Document and Entity Information
| Document and Entity Information - shares | 9 Months Ended | |
| Sep. 30, 2018 | Nov. 19, 2018 | |
| Document and Entity Information [Abstract] | ||
| Entity Registrant Name | Yew Bio-Pharm Group, Inc. | |
| Entity Central Index Key | 1,548,240 | |
| Trading Symbol | YEWB | |
| Amendment Flag | false | |
| Current Fiscal Year End Date | --12-31 | |
| Document Type | 10-Q | |
| Document Period End Date | Sep. 30, 2018 | |
| Document Fiscal Period Focus | Q3 | |
| Document Fiscal Year Focus | 2,018 | |
| Entity Filer Category | Non-accelerated Filer | |
| Entity Small Business | true | |
| Entity Emerging Growth Company | true | |
| Entity Ex Transition Period | false | |
| Entity Common Stock, Shares Outstanding | 52,075,000 |
Consolidated Balance Sheets
| Consolidated Balance Sheets - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
| CURRENT ASSETS: | ||
| Cash | $ 522,260 | $ 859,830 |
| Accounts receivable | 6,871,285 | 9,881,914 |
| Accounts receivable - related parties | 6,592,266 | 21,847,733 |
| Inventories, net | 6,784,838 | 2,579,190 |
| Prepaid expenses - related parties | 57,153 | 57,202 |
| Prepaid expenses and other assets | 35,488 | 37,519 |
| VAT recoverables | 1,056,483 | 170,564 |
| Total Current Assets | 21,919,773 | 35,433,952 |
| LONG-TERM ASSETS: | ||
| Long-term inventories, net | 1,700,797 | 10,546,648 |
| Property and equipment, net | 526,419 | 579,557 |
| Land use rights and yew forest assets, net | 31,087,820 | 6,369,938 |
| Total Long-term Assets | 33,315,036 | 17,496,143 |
| Total Assets | 55,234,809 | 52,930,095 |
| CURRENT LIABILITIES: | ||
| Accounts payable | 816,010 | 152,812 |
| Accounts payable - related parties | 14,563 | 357,708 |
| Accrued expenses and other payables | 306,561 | 162,619 |
| Advance from customers | 27,602 | |
| Taxes payable | 235,736 | 5,574 |
| Due to related parties | 585,326 | 619,999 |
| Short-term borrowings | 6,512,038 | 6,099,876 |
| Total Current Liabilities | 8,497,836 | 7,398,588 |
| NONCURRENT LIABILITIES: | ||
| Taxes payable | 1,202,741 | |
| Deferred income | 340,785 | 359,646 |
| Total Noncurrent Liabilities | 1,543,526 | 359,646 |
| Total Liabilities | 10,041,362 | 7,758,234 |
| COMMITMENTS AND CONTINGENCIES | ||
| SHAREHOLDERS' EQUITY: | ||
| Common Stock ($0.001 par value; 140,000,000 shares authorized; 52,075,000 and 51,875,000 shares issued and outstanding at September 30, 2018 and December 31, 2017) | 52,075 | 51,875 |
| Additional paid-in capital | 11,470,760 | 10,363,412 |
| Retained earnings | 31,669,034 | 30,287,658 |
| Statutory reserves | 3,762,288 | 3,762,288 |
| Accumulated other comprehensive income (loss) | (1,760,710) | 706,628 |
| Total Shareholders' Equity | 45,193,447 | 45,171,861 |
| Total Liabilities and Shareholders' Equity | $ 55,234,809 | $ 52,930,095 |
Consolidated Balance Sheets (Pa
| Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2018 | Dec. 31, 2017 |
| Balance Sheets [Abstract] | ||
| Common stock, par value | $ 0.001 | $ 0.001 |
| Common stock, shares authorized | 140,000,000 | 140,000,000 |
| Common stock, shares issued | 52,075,000 | 51,875,000 |
| Common stock, shares outstanding | 52,075,000 | 51,875,000 |
Consolidated Statements of Inco
| Consolidated Statements of Income and Comprehensive Income (Loss) (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
| Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
| REVENUES: | ||||
| Revenues | $ 8,003,644 | $ 7,272,296 | $ 8,178,314 | $ 16,681,089 |
| Revenues - related parties | 6,035,593 | 4,292,619 | 23,712,429 | 18,363,666 |
| Total Revenues | 14,039,237 | 11,564,915 | 31,890,743 | 35,044,755 |
| COST OF REVENUES: | ||||
| Cost of revenues | 7,499,241 | 7,371,663 | 7,601,484 | 16,731,726 |
| Cost of revenues - related parties | 5,075,419 | 3,443,336 | 18,991,830 | 6,453,470 |
| Total Cost of Revenues | 12,574,660 | 10,814,999 | 26,593,314 | 23,185,196 |
| GROSS PROFIT | 1,464,577 | 749,916 | 5,297,429 | 11,859,559 |
| OPERATING EXPENSES: | ||||
| Selling | 16,964 | 64,347 | 24,793 | 64,678 |
| General and administrative | 234,507 | 196,569 | 1,773,850 | 794,556 |
| Total Operating Expenses | 251,471 | 260,916 | 1,798,643 | 859,234 |
| INCOME FROM OPERATIONS | 1,213,106 | 489,000 | 3,498,786 | 11,000,325 |
| OTHER INCOME (EXPENSES): | ||||
| Interest expense | (45,549) | (52,105) | (182,659) | (139,450) |
| Other income | (9,969) | (3,332) | 80,356 | (1,895) |
| Exchange loss | (106,570) | 181,454 | (583,271) | 181,454 |
| Total Other Expenses | (162,088) | 126,017 | (685,574) | 40,109 |
| INCOME BEFORE PROVISION FOR INCOME TAXES | 1,051,018 | 615,017 | 2,813,212 | 11,040,434 |
| PROVISION FOR INCOME TAXES | (1,431,836) | (610) | (1,431,836) | (610) |
| NET INCOME (LOSS) | (380,818) | 614,407 | 1,381,376 | 11,039,824 |
| COMPREHENSIVE INCOME: | ||||
| NET INCOME | (380,818) | 614,407 | 1,381,376 | 11,039,824 |
| OTHER COMPREHENSIVE INCOME (LOSS): | ||||
| Foreign currency translation adjustment | (1,623,333) | 790,549 | (2,467,338) | 1,870,030 |
| COMPREHENSIVE INCOME (LOSS) | $ (2,004,151) | $ 1,404,956 | $ (1,085,962) | $ 12,909,854 |
| NET INCOME PER COMMON SHARE: | ||||
| Basic | $ (0.01) | $ 0.01 | $ 0.03 | $ 0.21 |
| Diluted | $ (0.01) | $ 0.01 | $ 0.03 | $ 0.20 |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | ||||
| Basic | 52,018,478 | 51,875,000 | 51,923,352 | 51,875,000 |
| Diluted | 52,018,478 | 54,561,533 | 54,808,280 | 53,965,264 |
Consolidated Statements of Cash
| Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
| Sep. 30, 2018 | Sep. 30, 2017 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | $ 1,381,376 | $ 11,039,824 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation | 44,912 | 50,944 |
| Stock-based compensation | 1,067,548 | 94,177 |
| Amortization of land use rights and yew forest assets | 4,950,556 | 137,903 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 2,641,250 | 3,276,466 |
| Accounts receivable - related parties | 14,873,927 | (11,005,869) |
| Prepaid expenses and other current assets | (22,053) | (14,847) |
| Prepaid expenses - related parties | 19,729 | 17,902 |
| Inventories, net | 4,299,077 | (3,278,467) |
| VAT recoverables | (943,333) | 1,081,219 |
| Accounts payable | 692,154 | 501,728 |
| Accounts payable - related parties | (341,954) | (2,803,224) |
| Accrued expenses and other payables | 160,728 | (202,645) |
| Advance from customers | 29,097 | |
| Due to related parties | (28,211) | (57,632) |
| Taxes payable | 1,431,836 | (11,873) |
| Deferred income | 1,067 | 220,403 |
| NET CASH PROVIDED BY(USED IN) OPERATING ACTIVITIES | 30,257,706 | (953,991) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Prepayments made to related party for purchase of yew forest assets | (20,690) | |
| Purchase of land use rights and yew forest assets | (31,356,873) | (793,662) |
| NET CASH USED IN INVESTING ACTIVITIES | (31,377,563) | (793,662) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from short-term borrowings | 7,331,599 | 7,881,105 |
| Repayment of short-term borrowings | (6,695,593) | (4,997,764) |
| Proceeds from exercise of stock options | 40,000 | |
| Repayments to related party | (105,875) | |
| NET CASH PROVIDED BY FINANCING ACTIVITIES | 676,006 | 2,777,466 |
| EFFECT OF EXCHANGE RATE ON CASH | 106,281 | 30,869 |
| NET INCREASE (DECREASE) IN CASH | (337,570) | 1,060,682 |
| CASH - Beginning of period | 859,830 | 278,991 |
| CASH - End of period | 522,260 | 1,339,673 |
| Cash paid for: | ||
| Interest | 166,884 | 140,555 |
| Income taxes | 18,197 | |
| NON-CASH INVESTING AND FINANCING ACTIVITIES | ||
| Operating expenses paid by related party | 5,834 | 34,341 |
| Reclassification of inventories to land use rights and yew forest assets | $ 4,300,033 | |
Organization and Principal Acti
| Organization and Principal Activities | 9 Months Ended |
| Sep. 30, 2018 | |
| Organization and Principal Activities [Abstract] | |
| ORGANIZATION AND PRINCIPAL ACTIVITIES | NOTE 1 - ORGANIZATION AND PRINCIPAL ACTIVITIES The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted as permitted by rules and regulations of the Securities and Exchange Commission (“SEC”). The consolidated balance sheet as of December 31, 2017 was derived from the audited consolidated financial statements of Yew Bio-Pharm Group, Inc. (individually “YBP” and collectively with its subsidiaries and operating variable interest entity, the “Company”). The accompanying unaudited interim consolidated financial statements should be read in conjunction with the summary of significant accounting policies and notes to consolidated financial statements included in the Company’s annual report on Form 10-K for the year ended December 31, 2017. In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present a fair statement of the financial position as of September 30, 2018, and the results of operations and cash flows for the nine-month periods ended September 30, 2018 and 2017, have been presented. The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company continually evaluates its estimates, including those related to bad debts, inventories, income taxes, and the valuation of equity transactions. The Company bases its estimates on historical experience and on various other assumptions that it believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Any future changes to these estimates and assumptions could cause a material change to our reported amounts of revenues, expenses, assets and liabilities. Actual results may differ from these estimates under different assumptions or conditions. Accounts payable and accounts payable—related party from prior period financial statements have been reclassified to conform to the current period presentation. This reclassification has resulted in no changes to the Company’s financial position or results of operations presented. Details of the Company’s subsidiaries, variable interest entity (“VIE”) and VIE’s subsidiary are as follows: Name Domicile and Date of Incorporation Registered Effective Principal Heilongjiang Jinshangjing Bio-Technology Development Co., Limited (“JSJ”) PRC US$100,000 100 % Holding company Yew Bio-Pharm Holdings Limited (“Yew Bio-Pharm (HK)”) Hong Kong HK$10,000 100 % Holding company of JSJ Harbin Yew Science and Technology Development Co., Ltd. (“HDS”) PRC RMB45,000,000 Contractual arrangements Sales of yew tree components for use in pharmaceutical industry; sales of yew tree seedlings; the manufacture of yew tree wood handicrafts; and the sales of candle, pine needle extract, yew essential oil soap, complex taxus cuspidate extract, and northeast yew extract Harbin Yew Food Co., Ltd (“HYF”) PRC RMB100,000 100 %(1) Sales of wood ear mushroom drink MC Commerce Holding Inc. (“MC”) State of California, 100 %(2) Sales of yew oil candles and yew oil soaps (1) Wholly-owned subsidiary of HDS (2) 51% owned by YBP and 49% owned by HDS |
Principles of Consolidation
| Principles of Consolidation | 9 Months Ended |
| Sep. 30, 2018 | |
| Principles of Consolidation [Abstract] | |
| PRINCIPLES OF CONSOLIDATION | NOTE 2 - PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the financial statements of YBP, its subsidiaries and operating VIE and its subsidiary in which the Company is the primary beneficiary. All significant intercompany balances and transactions have been eliminated on consolidation. Pursuant to a restructuring plan intended to ensure compliance with applicable PRC laws and regulations (the “Second Restructure”), on November 5, 2010, JSJ entered into a series of contractual arrangements (the “Contractual Arrangements”) with HDS and/or Zhiguo Wang, his wife Guifang Qi and Xingming Han (collectively with Mr. Wang and Madame Qi, the “HDS Shareholders”), as described below: ● Exclusive Business Cooperation Agreement ● Exclusive Option Agreement ● Equity Interest Pledge Agreement ● Power of Attorney . To the extent that the Contractual Arrangements are enforceable under PRC law, as from time to time interpreted by relevant state agencies, they constitute the valid and binding obligations of each of the parties to each such agreement. The Company believes that HDS is considered a VIE under ASC 810 “Consolidation”, because the equity investors in HDS no longer have the characteristics of a controlling financial interest, and the Company, through JSJ, is the primary beneficiary of HDS and controls HDS’s operations. Accordingly, HDS has been consolidated as a deemed subsidiary into YBP as a reporting company under ASC 810. YBP has no direct or indirect legal or equity ownership interest in HDS. However, through the Contractual Arrangements, the stockholders of HDS have assigned all their rights as stockholders, including voting rights and disposition rights of their equity interests in HDS to JSJ, our indirect, wholly-owned subsidiary. YBP is deemed to be the primary beneficiary of HDS and the financial statements of HDS are consolidated in the Company’s consolidated financial statements. At September 30, 2018 and December 31, 2017, the carrying amount and classification of the assets and liabilities in the Company’s balance sheets that relate to the Company’s variable interest in the VIE and VIE’s subsidiary are as follows: September 30, December 31, Assets Cash $ 487,809 $ 798,514 Accounts receivable 6,616,158 9,841,841 Accounts receivable - related parties 6,592,266 21,847,733 Inventories (current and long-term), net 6,077,191 10,680,304 Prepaid expenses and other assets 44,115 26,637 Prepaid expenses - related parties 35,488 57,202 Property and equipment, net 522,009 573,563 Land use rights and yew forest assets, net 31,042,461 6,326,529 VAT recoverables 1,056,483 170,564 Total assets of VIE and its subsidiary $ 52,473,980 $ 50,322,887 Liabilities Accrued expenses and other payables $ 303,357 $ 162,004 Accounts payable 534,247 17,727 Accounts payable - related parties 14,563 357,708 Advance from customers 27,602 - Due to VIE holding companies 559,343 590,300 Short-term borrowings 6,512,038 6,099,876 Deferred income 340,785 359,646 Due to related parties 109,991 145,474 Total liabilities of VIE and its subsidiary $ 8,401,926 $ 7,732,735 |
Revenue Recognition
| Revenue Recognition | 9 Months Ended |
| Sep. 30, 2018 | |
| Revenue Recognition [Abstract] | |
| REVENUE RECOGNITION | NOTE 3 - REVENUE RECOGNITION The Company accounts for revenue arising from contracts and customers in accordance with Accounting Standards Update (ASU or Update) No. 2014-09, Revenue from Contracts with Customers (“ASC 606”) Under ASC 606, the Company recognizes revenue when its customer obtains control of promised goods, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods. To determine revenue recognition for arrangements that the Company determines are within the scope of ASC 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that Company will collect the consideration it is entitled to in exchange for the goods it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods promised within each contract and determines those that are performance obligations and assesses whether each promised good is distinct. The Company then recognizes as revenue the amount of the transaction price, which is allocated to the respective performance obligation, when the performance obligation is satisfied. Generally, the Company’s performance obligations are satisfied when the customers take possession of the products, which normally occurs upon shipment or delivery depending on the terms of the contracts. In general, the Company’s products within its segments are aligned according to the nature and economic characteristics of its products and provide meaningful disaggregation of each business segment’s results of operations. Disaggregation of revenue by business segment are included in Note 11 - SEGMENT INFORMATION. |
Inventories
| Inventories | 9 Months Ended |
| Sep. 30, 2018 | |
| Inventories [Abstract] | |
| INVENTORIES | NOTE 4 - INVENTORIES Inventories consisted of raw materials, finished goods including handicrafts, yew essential oil soap, complex cuspidate extract, composite northeast yew extract, yew candles and pine needle extracts, yew seedlings and other trees, which consist of larix, spruce and poplar trees. The Company classifies its inventories based on its historical and anticipated levels of sales; any inventory in excess of its normal operating cycle of one year is classified as long-term on its consolidated balance sheets. As of September 30, 2018 and December 31, 2017, inventories consisted of the following: September 30, 2018 December 31, 2017 Current portion Long-term portion Total Current portion Long-term portion Total Raw materials $ 39,807 $ 2,512,232 $ 2,552,039 $ 62,548 $ 2,651,272 $ 2,713,820 Finished goods 6,745,331 577,373 7,322,704 2,475,709 588,444 3,064,153 Yew seedlings and Other trees - 1,203,700 1,203,700 47,913 10,036,658 10,084,571 Total 6,785,138 4,293,305 11,078,443 2,586,170 13,276,374 15,862,544 Inventory write-down (300 ) (2,592,508 ) (2,592,808 ) (6,980 ) (2,729,726 ) (2,736,706 ) Inventories, net $ 6,784,838 $ 1,700,797 $ 8,485,635 $ 2,579,190 $ 10,546,648 $ 13,125,838 Inventories as of September 30, 2018 and December 31, 2017 consisted of the inventory purchased from related parties are as follows: September 30, December 31, 2018 2017 Inventories, net $ 962,185 $ 1,022,452 Inventories - related parties, net 5,822,653 1,556,738 Total $ 6,784,838 $ 2,579,190 September 30, December 31, 2018 2017 Long-term inventories, net $ 1,700,797 $ 3,375,247 Long-term inventories - related parties, net - 7,171,401 Total $ 1,700,797 $ 10,546,648 |
Taxes
| Taxes | 9 Months Ended |
| Sep. 30, 2018 | |
| Taxes [Abstract] | |
| TAXES | NOTE 5 - TAXES (a) Federal Income Tax and Enterprise Income Taxes The Company, YBP, registered in the state of Nevada, and its subsidiary, MC, registered in the State of California, are subject to the United States federal income tax at a tax rate of 21%. No provision for income taxes in the U.S. has been made as YBP and MC had no U.S. taxable income as of September 30, 2018 and December 31, 2017. The Company’s subsidiary, Yew Bio-Pharm (HK), is incorporated in Hong Kong and has no operating profit or tax liabilities during the years. Yew Bio-Pharm (HK) is subject to tax at 16.5% on the assessable profits arising in or derived from Hong Kong. The Company’s subsidiary, JSJ, and VIE and its subsidiary, HYF and HDS, incorporated in the PRC, are subject to PRC’s Enterprise Income Tax. Pursuant to the PRC Income Tax Laws, Enterprise Income Taxes (“EIT”) is generally imposed at 25%. However, HDS has been named as a leading enterprise in the agricultural industry and awarded with a tax exemption through December 31, 2058 with an exception of sales of handicrafts, yew candle, pine needle extracts and yew essential oil soap which are not within the scope of agricultural area. The table below summarizes the difference between the U.S. statutory federal tax rate and the Company’s effective tax rate for the nine months ended September 30, 2018 and 2017: Nine Months Ended 2018 2017 U.S. federal income tax rate 21.00 % 34.00 % Foreign income not recognized in the U.S. (21.00 )% (34.00 )% PRC EIT rate 25.00 % 25.00 % PRC tax exemption and reduction (37.81 )% (26.20 )% Income tax difference under different tax jurisdictions 12.66 % 1.08 % Valuation allowance 0.15 % 0.12 % Effective tax rate - - Deferred tax assets and liabilities are provided for significant income and expense items recognized in different years for income tax and financial reporting purposes. Temporary differences, which give rise to a net deferred tax asset for the Company as of September 30, 2018 and December 31, 2017, are as follows: September 30, December 31, Net operating loss carry-forwards $ 140,000 $ 2,541,363 Inventory write-down 648,127 614,625 Valuation allowance (788,127 ) (3,155,988 ) Non-current deferred tax assets $ - $ - The U.S. Tax Cuts and Jobs Act (the “Tax Act”) was enacted on December 22, 2017. The Tax Act among other changes, reduces the U.S. federal corporate tax rate from 35% to 21%. The Company recognized provisional tax impacts related to the revaluation of deferred tax assets and liabilities and corresponding valuation allowances in its consolidated financial statements for the nine months ended September 30, 2018. There was no impact of the revaluation to the current net income because it was fully offset by the valuation allowance that was recorded against the deferred tax asset. In addition, the Tax Act implements a modified territorial tax system that includes a one-time transition tax on deemed repatriation of previously untaxed accumulated earnings and profits of certain foreign subsidiaries, and creates new taxes on certain foreign-sourced earnings. In connection with the Tax Act, the Securities and Exchange Commission (“SEC”) issued Staff Accounting Bulletin No. 118 (“SAB 118”) that allows companies to record provisional estimates of the effects of the legislative change, and a one-year measurement period to finalize the accounting of those effects. During the three months ended September 30, 2018, the Company recognized a one-time transition tax of $1,431,836 that represented management’s estimate of the amount of U.S. corporate income tax based on the deemed repatriation to the United States of the Company’s share of previously deferred earnings of certain non-U.S. subsidiaries of the Company mandated by the U.S. Tax Reform. The Company elected to pay the one-time transition tax over eight years commencing in 2018. The actual impact of the U.S. Tax Reform on the Company may differ from management’s estimates, and management may update its judgments based on future regulations or guidance issued or changes in the interpretations taken that would adjust the provisional amounts recorded. As of the filing date, no transition tax payment has been made. In addition, the 2017 Tax Act also creates a new requirement that certain income (i.e., Global Intangible Low-Taxed Income (“GILTI”)) earned by controlled foreign corporations (“CFCs”) must be included currently in the gross income of the CFCs’ U.S. shareholder. GILTI is the excess of the shareholder’s net CFC tested income over the net deemed tangible income return, which is currently defined as the excess of (1) 10 percent of the aggregate of the U.S. shareholder’s pro rata share of the qualified business asset investment of each CFC with respect to which it is a U.S. shareholder over (2) the amount of certain interest expense taken into account in the determination of net CFC-tested income. The Company has elected to recognize the tax on GILTI as a period expense in the period the tax is incurred. For the nine months and three months ended September 30, 2018, no GILTI tax obligation existed and nil GILTI tax expense was recorded. |
Short-Term Borrowings
| Short-Term Borrowings | 9 Months Ended |
| Sep. 30, 2018 | |
| Short-Term Borrowings [Abstract] | |
| SHORT-TERM BORROWINGS | NOTE 6 - SHORT-TERM BORROWINGS In May 2016, HDS entered into a line of credit agreement with Harbin Rongtong Branch of Bank of Communications (“BOCOM”) for the period from May 3, 2016 through May 3, 2018, pursuant to which the Company obtained a bank loan in the amount of RMB10,000,000 (approximately $1,471,000) on June 13, 2017, payable on June 12, 2018. Under this credit agreement. The loan carries an interest rate of 5.873% per annum and is payable quarterly. Heilongjiang Zishan Technology Co., Ltd. (“ZTC”), a related party controlled by Zhiguo Wang and his wife Madame Qi, collateralized its buildings and land use right with BOCOM to secure the loans under this credit agreement. In addition, ZTC, Heilongjiang Yew Pharmaceutical Co., Ltd. (“Yew Pharmaceutical”), a related party of the Company, Zhiguo Wang, Madame Qi, Yicheng Wang, the son of Zhiguo Wang and Yuqi Mao, the former family member of Yicheng Wang, provided guarantees to the loan. HDS paid off the loan in full on June 11, 2018. On November 15, 2017, HDS entered into a loan agreement with Shanghai Pudong Development Bank (“SPD Bank”) Harbin Branch, pursuant to which the Company obtained a bank loan in the amount of RMB10,000,000 (approximately $1,509,000), payable on October 20, 2018. The loan carries an interest rate of 4.100% per annum and is payable at maturity. The proceeds of the loan were used by the Company to purchase raw materials. Madam Qi has secured the loan with her personal assets. In addition, Yew Pharmaceutical, Zhiguo Wang, Yicheng Wang, and Yuqi Mao, the former family member of Yicheng Wang provided guarantees to the loan. On December 22, 2016, HDS entered into a credit agreement with China Everbright Bank (“CEB”) which agreed to provide credit line of RMB20,000,000 (approximately $2,880,000) to the Company for the period of three years. During the nine months ended September 30, 2018 and 2017, the Company obtained short-term loans from CEB in the total amount of $4,406,000 and $6,410,000, respectively, under this credit agreement and paid off in the total amount of $5,133,000 and $3,540,000, respectively. As of September 30, 2018 and December 31, 2017, the balance of loans borrowed from CEB was $2,143,000 and $2,870,000, respectively. These loans carry interest rates ranging from 4.30% to 4.60% per annum and the interests are payable monthly. The loans with CEB are secured by properties and land use rights of Yew Pharmaceutical. In addition, Zhiguo Wang, Madame Qi, Yew Pharmaceutical, and ZTC provided guarantees to the loans. On August 6, 2018, HDS entered into a loan agreement with Bank of Yingkou Harbin Branch (“Yingkou Bank”), pursuant to which HDS obtained a bank loan in the amount of RMB15,000,000 (approximately $2,192,000), payable on August 5, 2019. The loan carries an interest rate of 5.4375% per annum and is payable monthly. Heilongjiang Zishan Technology Co., Ltd. (“ZTC”), a related party controlled by Zhiguo Wang and his wife Madame Qi, collateralized its buildings and land use right with Yingkou Bank to secure the loan. During nine months ended September 30, 2018 and 2017, interest expense was $182,659 and $139,450, respectively. |
Stockholders' Equity
| Stockholders' Equity | 9 Months Ended |
| Sep. 30, 2018 | |
| Stockholders' Equity [Abstract] | |
| STOCKHOLDERS' EQUITY | NOTE 7 - STOCKHOLDERS’ EQUITY Stock option activities for the nine months ended September 30, 2018 and 2017 were summarized in the following table. Nine Months Ended Nine Months Ended Number of Stock Options Weighted Average Exercise Price Number of Stock Options Weighted Average Exercise Price Balance at beginning of period 24,872,212 0.22 25,325,512 0.22 Issued - - 50,000 0.25 Exercised 200,000 - - - Expired 15,503,475 0.22 - - Forfeited - - - - Balance at end of period 9,168,737 0.22 25,375,512 0.22 Option exercisable at end of period 9,068,737 0.22 24,465,012 0.22 On May 20, 2018 the Board approved to extend the expiration date of 5,000,000 options issued to Zhiguo Wang and 2,488,737 options issued to Guifang Qi from September 30, 2018 to December 31, 2019. The Company treated this extension as a modification of the award upon the directors’ extraordinary services rendered to the Company and recognized incremental compensation cost. The Company measured the incremental compensation cost as the excess of the fair value of the modified award over the fair value of the original award immediately before its terms were modified. As a result of these modifications, the Company recognized incremental compensation cost of $1,059,987 in stock-based compensation expense during the nine months ended September 30, 2018, and the weighted average remaining contractual life was changed to 1.25 years. On July 20, 2018, the Company issued 200,000 shares of common stock to Xuehai Wu, a director, for the exercise of the stock options with an exercise price of $0.20 granted to him pursuant to the stock option agreement entered into on July 18, 2014. The Company received the proceeds in the amount of $40,000 on July 19, 2018. The following table summarizes the shares of the Company’s common stock issuable upon exercise of options outstanding at September 30, 2018: Stock Options Outstanding Stock Options Exercisable Range of Number Weighted Weighted Number Weighted $ 0.20-0.25 9,168,737 1.25 $ 0.22 9,068,737 $ 0.22 The Company’s outstanding stock options and exercisable stock options had no intrinsic value based upon the Company’s closing stock price of $0.20 as of September 30, 2018. Stock option expense recognized during the nine months ended September 30, 2018 and 2017 amounted to $1,067,548 and $94,177, respectively. The value of options was calculated using Black Scholes Option Pricing Model based upon the following assumptions: dividend yield of 0%, volatility of 91%-212%, risk free rate of 0.14%-2.58%, and expected term of 0.12-3.03 years. |
Earnings Per Share
| Earnings Per Share | 9 Months Ended |
| Sep. 30, 2018 | |
| Earnings Per Share [Abstract] | |
| EARNINGS PER SHARE | NOTE 8 - EARNINGS PER SHARE Under the provisions of ASC 260, “Earnings Per Share”, basic income per common share is computed by dividing net income attributable to common shareholders by the weighted average number of shares of common stock outstanding for the periods presented. Diluted income per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that would then share in the income of the company, subject to anti-dilution limitations. The following table presents a reconciliation of basic and diluted net income per share for the three and nine months ended September 30, 2018 and 2017: For the Three Months Ended For the Nine Months Ended 2018 2017 2018 2017 Net income (loss) available to common stockholders for basic and diluted net income per share of common stock $ (380,818 ) $ 614,407 $ 1,381,376 $ 11,039,824 Weighted average common stock outstanding - basic 52,018,478 51,875,000 51,923,352 51,875,000 Effect of dilutive securities: Non-vested restricted common stock - - - - Stock options issued to directors/officers/employees - 2,686,533 2,884,928 2,090,264 Weighted average common stock outstanding - diluted 52,018,478 54,561,533 54,808,280 53,965,264 Net income per common share - basic $ (0.01 ) $ 0.01 $ 0.03 $ 0.21 Net income per common share - diluted $ (0.01 ) $ 0.01 $ 0.03 $ 0.20 Diluted net income per share is computed using the weighted average number of common shares and dilutive potential common shares outstanding during the respective periods. The potentially dilutive securities that were not included in the calculation of diluted net income per share in the periods presented where their inclusion would be anti-dilutive included options to purchase common shares of 0 and 1,961,436 on a weighted average basis for the three months ended September 30, 2018 and 2017, respectively; and option to purchase common shares of 0 and 244,322 on a weighted average basis for the nine months ended September 30, 2018 and 2017, respectively. |
Concentrations of Credit Risk a
| Concentrations of Credit Risk and Major Customers | 9 Months Ended |
| Sep. 30, 2018 | |
| Concentrations of Credit Risk and Major Customers [Abstract] | |
| CONCENTRATIONS OF CREDIT RISK AND MAJOR CUSTOMERS | NOTE 9 - CONCENTRATIONS OF CREDIT RISK AND MAJOR CUSTOMERS Customers For the nine months ended September 30, 2018 and 2017, customers accounting for 10% or more of the Company’s revenue were as follows: For the Nine Months Ended Customer 2018 2017 A (Yew Pharmaceutical, a related party) 56.7 % 48.5 % B * % 47.5 % T 21.9 % * % * Less than 10% The two largest customers accounted for 76.9% and 99.3% of the Company’s total outstanding accounts receivable as of September 30, 2018 and December 31, 2017, respectively, of which Yew Pharmaceutical, a related party, accounted for 27.7% and 68.3% of the total outstanding accounts receivable, respectively; customer B accounted for 31.0% of total outstanding accounts receivable at December 31, 2017 and customer T accounted for 49.2% of the total outstanding accounts receivable at September 30, 2018. Suppliers For the nine months ended September 30, 2018 and 2017, suppliers accounting for 10% or more of the Company’s purchase were as follows: For the Nine Months Ended Supplier 2018 2017 A (Yew Pharmaceutical, a related party) 38.5 % 62 % C (Changzhi Du, a related party) * % 10 % Q (Heilongjiang Zishan Technology Co., Ltd., a related party) 12 % * % Accounts payable to supplier D, a related party, supplier K, and supplier J accounted for 60.2%, 11.6% and 13.4%, respectively, of the Company’s total accounts payable at December 31, 2017. Accounts payable to supplier I accounted for 63.5% of the Company’s total accounts payable at September 30, 2018. |
Related Party Transactions
| Related Party Transactions | 9 Months Ended |
| Sep. 30, 2018 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | NOTE 10 - RELATED PARTY TRANSACTIONS In addition to several of the Company’s officers and directors, the Company conducted transactions with the following related parties: Company Nature of Relationship Heilongjiang Zishan Technology Co., Ltd. (“ZTC”) 51% owned by Heilongjiang Hongdoushan Ecology Forest Co., Ltd., 34% owned by Zhiguo Wang, Chairman and Chief Executive Officer, 11% owned by Guifang Qi, the wife of Mr. Wang and director of the Company, and 4% owned by third parties. Heilongjiang Yew Pharmaceutical Co., Ltd. (“Yew Pharmaceutical”) 95% owned by Heilongjiang Hongdoushan Ecology Forest Stock Co., Ltd., and 5% owned by Madame Qi. Shanghai Kairun Bio-Pharmaceutical Co., Ltd. (“Kairun”) 60% owned by Heilongjiang Zishan Technology Co., Ltd., 20% owned by Heilongjiang Hongdoushan Ecology Forest Stock Co., Ltd., and 20% owned by Mr. Wang. Heilongjiang Hongdoushan Ecology Forest Co., Ltd. (“HEFS”) 63% owned by Mr. Wang, 34% owned by Madame Qi, and 3% owned by third parties. Hongdoushan Bio-Pharmaceutical Co., Ltd. (“HBP”) 30% owned by Mr. Wang, 19% owned by Madame Qi and 51% owned by HEFS Heilongjiang Pingshan Hongdoushan Development Co., Ltd. (“HDS Development”) 80% owned by HEFS and 20% owned by Kairun Wuchang City Xinlin Forestry Co., Ltd. (Xinlin) 98% owned by ZTC and 2% owned by HEFS effective March 21, 2016 Changzhi Du Legal person of Xinlin before March 1, 2017 Jinguo Wang Management of HDS, legal person of Xinlin before February 9, 2018, and director of ZTC effective February 1, 2018. Others Individuals who have significant influence on the Company Wonder Genesis Global Ltd. Jinguo Wang is the Company’s director before June 10, 2018 Lifeforfun Limited Yuqi Mao, the former family member of Yicheng Wang, is the Lifeforfun Limited’s director. Land use rights and yew forest assets purchased from related parties Yew forest assets purchased from related parties which are included in land use rights and yew forest assets as of September 30, 2018 and December 31, 2017 are as follows: September 30, December 31, 2018 2017 Land use rights, net $ 305,369 $ 325,737 Yew forest assets, net 10,897,297 3,210,195 Yew forest assets - related parties, net 19,885,154 2,834,006 Total $ 31,087,820 $ 6,369,938 Transactions with Yew Pharmaceutical On January 9, 2010, the Company entered into a Cooperation and Development Agreement (the “Development Agreement”) with Yew Pharmaceutical. Pursuant to the Development Agreement, for a period of ten years expiring on January 9, 2020, the Company shall supply cultivated yew raw materials to Yew Pharmaceutical that will be used by Yew Pharmaceutical to make traditional Chinese medicines and other pharmaceutical products, at price of RMB 1,000,000 (approximately $158,000) per metric ton. In addition, the Company entered into a series of wood ear mushroom selling agreements with Yew Pharmaceuticals, pursuant to which the Company sells wood ear mushroom collected from local peasants to Yew Pharmaceuticals for manufacturing of wood ear mushroom products. Furthermore, the Company entered into a series of yew candles, yew essential oil soaps, complex taxus cuspidate extract, composite northeast yew extract and pine needle extracts purchase agreements with Yew Pharmaceuticals, pursuant to which the Company purchases yew candles and pine needle extracts as finished goods and then sells to third party and related party. For the nine months ended September 30, 2018 and 2017, total revenues to Yew Pharmaceutical under the above agreement amounted to $ 18,075,032 and $17,011,006 and corresponding cost of revenues amounted to $13,863,380 and $5,031,433, respectively. At September 30, 2018 and December 31, 2017, the Company had $3,728,148 and $21,647,828 accounts receivable from Yew Pharmaceutical, respectively. For the nine months ended September 30, 2018 and 2017, the total purchase of yew candles, pine needle extracts, composite northeast yew extract and mixed essential oil from Yew Pharmaceutical amounted to $18,033,411 and $14,934,540, respectively. For the nine months ended September 30, 2018 and 2017, the products HDS purchased from Yew Pharmaceutical in the amount of $11,042,307 and $17,804,944 were sold and included in the total cost of revenues. For the nine months ended September 30, 2018 and 2017, HYF did not purchase any wood ear mushroom from Yew Pharmaceutical. For the nine months ended September 30, 2018 and 2017, the products HYF purchased from Yew Pharmaceutical in the amount of $482 and $20,698 were sold and included in the total cost of revenues. HYF had accounts payable of $0 and $50,318 to Yew Pharmaceutical at September 30, 2018 and December 31, 2017, respectively. At September 30, 2018 and December 31, 2017, HYF had $0 and $39,974, respectively, due to Yew Pharmaceutical, which represents an unsecured loan bearing no interest and payable on demand and was included in due to related parties in the accompanying consolidated balance sheets. Transactions with HBP For the nine months ended September 30, 2018 and 2017, HBP paid off operation expense on behalf of HYF in the amount of $5,834 and $34,341, respectively. As of September 30, 2018 and December 31, 2017, HYF had due to HBP in the amount of $101,898 and $101,697, respectively, which was included in due to related parties in the accompanying consolidated balance sheets. Transactions with HDS Development For the nine months ended September 30, 2018 and 2017, total revenues to HDS Development amounted to $1,842,271 and $0, and corresponding cost of revenues amounted to $1,390,834 and $0, respectively. At September 30, 2018 and December 31, 2017, the Company had $1,747,615 and $0 accounts receivable from HDS Development, respectively. Transactions with Wonder Genesis Global Ltd. For the nine months ended September 30, 2018 and 2017, total revenues to Wonder Genesis Global Ltd. amounted to $2,591,681 and $1,352,660, and the corresponding cost of revenues amounted to $2,574,537 and $1,422,036, respectively. As of September 30, 2018 and December 31, 2017, the Company had $0 and $199,905 accounts receivable from Wonder Genesis Global Ltd., respectively. Transactions with Lifeforfun Limited For the nine months ended September 30, 2018 and 2017, total revenues to Lifeforfun Limited amounted to $1,176,975 and $0, and the corresponding cost of revenues amounted to $1,144,367 and $0, respectively. As of September 30, 2018 and December 31, 2017, the Company had $1,116,503 and $0 accounts receivable from Lifeforfun Limited, respectively. Transactions with ZTC During the nine months ended September 30, 2018 and 2017, HDS purchased yew forest assets from ZTC in the amount of $5,616,194 and $0, respectively. At September 30, 2018 and December 31, 2017, the Company had zero balance payable to ZTC. Transactions with Xinlin During the nine months ended September 30, 2018 and 2017, HDS purchased yew forest assets from Xinlin in the amount of $2,622,473 and $0, respectively. At September 30, 2018 and December 31, 2017, the Company had zero balance payable to Xinlin. Transactions with Changzhi Du During the nine months ended September 30, 2018 and 2017, HDS purchased yew forest assets from Changzhi Du in the amount of $1,317,224 and purchased yew seedlings from Changzhi Du in the amount of $2,395,051, respectively. As of September 30, 2018 and December 31, 2017, the Company had zero balance payable to Changzhi Du. Transactions with Jinguo Wang During the nine months ended September 30, 2018 and 2017, HDS purchased yew forest assets from Jinguo Wang in the amount of $1,426,873 and purchased yew seedlings from Jinguo Wang in the amount of $25,934, respectively. As of September 30, 2018 and December 31, 2017, the Company had zero balance payable to Jinguo Wang. Transactions with Guifang Qi During the nine months ended September 30, 2018 and 2017, HDS purchased yew forest assets from Guifang Qi in the amount of $1,869,130 and $0, respectively. As of September 30, 2018 and December 31, 2017, the Company had zero balance payable to Guifang Qi. Transactions with Zhiguo Wang During the nine months ended September 30, 2018 and 2017, HDS purchased yew forest assets from Zhiguo Wang in the amount of $1,289,590 and $0, respectively. As of September 30, 2018 and December 31, 2017, the Company had zero balance payable to Zhiguo Wang. Transactions with Others During the nine months ended September 30, 2018 and 2017, HDS purchased yew forest from others in the amount of $3,549,966 and purchased yew seedlings from others in the amount of $8,743,172, respectively. As of September 30, 2018 and December 31, 2017, the Company had accounts payable to others in the amount of $0 and $307,390, respectively, which was included in the accounts payable-related parties in the accompanying consolidated balance sheets. During the nine months ended September 30, 2018 and 2017, HDS prepaid $35,488 and $0 to others for purchase of yew forests, respectively, which was included in the long-term prepaid expenses-related party in the accompanying consolidated balance sheets. For the nine months ended September 30, 2018 and 2017, total revenues to others amounted to $27,082 and $0, and the corresponding cost of revenues amounted to $19,144 and $0, respectively. As of September 30, 2018 and December 31, 2017, the Company had no accounts receivable from others. Operating Leases On March 25, 2005, the Company entered into an Agreement for the Lease of Seedling Land with ZTC (the “ZTC Lease”). Pursuant to the ZTC Lease, the Company leased 361 mu of land from ZTC for a period of 30 years, expiring on March 24, 2035. Annual payments under the ZTC Lease are RMB162,450 (approximately $26,000). The payment for the first five years of the ZTC Lease was due prior to December 31, 2010 and beginning in 2011, the Company is required to make full payment for the land use rights in advance for each subsequent five-year period. For the nine months ended September 30, 2018 and 2017, rent expense related to the ZTC Lease amounted to $18,705 and $17,902, respectively. At September 30, 2018 and December 31, 2017, prepaid rent to ZTC amounted to $35,488 and $56,177, respectively, which was included in prepaid expenses-related parties in the accompanying consolidated balance sheets. On January 1, 2010, the Company entered into a lease for office space with Mr. Wang (the “Office Lease”). Pursuant to the Office Lease, annual payments of RMB15,000 (approximately $2,000) are due for each of the term. The term of the Office Lease is 15 years and expires on December 31, 2025. For the nine months ended September 30, 2018 and 2017, rent expense related to the Office Lease amounted to $1,727 and $1,653, respectively. As of September 30, 2018 and December 31, 2017, the unpaid rent was $3,421 and $1,881, respectively, which was included in due to related parties in the accompanying consolidated balance sheets. On July 1, 2012, the Company entered into a lease for office space with Zhiguo Wang (the “JSJ Lease”). Pursuant to the JSJ Lease, JSJ leases approximately 30 square meter of office space from Zhiguo Wang in Harbin. Rent under the JSJ Lease is RMB10,000 (approximately $1,600) annually. The term of the JSJ Lease is three years and expires on September 30, 2015. On July 1, 2015, the Company and Mr. Wang renewed the JSJ Lease. The renewed lease expires on September 30, 2018. On July 1, 2018, the Company renewed JSJ Lease for three years, which will now expire on June 30, 2021. Pursuant to the renewed lease agreement, the annual payment will be RMB 10,000 (approximately $1,600). For the nine months ended September 30, 2018 and 2017, rent expense related to the JSJ Lease amounted to $1,151 and $1,102, respectively. As of September 30, 2018 and December 31, 2017, the unpaid rent was $6,189 and $5,380, respectively, which was included in due to related parties in the accompanying consolidated balance sheets. On January 1, 2015, HYF entered into an lease agreement with HBP, pursuant to which HBP leases a warehouse, with an area of 225 square meters, and a workshop, with an area of 50 square meters, both of which are located at No.1 Zisan Road, Shangzhi economic development district, Shangzhi City, Heilongjiang Province, to HYF in exchange for no consideration for the period from January 1, 2015 to December 31, 2020. The Company leased office space from HDS Development in the A’cheng district in Harbin (the “A’cheng Lease”) on March 20, 2002. The A’cheng Lease is for a term of 23 years and expires on March 19, 2025. Pursuant to the A’cheng Lease, lease payment shall be made as follows: Period Annual lease amount Payment due date March 2002 to February 2012 RMB 25,000 Before December 2012 March 2012 to February 2017 RMB 25,000 Before December 2017 March 2017 to March 2025 RMB 25,000 Before December 2025 For the nine months ended September 30, 2018 and 2017, rent expense related to the A’cheng Lease amounted $2,879 and $2,635, respectively. At September 30, 2018 and December 31, 2017, the unpaid rent was $4,551 and $1,921, respectively, which was included in due to related parties in the accompanying consolidated balance sheets. The Company leased an apartment in the Nangang district (the “Jixing Lease”) in Harbin from Ms. Qi on October 1, 2016. The term of Jixing Lease is one year. On October 1, 2017, the Company and Ms. Qi renewed the Jixing Lease. The renewed lease expires on September 30, 2018. For the nine months ended September 30, 2018 and 2017, rent expense related to the Jixing Lease amounted $1,151 and $980, respectively. As of September 30, 2018 and December 31, 2017, the prepaid rent to Ms. Qi amounted to $121 and $1,025, respectively, which was included in prepaid expenses-related parties in the accompanying consolidated balance sheets. Due to Related Parties The Company’s officers, directors and other related parties, from time to time, provided advances to the Company for working capital purpose. These advances are usually short-term in nature, non-interest bearing, unsecured and payable on demand. Due to Zhiguo Wang and Madam Qi, excluding the unpaid rents disclosed above and the borrowings from Madame Qi as disclosed below, amounted to $41,051 at September 30, 2018 and December 31, 2017, which was included in due to related parties in the accompanying consolidated balance sheets. On May 15, 2015, the Company borrowed $648,000 from Madame Qi through the issuance of a subordinated promissory note. The note bears 2% interest per annum and shall be payable on or before November 15, 2015 (“Due Date”). Interest payment shall be made with principal on Due Date. On September 28, 2015, Madame Qi and the Company agreed to extend the Due Date to January 31, 2016, with the remaining terms of the note unchanged. On January 15, 2016, 2017 and 2018, the Company and Madame Qi entered into agreements to further extend the Due Date of the note to December 31, 2016, 2017 and 2018, respectively. During the nine months ended September 30, 2018 and 2017, the Company made repayments of $0 and $75,875 to Madame Qi, respectively. As of September 30, 2018 and December 31, 2017, the total borrowings including the interest were $428,095, which was included in due to related parties in the accompanying consolidated balance sheets. Research and Development Agreement The Company entered into a Technology Development Service Agreement dated January 1, 2010 (the “Technology Agreement”) with Kairun. The term of the Technology Agreement was two years. Under the Technology Agreement, Kairun provides the Company with testing and technologies regarding utilization of yew trees to extract taxol and develop higher concentration of taxol in the yew trees the Company grow and cultivate. For these services, the Company agreed to pay Kairun RMB200,000 (approximately $32,000) after the technologies developed by Kairun are tested and approved by the Company. The Company will retain all intellectual property rights in connection with the technologies developed by Kairun. Kairun may not provide similar services to any other party without the Company’s prior written consent. In February 2012, we entered into a supplemental agreement with Kairun, extending the term of the Technology Agreement indefinitely until project results specified in the original Technology Agreement have been achieved. Kairun is owned directly and indirectly primarily by Mr. Wang and Madame Qi. As of September 30, 2018, Kairun has not yet completed the services provided for in the Technology Agreement and, therefore, no payment was made to Kairun. |
Segment Information
| Segment Information | 9 Months Ended |
| Sep. 30, 2018 | |
| Segment Information [Abstract] | |
| SEGMENT INFORMATION | NOTE 11 - SEGMENT INFORMATION ASC 280 requires use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s management organizes segments within the company for making operating decisions and assessing performance. Reportable segments are based on products and services, geography, legal structure, management structure, or any other manner in which management disaggregates a company. For the nine months ended September 30, 2018 and 2017, the Company operated in four reportable business segments: (1) the TCM raw materials segment, consisting of the production and sale of yew raw materials or yew tree extracts used in the manufacture of TCM; (2) the yew tree segment, consisting of the growth and sale of yew tree seedlings and mature trees; (3) the handicrafts segment, consisting of the manufacture and sale of handicrafts and furniture made of yew timber; and (4) Others segment, consisting of the sales of yew candles, pine needle extracts, yew essential oil soap, complex taxus cuspidate extract, and composite northeast yew extract. The Company’s reportable segments are strategic business units that offer different products. They are managed separately based on the fundamental differences in their operations. All of the Company’s operations including the sales of yew candles, pine needle extracts, yew essential oil soap, complex taxus cuspidate extract and composite northeast yew extract are conducted in the PRC. Information with respect to these reportable business segments for the nine months ended September 30, 2018 and 2017 was as follows: For the Nine Months Ended September 30, 2018 2017 Revenues: TCM raw materials $ 19,917,303 $ 17,011,006 Yew trees 31,766 9,906 Handicrafts 1,520 5,284 Others 11,940,154 18,018,559 $ 31,890,743 $ 35,044,755 Cost of revenues: TCM raw materials $ 15,254,214 $ 5,031,434 Yew trees 19,747 7,897 Handicrafts 1,328 4,663 Others 11,318,025 18,141,202 $ 26,593,314 $ 23,185,196 Depreciation and amortization: TCM raw materials $ 364,903 $ 130,262 Yew trees 31,501 31,778 Handicrafts 709 679 Others 12,703 18,487 $ 409,816 $ 181,206 Net income (loss): TCM raw materials $ 4,069,973 $ 11,834,671 Yew trees 11,073 1,924 Handicrafts 146 576 Others (1,267,980 ) (797,347 ) $ 2,813,212 $ 11,039,824 Information with respect to these reportable business segments for the three months ended September 30, 2018 and 2017 was as follows: For the Three Months Ended September 30, 2018 2017 Revenues: TCM raw materials $ 5,168,573 $ 2,939,959 Yew trees - 9,906 Handicrafts 212 2,916 Others 8,870,452 8,612,134 $ 14,039,237 $ 11,564,915 Cost of revenues: TCM raw materials $ 4,236,907 $ 2,021,300 Yew trees - 7,897 Handicrafts 87 2,487 Others 8,337,666 8,783,315 $ 12,574,660 $ 10,814,999 Depreciation and amortization: TCM raw materials $ 171,415 $ 114,482 Yew trees 10,125 31,778 Handicrafts 226 676 Others 4,512 (12,228 ) $ 186,278 $ 134,708 Net income (loss): TCM raw materials $ 1,519,823 $ 1,021,374 Yew trees 1,019 1,924 Handicrafts 177 417 Others (470,001 ) (408,704 ) $ 1,051,018 $ 615,011 September 30, 2018 TCM raw materials Yew trees Handicrafts Others Total Identifiable long-lived assets, net $ 31,087,820 $ 420,329 $ 10,905 $ 95,185 $ 31,614,239 December 31, 2017 TCM raw materials Yew trees Handicrafts Others Total Identifiable long-lived assets, net $ 6,369,938 $ 474,961 $ 12,066 $ 92,530 $ 6,949,495 The Company does not allocate any selling, general and administrative expenses, other income/expenses to its reportable segments because these activities are managed at a corporate level. In addition, the specified amounts for interest expense and income tax expense are not included in the measure of segment profit or loss reviewed by the chief operating decision maker and these specified amounts are not regularly provided to the chief operating decision maker. Therefore, the Company has not disclosed interest expense and income tax expense for each reportable segment. Asset information by reportable segment is not reported to or reviewed by the chief operating decision maker and, therefore, the Company has not disclosed asset information for each reportable segment. The Company’s operations are located in the PRC. All revenues are derived from customers in the PRC. All of the Company’s operating assets are located in the PRC. |
Commitments and Contingencies
| Commitments and Contingencies | 9 Months Ended |
| Sep. 30, 2018 | |
| Commitments and Contingencies [Abstract] | |
| COMMITMENTS AND CONTINGENCIES | NOTE 12 - COMMITMENTS AND CONTINGENCIES Operating Lease On February 1, 2015, the Company entered into a lease for its U.S. principal office space in California. Pursuant to the office lease, the monthly payment of $3,039 is due on the first day of each month of the first year, $3,150 for each month of the second year and $3,261 for each month of the third year. The term of the lease is for 3 years and expires on January 31, 2018. On February 1, 2018, the Company renewed the lease and the lease expires on January 31, 2020. Pursuant to the renewed lease agreement, the monthly payment is $3,521 from February 1, 2018 to January 1, 2019, and $3,669 from February 1, 2019 to January 31, 2020. For the nine months ended September 30, 2018 and 2017, rent expense related to the U.S. principal office lease amounted to $35,687 and $30,348, respectively. On May 1, 2017, the Company entered into a lease for product exhibition and promotion space in California. The lease is on month by month basis and the monthly rent is $2,800. For the nine months ended September 30, 2018 and 2017, the related rent expense amounted to $25,006 and $14,000, respectively. On April 30, 2018, the Company entered into a lease for product sales space in California. The lease term is from May 11, 2018 to April 30, 2019. The lease includes a monthly base rent payment, due on the first day of each calendar month, and contingent rent, based on a percentage of sales in excess of specified target amounts. Pursuant to the lease agreement, the monthly base rent payment is $1,761 from May 11, 2018 to May 31, 2018, $2,600 from June 1, 2018 to October 30, 2018 and from January 1, 2019 to April 30, 2019, and $4,600 from November 1, 2018 to December 31, 2018. The contingent rent is recognized as rent expense when achievement of the specified sales that triggers the contingent rent is probable. For the nine months ended September 30, 2018, the related rent expense amounted to $14,761, and no contingent rent expense was incurred. See Note 10 for related party operating lease commitments. Seedling Purchase and Sale Long-Term Cooperation Agreement On November 25, 2010, HDS entered into a Seedling Purchase and Sale Long-Term Cooperation Agreement (the “Seedling Agreement”) with Wuchang City Xinlin Foresty Co., Ltd (“Xinlin”), pursuant to which HDS will sell yew seedlings to Xinlin at a price equal to 90% of HDS’s publicly-published wholesale prices. Xinlin has agreed to purchase from the Company 10,000 yew seedlings annually. For the nine months ended September 30, 2018 and 2017, the Company didn’t make any sales under the Seedling Agreement. |
Recent Accounting Pronouncement
| Recent Accounting Pronouncements | 9 Months Ended |
| Sep. 30, 2018 | |
| Recent Accounting Pronoucements [Abstract] | |
| RECENT ACCOUNTING PRONOUCEMENTS | NOTE 13 - RECENT ACCOUNTING PRONOUNCEMENTS In June 2018, the FASB issued ASU 2018-07, “ Compensation - Stock Compensation (Topic 718) - Improvements to Nonemployee Share-Based Payment Accounting In July 2018, the FASB issued ASU 2018-09, “Codification Improvements”, . In July 2018, the FASB issued ASU 2018-10, “Codification Improvements to Topic 842, Leases”. In July 2018, the FASB issued ASU 2018-11, “ Leases (Topic 842): Targeted Improvements” |
Joint Venture Agreement for Pla
| Joint Venture Agreement for Planting of Yew Trees | 9 Months Ended |
| Sep. 30, 2018 | |
| Joint Venture Agreement For Planting Of Yew Trees [Abstract] | |
| JOINT VENTURE AGREEMENT FOR PLANTING OF YEW TREES | NOTE 14 - JOINT VENTURE AGREEMENT FOR PLANTING OF YEW TREES On June 14, 2018, HDS entered into a Joint Venture Planting Agreement (the “Joint Venture Agreement”) with Qing’An National Forestry Administration (“Qing’An Forestry”), pursuant to which the Qing’An Forestry has given HDS access to 10,729.5 mu of forest land located in Qing’An County, Suihua City, Heilongjiang Province to develop yew tree forests and produce yew seedlings. The Company is required to plant yew trees on this land from June 14, 2018 to June 13, 2038. Any gross revenues from the planting of yew tree shall be distributed 80% to the Company and 20% to the Qing’An Forestry. The Company accounts for this Joint Venture Agreement as a collaborative arrangement under ASC 808, “Collaborative Arrangements” and related topics and will record revenue on a gross basis as the prime contractor. For the nine months ended September 30, 2018, the Company has not generated any revenues or activities on this land. |
Subsequent Events
| Subsequent Events | 9 Months Ended |
| Sep. 30, 2018 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | NOTE 15 – SUBSEQUENT EVENTS On October, 18 2018, HDS repaid the loan from SPD Bank in an amount of RMB 10,000,000 (approximately $1,509,000). On October 15, 2018, HDS repaid the loan to CEB in an amount of $359,000 and draw down additional borrowings from CEB in a total amount of $1,090,000. The Company has evaluated all other subsequent events through the date these consolidated financial statements were issued and determine that there were no other subsequent events or transactions that require recognition or disclosures in the consolidated financial statements. |
Organization and Principal Ac_2
| Organization and Principal Activities (Tables) | 9 Months Ended |
| Sep. 30, 2018 | |
| Organization and Principal Activities [Abstract] | |
| Schedule of company's subsidiaries, variable interest entity ("VIE") and VIE's subsidiary | Name Domicile and Date of Incorporation Registered Effective Principal Heilongjiang Jinshangjing Bio-Technology Development Co., Limited (“JSJ”) PRC US$100,000 100 % Holding company Yew Bio-Pharm Holdings Limited (“Yew Bio-Pharm (HK)”) Hong Kong HK$10,000 100 % Holding company of JSJ Harbin Yew Science and Technology Development Co., Ltd. (“HDS”) PRC RMB45,000,000 Contractual arrangements Sales of yew tree components for use in pharmaceutical industry; sales of yew tree seedlings; the manufacture of yew tree wood handicrafts; and the sales of candle, pine needle extract, yew essential oil soap, complex taxus cuspidate extract, and northeast yew extract Harbin Yew Food Co., Ltd (“HYF”) PRC RMB100,000 100 %(1) Sales of wood ear mushroom drink MC Commerce Holding Inc. (“MC”) State of California, 100 %(2) Sales of yew oil candles and yew oil soaps (1) Wholly-owned subsidiary of HDS (2) 51% owned by YBP and 49% owned by HDS |
Principles of Consolidation (Ta
| Principles of Consolidation (Tables) | 9 Months Ended |
| Sep. 30, 2018 | |
| Principles of Consolidation [Abstract] | |
| Schedule of carrying amount and classification of the assets and liabilities in the Company's balance sheets that relate to the Company's VIE and VIE's subsidiary | September 30, December 31, Assets Cash $ 487,809 $ 798,514 Accounts receivable 6,616,158 9,841,841 Accounts receivable - related parties 6,592,266 21,847,733 Inventories (current and long-term), net 6,077,191 10,680,304 Prepaid expenses and other assets 44,115 26,637 Prepaid expenses - related parties 35,488 57,202 Property and equipment, net 522,009 573,563 Land use rights and yew forest assets, net 31,042,461 6,326,529 VAT recoverables 1,056,483 170,564 Total assets of VIE and its subsidiary $ 52,473,980 $ 50,322,887 Liabilities Accrued expenses and other payables $ 303,357 $ 162,004 Accounts payable 534,247 17,727 Accounts payable - related parties 14,563 357,708 Advance from customers 27,602 - Due to VIE holding companies 559,343 590,300 Short-term borrowings 6,512,038 6,099,876 Deferred income 340,785 359,646 Due to related parties 109,991 145,474 Total liabilities of VIE and its subsidiary $ 8,401,926 $ 7,732,735 |
Inventories (Tables)
| Inventories (Tables) | 9 Months Ended |
| Sep. 30, 2018 | |
| Inventories [Abstract] | |
| Schedule of inventories | September 30, 2018 December 31, 2017 Current portion Long-term portion Total Current portion Long-term portion Total Raw materials $ 39,807 $ 2,512,232 $ 2,552,039 $ 62,548 $ 2,651,272 $ 2,713,820 Finished goods 6,745,331 577,373 7,322,704 2,475,709 588,444 3,064,153 Yew seedlings and Other trees - 1,203,700 1,203,700 47,913 10,036,658 10,084,571 Total 6,785,138 4,293,305 11,078,443 2,586,170 13,276,374 15,862,544 Inventory write-down (300 ) (2,592,508 ) (2,592,808 ) (6,980 ) (2,729,726 ) (2,736,706 ) Inventories, net $ 6,784,838 $ 1,700,797 $ 8,485,635 $ 2,579,190 $ 10,546,648 $ 13,125,838 |
| Schedule of inventory purchased from related parties | September 30, December 31, 2018 2017 Inventories, net $ 962,185 $ 1,022,452 Inventories - related parties, net 5,822,653 1,556,738 Total $ 6,784,838 $ 2,579,190 September 30, December 31, 2018 2017 Long-term inventories, net $ 1,700,797 $ 3,375,247 Long-term inventories - related parties, net - 7,171,401 Total $ 1,700,797 $ 10,546,648 |
Taxes (Tables)
| Taxes (Tables) | 9 Months Ended |
| Sep. 30, 2018 | |
| Taxes [Abstract] | |
| Summary of difference between the U.S. statutory federal tax rate and company's effective tax rate | Nine Months Ended 2018 2017 U.S. federal income tax rate 21.00 % 34.00 % Foreign income not recognized in the U.S. (21.00 )% (34.00 )% PRC EIT rate 25.00 % 25.00 % PRC tax exemption and reduction (37.81 )% (26.20 )% Income tax difference under different tax jurisdictions 12.66 % 1.08 % Valuation allowance 0.15 % 0.12 % Effective tax rate - - |
| Summary of net deferred tax assets | September 30, December 31, Net operating loss carry-forwards $ 140,000 $ 2,541,363 Inventory write-down 648,127 614,625 Valuation allowance (788,127 ) (3,155,988 ) Non-current deferred tax assets $ - $ - |
Stockholders' Equity (Tables)
| Stockholders' Equity (Tables) | 9 Months Ended |
| Sep. 30, 2018 | |
| Stockholders' Equity [Abstract] | |
| Schedule of stock option activities | Nine Months Ended Nine Months Ended Number of Stock Options Weighted Average Exercise Price Number of Stock Options Weighted Average Exercise Price Balance at beginning of period 24,872,212 0.22 25,325,512 0.22 Issued - - 50,000 0.25 Exercised 200,000 - - - Expired 15,503,475 0.22 - - Forfeited - - - - Balance at end of period 9,168,737 0.22 25,375,512 0.22 Option exercisable at end of period 9,068,737 0.22 24,465,012 0.22 |
| Schedule of common stock issuable upon exercise of options outstanding | Stock Options Outstanding Stock Options Exercisable Range of Number Weighted Weighted Number Weighted $ 0.20-0.25 9,168,737 1.25 $ 0.22 9,068,737 $ 0.22 |
Earnings Per Share (Tables)
| Earnings Per Share (Tables) | 9 Months Ended |
| Sep. 30, 2018 | |
| Earnings Per Share [Abstract] | |
| Schedule of reconciliation of basic and diluted net income per share | For the Three Months Ended For the Nine Months Ended 2018 2017 2018 2017 Net income (loss) available to common stockholders for basic and diluted net income per share of common stock $ (380,818 ) $ 614,407 $ 1,381,376 $ 11,039,824 Weighted average common stock outstanding - basic 52,018,478 51,875,000 51,923,352 51,875,000 Effect of dilutive securities: Non-vested restricted common stock - - - - Stock options issued to directors/officers/employees - 2,686,533 2,884,928 2,090,264 Weighted average common stock outstanding - diluted 52,018,478 54,561,533 54,808,280 53,965,264 Net income per common share - basic $ (0.01 ) $ 0.01 $ 0.03 $ 0.21 Net income per common share - diluted $ (0.01 ) $ 0.01 $ 0.03 $ 0.20 |
Concentrations of Credit Risk_2
| Concentrations of Credit Risk and Major Customers (Tables) | 9 Months Ended |
| Sep. 30, 2018 | |
| Customers [Member] | |
| Concentration Risk [Line Items] | |
| Schedule of major customers and suppliers | For the Nine Months Ended Customer 2018 2017 A (Yew Pharmaceutical, a related party) 56.7 % 48.5 % B * % 47.5 % T 21.9 % * % * Less than 10% |
| Suppliers [Member] | |
| Concentration Risk [Line Items] | |
| Schedule of major customers and suppliers | For the Nine Months Ended Supplier 2018 2017 A (Yew Pharmaceutical, a related party) 38.5 % 62 % C (Changzhi Du, a related party) * % 10 % Q (Heilongjiang Zishan Technology Co., Ltd., a related party) 12 % * % |
Related Party Transactions (Tab
| Related Party Transactions (Tables) | 9 Months Ended |
| Sep. 30, 2018 | |
| Related Party Transactions [Abstract] | |
| Schedule of company's transactions with the related parties | Company Nature of Relationship Heilongjiang Zishan Technology Co., Ltd. (“ZTC”) 51% owned by Heilongjiang Hongdoushan Ecology Forest Co., Ltd., 34% owned by Zhiguo Wang, Chairman and Chief Executive Officer, 11% owned by Guifang Qi, the wife of Mr. Wang and director of the Company, and 4% owned by third parties. Heilongjiang Yew Pharmaceutical Co., Ltd. (“Yew Pharmaceutical”) 95% owned by Heilongjiang Hongdoushan Ecology Forest Stock Co., Ltd., and 5% owned by Madame Qi. Shanghai Kairun Bio-Pharmaceutical Co., Ltd. (“Kairun”) 60% owned by Heilongjiang Zishan Technology Co., Ltd., 20% owned by Heilongjiang Hongdoushan Ecology Forest Stock Co., Ltd., and 20% owned by Mr. Wang. Heilongjiang Hongdoushan Ecology Forest Co., Ltd. (“HEFS”) 63% owned by Mr. Wang, 34% owned by Madame Qi, and 3% owned by third parties. Hongdoushan Bio-Pharmaceutical Co., Ltd. (“HBP”) 30% owned by Mr. Wang, 19% owned by Madame Qi and 51% owned by HEFS Heilongjiang Pingshan Hongdoushan Development Co., Ltd. (“HDS Development”) 80% owned by HEFS and 20% owned by Kairun Wuchang City Xinlin Forestry Co., Ltd. (Xinlin) 98% owned by ZTC and 2% owned by HEFS effective March 21, 2016 Changzhi Du Legal person of Xinlin before March 1, 2017 Jinguo Wang Management of HDS, legal person of Xinlin before February 9, 2018, and director of ZTC effective February 1, 2018. Others Individuals who have significant influence on the Company Wonder Genesis Global Ltd. Jinguo Wang is the Company’s director before June 10, 2018 Lifeforfun Limited Yuqi Mao, the former family member of Yicheng Wang, is the Lifeforfun Limited’s director. |
| Schedule of land use rights and yew forest assets purchased from related parties | September 30, December 31, 2018 2017 Land use rights, net $ 305,369 $ 325,737 Yew forest assets, net 10,897,297 3,210,195 Yew forest assets - related parties, net 19,885,154 2,834,006 Total $ 31,087,820 $ 6,369,938 |
| Schedule of lease payment | Period Annual lease amount Payment due date March 2002 to February 2012 RMB 25,000 Before December 2012 March 2012 to February 2017 RMB 25,000 Before December 2017 March 2017 to March 2025 RMB 25,000 Before December 2025 |
Segment Information (Tables)
| Segment Information (Tables) | 9 Months Ended |
| Sep. 30, 2018 | |
| Segment Information [Abstract] | |
| Schedule of reportable business segments | For the Nine Months Ended September 30, 2018 2017 Revenues: TCM raw materials $ 19,917,303 $ 17,011,006 Yew trees 31,766 9,906 Handicrafts 1,520 5,284 Others 11,940,154 18,018,559 $ 31,890,743 $ 35,044,755 Cost of revenues: TCM raw materials $ 15,254,214 $ 5,031,434 Yew trees 19,747 7,897 Handicrafts 1,328 4,663 Others 11,318,025 18,141,202 $ 26,593,314 $ 23,185,196 Depreciation and amortization: TCM raw materials $ 364,903 $ 130,262 Yew trees 31,501 31,778 Handicrafts 709 679 Others 12,703 18,487 $ 409,816 $ 181,206 Net income (loss): TCM raw materials $ 4,069,973 $ 11,834,671 Yew trees 11,073 1,924 Handicrafts 146 576 Others (1,267,980 ) (797,347 ) $ 2,813,212 $ 11,039,824 For the Three Months Ended September 30, 2018 2017 Revenues: TCM raw materials $ 5,168,573 $ 2,939,959 Yew trees - 9,906 Handicrafts 212 2,916 Others 8,870,452 8,612,134 $ 14,039,237 $ 11,564,915 Cost of revenues: TCM raw materials $ 4,236,907 $ 2,021,300 Yew trees - 7,897 Handicrafts 87 2,487 Others 8,337,666 8,783,315 $ 12,574,660 $ 10,814,999 Depreciation and amortization: TCM raw materials $ 171,415 $ 114,482 Yew trees 10,125 31,778 Handicrafts 226 676 Others 4,512 (12,228 ) $ 186,278 $ 134,708 Net income (loss): TCM raw materials $ 1,519,823 $ 1,021,374 Yew trees 1,019 1,924 Handicrafts 177 417 Others (470,001 ) (408,704 ) $ 1,051,018 $ 615,011 |
| Schedule of identifiable long-lived assets, net | September 30, 2018 TCM raw materials Yew trees Handicrafts Others Total Identifiable long-lived assets, net $ 31,087,820 $ 420,329 $ 10,905 $ 95,185 $ 31,614,239 December 31, 2017 TCM raw materials Yew trees Handicrafts Others Total Identifiable long-lived assets, net $ 6,369,938 $ 474,961 $ 12,066 $ 92,530 $ 6,949,495 |
Organization and Principal Ac_3
| Organization and Principal Activities (Details) - 9 months ended Sep. 30, 2018 | USD ($) | HKD ($) | CNY (¥) | |
| Heilongjiang Jinshangjing Bio-Technology Development Co., Limited ("JSJ") [Member] | ||||
| Schedule of company's subsidiaries, variable interest entity ("VIE") and VIE's subsidiary | ||||
| Domicile and Date of Incorporation | PRC October 29, 2009 | |||
| Registered Capital | $ | $ 100,000 | |||
| Effective Ownership, Percentage | 100.00% | |||
| Principal Activities | Holding company | |||
| Yew Bio-Pharm Holdings Limited ("Yew Bio-Pharm (HK)") [Member] | ||||
| Schedule of company's subsidiaries, variable interest entity ("VIE") and VIE's subsidiary | ||||
| Domicile and Date of Incorporation | Hong Kong November 29, 2010 | |||
| Registered Capital | $ | $ 10,000 | |||
| Effective Ownership, Percentage | 100.00% | |||
| Principal Activities | Holding company of JSJ | |||
| Harbin Yew Science and Technology Development Co., Ltd. ("HDS") [Member] | ||||
| Schedule of company's subsidiaries, variable interest entity ("VIE") and VIE's subsidiary | ||||
| Domicile and Date of Incorporation | PRC August 22, 1996 | |||
| Registered Capital | ¥ | ¥ 45,000,000 | |||
| Effective Ownership | Contractual arrangements | |||
| Principal Activities | Sales of yew tree components for use in pharmaceutical industry; sales of yew tree seedlings; the manufacture of yew tree wood handicrafts; and the sales of candle, pine needle extract, yew essential oil soap, complex taxus cuspidate extract, and northeast yew extract | |||
| Harbin Yew Food Co., Ltd ("HYF") [Member] | ||||
| Schedule of company's subsidiaries, variable interest entity ("VIE") and VIE's subsidiary | ||||
| Domicile and Date of Incorporation | PRC November 4, 2014 | |||
| Registered Capital | ¥ | ¥ 100,000 | |||
| Effective Ownership, Percentage | [1] | 100.00% | ||
| Principal Activities | Sales of wood ear mushroom drink | |||
| MC Commerce Holding Inc.("MC") [Member] | ||||
| Schedule of company's subsidiaries, variable interest entity ("VIE") and VIE's subsidiary | ||||
| Domicile and Date of Incorporation | State of California, United State September 8, 2016 | |||
| Effective Ownership, Percentage | [2] | 100.00% | ||
| Principal Activities | Sales of yew oil candles and yew oil soaps | |||
| [1] | Wholly-owned subsidiary of HDS | |||
| [2] | 51% owned by YBP and 49% owned by HDS | |||
Organization and Principal Ac_4
| Organization and Principal Activities (Details Textual) | Sep. 30, 2018 |
| Yew Bio-Pharm Holdings Limited ("Yew Bio-Pharm (HK)") [Member] | |
| Organization and Principal Activities (Textual) | |
| Effective Ownership, Percentage | 51.00% |
| Harbin Yew Science and Technology Development Co., Ltd. ("HDS") [Member] | |
| Organization and Principal Activities (Textual) | |
| Effective Ownership, Percentage | 49.00% |
Principles of Consolidation (De
| Principles of Consolidation (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
| Assets | ||
| Total assets of VIE and its subsidiary | $ 52,473,980 | $ 50,322,887 |
| Liabilities | ||
| Total liabilities of VIE and its subsidiary | 8,401,926 | 7,732,735 |
| Cash [Member] | ||
| Assets | ||
| Total assets of VIE and its subsidiary | 487,809 | 798,514 |
| Accounts receivable [Member] | ||
| Assets | ||
| Total assets of VIE and its subsidiary | 6,616,158 | 9,841,841 |
| Accounts receivable - related parties [Member] | ||
| Assets | ||
| Total assets of VIE and its subsidiary | 6,592,266 | 21,847,733 |
| Inventories (current and long-term), net [Member] | ||
| Assets | ||
| Total assets of VIE and its subsidiary | 6,077,191 | 10,680,304 |
| Prepaid expenses and other assets [Member] | ||
| Assets | ||
| Total assets of VIE and its subsidiary | 44,115 | 26,637 |
| Prepaid expenses - related parties [Member] | ||
| Assets | ||
| Total assets of VIE and its subsidiary | 35,488 | 57,202 |
| Property and equipment, net [Member] | ||
| Assets | ||
| Total assets of VIE and its subsidiary | 522,009 | 573,563 |
| Land use rights and yew forest assets, net [Member] | ||
| Assets | ||
| Total assets of VIE and its subsidiary | 31,042,461 | 6,326,529 |
| VAT recoverables [Member] | ||
| Assets | ||
| Total assets of VIE and its subsidiary | 1,056,483 | 170,564 |
| Accrued expenses and other payables [Member] | ||
| Liabilities | ||
| Total liabilities of VIE and its subsidiary | 303,357 | 162,004 |
| Accounts payable [Member] | ||
| Liabilities | ||
| Total liabilities of VIE and its subsidiary | 534,247 | 17,727 |
| Accounts payable - related parties [Member] | ||
| Liabilities | ||
| Total liabilities of VIE and its subsidiary | 14,563 | 357,708 |
| Advance from customers [Member] | ||
| Liabilities | ||
| Total liabilities of VIE and its subsidiary | 27,602 | |
| Due to VIE holding companies [Member] | ||
| Liabilities | ||
| Total liabilities of VIE and its subsidiary | 559,343 | 590,300 |
| Short-term borrowings [Member] | ||
| Liabilities | ||
| Total liabilities of VIE and its subsidiary | 6,512,038 | 6,099,876 |
| Deferred income [Member] | ||
| Liabilities | ||
| Total liabilities of VIE and its subsidiary | 340,785 | 359,646 |
| Due to related parties [Member] | ||
| Liabilities | ||
| Total liabilities of VIE and its subsidiary | $ 109,991 | $ 145,474 |
Principles of Consolidation (_2
| Principles of Consolidation (Details Textual) | 9 Months Ended |
| Sep. 30, 2018CNY (¥) | |
| Principles of Consolidation (Textual) | |
| Monthly consulting service fee as percentage of net income of HDS paid to JSJ | 100.00% |
| HDS obligation within 30 days after the end of each month, description | Within 30 days after the end of each month, HDS shall (a) deliver to JSJ the management accounts and operating statistics of HDS for such month, including the net income of HDS during such month (the "Monthly Net Income"), and (b) pay 80% of such Monthly Net Income to JSJ (each such payment, a "Monthly Payment"). |
| HDS obligation within 90 days after the end of each year, description | Within ninety (90) days after the end of each fiscal year, HDS shall (a) deliver to JSJ financial statements of HDS for such fiscal year, which shall be audited and certified by an independent certified public accountant approved by JSJ, and (b) pay an amount to JSJ equal to the shortfall, if any, of the aggregate net income of HDS for such fiscal year, as shown in such audited financial statements, as compared to the aggregate amount of the Monthly Payments paid by HDS to JSJ in such fiscal year. |
| Additional monthly payment to JSJ as percentage of net income of HDS | 80.00% |
| Business cooperation agreement, term | 10 years |
| Business cooperation agreement, expiration date | Nov. 5, 2020 |
| Notice period for termination of contract | 30 days |
| Execution of any major contract is limited under option agreement | Over RMB500,000 |
| Exclusive option agreement, term | 10 years |
| Exclusive option agreement, commencing date | Nov. 5, 2020 |
| Description of notice period for remedies for any breach in terms agreement | Within 20 days after the giving of notice of breach. |
| Shareholder's equity interests in HDS | ¥ 10 |
Inventories (Details)
| Inventories (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
| Sep. 30, 2018 | Dec. 31, 2017 | |
| Schedule of inventories | ||
| Inventories, net, Current portion | $ 6,784,838 | $ 2,579,190 |
| Inventories, net, Long-term portion | 1,700,797 | 10,546,648 |
| Inventory write-down, Current portion | (300) | (6,980) |
| Inventory write-down, Long-term portion | (2,592,508) | (2,729,726) |
| Inventory write-down, Total | (2,592,808) | (2,736,706) |
| Inventories, net, Total | 8,485,635 | 13,125,838 |
| Raw materials [Member] | ||
| Schedule of inventories | ||
| Inventories, net, Current portion | 39,807 | 62,548 |
| Inventories, net, Long-term portion | 2,512,232 | 2,651,272 |
| Inventories, net, Total | 2,552,039 | 2,713,820 |
| Finished goods [Member] | ||
| Schedule of inventories | ||
| Inventories, net, Current portion | 6,745,331 | 2,475,709 |
| Inventories, net, Long-term portion | 577,373 | 588,444 |
| Inventories, net, Total | 7,322,704 | 3,064,153 |
| Yew seedlings and Other trees [Member] | ||
| Schedule of inventories | ||
| Inventories, net, Current portion | 47,913 | |
| Inventories, net, Long-term portion | 1,203,700 | 10,036,658 |
| Inventories, net, Total | 1,203,700 | 10,084,571 |
| Total [Member] | ||
| Schedule of inventories | ||
| Inventories, net, Current portion | 6,785,138 | 2,586,170 |
| Inventories, net, Long-term portion | 4,293,305 | 13,276,374 |
| Inventories, net, Total | $ 11,078,443 | $ 15,862,544 |
Inventories (Details 1)
| Inventories (Details 1) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
| Inventories [Abstract] | ||
| Inventories, net | $ 962,185 | $ 1,022,452 |
| Inventories - related parties, net | 5,822,653 | 1,556,738 |
| Total | 6,784,838 | 2,579,190 |
| Long-term inventories, net | 1,700,797 | 3,375,247 |
| Long-term inventories - related parties, net | 7,171,401 | |
| Total | $ 1,700,797 | $ 10,546,648 |
Taxes (Details)
| Taxes (Details) | 9 Months Ended | |
| Sep. 30, 2018 | Sep. 30, 2017 | |
| Summary of difference between U.S. statutory federal tax rate and Company's effective tax rate | ||
| U.S. federal income tax rate | 21.00% | 34.00% |
| Foreign income not recognized in the U.S. | (21.00%) | (34.00%) |
| PRC EIT rate | 25.00% | 25.00% |
| PRC tax exemption and reduction | (37.81%) | (26.20%) |
| Income tax difference under different tax jurisdictions | 12.66% | 1.08% |
| Valuation allowance | 0.15% | 0.12% |
| Effective tax rate | ||
Taxes (Details 1)
| Taxes (Details 1) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
| Summary of net deferred tax assets | ||
| Net operating loss carry-forwards | $ 140,000 | $ 2,541,363 |
| Inventory write-down | 648,127 | 614,625 |
| Valuation allowance | (788,127) | (3,155,988) |
| Non-current deferred tax assets |
Taxes (Details Textual)
| Taxes (Details Textual) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |
| Dec. 22, 2017 | Sep. 30, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | |
| Taxes (Textual) | ||||
| United States federal income tax rate | 21.00% | 34.00% | ||
| PRC EIT rate | 25.00% | 25.00% | ||
| Description of tax exemption date | HDS has been named as a leading enterprise in the agricultural industry and awarded with a tax exemption through December 31, 2058. | |||
| U.S. corporate income tax, description | The Company recognized a one-time transition tax of $1,431,836 that represented management's estimate of the amount of U.S. corporate income tax based on the deemed repatriation to the United States of the Company's share of previously deferred earnings of certain non-U.S. subsidiaries of the Company mandated by the U.S. Tax Reform. The Company elected to pay the one-time transition tax over eight years commencing in 2018. | |||
| Controlled foreign corporations, description | GILTI is the excess of the shareholder's net CFC tested income over the net deemed tangible income return, which is currently defined as the excess of (1) 10 percent of the aggregate of the U.S. shareholder's pro rata share of the qualified business asset investment of each CFC with respect to which it is a U.S. shareholder over (2) the amount of certain interest expense taken into account in the determination of net CFC-tested income. | |||
| Maximum [Member] | ||||
| Taxes (Textual) | ||||
| United States federal income tax rate | 35.00% | |||
| Minimum [Member] | ||||
| Taxes (Textual) | ||||
| United States federal income tax rate | 21.00% | |||
| Hong Kong [Member] | ||||
| Taxes (Textual) | ||||
| Tax rate percentage | 16.50% | |||
Short-Term Borrowings (Details)
| Short-Term Borrowings (Details) | 3 Months Ended | 9 Months Ended | |||||||||||
| Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Aug. 06, 2018USD ($) | Aug. 06, 2018CNY (¥) | Dec. 31, 2017USD ($) | Nov. 15, 2017USD ($) | Nov. 15, 2017CNY (¥) | Dec. 22, 2016USD ($) | Dec. 22, 2016CNY (¥) | May 31, 2016USD ($) | May 31, 2016CNY (¥) | |
| Short-Term Borrowings (Textual) | |||||||||||||
| Loan interest rate | 4.10% | 4.10% | 5.873% | 5.873% | |||||||||
| Loans borrowed from CEB | $ 7,331,599 | $ 7,881,105 | |||||||||||
| Interest expense | $ (45,549) | $ (52,105) | $ (182,659) | (139,450) | |||||||||
| Minimum [Member] | |||||||||||||
| Short-Term Borrowings (Textual) | |||||||||||||
| Loan interest rate | 4.30% | 4.30% | |||||||||||
| Maximum [Member] | |||||||||||||
| Short-Term Borrowings (Textual) | |||||||||||||
| Loan interest rate | 4.60% | 4.60% | |||||||||||
| BOCOM [Member] | |||||||||||||
| Short-Term Borrowings (Textual) | |||||||||||||
| Bank loan amount | $ 1,471,000 | ¥ 10,000,000 | |||||||||||
| Loan interest rate | 5.873% | 5.873% | |||||||||||
| SPD Bank [Member] | |||||||||||||
| Short-Term Borrowings (Textual) | |||||||||||||
| Bank loan amount | $ 1,509,000 | ¥ 10,000,000 | |||||||||||
| Loan interest rate | 4.10% | 4.10% | |||||||||||
| CEB [Member] | |||||||||||||
| Short-Term Borrowings (Textual) | |||||||||||||
| Bank loan amount | $ 2,880,000 | ¥ 20,000,000 | |||||||||||
| Loans borrowed from CEB | $ 4,406,000 | 6,410,000 | |||||||||||
| Total amount paid off | 5,133,000 | $ 3,540,000 | |||||||||||
| Balance of short-term loans | $ 2,143,000 | $ 2,143,000 | $ 2,870,000 | ||||||||||
| Yingkou Bank [Member] | |||||||||||||
| Short-Term Borrowings (Textual) | |||||||||||||
| Bank loan amount | $ 2,192,000 | ¥ 15,000,000 | |||||||||||
| Loan interest rate | 5.4375% | 5.4375% | |||||||||||
Stockholders' Equity (Details)
| Stockholders' Equity (Details) - $ / shares | 9 Months Ended | |
| Sep. 30, 2018 | Sep. 30, 2017 | |
| Summary of stock option activities | ||
| Number of Stock Options, Beginning balance | 24,872,212 | 25,325,512 |
| Number of Stock Options, Issued | 50,000 | |
| Number of Stock Options, Exercised | 200,000 | |
| Number of Stock Options, Expired | 15,503,475 | |
| Number of Stock Options, Forfeited | ||
| Number of Stock Options, Ending balance | 9,168,737 | 25,375,512 |
| Number of Stock Options, Options exercisable | 9,068,737 | 24,465,012 |
| Weighted Average Exercise Price, Beginning balance | $ 0.22 | $ 0.22 |
| Weighted Average Exercise Price, Issued | 0.25 | |
| Weighted Average Exercise Price, Exercised | ||
| Weighted Average Exercise Price, Expired | 0.22 | |
| Weighted Average Exercise Price, Forfeited | ||
| Weighted Average Exercise Price, Ending balance | 0.22 | 0.22 |
| Weighted Average Exercise Price, Options exercisable | $ 0.22 | $ 0.22 |
Stockholders' Equity (Details 1
| Stockholders' Equity (Details 1) | 9 Months Ended |
| Sep. 30, 2018$ / sharesshares | |
| Summary of common stock issuable upon exercise of options outstanding | |
| Stock Options Outstanding, Range of Exercise Price, Minimum | $ 0.20 |
| Stock Options Outstanding, Range of Exercise Price, Maximum | $ 0.25 |
| Stock Options Outstanding, Number Outstanding | shares | 9,168,737 |
| Stock Options Outstanding, Weighted Average Remaining Contractual Life (Years) | 1 year 2 months 30 days |
| Stock Options Outstanding, Weighted Average Exercise Price | $ 0.22 |
| Stock Options Exercisable, Number Exercisable | shares | 9,068,737 |
| Stock Options Exercisable, Weighted Average Exercise Price | $ 0.22 |
Stockholders' Equity (Details T
| Stockholders' Equity (Details Textual) - USD ($) | Jul. 19, 2018 | Jul. 20, 2018 | May 20, 2018 | Sep. 30, 2018 | Sep. 30, 2017 |
| Stockholders' Equity (Textual) | |||||
| Stock option expense | $ 1,067,548 | $ 94,177 | |||
| Closing stock price | $ 0.20 | ||||
| Weighted average remaining contractual life changed | 1 year 2 months 30 days | ||||
| Zhiguo Wang [Member] | |||||
| Stockholders' Equity (Textual) | |||||
| Recognized incremental compensation cost | $ 1,059,987 | ||||
| Stock options issued | 5,000,000 | ||||
| Common stock issued | 5,000,000 | ||||
| Stock Option [Member] | |||||
| Stockholders' Equity (Textual) | |||||
| Stock options issued | 2,488,737 | ||||
| Dividend yield | 0.00% | ||||
| Common stock issued | 2,488,737 | ||||
| Stock Option [Member] | Xuehai Wu [Member] | |||||
| Stockholders' Equity (Textual) | |||||
| Stock options exercise price | $ 0.20 | ||||
| Proceeds amount received | $ 40,000 | $ 200,000 | |||
| Maximum [Member] | Stock Option [Member] | |||||
| Stockholders' Equity (Textual) | |||||
| Volatility rate | 212.00% | ||||
| Risk free rate | 2.58% | ||||
| Expected term | 3 years 11 days | ||||
| Minimum [Member] | Stock Option [Member] | |||||
| Stockholders' Equity (Textual) | |||||
| Volatility rate | 91.00% | ||||
| Risk free rate | 0.14% | ||||
| Expected term | 1 month 13 days |
Earnings Per Share (Details)
| Earnings Per Share (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
| Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
| Earnings Per Share [Abstract] | ||||
| Net income (loss) available to common stockholders for basic and diluted net income per share of common stock | $ (380,818) | $ 614,407 | $ 1,381,376 | $ 11,039,824 |
| Weighted average common stock outstanding - basic | 52,018,478 | 51,875,000 | 51,923,352 | 51,875,000 |
| Effect of dilutive securities: | ||||
| Non-vested restricted common stock | ||||
| Stock options issued to directors/officers/employees | 2,686,533 | 2,884,928 | 2,090,264 | |
| Weighted average common stock outstanding - diluted | 52,018,478 | 54,561,533 | 54,808,280 | 53,965,264 |
| Net income per common share - basic | $ (0.01) | $ 0.01 | $ 0.03 | $ 0.21 |
| Net income per common share - diluted | $ (0.01) | $ 0.01 | $ 0.03 | $ 0.20 |
Earnings Per Share (Details Tex
| Earnings Per Share (Details Textual) - shares | 3 Months Ended | 9 Months Ended | ||
| Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
| Earnings Per Share (Textual) | ||||
| Anti-dilutive including option to purchase common shares | 0 | 1,961,436 | 0 | 244,322 |
Concentrations of Credit Risk_3
| Concentrations of Credit Risk and Major Customers (Details) - Customers [Member] | 9 Months Ended | |||
| Sep. 30, 2018 | Sep. 30, 2017 | |||
| A (Yew Pharmaceutical, a related party) [Member] | ||||
| Summary of major customer accounting for 10% or more of the company's revenue | ||||
| Concentration of credit risk, percentage | 56.70% | 48.50% | ||
| B [Member] | ||||
| Summary of major customer accounting for 10% or more of the company's revenue | ||||
| Concentration of credit risk, percentage | [1] | 47.50% | ||
| T [Member] | ||||
| Summary of major customer accounting for 10% or more of the company's revenue | ||||
| Concentration of credit risk, percentage | 21.90% | [1] | ||
| [1] | Less than 10% | |||
Concentrations of Credit Risk_4
| Concentrations of Credit Risk and Major Customers (Details 1) - Suppliers [Member] | 9 Months Ended | |
| Sep. 30, 2018 | Sep. 30, 2017 | |
| A (Yew Pharmaceutical, a related party) [Member] | ||
| Summary of major suppliers | ||
| Concentration of credit risk, percentage | 38.50% | 62.00% |
| C (Changzhi Du, a related party) [Member] | ||
| Summary of major suppliers | ||
| Concentration of credit risk, percentage | 10.00% | |
| Q (Heilongjiang Zishan Technology Co., Ltd., a related party) [Member] | ||
| Summary of major suppliers | ||
| Concentration of credit risk, percentage | 12.00% | |
Concentrations of Credit Risk_5
| Concentrations of Credit Risk and Major Customers (Details Textual) | 9 Months Ended | 12 Months Ended | |
| Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
| Accounts payable [Member] | |||
| Concentrations of Credit Risk and Major Customer (Textual) | |||
| Concentration of credit risk, percentage | 10.00% | 10.00% | |
| Accounts payable [Member] | Supplier D [Member] | |||
| Concentrations of Credit Risk and Major Customer (Textual) | |||
| Concentration of credit risk, percentage | 60.20% | ||
| Accounts payable [Member] | Supplier K [Member] | |||
| Concentrations of Credit Risk and Major Customer (Textual) | |||
| Concentration of credit risk, percentage | 11.60% | ||
| Accounts payable [Member] | Supplier J [Member] | |||
| Concentrations of Credit Risk and Major Customer (Textual) | |||
| Concentration of credit risk, percentage | 13.40% | ||
| Accounts payable [Member] | Supplier I [Member] | |||
| Concentrations of Credit Risk and Major Customer (Textual) | |||
| Concentration of credit risk, percentage | 63.50% | ||
| Accounts receivable [Member] | |||
| Concentrations of Credit Risk and Major Customer (Textual) | |||
| Concentration of credit risk, percentage | 10.00% | 10.00% | |
| Accounts receivable [Member] | Yew Pharmaceutical [Member] | |||
| Concentrations of Credit Risk and Major Customer (Textual) | |||
| Concentration of credit risk, percentage | 76.90% | 99.30% | |
| Accounts receivable [Member] | Customer B [Member] | |||
| Concentrations of Credit Risk and Major Customer (Textual) | |||
| Concentration of credit risk, percentage | 27.70% | 68.30% | |
| Accounts receivable [Member] | Customer T [Member] | |||
| Concentrations of Credit Risk and Major Customer (Textual) | |||
| Concentration of credit risk, percentage | 49.20% | ||
Related Party Transactions (Det
| Related Party Transactions (Details) | 9 Months Ended |
| Sep. 30, 2018 | |
| Heilongjiang Zishan Technology Co., Ltd. ("ZTC") [Member] | |
| Schedule of company's transactions with the related parties | |
| Nature of Relationship, description | 51% owned by Heilongjiang Hongdoushan Ecology Forest Co., Ltd., 34% owned by Zhiguo Wang, Chairman and Chief Executive Officer, 11% owned by Guifang Qi, the wife of Mr. Wang and director of the Company, and 4% owned by third parties. |
| Heilongjiang Yew Pharmaceutical Co., Ltd. ("Yew Pharmaceutical") [Member] | |
| Schedule of company's transactions with the related parties | |
| Nature of Relationship, description | 95% owned by Heilongjiang Hongdoushan Ecology Forest Stock Co., Ltd., and 5% owned by Madame Qi. |
| Shanghai Kairun Bio-Pharmaceutical Co., Ltd. ("Kairun") [Member] | |
| Schedule of company's transactions with the related parties | |
| Nature of Relationship, description | 60% owned by Heilongjiang Zishan Technology Co., Ltd., 20% owned by Heilongjiang Hongdoushan Ecology Forest Stock Co., Ltd., and 20% owned by Mr. Wang. |
| Heilongjiang Hongdoushan Ecology Forest Co., Ltd. ("HEFS") [Member] | |
| Schedule of company's transactions with the related parties | |
| Nature of Relationship, description | 63% owned by Mr. Wang, 34% owned by Madame Qi, and 3% owned by third parties. |
| Hongdoushan Bio-Pharmaceutical Co., Ltd. ("HBP") [Member] | |
| Schedule of company's transactions with the related parties | |
| Nature of Relationship, description | 30% owned by Mr. Wang, 19% owned by Madame Qi and 51% owned by HEFS |
| Heilongjiang Pingshan Hongdoushan Development Co., Ltd. ("HDS Development") [Member] | |
| Schedule of company's transactions with the related parties | |
| Nature of Relationship, description | 80% owned by HEFS and 20% owned by Kairun |
| Wuchang City Xinlin Forestry Co., Ltd. (Xinlin) [Member] | |
| Schedule of company's transactions with the related parties | |
| Nature of Relationship, description | 98% owned by ZTC and 2% owned by HEFS effective March 21, 2016 |
| Changzhi Du [Member] | |
| Schedule of company's transactions with the related parties | |
| Nature of Relationship, description | Legal person of Xinlin before March 1, 2017 |
| Jinguo Wang [Member] | |
| Schedule of company's transactions with the related parties | |
| Nature of Relationship, description | Management of HDS, legal person of Xinlin before February 9, 2018, and director of ZTC effective February 1, 2018. |
| Others [Member] | |
| Schedule of company's transactions with the related parties | |
| Nature of Relationship, description | Individuals who have significant influence on the Company |
| Wonder Genesis Global Ltd. [Member] | |
| Schedule of company's transactions with the related parties | |
| Nature of Relationship, description | Jinguo Wang is the Company's director before June 10, 2018 |
| Lifeforfun Limited [Member] | |
| Schedule of company's transactions with the related parties | |
| Nature of Relationship, description | Yuqi Mao, the former family member of Yicheng Wang, is the Lifeforfun Limited's director. |
Related Party Transactions (D_2
| Related Party Transactions (Details 1) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
| Related Party Transactions [Abstract] | ||
| Land use rights, net | $ 305,369 | $ 325,737 |
| Yew forest assets, net | 10,897,297 | 3,210,195 |
| Yew forest assets - related parties, net | 19,885,154 | 2,834,006 |
| Total | $ 31,087,820 | $ 6,369,938 |
Related Party Transactions (D_3
| Related Party Transactions (Details 2) - A'cheng Lease [Member] | 9 Months Ended |
| Sep. 30, 2018CNY (¥) | |
| March 2002 to February 2012 [Member] | |
| Operating Leased Assets [Line Items] | |
| Annual lease amount | ¥ 25,000 |
| Payment due date | Before December 2012 |
| March 2012 to February 2017 [Member] | |
| Operating Leased Assets [Line Items] | |
| Annual lease amount | ¥ 25,000 |
| Payment due date | Before December 2017 |
| March 2017 to March 2025 [Member] | |
| Operating Leased Assets [Line Items] | |
| Annual lease amount | ¥ 25,000 |
| Payment due date | Before December 2025 |
Related Party Transactions (D_4
| Related Party Transactions (Details Textual) | Jul. 03, 2018USD ($) | Jul. 03, 2018CNY (¥) | May 15, 2015USD ($) | Jan. 01, 2015 | Jul. 01, 2012USD ($)m² | Jul. 01, 2012CNY (¥)m² | Jan. 09, 2010USD ($) | Jan. 09, 2010CNY (¥) | Jan. 01, 2010USD ($) | Jan. 01, 2010CNY (¥) | Mar. 25, 2005USD ($)a | Mar. 25, 2005CNY (¥)a | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($) | Nov. 15, 2017 | Jun. 30, 2017USD ($) | May 31, 2016 |
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Accounts receivable - related parties | $ 6,592,266 | $ 6,592,266 | $ 21,847,733 | |||||||||||||||||
| Operating leases, rent expense | 25,006 | $ 14,000 | ||||||||||||||||||
| Prepaid expenses - related party | 0 | |||||||||||||||||||
| Accounts payable | 0 | 0 | 357,708 | |||||||||||||||||
| Unpaid rent | 3,421 | 3,421 | 1,881 | |||||||||||||||||
| Debt interest rate | 4.10% | 5.873% | ||||||||||||||||||
| Repayment of debt | (4,432,593) | (3,617,764) | ||||||||||||||||||
| Cost of revenues to the third party | 12,574,660 | $ 10,814,999 | 26,593,314 | 23,185,196 | ||||||||||||||||
| Revenues from related party | 6,035,593 | $ 4,292,619 | $ 23,712,429 | 18,363,666 | ||||||||||||||||
| HDS [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Agreement expiration date | Mar. 19, 2025 | |||||||||||||||||||
| Agreement expiration period | 23 years | |||||||||||||||||||
| Agreement of Seedling Land with ZTC [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Agreement expiration date | Mar. 24, 2035 | Mar. 24, 2035 | ||||||||||||||||||
| Agreement expiration period | 30 years | 30 years | ||||||||||||||||||
| Leased area of land (Metric acre "Mu") | a | 361 | 361 | ||||||||||||||||||
| Annual payments under operating lease | $ 26,000 | ¥ 162,450 | ||||||||||||||||||
| Operating leases, rent expense | $ 18,705 | 17,902 | ||||||||||||||||||
| Office Lease [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Agreement expiration date | Dec. 31, 2025 | Dec. 31, 2025 | ||||||||||||||||||
| Agreement expiration period | 15 years | 15 years | ||||||||||||||||||
| Annual payments under operating lease | $ 2,000 | ¥ 15,000 | ||||||||||||||||||
| Operating leases, rent expense | 1,727 | 1,653 | ||||||||||||||||||
| JSJ Lease [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Agreement expiration date | Jun. 30, 2021 | Jun. 30, 2021 | Sep. 30, 2015 | Sep. 30, 2015 | ||||||||||||||||
| Agreement expiration period | 3 years | 3 years | 3 years | 3 years | ||||||||||||||||
| Leased Area | m² | 30 | 30 | ||||||||||||||||||
| Annual payments under operating lease | $ 1,600 | ¥ 10,000 | $ 1,600 | ¥ 10,000 | ||||||||||||||||
| Operating leases, rent expense | 1,151 | 1,102 | ||||||||||||||||||
| Unpaid rent | 6,189 | 6,189 | 5,380 | |||||||||||||||||
| Xinlin [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Amount payment to related party | 2,622,473 | 0 | ||||||||||||||||||
| Accounts payable | 0 | 0 | 0 | |||||||||||||||||
| A'cheng Lease [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Operating leases, rent expense | 2,879 | 2,635 | ||||||||||||||||||
| Unpaid rent | 4,551 | 4,551 | 1,921 | |||||||||||||||||
| Yew Pharmaceutical [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Accounts receivable - related parties | 3,728,148 | 3,728,148 | 21,647,828 | |||||||||||||||||
| Amount payment to related party | 18,033,411 | 14,934,540 | ||||||||||||||||||
| Amount includes cost of revenue | 11,042,307 | 17,804,944 | ||||||||||||||||||
| Yew Pharmaceutical [Member] | Harbin Yew Food Co., Ltd [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Accounts payable | 0 | 0 | 50,318 | |||||||||||||||||
| Unsecured loan | 0 | 0 | 39,974 | |||||||||||||||||
| Amount includes cost of revenue | 482 | 20,698 | ||||||||||||||||||
| Yew Pharmaceutical [Member] | Cooperation and Development Agreement [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Agreement expiration date | Jan. 9, 2020 | Jan. 9, 2020 | ||||||||||||||||||
| Agreement expiration period | 10 years | 10 years | ||||||||||||||||||
| Cultivation price per metric ton | $ 158,000 | ¥ 1,000,000 | ||||||||||||||||||
| Sales | 18,075,032 | 17,011,006 | ||||||||||||||||||
| Cost of revenues to the third party | 13,863,380 | 5,031,433 | ||||||||||||||||||
| Kairun [Member] | Technology Agreement [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Agreement expiration period | 2 years | 2 years | ||||||||||||||||||
| Payment made under agreement | $ 32,000 | ¥ 200,000 | ||||||||||||||||||
| Madam Qi [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Subordinated promissory note | $ 648,000 | |||||||||||||||||||
| Debt interest rate | 2.00% | |||||||||||||||||||
| Due date of borrowing debt | Nov. 15, 2015 | |||||||||||||||||||
| Total borrowings including the interest amount | 428,095 | 428,095 | 428,095 | |||||||||||||||||
| Repayment of debt | 0 | 75,875 | ||||||||||||||||||
| ZTC [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Prepaid expenses - related party | 35,488 | 35,488 | 56,177 | |||||||||||||||||
| Amount payment to related party | 5,616,194 | 0 | ||||||||||||||||||
| Accounts payable | 0 | 0 | 0 | |||||||||||||||||
| Zhiguo Wang [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Due to other shareholders | 41,051 | 41,051 | 41,051 | |||||||||||||||||
| Zhiguo Wang [Member] | HDS [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Amount payment to related party | 1,289,590 | 0 | ||||||||||||||||||
| Accounts payable | 0 | 0 | 0 | |||||||||||||||||
| HBP [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Lease agreement, description | Leases a warehouse, with an area of 225 square meters, and a workshop, with an area of 50 square meters, both of which are located at No.1 Zisan Road, Shangzhi economic development district, Shangzhi City, Heilongjiang Province, to HYF in exchange for no consideration for the period from January 1, 2015 to December 31, 2020. | |||||||||||||||||||
| HBP [Member] | Harbin Yew Food Co., Ltd [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Amount payment to related party | 5,834 | 34,341 | ||||||||||||||||||
| Unsecured loan | 101,898 | 101,898 | 101,697 | |||||||||||||||||
| Changzhi Du [Member] | HDS [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Amount payment to related party | 1,317,224 | 2,395,051 | ||||||||||||||||||
| Accounts payable | 0 | 0 | 0 | |||||||||||||||||
| Jinguo Wang [Member] | HDS [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Amount payment to related party | 1,426,873 | 25,934 | ||||||||||||||||||
| Accounts payable | 0 | 0 | 0 | |||||||||||||||||
| Wonder Genesis Global Ltd [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Sales | 2,591,681 | 1,352,660 | ||||||||||||||||||
| Accounts receivable - related parties | 0 | 0 | 199,905 | |||||||||||||||||
| Cost of revenues to the third party | 2,574,537 | 1,422,036 | ||||||||||||||||||
| Guifang Qi [Member] | HDS [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Amount payment to related party | 1,869,130 | 0 | ||||||||||||||||||
| Accounts payable | 0 | 0 | 0 | |||||||||||||||||
| Others [Member] | HDS [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Sales | 27,082 | 0 | ||||||||||||||||||
| Accounts receivable - related parties | 0 | 0 | 0 | |||||||||||||||||
| Prepaid expenses - related party | 35,488 | 35,488 | $ 0 | |||||||||||||||||
| Amount payment to related party | 3,549,966 | 8,743,172 | ||||||||||||||||||
| Accounts payable | 0 | 0 | 307,390 | |||||||||||||||||
| Cost of revenues to the third party | $ 19,144 | 0 | ||||||||||||||||||
| Jixing [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Agreement expiration date | Sep. 30, 2018 | |||||||||||||||||||
| Agreement expiration period | 1 year | |||||||||||||||||||
| Operating leases, rent expense | $ 1,151 | 980 | ||||||||||||||||||
| Ms. Qi [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Operating leases, rent expense | 121 | 1,025 | ||||||||||||||||||
| Lifeforfun Limited [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Sales | 1,176,975 | 0 | ||||||||||||||||||
| Accounts receivable - related parties | 1,116,503 | 1,116,503 | 0 | |||||||||||||||||
| Cost of revenues to the third party | 1,144,367 | 0 | ||||||||||||||||||
| HDS Development [Member] | ||||||||||||||||||||
| Related Party Transactions (Textual) | ||||||||||||||||||||
| Sales | 1,842,271 | 0 | ||||||||||||||||||
| Accounts receivable - related parties | $ 1,747,615 | 1,747,615 | $ 0 | |||||||||||||||||
| Cost of revenues to the third party | $ 1,390,834 | $ 0 |
Segment Information (Details)
| Segment Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
| Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
| Summary of reportable business segments | |||||
| Revenues: | $ 14,039,237 | $ 11,564,915 | $ 31,890,743 | $ 35,044,755 | |
| Cost of revenues: | 12,574,660 | 10,814,999 | 26,593,314 | 23,185,196 | |
| Depreciation and amortization: | 186,278 | 134,708 | 409,816 | 181,206 | |
| Net income (loss): | (380,818) | 614,407 | 1,381,376 | 11,039,824 | |
| Segment reporting information, Additional information | |||||
| Identifiable long-lived assets, net | 31,614,239 | 31,614,239 | $ 6,949,495 | ||
| TCM raw materials [Member] | |||||
| Summary of reportable business segments | |||||
| Revenues: | 5,168,573 | 2,939,959 | 19,917,303 | 17,011,006 | |
| Cost of revenues: | 4,236,907 | 2,021,300 | 15,254,214 | 5,031,434 | |
| Depreciation and amortization: | 171,415 | 114,482 | 364,903 | 130,262 | |
| Net income (loss): | 1,519,823 | 1,021,374 | 4,069,973 | 11,834,671 | |
| Segment reporting information, Additional information | |||||
| Identifiable long-lived assets, net | 31,087,820 | 31,087,820 | 6,369,938 | ||
| Yew trees [Member] | |||||
| Summary of reportable business segments | |||||
| Revenues: | 9,906 | 31,766 | 9,906 | ||
| Cost of revenues: | 7,897 | 19,747 | 7,897 | ||
| Depreciation and amortization: | 10,125 | 31,778 | 31,501 | 31,778 | |
| Net income (loss): | 1,019 | 1,924 | 11,073 | 1,924 | |
| Segment reporting information, Additional information | |||||
| Identifiable long-lived assets, net | 420,329 | 420,329 | 474,961 | ||
| Handicrafts [Member] | |||||
| Summary of reportable business segments | |||||
| Revenues: | 212 | 2,916 | 1,520 | 5,284 | |
| Cost of revenues: | 87 | 2,487 | 1,328 | 4,663 | |
| Depreciation and amortization: | 226 | 676 | 709 | 679 | |
| Net income (loss): | 177 | 417 | 146 | 576 | |
| Segment reporting information, Additional information | |||||
| Identifiable long-lived assets, net | 10,905 | 10,905 | 12,066 | ||
| Others [Member] | |||||
| Summary of reportable business segments | |||||
| Revenues: | 8,870,452 | 8,612,134 | 11,940,154 | 18,018,559 | |
| Cost of revenues: | 8,337,666 | 8,783,315 | 11,318,025 | 18,141,202 | |
| Depreciation and amortization: | 4,512 | (12,228) | 12,703 | 18,487 | |
| Net income (loss): | (470,001) | $ (408,704) | (1,267,980) | $ (797,347) | |
| Segment reporting information, Additional information | |||||
| Identifiable long-lived assets, net | $ 95,185 | $ 95,185 | $ 92,530 | ||
Segment Information (Details Te
| Segment Information (Details Textual) - Segments | 9 Months Ended | |
| Sep. 30, 2018 | Sep. 30, 2017 | |
| Segment Information (Textual) | ||
| Number of business segments | 4 | 4 |
Commitments and Contingencies (
| Commitments and Contingencies (Details) | Jun. 14, 2018 | May 01, 2017USD ($) | Apr. 30, 2018 | Feb. 01, 2018 | Feb. 01, 2015USD ($) | Nov. 25, 2010Seedlings | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) |
| Commitments and Contingencies (Textual) | ||||||||
| Term of lease | 20 years | 3 years | ||||||
| Lease expiration date | Jun. 13, 2038 | Jan. 31, 2018 | ||||||
| Rent expense related to U.S. principal office lease amount | $ 3,039 | $ 35,687 | $ 30,348 | |||||
| Payments of lease each month of second year | 3,150 | |||||||
| Payments of lease each month of third year | $ 3,261 | |||||||
| Percentage of HDS's publicly-published wholesale prices | 90.00% | |||||||
| Number of yew seedlings purchase annually by Xinlin | Seedlings | 10,000 | |||||||
| Lease for product exhibition and promotion related rent expense | $ 2,800 | |||||||
| Lease agreement, description | The Company renewed the lease and the lease expires on January 31, 2020. Pursuant to the renewed lease agreement, the monthly payment is $3,521 from February 1, 2018 to January 1, 2019, and $3,669 from February 1, 2019 to January 31, 2020. | |||||||
| Rent expense | 25,006 | 14,000 | ||||||
| Retail store [Member] | ||||||||
| Commitments and Contingencies (Textual) | ||||||||
| Term of lease, description | The lease term is from May 11, 2018 to April 30, 2019. | |||||||
| Lease agreement, description | Pursuant to the lease agreement, the base monthly rent payment is $1,761 from May 11, 2018 to May 31, 2018, $2,600 from June 1, 2018 to October 30, 2018 and from January 1, 2019 to April 30, 2019, and $4,600 from November 1, 2018 to December 31, 2018. | |||||||
| Rent expense | $ 14,761 |
Joint Venture Agreement for P_2
| Joint Venture Agreement for Planting of Yew Trees (Details) | Jun. 14, 2018a |
| Qingan Forestry [Member] | |
| Joint Venture Agreement For Planting Of Yew Trees [Line Items] | |
| Forest the land | 10,729.5 |
| Joint Venture Agreement [Member] | |
| Joint Venture Agreement For Planting Of Yew Trees [Line Items] | |
| Yew trees land period, description | The Company is required to plant yew trees on this land from June 14, 2018 to June 13, 2038. |
| Profits and other agriculture distributed, description | Any gross revenues from the planting of yew tree shall be distributed 80% to the Company and 20% to the Qing'An Forestry. |
Subsequent Events (Details)
| Subsequent Events (Details) | Oct. 15, 2018USD ($) | Oct. 18, 2018USD ($) | Oct. 18, 2018CNY (¥) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Nov. 15, 2017USD ($) | Nov. 15, 2017CNY (¥) | Dec. 22, 2016USD ($) | Dec. 22, 2016CNY (¥) |
| CEB Bank [Member] | |||||||||
| Subsequent Events (Textual) | |||||||||
| Repaid the loan amount | $ 5,133,000 | $ 3,540,000 | |||||||
| Additional borrowings from CEB | $ 2,880,000 | ¥ 20,000,000 | |||||||
| SPD Bank [Member] | |||||||||
| Subsequent Events (Textual) | |||||||||
| Additional borrowings from CEB | $ 1,509,000 | ¥ 10,000,000 | |||||||
| Subsequent Event [Member] | CEB Bank [Member] | |||||||||
| Subsequent Events (Textual) | |||||||||
| Repaid the loan amount | $ 359,000 | ||||||||
| Additional borrowings from CEB | $ 1,090,000 | ||||||||
| Subsequent Event [Member] | SPD Bank [Member] | |||||||||
| Subsequent Events (Textual) | |||||||||
| Repaid the loan amount | $ 1,509,000 | ¥ 10,000,000 |