2024 Q1 Form 10-K Financial Statement

#000121390024026607 Filed on March 27, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $6.864M $20.96M $86.55M
YoY Change -65.32% -1.91% -13.76%
Cost Of Revenue $6.465M $20.71M $85.55M
YoY Change -67.79% 1.81% -10.51%
Gross Profit $399.1K $250.2K $999.9K
YoY Change -244.08% -75.61% -78.97%
Gross Profit Margin 5.81% 1.19% 1.16%
Selling, General & Admin $3.901M $2.922M $9.075M
YoY Change 56.32% 92.55% -9.78%
% of Gross Profit 977.36% 1167.62% 907.66%
Research & Development $90.77K
YoY Change -37.63%
% of Gross Profit 9.08%
Depreciation & Amortization $3.482M $3.656M $14.23M
YoY Change -5.55% 2.41% -3.8%
% of Gross Profit 872.38% 1460.94% 1422.77%
Operating Expenses $3.901M $2.922M $9.075M
YoY Change 56.32% 92.55% -11.06%
Operating Profit -$3.502M -$2.672M -$8.076M
YoY Change 26.31% 443.73% 52.24%
Interest Expense $210.3K -$184.8K -$23.19K
YoY Change -15.6% -140.62% -102.26%
% of Operating Profit
Other Income/Expense, Net $371.7K
YoY Change
Pretax Income -$3.710M -$3.985M -$9.599M
YoY Change 35.73% 10972.74% 97.51%
Income Tax $36.79K -$1.070K $347.0K
% Of Pretax Income
Net Earnings -$3.747M -$3.984M -$9.946M
YoY Change 37.08% -66.54% -39.98%
Net Earnings / Revenue -54.58% -19.0% -11.49%
Basic Earnings Per Share -$0.37 -$0.99
Diluted Earnings Per Share -$0.37 -$0.40 -$0.99
COMMON SHARES
Basic Shares Outstanding 10.07M shares 10.07M shares 10.07M shares
Diluted Shares Outstanding 10.07M shares 10.07M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.514M $3.919M $3.919M
YoY Change -73.05% -58.86% -58.86%
Cash & Equivalents $5.418M $3.919M $3.919M
Short-Term Investments
Other Short-Term Assets $5.253M $6.045M $6.045M
YoY Change -71.96% -77.78% -55.44%
Inventory $3.492M $3.555M $3.555M
Prepaid Expenses
Receivables $2.386M $575.5K $575.5K
Other Receivables $727.4K $14.26M $14.26M
Total Short-Term Assets $30.01M $28.36M $28.36M
YoY Change -41.7% -39.88% -39.88%
LONG-TERM ASSETS
Property, Plant & Equipment $160.2M $164.5M $164.5M
YoY Change 6.93% 8.53% 6.69%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Total Long-Term Assets $162.6M $166.4M $166.4M
YoY Change 4.64% 5.79% 5.79%
TOTAL ASSETS
Total Short-Term Assets $30.01M $28.36M $28.36M
Total Long-Term Assets $162.6M $166.4M $166.4M
Total Assets $192.6M $194.7M $194.7M
YoY Change -6.89% -4.75% -4.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $241.8K $4.990K $4.990K
YoY Change -0.7% -0.8%
Accrued Expenses $597.3K $2.057M $2.057M
YoY Change -3.15% 238.14% -15.99%
Deferred Revenue
YoY Change
Short-Term Debt $423.6K $423.6K
YoY Change -92.43% -92.43%
Long-Term Debt Due $8.117M $6.875M $6.875M
YoY Change 54.17% 35.85% 35.85%
Total Short-Term Liabilities $24.57M $21.42M $21.42M
YoY Change 35.54% 21.42% 21.42%
LONG-TERM LIABILITIES
Long-Term Debt $3.242M $4.504M $4.504M
YoY Change -54.35% -5.86% -5.86%
Other Long-Term Liabilities $491.9K $483.9K $483.9K
YoY Change -6.21% -30.73% -30.73%
Total Long-Term Liabilities $3.242M $4.988M $4.988M
YoY Change -57.49% -9.03% -9.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.57M $21.42M $21.42M
Total Long-Term Liabilities $3.242M $4.988M $4.988M
Total Liabilities $28.31M $26.41M $26.41M
YoY Change 9.91% 14.2% 14.2%
SHAREHOLDERS EQUITY
Retained Earnings $79.88M $83.63M
YoY Change -10.63%
Common Stock $89.18M $89.18M
YoY Change 885880.9% 885880.9%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $164.3M $168.3M $168.3M
YoY Change
Total Liabilities & Shareholders Equity $192.6M $194.7M $194.7M
YoY Change -6.89% -4.75% -4.75%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$3.747M -$3.984M -$9.946M
YoY Change 37.08% -66.54% -39.98%
Depreciation, Depletion And Amortization $3.482M $3.656M $14.23M
YoY Change -5.55% 2.41% -3.8%
Cash From Operating Activities $624.4K $5.381M $12.87M
YoY Change -87.02% 63.55% 20.07%
INVESTING ACTIVITIES
Capital Expenditures $9.030K $13.08M $22.29M
YoY Change -96.94% 358.71% 391.67%
Acquisitions
YoY Change
Other Investing Activities $53.57K $53.57K
YoY Change -62.54% -100.84%
Cash From Investing Activities -$9.027K -$13.03M -$22.24M
YoY Change -96.94% 380.94% 104.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $422.5K 2.410M 4.410M
YoY Change -83.53% -131.22% -601.38%
NET CHANGE
Cash From Operating Activities $624.4K 5.381M 12.87M
Cash From Investing Activities -$9.027K -13.03M -22.24M
Cash From Financing Activities $422.5K 2.410M 4.410M
Net Change In Cash $1.026M -5.238M -4.958M
YoY Change -85.81% -26.62% 195.7%
FREE CASH FLOW
Cash From Operating Activities $624.4K $5.381M $12.87M
Capital Expenditures $9.030K $13.08M $22.29M
Free Cash Flow $615.4K -$7.702M -$9.422M
YoY Change -86.37% -1857.96% -252.33%

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CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
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CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-614738 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
12871086 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
10719388 usd
CY2023 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
22292870 usd
CY2022 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
4534092 usd
CY2023 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
53573 usd
CY2022 us-gaap Payments To Acquire Land Held For Use
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6364439 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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-22239297 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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-10898531 usd
CY2023 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
1275546 usd
CY2022 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
6214020 usd
CY2023 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
3769948 usd
CY2022 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
59195 usd
CY2023 us-gaap Repayments Of Bank Debt
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7647610 usd
CY2022 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
6071952 usd
CY2023 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
74154 usd
CY2022 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
206114 usd
CY2023 itp Loan To A Related Partynet
LoanToARelatedPartynet
7086369 usd
CY2022 itp Loan To A Related Partynet
LoanToARelatedPartynet
-874745 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4410099 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-879596 usd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-174835 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-618005 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5132947 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1676744 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9524868 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11201612 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4391921 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9524868 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
1484461 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
320568 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
759458 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2049911 usd
CY2023 itp Cash And Bank Balances
CashAndBankBalances
3918938 usd
CY2022 itp Cash And Bank Balances
CashAndBankBalances
9524868 usd
CY2023Q4 us-gaap Restricted Cash Equivalents Current
RestrictedCashEquivalentsCurrent
472983 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
4391921 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
9524868 usd
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-10
CY2023 us-gaap Variable Interest Entity Ownership Percentage
VariableInterestEntityOwnershipPercentage
1 pure
CY2009Q2 us-gaap Capital
Capital
60000000 usd
CY2009Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1
CY2010Q4 itp Percentage Share Of Distributable Profit
PercentageShareOfDistributableProfit
1 pure
CY2023 itp Subsidary Ownership Percentage
SubsidaryOwnershipPercentage
1 pure
CY2023 us-gaap Foreign Currency Transactions Description
ForeignCurrencyTransactionsDescription
The current exchange rates used by the Company as of December 31, 2023, and 2022 to translate the Chinese RMB to the U.S. Dollars are 7.0827:1, and 6.9646:1, respectively. Revenues and expenses are translated using the average exchange rates prevailing throughout the respective years at 7.0558:1 and 6.75731 for the years ended December 31, 2023, and 2022, respectively.
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Use of Estimates</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of December 31, 2023, and 2022, and revenues and expenses for the years ended December 31, 2023, and 2022. The most significant estimates relate to allowance for uncollectible accounts receivable, inventory valuation, useful lives and impairment for property, plant and equipment, valuation allowance for deferred tax assets and contingencies. Actual results could differ from those estimates made by management.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
881878 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
69053 usd
CY2023 itp Provisions Reversal For The Year
ProvisionsReversalForTheYear
858689 usd
CY2022 itp Provisions Reversal For The Year
ProvisionsReversalForTheYear
-843779 usd
CY2023 itp Exchange Difference
ExchangeDifference
-11444 usd
CY2022 itp Exchange Difference
ExchangeDifference
-30954 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
11745 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
881878 usd
CY2023 itp Reserve Fund Percentage
ReserveFundPercentage
0.50 pure
CY2023 itp Statutory Reserve Percentage
StatutoryReservePercentage
0.50 pure
CY2023Q4 itp Capital Reserve
CapitalReserve
75030000 cny
CY2023Q4 itp Capital Reserve
CapitalReserve
11811470 usd
CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
90766 usd
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
145538 usd
CY2019Q2 itp Value Added Tax Percentage
ValueAddedTaxPercentage
0.13 pure
CY2022Q3 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
78.209 pure
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
472983 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
27207127 usd
CY2023Q4 us-gaap Inventory Raw Materials
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372968 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1471436 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
300207 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
132810 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2885019 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1268376 usd
CY2023Q4 us-gaap Inventory Gross
InventoryGross
3558194 usd
CY2022Q4 us-gaap Inventory Gross
InventoryGross
2872622 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2959 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
3555235 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
2872622 usd
CY2022Q4 itp Prepaid Land Lease
PrepaidLandLease
172300 usd
CY2023Q4 itp Prepayment For Purchase Of Materials
PrepaymentForPurchaseOfMaterials
5446823 usd
CY2022Q4 itp Prepayment For Purchase Of Materials
PrepaymentForPurchaseOfMaterials
12941951 usd
CY2023Q4 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
13409459 usd
CY2022Q4 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
13640868 usd
CY2023Q4 itp Prepaid Gas
PrepaidGas
116372 usd
CY2022Q4 itp Prepaid Gas
PrepaidGas
27462 usd
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
8636 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
424546 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
18981290 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
308421734 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
286406838 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
144447712 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
134836940 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
163974022 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
151569898 usd
CY2023 itp Property And Equipment Lease Term Description
PropertyAndEquipmentLeaseTermDescription
land use rights represented twenty-three parcel of state-owned lands located in Xushui District and Wei County of Hebei Province in China, with lease terms of 50 years expiring from 2061 to 2068.
CY2023Q4 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P50Y
CY2022 itp Property And Equipment Lease Term Description
PropertyAndEquipmentLeaseTermDescription
land use rights represented twenty-three parcel of state-owned lands located in Xushui District of Hebei Province in China, with lease terms of 50 years expiring from 2061 to 2066, respectively.
CY2022Q4 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P50Y
CY2023 us-gaap Depreciation And Amortization
DepreciationAndAmortization
14225990 usd
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
14788036 usd
CY2023 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-1500298 usd
CY2020Q3 us-gaap Sale Leaseback Transaction Lease Term
SaleLeasebackTransactionLeaseTerm
P3Y
CY2020Q3 us-gaap Sale Leaseback Transaction Imputed Interest Rate
SaleLeasebackTransactionImputedInterestRate
0.156 pure
CY2020Q3 itp Sale Leaseback Transaction Interest Rate Amount
SaleLeasebackTransactionInterestRateAmount
567099 usd
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
141189 cny
CY2023 us-gaap Lease Cost
LeaseCost
141189 cny
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
141189 cny
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
141189 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
141189 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
141189 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
141189 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
141189 usd
CY2023Q4 itp Operating Lease Payment
OperatingLeasePayment
705945 usd
CY2023Q4 us-gaap Receivable With Imputed Interest Net Amount
ReceivableWithImputedInterestNetAmount
121595 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
584350 usd
CY2023Q4 itp Less Current Portion Record In Current Liabilities
LessCurrentPortionRecordInCurrentLiabilities
-100484 usd
CY2023Q4 itp Present Value Of Lease Liabilities
PresentValueOfLeaseLiabilities
483866 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y7M6D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0756 pure
CY2023Q4 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
423567 usd
CY2022Q4 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
5598311 usd
CY2023Q4 us-gaap Unsecured Debt
UnsecuredDebt
574333 usd
CY2022Q4 us-gaap Unsecured Debt
UnsecuredDebt
423567 usd
CY2023 us-gaap Short Term Debt Weighted Average Interest Rate Over Time
ShortTermDebtWeightedAverageInterestRateOverTime
0.0448 pure
CY2022 us-gaap Short Term Debt Weighted Average Interest Rate Over Time
ShortTermDebtWeightedAverageInterestRateOverTime
0.0472 pure
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
11378429 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
9040002 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
11378429 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
9040002 usd
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
6874497 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
4835884 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4503932 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4204118 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
6874497 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3374419 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1129513 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
11378429 usd
CY2023 us-gaap Interest And Debt Expense
InterestAndDebtExpense
977678 usd
CY2022 us-gaap Interest And Debt Expense
InterestAndDebtExpense
988997 usd
CY2023 us-gaap Loans And Leases Receivable Related Parties Description
LoansAndLeasesReceivableRelatedPartiesDescription
Mr. Zhenyong Liu agreed to extend the loan for additional 3 years and the remaining balance will be due on July 12, 2021.
CY2019Q4 itp Interest Expenses
InterestExpenses
94636 shares
CY2022Q4 us-gaap Long Term Loans From Bank
LongTermLoansFromBank
197338 usd
CY2022Q4 us-gaap Other Borrowings
OtherBorrowings
7059455 usd
CY2022Q4 us-gaap Other Borrowings
OtherBorrowings
7059455 usd
CY2022Q4 us-gaap Other Borrowings
OtherBorrowings
50000000 cny
CY2022Q4 us-gaap Other Borrowings
OtherBorrowings
50000000 cny
CY2023Q3 us-gaap Loans Payable
LoansPayable
4235673 usd
CY2023Q3 us-gaap Loans Payable
LoansPayable
30000000 cny
CY2023Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
727433 usd
CY2022Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
727433 usd
CY2023Q4 us-gaap Accrued Utilities Current
AccruedUtilitiesCurrent
3054 usd
CY2022Q4 us-gaap Accrued Utilities Current
AccruedUtilitiesCurrent
3036 usd
CY2022Q4 us-gaap Accrued Rent Current
AccruedRentCurrent
56646 usd
CY2023Q4 itp Value Added Taxes Payable Current
ValueAddedTaxesPayableCurrent
696 usd
CY2021Q1 us-gaap Stockholders Equity Other Shares
StockholdersEquityOtherShares
2618182 shares
CY2022Q4 itp Value Added Taxes Payable Current
ValueAddedTaxesPayableCurrent
69053 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
598319 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
608465 usd
CY2023Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
11175858 usd
CY2022Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
3294940 usd
CY2023Q4 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
47040 usd
CY2022Q4 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
19524 usd
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
1070708 usd
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
1595354 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
16842 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
18540 usd
CY2023Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
12912517 usd
CY2022Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
5665558 usd
CY2022Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
646283 usd
CY2023 itp Change In Fair Value Of Derivative Liability
ChangeInFairValueOfDerivativeLiability
646229 usd
CY2023Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
54 usd
CY2023 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
646229 usd
CY2022 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
1417251 usd
CY2023 itp Change In Fair Value Of Derivative Liability
ChangeInFairValueOfDerivativeLiability
646229 usd
CY2022 itp Change In Fair Value Of Derivative Liability
ChangeInFairValueOfDerivativeLiability
1417251 usd
CY2021Q1 itp Common Stock Issued To Purchase Of Warrants
CommonStockIssuedToPurchaseOfWarrants
2618182 shares
CY2021Q1 us-gaap Debt Conversion Converted Instrument Warrants Or Options Issued1
DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1
2618182 shares
CY2021Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
14400000 usd
CY2021Q1 itp Corresponding Price Per Share
CorrespondingPricePerShare
5.5
CY2021Q1 itp Exercise Price Per Warrant1
ExercisePricePerWarrant1
5.5
CY2021Q1 itp Aggregate Shares Of Common Stock
AggregateSharesOfCommonStock
2927786 shares
CY2021Q1 itp Warrants To Purchase Shares
WarrantsToPurchaseShares
1463893 shares
CY2021Q1 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
1463893 shares
CY2021Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
21900000 usd
CY2021Q1 itp Warrant Price Per Share
WarrantPricePerShare
7.5
CY2021Q1 us-gaap Warrant Exercise Price Increase
WarrantExercisePriceIncrease
7.5
CY2021Q2 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-10
CY2022Q2 itp Stock Issued During Period Price Per Share Reverse Stock Splits
StockIssuedDuringPeriodPricePerShareReverseStockSplits
0.001
CY2022Q3 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
150000 shares
CY2022Q3 us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
156000 usd
CY2020Q2 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
88000 shares
CY2020Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
352000 shares
CY2021Q1 us-gaap Debt Conversion Converted Instrument Warrants Or Options Issued1
DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1
2618182 shares
CY2021Q1 itp Common Stock Issued To Purchase Stock
CommonStockIssuedToPurchaseStock
2618182 shares
CY2021Q1 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
1410690 shares
CY2021Q1 us-gaap Warrant Exercise Price Increase
WarrantExercisePriceIncrease
5.5
CY2021Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1207492 shares
CY2021Q1 itp Common Stock Issued To Purchase Stock
CommonStockIssuedToPurchaseStock
1463893 shares
CY2021Q1 us-gaap Warrant Exercise Price Increase
WarrantExercisePriceIncrease
7.5
CY2021Q1 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
6750 shares
CY2021Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1457143 shares
CY2022Q4 itp Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding And Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingAndExercisableNumber
3016635 shares
CY2022Q4 itp Share Based Compensation Arrangement By Share Based Payment Award Non Options Equity Instruments Outstanding And Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityInstrumentsOutstandingAndExercisableWeightedAverageExercisePrice
6.6907 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3016635 shares
CY2023Q4 itp Share Based Compensation Arrangement By Share Based Payment Award Non Options Equity Instruments Outstanding And Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityInstrumentsOutstandingAndExercisableWeightedAverageExercisePrice
6.6907 shares
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9946035 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-16571308 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10065920 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9972788 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.99
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.66
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9946035 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-16571308 usd
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10065920 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9972788 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10065920 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9972788 shares
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.99
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.66
CY2017 us-gaap Income Tax Credits And Adjustments
IncomeTaxCreditsAndAdjustments
80000 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
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