximumMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:OfficeEquipmentMember srt:RangeAxis: srt:MaximumMember |
From2019-01-01to2019-06-30_us-gaap_MachineryAndEquipmentMember_srt_MinimumMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:MachineryAndEquipmentMember srt:RangeAxis: srt:MinimumMember |
From2019-01-01to2019-06-30_us-gaap_MachineryAndEquipmentMember_srt_MaximumMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:MachineryAndEquipmentMember srt:RangeAxis: srt:MaximumMember |
From2019-01-01to2019-06-30_custom_AutoMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:AutoMember |
From2019-01-01to2019-06-30_custom_ImprovementMember_srt_MinimumMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:ImprovementMember srt:RangeAxis: srt:MinimumMember |
From2019-01-01to2019-06-30_custom_ImprovementMember_srt_MaximumMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:ImprovementMember srt:RangeAxis: srt:MaximumMember |
AsOf2019-06-30_custom_PropertyAndEquipmentMember |
2019-06-30 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:PropertyAndEquipmentMember |
AsOf2019-06-30_us-gaap_OfficeEquipmentMember |
2019-06-30 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:OfficeEquipmentMember |
AsOf2019-06-30_us-gaap_MachineryAndEquipmentMember |
2019-06-30 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: us-gaap:MachineryAndEquipmentMember |
AsOf2019-06-30_custom_AutoMember |
2019-06-30 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:AutoMember |
AsOf2019-06-30_custom_ImprovementsMember |
2019-06-30 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:ImprovementsMember |
From2018-01-01to2018-12-31_custom_ManagementSoftwareMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:ManagementSoftwareMember |
AsOf2018-12-31_custom_ManagementSoftwareMember |
2018-12-31 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:ManagementSoftwareMember |
From2017-01-01to2017-12-31_custom_ManagementSoftwareMember |
2017-01-01 - 2017-12-31 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:ManagementSoftwareMember |
AsOf2017-12-31_custom_ManagementSoftwareMember |
2017-12-31 |
0001723083 |
us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:ManagementSoftwareMember |
From2018-03-26to2018-03-27 |
2018-03-26 - 2018-03-27 |
0001723083 |
|
AsOf2018-03-27 |
2018-03-27 |
0001723083 |
|
AsOf2018-12-31_custom_FinancingLeaseBMember |
2018-12-31 |
0001723083 |
us-gaap:LeaseArrangementTypeAxis: custom:FinancingLeaseBMember |
AsOf2018-12-31_custom_FinancingLeaseDMember |
2018-12-31 |
0001723083 |
us-gaap:LeaseArrangementTypeAxis: custom:FinancingLeaseDMember |
AsOf2018-12-31_custom_OperatingLeasesMember |
2018-12-31 |
0001723083 |
us-gaap:LeaseArrangementTypeAxis: custom:OperatingLeasesMember |
AsOf2019-06-30_custom_FinancingLeaseBMember |
2019-06-30 |
0001723083 |
us-gaap:LeaseArrangementTypeAxis: custom:FinancingLeaseBMember |
AsOf2019-06-30_custom_FinancingLeaseDMember |
2019-06-30 |
0001723083 |
us-gaap:LeaseArrangementTypeAxis: custom:FinancingLeaseDMember |
AsOf2019-06-30_custom_OperatingLeasesMember |
2019-06-30 |
0001723083 |
us-gaap:LeaseArrangementTypeAxis: custom:OperatingLeasesMember |
AsOf2014-07-20_custom_RMBThreeHundredAndNinetyMLoanMember |
2014-07-20 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBThreeHundredAndNinetyMLoanMember |
AsOf2014-07-20_custom_RMBThreeHundredAndNinetyMLoanMember_custom_RMBCurrencyMember |
2014-07-20 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBThreeHundredAndNinetyMLoanMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
From2015-10-23to2015-10-24_custom_RMBThreeHundredAndNinetyMLoanMember |
2015-10-23 - 2015-10-24 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBThreeHundredAndNinetyMLoanMember |
AsOf2015-10-24_custom_RMBThreeHundredAndNinetyMLoanMember |
2015-10-24 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBThreeHundredAndNinetyMLoanMember |
AsOf2018-06-30_custom_RMBThreeHundredAndNinetyMLoanMember |
2018-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBThreeHundredAndNinetyMLoanMember |
From2014-07-19to2014-07-20_custom_RMBThreeHundredAndNinetyMLoanMember |
2014-07-19 - 2014-07-20 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBThreeHundredAndNinetyMLoanMember |
From2017-08-16to2017-08-17_custom_RMBThreeHundredAndNinetyMLoanMember |
2017-08-16 - 2017-08-17 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBThreeHundredAndNinetyMLoanMember |
From2014-07-19to2014-07-20_custom_RMBThreeHundredAndNinetyMLoanMember_custom_RMBCurrencyMember |
2014-07-19 - 2014-07-20 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBThreeHundredAndNinetyMLoanMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
AsOf2018-12-31_custom_RMBThreeHundredAndNinetyMLoanMember_custom_RMBCurrencyMember |
2018-12-31 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBThreeHundredAndNinetyMLoanMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
AsOf2017-12-31_custom_RMBThreeHundredAndNinetyMLoanMember_custom_RMBCurrencyMember |
2017-12-31 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBThreeHundredAndNinetyMLoanMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
AsOf2015-03-24_custom_RMBFiftyMLoanMember |
2015-03-24 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBFiftyMLoanMember |
AsOf2015-03-24_custom_RMBFiftyMLoanMember_custom_RMBCurrencyMember |
2015-03-24 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBFiftyMLoanMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
From2015-10-23to2015-10-24_custom_RMBFiftyMLoanMember |
2015-10-23 - 2015-10-24 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBFiftyMLoanMember |
AsOf2015-10-24_custom_RMBFiftyMLoanMember |
2015-10-24 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBFiftyMLoanMember |
AsOf2018-06-30_custom_RMBFiftyMLoanMember |
2018-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBFiftyMLoanMember |
From2015-03-23to2015-03-24_custom_RMBFiftyMLoanMember |
2015-03-23 - 2015-03-24 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBFiftyMLoanMember |
AsOf2017-12-31_custom_RMBFiftyMLoanMember_custom_RMBCurrencyMember |
2017-12-31 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBFiftyMLoanMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
AsOf2017-12-21_custom_RMBTwentyThreeMLoanMember |
2017-12-21 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBTwentyThreeMLoanMember |
AsOf2017-12-21_custom_RMBTwentyThreeMLoanMember_custom_RMBCurrencyMember |
2017-12-21 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBTwentyThreeMLoanMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
AsOf2017-12-28_custom_RMBTwentyThreeMLoanMember |
2017-12-28 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBTwentyThreeMLoanMember |
AsOf2017-12-28_custom_RMBTwentyThreeMLoanMember_custom_RMBCurrencyMember |
2017-12-28 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBTwentyThreeMLoanMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
From2017-12-27to2017-12-28_custom_RMBTwentyThreeMLoanMember |
2017-12-27 - 2017-12-28 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBTwentyThreeMLoanMember |
AsOf2018-01-19_custom_RMBTwentyThreeMLoanMember |
2018-01-19 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBTwentyThreeMLoanMember |
AsOf2018-01-19_custom_RMBTwentyThreeMLoanMember_custom_RMBCurrencyMember |
2018-01-19 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBTwentyThreeMLoanMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
From2018-01-18to2018-01-19_custom_RMBTwentyThreeMLoanMember |
2018-01-18 - 2018-01-19 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBTwentyThreeMLoanMember |
AsOf2017-09-29_custom_RMBNineMLoanMember |
2017-09-29 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBNineMLoanMember |
AsOf2017-09-29_custom_RMBNineMLoanMember_custom_RMBCurrencyMember |
2017-09-29 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBNineMLoanMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
From2017-09-28to2017-09-29_custom_RMBNineMLoanMember |
2017-09-28 - 2017-09-29 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBNineMLoanMember |
From2017-09-26to2017-09-27_custom_HarbinBankMember |
2017-09-26 - 2017-09-27 |
0001723083 |
dei:LegalEntityAxis: custom:HarbinBankMember |
From2017-09-26to2017-09-27_custom_HarbinBankMember_custom_RMBCurrencyMember |
2017-09-26 - 2017-09-27 |
0001723083 |
dei:LegalEntityAxis: custom:HarbinBankMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
AsOf2017-09-27_custom_HarbinBankMember |
2017-09-27 |
0001723083 |
dei:LegalEntityAxis: custom:HarbinBankMember |
AsOf2019-06-30_custom_InterestAtFivePointFourtySixPercentagePerAnnumPayableSevenEightteenTwoThousandAndTwentySevenMember |
2019-06-30 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtFivePointFourtySixPercentagePerAnnumPayableSevenEightteenTwoThousandAndTwentySevenMember |
AsOf2018-12-31_custom_InterestAtSevenPointZeroEightPercentagePerAnnumPayableSevenNineteenTwoThousandAndTwentyFourMember |
2018-12-31 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSevenPointZeroEightPercentagePerAnnumPayableSevenNineteenTwoThousandAndTwentyFourMember |
AsOf2018-12-31_custom_InterestAtSevenPointZeroFiftyPercentagePerAnnumPayableTwelveTwentyTwoThousandAndEighteenMember |
2018-12-31 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSevenPointZeroFiftyPercentagePerAnnumPayableTwelveTwentyTwoThousandAndEighteenMember |
AsOf2018-12-31_custom_InterestAtSixPointZeroFiftyPercentagePerAnnumPayableTwelveTwentyTwoThousandAndEighteenOneMember |
2018-12-31 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSixPointZeroFiftyPercentagePerAnnumPayableTwelveTwentyTwoThousandAndEighteenOneMember |
AsOf2018-12-31_custom_InterestAtSixPointZeroFiftyPercentagePerAnnumPayableNineTwentySevenTwoThousandAndNineteenMember |
2018-12-31 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSixPointZeroFiftyPercentagePerAnnumPayableNineTwentySevenTwoThousandAndNineteenMember |
AsOf2017-12-31_custom_InterestAtSevenPointEightySixPercentagePerAnnumPayableSevenEightteenTwoThousandAndTwentySevenMember |
2017-12-31 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSevenPointEightySixPercentagePerAnnumPayableSevenEightteenTwoThousandAndTwentySevenMember |
AsOf2019-06-30_custom_InterestAtSevenPointZeroEightPercentagePerAnnumPayableSevenNineteenTwoThousandAndTwentyFourMember |
2019-06-30 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSevenPointZeroEightPercentagePerAnnumPayableSevenNineteenTwoThousandAndTwentyFourMember |
AsOf2019-06-30_custom_InterestAtSevenPointZeroFiftyPercentagePerAnnumPayableTwelveTwentyTwoThousandAndEighteenMember |
2019-06-30 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSevenPointZeroFiftyPercentagePerAnnumPayableTwelveTwentyTwoThousandAndEighteenMember |
AsOf2019-06-30_custom_InterestAtSixPointZeroFiftyPercentagePerAnnumPayableTwelveTwentyTwoThousandAndEighteenOneMember |
2019-06-30 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSixPointZeroFiftyPercentagePerAnnumPayableTwelveTwentyTwoThousandAndEighteenOneMember |
AsOf2019-06-30_custom_InterestAtSixPointZeroFiftyPercentagePerAnnumPayableNineTwentySevenTwoThousandAndNineteenMember |
2019-06-30 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSixPointZeroFiftyPercentagePerAnnumPayableNineTwentySevenTwoThousandAndNineteenMember |
AsOf2019-06-30_custom_BuybackFinancingAgreementsMember_custom_UnrelatedIndividualsMember |
2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:BuybackFinancingAgreementsMember srt:TitleOfIndividualAxis: custom:UnrelatedIndividualsMember |
From2019-01-01to2019-06-30_custom_BuybackFinancingAgreementsMember_custom_UnrelatedIndividualsMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:BuybackFinancingAgreementsMember srt:TitleOfIndividualAxis: custom:UnrelatedIndividualsMember |
AsOf2018-12-31_custom_BuyBackPayableMember |
2018-12-31 |
0001723083 |
us-gaap:ExtinguishmentOfDebtAxis: custom:BuyBackPayableMember |
AsOf2019-06-30_custom_BuyBackPayableMember |
2019-06-30 |
0001723083 |
us-gaap:ExtinguishmentOfDebtAxis: custom:BuyBackPayableMember |
AsOf2019-06-30_custom_StrategyCooperationAgreementMember |
2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:StrategyCooperationAgreementMember |
From2019-01-01to2019-06-30_custom_StrategyCooperationAgreementMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:StrategyCooperationAgreementMember |
AsOf2018-12-31_custom_BuyBackFinancingAgreementsGroupBPropertiesMember |
2018-12-31 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:BuyBackFinancingAgreementsGroupBPropertiesMember |
AsOf2019-06-30_custom_BuyBackFinancingAgreementsGroupBPropertiesMember |
2019-06-30 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:BuyBackFinancingAgreementsGroupBPropertiesMember |
AsOf2018-12-31_custom_SMLFinancingAgreementsGroupCPropertiesMember |
2018-12-31 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:SMLFinancingAgreementsGroupCPropertiesMember |
AsOf2019-06-30_custom_SMLFinancingAgreementsGroupCPropertiesMember |
2019-06-30 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:SMLFinancingAgreementsGroupCPropertiesMember |
AsOf2018-12-31_custom_NetUnamortizedSMLFinancingCostMember |
2018-12-31 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:NetUnamortizedSMLFinancingCostMember |
AsOf2019-06-30_custom_NetUnamortizedSMLFinancingCostMember |
2019-06-30 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:NetUnamortizedSMLFinancingCostMember |
From2018-01-01to2018-12-31_custom_EffectiveAgreementsMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:EffectiveAgreementsMember |
From2019-01-01to2019-06-30_custom_EffectiveAgreementsMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:EffectiveAgreementsMember |
AsOf2018-12-31_custom_EffectiveAgreementsMember |
2018-12-31 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:EffectiveAgreementsMember |
AsOf2019-06-30_custom_EffectiveAgreementsMember |
2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:EffectiveAgreementsMember |
From2018-01-01to2018-12-31_custom_PastDueAgreementsMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:PastDueAgreementsMember |
From2019-01-01to2019-06-30_custom_PastDueAgreementsMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:PastDueAgreementsMember |
AsOf2018-12-31_custom_PastDueAgreementsMember |
2018-12-31 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:PastDueAgreementsMember |
AsOf2019-06-30_custom_PastDueAgreementsMember |
2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:PastDueAgreementsMember |
From2018-01-01to2018-12-31_custom_FinancingAgreementsMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:FinancingAgreementsMember |
From2019-01-01to2019-06-30_custom_FinancingAgreementsMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:FinancingAgreementsMember |
AsOf2018-12-31_custom_FinancingAgreementsMember |
2018-12-31 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:FinancingAgreementsMember |
AsOf2019-06-30_custom_FinancingAgreementsMember |
2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:FinancingAgreementsMember |
AsOf2019-06-30_custom_FutureExpirationYearOneMember |
2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:FutureExpirationYearOneMember |
AsOf2019-06-30_custom_FutureExpirationYearTwoMember |
2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:FutureExpirationYearTwoMember |
AsOf2019-06-30_custom_FutureExpirationYearThreeMember |
2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:FutureExpirationYearThreeMember |
AsOf2019-06-30_custom_FutureExpirationYearFourMember |
2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:FutureExpirationYearFourMember |
AsOf2019-06-30_custom_FutureExpirationYearFiveMember |
2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:FutureExpirationYearFiveMember |
From2018-01-01to2018-12-31_custom_FutureExpirationYearOneMember |
2018-01-01 - 2018-12-31 |
0001723083 |
srt:StatementScenarioAxis: custom:FutureExpirationYearOneMember |
From2018-01-01to2018-12-31_custom_FutureExpirationYearTwoMember |
2018-01-01 - 2018-12-31 |
0001723083 |
srt:StatementScenarioAxis: custom:FutureExpirationYearTwoMember |
From2018-01-01to2018-12-31_custom_FutureExpirationYearThreeMember |
2018-01-01 - 2018-12-31 |
0001723083 |
srt:StatementScenarioAxis: custom:FutureExpirationYearThreeMember |
From2018-01-01to2018-12-31_custom_FutureExpirationYearFourMember |
2018-01-01 - 2018-12-31 |
0001723083 |
srt:StatementScenarioAxis: custom:FutureExpirationYearFourMember |
From2018-01-01to2018-12-31_custom_FutureExpirationYearFiveMember |
2018-01-01 - 2018-12-31 |
0001723083 |
srt:StatementScenarioAxis: custom:FutureExpirationYearFiveMember |
AsOf2018-12-31_custom_FinancingLeaseMember_custom_PropertyGroupBMember |
2018-12-31 |
0001723083 |
us-gaap:LeaseArrangementTypeAxis: custom:FinancingLeaseMember us-gaap:PropertySubjectToOrAvailableForOperatingLeaseAxis: custom:PropertyGroupBMember |
AsOf2019-06-30_custom_FinancingLeaseMember_custom_PropertyGroupBMember |
2019-06-30 |
0001723083 |
us-gaap:LeaseArrangementTypeAxis: custom:FinancingLeaseMember us-gaap:PropertySubjectToOrAvailableForOperatingLeaseAxis: custom:PropertyGroupBMember |
AsOf2018-12-31_custom_FinancingLeaseMember_custom_PropertyGroupDMember |
2018-12-31 |
0001723083 |
us-gaap:LeaseArrangementTypeAxis: custom:FinancingLeaseMember us-gaap:PropertySubjectToOrAvailableForOperatingLeaseAxis: custom:PropertyGroupDMember |
AsOf2019-06-30_custom_FinancingLeaseMember_custom_PropertyGroupDMember |
2019-06-30 |
0001723083 |
us-gaap:LeaseArrangementTypeAxis: custom:FinancingLeaseMember us-gaap:PropertySubjectToOrAvailableForOperatingLeaseAxis: custom:PropertyGroupDMember |
AsOf2018-12-31_custom_OperatingLeaseMember_custom_OfficeRentMember |
2018-12-31 |
0001723083 |
us-gaap:LeaseArrangementTypeAxis: custom:OperatingLeaseMember us-gaap:PropertySubjectToOrAvailableForOperatingLeaseAxis: custom:OfficeRentMember |
AsOf2017-12-31_custom_OperatingLeaseMember_custom_OfficeRentMember |
2017-12-31 |
0001723083 |
us-gaap:LeaseArrangementTypeAxis: custom:OperatingLeaseMember us-gaap:PropertySubjectToOrAvailableForOperatingLeaseAxis: custom:OfficeRentMember |
From2019-01-01to2019-06-30_country_CN_us-gaap_ForeignCountryMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:StatementGeographicalAxis: country:CN us-gaap:IncomeTaxAuthorityAxis: us-gaap:ForeignCountryMember |
From2019-01-01to2019-06-30_country_HK_us-gaap_ForeignCountryMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:StatementGeographicalAxis: country:HK us-gaap:IncomeTaxAuthorityAxis: us-gaap:ForeignCountryMember |
AsOf2018-12-31_custom_DalianVictoryPlazaDevelopmentCoLtdDalianVictoryBusinessManagementCoLtdSinoPrideDevelopmentLimitedMember |
2018-12-31 |
0001723083 |
dei:LegalEntityAxis: custom:DalianVictoryPlazaDevelopmentCoLtdDalianVictoryBusinessManagementCoLtdSinoPrideDevelopmentLimitedMember |
AsOf2019-06-30_custom_DalianVictoryPlazaDevelopmentCoLtdDalianVictoryBusinessManagementCoLtdSinoPrideDevelopmentLimitedMember |
2019-06-30 |
0001723083 |
dei:LegalEntityAxis: custom:DalianVictoryPlazaDevelopmentCoLtdDalianVictoryBusinessManagementCoLtdSinoPrideDevelopmentLimitedMember |
From2018-01-01to2018-12-31_country_CN |
2018-01-01 - 2018-12-31 |
0001723083 |
srt:StatementGeographicalAxis: country:CN |
From2017-01-01to2017-12-31_country_CN |
2017-01-01 - 2017-12-31 |
0001723083 |
srt:StatementGeographicalAxis: country:CN |
From2017-10-01to2017-12-31_country_CN |
2017-10-01 - 2017-12-31 |
0001723083 |
srt:StatementGeographicalAxis: country:CN |
From2018-10-01to2018-12-31_country_CN |
2018-10-01 - 2018-12-31 |
0001723083 |
srt:StatementGeographicalAxis: country:CN |
From2018-01-01to2018-12-31_country_HK |
2018-01-01 - 2018-12-31 |
0001723083 |
srt:StatementGeographicalAxis: country:HK |
From2017-01-01to2017-12-31_country_HK |
2017-01-01 - 2017-12-31 |
0001723083 |
srt:StatementGeographicalAxis: country:HK |
From2018-10-01to2018-12-31_country_HK |
2018-10-01 - 2018-12-31 |
0001723083 |
srt:StatementGeographicalAxis: country:HK |
From2017-10-01to2017-12-31_country_HK |
2017-10-01 - 2017-12-31 |
0001723083 |
srt:StatementGeographicalAxis: country:HK |
From2018-01-01to2018-12-31_custom_DalianVictoryPlazaDevelopmentCoLtdMember |
2018-01-01 - 2018-12-31 |
0001723083 |
srt:OwnershipAxis: custom:DalianVictoryPlazaDevelopmentCoLtdMember |
AsOf2019-06-30_custom_DalianVictoryDevelopmentCoLtdMember_custom_DalianVictoryPlazaDevelopmentCoLtdMember_custom_LandAndInfrastructureMember |
2019-06-30 |
0001723083 |
srt:OwnershipAxis: custom:DalianVictoryDevelopmentCoLtdMember us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DalianVictoryPlazaDevelopmentCoLtdMember us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:LandAndInfrastructureMember |
From2019-01-01to2019-06-30_custom_DalianVictoryDevelopmentCoLtdMember_custom_DalianVictoryPlazaDevelopmentCoLtdMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:OwnershipAxis: custom:DalianVictoryDevelopmentCoLtdMember us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DalianVictoryPlazaDevelopmentCoLtdMember |
AsOf2000-12-25_custom_DalianVictoryDevelopmentCoLtdMember |
2000-12-25 |
0001723083 |
srt:OwnershipAxis: custom:DalianVictoryDevelopmentCoLtdMember |
AsOf2000-12-25_custom_DalianVictoryDevelopmentCoLtdMember_custom_RMBMember |
2000-12-25 |
0001723083 |
srt:OwnershipAxis: custom:DalianVictoryDevelopmentCoLtdMember us-gaap:AwardTypeAxis: custom:RMBMember |
AsOf2018-12-31_custom_OneRelatedIndividualMember |
2018-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:OneRelatedIndividualMember |
AsOf2019-06-30_custom_OneRelatedIndividualMember |
2019-06-30 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:OneRelatedIndividualMember |
From1996-01-01to2008-12-31_custom_SinoPrideDevelopmentLimitedMember |
1996-01-01 - 2008-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SinoPrideDevelopmentLimitedMember |
From1998-01-01to2014-12-31_custom_SinoPrideDevelopmentLimitedMember |
1998-01-01 - 2014-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SinoPrideDevelopmentLimitedMember |
From2015-01-01to2015-12-31_custom_SinoPrideDevelopmentLimitedMember |
2015-01-01 - 2015-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SinoPrideDevelopmentLimitedMember |
AsOf2018-12-31_custom_SinoPrideDevelopmentLimitedMember-986484515 |
2018-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SinoPrideDevelopmentLimitedMember |
AsOf2018-12-31_custom_ShareholderMember |
2018-12-31 |
0001723083 |
srt:TitleOfIndividualAxis: custom:ShareholderMember |
AsOf2019-06-30_custom_ShareholderMember |
2019-06-30 |
0001723083 |
srt:TitleOfIndividualAxis: custom:ShareholderMember |
AsOf2019-06-30_custom_MrAlexBrownMember |
2019-06-30 |
0001723083 |
srt:TitleOfIndividualAxis: custom:MrAlexBrownMember |
AsOf2017-06-30_custom_MrAlexBrownMember_custom_IvenInternationalGroupLimitedMember |
2017-06-30 |
0001723083 |
srt:TitleOfIndividualAxis: custom:MrAlexBrownMember srt:OwnershipAxis: custom:IvenInternationalGroupLimitedMember |
AsOf2017-06-30_custom_MrAlexBrownMember_custom_IvenInternationalGroupLimitedMember_custom_DalianYiwenNewMaterialsTechnologyDevelopmentCoLtdMember |
2017-06-30 |
0001723083 |
srt:TitleOfIndividualAxis: custom:MrAlexBrownMember dei:LegalEntityAxis: custom:IvenInternationalGroupLimitedMember srt:OwnershipAxis: custom:DalianYiwenNewMaterialsTechnologyDevelopmentCoLtdMember |
AsOf2017-06-30_custom_MrAlexBrownMember_custom_IvenInternationalGroupLimitedMember_country_CN |
2017-06-30 |
0001723083 |
srt:TitleOfIndividualAxis: custom:MrAlexBrownMember srt:OwnershipAxis: custom:IvenInternationalGroupLimitedMember srt:StatementGeographicalAxis: country:CN |
AsOf2017-06-30_custom_MrsAlexBrownMember_custom_IvenInternationalGroupLimitedMember_country_CN |
2017-06-30 |
0001723083 |
srt:TitleOfIndividualAxis: custom:MrsAlexBrownMember srt:OwnershipAxis: custom:IvenInternationalGroupLimitedMember srt:StatementGeographicalAxis: country:CN |
From2016-11-01to2016-11-30_custom_AssignmentOfCommonStockAndDebtRightsMember_custom_IvenInternationalGroupLimitedMember_custom_SinoPrideDevelopmentLimitedMember |
2016-11-01 - 2016-11-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:AssignmentOfCommonStockAndDebtRightsMember us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:IvenInternationalGroupLimitedMember dei:LegalEntityAxis: custom:SinoPrideDevelopmentLimitedMember |
From2017-09-03to2017-09-04_custom_AssignmentOfAllOutstandingSharesAndAllDebtRightsAgreementMember_custom_VictoryCommercialInvestmentLtdMember_custom_SinoPrideDevelopmentLimitedMember |
2017-09-03 - 2017-09-04 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:AssignmentOfAllOutstandingSharesAndAllDebtRightsAgreementMember us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:VictoryCommercialInvestmentLtdMember dei:LegalEntityAxis: custom:SinoPrideDevelopmentLimitedMember |
AsOf2017-09-04_custom_AssignmentOfAllOutstandingSharesAndAllDebtRightAgreementMember_custom_VictoryCommercialInvestmentLtdMember_custom_SinoPrideDevelopmentLimitedMember_currency_HKD |
2017-09-04 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:AssignmentOfAllOutstandingSharesAndAllDebtRightAgreementMember us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:VictoryCommercialInvestmentLtdMember dei:LegalEntityAxis: custom:SinoPrideDevelopmentLimitedMember srt:CurrencyAxis: currency:HKD |
AsOf2017-09-04_custom_AssignmentOfAllOutstandingSharesAndAllDebtRightsAgreementMember_custom_VictoryCommercialInvestmentLtdMember_custom_SinoPrideDevelopmentLimitedMember |
2017-09-04 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:AssignmentOfAllOutstandingSharesAndAllDebtRightsAgreementMember us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:VictoryCommercialInvestmentLtdMember dei:LegalEntityAxis: custom:SinoPrideDevelopmentLimitedMember |
AsOf2018-12-31_custom_ShareholderMember_custom_SinoPrideDevelopmentLimitedMember_custom_AssignmentOfAllOutstandingSharesAndAllDebtRightAgreementMember_custom_VictoryCommercialInvestmentLtdMember_currency_HKD |
2018-12-31 |
0001723083 |
srt:TitleOfIndividualAxis: custom:ShareholderMember dei:LegalEntityAxis: custom:SinoPrideDevelopmentLimitedMember us-gaap:TypeOfArrangementAxis: custom:AssignmentOfAllOutstandingSharesAndAllDebtRightAgreementMember us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:VictoryCommercialInvestmentLtdMember srt:CurrencyAxis: currency:HKD |
AsOf2018-12-31_custom_ShareholderMember_custom_SinoPrideDevelopmentLimitedMember_custom_AssignmentOfAllOutstandingSharesAndAllDebtRightAgreementMember_custom_VictoryCommercialInvestmentLtdMember |
2018-12-31 |
0001723083 |
srt:TitleOfIndividualAxis: custom:ShareholderMember dei:LegalEntityAxis: custom:SinoPrideDevelopmentLimitedMember us-gaap:TypeOfArrangementAxis: custom:AssignmentOfAllOutstandingSharesAndAllDebtRightAgreementMember us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:VictoryCommercialInvestmentLtdMember |
AsOf2018-12-31_custom_DalianVictoryPlazaDevelopmentCoLtdMember-981288656 |
2018-12-31 |
0001723083 |
srt:OwnershipAxis: custom:DalianVictoryPlazaDevelopmentCoLtdMember |
AsOf2018-12-31_custom_DalianVictoryDevelopmentCoLtdMember-983148640 |
2018-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DalianVictoryDevelopmentCoLtdMember |
AsOf2017-12-31_custom_DalianVictoryDevelopmentCoLtdMember |
2017-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DalianVictoryDevelopmentCoLtdMember |
AsOf2018-12-31_custom_RelatedIndividualMember |
2018-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:RelatedIndividualMember |
AsOf2017-12-31_custom_RelatedIndividualMember |
2017-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:RelatedIndividualMember |
AsOf2018-12-31_custom_DalianVictoryDevelopmentCoLtdMember_custom_InfrastructureConstructionMember |
2018-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DalianVictoryDevelopmentCoLtdMember us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:InfrastructureConstructionMember |
AsOf2017-12-31_custom_DalianVictoryDevelopmentCoLtdMember_custom_InfrastructureConstructionMember |
2017-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DalianVictoryDevelopmentCoLtdMember us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:InfrastructureConstructionMember |
AsOf2018-12-31_custom_DalianVictoryDevelopmentCoLtdMember_custom_OtherPayableMember |
2018-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DalianVictoryDevelopmentCoLtdMember srt:TitleOfIndividualAxis: custom:OtherPayableMember |
AsOf2017-12-31_custom_DalianVictoryDevelopmentCoLtdMember_custom_InfrastructureConstructionMember_custom_OtherPayableMember |
2017-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DalianVictoryDevelopmentCoLtdMember us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:InfrastructureConstructionMember srt:TitleOfIndividualAxis: custom:OtherPayableMember |
AsOf2018-12-31_custom_DalianVictoryDevelopmentCoLtd1Member |
2018-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DalianVictoryDevelopmentCoLtd1Member |
AsOf2017-12-31_custom_DalianVictoryDevelopmentCoLtdMember_custom_RMBCurrencyMember |
2017-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DalianVictoryDevelopmentCoLtdMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
AsOf2018-12-31_custom_DalianVictoryDevelopmentCoLtdMember_us-gaap_ForeignExchangeMember |
2018-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DalianVictoryDevelopmentCoLtdMember us-gaap:TradingActivityByTypeAxis: us-gaap:ForeignExchangeMember |
AsOf2017-12-31_custom_DalianVictoryDevelopmentCoLtdMember_us-gaap_ForeignExchangeMember |
2017-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DalianVictoryDevelopmentCoLtdMember us-gaap:TradingActivityByTypeAxis: us-gaap:ForeignExchangeMember |
From2017-01-01to2017-12-31_custom_SinoPrideDevelopmentLimitedMember |
2017-01-01 - 2017-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SinoPrideDevelopmentLimitedMember |
AsOf2016-12-31_custom_SinoPrideDevelopmentLimitedMember |
2016-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SinoPrideDevelopmentLimitedMember |
AsOf2019-06-30_custom_SinoPrideDevelopmentLimitedMember |
2019-06-30 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SinoPrideDevelopmentLimitedMember |
From2018-01-01to2018-12-31_custom_SinoPrideDevelopmentLimitedMember-986515171 |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SinoPrideDevelopmentLimitedMember |
From2017-11-12to2017-11-13_custom_ChairmanAndChiefExecutiveOfficerMember |
2017-11-12 - 2017-11-13 |
0001723083 |
srt:TitleOfIndividualAxis: custom:ChairmanAndChiefExecutiveOfficerMember |
From2017-12-11to2017-12-12_custom_TwoIndividualsMember |
2017-12-11 - 2017-12-12 |
0001723083 |
srt:TitleOfIndividualAxis: custom:TwoIndividualsMember |
From2018-01-01to2018-12-31_custom_ChairmanAndChiefExecutiveOfficerMember |
2018-01-01 - 2018-12-31 |
0001723083 |
srt:TitleOfIndividualAxis: custom:ChairmanAndChiefExecutiveOfficerMember |
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2019-01-01 - 2019-06-30 |
0001723083 |
dei:LegalEntityAxis: custom:DalianVictoryPlazaDevelopmentCoLtdAndDalianVictoryBusinessManagementCoLtdMember |
From2017-01-01to2017-12-31_custom_DalianVictoryBusinessManagementCoLtdMember |
2017-01-01 - 2017-12-31 |
0001723083 |
dei:LegalEntityAxis: custom:DalianVictoryBusinessManagementCoLtdMember |
AsOf2018-12-31_custom_DalianVictoryBusinessManagementCoLtdMember-992682218 |
2018-12-31 |
0001723083 |
srt:OwnershipAxis: custom:DalianVictoryBusinessManagementCoLtdMember |
From2018-01-01to2018-12-31_custom_SinoPrideDevelopmentLimitedMember |
2018-01-01 - 2018-12-31 |
0001723083 |
dei:LegalEntityAxis: custom:SinoPrideDevelopmentLimitedMember |
AsOf2018-12-31_custom_SinoPrideDevelopmentLimitedMember |
2018-12-31 |
0001723083 |
dei:LegalEntityAxis: custom:SinoPrideDevelopmentLimitedMember |
From2018-01-01to2018-12-31_custom_SinoPrideDevelopmentLimitedMember_custom_RMBMember |
2018-01-01 - 2018-12-31 |
0001723083 |
dei:LegalEntityAxis: custom:SinoPrideDevelopmentLimitedMember srt:CurrencyAxis: custom:RMBMember |
From2017-05-17to2017-05-18_custom_UnrelatedIndividualMember |
2017-05-17 - 2017-05-18 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:UnrelatedIndividualMember |
From2017-05-17to2017-05-18_custom_UnrelatedIndividualMember_custom_RMBMember |
2017-05-17 - 2017-05-18 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:UnrelatedIndividualMember srt:CurrencyAxis: custom:RMBMember |
From2017-05-17to2017-05-18_custom_OneRelatedIndividualMember |
2017-05-17 - 2017-05-18 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:OneRelatedIndividualMember |
From2017-05-17to2017-05-18_custom_OneRelatedIndividualMember_custom_RMBMember |
2017-05-17 - 2017-05-18 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:OneRelatedIndividualMember srt:CurrencyAxis: custom:RMBMember |
From2017-05-17to2017-05-18_custom_OneIndividualMember_custom_EmployeeOfDalianVictoryDevelopmentCoLtdMember |
2017-05-17 - 2017-05-18 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:OneIndividualMember srt:TitleOfIndividualAxis: custom:EmployeeOfDalianVictoryDevelopmentCoLtdMember |
From2017-05-17to2017-05-18_custom_OneIndividualMember_custom_EmployeeOfDalianVictoryDevelopmentCoLtdMember_custom_RMBMember |
2017-05-17 - 2017-05-18 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:OneIndividualMember srt:TitleOfIndividualAxis: custom:EmployeeOfDalianVictoryDevelopmentCoLtdMember srt:CurrencyAxis: custom:RMBMember |
From2019-01-01to2019-06-30_us-gaap_SalesRevenueNetMember_custom_TenTenantsMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:ConcentrationRiskByBenchmarkAxis: us-gaap:SalesRevenueNetMember us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:TenTenantsMember |
From2018-01-01to2018-06-30_us-gaap_SalesRevenueNetMember_custom_TenTenantsMember |
2018-01-01 - 2018-06-30 |
0001723083 |
us-gaap:ConcentrationRiskByBenchmarkAxis: us-gaap:SalesRevenueNetMember us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:TenTenantsMember |
AsOf2018-06-06_custom_SinoPrideDevelopmentLimitedMember_custom_DalianVictoryPlazaDevelopmentCoLtdMember |
2018-06-06 |
0001723083 |
us-gaap:BusinessAcquisitionAxis: custom:SinoPrideDevelopmentLimitedMember dei:LegalEntityAxis: custom:DalianVictoryPlazaDevelopmentCoLtdMember |
AsOf2019-06-30_custom_TwentyThreeMRMBLoanMember |
2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:TwentyThreeMRMBLoanMember |
AsOf2018-12-31_custom_LoanMember |
2018-12-31 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:LoanMember |
AsOf2018-12-31_custom_LoanMember_custom_RMBMember |
2018-12-31 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:LoanMember us-gaap:AwardTypeAxis: custom:RMBMember |
AsOf2019-06-30_custom_FinancingLeaseMember_custom_OfficeRentMember |
2019-06-30 |
0001723083 |
us-gaap:LeaseArrangementTypeAxis: custom:FinancingLeaseMember us-gaap:PropertySubjectToOrAvailableForOperatingLeaseAxis: custom:OfficeRentMember |
AsOf2000-12-25_custom_DalianVictoryDevelopmentCoLtdMember_custom_RMBCurrencyMember |
2000-12-25 |
0001723083 |
srt:OwnershipAxis: custom:DalianVictoryDevelopmentCoLtdMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
From2019-01-01to2019-06-30_custom_DalianVictoryDevelopmentCoLtdMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:OwnershipAxis: custom:DalianVictoryDevelopmentCoLtdMember |
From2018-01-01to2018-06-30_custom_DalianVictoryDevelopmentCoLtdMember |
2018-01-01 - 2018-06-30 |
0001723083 |
srt:OwnershipAxis: custom:DalianVictoryDevelopmentCoLtdMember |
AsOf2018-12-31_custom_DalianVictoryDevelopmentCoLtdMember |
2018-12-31 |
0001723083 |
srt:OwnershipAxis: custom:DalianVictoryDevelopmentCoLtdMember |
AsOf2019-06-30_custom_DalianVictoryDevelopmentCoLtdMember |
2019-06-30 |
0001723083 |
srt:OwnershipAxis: custom:DalianVictoryDevelopmentCoLtdMember |
AsOf2017-09-04_custom_AssignmentOfAllOutstandingSharesAndAllDebtRightsAgreementMember_custom_VictoryCommercialInvestmentLtdMember_custom_SinoPrideDevelopmentLimitedMember_custom_HKDCurrencyMember |
2017-09-04 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:AssignmentOfAllOutstandingSharesAndAllDebtRightsAgreementMember us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:VictoryCommercialInvestmentLtdMember dei:LegalEntityAxis: custom:SinoPrideDevelopmentLimitedMember us-gaap:AwardTypeAxis: custom:HKDCurrencyMember |
AsOf2018-12-31_custom_ShareholderMember_custom_SinoPrideDevelopmentLimitedMember_custom_AssignmentOfAllOutstandingSharesAndAllDebtRightAgreementMember_custom_VictoryCommercialInvestmentLtdMember_custom_HKDCurrencyMember |
2018-12-31 |
0001723083 |
srt:TitleOfIndividualAxis: custom:ShareholderMember dei:LegalEntityAxis: custom:SinoPrideDevelopmentLimitedMember us-gaap:TypeOfArrangementAxis: custom:AssignmentOfAllOutstandingSharesAndAllDebtRightAgreementMember us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:VictoryCommercialInvestmentLtdMember us-gaap:AwardTypeAxis: custom:HKDCurrencyMember |
From2018-01-01to2018-12-31_custom_SinoPrideDevelopmentLimitedMember_custom_RMBCurrencyMember |
2018-01-01 - 2018-12-31 |
0001723083 |
dei:LegalEntityAxis: custom:SinoPrideDevelopmentLimitedMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
From2017-05-17to2017-05-18_custom_UnrelatedIndividualMember_custom_RMBCurrencyMember |
2017-05-17 - 2017-05-18 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:UnrelatedIndividualMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
From2017-05-17to2017-05-18_custom_OneRelatedIndividualMember_custom_RMBCurrencyMember |
2017-05-17 - 2017-05-18 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:OneRelatedIndividualMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
From2017-05-17to2017-05-18_custom_OneIndividualMember_custom_EmployeeOfDalianVictoryDevelopmentCoLtdMember_custom_RMBCurrencyMember |
2017-05-17 - 2017-05-18 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:OneIndividualMember srt:TitleOfIndividualAxis: custom:EmployeeOfDalianVictoryDevelopmentCoLtdMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
From2019-01-01to2019-06-30_us-gaap_SalesRevenueNetMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:ConcentrationRiskByBenchmarkAxis: us-gaap:SalesRevenueNetMember |
From2018-01-01to2018-12-31_custom_InterestAtSevenPointEightySixPercentagePerAnnumPayableSevenEightteenTwoThousandAndTwentySevenMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSevenPointEightySixPercentagePerAnnumPayableSevenEightteenTwoThousandAndTwentySevenMember |
From2019-01-01to2019-06-30_custom_InterestAtSevenPointEightySixPercentagePerAnnumPayableSevenEightteenTwoThousandAndTwentySevenMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSevenPointEightySixPercentagePerAnnumPayableSevenEightteenTwoThousandAndTwentySevenMember |
From2018-01-01to2018-12-31_custom_InterestAtSevenPointZeroEightPercentagePerAnnumPayableSevenNineteenTwoThousandAndTwentyFourMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSevenPointZeroEightPercentagePerAnnumPayableSevenNineteenTwoThousandAndTwentyFourMember |
From2019-01-01to2019-06-30_custom_InterestAtSevenPointZeroEightPercentagePerAnnumPayableSevenNineteenTwoThousandAndTwentyFourMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSevenPointZeroEightPercentagePerAnnumPayableSevenNineteenTwoThousandAndTwentyFourMember |
From2018-01-01to2018-12-31_custom_InterestAtSevenPointZeroFiftyPercentagePerAnnumPayableTwelveTwentyTwoThousandAndEighteenMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSevenPointZeroFiftyPercentagePerAnnumPayableTwelveTwentyTwoThousandAndEighteenMember |
From2019-01-01to2019-06-30_custom_InterestAtSevenPointZeroFiftyPercentagePerAnnumPayableTwelveTwentyTwoThousandAndEighteenMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSevenPointZeroFiftyPercentagePerAnnumPayableTwelveTwentyTwoThousandAndEighteenMember |
From2018-01-01to2018-12-31_custom_InterestAtSixPointZeroFiftyPercentagePerAnnumPayableTwelveTwentyTwoThousandAndEighteenOneMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSixPointZeroFiftyPercentagePerAnnumPayableTwelveTwentyTwoThousandAndEighteenOneMember |
From2019-01-01to2019-06-30_custom_InterestAtSixPointZeroFiftyPercentagePerAnnumPayableTwelveTwentyTwoThousandAndEighteenOneMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSixPointZeroFiftyPercentagePerAnnumPayableTwelveTwentyTwoThousandAndEighteenOneMember |
From2018-01-01to2018-12-31_custom_InterestAtSixPointZeroFiftyPercentagePerAnnumPayableNineTwentySevenTwoThousandAndNineteenMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSixPointZeroFiftyPercentagePerAnnumPayableNineTwentySevenTwoThousandAndNineteenMember |
From2019-01-01to2019-06-30_custom_InterestAtSixPointZeroFiftyPercentagePerAnnumPayableNineTwentySevenTwoThousandAndNineteenMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSixPointZeroFiftyPercentagePerAnnumPayableNineTwentySevenTwoThousandAndNineteenMember |
AsOf2018-06-30_custom_MrAlexBrownMember |
2018-06-30 |
0001723083 |
srt:TitleOfIndividualAxis: custom:MrAlexBrownMember |
AsOf2019-06-30_custom_RMBMember |
2019-06-30 |
0001723083 |
us-gaap:AwardTypeAxis: custom:RMBMember |
AsOf2018-12-31_country_CN_us-gaap_ForeignCountryMember |
2018-12-31 |
0001723083 |
srt:StatementGeographicalAxis: country:CN us-gaap:IncomeTaxAuthorityAxis: us-gaap:ForeignCountryMember |
AsOf2017-12-31_country_CN_us-gaap_ForeignCountryMember |
2017-12-31 |
0001723083 |
srt:StatementGeographicalAxis: country:CN us-gaap:IncomeTaxAuthorityAxis: us-gaap:ForeignCountryMember |
AsOf2019-06-30 |
2019-06-30 |
0001723083 |
|
From2019-01-01to2019-06-30_custom_RentalIncomeMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:ProductOrServiceAxis: custom:RentalIncomeMember |
From2018-01-01to2018-06-30_custom_RentalIncomeMember |
2018-01-01 - 2018-06-30 |
0001723083 |
srt:ProductOrServiceAxis: custom:RentalIncomeMember |
From2019-01-01to2019-06-30_custom_ManagementFeeIncomeMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:ProductOrServiceAxis: custom:ManagementFeeIncomeMember |
From2018-01-01to2018-06-30_custom_ManagementFeeIncomeMember |
2018-01-01 - 2018-06-30 |
0001723083 |
srt:ProductOrServiceAxis: custom:ManagementFeeIncomeMember |
From2019-01-01to2019-06-30_custom_OtherIncomesMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:ProductOrServiceAxis: custom:OtherIncomesMember |
From2018-01-01to2018-06-30_custom_OtherIncomesMember |
2018-01-01 - 2018-06-30 |
0001723083 |
srt:ProductOrServiceAxis: custom:OtherIncomesMember |
From2018-01-01to2018-06-30 |
2018-01-01 - 2018-06-30 |
0001723083 |
|
AsOf2018-06-30 |
2018-06-30 |
0001723083 |
|
From2018-01-01to2018-12-31 |
2018-01-01 - 2018-12-31 |
0001723083 |
|
From2019-01-01to2019-06-30_custom_GroupDPropertiesMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:RealEstatePropertiesAxis: custom:GroupDPropertiesMember |
AsOf2019-06-30_custom_DalianVictoryPlazaDevelopmentCoLtdMember643976375 |
2019-06-30 |
0001723083 |
srt:OwnershipAxis: custom:DalianVictoryPlazaDevelopmentCoLtdMember |
AsOf2019-06-30_us-gaap_AccountingStandardsUpdate201602Member |
2019-06-30 |
0001723083 |
us-gaap:AdjustmentsForNewAccountingPronouncementsAxis: us-gaap:AccountingStandardsUpdate201602Member |
AsOf2019-06-30_custom_PeriodendMember_custom_RMBMember |
2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:PeriodendMember us-gaap:AwardTypeAxis: custom:RMBMember |
AsOf2018-06-30_custom_PeriodendMember_custom_RMBMember |
2018-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:PeriodendMember us-gaap:AwardTypeAxis: custom:RMBMember |
AsOf2019-06-30_custom_AnnualAverageMember_custom_RMBMember |
2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:AnnualAverageMember us-gaap:AwardTypeAxis: custom:RMBMember |
AsOf2018-06-30_custom_AnnualAverageMember_custom_RMBMember |
2018-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:AnnualAverageMember us-gaap:AwardTypeAxis: custom:RMBMember |
AsOf2019-06-30_custom_YTDAverageMember_custom_RMBMember |
2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:YTDAverageMember us-gaap:AwardTypeAxis: custom:RMBMember |
AsOf2018-06-30_custom_YTDAverageMember_custom_RMBMember |
2018-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:YTDAverageMember us-gaap:AwardTypeAxis: custom:RMBMember |
AsOf2018-12-31_custom_YTDAverageMember_custom_RMBMember |
2018-12-31 |
0001723083 |
srt:StatementScenarioAxis: custom:YTDAverageMember us-gaap:AwardTypeAxis: custom:RMBMember |
AsOf2019-06-30_custom_PeriodendMember_custom_HKMember |
2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:PeriodendMember us-gaap:AwardTypeAxis: custom:HKMember |
AsOf2018-06-30_custom_PeriodendMember_custom_HKMember |
2018-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:PeriodendMember us-gaap:AwardTypeAxis: custom:HKMember |
AsOf2019-06-30_custom_AnnualAverageMember_custom_HKMember |
2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:AnnualAverageMember us-gaap:AwardTypeAxis: custom:HKMember |
AsOf2018-06-30_custom_AnnualAverageMember_custom_HKMember |
2018-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:AnnualAverageMember us-gaap:AwardTypeAxis: custom:HKMember |
AsOf2019-06-30_custom_YTDAverageMember_custom_HKMember |
2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:YTDAverageMember us-gaap:AwardTypeAxis: custom:HKMember |
AsOf2018-12-31_custom_YTDAverageMember_custom_HKMember |
2018-12-31 |
0001723083 |
srt:StatementScenarioAxis: custom:YTDAverageMember us-gaap:AwardTypeAxis: custom:HKMember |
AsOf2018-06-30_custom_YTDAverageMember_custom_HKMember |
2018-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:YTDAverageMember us-gaap:AwardTypeAxis: custom:HKMember |
AsOf2018-12-31_custom_InterestAtFivePointFourtySixPercentagePerAnnumPayableSevenEightteenTwoThousandAndTwentySevenMember |
2018-12-31 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtFivePointFourtySixPercentagePerAnnumPayableSevenEightteenTwoThousandAndTwentySevenMember |
AsOf2018-12-31_custom_InterestAtSixPointFiftyPercentagePerAnnumPayableThreeElevenTwoThousandTwentyMember |
2018-12-31 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSixPointFiftyPercentagePerAnnumPayableThreeElevenTwoThousandTwentyMember |
AsOf2019-06-30_custom_InterestAtSixPointFiftyPercentagePerAnnumPayableThreeElevenTwoThousandTwentyMember |
2019-06-30 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSixPointFiftyPercentagePerAnnumPayableThreeElevenTwoThousandTwentyMember |
AsOf2019-06-30_custom_InterestAtSixPointZeroFiftyPercentagePerAnnumPayableThreeElevenTwoThousandAndTwentyMember |
2019-06-30 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSixPointZeroFiftyPercentagePerAnnumPayableThreeElevenTwoThousandAndTwentyMember |
AsOf2018-12-31_custom_InterestAtSixPointZeroFiftyPercentagePerAnnumPayableThreeElevenTwoThousandAndTwentyMember |
2018-12-31 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSixPointZeroFiftyPercentagePerAnnumPayableThreeElevenTwoThousandAndTwentyMember |
From2018-01-01to2018-12-31_custom_InterestAtSixPointZeroFiftyPercentagePerAnnumPayableThreeElevenTwoThousandAndTwentyMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSixPointZeroFiftyPercentagePerAnnumPayableThreeElevenTwoThousandAndTwentyMember |
From2019-01-01to2019-06-30_custom_InterestAtSixPointZeroFiftyPercentagePerAnnumPayableThreeElevenTwoThousandAndTwentyMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSixPointZeroFiftyPercentagePerAnnumPayableThreeElevenTwoThousandAndTwentyMember |
AsOf2017-12-29_custom_StrategyCooperationAgreementMember |
2017-12-29 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:StrategyCooperationAgreementMember |
From2019-01-01to2019-06-30_custom_FutureExpirationYearOneMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:FutureExpirationYearOneMember |
From2019-01-01to2019-06-30_custom_FutureExpirationYearTwoMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:FutureExpirationYearTwoMember |
From2019-01-01to2019-06-30_custom_FutureExpirationYearThreeMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:FutureExpirationYearThreeMember |
From2019-01-01to2019-06-30_custom_FutureExpirationYearFourMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:FutureExpirationYearFourMember |
From2019-01-01to2019-06-30_custom_FutureExpirationYearFiveMember |
2019-01-01 - 2019-06-30 |
0001723083 |
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2019-01-01 - 2019-06-30 |
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us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SinoPrideDevelopmentLimitedMember |
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2018-10-01 - 2018-12-31 |
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2019-06-30 |
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AsOf2019-06-30_custom_RelatedIndividualMember |
2019-06-30 |
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us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:RelatedIndividualMember |
AsOf2019-06-30_custom_DalianVictoryDevelopmentCoLtdMember_custom_InfrastructureConstructionMember |
2019-06-30 |
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us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DalianVictoryDevelopmentCoLtdMember us-gaap:PropertyPlantAndEquipmentByTypeAxis: custom:InfrastructureConstructionMember |
AsOf2019-06-30_custom_DalianVictoryDevelopmentCoLtdMember_custom_OtherPayableMember |
2019-06-30 |
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us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DalianVictoryDevelopmentCoLtdMember srt:TitleOfIndividualAxis: custom:OtherPayableMember |
AsOf2019-06-30_custom_DalianVictoryDevelopmentCoLtd1Member |
2019-06-30 |
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us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DalianVictoryDevelopmentCoLtd1Member |
AsOf2019-06-30_custom_DalianVictoryDevelopmentCoLtdMember_us-gaap_ForeignExchangeMember |
2019-06-30 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:DalianVictoryDevelopmentCoLtdMember us-gaap:TradingActivityByTypeAxis: us-gaap:ForeignExchangeMember |
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2017-12-31 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SinoPrideDevelopmentLimitedMember |
From2019-01-01to2019-06-30_country_CN |
2019-01-01 - 2019-06-30 |
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srt:StatementGeographicalAxis: country:CN |
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2018-01-01 - 2018-06-30 |
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srt:StatementGeographicalAxis: country:CN |
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2019-01-01 - 2019-06-30 |
0001723083 |
srt:StatementGeographicalAxis: country:HK |
From2018-01-01to2018-06-30_country_HK |
2018-01-01 - 2018-06-30 |
0001723083 |
srt:StatementGeographicalAxis: country:HK |
AsOf2019-03-28_custom_SubscriptionAgreementMember_custom_ThirtyIndividualInvestorsMember |
2019-03-28 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:SubscriptionAgreementMember us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:ThirtyIndividualInvestorsMember |
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2019-03-28 |
0001723083 |
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2019-03-27 - 2019-03-28 |
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2019-04-15 |
0001723083 |
|
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2019-04-15 |
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dei:LegalEntityAxis: custom:DalianVictoryBusinessManagementCoLtdMember |
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2018-01-01 - 2018-06-30 |
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dei:LegalEntityAxis: custom:DalianVictoryPlazaDevelopmentCoLtdAndDalianVictoryBusinessManagementCoLtdMember |
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2019-06-30 |
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srt:OwnershipAxis: custom:DalianVictoryBusinessManagementCoLtdMember |
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2019-01-01 - 2019-06-30 |
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dei:LegalEntityAxis: custom:SinoPrideDevelopmentLimitedMember |
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2019-06-30 |
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dei:LegalEntityAxis: custom:SinoPrideDevelopmentLimitedMember |
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2019-01-01 - 2019-06-30 |
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dei:LegalEntityAxis: custom:SinoPrideDevelopmentLimitedMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
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2019-01-01 - 2019-06-30 |
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us-gaap:TypeOfArrangementAxis: custom:NewLawsuitWithNewClaimsMember |
AsOf2018-06-30_custom_ShareholderMember |
2018-06-30 |
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srt:TitleOfIndividualAxis: custom:ShareholderMember |
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2017-09-04 |
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2017-09-04 |
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2019-01-01 - 2019-06-30 |
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srt:TitleOfIndividualAxis: custom:ChairmanAndChiefExecutiveOfficerMember |
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2017-05-17 - 2017-05-18 |
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2017-05-17 - 2017-05-18 |
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2017-05-17 - 2017-05-18 |
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2017-05-17 - 2017-05-18 |
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AsOf2019-06-30_custom_RMBCurrencyMember |
2019-06-30 |
0001723083 |
us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
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2018-01-01 - 2018-06-30 |
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2019-01-01 - 2019-06-30 |
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2018-06-30 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:CommonStockMember |
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2019-06-30 |
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2018-01-01 - 2018-06-30 |
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2019-01-01 - 2019-06-30 |
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2018-06-30 |
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AsOf2019-06-30_us-gaap_AdditionalPaidInCapitalMember |
2019-06-30 |
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2018-01-01 - 2018-06-30 |
0001723083 |
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2019-01-01 - 2019-06-30 |
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2018-06-30 |
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2019-06-30 |
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2018-01-01 - 2018-06-30 |
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2019-01-01 - 2019-06-30 |
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us-gaap:StatementEquityComponentsAxis: us-gaap:AccumulatedOtherComprehensiveIncomeMember |
AsOf2018-06-30_us-gaap_AccumulatedOtherComprehensiveIncomeMember |
2018-06-30 |
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us-gaap:StatementEquityComponentsAxis: us-gaap:AccumulatedOtherComprehensiveIncomeMember |
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2019-06-30 |
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us-gaap:StatementEquityComponentsAxis: us-gaap:AccumulatedOtherComprehensiveIncomeMember |
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2018-01-01 - 2018-06-30 |
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2019-01-01 - 2019-06-30 |
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2018-06-30 |
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AsOf2019-06-30_us-gaap_NoncontrollingInterestMember |
2019-06-30 |
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2018-06-28 |
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|
AsOf2018-06-28_custom_FinancingAgreementsMember |
2018-06-28 |
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2018-06-28 |
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AsOf2018-06-28_custom_LoanAgreementsMember |
2018-06-28 |
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AsOf2018-06-28_custom_RMBFiftyMLoanMember_custom_RMBCurrencyMember_custom_ZhongKeChuangZhanInvestmentLtdMember |
2018-06-28 |
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2018-06-28 |
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2018-06-27 - 2018-06-28 |
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2018-07-01 - 2018-09-30 |
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2019-01-01 - 2019-06-30 |
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2019-01-01 - 2019-06-30 |
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2019-01-01 - 2019-06-30 |
0001723083 |
dei:LegalEntityAxis: custom:ZhongKeChuangZhanInvestmentLtdMember |
AsOf2019-08-14 |
2019-08-14 |
0001723083 |
|
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2019-04-01 - 2019-06-30 |
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2018-04-01 - 2018-06-30 |
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From2019-04-01to2019-06-30 |
2019-04-01 - 2019-06-30 |
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|
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2018-04-01 - 2018-06-30 |
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|
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2019-04-01 - 2019-06-30 |
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2018-04-01 - 2018-06-30 |
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From2019-04-01to2019-06-30_custom_OtherIncomesMember |
2019-04-01 - 2019-06-30 |
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From2018-04-01to2018-06-30_custom_OtherIncomesMember |
2018-04-01 - 2018-06-30 |
0001723083 |
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2018-01-01 - 2018-03-31 |
0001723083 |
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2018-04-01 - 2018-06-30 |
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2019-01-01 - 2019-03-31 |
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2019-04-01 - 2019-06-30 |
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2018-03-31 |
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AsOf2019-03-31_us-gaap_CommonStockMember |
2019-03-31 |
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2018-01-01 - 2018-03-31 |
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2018-04-01 - 2018-06-30 |
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2019-01-01 - 2019-03-31 |
0001723083 |
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2019-04-01 - 2019-06-30 |
0001723083 |
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AsOf2018-03-31_us-gaap_AdditionalPaidInCapitalMember |
2018-03-31 |
0001723083 |
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AsOf2019-03-31_us-gaap_AdditionalPaidInCapitalMember |
2019-03-31 |
0001723083 |
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2018-01-01 - 2018-03-31 |
0001723083 |
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2018-04-01 - 2018-06-30 |
0001723083 |
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2019-01-01 - 2019-03-31 |
0001723083 |
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From2019-04-01to2019-06-30_us-gaap_RetainedEarningsMember |
2019-04-01 - 2019-06-30 |
0001723083 |
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AsOf2018-03-31_us-gaap_RetainedEarningsMember |
2018-03-31 |
0001723083 |
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AsOf2019-03-31_us-gaap_RetainedEarningsMember |
2019-03-31 |
0001723083 |
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2018-01-01 - 2018-03-31 |
0001723083 |
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2018-04-01 - 2018-06-30 |
0001723083 |
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2019-01-01 - 2019-03-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:AccumulatedOtherComprehensiveIncomeMember |
From2019-04-01to2019-06-30_us-gaap_AccumulatedOtherComprehensiveIncomeMember |
2019-04-01 - 2019-06-30 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:AccumulatedOtherComprehensiveIncomeMember |
AsOf2018-03-31_us-gaap_AccumulatedOtherComprehensiveIncomeMember |
2018-03-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:AccumulatedOtherComprehensiveIncomeMember |
AsOf2019-03-31_us-gaap_AccumulatedOtherComprehensiveIncomeMember |
2019-03-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:AccumulatedOtherComprehensiveIncomeMember |
From2018-01-01to2018-03-31_us-gaap_NoncontrollingInterestMember |
2018-01-01 - 2018-03-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:NoncontrollingInterestMember |
From2018-04-01to2018-06-30_us-gaap_NoncontrollingInterestMember |
2018-04-01 - 2018-06-30 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:NoncontrollingInterestMember |
From2019-01-01to2019-03-31_us-gaap_NoncontrollingInterestMember |
2019-01-01 - 2019-03-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:NoncontrollingInterestMember |
From2019-04-01to2019-06-30_us-gaap_NoncontrollingInterestMember |
2019-04-01 - 2019-06-30 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:NoncontrollingInterestMember |
AsOf2018-03-31_us-gaap_NoncontrollingInterestMember |
2018-03-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:NoncontrollingInterestMember |
AsOf2019-03-31_us-gaap_NoncontrollingInterestMember |
2019-03-31 |
0001723083 |
us-gaap:StatementEquityComponentsAxis: us-gaap:NoncontrollingInterestMember |
From2018-01-01to2018-03-31 |
2018-01-01 - 2018-03-31 |
0001723083 |
|
From2019-01-01to2019-03-31 |
2019-01-01 - 2019-03-31 |
0001723083 |
|
AsOf2018-03-31 |
2018-03-31 |
0001723083 |
|
AsOf2019-03-31 |
2019-03-31 |
0001723083 |
|
AsOf2019-06-30_custom_SinoPrideDevelopmentLimitedMember5237578 |
2019-06-30 |
0001723083 |
us-gaap:BusinessAcquisitionAxis: custom:SinoPrideDevelopmentLimitedMember |
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2019-04-01 - 2019-06-30 |
0001723083 |
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From2018-04-01to2018-06-30_custom_PeriodendMember_custom_RMBMember |
2018-04-01 - 2018-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:PeriodendMember us-gaap:AwardTypeAxis: custom:RMBMember |
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2019-04-01 - 2019-06-30 |
0001723083 |
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From2018-04-01to2018-06-30_custom_AnnualAverageMember_custom_RMBMember |
2018-04-01 - 2018-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:AnnualAverageMember us-gaap:AwardTypeAxis: custom:RMBMember |
From2019-04-01to2019-06-30_custom_PeriodendMember_custom_HKMember |
2019-04-01 - 2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:PeriodendMember us-gaap:AwardTypeAxis: custom:HKMember |
From2018-04-01to2018-06-30_custom_PeriodendMember_custom_HKMember |
2018-04-01 - 2018-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:PeriodendMember us-gaap:AwardTypeAxis: custom:HKMember |
From2019-04-01to2019-06-30_custom_AnnualAverageMember_custom_HKMember |
2019-04-01 - 2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:AnnualAverageMember us-gaap:AwardTypeAxis: custom:HKMember |
From2018-04-01to2018-06-30_custom_AnnualAverageMember_custom_HKMember |
2018-04-01 - 2018-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:AnnualAverageMember us-gaap:AwardTypeAxis: custom:HKMember |
From2019-01-01to2019-06-30_custom_PeriodendMember_custom_RMBMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:PeriodendMember us-gaap:AwardTypeAxis: custom:RMBMember |
From2018-01-01to2018-06-30_custom_PeriodendMember_custom_RMBMember |
2018-01-01 - 2018-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:PeriodendMember us-gaap:AwardTypeAxis: custom:RMBMember |
From2019-01-01to2019-06-30_custom_AnnualAverageMember_custom_RMBMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:AnnualAverageMember us-gaap:AwardTypeAxis: custom:RMBMember |
From2018-01-01to2018-06-30_custom_AnnualAverageMember_custom_RMBMember |
2018-01-01 - 2018-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:AnnualAverageMember us-gaap:AwardTypeAxis: custom:RMBMember |
From2019-01-01to2019-06-30_custom_PeriodendMember_custom_HKMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:PeriodendMember us-gaap:AwardTypeAxis: custom:HKMember |
From2018-01-01to2018-06-30_custom_PeriodendMember_custom_HKMember |
2018-01-01 - 2018-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:PeriodendMember us-gaap:AwardTypeAxis: custom:HKMember |
From2019-01-01to2019-06-30_custom_AnnualAverageMember_custom_HKMember |
2019-01-01 - 2019-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:AnnualAverageMember us-gaap:AwardTypeAxis: custom:HKMember |
From2018-01-01to2018-06-30_custom_AnnualAverageMember_custom_HKMember |
2018-01-01 - 2018-06-30 |
0001723083 |
srt:StatementScenarioAxis: custom:AnnualAverageMember us-gaap:AwardTypeAxis: custom:HKMember |
From2019-01-01to2019-06-30_custom_ManagementSoftwareMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis: custom:ManagementSoftwareMember |
AsOf2019-06-30_custom_ManagementSoftwareMember |
2019-06-30 |
0001723083 |
us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis: custom:ManagementSoftwareMember |
AsOf2018-12-31_custom_ManagementSoftwareMember17856984 |
2018-12-31 |
0001723083 |
us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis: custom:ManagementSoftwareMember |
From2018-10-01to2019-06-30_custom_RMBFiftyMLoanMember_custom_ZhongKeChuangZhanInvestmentLtdMember_custom_OctoberOnetTwoThousandEighteenToJuneThirtyTwoThousandNineteenMember |
2018-10-01 - 2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBFiftyMLoanMember dei:LegalEntityAxis: custom:ZhongKeChuangZhanInvestmentLtdMember us-gaap:AwardDateAxis: custom:OctoberOnetTwoThousandEighteenToJuneThirtyTwoThousandNineteenMember |
From2019-04-01to2019-06-30_custom_ThreeHundredAndNinetyMRMBLoanMember |
2019-04-01 - 2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:ThreeHundredAndNinetyMRMBLoanMember |
From2018-04-01to2018-06-30_custom_ThreeHundredAndNinetyMRMBLoanMember |
2018-04-01 - 2018-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:ThreeHundredAndNinetyMRMBLoanMember |
From2019-01-01to2019-06-30_custom_ThreeHundredAndNinetyMRMBLoanMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:ThreeHundredAndNinetyMRMBLoanMember |
From2018-01-01to2018-06-30_custom_ThreeHundredAndNinetyMRMBLoanMember |
2018-01-01 - 2018-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:ThreeHundredAndNinetyMRMBLoanMember |
From2019-04-01to2019-06-30_custom_FiftyMRMBLoanMember |
2019-04-01 - 2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:FiftyMRMBLoanMember |
From2018-04-01to2018-06-30_custom_FiftyMRMBLoanMember |
2018-04-01 - 2018-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:FiftyMRMBLoanMember |
From2019-01-01to2019-06-30_custom_FiftyMRMBLoanMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:FiftyMRMBLoanMember |
From2018-01-01to2018-06-30_custom_FiftyMRMBLoanMember |
2018-01-01 - 2018-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:FiftyMRMBLoanMember |
From2018-09-26to2018-09-27_custom_HarbinBankMember |
2018-09-26 - 2018-09-27 |
0001723083 |
dei:LegalEntityAxis: custom:HarbinBankMember |
From2018-09-26to2018-09-27_custom_HarbinBankMember_custom_RMBCurrencyMember |
2018-09-26 - 2018-09-27 |
0001723083 |
dei:LegalEntityAxis: custom:HarbinBankMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
AsOf2018-09-27_custom_HarbinBankMember |
2018-09-27 |
0001723083 |
dei:LegalEntityAxis: custom:HarbinBankMember |
From2019-03-25to2019-03-26_custom_HarbinBankMember |
2019-03-25 - 2019-03-26 |
0001723083 |
dei:LegalEntityAxis: custom:HarbinBankMember |
From2019-03-25to2019-03-26_custom_HarbinBankMember_custom_RMBCurrencyMember |
2019-03-25 - 2019-03-26 |
0001723083 |
dei:LegalEntityAxis: custom:HarbinBankMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
AsOf2019-03-26_custom_HarbinBankMember |
2019-03-26 |
0001723083 |
dei:LegalEntityAxis: custom:HarbinBankMember |
AsOf2019-06-30_custom_InterestAtSixPointZeroFiftyPercentagePerAnnumPayableNineTwelveTwoThousandAndNineteenMember |
2019-06-30 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSixPointZeroFiftyPercentagePerAnnumPayableNineTwelveTwoThousandAndNineteenMember |
AsOf2018-12-31_custom_InterestAtSixPointZeroFiftyPercentagePerAnnumPayableNineTwelveTwoThousandAndNineteenMember |
2018-12-31 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSixPointZeroFiftyPercentagePerAnnumPayableNineTwelveTwoThousandAndNineteenMember |
From2018-01-01to2018-12-31_custom_InterestAtSixPointZeroFiftyPercentagePerAnnumPayableNineTwelveTwoThousandAndNineteenMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtSixPointZeroFiftyPercentagePerAnnumPayableNineTwelveTwoThousandAndNineteenMember |
AsOf2019-06-30_custom_BuybackFinancingAgreementsMember |
2019-06-30 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:BuybackFinancingAgreementsMember |
AsOf2019-06-30_custom_SMLFinancingAgreementsMember |
2019-06-30 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:SMLFinancingAgreementsMember |
AsOf2018-12-31_custom_PurchaseBackFinancingAgreementsMember |
2018-12-31 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:PurchaseBackFinancingAgreementsMember |
AsOf2018-12-31_custom_SMLFinancingAgreementsMember |
2018-12-31 |
0001723083 |
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis: custom:SMLFinancingAgreementsMember |
From2019-04-01to2019-06-30_custom_DalianVictoryDevelopmentCoLtdMember |
2019-04-01 - 2019-06-30 |
0001723083 |
srt:OwnershipAxis: custom:DalianVictoryDevelopmentCoLtdMember |
From2018-04-01to2018-06-30_custom_DalianVictoryDevelopmentCoLtdMember |
2018-04-01 - 2018-06-30 |
0001723083 |
srt:OwnershipAxis: custom:DalianVictoryDevelopmentCoLtdMember |
From2019-04-01to2019-06-30_custom_SinoPrideDevelopmentLimitedMember |
2019-04-01 - 2019-06-30 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SinoPrideDevelopmentLimitedMember |
From2018-04-01to2018-06-30_custom_SinoPrideDevelopmentLimitedMember |
2018-04-01 - 2018-06-30 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SinoPrideDevelopmentLimitedMember |
From2018-01-01to2018-06-30_custom_SinoPrideDevelopmentLimitedMember |
2018-01-01 - 2018-06-30 |
0001723083 |
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis: custom:SinoPrideDevelopmentLimitedMember |
From2019-07-01to2019-08-08_us-gaap_SubsequentEventMember_custom_NewLawsuitWithNewClaimsMember |
2019-07-01 - 2019-08-08 |
0001723083 |
us-gaap:SubsequentEventTypeAxis: us-gaap:SubsequentEventMember us-gaap:TypeOfArrangementAxis: custom:NewLawsuitWithNewClaimsMember |
From2019-08-05to2019-08-06_us-gaap_SubsequentEventMember_custom_DalianCityChinaMember |
2019-08-05 - 2019-08-06 |
0001723083 |
us-gaap:SubsequentEventTypeAxis: us-gaap:SubsequentEventMember srt:StatementGeographicalAxis: custom:DalianCityChinaMember |
From2019-08-05to2019-08-06_us-gaap_SubsequentEventMember_custom_DalianCityChinaMember_custom_RMBCurrencyMember |
2019-08-05 - 2019-08-06 |
0001723083 |
us-gaap:SubsequentEventTypeAxis: us-gaap:SubsequentEventMember srt:StatementGeographicalAxis: custom:DalianCityChinaMember us-gaap:AwardTypeAxis: custom:RMBCurrencyMember |
From2019-08-05to2019-08-06_us-gaap_SubsequentEventMember_custom_PropertyBuyBackRelatedIssuesMember |
2019-08-05 - 2019-08-06 |
0001723083 |
us-gaap:SubsequentEventTypeAxis: us-gaap:SubsequentEventMember srt:LitigationCaseAxis: custom:PropertyBuyBackRelatedIssuesMember |
From2019-08-05to2019-08-06_us-gaap_SubsequentEventMember_custom_LeasesAndLeasesBackRelatedIssuesMember |
2019-08-05 - 2019-08-06 |
0001723083 |
us-gaap:SubsequentEventTypeAxis: us-gaap:SubsequentEventMember srt:LitigationCaseAxis: custom:LeasesAndLeasesBackRelatedIssuesMember |
From2019-08-05to2019-08-06_us-gaap_SubsequentEventMember_custom_OtherIssuesMember |
2019-08-05 - 2019-08-06 |
0001723083 |
us-gaap:SubsequentEventTypeAxis: us-gaap:SubsequentEventMember srt:LitigationCaseAxis: custom:OtherIssuesMember |
From2019-08-05to2019-08-06_us-gaap_SubsequentEventMember |
2019-08-05 - 2019-08-06 |
0001723083 |
us-gaap:SubsequentEventTypeAxis: us-gaap:SubsequentEventMember |
From2019-08-05to2019-08-06_us-gaap_SubsequentEventMember_custom_LeasesPaymentRelatedIssuesMember |
2019-08-05 - 2019-08-06 |
0001723083 |
us-gaap:SubsequentEventTypeAxis: us-gaap:SubsequentEventMember srt:LitigationCaseAxis: custom:LeasesPaymentRelatedIssuesMember |
From2019-01-01to2019-06-30_custom_OperatingLeaseAgreementMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:OperatingLeaseAgreementMember |
AsOf2019-06-30_custom_RMBFiftyMLoanMember_custom_ZhongKeChuangZhanInvestmentLtdMember |
2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBFiftyMLoanMember dei:LegalEntityAxis: custom:ZhongKeChuangZhanInvestmentLtdMember |
AsOf2018-06-30_custom_OperatingLeaseMember_custom_OfficeRentMember |
2018-06-30 |
0001723083 |
us-gaap:LeaseArrangementTypeAxis: custom:OperatingLeaseMember us-gaap:PropertySubjectToOrAvailableForOperatingLeaseAxis: custom:OfficeRentMember |
From2019-04-14to2019-04-15 |
2019-04-14 - 2019-04-15 |
0001723083 |
|
From2018-01-01to2018-12-31_custom_InterestAtFivePointFourtySixPercentagePerAnnumPayableSevenEightteenTwoThousandAndTwentySevenMember |
2018-01-01 - 2018-12-31 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtFivePointFourtySixPercentagePerAnnumPayableSevenEightteenTwoThousandAndTwentySevenMember |
From2019-01-01to2019-06-30_custom_InterestAtFivePointFourtySixPercentagePerAnnumPayableSevenEightteenTwoThousandAndTwentySevenMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:DebtInstrumentAxis: custom:InterestAtFivePointFourtySixPercentagePerAnnumPayableSevenEightteenTwoThousandAndTwentySevenMember |
From2019-01-01to2019-03-31_custom_RMBThreeHundredAndNinetyMLoanMember |
2019-01-01 - 2019-03-31 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBThreeHundredAndNinetyMLoanMember |
From2019-01-01to2019-06-30_custom_RMBFiftyMLoanMember |
2019-01-01 - 2019-06-30 |
0001723083 |
us-gaap:TypeOfArrangementAxis: custom:RMBFiftyMLoanMember |
|
(End Contexts) |
|
Elements |
|
|
|
|
|
|
|
|
|
Element |
Data Type |
Period Type |
Balance Type |
Custom |
AccountingPoliciesAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
CommitmentsAndContingenciesDisclosureAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
DebtDisclosureAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
GoodwillAndIntangibleAssetsDisclosureAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
IncomeTaxDisclosureAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
NoncontrollingInterestAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
OtherLiabilitiesDisclosureAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
PayablesAndAccrualsAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
PropertyPlantAndEquipmentAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
RelatedPartyTransactionsAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
RisksAndUncertaintiesAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
SubsequentEventsAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
country:CN |
nonnum:domainItemType |
| Duration |
| |
| |
|
|
|
country:HK |
nonnum:domainItemType |
| Duration |
| |
| |
|
|
|
currency:AllCurrenciesDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
ISO 4217 currency designators. |
|
currency:HKD |
nonnum:domainItemType |
| Duration |
| |
| |
|
|
|
custom:AccruedInterest |
xbrli:monetaryItemType |
| Duration |
| Credit |
| Yes |
|
Accrued interest. |
|
custom:AccruedInterestPayable |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Accrued interest payable. |
|
custom:AccruedLegalLitigationCharges |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Accrued extra litigation charges. |
|
custom:AccumulatedDepreciationDepletionAndAmortizationRighToUseAssets |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Amount of accumulated depreciation, depletion and amortization for right to use assets. |
|
custom:AdjustmentsToAdditionalPaidInCapitalSubscriptionreceivable |
xbrli:monetaryItemType |
| Duration |
| Credit |
| Yes |
|
Subscription receivable. |
|
custom:AdjustmentsToAdditionalPaidInCapitalToSubscriptionReceivablePayments |
xbrli:monetaryItemType |
| Duration |
| Credit |
| Yes |
|
Received payments to subscription receivable. |
|
custom:AdvancesPayableToRelatedParty |
xbrli:monetaryItemType |
| Instant |
| Debit |
| Yes |
|
Advances payable to related party. |
|
custom:AlexBrownMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Alex Brown [Member] |
|
custom:AmortizationOfFinancingLeases |
xbrli:monetaryItemType |
| Duration |
| Debit |
| Yes |
|
Amortization of financing leases. |
|
custom:AnnualAverageMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Annual Average [Member] |
|
custom:AreaOfAssetInSquareFeet |
num:areaItemType |
| Duration |
| |
| Yes |
|
Area of asset in square feet. |
|
custom:AreaOfAssetInSquareMeters |
num:areaItemType |
| Duration |
| |
| Yes |
|
Area of asset in square meters. |
|
custom:AreaOfSquareFeet |
num:areaItemType |
| Duration |
| |
| Yes |
|
Area of Square Feet. |
|
custom:AssignmentOfAllOutstandingSharesAndAllDebtRightAgreementMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Assignment of All Outstanding Shares and All Debt Right Agreement [Member] |
|
custom:AssignmentOfAllOutstandingSharesAndAllDebtRightsAgreementMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Assignment of All Outstanding Shares and All Debt Rights Agreement [Member] |
|
custom:AssignmentOfCommonStockAndDebtRightsMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Assignment of Common Stock and Debt Rights [Member] |
|
custom:AssignmentOfCommonStocksAndDebtRightsMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Assignment of Common Stocks and Debt Rights [Member] |
|
custom:AutoMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Auto [Member] |
|
custom:BankLoanInterestPayable |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Bank loan interest payable. |
|
custom:BankLoanRepaymentTermAndDue |
xbrli:durationItemType |
| Duration |
| |
| Yes |
|
Bank loan term and due. |
|
custom:BusinessTaxes |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Business taxes. |
|
custom:BuyBackFinancingAgreementsGroupBPropertiesMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Buy Back Financing Agreements - Group B Properties [Member] |
|
custom:BuyBackOfPayable |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Buy-back of payable. |
|
custom:BuyBackPayableMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Buy-back Payable [Member] |
|
custom:BuybackFinancingAgreementsMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Buy-back Financing Agreements [Member] |
|
custom:BuybackPayable |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Buy-back payable. |
|
custom:BuybackPrice |
xbrli:monetaryItemType |
| Duration |
| Debit |
| Yes |
|
Buy-Back Price. |
|
custom:BuybackRelatedCasesIncludingHistoricalBuybackRemainingBalance |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Buy-back related cases: including historical buy-back remaining balance. |
|
custom:CashPaidAbstract |
xbrli:stringItemType |
| Duration |
| |
| Yes |
|
Cash paid [Abstract] |
|
custom:ChairmanAndChiefExecutiveOfficerMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Chairman and Chief Executive Officer [Member] |
|
custom:CostOfRentalProperty |
xbrli:monetaryItemType |
| Instant |
| Debit |
| Yes |
|
Cost of rental property. |
|
custom:DVDCMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
DVDC [Member] |
|
custom:DalianCityChinaMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Dalian City, China [Member] |
|
custom:DalianVictoryBusinessManagementCoLtdMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Dalian Victory Business Management Co Ltd [Member] |
|
custom:DalianVictoryDevelopmentCoLtd1Member |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
DVDC [Member] |
|
custom:DalianVictoryDevelopmentCoLtdMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
DVDC [Member] |
|
custom:DalianVictoryPlazaDevelopmentCoLtdAndDalianVictoryBusinessManagementCoLtdMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
DVPD and DVBM [Member] |
|
custom:DalianVictoryPlazaDevelopmentCoLtdDalianVictoryBusinessManagementCoLtdSinoPrideDevelopmentLimitedMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
DVPD, DVBM and Sino Pride[Member] |
|
custom:DalianVictoryPlazaDevelopmentCoLtdMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Dalian Victory Plaza Development Co Ltd [Member] |
|
custom:DalianYiwenNewMaterialsTechnologyDevelopmentCoLtdMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Dalian Yiwen New Materials Technology Development Co., Ltd |
|
custom:DescriptionOfProperty |
xbrli:stringItemType |
| Duration |
| |
| Yes |
|
Description of Property. |
|
custom:DescriptionOnFinancialStatementPresentationAssets |
xbrli:stringItemType |
| Duration |
| |
| Yes |
|
Description on financial statement presentation assets. |
|
custom:DescriptionOnFinancialStatementPresentationLiabilities |
xbrli:stringItemType |
| Duration |
| |
| Yes |
|
Description on financial statement presentation liabilities. |
|
custom:DescriptionOnRentalProperties |
xbrli:stringItemType |
| Duration |
| |
| Yes |
|
Description on rental properties. |
|
custom:DescriptionOnVestingPeriod |
xbrli:stringItemType |
| Duration |
| |
| Yes |
|
Description on vesting period |
|
custom:DispositionOfRealEstateAndRealEstateInvestmentsPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| Yes |
|
Disposition of Real Estate and Real Estate Investments [Policy Text Block] |
|
custom:DocumentAndEntityInformationAbstract |
xbrli:stringItemType |
| Duration |
| |
| Yes (Auto) |
|
|
|
custom:DueToRelatedPartiesPrincipalAmount |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Due to related parties, loan principal. |
|
custom:EffectiveAgreementsMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Effective Agreements [Member] |
|
custom:EmployeeOfDalianVictoryDevelopmentCoLtdMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Employee of DVPD [Member] |
|
custom:EquityOwnershipPercentageDescription |
xbrli:stringItemType |
| Duration |
| |
| Yes |
|
Equity ownership percentage description. |
|
custom:EstimatedFinancingPayablesOnLease |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Estimated financing payables on lease. |
|
custom:EstimatedUsefulLifeofRentalProperties |
xbrli:durationItemType |
| Duration |
| |
| Yes |
|
Estimated useful life of rental property. |
|
custom:ExpirationOfLandUseRight |
xbrli:stringItemType |
| Duration |
| |
| Yes |
|
Expiration of land use rights. |
|
custom:ExpiredLeasebackPayable |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Expired leaseback payable. |
|
custom:FiftyMRMBLoanMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
50M RMB Loan [Member] |
|
custom:FinancingAgreementsMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Financing Agreements [Member] |
|
custom:FinancingLeaseBMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Financing Lease B [Member] |
|
custom:FinancingLeaseDMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Financing Lease D [Member] |
|
custom:FinancingLeaseExpense |
xbrli:monetaryItemType |
| Duration |
| Debit |
| Yes |
|
Financing lease expense. |
|
custom:FinancingLeaseMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Financing Lease [Member] |
|
custom:ForeignCurrencyExchangeLossOnLoanAndInterestRepaymentsToRelatedParty |
xbrli:monetaryItemType |
| Duration |
| Debit |
| Yes |
|
Foreign currency exchange loss on loan and interest repayments to related party. |
|
custom:ForeignCurrencyExchangeRateTranslation |
xbrli:pureItemType |
| Duration |
| |
| Yes |
|
Foreign exchange rate used to translate amounts denominated in functional currency to reporting currency. |
|
custom:FutureExpirationYearFiveMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
12/31/2022 [Member] |
|
custom:FutureExpirationYearFourMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
12/31/2021 [Member] |
|
custom:FutureExpirationYearOneMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Past due as of 12/31/2018 [Member] |
|
custom:FutureExpirationYearThreeMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
12/31/2020 [Member] |
|
custom:FutureExpirationYearTwoMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
12/31/2019 [Member] |
|
custom:GainLossOnCollateralOfAssetsOnBehalfOfRelatedParty |
xbrli:monetaryItemType |
| Duration |
| Credit |
| Yes |
|
Profit or gain on collateral. |
|
custom:GroupAMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Group A [Member] |
|
custom:GroupAPropertiesMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Group A Properties [Member] |
|
custom:GroupAPropertyMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Group A Property [Member] |
|
custom:GroupBAndCPropertiesMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Group B and C Properties [Member] |
|
custom:GroupBMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Group B [Member] |
|
custom:GroupBPropertiesMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Group B Properties [Member] |
|
custom:GroupBPropertyMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Group B Property [Member] |
|
custom:GroupCMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Group C [Member] |
|
custom:GroupCPropertiesMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Group C Properties [Member] |
|
custom:GroupDMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Group D [Member] |
|
custom:GroupDPropertiesMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Group D Properties [Member] |
|
custom:GroupDPropertyMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Group D Property [Member] |
|
custom:HKDCurrencyMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
HKD Currency [Member] |
|
custom:HKMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
HK [Member] |
|
custom:HarbinBankMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Harbin Bank [Member] |
|
custom:ImprovementMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Improvement [Member] |
|
custom:ImprovementsMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Improvements [Member] |
|
custom:IncreaseDecreaseInLeaseLiabilitiesPayable |
xbrli:monetaryItemType |
| Duration |
| Debit |
| Yes |
|
Increase decrease in lease liabilities payable. |
|
custom:IncreaseInPropertyFinancingAgreementsPayable |
xbrli:monetaryItemType |
| Duration |
| Debit |
| Yes |
|
Increase in property financing agreements payable. |
|
custom:IncreaseInShorttermLoanInterestReceivable |
xbrli:monetaryItemType |
| Duration |
| Credit |
| Yes |
|
Increase in short-term loan interest receivable. |
|
custom:IndividualIncomeTax |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Individual income taxes. |
|
custom:IndividualOneMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Individual One [Member] |
|
custom:IndividualTwoMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Individual Two [Member] |
|
custom:InfrastructureConstructionMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Infrastructure Construction [Member] |
|
custom:InterestAtFivePointFourtySixPercentagePerAnnumPayableSevenEightteenTwoThousandAndTwentySevenMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Interest at 5.46% per annum, payable 07/18/2027 [Member] |
|
custom:InterestAtSevenPointEightySixPercentagePerAnnumPayableSevenEightteenTwoThousandAndTwentySevenMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Interest at 7.86% per annum, payable 07/18/2027 [Member] |
|
custom:InterestAtSevenPointZeroEightPercentagePerAnnumPayableSevenNineteenTwoThousandAndTwentyFourMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Interest at 7.08% per annum, payable 07/19/2024 [Member] |
|
custom:InterestAtSevenPointZeroFiftyPercentagePerAnnumPayableTwelveTwentyTwoThousandAndEighteenMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Interest at 6.50% per annum, payable 12/20/2018 [Member] |
|
custom:InterestAtSixPointFiftyPercentagePerAnnumPayableThreeElevenTwoThousandTwentyMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Interest at 6.50% per annum, payable 03/11/2020 [Member] |
|
custom:InterestAtSixPointZeroFiftyPercentagePerAnnumPayableNineTwelveTwoThousandAndNineteenMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Interest at 6.50% per annum, payable 09/12/2019 [Member] |
|
custom:InterestAtSixPointZeroFiftyPercentagePerAnnumPayableNineTwentySevenTwoThousandAndNineteenMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Interest at 6.50% per annum, payable 09/27/2019 [Member] |
|
custom:InterestAtSixPointZeroFiftyPercentagePerAnnumPayableThreeElevenTwoThousandAndTwentyMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Interest at 6.50% per annum, payable 03/11/2020 [Member] |
|
custom:InterestAtSixPointZeroFiftyPercentagePerAnnumPayableTwelveTwentyTwoThousandAndEighteenOneMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Interest at 6.50% per annum, payable 12/20/2018 [Member] |
|
custom:IvenInternationalGroupLimitedMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Iven International Group Limited [Member] |
|
custom:LandAndInfrastructureMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Land and Infrastructure [Member] |
|
custom:LeaseUnit1 |
xbrli:integerItemType |
| Instant |
| |
| Yes |
|
Lease Unit1. |
|
custom:LeaseUnits1 |
xbrli:integerItemType |
| Instant |
| |
| Yes |
|
Lease units. |
|
custom:LeaseUnitsThree |
xbrli:integerItemType |
| Instant |
| |
| Yes |
|
Lease Units, 2021. |
|
custom:LeaseUnitsTwo |
xbrli:integerItemType |
| Instant |
| |
| Yes |
|
Lease Units, 2020. |
|
custom:LeasebackLiabilities |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Lease-back liabilities. |
|
custom:LeasebackRelatedCasesIncludingHistoricalLeasebackPayableRemainingBalance |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Lease-back related cases: including historical lease-back payable remaining balance. |
|
custom:LeasesAndLeasesBackRelatedIssuesMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Leases And Leases Back Related Issues [Member] |
|
custom:LeasesPaymentRelatedIssuesMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Leases Payment Related Issues [Member] |
|
custom:LoanAgreementsMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Loan Agreements [Member] |
|
custom:LoanInterestFloatRate |
num:percentItemType |
| Instant |
| |
| Yes |
|
Loan interest float rate. |
|
custom:LoanMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Loan [Member] |
|
custom:LoansPayableDate |
xbrli:dateItemType |
| Duration |
| |
| Yes |
|
Loans payable, date. |
|
custom:LoansPayableInterestRatePercentage |
num:percentItemType |
| Instant |
| |
| Yes |
|
Loans payable interest rate percentage. |
|
custom:ManagementFeeIncomeMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Management Fee Income [Member] |
|
custom:ManagementSoftwareMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Management Software [Member] |
|
custom:MarchTwoTwoThousandAndSeventeenToMarchOneTwoThousandAndNineteenMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
March 2, 2017 to March 1, 2019 [Member] |
|
custom:MaximumInsuredBankDeposit |
xbrli:monetaryItemType |
| Instant |
| Debit |
| Yes |
|
Maximum insured bank deposit. |
|
custom:MinimumLeasePayableSquareFeetThree |
num:areaItemType |
| Instant |
| |
| Yes |
|
Minimum Lease Payable, Square Feet, 2021. |
|
custom:MinimumLeasePayableSquareFeetTwo |
num:areaItemType |
| Instant |
| |
| Yes |
|
Minimum Lease Payable, Square Feet, 2020. |
|
custom:MrAlexBrownMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Mr. Alex Brown [Member] |
|
custom:MrBrownIvenMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Mr. Brown. Iven [Member] |
|
custom:MrsAlexBrownMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Mrs.Alex Brown [Member] |
|
custom:NetUnamortizedSMLFinancingCostMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Net Unamortized SML Financing Cost [Member] |
|
custom:NewLawsuitWithNewClaimsMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
New Lawsuits with New Claims [Member] |
|
custom:NonCashOperatingLeaseExpenses |
xbrli:monetaryItemType |
| Duration |
| Debit |
| Yes |
|
Non cash operating lease expenses. |
|
custom:NoncontrollingInterestPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| Yes |
|
Non-controlling interest [Policy Text Block] |
|
custom:NumberOfIncomeReceivesFromTenants |
xbrli:integerItemType |
| Duration |
| |
| Yes |
|
Number of income receives from tenants. |
|
custom:NumberOfLawsuitsLitigationCases |
xbrli:integerItemType |
| Duration |
| |
| Yes |
|
Number of lawsuits litigation cases. |
|
custom:NumberOfNewLawsuits |
xbrli:integerItemType |
| Duration |
| |
| Yes |
|
Number of new lawsuits. |
|
custom:NumberOfOutstandingLeases |
xbrli:integerItemType |
| Duration |
| |
| Yes |
|
Number of outstanding leases. |
|
custom:NumberOfPropertiesSold |
xbrli:integerItemType |
| Duration |
| |
| Yes |
|
Number of properties sold. |
|
custom:NumberOfRentalPropertiesInUnits |
xbrli:integerItemType |
| Duration |
| |
| Yes |
|
Number of rental properties in units. |
|
custom:NumberOfResolvedCases |
xbrli:integerItemType |
| Duration |
| |
| Yes |
|
Number of resolved cases. |
|
custom:NumberOfResolvedCasesForCurrentPeriod |
xbrli:integerItemType |
| Duration |
| |
| Yes |
|
Total resolved cases, Cases resolved. |
|
custom:NumberOfStoreUnits |
xbrli:integerItemType |
| Duration |
| |
| Yes |
|
Number of store units. |
|
custom:OctoberOnetTwoThousandEighteenToJuneThirtyTwoThousandNineteenMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
October 1, 2018 to June 30, 2019 [Member] |
|
custom:OfficeRentMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Office Rent [Member] |
|
custom:OneIndividualMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
One Individual [Member] |
|
custom:OneRelatedIndividualMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
One Related Individual [Member] |
|
custom:OperatingLeaseAgreementMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Operating Lease Agreement [Member] |
|
custom:OperatingLeaseMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Operating Lease [Member] |
|
custom:OperatingLeasesMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Operating Leases [Member] |
|
custom:OperatingLossCarryForwardYears |
xbrli:durationItemType |
| Duration |
| |
| Yes |
|
Operating loss carry forward years. |
|
custom:OperatingandFinanceLeaseRightOfUseAssetGross |
xbrli:monetaryItemType |
| Instant |
| Debit |
| Yes |
|
Operating and finance lease right of use asset gross. |
|
custom:OtherIncomesMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Other Income [Member] |
|
custom:OtherIssuesMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Other Issues [Member] |
|
custom:OtherPayableMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Other Payable [Member] |
|
custom:OtherSurchargesAndFees |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Other surcharges and fees. |
|
custom:OutstandingLoan |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Outstanding loan. |
|
custom:PastDueAgreementsMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Past Due Agreements [Member] |
|
custom:PercentageForLease |
num:percentItemType |
| Duration |
| |
| Yes |
|
Percentage for lease. |
|
custom:PercentageOfDamages |
num:percentItemType |
| Instant |
| |
| Yes |
|
Percentage of damages. |
|
custom:PercentageOfInterestAgreedToPay |
num:percentItemType |
| Instant |
| |
| Yes |
|
Percentage of interest agreed to pay. |
|
custom:PercentageOfPropertyInSquareFeet |
num:percentItemType |
| Instant |
| |
| Yes |
|
Percentage of property in square feet. |
|
custom:PercentageOfRentalProperties |
xbrli:pureItemType |
| Duration |
| |
| Yes |
|
Percentage of rental properties. |
|
custom:PercentageOnOwnershipOfRentalProperties |
num:percentItemType |
| Duration |
| |
| Yes |
|
Percentage on ownership of rental properties. |
|
custom:PeriodendMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Period End [Member] |
|
custom:PrepaidExpensesAndOtherAssetsAbstract |
xbrli:stringItemType |
| Duration |
| |
| Yes |
|
|
|
custom:PrepaidExpensesAndOtherAssetsTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| Yes |
|
Prepaid expenses and other assets [Text Block] |
|
custom:PropertiesUnits |
xbrli:integerItemType |
| Instant |
| |
| Yes |
|
Units. |
|
custom:PropertyAndEquipmentMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Property and Equipment, Net [Member] |
|
custom:PropertyAndLandUseTaxes |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Property and land use taxes. |
|
custom:PropertyBuyBackRelatedIssuesMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Property Buy-Back Related Issues [Member] |
|
custom:PropertyFinancingAgreementPayable |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Property financing agreement payable. |
|
custom:PropertyFinancingAgreementPayableAbstract |
xbrli:stringItemType |
| Duration |
| |
| Yes |
|
|
|
custom:PropertyFinancingAgreementPayableDetailsNarrativeAbstract |
xbrli:stringItemType |
| Duration |
| |
| Yes |
|
|
|
custom:PropertyFinancingAgreementPayableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| Yes |
|
Property financing agreements payable [Text Block] |
|
custom:PropertyFinancingPayable |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Property financing payable. |
|
custom:PropertyGroupBMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Property Group B [Member] |
|
custom:PropertyGroupDMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Property Group D [Member] |
|
custom:PurchaseBackFinancingAgreementsMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Purchase Back Financing Agreements [Member] |
|
custom:PurchasebackOptionMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Purchase-back Option [Member] |
|
custom:RMBCurrencyMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
RMB Currency [Member] |
|
custom:RMBFiftyMLoanMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
RMB 50M Loan [Member] |
|
custom:RMBMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
RMB [Member] |
|
custom:RMBNineMLoanMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
RMB 9M Loan [Member] |
|
custom:RMBThreeHundredAndNinetyMLoanMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
RMB 390M Loan [Member] |
|
custom:RMBTwentyThreeMLoanMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
RMB 23M Loan [Member] |
|
custom:RegisteredCapitalFromContribution |
xbrli:monetaryItemType |
| Duration |
| Credit |
| Yes |
|
Registered capital form contributions. |
|
custom:RelatedIndividualMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Related Individual [Member] |
|
custom:RelatedPartiesPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| Yes |
|
Related parties [Policy Text Block] |
|
custom:RentalIncomeMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Rental Income [Member] |
|
custom:RentalPropertiesAccumulatedDepreciation |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Rental properties accumulated depreciation. |
|
custom:RentalPropertiesAtCost |
xbrli:monetaryItemType |
| Instant |
| Debit |
| Yes |
|
Rental properties at cost. |
|
custom:RentalPropertiesNetAbstract |
xbrli:stringItemType |
| Duration |
| |
| Yes |
|
|
|
custom:RentalPropertiesOwnedByCompanySquareFeet |
num:areaItemType |
| Instant |
| |
| Yes |
|
Rental properties owned by the company, square feet. |
|
custom:RentalPropertiesOwnedByCompanySquareMeters |
num:areaItemType |
| Instant |
| |
| Yes |
|
Rental properties owned by the company, square meters. |
|
custom:RentalPropertiesPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| Yes |
|
Rental properties [Policy Text Block] |
|
custom:RepaymentsOfInterestForThePeriod |
xbrli:monetaryItemType |
| Duration |
| Credit |
| Yes |
|
Repayments of interest for the period. |
|
custom:RightOfUseAssetsAbstract |
xbrli:stringItemType |
| Duration |
| |
| Yes |
|
|
|
custom:RightOfUseAssetsTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| Yes |
|
Right of use assets [Text Block] |
|
custom:SMLFinancingAgreementMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
SML Financing Agreement [Member] |
|
custom:SMLFinancingAgreementsGroupCPropertiesMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
SML Financing Agreements - Group C Properties [Member] |
|
custom:SMLFinancingAgreementsMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
SML Financing Agreements [Member] |
|
custom:SaleLeasebackTransactionPayablePastDue |
xbrli:monetaryItemType |
| Instant |
| Debit |
| Yes |
|
Sale and lease-back payable past due. |
|
custom:ScheduleOfDetailedInformationOnPropertyFinancingAgreementPayableTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| Yes |
|
Schedule of Detailed Information on Property Financing Agreement Payable [Table Text Block] |
|
custom:ScheduleOfExpectedFutureMinimumRentsTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| Yes |
|
Schedule of Expected Future Minimum Rents [Table Text Block] |
|
custom:ScheduleOfFinancingAgreementsTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| Yes |
|
Schedule of Financing Agreements [Table Text Block] |
|
custom:ScheduleOfFutureMinimumLeasePayableTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| Yes |
|
Schedule of Future Minimum Lease Payable [Table Text Block] |
|
custom:ScheduleOfLoanPayableRelatedParty |
nonnum:textBlockItemType |
| Duration |
| |
| Yes |
|
Schedule of loan payable to DVDC [Table Text Block] |
|
custom:ScheduleOfLoanPayableTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| Yes |
|
Schedule of Loan Payable to DVDC [Table Text Block] |
|
custom:ScheduleOfMaturityForFinacingAgreementPayableTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| Yes |
|
Schedule of Maturity for Finacing Agreement Payable [Table Text Block] |
|
custom:ScheduleOfOwnershipOfRentalPropertiesTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| Yes |
|
Schedule of Ownership of Rental Properties [Table Text Block] |
|
custom:ScheduleOfPropertyBuybackFinancingAgreementPayableTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| Yes |
|
Schedule of property buy-back financing agreement payable [Table Text Block] |
|
custom:ScheduleOfRentalPropertiesTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| Yes |
|
Schedule of rental properties [Table Text Block] |
|
custom:ScheduleOfRightOfUseAssetsTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| Yes |
|
Schedule of right of use assets [Table Text Block] |
|
custom:SellingPrice |
xbrli:monetaryItemType |
| Duration |
| Debit |
| Yes |
|
Selling Price. |
|
custom:ShareholderMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Shareholder [Member] |
|
custom:ShorttermLoanAndInterestReceivable |
xbrli:monetaryItemType |
| Instant |
| Debit |
| Yes |
|
Short-term loan and interest receivable. |
|
custom:SinoPrideDevelopmentLimitedMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Sino Pride Development Limited [Member] |
|
custom:StatutoryReserveAbstract |
xbrli:stringItemType |
| Duration |
| |
| Yes |
|
|
|
custom:StatutoryReserveAppropriationOfFundForCurrentPeriod |
xbrli:monetaryItemType |
| Duration |
| Credit |
| Yes |
|
Statutory reserve, appropriations of funds for the current period. |
|
custom:StatutoryReserveDescription |
xbrli:stringItemType |
| Duration |
| |
| Yes |
|
Statutory reserve, description. |
|
custom:StatutoryReserveTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| Yes |
|
Statutory reserve [Text Block] |
|
custom:StrategyCooperationAgreementMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Strategy Cooperation Agreement [Member] |
|
custom:SubscriptionAgreementMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Subscription Agreement [Member] |
|
custom:TenTenantsMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Ten Tenants [Member] |
|
custom:TenantsDepositsPayable |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Tenants deposits payable. |
|
custom:TenantsEscrowAccount |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Tenants escrow account. |
|
custom:TermsOfLandUseRights |
xbrli:durationItemType |
| Duration |
| |
| Yes |
|
Terms of land use rights. |
|
custom:ThirdPartiesMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Third Parties [Member] |
|
custom:ThirtyIndividualInvestorsMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
30 individual investors [Member] |
|
custom:ThreeHundredAndNinetyMRMBLoanMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
390M RMB Loan [Member] |
|
custom:TwentyThreeMRMBLoanMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
23M RMB Loan [Member] |
|
custom:TwoIndividualsMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Two Individuals [Member] |
|
custom:UnionHousingHeatingAndOthers |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Union, housing, heating and others liabilities. |
|
custom:UnitsOfProperty |
xbrli:integerItemType |
| Instant |
| |
| Yes |
|
Properties unites. |
|
custom:UnpaidBalanceOfBuybackProperty |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Unpaid balance of property buy-back. |
|
custom:UnpaidPrincipleAndInterestAmount |
xbrli:monetaryItemType |
| Duration |
| Debit |
| Yes |
|
Unpaid principle and interest amount. |
|
custom:UnrelatedIndividualMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Unrelated Individual [Member] |
|
custom:UnrelatedIndividualsMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Unrelated Individuals [Member] |
|
custom:UnrelatedIndividualsandEntitiesMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Unrelated Individuals and Entities [Member] |
|
custom:VatPayable |
xbrli:monetaryItemType |
| Instant |
| Credit |
| Yes |
|
Vat payable. |
|
custom:VictoryCommercialInvestmentLtdMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Victory Commercial Investment Ltd. [Member] |
|
custom:YTDAverageMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
YTD Average [Member] |
|
custom:YearendMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Year end [Member] |
|
custom:ZhongKeChuangZhanInvestmentLtdMember |
nonnum:domainItemType |
| Duration |
| |
| Yes |
|
Zhong Ke Chuang Zhan Investment, Ltd [Member] |
|
dei:AmendmentFlag |
xbrli:booleanItemType |
| Duration |
| |
| |
|
Boolean flag that is true when the XBRL content amends previously-filed or accepted submission. |
|
dei:CurrentFiscalYearEndDate |
xbrli:gMonthDayItemType |
| Duration |
| |
| |
|
End date of current fiscal year in the format --MM-DD. |
|
dei:DocumentFiscalPeriodFocus |
dei:fiscalPeriodItemType |
| Duration |
| |
| |
|
Fiscal period values are FY, Q1, Q2, and Q3. 1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY. |
|
dei:DocumentFiscalYearFocus |
xbrli:gYearItemType |
| Duration |
| |
| |
|
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. |
|
dei:DocumentPeriodEndDate |
xbrli:dateItemType |
| Duration |
| |
| |
|
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. |
|
dei:DocumentType |
dei:submissionTypeItemType |
| Duration |
| |
| |
|
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'. |
|
dei:EntityCentralIndexKey |
dei:centralIndexKeyItemType |
| Duration |
| |
| |
|
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. |
|
dei:EntityCommonStockSharesOutstanding |
xbrli:sharesItemType |
| Instant |
| |
| |
|
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. |
|
dei:EntityCurrentReportingStatus |
dei:yesNoItemType |
| Duration |
| |
| |
|
Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. |
|
dei:EntityDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
All the names of the entities being reported upon in a document. Any legal structure used to conduct activities or to hold assets. Some examples of such structures are corporations, partnerships, limited liability companies, grantor trusts, and other trusts. This item does not include business and geographical segments which are included in the geographical or business segments domains. |
|
dei:EntityEmergingGrowthCompany |
xbrli:booleanItemType |
| Duration |
| |
| |
|
Indicate if registrant meets the emerging growth company criteria. |
|
dei:EntityExTransitionPeriod |
xbrli:booleanItemType |
| Duration |
| |
| |
|
Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards. |
|
dei:EntityFilerCategory |
dei:filerCategoryItemType |
| Duration |
| |
| |
|
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated), (5) Smaller Reporting Accelerated Filer or (6) Smaller Reporting Company and Large Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. |
|
dei:EntityInteractiveDataCurrent |
dei:yesNoItemType |
| Duration |
| |
| |
|
Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). |
|
dei:EntityRegistrantName |
xbrli:normalizedStringItemType |
| Duration |
| |
| |
|
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. |
|
dei:EntityShellCompany |
xbrli:booleanItemType |
| Duration |
| |
| |
|
Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act. |
|
dei:EntitySmallBusiness |
xbrli:booleanItemType |
| Duration |
| |
| |
|
Indicates that the company is a Smaller Reporting Company (SRC). |
|
dei:LegalEntityAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
The set of legal entities associated with a report. |
|
srt:CurrencyAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by currency. |
|
srt:LitigationCaseAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by type of judicial proceeding, alternative dispute resolution or claim. |
|
srt:LitigationCaseTypeDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Judicial proceeding, alternative dispute resolution or claim. For example, but not limited to, name of case, category of litigation, or other differentiating information. |
|
srt:MaximumMember |
nonnum:domainItemType |
| Duration |
| |
| |
|
Upper limit of the provided range. |
|
srt:MinimumMember |
nonnum:domainItemType |
| Duration |
| |
| |
|
Lower limit of the provided range. |
|
srt:MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by type of real estate property. |
|
srt:MortgageLoansOnRealEstateNamePropertyTypeDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Land and any structures permanently fixed to it. |
|
srt:OwnershipAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by name of entity in which ownership interest is disclosed. Excludes equity method investee and named security investment. |
|
srt:OwnershipDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Name of entity in which ownership interest is disclosed. Excludes equity method investee and named security investment. |
|
srt:ProductOrServiceAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by product and service, or group of similar products and similar services. |
|
srt:ProductsAndServicesDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Product or service, or a group of similar products or similar services. |
|
srt:RangeAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by statistical measurement. Includes, but is not limited to, minimum, maximum, weighted average, arithmetic average, and median. |
|
srt:RangeMember |
nonnum:domainItemType |
| Duration |
| |
| |
|
Statistical measurement. Includes, but is not limited to, minimum, maximum, weighted average, arithmetic average, and median. |
|
srt:ScenarioUnspecifiedDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Scenario reported, distinguishing information from actual fact. Includes, but is not limited to, pro forma and forecast. Excludes actual facts. |
|
srt:SegmentGeographicalDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Geographical area. |
|
srt:StatementGeographicalAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by geographical components. |
|
srt:StatementScenarioAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by scenario reported, distinguishing information from actual fact. Includes, but is not limited to, pro forma and forecast. Excludes actual facts. |
|
srt:TitleOfIndividualAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by title of individual or nature of relationship to individual or group of individuals. |
|
srt:TitleOfIndividualWithRelationshipToEntityDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Title of individual, or nature of relationship to individual or group of individuals. |
|
us-gaap:AccountingPoliciesAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:AccountingStandardsUpdate201602Member |
nonnum:domainItemType |
| Duration |
| |
| |
|
Accounting Standards Update 2016-02 Leases (Topic 842). |
|
us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations. |
|
us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. |
|
us-gaap:AccountsPayableCurrentAndNoncurrent |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. |
|
us-gaap:AccruedLiabilitiesCurrentAndNoncurrent |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. |
|
us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services. |
|
us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. |
|
us-gaap:AccumulatedOtherComprehensiveIncomeMember |
nonnum:domainItemType |
| Duration |
| |
| |
|
Accumulated increase (decrease) in equity from transactions and other events and circumstances from non-owner sources, attributable to the parent. Excludes net income (loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. |
|
us-gaap:AdditionalPaidInCapitalCommonStock |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. |
|
us-gaap:AdditionalPaidInCapitalMember |
nonnum:domainItemType |
| Duration |
| |
| |
|
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. |
|
us-gaap:AdjustmentsForNewAccountingPronouncementsAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by new accounting pronouncement. |
|
us-gaap:AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of decrease in additional paid in capital (APIC) resulting from direct costs associated with issuing stock. Includes, but is not limited to, legal and accounting fees and direct costs associated with stock issues under a shelf registration. |
|
us-gaap:AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:AdvertisingCostsPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for advertising cost. |
|
us-gaap:AdvertisingExpense |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount charged to advertising expense for the period, which are expenses incurred with the objective of increasing revenue for a specified brand, product or product line. |
|
us-gaap:AllowanceForDoubtfulAccountsReceivable |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of allowance for credit loss on accounts receivable. |
|
us-gaap:AmortizationOfFinancingCosts |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of amortization expense attributable to debt issuance costs. |
|
us-gaap:AmortizationOfIntangibleAssets |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. |
|
us-gaap:AreaOfLand |
num:areaItemType |
| Instant |
| |
| |
|
Area of land held. |
|
us-gaap:ArrangementsAndNonarrangementTransactionsMember |
nonnum:domainItemType |
| Duration |
| |
| |
|
Collaborative arrangement and arrangement other than collaborative applicable to revenue-generating activity or operations. |
|
us-gaap:AssetImpairmentCharges |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill. |
|
us-gaap:Assets |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. |
|
us-gaap:AssetsAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:AwardDateAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by date or year award under share-based payment arrangement is granted. |
|
us-gaap:AwardDateDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Date or year award under share-based payment arrangement is granted. |
|
us-gaap:AwardTypeAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by type of award under share-based payment arrangement. |
|
us-gaap:BusinessAcquisitionAcquireeDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Identification of the acquiree in a material business combination (or series of individually immaterial business combinations), which may include the name or other type of identification of the acquiree. |
|
us-gaap:BusinessAcquisitionAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by business combination or series of individually immaterial business combinations. |
|
us-gaap:BusinessAcquisitionDescriptionOfAcquiredEntity |
xbrli:stringItemType |
| Duration |
| |
| |
|
With respect to a business combination completed during the period, this element provides a description of the business, other than the name, which may include the industry, size, products and other important information. |
|
us-gaap:BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued |
xbrli:sharesItemType |
| Duration |
| |
| |
|
Number of shares of equity interests issued or issuable to acquire entity. |
|
us-gaap:BusinessCombinationConsiderationTransferred1 |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer. |
|
us-gaap:CapitalLeaseObligations |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal through the balance sheet date. |
|
us-gaap:CashAndCashEquivalentsAtCarryingValue |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. |
|
us-gaap:CashAndCashEquivalentsPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. |
|
us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Entity's cash and cash equivalents accounting policy with respect to restricted balances. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. |
|
us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. |
|
us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; including, but not limited to, disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. |
|
us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of increase (decrease) in cash, cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; including effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. |
|
us-gaap:CommitmentsAndContingencies |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. |
|
us-gaap:CommitmentsAndContingenciesDisclosureAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:CommitmentsAndContingenciesDisclosureTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for commitments and contingencies. |
|
us-gaap:CommonStockMember |
nonnum:domainItemType |
| Duration |
| |
| |
|
Stock that is subordinate to all other stock of the issuer. |
|
us-gaap:CommonStockParOrStatedValuePerShare |
num:perShareItemType |
| Instant |
| |
| |
|
Face amount or stated value per share of common stock. |
|
us-gaap:CommonStockSharesAuthorized |
xbrli:sharesItemType |
| Instant |
| |
| |
|
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. |
|
us-gaap:CommonStockSharesIssued |
xbrli:sharesItemType |
| Instant |
| |
| |
|
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. |
|
us-gaap:CommonStockSharesOutstanding |
xbrli:sharesItemType |
| Instant |
| |
| |
|
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. |
|
us-gaap:CommonStockValue |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. |
|
us-gaap:ComprehensiveIncomeNetOfTaxAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. |
|
us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. |
|
us-gaap:ComprehensiveIncomePolicyPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for comprehensive income. |
|
us-gaap:ConcentrationRiskBenchmarkDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
The denominator in a calculation of a disclosed concentration risk percentage. |
|
us-gaap:ConcentrationRiskByBenchmarkAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by benchmark of concentration risk. |
|
us-gaap:ConcentrationRiskDisclosureTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. |
|
us-gaap:ConcentrationRiskOtherRisk |
xbrli:stringItemType |
| Duration |
| |
| |
|
Description of other risks that arise due to a concentration not specified in another element. At a minimum, the description informs financial statement users of the general nature of the risk. |
|
us-gaap:ConcentrationRiskPercentage1 |
num:percentItemType |
| Duration |
| |
| |
|
For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. |
|
us-gaap:ConsolidationPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. |
|
us-gaap:CurrentIncomeTaxExpenseBenefit |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. |
|
us-gaap:DebtDisclosureAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:DebtDisclosureTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. |
|
us-gaap:DebtInstrumentAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by type of debt instrument, including, but not limited to, draws against credit facilities. |
|
us-gaap:DebtInstrumentCollateralAmount |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount of assets pledged to secure a debt instrument. |
|
us-gaap:DebtInstrumentInterestRateBasisForEffectiveRate |
xbrli:stringItemType |
| Duration |
| |
| |
|
Description of any adjustments made to the stated rate to determine the effective rate. |
|
us-gaap:DebtInstrumentInterestRateEffectivePercentage |
num:percentItemType |
| Instant |
| |
| |
|
Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. |
|
us-gaap:DebtInstrumentInterestRateStatedPercentage |
num:percentItemType |
| Instant |
| |
| |
|
Contractual interest rate for funds borrowed, under the debt agreement. |
|
us-gaap:DebtInstrumentMaturityDate |
xbrli:dateItemType |
| Duration |
| |
| |
|
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. |
|
us-gaap:DebtInstrumentMaturityDateDescription |
xbrli:stringItemType |
| Duration |
| |
| |
|
Description of the maturity date of the debt instrument including whether the debt matures serially and, if so, a brief description of the serial maturities. |
|
us-gaap:DebtInstrumentNameDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
The name for the particular debt instrument or borrowing that distinguishes it from other debt instruments or borrowings, including draws against credit facilities. |
|
us-gaap:DebtInstrumentTerm |
xbrli:durationItemType |
| Duration |
| |
| |
|
Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. |
|
us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount of unamortized debt discount (premium) and debt issuance costs. |
|
us-gaap:DebtPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy related to debt. Includes, but is not limited to, debt issuance costs, the effects of refinancings, method of amortizing debt issuance costs and original issue discount, and classifications of debt. |
|
us-gaap:DeferredChargesPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for deferral and amortization of significant deferred charges. |
|
us-gaap:DeferredIncomeTaxExpenseBenefit |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. |
|
us-gaap:DeferredRentCredit |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
The cumulative difference between the rental payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense over the term of the leased property by the lessor or lessee, respectively. |
|
us-gaap:DeferredTaxAssetsNet |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. |
|
us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsDomestic |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible domestic operating loss carryforwards. Excludes state and local operating loss carryforwards. |
|
us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsForeign |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible foreign operating loss carryforwards. |
|
us-gaap:DeferredTaxAssetsValuationAllowance |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. |
|
us-gaap:DepositsAssets |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Carrying value of amounts transferred to third parties for security purposes that are expected to be returned or applied towards payment in the future. |
|
us-gaap:Depreciation |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. |
|
us-gaap:DepreciationAndAmortization |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. |
|
us-gaap:DepreciationDepletionAndAmortization |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. |
|
us-gaap:DueToOfficersOrStockholdersCurrentAndNoncurrent |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amounts due to recorded owners or owners with a beneficial interest of more than 10 percent of the voting interests or officers of the company. |
|
us-gaap:DueToRelatedPartiesCurrentAndNoncurrent |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Carrying amount as of the balance sheet date of obligations due all related parties. |
|
us-gaap:EarningsPerShareAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:EarningsPerShareBasicAndDiluted |
num:perShareItemType |
| Duration |
| |
| |
|
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. |
|
us-gaap:EarningsPerSharePolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements. |
|
us-gaap:EffectOfExchangeRateOnCash |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of effect of exchange rate changes on cash balances held in foreign currencies. Excludes cash equivalents. |
|
us-gaap:EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of increase (decrease) from effect of exchange rate changes on cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; held in foreign currencies; including, but not limited to, disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. |
|
us-gaap:EffectiveIncomeTaxRateContinuingOperations |
num:percentItemType |
| Duration |
| |
| |
|
Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. |
|
us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate |
num:percentItemType |
| Duration |
| |
| |
|
Percentage of domestic federal statutory tax rate applicable to pretax income (loss). |
|
us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance |
num:percentItemType |
| Duration |
| |
| |
|
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to changes in the valuation allowance for deferred tax assets. |
|
us-gaap:EffectiveIncomeTaxRateReconciliationDeductions |
num:percentItemType |
| Duration |
| |
| |
|
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to deductions. Including, but not limited to, extraterritorial income exclusion deduction, qualified production activity deduction, dividend deduction, deduction for dividend paid to employee stock ownership plan, Medicare prescription drug benefit subsidy deduction, and other deductions. |
|
us-gaap:EffectiveIncomeTaxRateReconciliationDeductionsOther |
num:percentItemType |
| Duration |
| |
| |
|
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other deductions. |
|
us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential |
num:percentItemType |
| Duration |
| |
| |
|
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to statutory income tax expense (benefit) outside of the country of domicile. |
|
us-gaap:EmployeeRelatedLiabilitiesCurrentAndNoncurrent |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. |
|
us-gaap:EquityAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:EquityComponentDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Components of equity are the parts of the total Equity balance including that which is allocated to common, preferred, treasury stock, retained earnings, etc. |
|
us-gaap:EquityMethodInvestmentOwnershipPercentage |
num:percentItemType |
| Instant |
| |
| |
|
The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. |
|
us-gaap:ExtinguishmentOfDebtAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information pertaining to the debt extinguished including the amount of gain (loss), the income tax effect on the gain (loss), and the amount of gain (loss), net or the related income tax, by debt instrument. |
|
us-gaap:ExtinguishmentOfDebtTypeDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Type of debt extinguished. |
|
us-gaap:FairValueMeasurementPolicyPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for fair value measurements of financial and non-financial assets, liabilities and instruments classified in shareholders' equity. Disclosures include, but are not limited to, how an entity that manages a group of financial assets and liabilities on the basis of its net exposure measures the fair value of those assets and liabilities. |
|
us-gaap:FairValueOfFinancialInstrumentsPolicy |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for determining the fair value of financial instruments. |
|
us-gaap:FinanceLeaseInterestExpense |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of interest expense on finance lease liability. |
|
us-gaap:FinanceLeaseLiability |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Present value of lessee's discounted obligation for lease payments from finance lease. |
|
us-gaap:FinanceLeaseRightOfUseAssetAmortization |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of amortization expense attributable to right-of-use asset from finance lease. |
|
us-gaap:FinancialServicesLiabilities |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
For entities that provide full or partial financing and servicing for customers supplementary to its major operations (such as a manufacturer or a homebuilder providing and servicing loans to buyers), represents the liabilities associated with such activities, including accounts payable and accrued liabilities. |
|
us-gaap:FiniteLivedIntangibleAssetUsefulLife |
xbrli:durationItemType |
| Duration |
| |
| |
|
Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. |
|
us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. |
|
us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by major type or class of finite-lived intangible assets. |
|
us-gaap:FiniteLivedIntangibleAssetsGross |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. |
|
us-gaap:FiniteLivedIntangibleAssetsMajorClassNameDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
The major class of finite-lived intangible asset (for example, patents, trademarks, copyrights, etc.) A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. |
|
us-gaap:FiniteLivedIntangibleAssetsNet |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. |
|
us-gaap:ForeignCountryMember |
nonnum:domainItemType |
| Duration |
| |
| |
|
Designated tax departments of governments entitled to levy and collect income taxes from the entity outside the entity's country of domicile. |
|
us-gaap:ForeignCurrencyTransactionGainLossRealized |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount before tax of foreign currency transaction realized gain (loss) recognized in the income statement. |
|
us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. |
|
us-gaap:ForeignExchangeMember |
nonnum:domainItemType |
| Duration |
| |
| |
|
Trading of derivative or nonderivative instruments whose primary underlying risk is tied to foreign exchange rates. |
|
us-gaap:GainLossOnSaleOfPropertyPlantEquipment |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property. |
|
us-gaap:GoodwillAndIntangibleAssetsDisclosureAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:GuarantyLiabilities |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
This item represents a non-contingent liability for the fair value of an obligation to stand ready to perform over the term of a guaranty issued in the event that specified triggering events or conditions occur. |
|
us-gaap:IPOMember |
nonnum:domainItemType |
| Duration |
| |
| |
|
First sale of stock by a private company to the public. |
|
us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets. |
|
us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. |
|
us-gaap:IncomeStatementAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:IncomeTaxAuthorityAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by tax jurisdiction. |
|
us-gaap:IncomeTaxAuthorityDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Agency, division or body classification that levies income taxes, examines tax returns for compliance, or grants exemptions from or makes other decisions pertaining to income taxes. |
|
us-gaap:IncomeTaxDisclosureAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:IncomeTaxDisclosureTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. |
|
us-gaap:IncomeTaxExaminationDescription |
xbrli:stringItemType |
| Duration |
| |
| |
|
A brief description of status of the tax examination, significant findings to date, and the entity's position with respect to the findings. |
|
us-gaap:IncomeTaxExaminationPenaltiesAccrued |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
The amount of estimated penalties accrued as of the balance sheet date arising from income tax examinations. |
|
us-gaap:IncomeTaxExpenseBenefit |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. |
|
us-gaap:IncomeTaxPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. |
|
us-gaap:IncomeTaxesPaidNet |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes. |
|
us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. |
|
us-gaap:IncreaseDecreaseInContractWithCustomerLiability |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of increase (decrease) in obligation to transfer good or service to customer for which consideration has been received or is receivable. |
|
us-gaap:IncreaseDecreaseInDueToRelatedParties |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The increase (decrease) during the reporting period in the aggregate amount of obligations to be paid to the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management; an entity and its principal owners, management, or member of their immediate families; affiliates; or other parties with the ability to exert significant influence. |
|
us-gaap:IncreaseDecreaseInInterestPayableNet |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The increase (decrease) during the reporting period in interest payable, which represents the amount owed to note holders, bond holders, and other parties for interest earned on loans or credit extended to the reporting entity. |
|
us-gaap:IncreaseDecreaseInOperatingCapitalAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:IncreaseDecreaseInOtherOperatingLiabilities |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of increase (decrease) in operating liabilities classified as other. |
|
us-gaap:IncreaseDecreaseInOtherReceivables |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount of increase (decrease) in receivables classified as other. |
|
us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount of increase (decrease) in prepaid expenses, and assets classified as other. |
|
us-gaap:IntangibleAssetsDisclosureTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for all or part of the information related to intangible assets. |
|
us-gaap:IntangibleAssetsNetExcludingGoodwill |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. |
|
us-gaap:InterestExpenseDebt |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of the cost of borrowed funds accounted for as interest expense for debt. |
|
us-gaap:InterestExpenseOther |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of interest expense classified as other. |
|
us-gaap:InterestExpenseRelatedParty |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of interest expense incurred on a debt or other obligation to related party. |
|
us-gaap:InterestIncomeOther |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount of interest income earned from interest bearing assets classified as other. |
|
us-gaap:InterestPaidNet |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount of cash paid for interest, excluding capitalized interest, classified as operating activity. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount. |
|
us-gaap:InterestPayableCurrent |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). |
|
us-gaap:InterestPayableCurrentAndNoncurrent |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of interest payable on debt, including, but not limited to, trade payables. |
|
us-gaap:LaborAndRelatedExpense |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. |
|
us-gaap:LeaseAndRentalExpense |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of rent expense incurred for leased assets, including but not limited to, furniture and equipment, that is not directly or indirectly associated with the manufacture, sale or creation of a product or product line. |
|
us-gaap:LeaseArrangementTypeAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by group of related lease arrangements. For example, but not limited to, leases grouped by facility or contractual terms. |
|
us-gaap:LeaseArrangementTypeDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Group of related lease arrangements. For example, but not limited to, leases grouped by facility or contractual terms. |
|
us-gaap:LeaseCost |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of lease cost recognized by lessee for lease contract. |
|
us-gaap:LeaseExpirationDate1 |
xbrli:dateItemType |
| Duration |
| |
| |
|
Date which lease or group of leases is set to expire, in CCYY-MM-DD format. |
|
us-gaap:LeasesAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:LegalFees |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The amount of expense provided in the period for legal costs incurred on or before the balance sheet date pertaining to resolved, pending or threatened litigation, including arbitration and mediation proceedings. |
|
us-gaap:LegalMattersAndContingenciesTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for legal proceedings, legal contingencies, litigation, regulatory and environmental matters and other contingencies. |
|
us-gaap:LesseeFinanceLeaseDescription |
xbrli:stringItemType |
| Duration |
| |
| |
|
Description of lessee's finance lease. |
|
us-gaap:LesseeFinanceLeaseTermOfContract1 |
xbrli:durationItemType |
| Instant |
| |
| |
|
Term of lessee's finance lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. |
|
us-gaap:LesseeFinanceLeasesTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. |
|
us-gaap:LesseeLeasesPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for leasing arrangement entered into by lessee. |
|
us-gaap:LesseeOperatingLeaseDiscountRate |
num:percentItemType |
| Instant |
| |
| |
|
Discount rate used by lessee to determine present value of operating lease payments. |
|
us-gaap:LesseeOperatingLeasesTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. |
|
us-gaap:LessorLeasesPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for leasing arrangements entered into by lessor. |
|
us-gaap:LessorOperatingLeaseDescription |
xbrli:stringItemType |
| Duration |
| |
| |
|
Description of lessor's operating lease. |
|
us-gaap:Liabilities |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. |
|
us-gaap:LiabilitiesAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:LiabilitiesAndStockholdersEquity |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. |
|
us-gaap:LiabilitiesAndStockholdersEquityAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:LineOfCreditFacilityExpirationDate1 |
xbrli:dateItemType |
| Duration |
| |
| |
|
Date the credit facility terminates, in CCYY-MM-DD format. |
|
us-gaap:LineOfCreditFacilityInterestRateDuringPeriod |
num:percentItemType |
| Duration |
| |
| |
|
The effective interest rate during the reporting period. |
|
us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. |
|
us-gaap:LinesOfCreditCurrent |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year an |
|
us-gaap:LitigationSettlementAmountAwardedToOtherParty |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount awarded to other party in judgment or settlement of litigation. |
|
us-gaap:LitigationSettlementExpense |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of litigation expense, including but not limited to legal, forensic, accounting, and investigative fees. |
|
us-gaap:LoansPayableToBank |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Including the current and noncurrent portions, carrying value as of the balance sheet date of loans from a bank with maturities initially due after one year or beyond the normal operating cycle if longer. |
|
us-gaap:LongTermDebt |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. |
|
us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. |
|
us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. |
|
us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. |
|
us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. |
|
us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. |
|
us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. |
|
us-gaap:LossContingencyDamagesAwardedValue |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of damages awarded to the plaintiff in the legal matter. |
|
us-gaap:MachineryAndEquipmentMember |
nonnum:domainItemType |
| Duration |
| |
| |
|
Tangible personal property used to produce goods and services, including, but is not limited to, tools, dies and molds, computer and office equipment. |
|
us-gaap:MinimumLeasePaymentsSaleLeasebackTransactions |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of minimum lease payments for sale-leaseback transactions accounted for using the deposit method or as a financing. |
|
us-gaap:MinimumLeasePaymentsSaleLeasebackTransactionsWithinThreeYears |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of minimum lease payments for sale-leaseback transactions accounted for using the deposit method or as a financing due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. |
|
us-gaap:MinimumLeasePaymentsSaleLeasebackTransactionsWithinTwoYears |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of minimum lease payments for sale-leaseback transactions accounted for using the deposit method or as a financing due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. |
|
us-gaap:MinorityInterest |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). |
|
us-gaap:MinorityInterestDisclosureTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. |
|
us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners |
num:percentItemType |
| Instant |
| |
| |
|
The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity. |
|
us-gaap:MinorityInterestOwnershipPercentageByParent |
num:percentItemType |
| Instant |
| |
| |
|
The parent entity's interest in net assets of the subsidiary, expressed as a percentage. |
|
us-gaap:NetCashProvidedByUsedInFinancingActivities |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. |
|
us-gaap:NetCashProvidedByUsedInFinancingActivitiesAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:NetCashProvidedByUsedInInvestingActivities |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. |
|
us-gaap:NetCashProvidedByUsedInInvestingActivitiesAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:NetCashProvidedByUsedInOperatingActivities |
xbrli:monetaryItemType |
| Duration |
| |
| |
|
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. |
|
us-gaap:NetCashProvidedByUsedInOperatingActivitiesAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:NetIncomeLoss |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. |
|
us-gaap:NetIncomeLossAttributableToNoncontrollingInterest |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of Net Income (Loss) attributable to noncontrolling interest. |
|
us-gaap:NetRentableArea |
num:areaItemType |
| Instant |
| |
| |
|
Net rentable area for properties owned. |
|
us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. |
|
us-gaap:NoncontrollingInterestAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount after tax of income (loss) attributable to redeemable noncontrolling partner in an operating partnership. |
|
us-gaap:NoncontrollingInterestMember |
nonnum:domainItemType |
| Duration |
| |
| |
|
This element represents that portion of equity (net assets) in a subsidiary not attributable, directly or indirectly, to the parent. A noncontrolling interest is sometimes called a minority interest. |
|
us-gaap:NonoperatingIncomeExpense |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). |
|
us-gaap:NonoperatingIncomeExpenseAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:OfficeEquipmentMember |
nonnum:domainItemType |
| Duration |
| |
| |
|
Tangible personal property used in an office setting. Examples include, but are not limited to, computers, copiers and fax machine. |
|
us-gaap:OperatingExpenses |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. |
|
us-gaap:OperatingExpensesAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:OperatingIncomeLoss |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
The net result for the period of deducting operating expenses from operating revenues. |
|
us-gaap:OperatingLeaseExpense |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of operating lease expense. Excludes sublease income. |
|
us-gaap:OperatingLeaseRightOfUseAsset |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount of lessee's right to use underlying asset under operating lease. |
|
us-gaap:OperatingLeasesFutureMinimumPaymentsDue |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year. |
|
us-gaap:OperatingLeasesFutureMinimumPaymentsDueCurrent |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. |
|
us-gaap:OperatingLeasesFutureMinimumPaymentsReceivable |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Future minimum rental payments in aggregate as of the balance sheet date under operating leases. |
|
us-gaap:OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Future rental payments receivable within the fifth year from the balance sheet date under an operating lease. |
|
us-gaap:OperatingLeasesFutureMinimumPaymentsReceivableInFourYears |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Future rental payments receivable within the fourth year from the balance sheet date under an operating lease. |
|
us-gaap:OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Future rental payments receivable within the third year from the balance sheet date under an operating lease. |
|
us-gaap:OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Future rental payments receivable within the second year from the balance sheet date under an operating lease. |
|
us-gaap:OperatingLossCarryforwards |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. |
|
us-gaap:OptionIndexedToIssuersEquityTypeAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by type of freestanding contracts issued by an entity that are indexed to, and potentially settled in, an entity's own stock. |
|
us-gaap:OptionIndexedToIssuersEquityTypeDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Description of the type of freestanding contract issued by a Company that is indexed to, and potentially settled in, a Company's own stock. Specifically, the pertinent rights and privileges of the securities outstanding. |
|
us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. |
|
us-gaap:OtherAccruedLiabilitiesCurrentAndNoncurrent |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of expenses incurred but not yet paid classified as other. |
|
us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount before tax, after reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature, attributable to noncontrolling interests. |
|
us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. |
|
us-gaap:OtherComprehensiveIncomeLossNetOfTax |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount after tax and reclassification adjustments of other comprehensive income (loss). |
|
us-gaap:OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:OtherGeneralAndAdministrativeExpense |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of general and administrative expense classified as other. |
|
us-gaap:OtherLiabilities |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of liabilities classified as other. |
|
us-gaap:OtherLiabilitiesDisclosureAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:OtherLiabilitiesDisclosureTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for other liabilities. |
|
us-gaap:OtherLiabilitiesTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of other liabilities. |
|
us-gaap:OtherNonoperatingIncome |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount of income related to nonoperating activities, classified as other. |
|
us-gaap:OtherReceivables |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount due from parties in nontrade transactions, classified as other. |
|
us-gaap:PayablesAndAccrualsAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:PaymentsForCapitalImprovements |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
The cash outflow for acquisition of or capital improvements to properties held for investment (operating, managed, leased) or for use. |
|
us-gaap:PaymentsToAcquireLoansReceivable |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
The cash outflow for the purchase of loan receivable arising from the financing of goods and services. |
|
us-gaap:PrepaidExpenseAndOtherAssets |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets. |
|
us-gaap:PrepaidExpenseCurrentAndNoncurrent |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Carrying amount as of the balance sheet date of expenditures made in advance of when the economic benefit of the cost will be realized, and which will be expensed in future periods with the passage of time or when a triggering event occurs. |
|
us-gaap:ProceedsFromBankDebt |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The cash inflow from bank borrowing during the year. |
|
us-gaap:ProceedsFromContributionsFromAffiliates |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The cash inflow from an entity that is affiliated with the entity by means of direct or indirect ownership. |
|
us-gaap:ProceedsFromIssuanceInitialPublicOffering |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The cash inflow associated with the amount received from entity's first offering of stock to the public. |
|
us-gaap:ProceedsFromIssuanceOfCommonStock |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The cash inflow from the additional capital contribution to the entity. |
|
us-gaap:ProceedsFromLinesOfCredit |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. |
|
us-gaap:ProceedsFromRelatedPartyDebt |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The cash inflow from a long-term borrowing made from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Proceeds from Advances from Affiliates. |
|
us-gaap:ProceedsFromRepaymentsOfRelatedPartyDebt |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of cash inflow (outflow) from long-term debt by a related party. Related parties, include, but are not limited to, affiliates, owners or officers and their immediate families, and pension trusts. |
|
us-gaap:ProceedsFromShortTermDebt |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
The cash inflow from a borrowing having initial term of repayment within one year or the normal operating cycle, if longer. |
|
us-gaap:ProfitLoss |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. |
|
us-gaap:PropertyManagementFeeRevenue |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
The amount of revenue derived from managing real estate properties. |
|
us-gaap:PropertyPlantAndEquipmentAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:PropertyPlantAndEquipmentByTypeAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by type of long-lived, physical assets used to produce goods and services and not intended for resale. |
|
us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. |
|
us-gaap:PropertyPlantAndEquipmentGross |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. |
|
us-gaap:PropertyPlantAndEquipmentNet |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. |
|
us-gaap:PropertyPlantAndEquipmentPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, basis of assets, depreciation and depletion methods used, including composite deprecation, estimated useful lives, capitalization policy, accounting treatment for costs incurred for repairs and maintenance, capitalized interest and the method it is calculated, disposals and impairments. |
|
us-gaap:PropertyPlantAndEquipmentTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. |
|
us-gaap:PropertyPlantAndEquipmentTypeDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Listing of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. |
|
us-gaap:PropertyPlantAndEquipmentUsefulLife |
xbrli:durationItemType |
| Duration |
| |
| |
|
Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. |
|
us-gaap:PropertySubjectToOrAvailableForOperatingLeaseAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by property that could be leased or is available for lease. |
|
us-gaap:PropertySubjectToOrAvailableForOperatingLeaseDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
A descriptive title of whether the property is subject to or available for operating lease. |
|
us-gaap:ProvisionForDoubtfulAccounts |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Amount of expense (reversal of expense) for expected credit loss on accounts receivable. |
|
us-gaap:RealEstateHeldForDevelopmentAndSalePolicy |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for real estate held for development or sale. |
|
us-gaap:RealEstatePropertiesAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by ownership of the property. |
|
us-gaap:RealEstatePropertiesDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Represents categories of ownership of real estate properties. |
|
us-gaap:ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for determining the allowance for doubtful accounts for trade and other accounts receivable balances, and when impairments, charge-offs or recoveries are recognized. |
|
us-gaap:RelatedPartyDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Related parties include affiliates; other entities for which investments are accounted for by the equity method by the entity; trusts for benefit of employees; and principal owners, management, and members of immediate families. It also may include other parties with which the entity may control or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. |
|
us-gaap:RelatedPartyTransactionsAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:RelatedPartyTransactionsByRelatedPartyAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by type of related party. Related parties include, but not limited to, affiliates; other entities for which investments are accounted for by the equity method by the entity; trusts for benefit of employees; and principal owners, management, and members of immediate families. It also may include other parties with which the entity may control or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. |
|
us-gaap:RelatedPartyTransactionsDisclosureTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. |
|
us-gaap:RentalProperties |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Carrying amount of income producing properties held for rental. |
|
us-gaap:RepaymentsOfBankDebt |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
The cash outflow to settle a bank borrowing during the year. |
|
us-gaap:RepaymentsOfDebt |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations. |
|
us-gaap:RestrictedCash |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount of cash restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. |
|
us-gaap:RestrictedCashAndCashEquivalents |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount of cash and cash equivalents restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. |
|
us-gaap:RetainedEarningsAccumulatedDeficit |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
The cumulative amount of the reporting entity's undistributed earnings or deficit. |
|
us-gaap:RetainedEarningsMember |
nonnum:domainItemType |
| Duration |
| |
| |
|
The cumulative amount of the reporting entity's undistributed earnings or deficit. |
|
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. |
|
us-gaap:RevenueFromContractWithCustomerPolicyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for revenue from contract with customer. |
|
us-gaap:RevenuesAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:RisksAndUncertaintiesAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:SaleLeasebackTransactionAmountDueUnderFinancingArrangement |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
The liability due as of the balance sheet date for leasebacks accounted for using the deposit method. |
|
us-gaap:SaleOfStockNameOfTransactionDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Sale of the entity's stock, including, but not limited to, initial public offering (IPO) and private placement. |
|
us-gaap:SalesRevenueNetMember |
nonnum:domainItemType |
| Duration |
| |
| |
|
Revenue from sale of product and rendering of service and other sources of income, when it serves as benchmark in concentration of risk calculation. |
|
us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses. |
|
us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. |
|
us-gaap:ScheduleOfDebtTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. |
|
us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. |
|
us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. |
|
us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. |
|
us-gaap:ScheduleOfForeignExchangeContractsStatementOfFinancialPositionTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of the presentation of foreign exchange contracts on the statement of financial position, including the fair value amounts and location of such amounts. |
|
us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. |
|
us-gaap:ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class. |
|
us-gaap:ScheduleOfLossContingenciesByContingencyTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of the loss contingencies that were reported in the period or disclosed as of the balance sheet date. |
|
us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. |
|
us-gaap:ScheduleOfOtherCurrentAssetsTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of the carrying amounts of other current assets. |
|
us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. |
|
us-gaap:ScheduleOfRentExpenseTableTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of rental expense from operating leases for each period for which an income statement is presented with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included. |
|
us-gaap:ScheduleOfVariableInterestEntitiesTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit v |
|
us-gaap:SellingExpense |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
Expenses recognized in the period that are directly related to the selling and distribution of products or services. |
|
us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Award under share-based payment arrangement. |
|
us-gaap:SharesIssuedPricePerShare |
num:perShareItemType |
| Instant |
| |
| |
|
Per share or per unit amount of equity securities issued. |
|
us-gaap:SharesOutstanding |
xbrli:sharesItemType |
| Instant |
| |
| |
|
Number of shares issued which are neither cancelled nor held in the treasury. |
|
us-gaap:ShortTermDebtTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for short-term debt. |
|
us-gaap:ShortTermLeasePayments |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount of cash outflow for short-term lease payment excluded from lease liability. |
|
us-gaap:ShorttermDebtAverageOutstandingAmount |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
For the form of debt having an initial term of less than one year or less than the normal operating cycle, if longer, average borrowings during the period. |
|
us-gaap:SignificantAccountingPoliciesTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for all significant accounting policies of the reporting entity. |
|
us-gaap:StatementEquityComponentsAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by component of equity. |
|
us-gaap:StatementOfCashFlowsAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:StatementOfFinancialPositionAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:StatementOfStockholdersEquityAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:StockIssuedDuringPeriodSharesNewIssues |
xbrli:sharesItemType |
| Duration |
| |
| |
|
Number of new stock issued during the period. |
|
us-gaap:StockIssuedDuringPeriodValueNewIssues |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering. |
|
us-gaap:StockholdersEquity |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. |
|
us-gaap:StockholdersEquityAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. |
|
us-gaap:StockholdersEquityNoteAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:StockholdersEquityNoteDisclosureTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. |
|
us-gaap:SubsequentEventMember |
nonnum:domainItemType |
| Duration |
| |
| |
|
Identifies event that occurred after the balance sheet date but before financial statements are issued or available to be issued. |
|
us-gaap:SubsequentEventTypeAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by event that occurred after the balance sheet date but before financial statements are issued or available to be issued. |
|
us-gaap:SubsequentEventTypeDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Event that occurred after the balance sheet date but before financial statements are issued or available to be issued. |
|
us-gaap:SubsequentEventsAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:SubsequentEventsTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. |
|
us-gaap:SubsidiarySaleOfStockAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by type of sale of the entity's stock. |
|
us-gaap:SubstantialDoubtAboutGoingConcernConditionsOrEvents |
xbrli:stringItemType |
| Duration |
| |
| |
|
Description of principal conditions or events that raised substantial doubt about the ability to continue as a going concern. |
|
us-gaap:SubstantialDoubtAboutGoingConcernTextBlock |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
The entire disclosure when substantial doubt is raised about the ability to continue as a going concern. Includes, but is not limited to, principal conditions or events that raised substantial doubt about the ability to continue as a going concern, management's evaluation of the significance of those conditions or events in relation to the ability to meet its obligations, and management's plans that alleviated or are intended to mitigate the conditions or events that raise substantial doubt about the ability to continue as a going concern. |
|
us-gaap:SupplementalCashFlowElementsAbstract |
xbrli:stringItemType |
| Duration |
| |
| |
|
|
|
us-gaap:Supplies |
xbrli:monetaryItemType |
| Instant |
| Debit |
| |
|
Amount of consideration paid in advance for supplies that provide economic benefits within a future period of one year or the normal operating cycle, if longer. |
|
us-gaap:TaxesExcludingIncomeAndExciseTaxes |
xbrli:monetaryItemType |
| Duration |
| Debit |
| |
|
All taxes not related to income of the entity or excise or sales taxes levied on the revenue of the entity that are not reported elsewhere. These taxes could include production, real estate, personal property, and pump tax. |
|
us-gaap:TaxesPayableCurrentAndNoncurrent |
xbrli:monetaryItemType |
| Instant |
| Credit |
| |
|
Carrying value as of the balance sheet date of obligations incurred and payable for statutory income, sales, use, payroll, excise, real, property and other taxes. |
|
us-gaap:TradingActivityByTypeAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by type of trading activity. |
|
us-gaap:TradingActivityByTypeDomain |
nonnum:domainItemType |
| Duration |
| |
| |
|
Gains and losses on trading activities (including both derivative and nonderivative instruments) recognized in the statement of financial performance, separately by major types of items (such as fixed income/interest rates, foreign exchange, equity, commodity, and credit). |
|
us-gaap:TypeOfAdoptionMember |
nonnum:domainItemType |
| Duration |
| |
| |
|
Adoption and early adoption of sources of change to generally accepted accounting principles (GAAP) in the United States. The FASB released the FASB Accounting Standards Codification as the authoritative source of literature effective for interim and annual periods ending after September 15, 2009. As part of the Codification process, the FASB issues Accounting Standards Updates to amend the Codification but otherwise the Accounting Standards Updates are not authoritative in their own right. All previous accounting standards (such as FASB Statements of Financial Accounting Standards, FASB Interpretations, FASB Staff Positions, Emerging Issues Task Force Consensuses, other pronouncements of the FASB or other designated bodies, or other forms of GAAP are considered accounting pronouncements) were superseded upon the adoption of the Codification. For an interim period, references to the superseded standards are included to help users transition from the previous accounting hierarchy and will be removed from futu |
|
us-gaap:TypeOfArrangementAxis |
xbrli:stringItemType |
| Duration |
| |
| |
|
Information by collaborative arrangement and arrangement other than collaborative applicable to revenue-generating activity or operations. |
|
us-gaap:UseOfEstimates |
nonnum:textBlockItemType |
| Duration |
| |
| |
|
Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. |
|
us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount |
xbrli:monetaryItemType |
| Duration |
| Credit |
| |
|
Amount of increase (decrease) in the valuation allowance for a specified deferred tax asset. |
|
us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding |
xbrli:sharesItemType |
| Duration |
| |
| |
|
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. |
|
us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted |
xbrli:sharesItemType |
| Duration |
| |
| |
|
Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). |
|
us-gaap:WeightedAverageNumberOfSharesOutstandingBasic |
xbrli:sharesItemType |
| Duration |
| |
| |
|
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. |
|
Total Elements |
|
640 |
Total Non-Abstract Elements |
|
505 |
Total Extension Elements |
|
241 |
Percent Extended |
|
37% |
Percent Extended (excluding abstracts) |
|
46% |
Total Facts |
|
1152 |
|
(End Elements) |