2023 Q2 Form 10-Q Financial Statement

#000149315223017262 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $2.281M $2.346M $3.735M
YoY Change 4.5% -37.2%
Cost Of Revenue $2.035M $2.278M $3.511M
YoY Change -2.64% -35.11%
Gross Profit $245.8K $67.12K $223.6K
YoY Change 165.88% -69.99%
Gross Profit Margin 10.78% 2.86% 5.99%
Selling, General & Admin $193.9K $241.8K $245.5K
YoY Change -26.05% -1.51%
% of Gross Profit 78.88% 360.21% 109.77%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $126.7K $131.1K $142.7K
YoY Change -56.82% -8.14%
% of Gross Profit 51.53% 195.35% 63.83%
Operating Expenses $193.9K $241.8K $245.5K
YoY Change -26.05% -1.51%
Operating Profit $51.92K -$174.7K -$21.85K
YoY Change -130.58% 699.46%
Interest Expense $68.26K $40.20K $47.00K
YoY Change 22.82% -14.47%
% of Operating Profit 131.47%
Other Income/Expense, Net -$80.56K -$15.61K -$46.84K
YoY Change 50.83% -66.68%
Pretax Income -$28.64K -$190.3K -$68.68K
YoY Change -87.17% 177.02%
Income Tax $7.254K $9.055K $8.038K
% Of Pretax Income
Net Earnings -$35.89K -$199.3K -$76.72K
YoY Change -83.9% 159.8%
Net Earnings / Revenue -1.57% -8.5% -2.05%
Basic Earnings Per Share $0.00 $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 40.98M shares 40.98M shares 40.98M shares
Diluted Shares Outstanding 41.01M shares 40.98M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.100K
YoY Change
Cash & Equivalents $16.94K $654.4K $823.1K
Short-Term Investments
Other Short-Term Assets $315.0K $342.8K
YoY Change -89.11%
Inventory $1.733M $1.679M
Prepaid Expenses
Receivables $3.344M
Other Receivables $0.00
Total Short-Term Assets $8.382M $8.279M
YoY Change 10.9%
LONG-TERM ASSETS
Property, Plant & Equipment $8.110M $7.723M
YoY Change 63.75%
Goodwill
YoY Change
Intangibles $1.980M $2.101M
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $10.09M $9.825M
YoY Change 41.29%
TOTAL ASSETS
Total Short-Term Assets $8.382M $8.279M
Total Long-Term Assets $10.09M $9.825M
Total Assets $18.47M $18.10M
YoY Change 25.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.49M
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue $381.1K $361.5K
YoY Change
Short-Term Debt $2.609M $2.866M
YoY Change -19.66%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $17.65M $17.47M
YoY Change 83.68%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $17.65M $17.47M
Total Long-Term Liabilities $0.00
Total Liabilities $17.65M $17.47M
YoY Change 18.06%
SHAREHOLDERS EQUITY
Retained Earnings -$2.055M -$2.019M
YoY Change
Common Stock $41.10K $40.98K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $817.2K $638.5K -$22.35K
YoY Change
Total Liabilities & Shareholders Equity $18.47M $18.10M
YoY Change 25.66%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$35.89K -$199.3K -$76.72K
YoY Change -83.9% 159.8%
Depreciation, Depletion And Amortization $126.7K $131.1K $142.7K
YoY Change -56.82% -8.14%
Cash From Operating Activities -$1.078M $67.48K
YoY Change -1697.8%
INVESTING ACTIVITIES
Capital Expenditures $24.02K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$24.02K -$15.95K
YoY Change 50.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $384.3K $54.40K
YoY Change 606.49%
NET CHANGE
Cash From Operating Activities -$1.078M $67.48K
Cash From Investing Activities -$24.02K -$15.95K
Cash From Financing Activities $384.3K $54.40K
Net Change In Cash -$715.1K $104.6K
YoY Change -783.57%
FREE CASH FLOW
Cash From Operating Activities -$1.078M $67.48K
Capital Expenditures $24.02K
Free Cash Flow -$1.102M
YoY Change

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CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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-1308 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-715126 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
104616 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1369557 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
718533 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
654431 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
823149 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
40215 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
35517 usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
6910 usd
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
8038 usd
CY2023Q1 RUBL Construction In Progress Additions
ConstructionInProgressAdditions
993565 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-199320 usd
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2019077 usd
CY2023Q1 RUBL Working Capital Deficit
WorkingCapitalDeficit
-9186004 usd
CY2023Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_84B_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zKTPqmGUxPkf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span id="xdx_863_zpTwPd0nz4P4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Reclassifications</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain amounts on the prior year’s consolidated balance sheets, consolidated statements of operations and cash flows were reclassified to conform to current-year presentation, with no effect on ending stockholders’ equity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_849_eus-gaap--UseOfEstimates_zCZw17d0Oull" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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_860_zPbnDuFGzH61">Use of Estimates</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84C_eus-gaap--ConcentrationRiskCreditRisk_zyOMV1RNDtO9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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_zWvgOp8KcJzk">Concentration risk</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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_900_ecustom--CashFSDInsuredAmount_iI_uRMB_c20230331_zROU3Rym5l6j" 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_90A_eus-gaap--CashFDICInsuredAmount_iI_c20230331_zQYtdSazLvQ4" 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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 March 31, 2023 and December 31, 2022, $<span id="xdx_907_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_iI_c20230331_zNNEhRdrFphe" title="Cash and restricted cash">819,670</span> and $<span id="xdx_904_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_iI_c20221231_zsiwu7eIb2Ec" title="Cash and restricted cash">1,240,272</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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_891_eus-gaap--SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_zjeGvyf8EbWh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three months ended March 31, 2023 and 2022, 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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zlVLdUzKVRB" style="display: none">Schedule of Concentration Risk Percent</span> </span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></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"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">Three months ended March 31, 2023</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of <br/> March 31, 2023</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">Three months ended March 31, 2022</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of <br/> March 31, 2022</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Amount</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of Total Revenue</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts Receivable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of Total Accounts Receivable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Amount</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of Total Revenue</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts Receivable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of Total Accounts Receivable</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left">Customer B</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--Revenues_c20230101__20230331__srt--MajorCustomersAxis__custom--CustomerBMember_zhBD5DWXiSTd" style="width: 5%; text-align: right" title="Revenues">1,448,109</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zRXeQVOrxnkf" style="width: 5%; text-align: right" title="Concentrationr risk, percentage">62</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AccountsReceivableNetCurrent_iI_c20230331__srt--MajorCustomersAxis__custom--CustomerBMember_zJct0UBke1T3" style="width: 5%; text-align: right" title="Accounts receivable">3,344,349</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zdkSx1sGF002" style="width: 5%; text-align: right" title="Concentrationr risk, percentage">100</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--Revenues_c20220101__20220331__srt--MajorCustomersAxis__custom--CustomerBMember_zBK2VP5PpOAk" style="width: 5%; text-align: right" title="Revenues">2,513,619</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zpVStKqneif5" style="width: 5%; text-align: right" title="Concentrationr risk, percentage">67</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--AccountsReceivableNetCurrent_iI_c20220331__srt--MajorCustomersAxis__custom--CustomerBMember_zMdPYYI37Vi9" style="width: 5%; text-align: right" title="Accounts receivable">3,691,479</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zd3nrrgdRD1k" style="width: 5%; text-align: right" title="Concentrationr risk, percentage">100</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Customer A</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--Revenues_c20230101__20230331__srt--MajorCustomersAxis__custom--CustomerAMember_z3aIRuStLJt4" style="text-align: right" title="Revenues">897,432</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zvTau1Et5Rnd" style="text-align: right" title="Concentrationr risk, percentage">38</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--AccountsReceivableNetCurrent_iI_c20230331__srt--MajorCustomersAxis__custom--CustomerAMember_zWoViMEWpnq8" style="text-align: right" title="Accounts receivable"><span style="-sec-ix-hidden: xdx2ixbrl0516">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zoFPWYhNesZb" style="text-align: right" title="Concentrationr risk, percentage"><span style="-sec-ix-hidden: xdx2ixbrl0518">-</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--Revenues_c20220101__20220331__srt--MajorCustomersAxis__custom--CustomerAMember_zhpWMcXD6szk" style="text-align: right" title="Revenues">1,221,124</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zf79QmxVErjc" style="text-align: right" title="Concentrationr risk, percentage">33</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--AccountsReceivableNetCurrent_iI_c20220331__srt--MajorCustomersAxis__custom--CustomerAMember_zwfia9AOlRWd" style="text-align: right" title="Accounts receivable"><span style="-sec-ix-hidden: xdx2ixbrl0524">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_ziyrjr1MBNd7" style="text-align: right" title="Concentrationr risk, percentage"><span style="-sec-ix-hidden: xdx2ixbrl0526">-</span></td><td style="text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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 &amp; 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 style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: center"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Major vendors</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three months ended March 31, 2023 and 2022, the Company made purchases from the major vendors accounted more than 10% of the total purchases were as following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">Three months ended March 31, 2023</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of <br/> March 31, 2023</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">Three months ended March 31, 2022</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of <br/> March 31, 2022</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Amount</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of Total Purchase</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts payable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of Total Accounts Payable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Amount</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of Total Purchase</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts payable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of Total Accounts Payable</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left">Vendor A</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--CostOfGoodsAndServicesSold_c20230101__20230331__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zQEaTTJAdgc" style="width: 5%; text-align: right" title="Cost of goods">1,908,106</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zDjZUGYAYtql" style="width: 5%; text-align: right" title="Concentrationr risk, percentage">84</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 5%; text-align: right"><span id="xdx_907_eus-gaap--AccountsPayableCurrent_iI_c20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zbWMSPOygFek" title="Accounts payable">1,534,522</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_z7V170nXXwO1" style="width: 5%; text-align: right" title="Concentrationr risk, percentage">23</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--CostOfGoodsAndServicesSold_c20220101__20220331__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zoXUcTDe8QA" style="width: 5%; text-align: right" title="Cost of goods">2,557,078</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zrNPHPauJmJa" style="width: 5%; text-align: right" title="Concentrationr risk, percentage">81</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 5%; text-align: right"><span id="xdx_90D_eus-gaap--AccountsPayableCurrent_iI_c20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_z9S75NpuPPZ" title="Accounts payable">1,797,520</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zp1VSM8tDKg7" style="width: 5%; text-align: right" title="Concentrationr risk, percentage">18</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Vendor B</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--CostOfGoodsAndServicesSold_c20230101__20230331__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zfKmnKBwNKsd" style="text-align: right" title="Cost of goods"><span style="-sec-ix-hidden: xdx2ixbrl0544">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zqk8D2QJbCZc" style="text-align: right" title="Concentrationr risk, percentage"><span style="-sec-ix-hidden: xdx2ixbrl0546">-</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_901_eus-gaap--AccountsPayableCurrent_iI_c20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zDgYgZf5EN45" title="Accounts payable">4,983,479</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_z4QNO748aYea" style="text-align: right" title="Concentrationr risk, percentage">76</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--CostOfGoodsAndServicesSold_c20220101__20220331__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zUPctlLYRE06" style="text-align: right" title="Cost of goods"><span style="-sec-ix-hidden: xdx2ixbrl0552">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zbpVCecnAZ2k" style="text-align: right" title="Concentrationr risk, percentage"><span style="-sec-ix-hidden: xdx2ixbrl0554">-</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_90F_eus-gaap--AccountsPayableCurrent_iI_c20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_z18HKED4B3sc" title="Accounts payable">6,969,798</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zzzUe3z2vlo7" style="text-align: right" title="Concentrationr risk, percentage">69</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vendor C</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--CostOfGoodsAndServicesSold_c20230101__20230331__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zNJZZLYQRct8" style="text-align: right" title="Cost of goods">369,389</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zKeNFeY3Vdwc" style="text-align: right" title="Concentrationr risk, percentage">16</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zaBWTKReMgF9" style="text-align: right" title="Concentrationr risk, percentage"><span style="-sec-ix-hidden: xdx2ixbrl0564">-</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--CostOfGoodsAndServicesSold_c20220101__20220331__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zjHHoqPLqa8g" style="text-align: right" title="Cost of goods"><span style="-sec-ix-hidden: xdx2ixbrl0566">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--CostOfGoodsAndServicesSold_c20220101__20220331__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_z4kbT3dS4xsc" style="text-align: right" title="Cost of goods"><span style="-sec-ix-hidden: xdx2ixbrl0568">-</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_90C_eus-gaap--AccountsPayableCurrent_iI_c20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zWO3mCQVVndk" title="Accounts payable"><span style="-sec-ix-hidden: xdx2ixbrl0570">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zQOnT7SkVu27" style="text-align: right" title="Concentrationr risk, percentage"><span style="-sec-ix-hidden: xdx2ixbrl0572">-</span></td><td style="text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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 &amp; 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> <p id="xdx_8A9_zmunDNL6dEG7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 RUBL Cash Fsd Insured Amount
CashFSDInsuredAmount
500000
CY2023Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
819670 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
1240272 usd
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.21 pure
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0.25 pure
CY2023Q1 us-gaap Notes Payable
NotesPayable
649333 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
1312362 usd
CY2023Q1 RUBL 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.
CY2022Q4 RUBL Retainage Payable
RetainagePayable
38138 usd
CY2023Q1 RUBL Value Added Tax Rate
ValueAddedTaxRate
0.13 pure
CY2023Q1 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
9712 usd
CY2022Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
8900 usd
CY2023Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1669156 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1329577 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
1678868 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
1338477 usd
CY2023Q1 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
5652252 usd
CY2022Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
5633421 usd
CY2023Q1 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
4400 usd
CY2022Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
3505 usd
CY2023Q1 RUBL Auto Vehicles Gross
AutoVehiclesGross
24438 usd
CY2022Q4 RUBL Auto Vehicles Gross
AutoVehiclesGross
19783 usd
CY2023Q1 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
122650 usd
CY2022Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
122124 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1648027 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1497885 usd
CY2023Q1 RUBL Plant And Equipment Gross
PlantAndEquipmentGross
4155713 usd
CY2022Q4 RUBL Plant And Equipment Gross
PlantAndEquipmentGross
4280948 usd
CY2023Q1 us-gaap Construction In Progress Gross
ConstructionInProgressGross
3567476 usd
CY2022Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
2518836 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7723189 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6799784 usd
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
120028 usd
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
140526 usd
CY2020Q4 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P50Y
CY2020Q4 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
2064554 usd
CY2020Q4 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
13729900
CY2020Q4 us-gaap Foreign Currency Exchange Rate Remeasurement1
ForeignCurrencyExchangeRateRemeasurement1
0.1504 pure
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2210526 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2201040 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
109178 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
97705 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2101348 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2103335 usd
CY2023Q1 us-gaap Nature Of Common Ownership Or Management Control Relationships
NatureOfCommonOwnershipOrManagementControlRelationships
Effective on October 1, 2022, Ms. Hua reduced her ownership of Shanghai Xinsen to 15%, and so accordingly reduced her indirect ownership of Hangzhou Xinsen 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 before September 30, 2022, and subsequently 0.25% effective from October 1, 2022 after the renegotiation between RLSP and Xinsen Group. Sales commission incurred in each period is recorded as part of selling expense of the Company.
CY2021Q2 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
46454 usd
CY2021Q2 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
300000
CY2021Q2 RUBL Loss Contingency Damages Sought Interest
LossContingencyDamagesSoughtInterest
0.24 pure
CY2021Q2 us-gaap Lease Deposit Liability
LeaseDepositLiability
58855 usd
CY2021Q2 us-gaap Lease Deposit Liability
LeaseDepositLiability
380000
CY2023Q1 us-gaap Lessee Finance Lease Option To Extend
LesseeFinanceLeaseOptionToExtend
which extended the lease agreement from January 15, 2023 to January 14, 2024
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
429000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
61638 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.21 pure
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0.25 pure
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9055 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8038 usd
CY2023Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
9020 usd
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
237670 usd
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2023Q1 RUBL Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Except
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateExcept
0.040 pure
CY2022Q1 RUBL Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Except
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateExcept
0.040 pure
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements Other
EffectiveIncomeTaxRateReconciliationTaxSettlementsOther
5.280 pure
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.233 pure
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-5.413 pure
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.017 pure
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.117 pure
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment

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rubl-20230331_cal.xml Edgar Link unprocessable
0001493152-23-017262-index-headers.html Edgar Link pending
0001493152-23-017262-index.html Edgar Link pending
0001493152-23-017262.txt Edgar Link pending
0001493152-23-017262-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
MetaLinks.json Edgar Link pending
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form10-q_htm.xml Edgar Link completed
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report.css Edgar Link pending
rubl-20230331.xsd Edgar Link pending
Show.js Edgar Link pending
rubl-20230331_def.xml Edgar Link unprocessable
rubl-20230331_lab.xml Edgar Link unprocessable
rubl-20230331_pre.xml Edgar Link unprocessable