2022 Q4 Form 10-Q Financial Statement
#000149315222032760 Filed on November 17, 2022
Income Statement
Concept | 2022 Q4 | 2022 Q3 | 2021 Q4 |
---|---|---|---|
Revenue | $2.778M | $1.953M | |
YoY Change | -42.75% | ||
Cost Of Revenue | $1.898M | $1.651M | |
YoY Change | -57.42% | ||
Gross Profit | $879.8K | $302.5K | |
YoY Change | -165.18% | ||
Gross Profit Margin | 31.67% | 15.49% | |
Selling, General & Admin | $251.5K | $226.5K | |
YoY Change | -43.28% | ||
% of Gross Profit | 28.58% | 74.88% | |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $255.1K | $112.3K | |
YoY Change | |||
% of Gross Profit | 29.0% | 37.11% | |
Operating Expenses | $251.5K | $226.5K | |
YoY Change | -64.56% | ||
Operating Profit | $628.4K | $76.00K | |
YoY Change | -106.89% | ||
Interest Expense | -$34.20K | $50.77K | |
YoY Change | -38.5% | ||
% of Operating Profit | -5.44% | 66.8% | |
Other Income/Expense, Net | -$8.080K | -$64.17K | |
YoY Change | -25.38% | ||
Pretax Income | $1.048M | $11.82K | |
YoY Change | -100.99% | ||
Income Tax | $3.360K | -$166.00 | |
% Of Pretax Income | 0.32% | -1.4% | |
Net Earnings | $1.045M | $11.99K | |
YoY Change | -101.01% | ||
Net Earnings / Revenue | 37.62% | 0.61% | |
Basic Earnings Per Share | $0.00 | ||
Diluted Earnings Per Share | $0.03 | $0.00 | |
COMMON SHARES | |||
Basic Shares Outstanding | 40.98M shares | 40.98M shares | |
Diluted Shares Outstanding | 40.98M shares |
Balance Sheet
Concept | 2022 Q4 | 2022 Q3 | 2021 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $51.42K | $160.1K | |
YoY Change | |||
Cash & Equivalents | $2.163M | $302.0K | $50.50K |
Short-Term Investments | |||
Other Short-Term Assets | $234.2K | $217.1K | $246.0K |
YoY Change | -4.77% | ||
Inventory | $1.338M | $464.1K | $478.7K |
Prepaid Expenses | |||
Receivables | $4.666M | $3.264M | |
Other Receivables | $0.00 | $0.00 | |
Total Short-Term Assets | $9.852M | $6.889M | $7.245M |
YoY Change | 35.98% | ||
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $6.800M | $4.595M | $5.421M |
YoY Change | 25.43% | ||
Goodwill | |||
YoY Change | |||
Intangibles | $2.103M | $2.050M | $2.332M |
YoY Change | -9.79% | ||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $8.903M | $6.645M | $7.753M |
YoY Change | 14.84% | ||
TOTAL ASSETS | |||
Total Short-Term Assets | $9.852M | $6.889M | $7.245M |
Total Long-Term Assets | $8.903M | $6.645M | $7.753M |
Total Assets | $18.75M | $13.53M | $15.00M |
YoY Change | 25.05% | ||
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $10.72M | $4.711M | |
YoY Change | |||
Accrued Expenses | $38.14K | $648.0K | $822.0K |
YoY Change | -95.36% | ||
Deferred Revenue | $213.1K | $509.2K | $574.0K |
YoY Change | -62.88% | ||
Short-Term Debt | $2.404M | $3.212M | $3.025M |
YoY Change | -20.51% | ||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $17.93M | $10.16M | $14.94M |
YoY Change | 20.0% | ||
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | |
YoY Change | |||
Other Long-Term Liabilities | $3.624M | ||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $3.624M | |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $17.93M | $10.16M | $14.94M |
Total Long-Term Liabilities | $0.00 | $3.624M | |
Total Liabilities | $17.93M | $13.79M | $14.94M |
YoY Change | 20.0% | ||
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$1.820M | -$2.865M | -$2.577M |
YoY Change | -29.39% | ||
Common Stock | $40.98K | $40.98K | $40.98K |
YoY Change | 0.0% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $823.9K | -$255.6K | $54.91K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $18.75M | $13.53M | $15.00M |
YoY Change | 25.05% |
Cashflow Statement
Concept | 2022 Q4 | 2022 Q3 | 2021 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $1.045M | $11.99K | |
YoY Change | -101.01% | ||
Depreciation, Depletion And Amortization | $255.1K | $112.3K | |
YoY Change | |||
Cash From Operating Activities | $921.6K | $511.7K | |
YoY Change | |||
INVESTING ACTIVITIES | |||
Capital Expenditures | $2.397M | $71.48K | |
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$490.00 | $1.620K | |
YoY Change | |||
Cash From Investing Activities | -$2.398M | -$69.85K | |
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 1.868M | 14.49K | |
YoY Change | |||
NET CHANGE | |||
Cash From Operating Activities | 921.6K | 511.7K | |
Cash From Investing Activities | -2.398M | -69.85K | |
Cash From Financing Activities | 1.868M | 14.49K | |
Net Change In Cash | 392.1K | 456.4K | |
YoY Change | |||
FREE CASH FLOW | |||
Cash From Operating Activities | $921.6K | $511.7K | |
Capital Expenditures | $2.397M | $71.48K | |
Free Cash Flow | -$1.476M | $440.2K | |
YoY Change |
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|
607451 | usd | |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
589464 | usd | |
CY2021Q3 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
239750 | usd |
us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
239750 | usd | |
CY2022Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
226529 | usd |
CY2021Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
639125 | usd |
us-gaap |
Operating Expenses
OperatingExpenses
|
734249 | usd | |
us-gaap |
Operating Expenses
OperatingExpenses
|
997264 | usd | |
CY2022Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
75995 | usd |
CY2021Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1103289 | usd |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-115621 | usd | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1856744 | usd | |
CY2022Q3 | us-gaap |
Interest Expense
InterestExpense
|
50765 | usd |
CY2021Q3 | us-gaap |
Interest Expense
InterestExpense
|
82550 | usd |
us-gaap |
Interest Expense
InterestExpense
|
153333 | usd | |
us-gaap |
Interest Expense
InterestExpense
|
168576 | usd | |
CY2022Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-13406 | usd |
CY2021Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-3446 | usd |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-11084 | usd | |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-13678 | usd | |
CY2022Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-64171 | usd |
CY2021Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-85996 | usd |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-164417 | usd | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-182254 | usd | |
CY2022Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
11824 | usd |
CY2021Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-1189285 | usd |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-280038 | usd | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-2038998 | usd | |
CY2022Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-166 | usd |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
7672 | usd | |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
11990 | usd |
CY2021Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1189285 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-287710 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-2038998 | usd | |
CY2022Q3 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
|
-13241 | usd |
CY2021Q3 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
|
98286 | usd |
us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
|
-22754 | usd | |
us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
|
105349 | usd | |
CY2022Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-1251 | usd |
CY2021Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-1090999 | usd |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-310464 | usd | |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-1933649 | usd | |
CY2022Q3 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.00 | |
CY2021Q3 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.03 | |
us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.01 | ||
us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.05 | ||
CY2022Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
40976458 | shares |
CY2021Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
40976458 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
40976458 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
40139267 | shares | |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
628952 | usd |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
1090000 | usd | |
us-gaap |
Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
|
239750 | usd | |
us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
1111395 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-2038998 | usd | |
us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
|
105349 | usd | |
CY2021Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1136448 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
54905 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-287710 | usd | |
us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
|
-22754 | usd | |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-255559 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-287710 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-2038998 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
405638 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
532751 | usd | |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
239750 | usd | |
us-gaap |
Inventory Write Down
InventoryWriteDown
|
2813 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-119886 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
|
418932 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
|
29436 | usd | |
RLI |
Increase Decrease In Prepaid Supplies Related Pary
IncreaseDecreaseInPrepaidSuppliesRelatedPary
|
-402298 | usd | |
RLI |
Increase Decrease In Prepaid Supplies Related Pary
IncreaseDecreaseInPrepaidSuppliesRelatedPary
|
2832552 | usd | |
us-gaap |
Increase Decrease In Prepaid Supplies
IncreaseDecreaseInPrepaidSupplies
|
218416 | usd | |
us-gaap |
Increase Decrease In Prepaid Supplies
IncreaseDecreaseInPrepaidSupplies
|
-2774139 | usd | |
us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
-53742 | usd | |
us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
175346 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
39282 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
49320 | usd | |
us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
20920 | usd | |
us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
-44871 | usd | |
us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-24731 | usd | |
us-gaap |
Increase Decrease In Notes Payable Current
IncreaseDecreaseInNotesPayableCurrent
|
55095 | usd | |
us-gaap |
Increase Decrease In Notes Payable Current
IncreaseDecreaseInNotesPayableCurrent
|
264612 | usd | |
us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
145592 | usd | |
us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
-169920 | usd | |
us-gaap |
Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
|
211943 | usd | |
us-gaap |
Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
|
2113175 | usd | |
us-gaap |
Increase Decrease In Due To Other Related Parties
IncreaseDecreaseInDueToOtherRelatedParties
|
145322 | usd | |
us-gaap |
Increase Decrease In Payables To Customers
IncreaseDecreaseInPayablesToCustomers
|
-3640 | usd | |
us-gaap |
Increase Decrease In Payables To Customers
IncreaseDecreaseInPayablesToCustomers
|
115224 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-92122 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
246159 | usd | |
us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
137446 | usd | |
us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
-40672 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
330733 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
1287189 | usd | |
us-gaap |
Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
|
27900 | usd | |
us-gaap |
Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
|
75325 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
107465 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1993712 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-182790 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-2021612 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
1090000 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
339132 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
177757 | usd | |
us-gaap |
Proceeds From Short Term Debt
ProceedsFromShortTermDebt
|
96416 | usd | |
us-gaap |
Proceeds From Short Term Debt
ProceedsFromShortTermDebt
|
772857 | usd | |
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
71257 | usd | |
us-gaap |
Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
|
327449 | usd | |
us-gaap |
Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
|
911972 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
36843 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
1128642 | usd | |
us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-95661 | usd | |
us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-14633 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
89124 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
379586 | usd | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
716534 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
8508 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
805659 | usd |
CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
388094 | usd |
us-gaap |
Interest Paid
InterestPaid
|
96764 | usd | |
us-gaap |
Interest Paid
InterestPaid
|
127977 | usd | |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
3938 | usd | |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
11139 | usd | |
us-gaap |
Stock Issued1
StockIssued1
|
1111395 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-287710 | usd | |
CY2022Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-2864848 | usd |
CY2022Q3 | RLI |
Negative Working Capital
NegativeWorkingCapital
|
3275802 | usd |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_845_eus-gaap--UseOfEstimates_zbKrjt4eBqfh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline"><span id="xdx_863_zBom3vx7aDw6">Use of Estimates</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates. Signiant estimates are used in the collectability of accounts receivable, the useful lives and impairment of property and equipment, the valuation of deferred tax assets, inventories reserve and provisions for income taxes, among others.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
us-gaap |
Revenue Recognition Revenue Reductions
RevenueRecognitionRevenueReductions
|
<p id="xdx_843_eus-gaap--RevenueRecognitionRevenueReductions_zFbHn1vKhgw1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline"><span id="xdx_86F_zaTSVwFMCg75">Revenue Recognition</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company early adopted Accounting Standards Update (“ASU”) 2014-09, Accounting Standards Codification Topic 606, <i>Revenue from Contracts with Customers</i> (ASC 606) since its inception (i.e. July 2019), which is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. ASC 606 creates a five-step model that requires entities to exercise judgment when considering the terms of contracts, which includes (1) identifying the contracts or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company applies the five-step model to sales contracts.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s revenue mainly generated from selling the synthetic rubber, rubber compound, car window seals, auto parts under two models of supply. The Company has disaggregated revenue at the sales channels through direct supply model and indirect supply model.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Model A: Direct supply model. Upon passing the on-site inspections of automobile Original Equipment Manufacturers (the “OEMs”), RLSP is listed at the OEMs’ directories being one of their first-tier suppliers who will purchase raw materials, produce final products independently, and deliver finished products to the OEMs’ warehouses directly. RLSP satisfies its performance obligation when its finished products are delivered to the OEMs’ warehouses and a follow-up quality inspection is accepted by the OEMs. Meanwhile, the OEMs will also request product replacement for disqualified products. The ownership and control of our finished products are transferred to our customers as soon as the products passed the inspection and acceptance into the warehouses of the OEMs. Our revenue will be recognized once the control of our products has been transferred to our customers, and the payments will be paid by the OEMs directly.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Model B: Indirect supply model. RLSP received the purchase orders from our related parties-Shanghai Xinsen Import & Export Co., Ltd (“Shanghai Xinsen”) and Xinsen Sealing Products (Hangzhou) Co., Ltd (“Hangzhou Xinsen”) (collectively named as “Xinsen Group” for two companies together). The Company’s President, Ms. Xingxiu Hua, holds <span id="xdx_90B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_c20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ShanghaiXinsenImportAndExportCoLtdMember__srt--TitleOfIndividualAxis__custom--XingxiuHuaMember_zDhbStDPQ5la" title="Ownership percentage">90%</span> ownership of Shanghai Xinsen and Shanghai Xinsen holds <span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_c20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XinsenSealingProductsHangzhouCoLtdMember__srt--TitleOfIndividualAxis__custom--ShanghaiXinsenMember_zyfOSj3NZTli" title="Ownership percentage">70%</span> ownership of Hangzhou Xinsen, or Ms. Hua owns <span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_c20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XinsenSealingProductsHangzhouCoLtdMember__srt--TitleOfIndividualAxis__custom--HuaMember_zXzPRZS6EsTe" title="Ownership percentage">63%</span> ownership of Hangzhou Xinsen, respectively. <span id="xdx_900_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20220101__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XinsenSealingProductsHangzhouCoLtdMember_zqTmOacO5fti" title="Ownership percentage description">Effective on October 1, 2022, Ms. Hua reduced her ownership of Shanghai Xinsen from 90% to 15%, and so accordingly reduced her indirect ownership of Hangzhou Xinsen from 63% to 10.5%.</span> Branded Automobile Manufacturers (the “Auto Manufacturers”) send a lump sum purchase orders of the whole vehicle rubber and plastic auto parts of one model to their first-tier suppliers, who then subcontract rubber and plastic seals to Xinsen Group. Xinsen Group is a certified second-tier supplier of Auto Manufacturers who then subcontracts some products that they do not have capability to manufacture to RLSP. Once purchase orders are received, RLSP will purchase rubber materials from our venders and outsourced the purchase orders to third party manufacturer for work-in-process products (“WIP”) or finished products in its entirely based on management’s decision under the operating circumstances. RLSP has two forms of outsourced processing under Model B:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">RLSP purchases raw materials and subcontracts the third-party manufacturers to produce WIP. Once WIP is finished and delivered to RLSP’s warehouse, RLSP performs some manual processes, such as welding and constructing in order to meet the specification of the purchase orders, the final products are concluded after strict quality inspection.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">RLSP purchases raw materials and subcontracts third party manufacturers to produce finished products. RLSP will perform the responsibilities to trace and observe each step of production from the third-party manufacturers.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The finished products will be delivered to the first-tier suppliers’ warehouses, the downstream customers of Xinsen Group either from RLSP or third-party manufacturers’ locations. Xinsen Group will assign inspectors and perform quality inspection when the finished products are delivered. RLSP satisfies its performance obligation when the finished products are delivered to Xinsen Group’s customers and the quality inspection is qualified performed by Xinsen Group. Meanwhile, Xinsen Group will also request product replacement for disqualified products. Once the quality and quantity are confirmed and finished products are acceptable into the warehouses of Xinsen Group’s customers, receiving notes will be provided by Xinsen Group’s customers, then to RLSP as proof of delivery. The date of receiving notes signed is the time that RLSP transfers ownership and control of the finished products under model B to Xinsen Group then indirectly to the first-tier suppliers. RLSP recognizes revenue on the dates when receiving notes are signed by Xinsen Group’s customers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under both supply models, payment of products is generally made within a 30-day term upon receiving notes signed by our customers. Extended payment terms are provided on a limited basis not to exceed two months. After customer receives the finished products, if the customer finds quality problems before installing them to the vehicles, the customer is able to inform RLSP and request replacement for the same type products. Since November 2021, RLSP has terminated warranty assurance to our customers due to the characteristics of our products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_84B_eus-gaap--ConcentrationRiskCreditRisk_zzsLEbEczTFl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline"><span id="xdx_861_zNYZKxBm3nOg">Concentration risk</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains cash with banks in the United States of America (“USA”) and PRC. Should any bank holding cash become insolvent, or if the Company is otherwise unable to withdraw funds, the Company would lose the cash with that bank; however, the Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank accounts. In China, a depositor has up to RMB<span id="xdx_90B_ecustom--CashFSDInsuredAmount_iI_uRMB_c20220930_zFHJe1BnBJY" title="FSD insured amonut">500,000</span> insured by the People’s Bank of China Financial Stability Bureau (“FSD”). In the United States, the standard insurance amount is $<span id="xdx_904_eus-gaap--CashFDICInsuredAmount_iI_c20220930_zweYIoswpBzc" title="FDIC insured amount">250,000</span> per depositor in a bank insured by the Federal Deposit Insurance Corporation (“FDIC”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to significant concentrations of credit risk are cash and cash equivalents and accounts receivable. As of September 30, 2022 and December 31, 2021, $<span id="xdx_90C_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_iI_c20220930_zXOkbQFiRZIe" title="Cash and restricted cash">734,525</span> and $<span id="xdx_90A_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_iI_c20211231_z5bphpAse866" title="Cash and restricted cash">557,469</span> of the Company’s cash and restricted cash held by financial institutions were uninsured, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Major customers</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_eus-gaap--SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_gL3SOCORBRFTB-TSN_zD28RVGTI4W2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three months ended September 30, 2022 and 2021, as well as nine months ended September 30, 2022 and 2021 the Company’s revenues from two major customers accounted more than 10% of the total revenue were as following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BA_zImeUp5B1xCh" style="display: none">Schedule of Concentration Risk Percent</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Nine months ended <br/>September 30, 2022</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Three months ended <br/>September 30, 2022</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Nine months ended <br/>September 30, 2021</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Three months ended <br/>September 30, 2021</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Amount</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">% of Total Revenue</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Amount</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">% of Total Revenue</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Amount</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">% of Total Revenue</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Amount</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">% of Total Revenue</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Customer B</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_987_eus-gaap--Revenues_c20220101__20220930__srt--MajorCustomersAxis__custom--CustomerBMember_z0i00KbbfJK8" style="width: 5%; text-align: right" title="Revenues"><span style="font-family: Times New Roman, Times, Serif">4,229,247</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_z1E1d8tlBDd1" style="width: 5%; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">54</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_981_eus-gaap--Revenues_c20220701__20220930__srt--MajorCustomersAxis__custom--CustomerBMember_z4houbBcsCec" style="width: 5%; text-align: right" title="Revenues"><span style="font-family: Times New Roman, Times, Serif">510,034</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98A_eus-gaap--ConcentrationRiskPercentage1_dp_c20220701__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zcdW0Mq5WWW8" style="width: 5%; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">26</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98F_eus-gaap--Revenues_c20210101__20210930__srt--MajorCustomersAxis__custom--CustomerBMember_zkUwIXc5iPnl" style="width: 5%; text-align: right" title="Revenues"><span style="font-family: Times New Roman, Times, Serif">10,083,049</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_c20210101__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zayHhdWUh1cb" style="width: 5%; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">87</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_982_eus-gaap--Revenues_c20210701__20210930__srt--MajorCustomersAxis__custom--CustomerBMember_zs2m5oa0N08h" style="width: 5%; text-align: right" title="Revenues"><span style="font-family: Times New Roman, Times, Serif">2,933,767</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_dp_c20210701__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zYNd4Ttkdfzd" style="width: 5%; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">86</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Customer A</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98E_eus-gaap--Revenues_c20220101__20220930__srt--MajorCustomersAxis__custom--CustomerAMember_z1mjPDheHgqi" style="text-align: right" title="Revenues"><span style="font-family: Times New Roman, Times, Serif">3,641,039</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zLMvJ8uQsDW4" style="text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">46</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_984_eus-gaap--Revenues_c20220701__20220930__srt--MajorCustomersAxis__custom--CustomerAMember_zlSD17FTivS3" style="text-align: right" title="Revenues"><span style="font-family: Times New Roman, Times, Serif">1,443,070</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_989_eus-gaap--ConcentrationRiskPercentage1_dp_c20220701__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_z2Uljecdale1" style="text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">74</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_988_eus-gaap--Revenues_c20210101__20210930__srt--MajorCustomersAxis__custom--CustomerAMember_zo7ofSCI2262" style="text-align: right" title="Revenues"><span style="font-family: Times New Roman, Times, Serif">1,446,841</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_dp_c20210101__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_z897jZnvflSh" style="text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">13</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_980_eus-gaap--Revenues_c20210701__20210930__srt--MajorCustomersAxis__custom--CustomerAMember_zoqm2WNZ3NM5" style="text-align: right" title="Revenues"><span style="font-family: Times New Roman, Times, Serif">478,040</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_983_eus-gaap--ConcentrationRiskPercentage1_dp_c20210701__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zZK5UQjZf6Nj" style="text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">14</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 75%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">As of <br/>September 30, 2022</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">As of <br/>September 30, 2021</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Accounts Receivable</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">% of Total Accounts Receivable</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Accounts Receivable</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">% of Total Accounts Receivable</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Customer B</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98B_eus-gaap--AccountsReceivableNetCurrent_iI_c20220930__srt--MajorCustomersAxis__custom--CustomerAMember_zt8ZbOgXUOS4" style="width: 12%; text-align: right" title="Accounts receivable"><span style="font-family: Times New Roman, Times, Serif">2,997,351</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98A_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zt3k8uWihNJ5" style="width: 12%; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">100</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_987_eus-gaap--AccountsReceivableNetCurrent_iI_c20210930__srt--MajorCustomersAxis__custom--CustomerAMember_zuAe5Mhq7zWc" style="width: 12%; text-align: right" title="Accounts receivable"><span style="font-family: Times New Roman, Times, Serif">2,653,544</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_c20210101__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zl33IDhtxAee" style="width: 12%; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">100</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Customer A</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Customer A: eGT New Energy Automotive Co., Ltd. (“eGT” ), an unrelated party.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Customer B: Shanghai Xinsen Import & Export Co., Ltd (“Shanghai Xinsen”), a related party that sells RLSP’s products to Shanghai Hongyang Sealing Co., Ltd. (“Shanghai Hongyang”) and Wuhu Huichi Auto Parts Co., Ltd. (“Wuhu Huichi”), two unrelated parties of RLSP and the Company, and certified first-tier suppliers of Auto Manufacturers.</span></td></tr> </table> <p id="xdx_8A3_zDaK4gpjoGZj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Major vendors</i></span></p> <div id="xdx_C04_gL3SOCORBRFTB-TSN_z4kl7r4swzDk"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span>For the three months ended September 30, 2022 and 2021, as well as nine months ended September 30, 2022 and 2021, the Company made purchases from the major vendors accounted more than 10% of the total purchases were as following:</span></span></p> <div><div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Nine months ended <br/>September 30, 2022</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Three months ended <br/>September 30, 2022</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Nine months ended <br/>September 30, 2021</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Three months ended <br/>September 30, 2021</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Amount</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">% of Total Purchase</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Amount</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">% of Total Purchase</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Amount</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">% of Total Purchase</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Amount</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">% of Total Purchase</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Vendor A</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_982_eus-gaap--CostOfGoodsAndServicesSold_c20220101__20220930__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_z7DKSuCo6r4f" style="width: 5%; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif">4,317,141</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zq4rgzXJeLme" style="width: 5%; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">71</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_989_eus-gaap--CostOfGoodsAndServicesSold_c20220701__20220930__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zYORBRPojO88" style="width: 5%; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif">523,970</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_984_eus-gaap--ConcentrationRiskPercentage1_dp_c20220701__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zbUQgxQSgrGb" style="width: 5%; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">48</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_987_eus-gaap--CostOfGoodsAndServicesSold_c20210101__20210930__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_z337JLs3ZSLb" style="width: 5%; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif">11,152,785</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_986_eus-gaap--ConcentrationRiskPercentage1_dp_c20210101__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zGC9N8REuiXl" style="width: 5%; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">95</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98D_eus-gaap--CostOfGoodsAndServicesSold_c20210701__20210930__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zbr6nZ7LE4jf" style="width: 5%; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif">3,697,640</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_dp_c20210701__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zGmBweiJHcBi" style="width: 5%; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">88</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Vendor B</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98D_eus-gaap--CostOfGoodsAndServicesSold_c20220101__20220930__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zLxLgFe5P2d1" style="text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif">79,091</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zB6reU0mTHg" style="text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">1</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Vendor C</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98C_eus-gaap--CostOfGoodsAndServicesSold_c20220101__20220930__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zKYKPOxoPZo5" style="text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif">1,685,360</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_984_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zr9rbQPk7pxg" style="text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">28</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_989_eus-gaap--CostOfGoodsAndServicesSold_c20220701__20220930__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_z295G5uuDwvg" style="text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif">557,569</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_981_eus-gaap--ConcentrationRiskPercentage1_dp_c20220701__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zN162MHwZzc1" style="text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">52</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98F_eus-gaap--CostOfGoodsAndServicesSold_c20210101__20210930__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zzza9zR61vlc" style="text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif">597,735</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_dp_c20210101__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zKgKcqilSzt4" style="text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">5</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_983_eus-gaap--CostOfGoodsAndServicesSold_c20210701__20210930__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zJpUIFcxZBaa" style="text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif">512,215</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_dp_c20210701__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zJYqSRFMAVd4" style="text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">12</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 75%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">As of <br/>September 30, 2022</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">As of <br/>September 30, 2021</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Accounts payable</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">% of Total Accounts Payable</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Accounts payable</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">% of Total Accounts Payable</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Vendor A</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90F_eus-gaap--AccountsPayableCurrent_iI_c20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_z5FJYtyge0D" title="Accounts payable">1,330,458</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98C_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zS3rGg7ZOokb" style="width: 12%; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">17</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90D_eus-gaap--AccountsPayableCurrent_iI_c20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_z02ZwUUO4fo8" title="Accounts payable">586,036</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98C_eus-gaap--ConcentrationRiskPercentage1_dp_c20210101__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zKSqNIVV3nJj" style="width: 12%; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">8</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Vendor B</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_908_eus-gaap--AccountsPayableCurrent_iI_c20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zr1EaZTtVKX9" title="Accounts payable">6,399,960</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zT3GINmnEb3" style="text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">83</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_906_eus-gaap--AccountsPayableCurrent_iI_c20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_z6d5dIyN0vH2" title="Accounts payable">6,186,198</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--ConcentrationRiskPercentage1_dp_c20210101__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_z1C5QJFspwy5" style="text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif">80</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Vendor C</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vendor A: Shanghai Haozong Rubber & Plastic Technology Co., Ltd. (“Shanghai Haozong”), a related party. </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vendor B: Shanghai Huaxin Economic and Trade Co., Ltd. (“Shanghai Huaxin”), a related party, purchase amounts and accounts payable balances include retainage payables. </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vendor C: Shanghai Yongliansen Import and Export Trading Company (“Yongliansen”), a related party.</span></td></tr> </table> </div></div></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_C01_gL3SOCORBRFTB-TSN_zMGugHLuisE3"> </span></span></p> | ||
CY2022Q3 | RLI |
Cash Fsd Insured Amount
CashFSDInsuredAmount
|
500000 | |
CY2022Q3 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
CY2022Q3 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
734525 | usd |
CY2021Q4 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
557469 | usd |
us-gaap |
Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
|
0 | usd | |
CY2022Q3 | us-gaap |
Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
|
0 | usd |
us-gaap |
Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
|
0 | usd | |
CY2021Q3 | us-gaap |
Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
|
0 | usd |
CY2022Q3 | us-gaap |
Notes Payable
NotesPayable
|
645569 | |
CY2021Q4 | us-gaap |
Notes Payable
NotesPayable
|
665377 | |
RLI |
Retainage Payable Description
RetainagePayableDescription
|
For equipment purchased from Shanghai Huaxin in the PRC, a related party, by RLSP in the PRC, the Company typically retains a portion of the purchase invoices, typically 3-5%, for 12 to 24 months to ensure the quality of equipment after installation during the qualifying warranty period. | ||
CY2022Q3 | RLI |
Retainage Payable
RetainagePayable
|
648019 | usd |
CY2021Q4 | RLI |
Retainage Payable
RetainagePayable
|
821962 | usd |
us-gaap |
Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
|
0.21 | pure | |
us-gaap |
Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
|
0.25 | pure | |
CY2020Q4 | us-gaap |
Foreign Currency Exchange Rate Remeasurement1
ForeignCurrencyExchangeRateRemeasurement1
|
0.1504 | pure |
CY2021Q2 | us-gaap |
Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
|
300000 | |
RLI |
Value Added Tax Rate
ValueAddedTaxRate
|
0.13 | pure | |
CY2020Q4 | us-gaap |
Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
|
2064554 | usd |
CY2020Q4 | us-gaap |
Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
|
13729900 | |
CY2022Q3 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
63688 | usd |
CY2021Q4 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
29246 | usd |
CY2022Q3 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
400410 | usd |
CY2021Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
449432 | usd |
CY2022Q3 | us-gaap |
Inventory Net
InventoryNet
|
464098 | usd |
CY2021Q4 | us-gaap |
Inventory Net
InventoryNet
|
478678 | usd |
CY2022Q3 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
532366 | usd |
CY2022Q3 | us-gaap |
Machinery And Equipment Gross
MachineryAndEquipmentGross
|
5461715 | usd |
CY2021Q4 | us-gaap |
Machinery And Equipment Gross
MachineryAndEquipmentGross
|
5919317 | usd |
CY2022Q3 | us-gaap |
Furniture And Fixtures Gross
FurnitureAndFixturesGross
|
22580 | usd |
CY2021Q4 | us-gaap |
Furniture And Fixtures Gross
FurnitureAndFixturesGross
|
25286 | usd |
CY2022Q3 | us-gaap |
Leasehold Improvements Gross
LeaseholdImprovementsGross
|
75287 | usd |
CY2021Q4 | us-gaap |
Leasehold Improvements Gross
LeaseholdImprovementsGross
|
132604 | usd |
CY2022Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1272852 | usd |
CY2021Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
937027 | usd |
CY2022Q3 | RLI |
Plant And Equipment Gross
PlantAndEquipmentGross
|
4286730 | usd |
CY2021Q4 | RLI |
Plant And Equipment Gross
PlantAndEquipmentGross
|
5140181 | usd |
CY2022Q3 | us-gaap |
Construction In Progress Gross
ConstructionInProgressGross
|
307889 | usd |
CY2021Q4 | us-gaap |
Construction In Progress Gross
ConstructionInProgressGross
|
280914 | usd |
CY2022Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
4594618 | usd |
CY2021Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
5421095 | usd |
us-gaap |
Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
|
371332 | usd | |
us-gaap |
Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
|
512147 | usd | |
CY2022Q3 | us-gaap |
Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
|
110362 | usd |
CY2021Q3 | us-gaap |
Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
|
148475 | usd |
CY2022Q3 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
2134113 | usd |
CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
2389920 | usd |
CY2022Q3 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
84063 | usd |
CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
58291 | usd |
CY2022Q3 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
2050049 | usd |
CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
2331629 | usd |
us-gaap |
Related Party Transaction Description Of Transaction
RelatedPartyTransactionDescriptionOfTransaction
|
The Deposit bears no interest and due on demand. Due to less procurement of raw materials made from Yongliansen in 2022 and to purchase for the remaining year as planned, RLSP requested Yongliansen to refund the RMB 15 million ($2,108,667 as of September 30, 2022) and Yongliansen has agreed to fully refund us by December 31, 2022. | ||
us-gaap |
Nature Of Common Ownership Or Management Control Relationships
NatureOfCommonOwnershipOrManagementControlRelationships
|
Effective on October 1, 2022, Ms. Hua reduced her ownership of Shanghai Xinsen from 90% to 15%, and so accordingly reduced her indirect ownership of Hangzhou Xinsen from 63% to 10.5%. Xinsen Group is a rubber product trading expert with 20 years of experience in the auto parts market, who charges 1% of the total sales amount before VAT tax as sales commission. Sales commission incurred in each period is recorded as part of selling expense of the Company. | ||
CY2019Q3 | RLI |
Registered Capital
RegisteredCapital
|
20000000 | usd |
CY2022Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
301990 | usd |
CY2021Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
50500 | usd |
CY2021Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2021Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
40000000 | shares |
CY2021Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2021Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
40000000 | shares |
CY2021Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
55000 | shares |
CY2021Q2 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
2.5 | |
CY2021Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
381000 | shares |
CY2021Q3 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
2.5 | |
CY2021Q4 | us-gaap |
Common Stock Share Subscribed But Unissued Subscriptions Receivable
CommonStockShareSubscribedButUnissuedSubscriptionsReceivable
|
1090000 | usd |
CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
|
5000000 | shares |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
295900 | shares |
CY2021 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
239750 | usd |
CY2021Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
444558 | shares |
CY2021Q3 | us-gaap |
Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
|
1111395 | usd |
CY2021Q2 | us-gaap |
Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
|
46454 | usd |
CY2021Q2 | us-gaap |
Lease Deposit Liability
LeaseDepositLiability
|
58855 | usd |
CY2021Q2 | us-gaap |
Lease Deposit Liability
LeaseDepositLiability
|
380000 | |
us-gaap |
Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
|
0.21 | pure | |
us-gaap |
Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
|
0.25 | pure | |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
7672 | usd | |
CY2022Q3 | us-gaap |
Accrued Income Taxes
AccruedIncomeTaxes
|
237670 | usd |
CY2021Q4 | us-gaap |
Accrued Income Taxes
AccruedIncomeTaxes
|
229579 | usd |
us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | pure | |
us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | pure | |
us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
0.040 | pure | |
us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
0.040 | pure | |
us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.233 | pure | |
us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.250 | pure | |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.017 | pure | |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-0.000 | pure | |
us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
2 | segment | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-115621 | usd | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1856744 | usd | |
CY2022Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
75995 | usd |
CY2021Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1103289 | usd |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-115621 | usd | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1856744 | usd | |
CY2022Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
75995 | usd |
CY2021Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1103289 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-287710 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-2038998 | usd | |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
11990 | usd |
CY2021Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1189285 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-287710 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-2038998 | usd | |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
11990 | usd |
CY2021Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1189285 | usd |
CY2022Q3 | us-gaap |
Assets
Assets
|
13533534 | usd |
CY2021Q4 | us-gaap |
Assets
Assets
|
14997772 | usd |
CY2022Q3 | us-gaap |
Assets
Assets
|
13533534 | usd |
CY2021Q4 | us-gaap |
Assets
Assets
|
14997772 | usd |