Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 7,965	$ 7,859
Accounts receivable, net		6,751,113
Prepaid expenses	1,091,927	2,259,565
Other receivables, net	2,208,199	323,362
Loan to a third party	2,046,822
Notes receivable	7,140,335
Advance to suppliers	10,274,222	15,763,198
Due from related parties - non-trade	34,380	12,108
Inventories	31,506	1,643,033
Deferred cost of goods sold		4,929,855
Total current assets	22,835,356	31,690,093
Property, plant and equipment - net	33,260	93,181
Operating lease right-of-use assets	54,345
Rent deposits-non current	3,865	613
Deferred tax asset	426,786
Deposit for long-term investment	715,717	727,155
Total non-current assets	1,233,973	820,949
Total assets	24,069,329	32,511,042
Current liabilities
Accounts payable	135,504	1,611,273
Advances from customers	1,096,392	580,720
Due to related parties	248,617	570,921
Convertible notes payable, net of discount of $273,559 and $99,907 at December 31, 2019 and 2018, respectively	2,376,948	971,086
Derivative liabilities		6,621
Notes payable	360,000	360,000
Salary payable	875,266	1,024,959
Income taxes payable	3,476,676	2,946,926
Interest payable	2,785,927	2,020,821
Operating lease liabilities - current	24,993
Other payables and accruals	2,873,556	2,940,088
Deferred revenue		6,751,113
Total current liabilities	14,253,879	19,784,528
Non-Current Liabilities
Convertible note payable - non current	97,895
Operating lease liabilities - non current	32,267
Total non-current liabilities	130,162
Total liabilities	14,384,041	19,784,528
STOCKHOLDERS' EQUITY
Preferred stock - $0.001 par value, Authorized 20,000,000 shares. Series A - Issued and outstanding 500,000 and 500,000 shares (liquidation preference in $1,000,000) at December 31, 2019 and 2018, respectively; Series B - Issued and outstanding 811,148 and 811,148 shares (liquidation preference in $1,054,492) at December 31, 2019 and 2018, respectively.	1,311	1,311
Common stock - $0.001 per value. Authorized 300,000,000 shares. Issued and outstanding 82,531,999 and 16,885,260 shares at December 31, 2019 and 2018, respectively.	82,532	16,886
Additional paid-in capital	30,890,661	27,047,457
Statutory Reserve	742,287	1,022,605
Accumulated deficit	(21,158,508)	(14,803,530)
Accumulated other comprehensive loss	(872,995)	(558,215)
Total stockholders' equity	9,685,288	12,726,514
Total liabilities and stockholder's equity	$ 24,069,329	$ 32,511,042

KIWA BIO-TECH PRODUCTS GROUP CORP 10-K