Roan (RAHGF) 20-F 26 Jun 20 2019 FY Annual report (foreign) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2019shares
Document Information Line Items
Entity Registrant Name	Roan Holdings Group Co., Ltd.
Document Type	20-F
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	25,287,851
Amendment Flag	false
Entity Central Index Key	0001611852
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Annual Report	true
Document Shell Company Report	false
Document Transition Report	false
Entity File Number	001-36664
Entity Incorporation, State or Country Code	F4
Entity Interactive Data Current	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current Assets
Cash and cash equivalents	$ 6,911,592	$ 1,301,124
Restricted cash	15,233,933
Short-term investments	8,610,796
Accounts receivable, net	3,727,017
Loan receivable due from factoring customers		64,702,803
Loan receivable due from third parties	5,952,223	2,254,784
Due from related parties	2,906
Other current assets	2,305,642	813,409
Assets of discontinued operations		26,500,293
Total Current Assets	42,744,109	95,572,413
Pledged deposits	5,597,017
Property and equipment, net	852,525	27,980
Intangible assets, net	4,876,228	44,044
Right of use assets	400,720
Other noncurrent assets	918,683
Assets of discontinued operations, noncurrent		24,093
Total Assets	55,389,282	95,668,530
Current Liabilities
Secured loan payable for factoring business		64,702,803
Customer pledged deposits	7,176
Unearned income	114,615
Reserve for financial guarantee losses	453,489
Dividends payable	480,000	480,000
Income tax payable	1,122,155
Due to related parties	280,714
Warrant liabilities	19,938	550,800
Operating lease liabilities, current portion	106,136
Accrued expenses and other liabilities	710,865	298,116
Current liabilities of discontinued operations		55,984,465
Total Current Liabilities	3,295,088	122,016,184
Operating lease liabilities, noncurrent portion	265,797
Deferred tax liabilities	1,735,576
Total Liabilities	5,296,461	122,016,184
Commitments and Contingencies
Class A convertible preferred shares, no par value, unlimited shares authorized; 715,000 shares issued and outstanding as of December 31, 2019 and 2018, respectively		9,652,527
Shareholders’ Equity (Deficit)
Ordinary Share (no par value, unlimited shares authorized; 25,287,851 and 25,288,003 shares issued and outstanding as of December 31, 2019 and 2018, respectively)
Additional paid-in capital	3,312,189	98,036,152
Statutory reserve	658,662	6,621,063
Accumulated deficit	(12,407,304)	(136,620,068)
Accumulated other comprehensive loss	(7,906)	(4,037,404)
Total Roan Holdings Group Co., Ltd.’s Shareholders’ Equity (Deficit)	32,982,300	(36,000,257)
Noncontrolling interests	17,110,521	76
Total Equity (Deficit)	50,092,821	(36,000,181)
Total Liabilities and Equity	55,389,282	95,668,530
Class A Convertible Preferred Shares
Shareholders’ Equity (Deficit)
Convertible preferred shares	10,338,927
Class B Convertible Preferred Shares
Shareholders’ Equity (Deficit)
Convertible preferred shares	$ 31,087,732

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Ordinary shares, par value (in Dollars per share)
Ordinary shares description	Unlimited shares authorized	Unlimited shares authorized
Ordinary shares, issued	25,287,851	25,288,003
Ordinary shares, outstanding	25,287,851	25,288,003
Class A Convertible Preferred Shares
Preferred shares, par value (in Dollars per share)
Preferred shares, authorized description	Unlimited shares authorized	Unlimited shares authorized
Preferred shares, issued	715,000	715,000
Preferred shares, outstanding	715,000	715,000
Class B Convertible Preferred Shares
Preferred shares, par value (in Dollars per share)
Preferred shares, authorized description	Unlimited shares authorized	Unlimited shares authorized
Preferred shares, issued	291,795,150
Preferred shares, outstanding	291,795,150

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Revenues from services		$ 639,220	$ 71,568
Cost of revenues		(8,080)
Net revenues of services		631,140	71,568
Commissions and fees on financial guarantee services		8,797
Provision for financial guarantee services		(5,008)
Commission and fee income on guarantee services, net		3,789
Interest and fees on direct loans		1,153	15,035	1,628,525
Interest income on loans due from third parties		34,707
Interest income from factoring business		2,782,332	35,229
Interest income on deposits with banks		64,636	418	537
Total interest and fee income		2,882,828	50,682	1,629,062
Interest expenses and fees on secured loans		(2,218,815)	(25,118)
Net interest income		664,013	25,564	1,629,062
Provision for loan losses		(2,244,601)	(2,176,216)	(565,187)
Net interest (loss) income after provision for loan losses		(1,580,588)	(2,150,652)	1,063,875
Operating (loss) income		(945,659)	(2,079,084)	1,063,875
Salaries and employee surcharge		(512,314)	(572,117)	(518,015)
Business taxes and surcharge		(352)	(714)	(9,879)
Other operating expenses		(1,384,907)	(1,468,738)	(1,691,387)
Changes in fair value of warrant liabilities		530,863	748,346
Total operating expenses		(1,366,710)	(1,293,223)	(2,219,281)
Loss before income taxes		(2,312,369)	(3,372,307)	(1,155,406)
Income tax expenses		(244,741)	(17,635)	(250,245)
Net loss from continuing operations		(2,557,110)	(3,389,942)	(1,405,651)
Net income (loss) from discontinued operations, net of income tax		26,846,018	(90,736,365)	(53,377,622)
Net income (loss)		24,288,908	(94,126,307)	(54,783,273)
Dividend – convertible redeemable Class A preferred share		(686,400)	(686,400)	(686,400)
Net income attributable to noncontrolling interests		(76,108)	(76)
Net income (loss) attributable to Roan Holding Group Co., Ltd.’s shareholders		23,526,400	(94,812,783)	(55,469,673)
Other comprehensive (loss) income
Foreign currency translation adjustment		1,435,262	(29,318)	5,608,353
Reclassified to net gain from discontinued operations		2,691,969
Total other comprehensive (loss) income		4,127,231	(29,318)	5,608,353
Comprehensive income (loss)		28,416,139	(94,155,625)	(49,174,920)
Other comprehensive income attributable to noncontrolling interests		(97,733)
Dividend – convertible redeemable Class A preferred share		(686,400)	(686,400)	(686,400)
Net income attributable to noncontrolling interests		(76,108)	(76)
Total comprehensive income (loss) attributable to Roan Holdings Group Co., Ltd.’s shareholders		$ 27,555,898	$ (94,842,101)	$ (49,861,320)
Weighted average number of ordinary share outstanding
Basic and Diluted (in Shares)	[1]	25,287,887	24,380,051	17,343,763
Earnings (Loss) per share
Net earnings (loss) per share – Basic and Diluted (in Dollars per share)		$ 0.93	$ (3.89)	$ (3.20)
Net loss per share from continuing operations - Basic and Diluted (in Dollars per share)		(0.13)	(0.17)	(0.12)
Net earnings (loss) per share from discontinued operations - Basic and Diluted (in Dollars per share)		$ 1.06	$ (3.72)	$ (3.08)
[1]	The Company reported a discontinued operation for the year ended December 31, 2019, it used net loss from continuing operations as the control number to determine whether the warrants, Class A and Class B preferred shares are anti-dilutive. Because the Company incurred a net loss from continuing operations, the number of warrants, Class A preferred shares and Class B preferred shares are excluded from the computation as the anti-dilutive effect.

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders’ Equity (Deficit) - USD ($)	Ordinary Share	Additional paid-in capital	Statutory Reserve	Retained earnings (Accumulated Deficit)	Accumulated other comprehensive (loss) income	Non- controlling interest	Class A Preferred Shares	Class B Preferred Shares	Total
Balance at Dec. 31, 2016		$ 91,644,559	$ 6,536,238	$ 15,691,462	$ (9,616,439)				$ 104,255,820
Balance (in Shares) at Dec. 31, 2016	22,898,864
Share dividend payment to shareholders		5,332,969							5,332,969
Share dividend payment to shareholders (in Shares)	859,953
Net income (loss)				(54,783,273)					(54,783,273)
Dividend to shareholders				(2,630,649)					(2,630,649)
Transfer to statutory reserve			84,825	(84,825)
Foreign currency translation adjustments					5,608,353				5,608,353
Balance at Dec. 31, 2017		96,977,528	6,621,063	(41,807,285)	(4,008,086)				57,783,220
Balance (in Shares) at Dec. 31, 2017	23,758,817
Issuance of ordinary shares in a private placement with two investors		247,747							247,747
Issuance of ordinary shares in a private placement with two investors (in Shares)	769,232
Issuance and exercise of Series B Warrants		504,238							504,238
Issuance and exercise of Series B Warrants (in Shares)	390,579
Issuance of restricted shares		315,724							315,724
Issuance of restricted shares (in Shares)	370,525
Forfeiture of restricted shares		(9,085)							(9,085)
Forfeiture of restricted shares (in Shares)	(1,150)
Net income (loss)				(94,126,383)		76			(94,126,307)
Dividend to shareholders				(686,400)					(686,400)
Foreign currency translation adjustments					(29,318)				(29,318)
Balance at Dec. 31, 2018		98,036,152	6,621,063	(136,620,068)	(4,037,404)	76			(36,000,181)
Balance (in Shares) at Dec. 31, 2018	25,288,003
Forfeiture of restricted shares
Forfeiture of restricted shares (in Shares)	(152)
Acquisition of a subsidiary by issuance of Class B Preferred Shares (Note 4)						16,936,604		$ 31,087,732	48,024,336
Acquisition of a subsidiary by issuance of Class B Preferred Shares (Note 4) (in Shares)								291,795,150
Disposal of a variable interest entity (Note 5)		(94,723,963)	(5,981,661)	100,705,624	2,691,969				2,691,969
Reclassification of Class A Preferred Shares							$ 9,652,527		9,652,527
Reclassification of Class A Preferred Shares (in Shares)							715,000
Net income (loss)				24,212,800		76,108			24,288,908
Dividend to shareholders				(686,400)			$ 686,400
Transfer to statutory reserve			19,260	(19,260)
Foreign currency translation adjustments					1,337,529	97,733			1,435,262
Balance at Dec. 31, 2019		$ 3,312,189	$ 658,662	$ (12,407,304)	$ (7,906)	$ 17,110,521	$ 10,338,927	$ 31,087,732	$ 50,092,821
Balance (in Shares) at Dec. 31, 2019	25,287,851						715,000	291,795,150

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash Flows from Operating Activities:
Net income (loss)	$ 24,288,908	$ (94,126,307)	$ (54,783,273)
Less: Net income (loss) from discontinued operations	26,846,018	(90,736,365)	(53,377,622)
Net loss from continuing operations	(2,557,110)	(3,389,942)	(1,405,651)
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization expenses	48,322	22,122	13,228
Amortization of right of use assets	7,176
Provision for loan losses	2,244,601	2,176,216	565,187
Provision for financial guarantee losses	5,008
Deferred tax expenses	57,674		12,139
Changes in fair value of warrant liabilities	(530,863)	(748,346)
Share-based compensation expenses		306,639
Changes in operating assets and liabilities:
Accounts receivable	(206,442)
Interest and fees receivable	(149,013)	(108,158)	11,580
Other current assets	(289,694)	(308,635)	(41,803)
Advances from customers	(6,702)
Income tax payable	273,589	9,410	(579,719)
Accrued expenses and other liabilities	28,875	475,966	104,088
Net Cash Used in Operating Activities from Continuing Operations	(1,074,579)	(1,564,728)	(1,320,951)
Net Cash (Used in) Provided by Operating Activities from Discontinued Operations	(26,564)	(634,314)	11,218,771
Net Cash (Used in) Provided by Operating Activities	(1,101,143)	(2,199,042)	9,897,820
Cash Flows from Investing Activities:
Loans disbursement to factoring customers	(43,422,881)	(67,258,135)	(7,640,381)
Repayment of loans from factoring customers	107,833,488		4,838,119
Loans disbursement to third parties		(166,256)
Repayment of loans from third parties		1,133,564
Purchases of property and equipment	(833)
Acquisition of a subsidiary	(427,318)
Acquisition of cash from acquired subsidiary	21,442,122
Proceeds from disposal of discontinued operations	504,713
Net Cash Provided by (Used in) Investing Activities from Continuing Operations	85,929,291	(66,290,827)	(2,802,262)
Net Cash Provided by (Used in) Investing Activities from Discontinued Operations	35,765	(301,276)	(12,779,689)
Net Cash Provided by (Used in) Investing Activities	85,965,056	(66,592,103)	(15,581,951)
Cash Flows from Financing Activities:
Proceeds from private placement, net of issuance costs		1,190,000
Proceeds from private placements, deposited in escrow account		500,000
Proceeds from exercise of Series B Warrants		391
Repayments of convertible promissory note			(650,000)
Payments of dividends			(873,600)
Borrowing from a related party	279,020
Proceeds from secured loans	43,422,881	67,258,135
Repayment of secured loans	(107,833,488)
Net Cash (Used in) Provided by Financing Activities from Continuing Operations	(64,131,587)	68,948,526	(1,523,600)
Net Cash (Used in) Provided by Financing Activities from Discontinued Operations	(7,251)	(30,985)	4,068,058
Net Cash (Used in) Provided by Financing Activities	(64,138,838)	68,917,541	2,544,458
Effect of exchange rate changes on cash, cash equivalents, and restricted cash in banks	119,326	(5,150)	126,361
Net increase (decrease) in cash, cash equivalents, and restricted cash in banks	20,844,401	121,246	(3,013,312)
Cash, cash equivalents, and restricted cash in banks at beginning of year	1,301,124	1,179,878	4,193,190
Cash, cash equivalents, and restricted cash in banks at end of year	22,145,525	1,301,124	1,179,878
Supplemental Cash Flow Information
Cash paid for interest expense
Cash paid for income tax
Noncash investing activities
Acquisition of a subsidiary by issuance of Class B Preferred Shares	31,087,732
Receivable from disposal of discontinued operations	940,829
Right of use assets obtained in exchange for operating lease obligations	$ 615,000

Statement of Reconciliation of

Statement of Reconciliation of Cash, Cash Equivalents and Restricted Cash - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Cash Flows [Abstract]
Cash and cash equivalents	$ 6,911,592	$ 1,301,124
Restricted cash in banks	15,233,933
Total Assets	$ 22,145,525	$ 1,301,124	$ 1,179,878	$ 4,193,190

Organization and Principal Acti

Organization and Principal Activities	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
ORGANIZATION AND PRINCIPAL ACTIVITIES	1. ORGANIZATION AND PRINCIPAL ACTIVITIES Roan Holdings Group Co., Ltd. (formerly known as China Lending Corporation or DT Asia Investments Limited) (“Roan”, or the “Company”) is a holding company incorporated on April 8, 2014, under the laws of the British Virgin Islands. On November 27, 2019, the BVI Registrar of Corporate Affairs approved the Company’s name change to Roan Holdings Group Co., Ltd., and on January 8, 2020, the Financial Industry Regulatory Authority (“FINRA”) accepted the Company’s request for the following changes on the Over the Counter Bulletin Board (“OTCBB”): 1) the name change from China Lending Corporation to Roan Holdings Group Co., Ltd., and 2) the ticker symbol change from “CLDOF” to “RAHGF” for its ordinary shares and from “CLDCF” to “RONWF” for its warrants. The new CUSIPS of the Company’s ordinary shares and warrants are G7606D 115 and G7606D 107, respectively. On December 30, 2019, the Company set up Fortis Health Industrial Group Limited in Hong Kong, which was a holding company and did not commence operation as of December 31, 2019. Acquisition of Lixin Financial Holdings Group Limited (“Lixin Cayman”) In January 2019, the Company acquired 1% equity interest in Zhejiang Lixin at a cash consideration of $427,318 (RMB 2,858,600). On June 13, 2019 and August 23, 2019, the Company entered into a share purchase agreement (“SPA”) and a supplementary to the SPA with Lixin Cayman and certain shareholders of Lixin Cayman., pursuant to which the Company would acquire 65.0177% equity interests in Lixin Cayman and its subsidiaries at a consideration of approximately $39.38 million (RMB 276.00 million). Lixin Cayman is engaged in financial guarantee business, asset management, supply chain financing, and business factoring through its subsidiaries based in Zhejiang Province, China. The transaction was closed on December 20, 2019 upon the Company’s issuance of 291,795,150 Class B Preferred Shares at the consideration of $31.09 million (RMB 217.88 million). These convertible preferred shares are embedded with liquidation preference and dividend preference but with no voting rights. Upon the second anniversary of the closing date, the preferred shares are convertible to the equal number of ordinary shares or can be redeemed at a conversion price calculated at the average closing price per share for ninety consecutive trading days before conversion date. Disposition of Urumqi Fenghui Direct Lending Co., Ltd. (“Feng Hui”) On July 31, 2019 and November 22, 2019, the Company entered into a framework agreement (the “Agreement”) and a supplementary to the Agreement with Zhejiang Zhongfeng Investment Management Co., Ltd. (“Zhongfeng”, or the “Purchaser”), pursuant to which Zhongfeng will either acquire a 100% equity interest in Feng Hui, a variable interest entity of the Company, or enter into a series of agreements to become primary beneficiary of Feng Hui. Feng Hui primarily provides loan facilitation services to micro, small and medium sized enterprises in the Xinjiang Uygur Autonomous Region. On November 22, 2019, the disposition transaction was closed at a consideration of approximately $1.44 million (RMB 10 million) upon the Company received a deposit of $504,713 (RMB 3.5 million) and transferred control over Feng Hui to Zhongfeng. On April 30, 2020, the Compan y subsequently received additional $0.43 million (RMB 3.0 million) from Zhongfeng. Upon closing of the disposition on November 22, 2019, the Company released all equity interests to Feng Hui’s shareholders and those interests were transferred to Zhongfeng through Feng Hui’s shareholders. Zhongfeng assumed all assets and obligations of Feng Hui. Upon the closing of the transaction, the Company does not bear any contractual commitment or obligation to the microcredit business or the employees of Feng Hui, nor to the Purchaser. As of December 31, 2019, the Company was mainly engaged in management and assessment services for factoring business through Zeshi, loan business through Zhiyuan, the factoring company, and financial guarantee services, and financial consulting services through Lixin Cayman and its subsidiaries. The accompanying consolidated financial statements reflect the activities of the Company and its subsidiaries as follows: Name Background Ownership Adrie Global Holdings Limited (“Adrie”) ● A BVI company ● Incorporated on November 19, 2014 ● A holding company 100% owned by Roan China Roan Industrial-Financial Holdings Group Co., Limited (“Roan HK”) ● A Hong Kong company ● Incorporated on February 11, 2015 ● A holding company ● Formerly known as China Feng Hui Financial Holding Group Co., Limited 100% owned by Adrie Fortis Health Industrial Group Limited (“FHIG”) ● A Hong Kong company ● Incorporated on December 30, 2019 ● A holding company 100% owned by Adrie Xinjiang Feng Hui Jing Kai Direct Lending Limited (“Jing Kai) ● A PRC company and deemed a wholly foreign owned enterprise ● Incorporated on May 14, 2015 ● Registered capital of $18 million ● A holding company 100% owned by Roan HK Feng Hui Ding Xin (Beijing) Financial Consulting Co., Limited (“Ding Xin”) ● A PRC company and deemed a wholly foreign owned enterprise ● Incorporated on May 20, 2015 ● Registered capital of $1 million with registered capital fully paid-up ● Engaged in the business of financial consulting services 100% owned by Roan HK Ningbo Ding Tai Financial Leasing Co., Limited (“Ding Tai”) ● A PRC company and deemed a wholly foreign owned enterprise ● Incorporated on December 19, 2016 ● Registered capital of $30 million ● Planning for financial lease services 100% owned by Roan HK Xinjiang Xin Quan Financial Leasing Co., Limited (“Xin Quan”) ● A PRC company and deemed a wholly foreign owned enterprise ● Incorporated on January 24, 2017 ● Registered capital of $50 million ● Planning for financial lease services 60% owned by Roan HK Zhiyuan Commercial Factoring (Guangzhou) Co., Limited. (“Zhiyuan”) ● A PRC limited liability company ● Incorporated on November 19, 2018 ● Registered capital of $4,321,434 (RMB 30 million) ● Engaged in business factoring program, financing products design, related corporate financing solutions, investments and asset management 99% owned by Ding Xin Hangzhou Zeshi Investment Partnership (Limited Partnership) (“Zeshi”) ● A PRC limited liability partnership ● Incorporated on December 21, 2017 ● Acquired on November 29, 2019 ● Registered capital of $7,750,878 (RMB 51 million) ● Engaged in business factoring program, financing products design, related corporate financing solutions, investments and asset management 98.04% owned by Ding Tai and 1.96% owned by Ding Xin as of December 31, 2019. Ding Xin transferred the 1.96% equity interest to Nibo Zeshi Insurance Technology Co., Ltd. (“Zeshi Insurance”) Lixin Financial Holdings Group Limited (“Lixin Cayman”) ● A Cayman company ● Incorporated on October 25, 2017 ● A holding company 65.0177% owned by Roan Name Background Ownership Lixin Financial Holdings (BVI) Limited ● A BVI company ● Incorporated on November 29, 2017 ● A holding company 100% owned by Lixin Cayman Lixin Financial Holdings Group Limited (“Lixin HK”) ● A Hong Kong company ● Incorporated on January 15, 2018 ● A holding company 100% owned by Lixin BVI Zhejiang Lixin Enterprise Management Group Go., Ltd. (“Zhejiang Lixin”) ● A PRC limited liability company ● Incorporated on July 3, 2015 ● Registered capital of $16,162,259 (RMB 101 million) with registered capital fully paid-up ● Engaged in financial guarantee services and related assessment and management services 99% owned by Lixin HK and 1% owned by Roan HK Zhejiang Jing Yu Xin Financing Guarantee Co., Ltd (“Zhejiang Jingyuxin”) ● A PRC limited liability company ● Incorporated on January 5, 2013 ● Registered capital of $48,517,261 (RMB 303 million) with registered capital fully paid-up ● Engaged in financial guarantee services and related assessment and management services 93.4% owned by Zhejiang Lixin Lixin (Hangzhou) Asset Management Co., Ltd. (“LAM”) ● A PRC limited liability company ● Incorporated on March 21, 2017 ● Registered capital of $4,358,565 (RMB 30 million) with $2,905,710 registered capital paid-up ● Engaged in provision of consulting and assessment services to customers and facilitates financial guarantee services between customers and guarantors 100% owned by Zhejiang Jingyuxin Lixin Supply Chain Management (Tianjin) Co., Ltd. (“Lixin Supply Chain”) ● A PRC limited liability company ● Incorporated on December 19, 2017 ● Registered capital of $1,513,226 (RMB 10 million) ● Planning for provision of supply chain management service 100% owned by LAM

Liquidity

Liquidity	12 Months Ended
	Dec. 31, 2019
Liquidity [Abstract]
LIQUIDITY	2. LIQUIDITY For the year ended December 31, 2019, the Company incurred net loss from continuing operations of approximately $2.56 million, and cash outflows of approximately $1.07 million from operating activities from continuing operations. The continuing net loss from continuing operations and cash outflow from operating activities caused the management’s consideration of the Company’s liquidity and its ability to continue as a going concern. In assessing the Company’s liquidity, the Company monitors and analyzes its cash and its ability to generate sufficient cash flow in the future to support its operating and capital expenditure commitments. The Company’s liquidity needs are to meet its working capital requirements and operating expenses obligations. As of December 31, 2019, the Company had cash balance of $6,911,592 and a positive working capital of $39,449,021. In addition to the cash balance, the working capital was mainly comprised of restricted cash of $15,233,933, short-term investments in financial products of $8,610,796 and loan receivable due from third parties of $5,952,223. The balances of these assets are expected to be repaid on maturity dates and will also be used for working capital. In addition, the management estimated the operating expenses obligation for the next twelve months after issuance of the consolidated financial statements to be $1.85 million, which will be covered by the cash flows of $7.79 million generated from financial guarantee services and financial consulting services. The Company’s shareholder also pledged to provide continuous financial support to the Company whenever necessary. The Company plans to fund its operations through revenue generated from its revenues of financial guarantee services and financial consulting services, private placements from investors, and financial support commitments from the Company’s shareholders. Based on above operating plan, the management believes that the Company will continue as a going concern in the following 12 months. The Company’s ability to fund these needs will depend on its future performance, which will be subject in part to general economic, competitive and other factors beyond its control. Recent COVID-19 outbreak and spread is causing lockdowns, quarantines, travel restrictions, and closures of businesses and schools. Due to COVID-19 outbreak, the facilities remained closed or had limited business operations after the Chinese New Year holiday until early March 2020. In addition, COVID-19 has caused severe disruptions in transportation, limited access to the facilities and limited support from workforce employed in operations, and as a result, the Company may experience the delays in provision of financial guarantee services and consulting services to customers. Although the Company has taken all possible measures to overcome the adverse impact derived from the COVID-19 outbreak and have resumed normal business activities in early March 2020, it is estimated that a lower amount of revenue and profit during the period from February to April 2020. The extent to which the coronavirus impacts the results for fiscal year 2020 will depend on certain future developments, including the duration and spread of the outbreak, emerging information concerning the severity of the coronavirus and the actions taken by governments and private businesses to attempt to contain the coronavirus, all of which is uncertain at this point.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of presentation The accompanying audited consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). (b) Principal of consolidation The consolidated financial statements include the accounts of the Company, its wholly and majority owned subsidiaries. All transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation. (c) Non-controlling interest Non-controlling interests represent the equity interests in the subsidiaries that are not attributable, either directly or indirectly, to the Company. (d) Foreign currency translation Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing on the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates on the date of the balance sheet. The resulting exchange differences are recorded in the statement of operations. The reporting currency of the Company and its subsidiaries (“US$”) and the accompanying consolidated financial statements have been expressed in US$, because that is the primary and functional currency where all entities operate. In general, for consolidation purposes, assets and liabilities of the Company and its subsidiaries whose functional currency is not the US$, are translated into US$, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of consolidated financial statements of the Company and its subsidiaries are recorded as a separate component of accumulated other comprehensive income within the statement of shareholders’ equity. Translation of amounts from RMB into $ has been made at the following exchange rates for the respective periods: December 31, December 31, Balance sheet items, except for equity accounts 6.9680 6.8776 For the Years Ended 2019 2018 2017 Items in the statements of operations and comprehensive income (loss), and statements of cash flows 6.9088 6.6163 6.7588 No representation is made that the RMB amounts could have been, or could be, converted into U.S. dollars at the rates used in translation. (e) Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities on the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, management reviews these estimates and assumptions using the currently available information. Changes in facts and circumstances may cause the Company to revise its estimates. The Company bases its estimates on past experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Estimates are used when accounting for items and matters including, but not limited to, determination of fair value of acquiree, determinations of the useful lives and valuation of long-lived assets, estimates of allowances for loan receivables relating to direct loan business, estimates of allowances for other doubtful accounts, valuation of deferred tax assets, assumptions impacting the valuation of ordinary shares, share option, restricted shares and warrant liabilities, and other provisions and contingencies. (f) Fair value of financial instruments The Company’s financial instruments are accounted for at fair value on a recurring basis. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The three levels of the fair value hierarchy are described below: Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments. Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value. As of December 31, 2019 and 2018, financial instruments of the Company comprised primarily current assets and current liabilities including cash and cash equivalents, restricted cash in banks and other financial institutions, accounts receivable, loan receivables, interest and fees receivable, other receivables, dividends payable, income tax payable, other payables, and due from/to related parties, which approximate their fair values because of the short-term nature of these instruments. Short-term investments are held to their maturities and are carried at amortized cost, which approximates fair value. Warrant liabilities The inputs used to measure the estimated fair value of warrant liabilities are classified as Level 3 fair value measurement due to the significance of unobservable inputs using company-specific information. The valuation methodology used to estimate the fair value of warrant liabilities is discussed in Note 19. As of December 31, 2019 and 2018, the Company’s warrant liabilities was comprised of Series A Warrants relating to a private placement closed in July 2018, and the warrants issued to the agent for the private placement, at the aggregated fair value of $19,938 and $550,800, respectively. (g) Cash and cash equivalents Cash and cash equivalents consist of bank deposits with original maturities of three months or less, all of which are unrestricted as to withdrawal and uninsured. Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which at times, may exceed the U.S. Federal depository insurance coverage of $250,000, or other limits of protection if held in financial institutions outside of the U.S., such as Government securities coverage of HK$500,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts. (h) Restricted cash Restricted cash represents cash pledged with banks and other financial institutions as guarantor deposit for the guarantee business customers. The banks or financial institutions providing loans to the Company’s guarantee service customers generally require the Company, as the guarantor of the loans, to pledge a cash deposit of 10% to 20% of the guaranteed amount to an escrow account and is restricted from use. The deposits are released after the guaranteed loans are paid off and the Company’s guarantee obligation expires which is usually within 12 months. (i) Short-term investments Short-term investments consist primarily of investments in financial products with variable return rates and maturities between three months and one year. Short-term investments are held to their maturities and are carried at amortized cost, which approximates fair value because of the short-term nature of these investments. The Company reviews its investments for other-than-temporary impairment (“OTTI”) based on the specific identification method. The Company considers available quantitative and qualitative evidence in evaluating potential impairment of its investments. If the cost of an investment exceeds the investment’s fair value, the Company considers, among other factors, general market conditions, expected future performance of the investees, the duration and the extent to which the fair value of the investment is less than the cost, and the Company’s intent and ability to hold the investment. OTTI is recognized as a loss in the statement of income. For the years ended December 31, 2019, 2018 and 2017, the Company did not provide OTTI on the short-term investments. (j) Accounts receivable, net Accounts receivable represents the consulting service fees earned from customers but have not yet collected. An allowance for doubtful accounts is established and recorded based on management’s assessment of potential losses based on the credit history and relationships with the customers. Management reviews its receivables on a regular basis to determine if bad debt allowance is adequate, and adjusts the allowance when necessary. Delinquent account balances are written-off against allowance for doubtful accounts after management has determined that the likelihood of collection is not probable. The Company recognizes a charge-off when management determines that full repayment of the receivable is not probable. The primary factor in making that determination is the potential outcome of a lawsuit against the delinquent debtor. The Company will recognize a charge-off when the Company loses contact with the delinquent customer for more than six months or when the court rules against the Company to collect the outstanding balances. As of December 31, 2019 and 2018, the Company had allowance against doubtful accounts receivable of $405,802 and $nil, respectively. While management uses the best information available to make loan loss allowance evaluations, adjustments to the allowance may be necessary based on changes in economic and other conditions or changes in accounting guidance. (k) Loans receivable, net relating to direct loan business Loans receivable relating to direct loan business primarily represent loan amounts due from customers. Loans receivable are recorded at unpaid principal balances net of allowance against loans receivables that reflects the Company’s best estimate of the amounts that will not be collected. The loans receivable portfolio consists of business and personal loans. The allowance for doubtful loans receivable is increased by charges to income and decreased by charge offs (net of recoveries). Recoveries represent subsequent collection of amounts previously charged-off. The increase in provision for loan losses is the netting effect of “reversal” and “provision” for both business and personal loans. If the ending balance of the provision for loan losses after any charge offs (net of recoveries) is less than the beginning balance, it will be recorded as a “reversal”; if it is larger, it will be recorded as a “provision” in the provision for loan loss. The netting amount of the “reversal” and the “provision” is presented in the consolidated statements of operations and comprehensive income. The Company recognizes a charge-off when management determines that full repayment of a loan is not probable. The primary factor in making that determination is the potential outcome of a lawsuit against the delinquent debtor. The Company will recognize a charge-off when the Company loses contact with the delinquent borrower for more than nine months or when the court rules against the Company to seize the collateral asset of the delinquent debt from either the guarantor or borrower. In addition, when the recoverability of the delinquent debt is highly unlikely, the senior management team will go through a stringent procedure to approve a charge-off. Management estimates the provision balance required using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations and estimated collateral values, economic conditions, and other factors. Allocations of the provision may be made for specific loans, but the entire provision is available for any loan that, in management’s judgment, should be charged-off. The allowance for doubtful loans receivable is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management performs a quarterly evaluation of the adequacy of the provision. The provision is based on the Company’s past loan loss history, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available. The allowance is calculated at portfolio-level since our loans portfolio is generally comprised of smaller balance homogenous loans and is collectively evaluated for impairment. In estimating the probable loss of the loan portfolio, the Company also considers qualitative factors such as current economic conditions and/or events in specific industries and geographical areas, including unemployment levels, trends in real estate values, peer comparisons, and other pertinent factors such as regulatory guidance. Finally, as appropriate, the Company also considers individual borrower circumstances and the condition and fair value of the loan collateral, if any. In addition, the Company calculates the provision amount as below: 1) General Reserve - this reserve covers potential losses due to risks related to the region of China, industry, company or types of loan. The reserve rate is determined by total loan receivable balance and to be used to cover unidentified probable loan loss. 2) Special Reserve - is fund set aside covering losses due to risks related to the region of China, industry, company or type of loans. The reserve rate could be decided based on management estimate of loan collectability. The loan portfolio did not include any loans outside of the PRC. Generally, the primary factors for the evaluation of provision for loan losses consist of business performance, financial position, cash flow and other operational performance of the debtors. Among these, cash flow of the debtors is the primary funding source for repayment for determining the provision for loan losses and any collateral, pledged asset or guarantee is considered as a secondary funding source for repayment. Besides the repayment ability and willingness to repay, the Company evaluates the provision for loan losses of collateral backed loans based on whether the fair value of the collateral if the repayment is expected to be provided by the collateral is sufficient or not. For loans with pledged assets, the net realizable value of pledged assets for pledged backed loans will be estimated to see if they have sufficient coverage on the loans. For the guarantee backed loans, the Company evaluates the provision for loan losses based on the combination of the guarantee, including the fair value and net realizable value of guarantor’s financial position, credibility, liquidity and cash flow. For the years ended December 31, 2019 and 2018, the Company issued guarantee-backed loans in accordance with its loan management policy, and each guarantee-backed loan will undergo standard assessment procedures for willingness and ability of the guarantor to perform under its guarantee. The Company accepts guarantees provided by three types of guarantors: professional guarantee companies, corporations and individuals which includes related parties. 1) In assessing the willingness and ability of a professional guarantee company to perform under a guarantee, the Company consider factors including its guarantee licenses, size of registered capital, corporate governance, internal audit system, risk management and compensation system, risk reserve, length of operation history especially cooperation history with The Company, its default costs and other pertinent factors such as the loan size backed by guarantee over its net assets. 2) In assessing the willingness and ability of a corporate guarantor to perform under a guarantee, the Company consider factors including nature of its businesses, size of registered capital, annual revenues, continuous profitability in the past three years, stability and adequacy of income and cash flows, clean credit history, current liabilities, willingness to accept credit monitoring by the Company, its default costs and other pertinent factors such as the loan size backed by guarantee over its net assets. 3) In assessing the willingness and ability of an individual guarantor to perform under a guarantee, the Company consider factors including their residency, whether being able to provide permanent residential addresses, marital status, occupations, legitimacy and stability of incomes, assets and liabilities, clean credit history, no criminal history, their default costs and other pertinent factors such as the loan size backed by guarantee over their net assets. (l) Interest and fees receivable Interest and fee receivables are accrued and credited to income as earned but not received. The Company determines a loan past due status by the number of days that have elapsed since a borrower has failed to make a contractual interest or principal payment. Accrual of interest is generally discontinued when either (i) reasonable doubt exists as to the full, timely collection of interest or principal or (ii) when a loan interest or principal becomes past due by more than 90 days. Additionally, any previously accrued but uncollected interest is reversed. Subsequent recognition of income occurs only to the extent payment is received, subject to management’s assessment of the collectability of the remaining interest and principal. Loans are generally restored to an accrual status when it is no longer delinquent and collectability of interest and principal is no longer in doubt and past due interest is recognized at that time. (m) Property and equipment Property and equipment is stated at cost less accumulated depreciation and impairment in value. Depreciation is computed using the straight-line method with residual value rate of 5% based on the estimated useful lives as follows: Electronic equipment 3 years Vehicles 3 - 4 years Office equipment 5 years Leasehold improvements 5 years Building 20 years Costs of repairs and maintenance are expensed as incurred and asset improvements are capitalized. The cost and related accumulated depreciation of assets disposed of or retired are removed from the accounts, and any resulting gain or loss is reflected in the consolidated statement of income and comprehensive income (loss). (n) Intangible assets, net On December 20, 2019, the Company acquired 65.0177% of Lixin Cayman and its subsidiaries, which are engaged in financial guarantee business, asset management, supply chain financing, and business factoring. The acquisition was accounted for under the acquisition method of accounting which required the Company to perform an allocation of the purchase price to the assets acquired. Under the acquisition method of accounting, the total purchase price is allocated to net tangible and intangible assets based on their estimated fair values as of the acquisition date. Separately identifiable intangible assets that have determinable lives continue to be amortized over their estimated useful lives using the straight-line method as follows: Customer relationship 3 years License 10 years Non-Compete Agreements 4 years Software and others 5-10 years Credit rating system 10 years The Company’s purchased intangible assets are comprised of software and credit rating system for direct loan business. Intangible assets are recognized and measured at fair value upon acquisition, and are amortized over their useful lives in a manner that best reflects their economic benefit, which may include straight line or accelerated methods of amortization. Intangible assets are reviewed for impairment annually and whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company does not have indefinite-lived intangible assets. (o) Impairment of long-lived assets The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. No impairment of long-lived assets was recognized for the years ended December 31, 2019, 2018 and 2017. (p) Business combination The Company accounted for its business combination using the acquisition method of accounting in accordance with ASC 805 “Business Combinations”. The cost of an acquisition is measured as the aggregate of the acquisition date fair values of the assets transferred and liabilities incurred by the Company to the sellers and equity instruments issued. Transaction costs directly attributable to the acquisition are expensed as incurred. Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date, irrespective of the extent of any non-controlling interests. The excess of (i) the total costs of acquisition, fair value of the non-controlling interests and acquisition date fair value of any previously held equity interest in the acquiree over (ii) the fair value of the identifiable net assets of the acquiree is recorded as goodwill. (q) Financial guarantee services Financial guarantee service contracts provide guarantees which protects the holder of a debt obligation against default. Pursuant to such guarantee, the Company makes payments if the obligor responsible for making payments fails to do so as scheduled. The contract amounts reflect the extent of involvement the Company has in the guarantee transaction and also represent the Company’s maximum exposure to credit loss in its guarantee business. The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. Financial instruments representing credit risk are as follows: December 31, December 31, Guarantee $ 35,103,876 $ - A provision for possible loss to be absorbed by the Company for the financial guarantee is recorded as an accrued liability when the guarantees are made and recorded as “Reserve for financial guarantee services” on the consolidated balance sheets. This liability represents probable losses and is increased or decreased by accruing an “Provisions or reversals of provisions on financial guarantee services” against the guarantee fee income. As of December 31, 2019 and 2018, the reserve for financial guarantee services amounted to $453,489 and $nil, respectively. This is reviewed throughout the life of the guarantee, as necessary when additional relevant information becomes available. The methodology used to estimate the liability for possible guarantee loss considers the guarantee contract amount and a variety of factors, which include, depending on the counterparty, latest financial position and performance of the borrowers, actual defaults, estimated future defaults, historical loss experience, estimated value of the relevant collateral or guarantees the costumers or third parties offered, and other economic conditions such as the economy trend of the area and the country. The estimates are based upon currently available information (Note 3(ll)). Referring to the historical information and industry experience, the Company estimates the probable loss for immature financial guarantee services to be 1% of contract amount and the probable loss for uncollected guarantee commission to be 50% of outstanding balance. For the years ended December 31, 2019, 2018 and 2017, the Company provided provisions for the financial guarantee services of $5,008, $nil and $nil. The Company reviews the provisions on a quarterly basis. See Note 3(kk) for newly issued accounting guidance ASU 2016-13 for recognition of credit losses on financial instruments, which is effective January 1, 2023 for future measurement of the accrual of financial guarantee liabilities. (r) Customer pledged deposits To mitigate the potential credit risks exposure to the financial guarantee services, the Company requires the guarantee service customers to make a deposit to the Company of the same amount as the deposit the Company pledged to the banks for their loans if the customer does not pledge or collateralize other assets with the Company. The Company recorded the deposit received as “customer pledged deposits” on the consolidated balance sheet. The deposit is returned to the customer after the customer repays the bank loan and the Company’s guarantee obligation expires. (s) Unearned income The Company receives the commissions from guarantee services either in full at inception or in instalments during the guarantee period. For the full collection of commission at inception, the Company initially records commissions as unearned income and amortizes the commission over the period of guarantee. (t) Warrant liabilities In connection with the issuances of common stocks, the Company may issue options or warrants to purchase common stock. In certain circumstances, these options or warrants may be classified as liabilities, rather than as equity. Warrants classified as equity are initially recorded at fair value and subsequent changes in fair value are not recognized as long as the warrants continue to be classified as equity. Warrants classified as liabilities are initially recorded at fair value with gains and losses arising from changes in fair value recognized in the consolidated statements of operations and comprehensive income (loss) during the period in which such instruments are outstanding. (u) Revenue recognition The Company adopted ASC 606, Revenue from Contracts with Customers (“ASC 606”) on January 1, 2018, using the modified retrospective approach. ASC 606 establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. The Company has assessed the impact of the guidance by reviewing its existing customer contracts and current accounting policies and practices to identify differences that will result from applying the new requirements, including the evaluation of its performance obligations, transaction price, customer payments, transfer of control and principal versus agent considerations. Based on the assessment, the Company concluded that there was no change to the timing and pattern of revenue recognition for its current revenue streams in scope of ASC 605 and therefore there was no material changes. Pursuant to ASC606-10-15-2, the interest income generated from direct loan business, factoring business and financial guarantee income generated by financial guarantee business are scoped out of ASC606. Management and assessment services Service fees for management and assessment services are paid by customers for the management and assessment services provided during the loan period. The Company recognizes the revenue over the loan period using a time-based measure of progress. Consulting services for financial guarantee customers The Company provided financial consulting services to financial guarantee customers. Pursuant to the contracts with customers, the Company facilitated financial guarantee services between customers and financial guarantors, and charged referral fees at a fixed amount. The performance obligations are completed and control of the service is transferred at the inception of financial guarantee period. Transaction prices are generally paid upon successful facilitation. The Company recognizes the revenue at the inception of guarantee period. Consulting services relating to debt collection services For the year ended December 31, 2019, the Company entered into agreements with certain factoring companies to provide consulting services relating to debt collection services for these customers. The management consulting services either involved two performance obligations which are to assist the customers to obtain court judgments on outstanding debt and to assist the customers to receive repayment on outstanding debt, or one performance obligation which is to assist the customers to receive repayment on outstanding debt. Pursuant to the contracts with customers, the service fees are fixed and payable upon the completion of each performance obligation. In addition, a collection amount based incentive is agreed in the agreements. As of December 31, 2019, the Company did not include incentive in the transaction price because the Company had limited information on the collection amount of outstanding debts. The transaction price is allocated to each performance obligation based on the relative standalone selling prices of the services being provided to the customer. 1) For the Company’s assistance with customers to obtain court judgments on outstanding debt, the customers receive and consume benefits from the services provided by the Company, and thus the Company recognized revenues over period. The Company measures progress towards completion of the performance obligation by using input method based on the staff cost incurred. 2) For the Company’s assistance with customers to receive repayment on outstanding debt, the Company recognized revenues upon collection of outstanding debts. The following table identifies the disaggregation of our revenue from services for the years ended December 31, 2019, 2018 and 2017, respectively. For the Years Ended 2019 2018 2017 Management and assessment services $ 135,938 $ 71,568 $ - Consulting services for financial guarantee customers 9,503 - - Consulting services relating to debt collection 493,779 - - $ 639,220 $ 71,568 $ - (v) Interest income on loans Interest on loan receivables is accrued monthly in accordance with their contractual terms and recorded in accrued interest receivable. The Company does not charge prepayment penalties. Additionally, any previously accrued but uncollected interest is reversed and accrual is discontinued, when either (i) reasonable doubt exists as to the full, timely collection of interest or principal or (ii) when a loan becomes past due by more than 90 days. (w) Interest income from factoring business Interest income from factoring business is recognized ratably on a monthly basis in accordance with their contractual terms and recorded in accrued interest receivable. The Company does not charge prepayment penalties. (x) Financial guarantee commission The Company receives the commissions from guarantee services either in full at inception or in instalments during the guarantee period. For the full collection of commission at inception, the Company initially records commissions as unearned income and amortizes the commission over the period of guarantee. (y) Operating expenses Operating expenses consisted of salaries and employee surcharge, business taxes and surcharges, other operating expenses and changes in fair value of warrant liabilities. The other operating expenses primarily consisted of legal and consulting expenses, depreciation and amortization expenses, rental expenses and others. (z) Employee benefits The full-time employees of the Company are entitled to staff welfare benefits including medical care, housing fund, pension benefits, unemployment insurance and other welfare, which are government mandated defined contribution plans. The Company is required to accrue for these benefits based on certain percentages of the employees’ respective salaries, subject to certain ceilings, in accordance with the relevant PRC regulations, and make cash contributions to the state-sponsored plans out of the amounts accrued. Total expenses for the plans were $31,012, $33,999, and $88,519 for the years ended December 31, 2019, 2018, and 2017, respectively. (aa) Operating leases In February 2016

Acquisition of Lixin Cayman

Acquisition of Lixin Cayman	12 Months Ended
	Dec. 31, 2019
Business Combinations [Abstract]
ACQUISITION OF LIXIN CAYMAN	4. ACQUISITION OF LIXIN CAYMAN In January 2019, the Company acquired 1% equity interest in Zhejiang Lixin at a cash consideration of $427,318 (RMB 2,858,600) On December 20, 2019, the Company completed the acquisition of 65.0177% equity interest in Lixin Cayman and its subsidiaries (“Lixin”), which are engaged in financial guarantee business, asset management, supply chain financing, and business factoring through its subsidiaries based in Zhejiang Province, China. The acquisition had been accounted for as a business combination in accordance with ASC 805. Under the terms of the purchase agreement, the consideration was $39.38 million (RMB 276.00 million). As per an independent valuation report issued by a professional valuation firm dated on December 20, 2019, the fair value of 65.0177% equity interest in Lixin Cayman and its subsidiaries was $31.09 million (RMB 217.88 million). The consideration was paid by Class B convertible preferred share which was equivalent to $31.09 million (RMB 217.88 million) and at $0.1065 per Class B convertible preferred share. On December 20, 2019, the Company issued 291,795,150 shares of Class B convertible preferred shares. (Note 18) The Company assessed the Company as the accounting acquirer because of the following reasons: 1) The Class B preferred shares are without voting rights. Though the Company’s Board has the rights to convert any or all of the Class B Preferred Shares, in whole or in part, into ordinary share. The Company does not expect the Board will exercise the rights before the conversion date. Therefore as of the acquisition date, the Company’s existing shareholders had voting rights whereas the selling shareholders of Lixin Cayman didn’t have such right in the combined entity and are not expected to have such a right before conversion. 2) The Company’s major shareholders with voting rights did not change before and after the acquisition date. There is no existence of a large minority voting interest which has a significant voting interest over the combined entity. 3) For the period from January 1, 2019 to the date of this report, the Company changed two executive directors and one non-executive director in the Company’s Board, all duly elected by the shareholders. 4) For the period from January 1, 2019 to the date of this report, the Company appointed a new Chief Executive Officer who is also the Chairman of the Board, and Lixin appointed a new Chief Financial Officer. The Company assessed the CEO dominates the senior management team of combined company. The Company has allocated the purchase price of Lixin based upon the fair value of the identifiable assets acquired and liabilities assumed on the acquisition date. The Company estimated the fair values of the assets acquired and liabilities assumed at the acquisition date in accordance with the business combination standard issued by FASB. The Company used carrying amount of assets and liabilities as fair value, which approximate the fair value, and used income approach to estimate the fair value of intangible assets, including customer relationship, license and non-compete agreements. Management of the Company is responsible for determining the fair value of assets acquired, liabilities assumed and intangible assets identified as of the acquisition date and considered a number of factors including valuations from an independent appraiser firm. Acquisition-related costs incurred for the acquisitions are not material and have been expensed as incurred in other operating expenses. The following table summarizes the estimated fair values of the identifiable assets acquired at the acquisition date, which represents the net purchase price allocation at the date of the acquisition of Lixin based on a valuation performed by an independent valuation firm engaged by the Company and translated the fair value from RMB to USD using the exchange rate on December 20, 2019 at the rate of USD 1.00 to RMB 7.0086. Fair value Net tangible assets (5) $ 44,762,922 Customer relationship (1) 156,950 License (2) 1,983,277 Non-Compete Agreements (3) 2,454,127 Deferred tax liabilities recognized (1,148,589 ) Other intangible assets (4) 243,072 Less: Noncontrolling interests (16,936,604 ) Total purchase consideration $ 31,515,155 (1) Lixin has provided financial services to over 300 clients in the past four years, which will enable the Company to benefit from these customer in future operations and with an estimated average finite useful life of three years. (2) Lixin has obtained the Financing Guarantee Agency Business License which permits the Company to engage in financing guarantee business, non-financial guarantee business and consulting intermediary business related to guarantee business. The estimated useful life of the license is 10 years. (3) Pursuant to purchase agreement between the Company and Lixin, Lixin’s management and key employees were limited to be engaged in similar business to compete with the Company during the performance commitment period and within six-months to two years after leaving. (4) Approximately $0.24 million of other intangible assets arising from the acquisition was mainly for the assembled workforce. (5) The following is a reconciliation of the fair value of major classes of assets acquired and liabilities assumed which comprised of net tangible assets on December 20, 2019 . December 20, Carrying amounts of major classes of acquired assets Cash, cash equivalents and restricted cash $ 21,442,122 Short-term investments 8,560,911 Accounts receivable, net 3,252,159 Loan receivable due from third parties 5,917,714 Pledged deposits 5,564,592 Other assets 2,537,990 Total assets $ 47,275,488 Less: total liabilities (2,512,566 ) Net tangible assets $ 44,762,922 The amount of operating income and net income what resulted from the acquisition and included in the consolidated statements of operations and comprehensive income (loss) during the year ended December 31, 2019 were $280,972 and $192,483, respectively. The accounting literature establishes guidelines regarding the presentation of this unaudited pro forma information. Therefore, this unaudited pro forma information is not intended to represent, nor does the Company believe it is indicative of, the consolidated results of operations of the Company that would have been reported had the acquisition been completed as of January 1, 2017. Furthermore, this unaudited pro forma information does not give effect to the anticipated business and tax synergies of the acquisition and is not representative or indicative of the anticipated future consolidated results of operations of the Company. The unaudited pro forma consolidated financial information reflects the historical results of the Lixin Cayman and its subsidiaries, adjusted to reflect the acquisition had it been completed as of January 1, 2017. The most significant pro forma adjustments to the historical results of operations relate to the application of purchase accounting for the acquisition. The unaudited pro forma financial information includes various assumptions, including those related to the finalization of the purchase price allocation. UNAUDITED PRO FORMA CONSOLIDATED INCOME STATEMENTS FOR THE YEAR ENDED December 31, 2019 Roan Lixin Cayman and its subsidiaries* Pro Forma Adjustment** Pro Forma Financial Data Net revenues from services $ 631,140 $ 2,591,381 $ - $ 3,222,521 Net interest loss after provision for loan losses (1,580,588 ) 1,075,726 50,681 (454,181 ) Commission and fee income on guarantee services, net 3,789 1,829,566 (45,192 ) 1,788,163 Operating (Loss) Income (945,659 ) 5,496,673 5,489 4,556,503 Other income, net - 195,519 - 195,519 Total Operating Expenses (1,366,710 ) (2,087,917 ) (855,729 ) (4,310,356 ) (Loss) Income Before Income Taxes (2,312,369 ) 3,604,275 (850,240 ) 441,666 Income tax expenses (244,741 ) (936,982 ) 212,560 (969,163 ) - Net (Loss) Income from continuing operations (2,557,110 ) 2,667,293 (637,680 ) (527,497 ) - Net income from discontinued operations, net of income tax 26,846,018 - - 26,846,018 Net Income 24,288,908 2,667,293 (637,680 ) 26,318,521 Dividend – Convertible Redeemable Class A preferred stock (686,400 ) - - (686,400 ) Net income attributable to noncontrolling interests (76,108 ) (90,928 ) - (167,036 ) Net Income Attributable to Roan Holding Group Co., Ltd.’s shareholders $ 23,526,400 $ 2,576,365 (637,680 ) $ 25,465,085 Weighted average number of ordinary share outstanding Basic 25,287,887 - - 25,287,887 Diluted 25,287,887 - - 25,287,887 Earnings per share Basic $ 0.93 $ 1.01 Diluted $ 0.93 $ 1.01 * The consolidated statements of income of Lixin was for the period from January 1, 2019 to December 20, 2019. ** The proforma adjustment represents the transaction elimination between Roan and Lixin, amortization of intangible assets arising from the acquisition of $850,240, and deferred income tax benefits of $212,560 in relation to amortization of intangible assets arising from the acquisition. UNAUDITED PRO FORMA CONSOLIDATED INCOME STATEMENTS FOR THE YEAR ENDED December 31, 2018 Roan Lixin Cayman and its subsidiaries* Pro Forma Adjustment** Pro Forma Financial Data Net revenues from services 71,568 2,269,754 - 2,341,322 Net interest loss after provision for loan losses $ (2,150,652 ) $ 498,219 $ - $ (1,652,433 ) Commission and fee income on guarantee services, net - 3,051,078 - 3,051,078 Operating (Loss) Income (2,079,084 ) 5,819,051 - 3,739,967 Other income, net - 334,910 - 334,910 Total Operating Expenses (1,293,223 ) (3,889,261 ) (915,416 ) (6,097,900 ) Income (Loss) Before Income Taxes (3,372,307 ) 2,264,700 (915,416 ) (2,023,023 ) Income tax expenses (17,635 ) (565,505 ) 228,854 (354,286 ) - Net (Loss) Income from continuing operations (3,389,942 ) 1,699,195 (686,562 ) (2,377,309 ) - Net loss from discontinued operations, net of income tax (90,736,365 ) - - (90,736,365 ) Net (Loss) Income (94,126,307 ) 1,699,195 (686,562 ) (93,113,674 ) Dividend – Convertible Redeemable Class A preferred stock (686,400 ) - - (686,400 ) Net income attributable to noncontrolling interests (76 ) (127,514 ) - (127,590 ) Net (Loss) Income Attributable to Roan Holding Group Co., Ltd.’s shareholders $ (94,812,783 ) $ 1,571,681 (686,562 ) $ (93,927,664 ) Weighted average number of ordinary share outstanding Basic 24,380,051 - - 24,380,051 Diluted 24,380,051 - - 24,380,051 Loss per share Basic $ (3.89 ) $ (3.85 ) Diluted $ (3.89 ) $ (3.85 ) * The consolidated statements of income of Lixin was for the period from January 1, 2018 to December 31, 2018. ** The proforma adjustment represents the amortization of intangible assets arising from the acquisition of $915,416, and deferred income tax benefits of $228,854 in relation to amortization of intangible assets arising from the acquisition. UNAUDITED PRO FORMA CONSOLIDATED INCOME STATEMENTS FOR THE YEAR ENDED December 31, 2017 Roan Lixin Cayman and its subsidiaries* Pro Forma Adjustment** Pro Forma Financial Data Revenues from services - 1,376,661 - 1,376,661 Net interest loss after provision for loan losses $ 1,063,875 $ 812,181 $ - $ 1,876,056 Commission and fee income on guarantee services, net - 6,914,962 - 6,914,962 Operating (Loss) Income 1,063,875 9,103,804 - 10,167,679 Non-interest income, net - 10,028 - 10,028 Total Non-interest Expenses (2,219,281 ) (4,049,428 ) (896,116 ) (7,164,825 ) (Loss) Income Before Income Taxes (1,155,406 ) 5,064,404 (896,116 ) 3,012,882 Income tax expenses (250,245 ) (1,296,063 ) 224,029 (1,322,279 ) - Net (Loss) Income from continuing operations (1,405,651 ) 3,768,341 (672,087 ) 1,690,603 - Net loss from discontinued operations, net of income tax (53,377,622 ) - - (53,377,622 ) Net (Loss) Income (54,783,273 ) 3,768,341 (672,087 ) (51,687,019 ) Dividend – Convertible Redeemable Class A preferred stock (686,400 ) - - (686,400 ) Net income attributable to noncontrolling interests - (248,730 ) - (248,730 ) Net (Loss) Income Attributable to Roan Holding Group Co., Ltd.’s shareholders $ (55,469,673 ) $ 3,519,611 (672,087 ) $ (52,622,149 ) Weighted average number of ordinary share outstanding Basic 17,343,763 - - 17,343,763 Diluted 17,343,763 - - 17,343,763 Loss per share Basic $ (3.20 ) $ (3.03 ) Diluted $ (3.20 ) $ (3.03 ) * The consolidated statements of income of Lixin was for the period from January 1, 2017 to December 31, 2017. ** The proforma adjustment represents the amortization of intangible assets arising from the acquisition of $896,116, and deferred income tax benefits of $224,029 in relation to amortization of intangible assets arising from the acquisition.

Disposition of Feng Hui

Disposition of Feng Hui	12 Months Ended
	Dec. 31, 2019
Desposition Of Feng Hui [Abstract]
DESPOSITION OF FENG HUI	5. DISPOSITION OF FENG HUI On July 31, 2019, the Company entered into a framework agreement (the “Agreement”) with Zhejiang Zhongfeng Investment Management Co., Ltd. (“Zhongfeng”), pursuant to which Zhongfeng will acquire a 100% equity interest in Feng Hui, a variable interest entity of the Company. Feng Hui primarily provides loan facilitation services to micro, small and medium sized enterprises in the Xinjiang Uygur Autonomous Region. The consideration was approximately $1.44 million (RMB 10 million), and the Company received $504,713 (RMB 3.5 million) for the year ended December 31, 2019. As of December 31, 2019, the Company had an outstanding receivable of $932,836 (RMB 6.5 million) due from Zhejiang Zhongfeng. On April 30, 2020, the Company subsequently received additional $0.43 million (RMB 3.0 million) from Zhongfeng. Upon completion of the disposition on November 22, 2019, the Company released all equity interests to Feng Hui’s shareholders and those interests were transferred to Zhongfeng through Feng Hui’s shareholders. Zhongfeng assumed all assets and obligations of Feng Hui. Upon the closing of the transaction, the Company does not bear any contractual commitment or obligation to the microcredit business or the employees of Feng Hui, nor to the Purchaser. On November 22, 2019, management was authorized to approve and commit to a plan to sell Feng Hui, therefore the major assets and liabilities relevant to the disposal are reported as components of total assets and liabilities separate from those balances of the continuing operations. At the same time, the results of all discontinued operations, less applicable income taxes, are reported as components of net income (loss) separate from the net loss of continuing operations in accordance with ASC 205-20-45. The assets relevant to the sale of Feng Hui with a carrying value of $1.59 million were classified as assets held for sale as of November 22, 2019. The assets held for sale mainly consisted of loan receivables, net of doubtful allowance of $1.56 million due from third parties. The liabilities relevant to the sale of Feng Hui with a carrying value of $57.60 million were classified as liabilities held for sale as of November 22, 2019, which was comprised of loans of $36.22 million and other current liabilities of $20.61 million. A net gain of $54.75 million was recognized as the net gain from disposal of discontinued operation in 2019, all attributable to the Company’s shareholders. The following is a reconciliation of net gain of $54.75 million from disposition in the consolidated statements of operations and comprehensive income (loss): Fair value Consideration in exchange for the disposal $ 1,435,132 Less: Net liabilities (comprised of assets of $1,593,879 and liabilities of $57,601,524) (56,007,645 ) Gains from disposal 57,442,777 Other comprehensive loss (2,691,969 ) Net gain from discontinued operations $ 54,750,808 In accordance with ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, a disposal of a component of an entity or a group of components of an entity is required to be reported as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when the components of an entity meets the criteria in paragraph ASC205-20-45-1E to be classified as held for sale. When all of the criteria to be classified as held for sale are met, including management, having the authority to approve the action, commits to a plan to sell the entity, the major current assets, other assets, current liabilities, and noncurrent liabilities shall be reported as components of total assets and liabilities separate from those balances of the continuing operations. At the same time, the results of all discontinued operations, less applicable income taxes (benefit), shall be reported as components of net income (loss) separate from the net income (loss) of continuing operations in accordance with ASC 205-20-45. The following is a reconciliation of the carrying amounts of major classes of assets and liabilities held for sale in the in the consolidated balance sheet as of November 22, 2019 and December 31, 2018. November 22, December 31, Carrying amounts of major classes of assets held for sale: Cash $ 12,397 $ 10,625 Loan receivable, net 1,557,568 25,623,079 Other assets 23,914 890,682 Total assets of disposal group classified as held for sale $ 1,593,879 $ 26,524,386 Carrying amounts of major classes of liabilities held for sale: Loans $ 36,221,099 $ 40,346,674 Other current liabilities 20,611,079 14,851,106 Income tax payable 769,346 786,685 Liabilities directly associated with the assets classified as held for sale $ 57,601,524 $ 55,984,465 The following is a reconciliation of the amounts of major classes of income from operations classified as discontinued operations in the consolidated statements of operations and comprehensive income (loss) for the years ended December 31, 2019, 2018 and 2017: For the Years Ended 2019 2018 2017 Discontinued Operations Total interest and fees income $ 3,514 $ 141,921 $ 14,897,253 Total interest expenses (6,314,400 ) (6,870,408 ) (7,367,549 ) Provision for loan losses (24,702,109 ) (83,539,532 ) (54,734,562 ) Other operating expenses 3,108,205 (468,346 ) (3,668,260 ) Income tax expenses - - (2,504,504 ) Net gain from discontinued operations 54,750,808 - - Net income (loss) from discontinued operations $ 26,846,018 $ (90,736,365 ) $ (53,377,622 )

Restricted Cash

Restricted Cash	12 Months Ended
	Dec. 31, 2019
Disclosure Text Block Supplement [Abstract]
RESTRICTED CASH	6. RESTRICTED CASH Restricted cash represents cash pledged with banks and financial institutions as guarantor deposit for the Company’s guarantee service customers. The banks providing loans to the Company’s guarantee service customers generally require the Company, as the guarantor of the loans, to pledge a cash deposit usually in the range of 10% to 20% of the guaranteed amount, and the other financial institutions requires of a cash deposit of 50% of the guaranteed amount. The deposits are released after the guaranteed bank loans are paid off and the Company’s guarantee obligation expires which is usually within 12 months. At the same time, the Company requires the guarantee service customers to make a deposit to the Company of the same amount as the deposit the Company pledged to the banks for their loans if the customer does not pledge or collateralize other assets with the Company. The Company recorded the deposit received as restricted cash on the consolidated balance sheet. The deposit is returned to the customer after the customer repays the bank loan and the Company’s guarantee obligation expires.

Short-Term Investment

Short-Term Investment	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
SHORT-TERM INVESTMENT	7. SHORT-TERM INVESTMENT As of December 31, 2019, the balance of short-term investment was comprised of investments in financial product from a Chinese bank, with variable return rate and was due in six months. The Company classified the financial assets as held-to-maturity financial asset and recorded the assets at amortized cost, which approximates fair value. The fair value is referred to the value of the short-term investments on the bank statements as of each reporting date. As of December 31, 2019 and 2018, the Company did not provide OTTI on short-term investments. The following table summarizes the amortized cost and fair value of our short-term investments as of December 31, 2019. Amortized cost Fair value Short-term investments Due within six months $ 8,610,796 $ 8,610,796 Total $ 8,610,796 $ 8,610,796

Accounts Receivable, Net

Accounts Receivable, Net	12 Months Ended
	Dec. 31, 2019
Credit Loss, Additional Improvements [Abstract]
ACCOUNTS RECEIVABLE, NET	8. ACCOUNTS RECEIVABLE, NET As of December 31, 2019 and 2018, the accounts receivable consisted of the following: December 31, December 31, Accounts receivable $ 4,132,819 $ - Less: allowance for doubtful accounts (405,802 ) - $ 3,727,017 $ - Movement of allowance for doubtful accounts was as follows: December 31, December 31, Balance at beginning of the year $ - $ - Acquired from Lixin 403,451 - Provisions - - Foreign exchange (gain) loss 2,351 - Balance at ending of the year $ 405,802 $ -

Loans Receivable Due From Facto

Loans Receivable Due From Factoring Customers	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
LOANS RECEIVABLE DUE FROM FACTORING CUSTOMERS	9. LOANS RECEIVABLE DUE FROM FACTORING CUSTOMERS As of December 31, 2019 and 2018, the loans receivable due from factoring customers consisted of the following: December 31, December 31, Loans receivable $ - $ 64,702,803 Less: allowance for doubtful accounts - - $ - $ 64,702,803 For the years ended December 31, 2019 and 2018, the Company disbursed loans of $43,422,881 and $67,258,135 to four and one factoring customers, respectively. The loan terms varied from two months to one year. As of December 31, 2019, the Company collected all principals and interests from these factoring customers. For the years ended December 31, 2019 and 2018, the Company earned interest income from loans of $2,782,332 and $35,229, respectively.

Loans Due From Third Parties

Loans Due From Third Parties	12 Months Ended
	Dec. 31, 2019
Loan Due From Third Parties [Abstract]
LOANS DUE FROM THIRD PARTIES	10. LOANS DUE FROM THIRD PARTIES December 31, December 31, Loans due from third parties (1) $ 5,952,223 $ - Loans from direct loan customers (2) 4,870,838 4,934,861 Less: allowance for doubtful accounts (4,870,838 ) (2,680,077 ) $ 5,952,223 $ 2,254,784 (1) As of December 31, 2019, the balance of loans due from third parties was mainly comprised of loans of $3,157,292 and $2,776,982 due from two third parties, and a non-interest bearing loan of $17,949 due from one third party. The two loans are due on December 31, 2020 and September 24, 2020, respectively. Both loans were fully pledged with the customer’s outstanding trade receivable and charges an interest rate of 8% from customers. As of December 31, 2019, the Company recorded an interest receivable of $1,111,322 in the account of “other current assets” (Note 11). (2) All loans from direct loan customers are short-term loans that the Company has made to both business and individual customers. As of December 31, 2019 and 2018, the Company had four business loan customers, and two personal loan customers, respectively. All loans are guaranteed by third parties. Allowance for doubtful accounts is estimated on a quarterly basis based on an assessment of specific evidence indicating doubtful collection, historical experience, loan balance aging and prevailing economic conditions. For the years ended December 31, 2019, 2018 and 2017, a net provision of $2,244,601, $2,176,216 and $565,187 were charged against the consolidated statements of operations and comprehensive income (loss), respectively. For the years ended December 31, 2019, 2018, and 2017, the Company did not charge write-offs against provisions. Interest on loans receivable is accrued and credited to income as earned. The Company determines a loan’s past due status by the number of days that have elapsed since a borrower has failed to make a contractual loan payment. Accrual of interest is generally discontinued when either (i) reasonable doubt exists as to the full, timely collection of interest or principal or (ii) when a loan becomes past due by more than 90 days. As of December 31, 2019, loan balance of $71,757 aged between 180 ~ 365 days, and balance of $4,799,081 aged over one year. Movement of allowance for doubtful accounts was as follows: December 31, December 31, December 31, 2019 2018 2017 Balance at beginning of the year $ 2,680,077 $ 619,910 $ 30,814 Provisions 2,244,601 2,233,650 565,187 Reversals - (57,434 ) - Foreign exchange (gain) loss (53,840 ) (116,049 ) 23,909 Balance at end of the year $ 4,870,838 $ 2,680,077 $ 619,910

Other current assets

Other current assets	12 Months Ended
	Dec. 31, 2019
Disclosure Text Block Supplement [Abstract]
OTHER CURRENT ASSETS	11. OTHER CURRENT ASSETS Other current assets consist of the following: December 31, December 31, Interest receivable $ 1,111,322 $ 34,908 Receivable from disposal of discontinued operations 932,836 - Advances to customers 50,716 - Stamp duties due from former shareholders of Zhejiang Jingyuxin 34,587 - Prepaid legal and consulting expenses - 407,890 Prepaid insurance expenses - 154,582 Others 176,181 216,029 $ 2,305,642 $ 813,409

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	12. PROPERTY AND EQUIPMENT, NET Property and equipment, net consist of the following: December 31, December 31, Electronic equipment $ 136,983 $ 11,265 Vehicles 253,108 29,080 Office equipment 36,919 14,616 Leasehold improvements 46,464 - Building 840,241 - Less: Accumulated depreciation (461,190 ) (26,981 ) $ 852,525 $ 27,980 Depreciation expenses totaled $15,184, $15,897 and $7,134 for the years ended December 31, 2019, 2018 and 2017, respectively.

Intangible Assets, Net

Intangible Assets, Net	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, NET	13. INTANGIBLE ASSETS, NET Intangible assets consist of the following: December 31, December 31, Credit rating system $ 54,156 $ 54,868 Software 4,955 5,021 Customer relationship 157,865 - License 1,994,834 - Non-Compete Agreements 2,468,427 - Other intangible assets 244,487 - Less: Accumulated amortization (48,496 ) (15,845 ) $ 4,876,228 $ 44,044 Amortization expenses totaled $33,138, $6,225 and $6,094 for the years ended December 31, 2019, 2018 and 2017, respectively. The following table sets forth the Company’s amortization expenses for the twelve months ending December 31 of the following years: 2020 $ 924,020 2021 924,020 2022 924,020 2023 871,399 2024 871,399 Thereafter 361,370 $ 4,876,228

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	12 Months Ended
	Dec. 31, 2019
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	14. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consist of the following: December 31, December 31, Accrued payroll $ 312,044 $ 133,448 Accrued rental fee 49,395 - Accrued professional service fee 83,110 140,504 Dividends due to former shareholders of Zhejiang Jingyuxin (1) 170,781 - Interest payable - 24,164 Other current liabilities 95,535 - $ 710,865 $ 298,116 (1) The balance represented the unpaid dividends due to former shareholders of Lixin, who sold equity interests in Lixin to the Company.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	15. INCOME TAXES Cayman Islands Under the current tax laws of the Cayman Islands, the Company is not subject to tax on income or capital gain. Additionally, upon payments of dividends to the shareholders, no Cayman Islands withholding tax will be imposed. British Virgin Islands Under the current tax laws of BVI, the Company’s subsidiary incorporated in the BVI is not subject to tax on income or capital gains. Hong Kong Roan HK and Lixin HK are incorporated in Hong Kong and are subject to Hong Kong Profits Tax on the taxable income as reported in its statutory financial statements adjusted in accordance with relevant Hong Kong tax laws. The applicable tax rate for the first HKD$2 million of assessable profits is 8.25% and assessable profits above HKD$2 million will continue to be subject to the rate of 16.5% for corporations in Hong Kong, effective from the year of assessment 2018/2019. Before that, the applicable tax rate was 16.5% for corporations in Hong Kong. The Company did not make any provisions for Hong Kong profit tax as there were no assessable profits derived from or earned in Hong Kong since inception. Under Hong Kong tax laws, Roan HK and Lixin HK are exempted from income tax on its foreign-derived income and there are no withholding taxed in Hong Kong on remittance of dividends. PRC PRC subsidiaries are subject to PRC Enterprise Income Tax (“EIT”) on the taxable income in accordance with the relevant PRC income tax laws. The EIT rate for companies operating in the PRC is 25%. Income tax expenses consist of the following: For the Years Ended 2019 2018 2017 Current income tax expenses $ 187,067 $ 17,635 $ 238,106 Deferred income tax expenses 57,674 - 12,139 Income tax expenses $ 244,741 $ 17,635 $ 250,245 Below is a reconciliation of the statutory tax rate to the effective tax rate for continuing operations: For the Years Ended 2019 2018 2017 PRC statutory income tax rate 25 % 25 % 25 % Effect of different income tax rate in other jurisdictions (8.2 )% (7.3 )% - % Effect of non-deductible expenses (0.1 )% (0.1 )% (0.3 )% Effect of valuation of deferred tax allowance (27.3 )% (18.2 )% (46.3 )% Effective tax rate (10.6 )% (0.6 )% (21.6 )% Deferred tax assets (liabilities), net as of December 31, 2019 and 2018 consist of the following: December 31, December 31, Deferred tax assets Accrued interest receivable $ 59,489 $ 60,561 Allowance for doubtful loan receivables 1,217,710 670,019 Allowance on doubtful accounts 119,373 - Accrued expenses 15,572 14,635 Net operating loss carrying forward 458,427 41,412 Less: valuation allowance (1,401,891 ) (786,627 ) Total deferred tax assets $ 468,680 $ - Deferred tax liabilities Timing difference on revenue recognition (1,055,711 ) - Recognition of intangible assets arising from business combination (1,148,545 ) - Deferred tax liabilities, net $ (1,735,576 ) $ - As of December 31, 2019 and 2018, the Company had net operating loss carryforwards of $1,846,032 and $210,152, respectively. The net operating loss carryforwards begin to expire in the tax year ending December 31, 2022. The Company reviews deferred tax assets for a valuation allowance based upon whether it is more likely than not that the deferred tax asset will be fully realized. As of December 31, 2019 and 2018, the Company accrued valuation allowance of $1,401,891 and $786,627 against the deferred tax assets based upon management’s assessment as to their realization. The Company recognized deferred tax liabilities related to recognition of intangible assets arising from acquisition of Lixin Cayman and its subsidiaries on December 20, 2019. The deferred tax liabilities will reverse as the intangible assets are amortized for financial statement reporting purposes. The Company evaluates its valuation allowance requirements at end of each reporting period by reviewing all available evidence, both positive and negative, and considering whether, based on the weight of that evidence, a valuation allowance is needed. When circumstances cause a change in management’s judgement about the realizability of deferred tax assets, the impact of the change on the valuation allowance is generally reflected in income from operations. The future realization of the tax benefit of an existing deductible temporary difference ultimately depends on the existence of sufficient taxable income of the appropriate character within the carryforward period available under applicable tax law. Uncertain tax positions The Company evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of December 31, 2019 and 2018, the Company did not have any significant unrecognized uncertain tax positions or any unrecognized liabilities, interest or penalties associated with unrecognized tax benefit. The Company does not believe that its uncertain tax benefits position will materially change over the next twelve months.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	16. EARNINGS (LOSS) PER SHARE The following table sets forth the computation of basic and diluted loss per common share for the years ended December 31, 2019, 2018 and 2017, respectively: For the Years Ended 2019 2018 2017 Net Income (Loss) Attributable to Roan Holding Group Co., Ltd.’s shareholders $ 23,526,400 $ (94,812,783 ) $ (55,469,673 ) Net Loss from continuing operations attributable to Roan Holdings Group Co., Ltd.’s shareholders $ (3,319,618 ) $ (4,076,418 ) $ (2,092,051 ) Net income (loss) from discontinued operations, net of income tax $ 26,846,018 $ (90,736,365 ) $ (53,377,622 ) Weighted average number of ordinary share outstanding Basic and Diluted* 25,287,887 24,380,051 17,343,763 Earnings per share Net loss per share from continuing operations - Basic and Diluted $ (0.13 ) $ (0.17 ) $ (0.12 ) Net earnings (loss) per share from discontinued operations - Basic and Diluted $ 1.06 $ (3.72 ) $ (3.08 ) Basic loss per share to the ordinary shareholders are computed by dividing the net loss attributable to the ordinary shareholders by the weighted average number of common shares outstanding during the year. Diluted loss per share is the same as basic loss per share due to the lack of dilutive items in the Company for the years ended December 31, 2019, 2018 and 2017. The number of warrants, Class A preferred shares and Class B preferred shares are excluded from the computation as the anti-dilutive effect.

Related Party Transactions and

Related Party Transactions and Balances	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS AND BALANCES	17. RELATED PARTY TRANSACTIONS AND BALANCES 1) Transactions with related parties Upon the acquisition of Lixin Cayman in December 2019, the Company acquired a lease agreement with one related party, which is an associate of Lixin Cayman’s 4.7703% shareholder. The lease agreement was a three-year agreement to be matured in April 2020, with a monthly rental fee of $8,805. For the year ended December 31, 2019, the Company incurred rental expenses of $2,935 from its rental agreements with the related party. During the year ended December 31, 2019, the Company borrowed $279,020 from a related party. The loan was interest free and was payable in March 2020. 2) Balances with related parties As of December 31, 2019, the balance of due from related parties of $2,906 consisted of various advances due on open account and non-interest bearing to various shareholders and other related entities. The Company had no balances with related parties as of December 31, 2018. As of December 31, 2019, the balance of due to related parties of $280,714 was a loan borrowed from a related party. The loan was interest free and was payable in March 2020.

Redeemable Convertible Preferre

Redeemable Convertible Preferred Shares	12 Months Ended
	Dec. 31, 2019
Disclosure Text Block Supplement [Abstract]
REDEEMABLE CONVERTIBLE PREFERRED SHARES	18. REDEEMABLE CONVERTIBLE PREFERRED SHARES Class A Preferred Share On July 6, 2016, the Company sold 715,000 Class A Preferred Shares at a price of $12.00 per Class A Share with an annual dividend of 8%. The Company received gross proceeds of $8,580,000 from this private placement without issuance cost. The Class A Shares were mandatorily redeemable at a price $12.00 per Class A Share (subject to equitable adjustments for stock splits, stock dividends, recapitalizations and other similar adjustments), plus accrued dividends on the fifth anniversary of the original issue date of the Class A Shares (“Mandatory Conversion Date”). Each Class A Share is convertible into one ordinary share (subject to equitable adjustments for stock splits, stock dividends, recapitalizations and other similar adjustments) at shareholder’s option after the closing of an initial acquisition by the Company, whether through a merger, share reconstruction or amalgamation, asset or share acquisition, exchangeable share transaction, contractual control arrangement or other similar type of transaction, with an acquiree at fair value (“Business Combination”). The Class A preferred shares are automatically convertible on the date on which the average closing price of the Company’s ordinary shares for three consecutive trading days, that is equal to or exceeds $16.00, provided that such date is after the closing of the Business Combination. In the event of a Reorganization Event occurring following the closing of the Business Combination (which includes certain business combinations involving the Company or the Company having confirmed that at least 80% of the Class A Shares originally issued have elected to been converted at the election of their holders), each Class A Share outstanding immediately prior to such Reorganization Event shall be redeemed by the Company by making a redemption payment equal to the greater of the following (as reasonably determined by the Company’s Board of Directors): (i) an amount in cash equal to the liquidation preference, plus an amount equal to accumulated and unpaid dividends as of (but excluding) the date of the Reorganization Event, per Class A Share that is so redeemed, or (ii) the kind of securities, cash and other property that the holder of Class A Shares holding such Class A Share would have been entitled to receive if such holder had converted its Class A Shares into ordinary shares immediately prior to such Reorganization Event. The Company did not recognize the beneficial conversion feature for the Class A Preferred shares since each Class A Share is convertible into one ordinary share (subject to equitable adjustments for stock splits, stock dividends, recapitalizations and other similar adjustments) at holder’s option. In accordance with ASC 480, redemption provisions not solely within the control of the Company require the security to be classified outside of permanent equity. ASC 480-10-S99 notes that if a reporting entity issues preferred shares that are conditionally redeemable (e.g., at the holder’s option or upon the occurrence of an uncertain event not solely within the company’s control), the shares are not within the scope of ASC 480 because there is no unconditional obligation to redeem the shares by transferring assets at a specified or determinable date or upon an event certain to occur. If the uncertain event occurs, the condition is resolved, or the event becomes certain to occur, then the shares become mandatorily redeemable under FAS 150 and would require reclassification to a liability. The Class A Preferred Shares have been classified as mezzanine equity in the consolidated financial statement, presented below total liabilities but not included in the subtotal for total equity as of December 31, 2018. The Class A Preferred Share is not deemed to be an embedded derivative instrument to be bifurcated since it’s indexed to its own stock. In December 2019, the Company’s board approved an amendment to the Memorandum and Articles of Association (“M&A”). Pursuant to the new M&A, each Class A Share is convertible into two ordinary share (subject to equitable adjustments for stock splits, stock dividends, recapitalizations and other similar adjustments) at shareholder’s option after the closing of the Business Combination. The Class A preferred shares are automatically convertible on the date on which the average closing price of the Company’s ordinary shares for three consecutive trading days, that is equal to or exceeds $6.00, provided that such date is after the closing of the Business Combination. The new M&A granted the Directors with the rights to convert any or all of the Class A Preferred Shares, in whole or in part, into ordinary shares prior to the Mandatory Conversion Day. In the event of a Reorganization Event occurring following the closing of the Business Combination, the directors also have the rights to convert any or all of the Class A Preferred Shares, in whole or in part, into ordinary shares prior to the Mandatory Conversion Day, or to repurchase or redeem any or all of the Class A Preferred Shares, in whole or in part (but in no event less than one Class A Preferred Share), for a cash amount equal to the value of the Class A Preferred Shares being repurchased or redeemed on an as-converted basis. With the amendment to the M&A, the redemption of Class A Preferred Shares are no longer solely within the control of the holders of these preferred shares. As the Class A Preferred Shares does not embody a unconditional obligation that requires the Company to redeem the preferred shares by transferring cash or assets, and it does not contain a specific date upon which assets must be transferred. The preferred shares are not considered mandatorily redeemable and are scoped out of ASC 480, Liabilities. In addition, the redemption was not solely controlled by the holders of the preferred shares, it was not required to be classified out of permanent equity. The Class A Preferred Shares was classified as an equity as of December 31, 2019. The Company did not recognize the beneficial conversion feature for the Class A Preferred shares since each Class A Share is convertible into two ordinary shares (subject to equitable adjustments for stock splits, stock dividends, recapitalizations and other similar adjustments) at either party’s discretion. The Class A Preferred Share is not deemed to be an embedded derivative instrument to be bifurcated since it’s indexed to its own stock. As of December 31, 2019 and 2018, dividend of $686,400 and $686,400 was accrued for Convertible Redeemable Class A Preferred Shares and the balance for Class A Preferred Shares was $10,338,927 and $9,652,527, respectively. Class B Preferred Share On December 20, 2019, the Company issued 291,795,150 shares of Class B Preferred Shares to exchange 65.0177% equity interest in Lixin Cayman and its subsidiaries. The Class B Preferred Shares are characteristic with 1) No voting rights at a shareholder meeting or on any resolution of members; 2) No rights to receive any dividends declared on any shares of the Company; 3) Rights of liquidation preference. In the event of any liquidation, winding-up or dissolution of the Company, whether voluntary or involuntary, each Class B Holders shall be entitled to receive, in priority to the holders of any other class of Shares in the Company, an amount equal to their pro rata share of the Class B Liquidation Preference Amount, which is calculated at an aggregation of RMB 276,000,000 and liquidation premium of 8% per annum of RMB 276,000,000. The Class B Shares are mandatorily converted into Ordinary Shares of the Company on the second anniversary of the original issue date of the Class B Shares, at a rate of 1 Ordinary Share per Class B Preferred Share so converted, or can be redeemed at a conversion price calculated at the average closing price per share for ninety consecutive trading days before conversion date. Because the Company’s board has the rights to convert any or all of the Class B Preferred Shares, in whole or in part, into ordinary shares. As such, the redemption provisions are solely at the discretion of the Company. In the event of a Reorganization Event occurring following the closing of the an initial acquisition by the Company, whether through a merger, share reconstruction or amalgamation, asset or share acquisition, exchangeable share transaction, contractual control arrangement or other similar type of transaction, with an acquiree at fair value (“Business Combination”), the directors also have the rights to convert any or all of the Class B Preferred Shares, in whole or in part, into ordinary shares prior to the Mandatory Conversion Day, or to repurchase or redeem any or all of the Class B Preferred Shares, in whole or in part (but in no event less than one Class B Preferred Share), for a cash amount equal to the value of the Class B Preferred Shares being repurchased or redeemed on an as-converted basis. As the Class B Preferred Shares does not embody a unconditional obligation that requires the Company to redeem the preferred shares by transferring cash or assets, and it does not contain a specific date upon which assets must be transferred. The preferred shares are not considered mandatorily redeemable and are scoped out of ASC 480, Liabilities. In addition, the redemption provisions are solely at the discretion of the Company. The Class B Preferred Shares was classified as an equity as of December 31, 2019. The Company did not recognize the beneficial conversion feature for the Class B Preferred shares since each Class B Share is convertible into one ordinary share (subject to equitable adjustments for stock splits, stock dividends, recapitalizations and other similar adjustments) at either party’s discretion. The Class B Preferred Share is not deemed to be an embedded derivative instrument to be bifurcated since it’s indexed to its own stock. As of December 31, 2019 and 2018, the balance for Class B Preferred Shares was $31,087,732 (RMB 217,881,478) and $nil, respectively.

Equity

Equity	12 Months Ended
	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
EQUITY	19. EQUITY Ordinary share The Company is authorized to issue unlimited ordinary shares. Holders of the Company’s ordinary shares are entitled to one vote for each share. On July 6, 2018, the Company and certain institutional investors entered into a securities purchase agreement (“Private Placement”), pursuant to which the Company agreed to sell to such investors an aggregate of 769,232 ordinary shares together with Series A warrants to purchase a total of 576,924 ordinary shares (the “Series A Warrants”), for gross proceeds of approximately $2.0 million. Each investor will receive a Series A Warrant to purchase a number of shares equal to 75% of the number of ordinary shares the investor purchases in the offering with a warrant term of four (4) years. The purchase price for each ordinary share and the related Series A Warrants is $2.60. The Series A Warrants have an exercise price of $2.60. In connection with the offering, the investors also received Series B warrants with an initial face amount of 200,000 ordinary shares, which are subject to adjustment not in excess of an aggregate of 462,843 ordinary shares (the “Series B Warrants”) for nominal consideration. If on the 30th day after the closing date of the transaction (the “Adjustment Date”), the closing bid price of the Company’s ordinary shares is less than $2.60, the investors shall have the right to exercise the Series B Warrants and the number of ordinary shares to be issued to the investors upon exercise of the Series B Warrants shall be adjusted (upward or downward, as necessary) based on the closing bid price of the Company’s ordinary shares on such date. The closing of the offering took place on July 10, 2018. On August 9, 2018, the closing bid price of the Company’s ordinary shares was $1.29, and thus the Series B Warrant was exercised for 390,579 ordinary shares. As of December 31, 2019 and 2018, there were 25,287,851 and 25,288,003 ordinary shares issued and outstanding, respectively. Ordinary Shares Held in Escrow Upon consummation of the business combination between the Company and Adrie, an aggregate of 20 million ordinary shares were issued and 8 million of the issued ordinary shares were deposited in escrow (the “Escrow Shares”). One-third of the Escrow Shares (along with the related accrued dividends and distributions) shall be released upon the post-combination company obtaining certain specified adjusted consolidated net income targets in each of calendar years 2016, 2017 and 2018. The target adjusted consolidated net income ranging in 2016 from $20.2 million at the bottom to $32.0 million at the top, in 2017 from $22.6 million at the bottom to $38.0 million at the top, and in 2018 from $25.6 million at the bottom to $44.0 million at the top, and with the average adjusted consolidated net income target for the alternative earn-out payment ranging from $23.3 million at the bottom to $40.0 million at the top. The Company has achieved the earn-out payment requirement in 2016 thus one third of 8 million escrowed restricted shares were released in 2017. However the Company has not achieved the earn-out payment requirement in both 2018 and 2017, thus the two thirds of 8 million escrowed restricted shares were not released. Restricted Shares On April 4, 2018, 1,150 shares of restricted shares were forfeited as the employees resigned from the Company. On September 18, 2018, the Company granted 370,525 shares of restricted shares to four employees and one independent director of the Company for the services provided for the past one year. These shares are vested immediately upon grant. The fair value of restricted shares is determined with reference to the fair value of the underlying shares on grant date and is recognized as expense on the grant date. Share-based compensation expense, when recognized, is charged for the consolidated income statements with the corresponding entry to additional paid-in capital. A summary of the changes in the restricted shares related to ordinary shares granted by the Company during the year ended December 31, 2019 and 2018 is as follows: Number of Weighted Granted and unvested as of December 31, 2017 $ 1,308 $ 7.90 Granted 370,525 0.85 Vested (370,683 ) 0.85 Forfeited (1,150 ) 7.90 Granted and unvested as of December 31, 2018 $ - $ - Granted and unvested as of December 31, 2019 $ - $ - Preferred Shares The Company is authorized to issue unlimited preferred shares, in one or more series, with such designations, voting and other rights and preferences as may be determined from time to time by the board of directors. As of December 31, 2019 and 2018, there were 715,000 Class A preferred shares issued and outstanding. As of December 31, 2019 and 2018, there were 291,795,150 and nil Class B preferred shares issued and outstanding. Warrants A summary of warrants activity for the years ended December 31, 2019 and 2018 is as follows: Number of Weighted Expiration Balance of warrants outstanding as of December 31, 2017 9,280,323 3.52 years July 6, 2021 Grants of Series A Warrants 576,924 4 years July 9, 2022 Grants of Placement Agent Warrant 46,154 4 years July 9, 2022 Grants of Series B Warrants 390,579 0.08 years August 9, 2018 Exercise of Series B Warrants (390,579 ) Balance of warrants outstanding as of December 31, 2018 9,903,401 2.58 years * Balance of warrants outstanding as of December 31, 2019 9,903,401 1.58 years * * As of December 31, 2019 and 2018, the Company’s 9,903,401 shares of warrants were comprised of 9,280,323 shares which would expire on July 6, 2021, and 623,078 shares which would expire on July 9, 2022, respectively. Series A Warrants In connection with the private placement closed on July 10, 2018, the Company issued Series A warrants to investors to purchase a total of 576,924 ordinary shares with a warrant term of four (4) years. The Series A Warrants have an exercise price of $2.60 per share. On January 9, 2019, the Board of the Company approved an downward adjustment of exercise price from $2.6 to $1.18. The Series A Warrants have customary anti-dilution protections including a “full ratchet” anti-dilution adjustment provision which are triggered in the event the Company sells or grants any additional shares of common stock, options, warrants or other securities that are convertible into common stock at a price lower than $2.60 per share. The anti-dilution adjustment provision is not triggered by certain “exempt issuances” which among other issuances, includes the issuance of shares of common stock, options or other securities to officers, employees, directors, consultants or service providers. Based on an evaluation as discussed in FASB ASC 815-15, “Embedded Derivatives” and FASB ASC 815-40-15, “Contracts in Entity’s Own Equity – Scope and Scope Exceptions,” the Company determined that the Series A Warrants were not considered indexed to its own stock because neither the occurrence of a sale of equity securities by the issuer at market nor the issuance of another equity contract with a lower strike price is an input to the fair value of a fixed-for-fixed option or forward on equity shares. As such, the Series A Warrants was classified as a liability. Liability classification requires the warrant to be re-measured to their fair value for each reporting period. As of July 10, 2018, December 31, 2018 and 2019, the Company estimated fair value of the Series A Warrants at $1,202,310, $510,000 and $18,462, respectively, using the Black-Scholes valuation model, which took into consideration the underlying price of ordinary shares, a risk-free interest rate, expected term and expected volatility. As a result, the valuation of the warrant was categorized as Level 3 in accordance with ASC 820, “Fair Value Measurement”. On the July 10, 2018, December 31, 2018 and 2019, the Company estimated the fair value of Series A Warrants using the following assumption. On On On Terms of warrants 48 months 42 months 30 months Exercise price 2.60 2.60 1.18 Risk free rate of interest 2.77 % 2.77 % 1.56 % Dividend yield 0.00 % 0.00 % 0.00 % Annualized volatility of underlying stock 2.03 2.09 2.45 Series B Warrants In connection with the private placement closed on July 10, 2018, the investors also received Series B warrants with an initial face amount of 200,000 ordinary shares, which are subject to adjustment not in excess of an aggregate of 462,843 ordinary shares (the “Series B Warrants”) for nominal consideration. If on the 30th day after the closing date of the transaction (the “Adjustment Date”), the closing bid price of the Company’s ordinary shares is less than $2.60, the investors shall have the right to exercise the Series B Warrants and the number of ordinary shares to be issued to the investors upon exercise of the Series B Warrants shall be adjusted (upward or downward, as necessary) based on the closing bid price of the Company’s ordinary shares on such date. Based on an evaluation as discussed in FASB ASC 815-40-15, “Contracts in Entity’s Own Equity – Scope and Scope Exceptions,” the Company determined that the Series B Warrants were not considered indexed to its own stock because the settlement amount does not equal the difference between the fair value of a fixed number of the Company’s shares and a fixed strike price. Liability classification requires the warrant to be re-measured to their fair value for each reporting period. The Company estimated its fair value of the Series B Warrants at $504,499 using the Black-Scholes valuation model on the July 10, 2018 using the following assumption. On Terms of warrants 1 month Exercise price 0.001 Risk free rate of interest 1.88 % Dividend yield 0.00 % Annualized volatility of underlying stock 0.87 On August 9, 2018, the closing bid price of the Company’s ordinary shares was $1.29, and thus the investors exercised the Series B Warrant for 390,579 ordinary shares at $391. The carrying fair value of the warrant liabilities on the exercise day was $503,847 and the fair value change in warrant liabilities for the years ended December 31, 2018 was $652. The Company incurred a gain of $652 upon exercise of the warrants. Placement Agent Warrants On April 6, 2018, the Company entered into a letter agreement with FT Global Capital, Inc., as exclusive placement agent (the “Placement Agent”), pursuant to which the Placement Agent has agreed to act as placement agent on a best efforts basis in connection with the above offering. In addition to the cash payments, the Company has also agreed to issue to the Placement Agent a warrant to purchase a number of ordinary shares equal to 6.0% of the aggregate number of ordinary shares sold in this offering, which warrant will have the same term as Series A Warrants, including exercise price, vesting period, antidilution terms and etc. As such, same as the classification of Series A Warrants, the Placement Agent Warrants were classified as a liability, which requires the warrant to be re-measured to their fair value for each reporting period. As of July 10, 2018, December 31, 2018 and 2019, the Company estimated fair value of the Placement Agent Warrants at $96,185, $40,800 and $1,477, respectively, using the Black-Scholes valuation model. The assumptions used to estimate the fair value of the warrants were the same as those used for Series A Warrants. Allocation of Issuance Costs In connection with the Private Placement closed on July 10, 2018, the Company incurred direct and incremental issuance costs of $310,000. These costs were allocated to common stock, Series A Warrants and Series B Warrants in proportion to the allocation of proceeds. The issuance costs allocated to common stock were accounted for as a reduction of proceeds of the common stocks, while the issuance costs allocated to warrants were accounted for as non-operating expenses. Statutory reserve The Company’s ability to pay dividends is primarily dependent on the Company receiving distributions of funds from its subsidiary. Relevant PRC statutory laws and regulations permit payments of dividends by the Company’s PRC subsidiaries only out of its retained earnings, if any, as determined in accordance with PRC accounting standards and regulations and after it has met the PRC requirements for appropriation to statutory reserves. Paid in capital of the PRC subsidiaries included in the Company’s consolidated net assets are also non-distributable for dividend purposes. The results of operations reflected in the accompanying consolidated financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of PRC subsidiaries. The Company is required to set aside at least 10% of their after-tax profits each year, if any, to fund certain statutory reserve funds until such reserve funds reach 50% of its registered capital. In addition, the Company may allocate a portion of its after-tax profits based on PRC accounting standards to enterprise expansion fund and staff bonus and welfare fund at its discretion. The statutory reserve funds and the discretionary funds are not distributable as cash dividends. As of December 31, 2019 and 2018, the Company had statutory reserve of $658,662 and $6,621,063, respectively.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
SEGMENT REPORTING	20. SEGMENT REPORTING In accordance with ASC 280, Segment Reporting, operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”), or decision making group, in deciding how to allocate resources and in assessing performance. The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. Management, including the chief operating decision maker, reviews operation results by the revenue of different services. For the year ended December 31, 2019, the Company has two operating business lines, including business conducted by Adrie and its subsidiaries, primarily management and assessment services and factoring business, and business conducted by Lixin Cayman and its subsidiaries, primarily financial guarantee and consulting services. Based on management’s assessment, the Company has determined that the two operating business lines are two operating segments as defined by ASC 280. For the year ended December 31, 2018, the Company has one operating business line and one reporting unit. The following table presents summary information by segment for the years ended December 31, 2019 and 2018: For the Year Ended Business conducted by Adrie and is subsidiaries Business conducted by Lixin Cayman and its subsidiaries Total Net revenues of services $ 452,733 $ 178,407 $ 631,140 Commission and fee income on guarantee services, net - 3,789 3,789 Total interest and fee income 2,784,052 98,776 2,882,828 Interest expenses (2,218,815 ) - (2,218,815 ) Provision for loan losses (2,244,601 ) - (2,244,601 ) Net (loss) income from operation $ (1,226,631 ) $ 280,972 $ (945,659 ) Depreciation $ (12,882 ) $ (2,302 ) $ (15,184 ) Capital expenditures $ (833 ) $ - $ (833 ) Income tax expense $ (185,762 ) $ (58,979 ) $ (244,741 ) Segment (loss) profit from continuing operations $ (2,729,212 ) $ 172,102 $ (2,557,110 ) Segment assets as of December 31, 2019 $ 3,113,525 $ 52,275,757 $ 55,389,282 For the Year Ended Business conducted by Adrie and is subsidiaries Business conducted by Lixin Cayman and its subsidiaries Total Net income from operation, before interest expenses $ (2,053,966 ) $ - $ (2,053,966 ) Interest expenses (25,118 ) - (25,118 ) Net fees income (loss) and revenues $ (2,079,084 ) $ - $ (2,079,084 ) Depreciation $ (15,897 ) $ - $ (15,897 ) Capital expenditures $ - $ - $ - Income tax expense $ (17,635 ) $ - $ (17,635 ) Segment loss from continuing operations $ (3,389,942 ) $ - $ (3,389,942 ) Segment assets as of December 31, 2018 $ 95,668,530 $ - $ 95,668,530

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	21. COMMITMENTS AND CONTINGENCIES Contingencies The Company is involved in various legal actions arising from providing financial guarantee services to defaulted guarantees by Lixin Cayman and its subsidiaries. As of December 31, 2019, Lixin Cayman and its subsidiaries initiated an accumulated 18 legal proceedings against financial guarantee customers to collect delinquent balances of payment on behalf of these guarantee customers, with an aggregated claim of $7.92 million. All these legal proceedings have been adjudicated by the PRC courts in favour of the Company. When the Company closed the Lixin Acquisition on December 20, 2019, 17 legal proceedings were concluded after the enforcement, and one case with a claim of approximately $2.95 million (including principal of $2.85 million and interest of $0.1 million) was adjudicated and in the process of enforcement. As of December 31, 2019, the Company provided financial guarantee of $35,103,876 to financial guarantee customers by Lixin Cayman and its subsidiaries, and had a balance of $4,283,608 due from 10 financial guarantee customers, representing payments on behalf of these financial guarantee customers when they defaulted in repayments to financial institutions. The balance of $4,283,608 consisted $2,845,248 due from one financial guarantee customer, against whom the legal case is still in progress of enforcement, and $1,438,360 due from nine financial guarantee customers, against whom the legal cases were concluded. The Company assessed the payment abilities of these customers, and expected it is remote to collect the balance. As of December 31, 2019, the Company fully wrote off the $4,283,608 on the balance of payment on behalf of financial guarantee customers. From time to time, the Company may be subject to certain legal proceedings, claims and disputes that arise in the ordinary course of business. Although the outcomes of these legal proceedings cannot be predicted, the Company does not believe these actions, in the aggregate, will have a material adverse impact on its financial position, results of operations or liquidity. Lease commitment As of December 31, 2019, the Company leases offices space under seven non-cancellable operating lease arrangements, one of which had over 12 months. The Company considers those renewal or termination options that are reasonably certain to be exercised in the determination of the lease term and initial measurement of right of use assets and lease liabilities. Lease expense for lease payment is recognized on a straight-line basis over the lease term. The Company determines whether a contract is or contains a lease at inception of the contract and whether that lease meets the classification criteria of a finance or operating lease. When available, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of the Company’s leases do not provide a readily determinable implicit rate. Therefore, the Company discount lease payments based on an estimate of its incremental borrowing rate. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The table below presents the operating lease related assets and liabilities recorded on the balance sheets. December 31, Right of use assets $ 400,720 Operating lease liabilities, current portion $ 106,136 Operating lease liabilities, noncurrent portion 265,797 Total operating lease liabilities $ 371,933 As of December 31, 2019, the weighted average remaining lease term was 3.5 years, and discount rates were 4.75% for the operating lease. Rental expense for the years ended December 31, 2019, 2018 and 2017 was $78,756, $10,896 and $nil, respectively. The following is a schedule, by years, of maturities of lease liabilities as of December 31, 2019: Twelve months ended December 31, 2020 $ 107,397 Twelve months ended December 31, 2021 112,767 Twelve months ended December 31, 2022 118,405 Twelve months ended December 31, 2023 60,647 Total lease payments 399,216 Less: imputed interest (27,283 ) Present value of lease liabilities $ 371,933

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	22. SUBSEQUENT EVENTS (1) Change of the Company’s Name (See Note 1 – Organization and principal activities) On January 8, 2020, the Financial Industry Regulatory Authority (“FINRA”) accepted the Company’s request for the following changes on the Over the Counter Bulletin Board (“OTCBB”): 1) the name change from China Lending Corporation to Roan Holdings Group Co., Ltd., and 2) the ticker symbol change from “CLDOF” to “RAHGF” for its ordinary shares and from “CLDCF” to “RONWF” for its warrants. The new CUSIPS of the Company’s ordinary shares and warrants are G7606D 115 and G7606D 107, respectively. (2) Setup of new subsidiaries Ningbo Zeshi Insurance Technology Co., Ltd. (“Zeshi Insurance”) was incorporated on February 28, 2020 under the laws of the PRC. Ding Tai owns 99% of Zeshi Insurance equity interest with the remaining 1% owned by Hangzhou Zeshi. Its principal business is providing insurance technology services and related services. Zeshi (Hangzhou) Health Management Co., Ltd. (“Zeshi Health”) was incorporated on March 3, 2020 under the laws of the PRC. Hangzhou Zeshi and Ningbo Dingtai own 99% and 1%, respectively, of its interest. Zeshi Health provides services in health management, health big data management and blockchain technology-based health information management. (3) The impact of Coronavirus (COVID-19) In December 2019, a novel strain of coronavirus was reported in Wuhan, China. On March 11, 2020, the World Health Organization categorized it as a pandemic. The COVID-19 outbreak is causing lockdowns, quarantines, travel restrictions, and closures of businesses and schools. The potential impact which may be caused by the outbreak is uncertain; however it may result in a material adverse impact on the Company’s financial position, operations and cash flows for fiscal year 2020. Based on the Company’s operating results from January 1, 2020 through the date of this report, due to temporary closure of our office during February 3, 2020 and February 29, 2020, limited support from our workforce, and delay in repayments of outstanding receivables from customers, the Company expects a lower amount of revenue and net income during February to April 2020 period. However, the extent of the impact of COVID-19 on the Company’s results of operations and financial condition for fiscal year 2020 will depend on certain developments, including the duration and spread of the outbreak, impact on its customers, all of which are uncertain and cannot be predicted at this point.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Basis of presentation	(a) Basis of presentation The accompanying audited consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Principal of consolidation	(b) Principal of consolidation The consolidated financial statements include the accounts of the Company, its wholly and majority owned subsidiaries. All transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation.
Non-controlling interest	(c) Non-controlling interest Non-controlling interests represent the equity interests in the subsidiaries that are not attributable, either directly or indirectly, to the Company.
Foreign currency translation	(d) Foreign currency translation Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing on the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates on the date of the balance sheet. The resulting exchange differences are recorded in the statement of operations. The reporting currency of the Company and its subsidiaries (“US$”) and the accompanying consolidated financial statements have been expressed in US$, because that is the primary and functional currency where all entities operate. In general, for consolidation purposes, assets and liabilities of the Company and its subsidiaries whose functional currency is not the US$, are translated into US$, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of consolidated financial statements of the Company and its subsidiaries are recorded as a separate component of accumulated other comprehensive income within the statement of shareholders’ equity. Translation of amounts from RMB into $ has been made at the following exchange rates for the respective periods: December 31, December 31, Balance sheet items, except for equity accounts 6.9680 6.8776 For the Years Ended 2019 2018 2017 Items in the statements of operations and comprehensive income (loss), and statements of cash flows 6.9088 6.6163 6.7588 No representation is made that the RMB amounts could have been, or could be, converted into U.S. dollars at the rates used in translation.
Use of estimates	(e) Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities on the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, management reviews these estimates and assumptions using the currently available information. Changes in facts and circumstances may cause the Company to revise its estimates. The Company bases its estimates on past experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Estimates are used when accounting for items and matters including, but not limited to, determination of fair value of acquiree, determinations of the useful lives and valuation of long-lived assets, estimates of allowances for loan receivables relating to direct loan business, estimates of allowances for other doubtful accounts, valuation of deferred tax assets, assumptions impacting the valuation of ordinary shares, share option, restricted shares and warrant liabilities, and other provisions and contingencies.
Fair value of financial instruments	(f) Fair value of financial instruments The Company’s financial instruments are accounted for at fair value on a recurring basis. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The three levels of the fair value hierarchy are described below: Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments. Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value. As of December 31, 2019 and 2018, financial instruments of the Company comprised primarily current assets and current liabilities including cash and cash equivalents, restricted cash in banks and other financial institutions, accounts receivable, loan receivables, interest and fees receivable, other receivables, dividends payable, income tax payable, other payables, and due from/to related parties, which approximate their fair values because of the short-term nature of these instruments. Short-term investments are held to their maturities and are carried at amortized cost, which approximates fair value. Warrant liabilities The inputs used to measure the estimated fair value of warrant liabilities are classified as Level 3 fair value measurement due to the significance of unobservable inputs using company-specific information. The valuation methodology used to estimate the fair value of warrant liabilities is discussed in Note 19. As of December 31, 2019 and 2018, the Company’s warrant liabilities was comprised of Series A Warrants relating to a private placement closed in July 2018, and the warrants issued to the agent for the private placement, at the aggregated fair value of $19,938 and $550,800, respectively.
Cash and cash equivalents	(g) Cash and cash equivalents Cash and cash equivalents consist of bank deposits with original maturities of three months or less, all of which are unrestricted as to withdrawal and uninsured. Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which at times, may exceed the U.S. Federal depository insurance coverage of $250,000, or other limits of protection if held in financial institutions outside of the U.S., such as Government securities coverage of HK$500,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.
Restricted cash	(h) Restricted cash Restricted cash represents cash pledged with banks and other financial institutions as guarantor deposit for the guarantee business customers. The banks or financial institutions providing loans to the Company’s guarantee service customers generally require the Company, as the guarantor of the loans, to pledge a cash deposit of 10% to 20% of the guaranteed amount to an escrow account and is restricted from use. The deposits are released after the guaranteed loans are paid off and the Company’s guarantee obligation expires which is usually within 12 months.
Short-term investments	(i) Short-term investments Short-term investments consist primarily of investments in financial products with variable return rates and maturities between three months and one year. Short-term investments are held to their maturities and are carried at amortized cost, which approximates fair value because of the short-term nature of these investments. The Company reviews its investments for other-than-temporary impairment (“OTTI”) based on the specific identification method. The Company considers available quantitative and qualitative evidence in evaluating potential impairment of its investments. If the cost of an investment exceeds the investment’s fair value, the Company considers, among other factors, general market conditions, expected future performance of the investees, the duration and the extent to which the fair value of the investment is less than the cost, and the Company’s intent and ability to hold the investment. OTTI is recognized as a loss in the statement of income. For the years ended December 31, 2019, 2018 and 2017, the Company did not provide OTTI on the short-term investments.
Accounts receivable, net	(j) Accounts receivable, net Accounts receivable represents the consulting service fees earned from customers but have not yet collected. An allowance for doubtful accounts is established and recorded based on management’s assessment of potential losses based on the credit history and relationships with the customers. Management reviews its receivables on a regular basis to determine if bad debt allowance is adequate, and adjusts the allowance when necessary. Delinquent account balances are written-off against allowance for doubtful accounts after management has determined that the likelihood of collection is not probable. The Company recognizes a charge-off when management determines that full repayment of the receivable is not probable. The primary factor in making that determination is the potential outcome of a lawsuit against the delinquent debtor. The Company will recognize a charge-off when the Company loses contact with the delinquent customer for more than six months or when the court rules against the Company to collect the outstanding balances. As of December 31, 2019 and 2018, the Company had allowance against doubtful accounts receivable of $405,802 and $nil, respectively. While management uses the best information available to make loan loss allowance evaluations, adjustments to the allowance may be necessary based on changes in economic and other conditions or changes in accounting guidance.
Loans receivable, net relating to direct loan business	(k) Loans receivable, net relating to direct loan business Loans receivable relating to direct loan business primarily represent loan amounts due from customers. Loans receivable are recorded at unpaid principal balances net of allowance against loans receivables that reflects the Company’s best estimate of the amounts that will not be collected. The loans receivable portfolio consists of business and personal loans. The allowance for doubtful loans receivable is increased by charges to income and decreased by charge offs (net of recoveries). Recoveries represent subsequent collection of amounts previously charged-off. The increase in provision for loan losses is the netting effect of “reversal” and “provision” for both business and personal loans. If the ending balance of the provision for loan losses after any charge offs (net of recoveries) is less than the beginning balance, it will be recorded as a “reversal”; if it is larger, it will be recorded as a “provision” in the provision for loan loss. The netting amount of the “reversal” and the “provision” is presented in the consolidated statements of operations and comprehensive income. The Company recognizes a charge-off when management determines that full repayment of a loan is not probable. The primary factor in making that determination is the potential outcome of a lawsuit against the delinquent debtor. The Company will recognize a charge-off when the Company loses contact with the delinquent borrower for more than nine months or when the court rules against the Company to seize the collateral asset of the delinquent debt from either the guarantor or borrower. In addition, when the recoverability of the delinquent debt is highly unlikely, the senior management team will go through a stringent procedure to approve a charge-off. Management estimates the provision balance required using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations and estimated collateral values, economic conditions, and other factors. Allocations of the provision may be made for specific loans, but the entire provision is available for any loan that, in management’s judgment, should be charged-off. The allowance for doubtful loans receivable is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management performs a quarterly evaluation of the adequacy of the provision. The provision is based on the Company’s past loan loss history, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available. The allowance is calculated at portfolio-level since our loans portfolio is generally comprised of smaller balance homogenous loans and is collectively evaluated for impairment. In estimating the probable loss of the loan portfolio, the Company also considers qualitative factors such as current economic conditions and/or events in specific industries and geographical areas, including unemployment levels, trends in real estate values, peer comparisons, and other pertinent factors such as regulatory guidance. Finally, as appropriate, the Company also considers individual borrower circumstances and the condition and fair value of the loan collateral, if any. In addition, the Company calculates the provision amount as below: 1) General Reserve - this reserve covers potential losses due to risks related to the region of China, industry, company or types of loan. The reserve rate is determined by total loan receivable balance and to be used to cover unidentified probable loan loss. 2) Special Reserve - is fund set aside covering losses due to risks related to the region of China, industry, company or type of loans. The reserve rate could be decided based on management estimate of loan collectability. The loan portfolio did not include any loans outside of the PRC. Generally, the primary factors for the evaluation of provision for loan losses consist of business performance, financial position, cash flow and other operational performance of the debtors. Among these, cash flow of the debtors is the primary funding source for repayment for determining the provision for loan losses and any collateral, pledged asset or guarantee is considered as a secondary funding source for repayment. Besides the repayment ability and willingness to repay, the Company evaluates the provision for loan losses of collateral backed loans based on whether the fair value of the collateral if the repayment is expected to be provided by the collateral is sufficient or not. For loans with pledged assets, the net realizable value of pledged assets for pledged backed loans will be estimated to see if they have sufficient coverage on the loans. For the guarantee backed loans, the Company evaluates the provision for loan losses based on the combination of the guarantee, including the fair value and net realizable value of guarantor’s financial position, credibility, liquidity and cash flow. For the years ended December 31, 2019 and 2018, the Company issued guarantee-backed loans in accordance with its loan management policy, and each guarantee-backed loan will undergo standard assessment procedures for willingness and ability of the guarantor to perform under its guarantee. The Company accepts guarantees provided by three types of guarantors: professional guarantee companies, corporations and individuals which includes related parties. 1) In assessing the willingness and ability of a professional guarantee company to perform under a guarantee, the Company consider factors including its guarantee licenses, size of registered capital, corporate governance, internal audit system, risk management and compensation system, risk reserve, length of operation history especially cooperation history with The Company, its default costs and other pertinent factors such as the loan size backed by guarantee over its net assets. 2) In assessing the willingness and ability of a corporate guarantor to perform under a guarantee, the Company consider factors including nature of its businesses, size of registered capital, annual revenues, continuous profitability in the past three years, stability and adequacy of income and cash flows, clean credit history, current liabilities, willingness to accept credit monitoring by the Company, its default costs and other pertinent factors such as the loan size backed by guarantee over its net assets. 3) In assessing the willingness and ability of an individual guarantor to perform under a guarantee, the Company consider factors including their residency, whether being able to provide permanent residential addresses, marital status, occupations, legitimacy and stability of incomes, assets and liabilities, clean credit history, no criminal history, their default costs and other pertinent factors such as the loan size backed by guarantee over their net assets.
Interest and fees receivable	(l) Interest and fees receivable Interest and fee receivables are accrued and credited to income as earned but not received. The Company determines a loan past due status by the number of days that have elapsed since a borrower has failed to make a contractual interest or principal payment. Accrual of interest is generally discontinued when either (i) reasonable doubt exists as to the full, timely collection of interest or principal or (ii) when a loan interest or principal becomes past due by more than 90 days. Additionally, any previously accrued but uncollected interest is reversed. Subsequent recognition of income occurs only to the extent payment is received, subject to management’s assessment of the collectability of the remaining interest and principal. Loans are generally restored to an accrual status when it is no longer delinquent and collectability of interest and principal is no longer in doubt and past due interest is recognized at that time.
Property and equipment	(m) Property and equipment Property and equipment is stated at cost less accumulated depreciation and impairment in value. Depreciation is computed using the straight-line method with residual value rate of 5% based on the estimated useful lives as follows: Electronic equipment 3 years Vehicles 3 - 4 years Office equipment 5 years Leasehold improvements 5 years Building 20 years Costs of repairs and maintenance are expensed as incurred and asset improvements are capitalized. The cost and related accumulated depreciation of assets disposed of or retired are removed from the accounts, and any resulting gain or loss is reflected in the consolidated statement of income and comprehensive income (loss).
Intangible assets, net	(n) Intangible assets, net On December 20, 2019, the Company acquired 65.0177% of Lixin Cayman and its subsidiaries, which are engaged in financial guarantee business, asset management, supply chain financing, and business factoring. The acquisition was accounted for under the acquisition method of accounting which required the Company to perform an allocation of the purchase price to the assets acquired. Under the acquisition method of accounting, the total purchase price is allocated to net tangible and intangible assets based on their estimated fair values as of the acquisition date. Separately identifiable intangible assets that have determinable lives continue to be amortized over their estimated useful lives using the straight-line method as follows: Customer relationship 3 years License 10 years Non-Compete Agreements 4 years Software and others 5-10 years Credit rating system 10 years The Company’s purchased intangible assets are comprised of software and credit rating system for direct loan business. Intangible assets are recognized and measured at fair value upon acquisition, and are amortized over their useful lives in a manner that best reflects their economic benefit, which may include straight line or accelerated methods of amortization. Intangible assets are reviewed for impairment annually and whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company does not have indefinite-lived intangible assets.
Impairment of long-lived assets	(o) Impairment of long-lived assets The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. No impairment of long-lived assets was recognized for the years ended December 31, 2019, 2018 and 2017.
Business combination	(p) Business combination The Company accounted for its business combination using the acquisition method of accounting in accordance with ASC 805 “Business Combinations”. The cost of an acquisition is measured as the aggregate of the acquisition date fair values of the assets transferred and liabilities incurred by the Company to the sellers and equity instruments issued. Transaction costs directly attributable to the acquisition are expensed as incurred. Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date, irrespective of the extent of any non-controlling interests. The excess of (i) the total costs of acquisition, fair value of the non-controlling interests and acquisition date fair value of any previously held equity interest in the acquiree over (ii) the fair value of the identifiable net assets of the acquiree is recorded as goodwill.
Financial guarantee services	(q) Financial guarantee services Financial guarantee service contracts provide guarantees which protects the holder of a debt obligation against default. Pursuant to such guarantee, the Company makes payments if the obligor responsible for making payments fails to do so as scheduled. The contract amounts reflect the extent of involvement the Company has in the guarantee transaction and also represent the Company’s maximum exposure to credit loss in its guarantee business. The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. Financial instruments representing credit risk are as follows: December 31, December 31, Guarantee $ 35,103,876 $ - A provision for possible loss to be absorbed by the Company for the financial guarantee is recorded as an accrued liability when the guarantees are made and recorded as “Reserve for financial guarantee services” on the consolidated balance sheets. This liability represents probable losses and is increased or decreased by accruing an “Provisions or reversals of provisions on financial guarantee services” against the guarantee fee income. As of December 31, 2019 and 2018, the reserve for financial guarantee services amounted to $453,489 and $nil, respectively. This is reviewed throughout the life of the guarantee, as necessary when additional relevant information becomes available. The methodology used to estimate the liability for possible guarantee loss considers the guarantee contract amount and a variety of factors, which include, depending on the counterparty, latest financial position and performance of the borrowers, actual defaults, estimated future defaults, historical loss experience, estimated value of the relevant collateral or guarantees the costumers or third parties offered, and other economic conditions such as the economy trend of the area and the country. The estimates are based upon currently available information (Note 3(ll)). Referring to the historical information and industry experience, the Company estimates the probable loss for immature financial guarantee services to be 1% of contract amount and the probable loss for uncollected guarantee commission to be 50% of outstanding balance. For the years ended December 31, 2019, 2018 and 2017, the Company provided provisions for the financial guarantee services of $5,008, $nil and $nil. The Company reviews the provisions on a quarterly basis. See Note 3(kk) for newly issued accounting guidance ASU 2016-13 for recognition of credit losses on financial instruments, which is effective January 1, 2023 for future measurement of the accrual of financial guarantee liabilities.
Customer pledged deposits	(r) Customer pledged deposits To mitigate the potential credit risks exposure to the financial guarantee services, the Company requires the guarantee service customers to make a deposit to the Company of the same amount as the deposit the Company pledged to the banks for their loans if the customer does not pledge or collateralize other assets with the Company. The Company recorded the deposit received as “customer pledged deposits” on the consolidated balance sheet. The deposit is returned to the customer after the customer repays the bank loan and the Company’s guarantee obligation expires.
Unearned income	(s) Unearned income The Company receives the commissions from guarantee services either in full at inception or in instalments during the guarantee period. For the full collection of commission at inception, the Company initially records commissions as unearned income and amortizes the commission over the period of guarantee.
Warrant liabilities	(t) Warrant liabilities In connection with the issuances of common stocks, the Company may issue options or warrants to purchase common stock. In certain circumstances, these options or warrants may be classified as liabilities, rather than as equity. Warrants classified as equity are initially recorded at fair value and subsequent changes in fair value are not recognized as long as the warrants continue to be classified as equity. Warrants classified as liabilities are initially recorded at fair value with gains and losses arising from changes in fair value recognized in the consolidated statements of operations and comprehensive income (loss) during the period in which such instruments are outstanding.
Revenue recognition	(u) Revenue recognition The Company adopted ASC 606, Revenue from Contracts with Customers (“ASC 606”) on January 1, 2018, using the modified retrospective approach. ASC 606 establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. The Company has assessed the impact of the guidance by reviewing its existing customer contracts and current accounting policies and practices to identify differences that will result from applying the new requirements, including the evaluation of its performance obligations, transaction price, customer payments, transfer of control and principal versus agent considerations. Based on the assessment, the Company concluded that there was no change to the timing and pattern of revenue recognition for its current revenue streams in scope of ASC 605 and therefore there was no material changes. Pursuant to ASC606-10-15-2, the interest income generated from direct loan business, factoring business and financial guarantee income generated by financial guarantee business are scoped out of ASC606. Management and assessment services Service fees for management and assessment services are paid by customers for the management and assessment services provided during the loan period. The Company recognizes the revenue over the loan period using a time-based measure of progress. Consulting services for financial guarantee customers The Company provided financial consulting services to financial guarantee customers. Pursuant to the contracts with customers, the Company facilitated financial guarantee services between customers and financial guarantors, and charged referral fees at a fixed amount. The performance obligations are completed and control of the service is transferred at the inception of financial guarantee period. Transaction prices are generally paid upon successful facilitation. The Company recognizes the revenue at the inception of guarantee period. Consulting services relating to debt collection services For the year ended December 31, 2019, the Company entered into agreements with certain factoring companies to provide consulting services relating to debt collection services for these customers. The management consulting services either involved two performance obligations which are to assist the customers to obtain court judgments on outstanding debt and to assist the customers to receive repayment on outstanding debt, or one performance obligation which is to assist the customers to receive repayment on outstanding debt. Pursuant to the contracts with customers, the service fees are fixed and payable upon the completion of each performance obligation. In addition, a collection amount based incentive is agreed in the agreements. As of December 31, 2019, the Company did not include incentive in the transaction price because the Company had limited information on the collection amount of outstanding debts. The transaction price is allocated to each performance obligation based on the relative standalone selling prices of the services being provided to the customer. 1) For the Company’s assistance with customers to obtain court judgments on outstanding debt, the customers receive and consume benefits from the services provided by the Company, and thus the Company recognized revenues over period. The Company measures progress towards completion of the performance obligation by using input method based on the staff cost incurred. 2) For the Company’s assistance with customers to receive repayment on outstanding debt, the Company recognized revenues upon collection of outstanding debts. The following table identifies the disaggregation of our revenue from services for the years ended December 31, 2019, 2018 and 2017, respectively. For the Years Ended 2019 2018 2017 Management and assessment services $ 135,938 $ 71,568 $ - Consulting services for financial guarantee customers 9,503 - - Consulting services relating to debt collection 493,779 - - $ 639,220 $ 71,568 $ -
Interest income on loans	(v) Interest income on loans Interest on loan receivables is accrued monthly in accordance with their contractual terms and recorded in accrued interest receivable. The Company does not charge prepayment penalties. Additionally, any previously accrued but uncollected interest is reversed and accrual is discontinued, when either (i) reasonable doubt exists as to the full, timely collection of interest or principal or (ii) when a loan becomes past due by more than 90 days.
Interest income from factoring business	(w) Interest income from factoring business Interest income from factoring business is recognized ratably on a monthly basis in accordance with their contractual terms and recorded in accrued interest receivable. The Company does not charge prepayment penalties.
Financial guarantee commission	(x) Financial guarantee commission The Company receives the commissions from guarantee services either in full at inception or in instalments during the guarantee period. For the full collection of commission at inception, the Company initially records commissions as unearned income and amortizes the commission over the period of guarantee.
Operating expenses	(y) Operating expenses Operating expenses consisted of salaries and employee surcharge, business taxes and surcharges, other operating expenses and changes in fair value of warrant liabilities. The other operating expenses primarily consisted of legal and consulting expenses, depreciation and amortization expenses, rental expenses and others.
Employee benefits	(z) Employee benefits The full-time employees of the Company are entitled to staff welfare benefits including medical care, housing fund, pension benefits, unemployment insurance and other welfare, which are government mandated defined contribution plans. The Company is required to accrue for these benefits based on certain percentages of the employees’ respective salaries, subject to certain ceilings, in accordance with the relevant PRC regulations, and make cash contributions to the state-sponsored plans out of the amounts accrued. Total expenses for the plans were $31,012, $33,999, and $88,519 for the years ended December 31, 2019, 2018, and 2017, respectively.
Operating leases	(aa) Operating leases In February 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU 2016-02, Leases (Topic 842), which is effective for annual reporting periods (including interim periods) beginning after December 15, 2018, and early adoption is permitted. The Company adopted the Topic 842 on January 1, 2019 using a modified retrospective approach reflecting the application of the standard to leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements. The Company leases its offices which are classified as operating leases in accordance with Topic 842. Under Topic 842, lessees are required to recognize the following for all leases (with the exception of short-term leases) on the commencement date: (i) lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (ii) right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. As permitted by ASC 842, leases with expected durations of less than 12 months from inception (i.e. short-term leases) were excluded from the Company’s calculation of its lease liability and right-of-use asset. Furthermore, the Company elected to apply the package of practical expedients, which allows companies not to reassess: (a) whether its expired or existing contracts are or contain leases, (b) the lease classification for any expired or existing leases, and (c) initial direct costs for any existing leases. At the commencement date, the Company recognizes the lease liability at the present value of the lease payments not yet paid, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate for the same term as the underlying lease. The right-of-use asset is recognized initially at cost, which primarily comprises the initial amount of the lease liability, plus any initial direct costs incurred, consisting mainly of brokerage commissions, less any lease incentives received. All right-of-use assets are reviewed for impairment. No impairment for right-of-use lease assets as of December 31, 2019 and 2018.
Share-based compensation	(bb) Share-based compensation Share-based awards granted to the Company’s employees are measured at fair value on grant date and share-based compensation expense is recognized (i) immediately at the grant date if no vesting conditions are required, or (ii) using the accelerated attribution method, net of estimated forfeitures, over the requisite service period. The fair value of share options is determined using the Black-Scholes valuation model and the fair value of restricted shares and restricted share units (“RSUs”) is determined with reference to the fair value of the underlying shares. Share-based awards granted to non-employees are initially measured at fair value on the grant date and remeasured at each reporting date through the vesting date. Such value is recognized as expense over the respective service period, net of estimated forfeitures. Share-based compensation expense, when recognized, is charged for the consolidated statements of operations and comprehensive income (loss) with the corresponding entry to additional paid-in capital. At each date of measurement, the Company reviews internal and external sources of information to assist in the estimation of various attributes to determine the fair value of the share-based awards granted by the Company, including but not limited to the fair value of the underlying shares, expected life, expected volatility and expected forfeiture rates. The Company is required to consider many factors and make certain assumptions during this assessment. If any of the assumptions used to determine the fair value of the share-based awards changes significantly, share-based compensation expense may differ materially in the future from that recorded in the current reporting period. The Company recognizes the impact of any revisions to the original forfeiture rate assumptions in the consolidated statements of operations and comprehensive income (loss), with a corresponding adjustment to equity.
Value added tax	(cc) Value added tax The Company is subject to value added tax (“VAT”) and related surcharges on the revenues earned for services provided in the PRC. The applicable rate of value added tax is 6%. The related surcharges for revenues derived from provision medical courses are deducted from gross receipts to arrive at net revenues.
Income taxes	(dd) Income taxes The Company accounts for income taxes in accordance with the U.S. GAAP for income taxes. Under the asset and liability method as required by this accounting standard, the recognition of deferred income tax liabilities and assets for the expected future tax consequences of temporary differences between the income tax basis and financial reporting basis of assets and liabilities. Provision for income taxes consists of taxes currently due plus deferred taxes. The charge for taxation is based on the results for the year as adjusted for items which are non-assessable or disallowed. It is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date. Deferred tax is accounted for using the balance sheet liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the consolidated financial statements and the corresponding tax basis. Deferred tax assets are recognized to the extent that it is probable that taxable income to be utilized with prior net operating loss carried forwards. Deferred tax is calculated using tax rates that are expected to apply to the period when the asset is realized or the liability is settled. Deferred tax is charged or credited in the income statement, except when it is related to items credited or charged directly to equity. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. As of December 31, 2019, income tax returns for the tax years ended December 31, 2014 through December 31, 2018 remain open for statutory examination.
Earnings (Loss) per share	(ee) Earnings (Loss) per share Basic earnings (loss) per ordinary share is computed by dividing net earnings attributable to ordinary shareholders by the weighted-average number of ordinary shares outstanding during the period. Diluted earnings per share is computed by dividing net income attributable to ordinary shareholders by the sum of the weighted average number of ordinary share outstanding and of potential ordinary share (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential ordinary share that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted earnings per share. For the years ended December 31, 2019, 2018 and 2017, the Company had no dilutive stocks.
Comprehensive income (loss)	(ff) Comprehensive income (loss) A Comprehensive income (loss) includes net income (loss) and other comprehensive income (loss) arising from foreign currency adjustments. Comprehensive income is reported in the consolidated statements of operations and comprehensive income (loss).
Commitments and contingencies	(gg) Commitments and contingencies In the normal course of business, the Company is subject to loss contingencies, such as legal proceedings and claims arising out of its business, that cover a wide range of matters, including, among others, government investigations and tax matters. In accordance with ASC No. 450 Sub topic 20, “Loss Contingencies”, the Company records accruals for such loss contingencies when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated.
Segment reporting	(hh) Segment reporting In accordance with ASC 280, Segment Reporting, operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”), or decision making group, in deciding how to allocate resources and in assessing performance. The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. Management, including the chief operating decision maker, reviews operation results by the revenue of different services. For the year ended December 31, 2019, the Company had two operating business lines, including business conducted by Adrie and its subsidiaries, primarily management and assessment services and factoring business, and business conducted by Lixin Cayman and its subsidiaries, primarily financial guarantee and consulting services. Based on management’s assessment, the Company has determined that the two operating business lines are two operating segments as defined by ASC 280 (Note 20).
Discontinued operation	(ii) Discontinued operation In accordance with ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, a disposal of a component of an entity or a group of components of an entity is required to be reported as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when the components of an entity meets the criteria in paragraph 205-20-45-1E to be classified as held for sale. When all of the criteria to be classified as held for sale are met, including management, having the authority to approve the action, commits to a plan to sell the entity, the major current assets, other assets, current liabilities, and noncurrent liabilities shall be reported as components of total assets and liabilities separate from those balances of the continuing operations. At the same time, the results of all discontinued operations, less applicable income taxes (benefit), shall be reported as components of net income (loss) separate from the net income (loss) of continuing operations in accordance with ASC 205-20-45. On November 22, 2019, Feng Hui, the VIE of the Company, met all the conditions required in order to be classified as a discontinued operation (Note 1). Accordingly, the operating results of Feng Hui are reported as a gain (loss) from discontinued operations in the accompanying consolidated financial statements for all periods presented. In addition, the assets and liabilities related to the VIE are reported as assets and liabilities of discontinued operations in the accompanying consolidated balance sheets at December 31, 2018. For additional information, see Note 5, “Disposition of Feng Hui”.
Reclassification	(jj) Reclassification Certain items in the consolidated financial statements of comparative period have been reclassified to conform to the consolidated financial statements for the current period, primarily for the effects of discontinued operations, and reclassification of operating income as a result of acquisition of Lixin Cayman and its subsidiaries.
Recently issued accounting pronouncements	(kk) Recently issued accounting pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses Measurement of Credit Losses on Financial Instruments In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement,” to improve the effectiveness of disclosures in the notes to financial statements related to recurring or nonrecurring fair value measurements by removing amounts and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, policies for timing of transfers between different levels for fair value measurements, and the valuation processes for Level 3 fair value measurements. The new standard requires disclosure of the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The amendments in this update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company does not expect that the adoption of this ASU will have a material impact on its consolidated financial statements. The Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the consolidated financial position, statements of operations and cash flows.
Significant risks and uncertainties	(ll) Significant risks and uncertainties 1) Credit risk Credit risk is one of the most significant risks for the Company’s business. Credit risk exposures arise principally in financial guarantee activities which is an off-balance sheet financial instrument. Credit risk is controlled by the application of credit approvals, limits and monitoring procedures including due-diligence visits and post-lending visits to the clients. The Company manages credit risk through in-house research and analysis of the Chinese economy and the underlying obligors and transaction structures. To minimize credit risk, the Company requires collateral in the form of rights to cash, securities or property and equipment. The Company identifies credit risk collectively based on industry, geography and customer type. This information is monitored regularly by management. - Financial guarantee activities In measuring the credit risk of financial guarantee services with customers, the Company mainly reflects the “probability of default” by the customer on its contractual obligations and considers the current financial position of the customer and the exposures to the customer and its likely future development. The Company manages their credit risk guarantee exposure by performing preliminary credit checks of each guarantee customer and ongoing monitoring of payments each month. Management periodically reviews the probability of default of guarantee customer and will accrue a guarantee liability when necessary. In addition, the Company calculates the provision amount as below: 1. General Reserve - is based on total balance of off-balance-sheet guarantee and to be used to cover unidentified probable loan loss. According to management assessment, the General Reserve is required to be no less than 1% of total loan guarantee balance. 2. Specific Reserve – is based on a guarantee by guarantee basis covering losses due to risks related to the ability and intention of repayment of guarantee commissions by each customer. The reserve rate was individually assessed based on management estimate of guarantee fee commission collectability. According to management assessment, the Specific Reserve is no less than 50% of guarantee fee commission earned during the year. The Company has been providing the financial guarantees of loans for limited history. The customer deposits or other assets are held as collateral for the repayment of each loan. As of December 31, 2019, the amount of outstanding loans and related interests that the Company has guaranteed is approximately $35.1 million. The Company estimates the fair market value of the collateral to be approximately $61.4 million as of December 31, 2019. - Other operating activities Assets that potentially subject the Company to significant concentration of credit risk primarily consist of cash, cash equivalents and restricted cash. The maximum exposure of such assets to credit risk is their carrying amount as at the balance sheet dates. As of December 31, 2019, the Company had no deposits with a bank in the United States. As of December 31, 2019, cash of $6,911,592 and restricted cash of $15,233,933, respectively, were primarily deposited in banks located in Mainland China, which were uninsured by the government authority. To limit exposure to credit risk relating to deposits, the Company primarily place cash deposits with large financial institutions in China which management believes are of high credit quality. The Company’s operations are carried out in Mainland China. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environments in the PRC as well as by the general state of the PRC’s economy. In addition, the Company’s business may be influenced by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, rates and methods of taxation, and the extraction of mining resources, among other factors. 2) Liquidity risk The Company is also exposed to liquidity risk which is risk that it is unable to provide sufficient capital resources and liquidity to meet its commitments and business needs. Liquidity risk is controlled by the application of financial position analysis and monitoring procedures. When necessary, the Company will turn to other financial institutions and the shareholders to obtain short-term funding to meet the liquidity shortage. 3) Foreign currency risk Substantially all of the Company’s operating activities and the Company’s assets and liabilities are denominated in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the Peoples’ Bank of China (“PBOC”) or other authorized financial institutions at exchange rates quoted by PBOC. Approval of foreign currency payments by the PBOC or other regulatory institutions requires submitting a payment application form together with suppliers’ invoices and signed contracts. The value of RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China Foreign Exchange Trading System market. 4) Other risk The Company’s business, financial condition and results of operations may also be negatively impacted by risks related to natural disasters, extreme weather conditions, health epidemics and other catastrophic incidents, such as the COVID-19 outbreak and spread, which could significantly disrupt the Company’s operations (Note 22).

Organization and Principal Ac_2

Organization and Principal Activities (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Schedule of the company and its subsidiaries	Name Background Ownership Adrie Global Holdings Limited (“Adrie”) ● A BVI company ● Incorporated on November 19, 2014 ● A holding company 100% owned by Roan China Roan Industrial-Financial Holdings Group Co., Limited (“Roan HK”) ● A Hong Kong company ● Incorporated on February 11, 2015 ● A holding company ● Formerly known as China Feng Hui Financial Holding Group Co., Limited 100% owned by Adrie Fortis Health Industrial Group Limited (“FHIG”) ● A Hong Kong company ● Incorporated on December 30, 2019 ● A holding company 100% owned by Adrie Xinjiang Feng Hui Jing Kai Direct Lending Limited (“Jing Kai) ● A PRC company and deemed a wholly foreign owned enterprise ● Incorporated on May 14, 2015 ● Registered capital of $18 million ● A holding company 100% owned by Roan HK Feng Hui Ding Xin (Beijing) Financial Consulting Co., Limited (“Ding Xin”) ● A PRC company and deemed a wholly foreign owned enterprise ● Incorporated on May 20, 2015 ● Registered capital of $1 million with registered capital fully paid-up ● Engaged in the business of financial consulting services 100% owned by Roan HK Ningbo Ding Tai Financial Leasing Co., Limited (“Ding Tai”) ● A PRC company and deemed a wholly foreign owned enterprise ● Incorporated on December 19, 2016 ● Registered capital of $30 million ● Planning for financial lease services 100% owned by Roan HK Xinjiang Xin Quan Financial Leasing Co., Limited (“Xin Quan”) ● A PRC company and deemed a wholly foreign owned enterprise ● Incorporated on January 24, 2017 ● Registered capital of $50 million ● Planning for financial lease services 60% owned by Roan HK Zhiyuan Commercial Factoring (Guangzhou) Co., Limited. (“Zhiyuan”) ● A PRC limited liability company ● Incorporated on November 19, 2018 ● Registered capital of $4,321,434 (RMB 30 million) ● Engaged in business factoring program, financing products design, related corporate financing solutions, investments and asset management 99% owned by Ding Xin Hangzhou Zeshi Investment Partnership (Limited Partnership) (“Zeshi”) ● A PRC limited liability partnership ● Incorporated on December 21, 2017 ● Acquired on November 29, 2019 ● Registered capital of $7,750,878 (RMB 51 million) ● Engaged in business factoring program, financing products design, related corporate financing solutions, investments and asset management 98.04% owned by Ding Tai and 1.96% owned by Ding Xin as of December 31, 2019. Ding Xin transferred the 1.96% equity interest to Nibo Zeshi Insurance Technology Co., Ltd. (“Zeshi Insurance”) Lixin Financial Holdings Group Limited (“Lixin Cayman”) ● A Cayman company ● Incorporated on October 25, 2017 ● A holding company 65.0177% owned by Roan Name Background Ownership Lixin Financial Holdings (BVI) Limited ● A BVI company ● Incorporated on November 29, 2017 ● A holding company 100% owned by Lixin Cayman Lixin Financial Holdings Group Limited (“Lixin HK”) ● A Hong Kong company ● Incorporated on January 15, 2018 ● A holding company 100% owned by Lixin BVI Zhejiang Lixin Enterprise Management Group Go., Ltd. (“Zhejiang Lixin”) ● A PRC limited liability company ● Incorporated on July 3, 2015 ● Registered capital of $16,162,259 (RMB 101 million) with registered capital fully paid-up ● Engaged in financial guarantee services and related assessment and management services 99% owned by Lixin HK and 1% owned by Roan HK Zhejiang Jing Yu Xin Financing Guarantee Co., Ltd (“Zhejiang Jingyuxin”) ● A PRC limited liability company ● Incorporated on January 5, 2013 ● Registered capital of $48,517,261 (RMB 303 million) with registered capital fully paid-up ● Engaged in financial guarantee services and related assessment and management services 93.4% owned by Zhejiang Lixin Lixin (Hangzhou) Asset Management Co., Ltd. (“LAM”) ● A PRC limited liability company ● Incorporated on March 21, 2017 ● Registered capital of $4,358,565 (RMB 30 million) with $2,905,710 registered capital paid-up ● Engaged in provision of consulting and assessment services to customers and facilitates financial guarantee services between customers and guarantors 100% owned by Zhejiang Jingyuxin Lixin Supply Chain Management (Tianjin) Co., Ltd. (“Lixin Supply Chain”) ● A PRC limited liability company ● Incorporated on December 19, 2017 ● Registered capital of $1,513,226 (RMB 10 million) ● Planning for provision of supply chain management service 100% owned by LAM

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Schedule of foreign currency translation and transactions	December 31, December 31, Balance sheet items, except for equity accounts 6.9680 6.8776 For the Years Ended 2019 2018 2017 Items in the statements of operations and comprehensive income (loss), and statements of cash flows 6.9088 6.6163 6.7588
Schedule of property and equipment estimated useful lives	Electronic equipment 3 years Vehicles 3 - 4 years Office equipment 5 years Leasehold improvements 5 years Building 20 years
Schedule of intangible assets estimated useful lives using the straight-line method	Customer relationship 3 years License 10 years Non-Compete Agreements 4 years Software and others 5-10 years Credit rating system 10 years
Schedule of financial guarantee services	December 31, December 31, Guarantee $ 35,103,876 $ -
Schedule of management consulting services	For the Years Ended 2019 2018 2017 Management and assessment services $ 135,938 $ 71,568 $ - Consulting services for financial guarantee customers 9,503 - - Consulting services relating to debt collection 493,779 - - $ 639,220 $ 71,568 $ -

Acquisition of Lixin Cayman (Ta

Acquisition of Lixin Cayman (Tables)	12 Months Ended
	Dec. 31, 2019
Business Combinations [Abstract]
Schedule of estimated fair values for major classes of assets acquired and liabilities	Fair value Net tangible assets (5) $ 44,762,922 Customer relationship (1) 156,950 License (2) 1,983,277 Non-Compete Agreements (3) 2,454,127 Deferred tax liabilities recognized (1,148,589 ) Other intangible assets (4) 243,072 Less: Noncontrolling interests (16,936,604 ) Total purchase consideration $ 31,515,155
Schedule of carrying amounts of major classes of acquired assets	December 20, Carrying amounts of major classes of acquired assets Cash, cash equivalents and restricted cash $ 21,442,122 Short-term investments 8,560,911 Accounts receivable, net 3,252,159 Loan receivable due from third parties 5,917,714 Pledged deposits 5,564,592 Other assets 2,537,990 Total assets $ 47,275,488 Less: total liabilities (2,512,566 ) Net tangible assets $ 44,762,922
Schedule of pro forma financial information includes various assumptions	Roan Lixin Cayman and its subsidiaries* Pro Forma Adjustment** Pro Forma Financial Data Net revenues from services $ 631,140 $ 2,591,381 $ - $ 3,222,521 Net interest loss after provision for loan losses (1,580,588 ) 1,075,726 50,681 (454,181 ) Commission and fee income on guarantee services, net 3,789 1,829,566 (45,192 ) 1,788,163 Operating (Loss) Income (945,659 ) 5,496,673 5,489 4,556,503 Other income, net - 195,519 - 195,519 Total Operating Expenses (1,366,710 ) (2,087,917 ) (855,729 ) (4,310,356 ) (Loss) Income Before Income Taxes (2,312,369 ) 3,604,275 (850,240 ) 441,666 Income tax expenses (244,741 ) (936,982 ) 212,560 (969,163 ) - Net (Loss) Income from continuing operations (2,557,110 ) 2,667,293 (637,680 ) (527,497 ) - Net income from discontinued operations, net of income tax 26,846,018 - - 26,846,018 Net Income 24,288,908 2,667,293 (637,680 ) 26,318,521 Dividend – Convertible Redeemable Class A preferred stock (686,400 ) - - (686,400 ) Net income attributable to noncontrolling interests (76,108 ) (90,928 ) - (167,036 ) Net Income Attributable to Roan Holding Group Co., Ltd.’s shareholders $ 23,526,400 $ 2,576,365 (637,680 ) $ 25,465,085 Weighted average number of ordinary share outstanding Basic 25,287,887 - - 25,287,887 Diluted 25,287,887 - - 25,287,887 Earnings per share Basic $ 0.93 $ 1.01 Diluted $ 0.93 $ 1.01 Roan Lixin Cayman and its subsidiaries* Pro Forma Adjustment** Pro Forma Financial Data Net revenues from services 71,568 2,269,754 - 2,341,322 Net interest loss after provision for loan losses $ (2,150,652 ) $ 498,219 $ - $ (1,652,433 ) Commission and fee income on guarantee services, net - 3,051,078 - 3,051,078 Operating (Loss) Income (2,079,084 ) 5,819,051 - 3,739,967 Other income, net - 334,910 - 334,910 Total Operating Expenses (1,293,223 ) (3,889,261 ) (915,416 ) (6,097,900 ) Income (Loss) Before Income Taxes (3,372,307 ) 2,264,700 (915,416 ) (2,023,023 ) Income tax expenses (17,635 ) (565,505 ) 228,854 (354,286 ) - Net (Loss) Income from continuing operations (3,389,942 ) 1,699,195 (686,562 ) (2,377,309 ) - Net loss from discontinued operations, net of income tax (90,736,365 ) - - (90,736,365 ) Net (Loss) Income (94,126,307 ) 1,699,195 (686,562 ) (93,113,674 ) Dividend – Convertible Redeemable Class A preferred stock (686,400 ) - - (686,400 ) Net income attributable to noncontrolling interests (76 ) (127,514 ) - (127,590 ) Net (Loss) Income Attributable to Roan Holding Group Co., Ltd.’s shareholders $ (94,812,783 ) $ 1,571,681 (686,562 ) $ (93,927,664 ) Weighted average number of ordinary share outstanding Basic 24,380,051 - - 24,380,051 Diluted 24,380,051 - - 24,380,051 Loss per share Basic $ (3.89 ) $ (3.85 ) Diluted $ (3.89 ) $ (3.85 ) Roan Lixin Cayman and its subsidiaries* Pro Forma Adjustment** Pro Forma Financial Data Revenues from services - 1,376,661 - 1,376,661 Net interest loss after provision for loan losses $ 1,063,875 $ 812,181 $ - $ 1,876,056 Commission and fee income on guarantee services, net - 6,914,962 - 6,914,962 Operating (Loss) Income 1,063,875 9,103,804 - 10,167,679 Non-interest income, net - 10,028 - 10,028 Total Non-interest Expenses (2,219,281 ) (4,049,428 ) (896,116 ) (7,164,825 ) (Loss) Income Before Income Taxes (1,155,406 ) 5,064,404 (896,116 ) 3,012,882 Income tax expenses (250,245 ) (1,296,063 ) 224,029 (1,322,279 ) - Net (Loss) Income from continuing operations (1,405,651 ) 3,768,341 (672,087 ) 1,690,603 - Net loss from discontinued operations, net of income tax (53,377,622 ) - - (53,377,622 ) Net (Loss) Income (54,783,273 ) 3,768,341 (672,087 ) (51,687,019 ) Dividend – Convertible Redeemable Class A preferred stock (686,400 ) - - (686,400 ) Net income attributable to noncontrolling interests - (248,730 ) - (248,730 ) Net (Loss) Income Attributable to Roan Holding Group Co., Ltd.’s shareholders $ (55,469,673 ) $ 3,519,611 (672,087 ) $ (52,622,149 ) Weighted average number of ordinary share outstanding Basic 17,343,763 - - 17,343,763 Diluted 17,343,763 - - 17,343,763 Loss per share Basic $ (3.20 ) $ (3.03 ) Diluted $ (3.20 ) $ (3.03 )

Disposition of Feng Hui (Tables

Disposition of Feng Hui (Tables)	12 Months Ended
	Dec. 31, 2019
Desposition Of Feng Hui [Abstract]
Schedule of operations and comprehensive income (loss)	Fair value Consideration in exchange for the disposal $ 1,435,132 Less: Net liabilities (comprised of assets of $1,593,879 and liabilities of $57,601,524) (56,007,645 ) Gains from disposal 57,442,777 Other comprehensive loss (2,691,969 ) Net gain from discontinued operations $ 54,750,808
Schedule of reconciliation of assets and liabilities held for sale consolidated balance sheet	November 22, December 31, Carrying amounts of major classes of assets held for sale: Cash $ 12,397 $ 10,625 Loan receivable, net 1,557,568 25,623,079 Other assets 23,914 890,682 Total assets of disposal group classified as held for sale $ 1,593,879 $ 26,524,386 Carrying amounts of major classes of liabilities held for sale: Loans $ 36,221,099 $ 40,346,674 Other current liabilities 20,611,079 14,851,106 Income tax payable 769,346 786,685 Liabilities directly associated with the assets classified as held for sale $ 57,601,524 $ 55,984,465
Schedule of reconciliation of income from operations classified as discontinued operations	For the Years Ended 2019 2018 2017 Discontinued Operations Total interest and fees income $ 3,514 $ 141,921 $ 14,897,253 Total interest expenses (6,314,400 ) (6,870,408 ) (7,367,549 ) Provision for loan losses (24,702,109 ) (83,539,532 ) (54,734,562 ) Other operating expenses 3,108,205 (468,346 ) (3,668,260 ) Income tax expenses - - (2,504,504 ) Net gain from discontinued operations 54,750,808 - - Net income (loss) from discontinued operations $ 26,846,018 $ (90,736,365 ) $ (53,377,622 )

Short-Term Investment (Tables)

Short-Term Investment (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of amortized cost and fair value	Amortized cost Fair value Short-term investments Due within six months $ 8,610,796 $ 8,610,796 Total $ 8,610,796 $ 8,610,796

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	12 Months Ended
	Dec. 31, 2019
Credit Loss, Additional Improvements [Abstract]
Schedule of accounts receivable	December 31, December 31, Accounts receivable $ 4,132,819 $ - Less: allowance for doubtful accounts (405,802 ) - $ 3,727,017 $ -
Schedule of movement of allowance for doubtful accounts	December 31, December 31, Balance at beginning of the year $ - $ - Acquired from Lixin 403,451 - Provisions - - Foreign exchange (gain) loss 2,351 - Balance at ending of the year $ 405,802 $ -

Loans Receivable Due From Fac_2

Loans Receivable Due From Factoring Customers (Tables)	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Schedule of loans receivable	December 31, December 31, Loans receivable $ - $ 64,702,803 Less: allowance for doubtful accounts - - $ - $ 64,702,803

Loans Due From Third Parties (T

Loans Due From Third Parties (Tables)	12 Months Ended
	Dec. 31, 2019
Loan Due From Third Parties [Abstract]
Schedule of loans due from third parties	December 31, December 31, Loans due from third parties (1) $ 5,952,223 $ - Loans from direct loan customers (2) 4,870,838 4,934,861 Less: allowance for doubtful accounts (4,870,838 ) (2,680,077 ) $ 5,952,223 $ 2,254,784
Schedule of allowance for doubtful accounts	December 31, December 31, December 31, 2019 2018 2017 Balance at beginning of the year $ 2,680,077 $ 619,910 $ 30,814 Provisions 2,244,601 2,233,650 565,187 Reversals - (57,434 ) - Foreign exchange (gain) loss (53,840 ) (116,049 ) 23,909 Balance at end of the year $ 4,870,838 $ 2,680,077 $ 619,910

Other current assets (Tables)

Other current assets (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure Text Block Supplement [Abstract]
Schedule of other current assets	December 31, December 31, Interest receivable $ 1,111,322 $ 34,908 Receivable from disposal of discontinued operations 932,836 - Advances to customers 50,716 - Stamp duties due from former shareholders of Zhejiang Jingyuxin 34,587 - Prepaid legal and consulting expenses - 407,890 Prepaid insurance expenses - 154,582 Others 176,181 216,029 $ 2,305,642 $ 813,409

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Schedule of property and equipment, net	December 31, December 31, Electronic equipment $ 136,983 $ 11,265 Vehicles 253,108 29,080 Office equipment 36,919 14,616 Leasehold improvements 46,464 - Building 840,241 - Less: Accumulated depreciation (461,190 ) (26,981 ) $ 852,525 $ 27,980

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets net	December 31, December 31, Credit rating system $ 54,156 $ 54,868 Software 4,955 5,021 Customer relationship 157,865 - License 1,994,834 - Non-Compete Agreements 2,468,427 - Other intangible assets 244,487 - Less: Accumulated amortization (48,496 ) (15,845 ) $ 4,876,228 $ 44,044
Schedule of amortization expenses	2020 $ 924,020 2021 924,020 2022 924,020 2023 871,399 2024 871,399 Thereafter 361,370 $ 4,876,228

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Payables and Accruals [Abstract]
Schedule accrued expenses and other current liabilities	December 31, December 31, Accrued payroll $ 312,044 $ 133,448 Accrued rental fee 49,395 - Accrued professional service fee 83,110 140,504 Dividends due to former shareholders of Zhejiang Jingyuxin (1) 170,781 - Interest payable - 24,164 Other current liabilities 95,535 - $ 710,865 $ 298,116

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of income tax expense	For the Years Ended 2019 2018 2017 Current income tax expenses $ 187,067 $ 17,635 $ 238,106 Deferred income tax expenses 57,674 - 12,139 Income tax expenses $ 244,741 $ 17,635 $ 250,245
Schedule of effective income tax rate and PRC statutory income tax	For the Years Ended 2019 2018 2017 PRC statutory income tax rate 25 % 25 % 25 % Effect of different income tax rate in other jurisdictions (8.2 )% (7.3 )% - % Effect of non-deductible expenses (0.1 )% (0.1 )% (0.3 )% Effect of valuation of deferred tax allowance (27.3 )% (18.2 )% (46.3 )% Effective tax rate (10.6 )% (0.6 )% (21.6 )%
Schedule of deferred tax assets and liabilities	December 31, December 31, Deferred tax assets Accrued interest receivable $ 59,489 $ 60,561 Allowance for doubtful loan receivables 1,217,710 670,019 Allowance on doubtful accounts 119,373 - Accrued expenses 15,572 14,635 Net operating loss carrying forward 458,427 41,412 Less: valuation allowance (1,401,891 ) (786,627 ) Total deferred tax assets $ 468,680 $ - Deferred tax liabilities Timing difference on revenue recognition (1,055,711 ) - Recognition of intangible assets arising from business combination (1,148,545 ) - Deferred tax liabilities, net $ (1,735,576 ) $ -

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted loss per common share	For the Years Ended 2019 2018 2017 Net Income (Loss) Attributable to Roan Holding Group Co., Ltd.’s shareholders $ 23,526,400 $ (94,812,783 ) $ (55,469,673 ) Net Loss from continuing operations attributable to Roan Holdings Group Co., Ltd.’s shareholders $ (3,319,618 ) $ (4,076,418 ) $ (2,092,051 ) Net income (loss) from discontinued operations, net of income tax $ 26,846,018 $ (90,736,365 ) $ (53,377,622 ) Weighted average number of ordinary share outstanding Basic and Diluted* 25,287,887 24,380,051 17,343,763 Earnings per share Net loss per share from continuing operations - Basic and Diluted $ (0.13 ) $ (0.17 ) $ (0.12 ) Net earnings (loss) per share from discontinued operations - Basic and Diluted $ 1.06 $ (3.72 ) $ (3.08 )

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2019
Equity (Tables) [Line Items]
Schedule of restricted shares	Number of Weighted Granted and unvested as of December 31, 2017 $ 1,308 $ 7.90 Granted 370,525 0.85 Vested (370,683 ) 0.85 Forfeited (1,150 ) 7.90 Granted and unvested as of December 31, 2018 $ - $ - Granted and unvested as of December 31, 2019 $ - $ -
Schedule of warrants activity	Number of Weighted Expiration Balance of warrants outstanding as of December 31, 2017 9,280,323 3.52 years July 6, 2021 Grants of Series A Warrants 576,924 4 years July 9, 2022 Grants of Placement Agent Warrant 46,154 4 years July 9, 2022 Grants of Series B Warrants 390,579 0.08 years August 9, 2018 Exercise of Series B Warrants (390,579 ) Balance of warrants outstanding as of December 31, 2018 9,903,401 2.58 years * Balance of warrants outstanding as of December 31, 2019 9,903,401 1.58 years *
Series A Warrants [Member]
Equity (Tables) [Line Items]
Schedule of assumptions used to value stock options granted using a Black-Scholes model	On On On Terms of warrants 48 months 42 months 30 months Exercise price 2.60 2.60 1.18 Risk free rate of interest 2.77 % 2.77 % 1.56 % Dividend yield 0.00 % 0.00 % 0.00 % Annualized volatility of underlying stock 2.03 2.09 2.45
Series B Warrants [Member]
Equity (Tables) [Line Items]
Schedule of assumptions used to value stock options granted using a Black-Scholes model	On Terms of warrants 1 month Exercise price 0.001 Risk free rate of interest 1.88 % Dividend yield 0.00 % Annualized volatility of underlying stock 0.87

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Schedule of segment reporting	For the Year Ended Business conducted by Adrie and is subsidiaries Business conducted by Lixin Cayman and its subsidiaries Total Net revenues of services $ 452,733 $ 178,407 $ 631,140 Commission and fee income on guarantee services, net - 3,789 3,789 Total interest and fee income 2,784,052 98,776 2,882,828 Interest expenses (2,218,815 ) - (2,218,815 ) Provision for loan losses (2,244,601 ) - (2,244,601 ) Net (loss) income from operation $ (1,226,631 ) $ 280,972 $ (945,659 ) Depreciation $ (12,882 ) $ (2,302 ) $ (15,184 ) Capital expenditures $ (833 ) $ - $ (833 ) Income tax expense $ (185,762 ) $ (58,979 ) $ (244,741 ) Segment (loss) profit from continuing operations $ (2,729,212 ) $ 172,102 $ (2,557,110 ) Segment assets as of December 31, 2019 $ 3,113,525 $ 52,275,757 $ 55,389,282 For the Year Ended Business conducted by Adrie and is subsidiaries Business conducted by Lixin Cayman and its subsidiaries Total Net income from operation, before interest expenses $ (2,053,966 ) $ - $ (2,053,966 ) Interest expenses (25,118 ) - (25,118 ) Net fees income (loss) and revenues $ (2,079,084 ) $ - $ (2,079,084 ) Depreciation $ (15,897 ) $ - $ (15,897 ) Capital expenditures $ - $ - $ - Income tax expense $ (17,635 ) $ - $ (17,635 ) Segment loss from continuing operations $ (3,389,942 ) $ - $ (3,389,942 ) Segment assets as of December 31, 2018 $ 95,668,530 $ - $ 95,668,530

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of operating lease related assets and liabilities	December 31, Right of use assets $ 400,720 Operating lease liabilities, current portion $ 106,136 Operating lease liabilities, noncurrent portion 265,797 Total operating lease liabilities $ 371,933
Schedule of maturities of lease liabilities	Twelve months ended December 31, 2020 $ 107,397 Twelve months ended December 31, 2021 112,767 Twelve months ended December 31, 2022 118,405 Twelve months ended December 31, 2023 60,647 Total lease payments 399,216 Less: imputed interest (27,283 ) Present value of lease liabilities $ 371,933

Organization and Principal Ac_3

Organization and Principal Activities (Details)	1 Months Ended						12 Months Ended
	Apr. 30, 2020USD ($)	Apr. 30, 2020CNY (¥)	Dec. 20, 2019USD ($)shares	Dec. 20, 2019CNY (¥)shares	Jan. 31, 2019USD ($)	Jan. 31, 2019CNY (¥)	Dec. 31, 2019
Organization and Principal Activities (Details) [Line Items]
Equity interest percentage			65.0177%	65.0177%
Lixin Cayman [Member]
Organization and Principal Activities (Details) [Line Items]
Equity interest percentage					1.00%	1.00%
Business acquisition cash consideration					$ 427,318	¥ 2,858,600
Convertible Preferred Stock [Member]
Organization and Principal Activities (Details) [Line Items]
Issuance of shares			291,795,150	291,795,150
Lixin Cayman [Member]
Organization and Principal Activities (Details) [Line Items]
Share purchase agreement, description							On June 13, 2019 and August 23, 2019, the Company entered into a share purchase agreement (“SPA”) and a supplementary to the SPA with Lixin Cayman and certain shareholders of Lixin Cayman., pursuant to which the Company would acquire 65.0177% equity interests in Lixin Cayman and its subsidiaries at a consideration of approximately $39.38 million (RMB 276.00 million).
Issuance of consideration of preferred shares			$ 31,090,000	¥ 217,880,000
Feng Hui [Member]
Organization and Principal Activities (Details) [Line Items]
Agreement, description							On July 31, 2019 and November 22, 2019, the Company entered into a framework agreement (the “Agreement”) and a supplementary to the Agreement with Zhejiang Zhongfeng Investment Management Co., Ltd. (“Zhongfeng”, or the “Purchaser”), pursuant to which Zhongfeng will either acquire a 100% equity interest in Feng Hui, a variable interest entity of the Company, or enter into a series of agreements to become primary beneficiary of Feng Hui. Feng Hui primarily provides loan facilitation services to micro, small and medium sized enterprises in the Xinjiang Uygur Autonomous Region. On November 22, 2019, the disposition transaction was closed at a consideration of approximately $1.44 million (RMB 10 million) upon the Company received a deposit of $504,713 (RMB 3.5 million) and transferred control over Feng Hui to Zhongfeng. On April 30, 2020, the Company subsequently received additional $0.43 million (RMB 3.0 million) from Zhongfeng. Upon closing of the disposition on November 22, 2019, the Company released all equity interests to Feng Hui’s shareholders and those interests were transferred to Zhongfeng through Feng Hui’s shareholders. Zhongfeng assumed all assets and obligations of Feng Hui. Upon the closing of the transaction, the Company does not bear any contractual commitment or obligation to the microcredit business or the employees of Feng Hui, nor to the Purchaser. As of December 31, 2019, the Company was mainly engaged in management and assessment services for factoring business through Zeshi, loan business through Zhiyuan, the factoring company, and financial guarantee services, and financial consulting services through Lixin Cayman and its subsidiaries. The accompanying consolidated financial statements reflect the activities of the Company and its subsidiaries as follows: Name Background Ownership Adrie Global Holdings Limited (“Adrie”) ● A BVI company ● Incorporated on November 19, 2014 ● A holding company 100% owned by Roan China Roan Industrial-Financial Holdings Group Co., Limited (“Roan HK”) ● A Hong Kong company ● Incorporated on February 11, 2015 ● A holding company ● Formerly known as China Feng Hui Financial Holding Group Co., Limited 100% owned by Adrie Fortis Health Industrial Group Limited (“FHIG”) ● A Hong Kong company ● Incorporated on December 30, 2019 ● A holding company 100% owned by Adrie Xinjiang Feng Hui Jing Kai Direct Lending Limited (“Jing Kai) ● A PRC company and deemed a wholly foreign owned enterprise ● Incorporated on May 14, 2015 ● Registered capital of $18 million ● A holding company 100% owned by Roan HK Feng Hui Ding Xin (Beijing) Financial Consulting Co., Limited (“Ding Xin”) ● A PRC company and deemed a wholly foreign owned enterprise ● Incorporated on May 20, 2015 ● Registered capital of $1 million with registered capital fully paid-up ● Engaged in the business of financial consulting services 100% owned by Roan HK Ningbo Ding Tai Financial Leasing Co., Limited (“Ding Tai”) ● A PRC company and deemed a wholly foreign owned enterprise ● Incorporated on December 19, 2016 ● Registered capital of $30 million ● Planning for financial lease services 100% owned by Roan HK Xinjiang Xin Quan Financial Leasing Co., Limited (“Xin Quan”) ● A PRC company and deemed a wholly foreign owned enterprise ● Incorporated on January 24, 2017 ● Registered capital of $50 million ● Planning for financial lease services 60% owned by Roan HK Zhiyuan Commercial Factoring (Guangzhou) Co., Limited. (“Zhiyuan”) ● A PRC limited liability company ● Incorporated on November 19, 2018 ● Registered capital of $4,321,434 (RMB 30 million) ● Engaged in business factoring program, financing products design, related corporate financing solutions, investments and asset management 99% owned by Ding Xin Hangzhou Zeshi Investment Partnership (Limited Partnership) (“Zeshi”) ● A PRC limited liability partnership ● Incorporated on December 21, 2017 ● Acquired on November 29, 2019 ● Registered capital of $7,750,878 (RMB 51 million) ● Engaged in business factoring program, financing products design, related corporate financing solutions, investments and asset management 98.04% owned by Ding Tai and 1.96% owned by Ding Xin as of December 31, 2019. Ding Xin transferred the 1.96% equity interest to Nibo Zeshi Insurance Technology Co., Ltd. (“Zeshi Insurance”) Lixin Financial Holdings Group Limited (“Lixin Cayman”) ● A Cayman company ● Incorporated on October 25, 2017 ● A holding company 65.0177% owned by Roan Name Background Ownership Lixin Financial Holdings (BVI) Limited (“Lixin BVI”) ● A BVI company ● Incorporated on November 29, 2017 ● A holding company 100% owned by Lixin Cayman Lixin Financial Holdings Group Limited (“Lixin HK”) ● A Hong Kong company ● Incorporated on January 15, 2018 ● A holding company 100% owned by Lixin BVI Zhejiang Lixin Enterprise Management Group Go., Ltd. (“Zhejiang Lixin”) ● A PRC limited liability company ● Incorporated on July 3, 2015 ● Registered capital of $16,162,259 (RMB 101 million) with registered capital fully paid-up ● Engaged in financial guarantee services and related assessment and management services 99% owned by Lixin HK and 1% owned by Roan HK Zhejiang Jing Yu Xin Financing Guarantee Co., Ltd (“Zhejiang Jingyuxin”) ● A PRC limited liability company ● Incorporated on January 5, 2013 ● Registered capital of $48,517,261 (RMB 303 million) with registered capital fully paid-up ● Engaged in financial guarantee services and related assessment and management services 93.4% owned by Zhejiang Lixin Lixin (Hangzhou) Asset Management Co., Ltd. (“LAM”) ● A PRC limited liability company ● Incorporated on March 21, 2017 ● Registered capital of $4,358,565 (RMB 30 million) with $2,905,710 registered capital paid-up ● Engaged in provision of consulting and assessment services to customers and facilitates financial guarantee services between customers and guarantors 100% owned by Zhejiang Jingyuxin Lixin Supply Chain Management (Tianjin) Co., Ltd. (“Lixin Supply Chain”) ● A PRC limited liability company ● Incorporated on December 19, 2017 ● Registered capital of $1,513,226 (RMB 10 million) ● Planning for provision of supply chain management service 100% owned by LAM
Feng Hui [Member] | Subsequent Event [Member]
Organization and Principal Activities (Details) [Line Items]
Received additional from disposition transaction	$ 430,000	¥ 3,000,000

Organization and Principal Ac_4

Organization and Principal Activities (Details) - Schedule of the company and its subsidiaries	12 Months Ended
	Dec. 31, 2019
Adrie [Member]
Organization and Principal Activities (Details) - Schedule of the company and its subsidiaries [Line Items]
Name	Adrie Global Holdings Limited ("Adrie")
Background	A BVI company Incorporated on November 19, 2014 A holding company
Ownership	100% owned by Roan
Roan HK [Member]
Organization and Principal Activities (Details) - Schedule of the company and its subsidiaries [Line Items]
Name	China Roan Industrial-Financial Holdings Group Co., Limited ("Roan HK")
Background	A Hong Kong company Incorporated on February 11, 2015 A holding company Formerly known as China Feng Hui Financial Holding Group Co., Limited
Ownership	100% owned by Adrie
FHIG [Member]
Organization and Principal Activities (Details) - Schedule of the company and its subsidiaries [Line Items]
Name	Fortis Health Industrial Group Limited ("FHIG")
Background	A Hong Kong company Incorporated on December 30, 2019 A holding company
Ownership	100% owned by Adrie
Jing Kai [Member]
Organization and Principal Activities (Details) - Schedule of the company and its subsidiaries [Line Items]
Name	Xinjiang Feng Hui Jing Kai Direct Lending Limited ("Jing Kai)
Background	A PRC company and deemed a wholly foreign owned enterprise Incorporated on May 14, 2015 Registered capital of $18 million A holding company
Ownership	100% owned by Roan HK
Din Xin [Member]
Organization and Principal Activities (Details) - Schedule of the company and its subsidiaries [Line Items]
Name	Feng Hui Ding Xin (Beijing) Financial Consulting Co., Limited ("Ding Xin")
Background	A PRC company and deemed a wholly foreign owned enterprise Incorporated on May 20, 2015 Registered capital of $1 million with registered capital fully paid-up Engaged in the business of financial consulting services
Ownership	100% owned by Roan HK
Din Tai [Member]
Organization and Principal Activities (Details) - Schedule of the company and its subsidiaries [Line Items]
Name	Ningbo Ding Tai Financial Leasing Co., Limited ("Ding Tai")
Background	A PRC company and deemed a wholly foreign owned enterprise Incorporated on December 19, 2016 Registered capital of $30 million Planning for financial lease services
Ownership	100% owned by Roan HK
Xin Quan [Member]
Organization and Principal Activities (Details) - Schedule of the company and its subsidiaries [Line Items]
Name	Xinjiang Xin Quan Financial Leasing Co., Limited ("Xin Quan")
Background	A PRC company and deemed a wholly foreign owned enterprise Incorporated on January 24, 2017 Registered capital of $50 million Planning for financial lease services
Ownership	60% owned by Roan HK
Zhiyuan [Member]
Organization and Principal Activities (Details) - Schedule of the company and its subsidiaries [Line Items]
Name	Zhiyuan Commercial Factoring (Guangzhou) Co., Limited. ("Zhiyuan")
Background	A PRC limited liability company Incorporated on November 19, 2018 Registered capital of $4,321,434 (RMB 30 million) Engaged in business factoring program, financing products design, related corporate financing solutions, investments and asset management
Ownership	99% owned by Ding Xin
Zeshi [Member]
Organization and Principal Activities (Details) - Schedule of the company and its subsidiaries [Line Items]
Name	Hangzhou Zeshi Investment Partnership (Limited Partnership) ("Zeshi")
Background	A PRC limited liability partnership Incorporated on December 21, 2017 Acquired on November 29, 2019 Registered capital of $7,750,878 (RMB 51 million) Engaged in business factoring program, financing products design, related corporate financing solutions, investments and asset management
Ownership	98.04% owned by Ding Tai and 1.96% owned by Ding Xin as of December 31, 2019. Ding Xin transferred the 1.96% equity interest to Nibo Zeshi Insurance Technology Co., Ltd. ("Zeshi Insurance")
Lixin Cayman [Member]
Organization and Principal Activities (Details) - Schedule of the company and its subsidiaries [Line Items]
Name	Lixin Financial Holdings Group Limited ("Lixin Cayman")
Background	A Cayman company Incorporated on October 25, 2017 A holding company
Ownership	65.0177% owned by Roan
Lixin BVI [Member]
Organization and Principal Activities (Details) - Schedule of the company and its subsidiaries [Line Items]
Name	Lixin Financial Holdings (BVI) Limited ("Lixin BVI")
Background	A BVI company Incorporated on November 29, 2017 A holding company
Ownership	100% owned by Lixin Cayman
Lixin HK [Member]
Organization and Principal Activities (Details) - Schedule of the company and its subsidiaries [Line Items]
Name	Lixin Financial Holdings Group Limited ("Lixin HK")
Background	A Hong Kong company Incorporated on January 15, 2018 A holding company
Ownership	100% owned by Lixin BVI
Zhejiang Lixin [Member]
Organization and Principal Activities (Details) - Schedule of the company and its subsidiaries [Line Items]
Name	Zhejiang Lixin Enterprise Management Group Go., Ltd. ("Zhejiang Lixin")
Background	A PRC limited liability company Incorporated on July 3, 2015 Registered capital of $16,162,259 (RMB 101 million) with registered capital fully paid-up Engaged in financial guarantee services and related assessment and management services
Ownership	99% owned by Lixin HK and 1% owned by Roan HK
Zhejiang Jingyuxin [Member]
Organization and Principal Activities (Details) - Schedule of the company and its subsidiaries [Line Items]
Name	Zhejiang Jing Yu Xin Financing Guarantee Co., Ltd ("Zhejiang Jingyuxin")
Background	A PRC limited liability company Incorporated on January 5, 2013 Registered capital of $48,517,261 (RMB 303 million) with registered capital fully paid-up Engaged in financial guarantee services and related assessment and management services
Ownership	93.4% owned by Zhejiang Lixin
LAM [Member]
Organization and Principal Activities (Details) - Schedule of the company and its subsidiaries [Line Items]
Name	Lixin (Hangzhou) Asset Management Co., Ltd. ("LAM")
Background	A PRC limited liability company Incorporated on March 21, 2017 Registered capital of $4,358,565 (RMB 30 million) with $2,905,710 registered capital paid-up Engaged in provision of consulting and assessment services to customers and facilitates financial guarantee services between customers and guarantors
Ownership	100% owned by Zhejiang Jingyuxin
Lixin Supply Chain [Member]
Organization and Principal Activities (Details) - Schedule of the company and its subsidiaries [Line Items]
Name	Lixin Supply Chain Management (Tianjin) Co., Ltd. ("Lixin Supply Chain")
Background	A PRC limited liability company Incorporated on December 19, 2017 Registered capital of $1,513,226 (RMB 10 million) Planning for provision of supply chain management service
Ownership	100% owned by LAM

Liquidity (Details)

Liquidity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Liquidity [Abstract]
Net loss from continuing operations	$ (2,557,110)	$ (3,389,942)	$ (1,405,651)
Operating activities from continuing operations	(1,074,579)	(1,564,728)	$ (1,320,951)
Cash balance	6,911,592	1,301,124
Working capital	39,449,021
Restricted cash in banks	15,233,933
Short-term investments	8,610,796
Loans receivable from third parties	5,952,223
Operating expenses	1,850,000
Financial guarantee and consulting services	$ 7,790,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2019HKD ($)	Dec. 20, 2019
Summary of Significant Accounting Policies (Details) [Line Items]
Aggregated fair value warrants	$ 19,938	$ 550,800
Federal depository insurance coverage, value	250,000			$ 500,000
Doubtful accounts receivable	4,870,838	2,680,077
Acquired percentage					65.0177%
Financial guarantee services amounted	453,489
Provisions for financial guarantee services	5,008
Total expenses of employee benefits	$ 31,012	33,999	$ 88,519
Value added tax rate	6.00%
Income tax benefits, percentage	50.00%			50.00%
Guarantee fee commission percentage	50.00%
Related interests of guaranteed value	$ 35,100,000
Fair market value of collateral value	61,400,000
Cash	6,911,592
Restricted cash	$ 15,233,933
Minimum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Cash deposit of percentage	10.00%
Maximum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Cash deposit of percentage	20.00%
Allowance for doubtful accounts [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Doubtful accounts receivable	$ 405,802

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of foreign currency translation and transactions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of foreign currency translation and transactions [Abstract]
Balance sheet items, except for equity accounts	6.968%	6.8776%
Items in the statements of operations and comprehensive income (loss), and statements of cash flows	6.9088%	6.6163%	6.7588%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of property and equipment estimated useful lives	12 Months Ended
	Dec. 31, 2019
Electric Generation Equipment [Member]
Summary of Significant Accounting Policies (Details) - Schedule of property and equipment estimated useful lives [Line Items]
Property and equipment, estimated useful lives	3 years
Office Equipment [Member]
Summary of Significant Accounting Policies (Details) - Schedule of property and equipment estimated useful lives [Line Items]
Property and equipment, estimated useful lives	5 years
Leasehold Improvements [Member]
Summary of Significant Accounting Policies (Details) - Schedule of property and equipment estimated useful lives [Line Items]
Property and equipment, estimated useful lives	5 years
Building [Member]
Summary of Significant Accounting Policies (Details) - Schedule of property and equipment estimated useful lives [Line Items]
Property and equipment, estimated useful lives	20 years
Minimum [Member] | Vehicles [Member]
Summary of Significant Accounting Policies (Details) - Schedule of property and equipment estimated useful lives [Line Items]
Property and equipment, estimated useful lives	3 years
Maximum [Member] | Vehicles [Member]
Summary of Significant Accounting Policies (Details) - Schedule of property and equipment estimated useful lives [Line Items]
Property and equipment, estimated useful lives	4 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details) - Schedule of intangible assets estimated useful lives using the straight-line method	12 Months Ended
	Dec. 31, 2019
Customer relationship [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives	3 years
License [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives	10 years
Non-Compete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives	4 years
Credit rating system [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives	10 years
Minimum [Member] | Software and others [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives	5 years
Maximum [Member] | Software and others [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives	10 years

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details) - Schedule of financial guarantee services - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Schedule of financial guarantee services [Abstract]
Guarantee	$ 35,103,876

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Details) - Schedule of management consulting services - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of management consulting services [Abstract]
Management and assessment services	$ 135,938	$ 71,568
Consulting services for financial guarantee customers	9,503
Consulting services relating to debt collection	493,779
Total	$ 639,220	$ 71,568

Acquisition of Lixin Cayman (De

Acquisition of Lixin Cayman (Details)	1 Months Ended		12 Months Ended
	Jan. 31, 2019USD ($)	Jan. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 20, 2019	Dec. 31, 2018USD ($)
Acquisition of Lixin Cayman (Details) [Line Items]
Equity interest				65.0177%
Business Combination, Bargain Purchase, Gain Recognized, Description				Under the terms of the purchase agreement, the consideration was $39.38 million (RMB 276.00 million). As per an independent valuation report issued by a professional valuation firm dated on December 20, 2019, the fair value of 65.0177% equity interest in Lixin Cayman and its subsidiaries was $31.09 million (RMB 217.88 million). The consideration was paid by Class B convertible preferred share which was equivalent to $31.09 million (RMB 217.88 million) and at $0.1065 per Class B convertible preferred share. On December 20, 2019, the Company issued 291,795,150 shares of Class B convertible preferred shares.
Operating income			$ 280,972		$ 192,483
Lixin [Member]
Acquisition of Lixin Cayman (Details) [Line Items]
Equity interest	1.00%	1.00%
Business Combination, Consideration Transferred	$ 427,318	¥ 2,858,600
Equity interest				65.0177%
RMB [Member]
Acquisition of Lixin Cayman (Details) [Line Items]
Foreign currency exchange rate, translation			7.0086

Acquisition of Lixin Cayman (_2

Acquisition of Lixin Cayman (Details) - Schedule of estimated fair values for major classes of assets acquired and liabilities	Dec. 20, 2019USD ($)
Schedule of estimated fair values for major classes of assets acquired and liabilities [Abstract]
Net tangible assets	$ 44,762,922	[1]
Customer relationship	156,950	[2]
License	1,983,277	[3]
Non-Compete Agreements	2,454,127	[4]
Deferred tax liabilities recognized	(1,148,589)
Other intangible assets	243,072	[5]
Less: Noncontrolling interests	(16,936,604)
Total purchase consideration	$ 31,515,155
[1]	The following is a reconciliation of the fair value of major classes of assets acquired and liabilities assumed which comprised of net tangible assets on December 20, 2019.
[2]	Lixin has provided financial services to over 300 clients in the past four years, which will enable the Company to benefit from these customer in future operations and with an estimated average finite useful life of three years.
[3]	Lixin has obtained the Financing Guarantee Agency Business License which permits the Company to engage in financing guarantee business, non-financial guarantee business and consulting intermediary business related to guarantee business. The estimated useful life of the license is 10 years.
[4]	Pursuant to purchase agreement between the Company and Lixin, Lixin's management and key employees were limited to be engaged in similar business to compete with the Company during the performance commitment period and within six-months to two years after leaving.
[5]	Approximately $0.24 million of other intangible assets arising from the acquisition was mainly for the assembled workforce.

Acquisition of Lixin Cayman (_3

Acquisition of Lixin Cayman (Details) - Schedule of carrying amounts of major classes of acquired assets	Dec. 20, 2019USD ($)
Carrying amounts of major classes of acquired assets
Cash, cash equivalents and restricted cash	$ 21,442,122
Short-term investments	8,560,911
Accounts receivable, net	3,252,159
Loan receivable due from third parties	5,917,714
Pledged deposits	5,564,592
Other assets	2,537,990
Total assets	47,275,488
Less: total liabilities	(2,512,566)
Net tangible assets	$ 44,762,922

Acquisition of Lixin Cayman (_4

Acquisition of Lixin Cayman (Details) - Schedule of pro forma financial information includes various assumptions - USD ($)		12 Months Ended
		Dec. 31, 2019		Dec. 31, 2018		Dec. 31, 2017
Roan [Member]
Acquisition of Lixin Cayman (Details) - Schedule of pro forma financial information includes various assumptions [Line Items]
Net revenues from services		$ 631,140		$ 71,568
Net interest loss after provision for loan losses		(1,580,588)		(2,150,652)		1,063,875
Commission and fee income on guarantee services, net		3,789
Operating (Loss) Income		(945,659)		(2,079,084)		1,063,875
Non-interest income, net
Total Non-interest Expenses						(2,219,281)
Other income, net
Total Operating Expenses		(1,366,710)		(1,293,223)
(Loss) Income Before Income Taxes		(2,312,369)		(3,372,307)		(1,155,406)
Income tax expenses		(244,741)		(17,635)		(250,245)
Net (Loss) Income from continuing operations		(2,557,110)		(3,389,942)		(1,405,651)
Net income from discontinued operations, net of income tax		26,846,018		(90,736,365)		(53,377,622)
Net Income		24,288,908		(94,126,307)		(54,783,273)
Dividend – Convertible Redeemable Class A preferred stock		(686,400)		(686,400)		(686,400)
Net income attributable to noncontrolling interests		(76,108)		(76)
Net Income Attributable to Roan Holding Group Co., Ltd.’s shareholders		$ 23,526,400		$ (94,812,783)		$ (55,469,673)
Weighted average number of ordinary share outstanding
Basic (in Shares)		25,287,887		24,380,051		17,343,763
Diluted (in Shares)		25,287,887		24,380,051		17,343,763
Earnings per share
Basic (in Dollars per share)		$ 0.93		$ (3.89)		$ (3.20)
Diluted (in Dollars per share)		$ 0.93		$ (3.89)		$ (3.20)
Lixin Cayman and its subsidiaries [Member]
Acquisition of Lixin Cayman (Details) - Schedule of pro forma financial information includes various assumptions [Line Items]
Net revenues from services		$ 2,591,381	[1]	$ 2,269,754	[2]	$ 1,376,661	[3]
Net interest loss after provision for loan losses		1,075,726	[1]	498,219	[2]	812,181	[3]
Commission and fee income on guarantee services, net		1,829,566	[1]	3,051,078	[2]	6,914,962	[3]
Operating (Loss) Income		5,496,673	[1]	5,819,051	[2]	9,103,804	[3]
Non-interest income, net	[3]					10,028
Total Non-interest Expenses	[3]					(4,049,428)
Other income, net		195,519	[1]	334,910	[2]
Total Operating Expenses		(2,087,917)	[1]	(3,889,261)	[2]
(Loss) Income Before Income Taxes		3,604,275	[1]	2,264,700	[2]	5,064,404	[3]
Income tax expenses		(936,982)	[1]	(565,505)	[2]	(1,296,063)	[3]
Net (Loss) Income from continuing operations		2,667,293	[1]	1,699,195	[2]	3,768,341	[3]
Net income from discontinued operations, net of income tax			[1]		[2]		[3]
Net Income		2,667,293	[1]	1,699,195	[2]	3,768,341	[3]
Dividend – Convertible Redeemable Class A preferred stock			[1]		[2]		[3]
Net income attributable to noncontrolling interests		(90,928)	[1]	(127,514)	[2]	(248,730)	[3]
Net Income Attributable to Roan Holding Group Co., Ltd.’s shareholders		$ 2,576,365	[1]	$ 1,571,681	[2]	$ 3,519,611	[3]
Weighted average number of ordinary share outstanding
Basic (in Shares)			[1]		[2]		[3]
Diluted (in Shares)			[1]		[2]		[3]
Pro Forma Adjustment [Member]
Acquisition of Lixin Cayman (Details) - Schedule of pro forma financial information includes various assumptions [Line Items]
Net revenues from services			[4]		[5]		[6]
Net interest loss after provision for loan losses		50,681	[4]		[5]		[6]
Commission and fee income on guarantee services, net		(45,192)	[4]		[5]		[6]
Operating (Loss) Income		5,489	[4]		[5]		[6]
Non-interest income, net	[6]
Total Non-interest Expenses	[6]					(896,116)
Other income, net			[4]		[5]
Total Operating Expenses		(855,729)	[4]	(915,416)	[5]
(Loss) Income Before Income Taxes		(850,240)	[4]	(915,416)	[5]	(896,116)	[6]
Income tax expenses		212,560	[4]	228,854	[5]	224,029	[6]
Net (Loss) Income from continuing operations		(637,680)	[4]	(686,562)	[5]	(672,087)	[6]
Net income from discontinued operations, net of income tax			[4]		[5]		[6]
Net Income		(637,680)	[4]	(686,562)	[5]	(672,087)	[6]
Dividend – Convertible Redeemable Class A preferred stock			[4]		[5]		[6]
Net income attributable to noncontrolling interests			[4]		[5]		[6]
Net Income Attributable to Roan Holding Group Co., Ltd.’s shareholders		$ (637,680)	[4]	$ (686,562)	[5]	$ (672,087)	[6]
Weighted average number of ordinary share outstanding
Basic (in Shares)			[4]		[5]		[6]
Diluted (in Shares)			[4]		[5]		[6]
Pro Forma Financial Data [Member]
Acquisition of Lixin Cayman (Details) - Schedule of pro forma financial information includes various assumptions [Line Items]
Net revenues from services		$ 3,222,521		$ 2,341,322		$ 1,376,661
Net interest loss after provision for loan losses		(454,181)		(1,652,433)		1,876,056
Commission and fee income on guarantee services, net		1,788,163		3,051,078		6,914,962
Operating (Loss) Income		4,556,503		3,739,967		10,167,679
Non-interest income, net						10,028
Total Non-interest Expenses						(7,164,825)
Other income, net		195,519		334,910
Total Operating Expenses		(4,310,356)		(6,097,900)
(Loss) Income Before Income Taxes		441,666		(2,023,023)		3,012,882
Income tax expenses		(969,163)		(354,286)		(1,322,279)
Net (Loss) Income from continuing operations		(527,497)		(2,377,309)		1,690,603
Net income from discontinued operations, net of income tax		26,846,018		(90,736,365)		(53,377,622)
Net Income		26,318,521		(93,113,674)		(51,687,019)
Dividend – Convertible Redeemable Class A preferred stock		(686,400)		(686,400)		(686,400)
Net income attributable to noncontrolling interests		(167,036)		(127,590)		(248,730)
Net Income Attributable to Roan Holding Group Co., Ltd.’s shareholders		$ 25,465,085		$ (93,927,664)		$ (52,622,149)
Weighted average number of ordinary share outstanding
Basic (in Shares)		25,287,887		24,380,051		17,343,763
Diluted (in Shares)		25,287,887		24,380,051		17,343,763
Earnings per share
Basic (in Dollars per share)		$ 1.01		$ (3.85)		$ (3.03)
Diluted (in Dollars per share)		$ 1.01		$ (3.85)		$ (3.03)
[1]	The consolidated statements of income of Lixin was for the period from January 1, 2019 to December 20, 2019.
[2]	The consolidated statements of income of Lixin was for the period from January 1, 2018 to December 31, 2018.
[3]	The consolidated statements of income of Lixin was for the period from January 1, 2017 to December 31, 2017.
[4]	The proforma adjustment represents the transaction elimination between Roan and Lixin, amortization of intangible assets arising from the acquisition of $850,240, and deferred income tax benefits of $212,560 in relation to amortization of intangible assets arising from the acquisition.
[5]	The proforma adjustment represents the amortization of intangible assets arising from the acquisition of $915,416, and deferred income tax benefits of $228,854 in relation to amortization of intangible assets arising from the acquisition.
[6]	The proforma adjustment represents the amortization of intangible assets arising from the acquisition of $896,116, and deferred income tax benefits of $224,029 in relation to amortization of intangible assets arising from the acquisition.

Disposition of Feng Hui (Detail

Disposition of Feng Hui (Details) ¥ in Millions	1 Months Ended
	Apr. 30, 2020USD ($)	Apr. 30, 2020CNY (¥)	Nov. 22, 2019USD ($)	Jul. 31, 2019	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Disposition of Feng Hui (Details) [Line Items]
Assets held for sale			$ 1,590,000
Doubtful allowance			1,560,000		$ 4,870,838	$ 2,680,077	$ 619,910	$ 30,814
Liabilities held for sale			57,600,000
Comprised of loans			36,220,000
Other current liabilities			20,610,000
Net gain from disposal of discontinued operation			54,750,000
Other Operating Income (Expense), Net			$ 54,750,000
Zhejiang Zhongfeng [Member]
Disposition of Feng Hui (Details) [Line Items]
Equity ownership, percentage				100.00%
Description of related party				The consideration was approximately $1.44 million (RMB 10 million), and the Company received $504,713 (RMB 3.5 million) for the year ended December 31, 2019. As of December 31, 2019, the Company had an outstanding receivable of $932,836 (RMB 6.5 million) due from Zhejiang Zhongfeng.
Feng Hui [Member] | Subsequent Event [Member]
Disposition of Feng Hui (Details) [Line Items]
Received additional from disposition transaction	$ 430,000	¥ 3

Disposition of Feng Hui (Deta_2

Disposition of Feng Hui (Details) - Schedule of operations and comprehensive income (loss) - Fair Value [Member]	12 Months Ended
	Dec. 31, 2019USD ($)
Disposition of Feng Hui (Details) - Schedule of operations and comprehensive income (loss) [Line Items]
Consideration in exchange for the disposal	$ 1,435,132
Less: Net liabilities (comprised of assets of $1,593,879 and liabilities of $57,601,524)	(56,007,645)
Gains from disposal	57,442,777
Other comprehensive loss	(2,691,969)
Net gain from discontinued operations	$ 54,750,808

Disposition of Feng Hui (Deta_3

Disposition of Feng Hui (Details) - Schedule of operations and comprehensive income (loss) (Parentheticals) - Fair Value [Member]	Dec. 31, 2019USD ($)
Disposition of Feng Hui (Details) - Schedule of operations and comprehensive income (loss) (Parentheticals) [Line Items]
Assets held for sale	$ 1,593,879
Liabilities held for sale	$ 57,601,524

Disposition of Feng Hui (Deta_4

Disposition of Feng Hui (Details) - Schedule of reconciliation of assets and liabilities held for sale consolidated balance sheet - USD ($)	Dec. 31, 2019	Nov. 22, 2019	Dec. 31, 2018
Carrying amounts of major classes of assets held for sale:
Cash		$ 12,397	$ 10,625
Loan receivable, net	$ 932,836	1,557,568	25,623,079
Other assets		23,914	890,682
Total assets of disposal group classified as held for sale		1,593,879	26,524,386
Carrying amounts of major classes of liabilities held for sale:
Loans		36,221,099	40,346,674
Other current liabilities		20,611,079	14,851,106
Income tax payable		769,346	786,685
Liabilities directly associated with the assets classified as held for sale		$ 57,601,524	$ 55,984,465

Disposition of Feng Hui (Deta_5

Disposition of Feng Hui (Details) - Schedule of reconciliation of income from operations classified as discontinued operations - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Discontinued Operations
Total interest and fees income	$ 3,514	$ 141,921	$ 14,897,253
Total interest expenses	(6,314,400)	(6,870,408)	(7,367,549)
Provision for loan losses	(24,702,109)	(83,539,532)	(54,734,562)
Other operating expenses	3,108,205	(468,346)	(3,668,260)
Income tax expenses			(2,504,504)
Net gain from discontinued operations	54,750,808
Net income (loss) from discontinued operations	$ 26,846,018	$ (90,736,365)	$ (53,377,622)

Restricted Cash (Details)

Restricted Cash (Details)	12 Months Ended
	Dec. 31, 2019
Restricted Cash (Details) [Line Items]
Percentage of cash deposit	50.00%
Expiration period	12 months
Minimum [Member]
Restricted Cash (Details) [Line Items]
Percentage of cash deposit	10.00%
Maximum [Member]
Restricted Cash (Details) [Line Items]
Percentage of cash deposit	20.00%

Short-Term Investment (Details)

Short-Term Investment (Details) - Schedule of amortized cost and fair value	Dec. 31, 2019USD ($)
Amortized cost [Member]
Short-term investments
Due within six months	$ 8,610,796
Total	8,610,796
Fair value [Member]
Short-term investments
Due within six months	8,610,796
Total	$ 8,610,796

Accounts Receivable, Net (Detai

Accounts Receivable, Net (Details) - Schedule of accounts receivable - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Schedule of accounts receivable [Abstract]
Accounts receivable	$ 4,132,819
Less: allowance for doubtful accounts	(405,802)
Accounts receivable, net	$ 3,727,017

Accounts Receivable, Net (Det_2

Accounts Receivable, Net (Details) - Schedule of movement of allowance for doubtful accounts - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Schedule of movement of allowance for doubtful accounts [Abstract]
Balance at beginning of the year
Acquired from Lixin	403,451
Provisions
Foreign exchange (gain) loss	2,351
Balance at ending of the year	$ 405,802

Loans Receivable Due From Fac_3

Loans Receivable Due From Factoring Customers (Details)	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Receivables [Abstract]
Disbursed loans	$ 43,422,881	$ 67,258,135
Number of customers	4	1
Interest income from loans	$ 2,782,332	$ 35,229

Loans Receivable Due From Fac_4

Loans Receivable Due From Factoring Customers (Details) - Schedule of loans receivable - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Schedule of loans receivable [Abstract]
Loans receivable		$ 64,702,803
Less: allowance for doubtful accounts
Loans receivable total		$ 64,702,803

Loans Due From Third Parties (D

Loans Due From Third Parties (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Nov. 22, 2019
Loans Due From Third Parties (Details) [Line Items]
Comprised loans				$ 36,220,000
Interest receivable	$ 1,111,322
Net provision	$ 2,244,601	$ 2,176,216	$ 565,187
Debt Instrument, description	The Company determines a loan’s past due status by the number of days that have elapsed since a borrower has failed to make a contractual loan payment. Accrual of interest is generally discontinued when either (i) reasonable doubt exists as to the full, timely collection of interest or principal or (ii) when a loan becomes past due by more than 90 days.
Description of loan balance	As of December 31, 2019, loan balance of $71,757 aged between 180 ~ 365 days, and balance of $4,799,081 aged over one year.
Third Parties [Member]
Loans Due From Third Parties (Details) [Line Items]
Comprised loans	$ 3,157,292
Loan due date	Sep. 24, 2020
Loan interest rate	8.00%
Two Third Parties [Member]
Loans Due From Third Parties (Details) [Line Items]
Comprised loans	$ 2,776,982
One Third Party [Member]
Loans Due From Third Parties (Details) [Line Items]
Non-interest bearing loan	$ 17,949

Loans Due From Third Parties _2

Loans Due From Third Parties (Details) - Schedule of loans due from third parties - USD ($)		Dec. 31, 2019	Dec. 31, 2018
Schedule of loans due from third parties [Abstract]
Loans due from third parties	[1]	$ 5,952,223
Loans from direct loan customers	[2]	4,870,838	4,934,861
Less: allowance for doubtful accounts		(4,870,838)	(2,680,077)
Total		$ 5,952,223	$ 2,254,784
[1]	As of December 31, 2019, the balance of loans due from third parties was mainly comprised of loans of $3,157,292 and $2,776,982 due from two third parties, and a non-interest bearing loan of $17,949 due from one third party. The two loans are due on December 31, 2020 and September 24, 2020, respectively. Both loans were fully pledged with the customer's outstanding trade receivable and charges an interest rate of 8% from customers.
[2]	All loans from direct loan customers are short-term loans that the Company has made to both business and individual customers. As of December 31, 2019 and 2018, the Company had four business loan customers, and two personal loan customers, respectively. All loans are guaranteed by third parties. Allowance for doubtful accounts is estimated on a quarterly basis based on an assessment of specific evidence indicating doubtful collection, historical experience, loan balance aging and prevailing economic conditions.

Loans Due From Third Parties _3

Loans Due From Third Parties (Details) - Schedule of allowance for doubtful accounts - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of allowance for doubtful accounts [Abstract]
Balance at beginning of the year	$ 2,680,077	$ 619,910	$ 30,814
Provisions	2,244,601	2,176,216	565,187
Reversals		(57,434)
Foreign exchange (gain) loss	(53,840)	(116,049)	23,909
Balance at end of the year	$ 4,870,838	$ 2,680,077	$ 619,910

Other current assets (Details)

Other current assets (Details) - Schedule of other current assets - USD ($)	Dec. 31, 2019	Nov. 22, 2019	Dec. 31, 2018
Schedule of other current assets [Abstract]
Interest receivable	$ 1,111,322		$ 34,908
Receivable from disposal of discontinued operations	932,836	$ 1,557,568	25,623,079
Advances to customers	50,716
Stamp duties due from former shareholders of Zhejiang Jingyuxin	34,587
Prepaid legal and consulting expenses			407,890
Prepaid insurance expenses			154,582
Others	176,181		216,029
Other current assets	$ 2,305,642		$ 813,409

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Depreciation expenses	$ 15,184	$ 15,897	$ 7,134

Property and Equipment, Net (_2

Property and Equipment, Net (Details) - Schedule of property and equipment, net - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 852,525	$ 27,980
Less: Accumulated depreciation	(461,190)	(26,981)
Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, net	136,983	11,265
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, net	253,108	29,080
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, net	36,919	14,616
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, net	46,464
Building [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 840,241

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 33,138	$ 6,225	$ 6,094

Intangible Assets, Net (Detai_2

Intangible Assets, Net (Details) - Schedule of intangible assets net - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Intangible Assets, Net (Details) - Schedule of intangible assets net [Line Items]
Less: Accumulated amortization	$ (48,496)	$ (15,845)
Intangible assets, net	4,876,228	44,044
Credit rating system [Member]
Intangible Assets, Net (Details) - Schedule of intangible assets net [Line Items]
Intangible assets, gross	54,156	54,868
Software [Member]
Intangible Assets, Net (Details) - Schedule of intangible assets net [Line Items]
Intangible assets, gross	4,955	5,021
Customer relationship [Member]
Intangible Assets, Net (Details) - Schedule of intangible assets net [Line Items]
Intangible assets, gross	157,865
License [Member]
Intangible Assets, Net (Details) - Schedule of intangible assets net [Line Items]
Intangible assets, gross	1,994,834
Non-Compete Agreements [Member]
Intangible Assets, Net (Details) - Schedule of intangible assets net [Line Items]
Intangible assets, gross	2,468,427
Other intangible assets [Member]
Intangible Assets, Net (Details) - Schedule of intangible assets net [Line Items]
Intangible assets, gross	$ 244,487

Intangible Assets, Net (Detai_3

Intangible Assets, Net (Details) - Schedule of amortization expenses - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Schedule of amortization expenses [Abstract]
2020	$ 924,020
2021	924,020
2022	924,020
2023	871,399
2024	871,399
Thereafter	361,370
Amortization expenses, Total	$ 4,876,228	$ 44,044

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - Schedule accrued expenses and other current liabilities - USD ($)		Dec. 31, 2019	Dec. 31, 2018
Schedule accrued expenses and other current liabilities [Abstract]
Accrued payroll		$ 312,044	$ 133,448
Accrued rental fee		49,395
Accrued professional service fee		83,110	140,504
Dividends due to former shareholders of Zhejiang Jingyuxin	[1]	170,781
Interest payable			24,164
Other current liabilities		95,535
Accrued expenses and other current liabilities, Net		$ 710,865	$ 298,116
[1]	The balance represented the unpaid dividends due to former shareholders of Lixin, who sold equity interests in Lixin to the Company.

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Taxes (Details) [Line Items]
Income tax, description	The applicable tax rate for the first HKD$2 million of assessable profits is 8.25% and assessable profits above HKD$2 million will continue to be subject to the rate of 16.5% for corporations in Hong Kong, effective from the year of assessment 2018/2019. Before that, the applicable tax rate was 16.5% for corporations in Hong Kong.
Effective income tax rate	(8.20%)	(7.30%)
Operating Loss Carryforwards	$ 1,846,032	$ 210,152
Accrued valuation allowance	$ 1,401,891	$ 786,627
PRC [Member]
Income Taxes (Details) [Line Items]
Effective income tax rate	25.00%

Income Taxes (Details) - Schedu

Income Taxes (Details) - Schedule of income tax expense - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of income tax expense [Abstract]
Current income tax expenses	$ 187,067	$ 17,635	$ 238,106
Deferred income tax expenses	57,674		12,139
Income tax expenses	$ 244,741	$ 17,635	$ 250,245

Income Taxes (Details) - Sche_2

Income Taxes (Details) - Schedule of effective income tax rate and PRC statutory income tax	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of effective income tax rate and PRC statutory income tax [Abstract]
PRC statutory income tax rate	25.00%	25.00%	25.00%
Effect of different income tax rate in other jurisdictions	(8.20%)	(7.30%)
Effect of non-deductible expenses	(0.10%)	(0.10%)	(0.30%)
Effect of valuation of deferred tax allowance	(27.30%)	(18.20%)	(46.30%)
Effective tax rate	(10.60%)	(0.60%)	(21.60%)

Income Taxes (Details) - Sche_3

Income Taxes (Details) - Schedule of deferred tax assets and liabilities - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets
Accrued interest receivable	$ 59,489	$ 60,561
Allowance for doubtful loan receivables	1,217,710	670,019
Allowance on doubtful accounts	119,373
Accrued expenses	15,572	14,635
Net operating loss carrying forward	458,427	41,412
Less: valuation allowance	(1,401,891)	(786,627)
Deferred tax assets, net	468,680
Deferred tax liabilities
Timing difference on revenue recognition	(1,055,711)
Recognition of intangible assets arising from business combination	(1,148,545)
Deferred tax liabilities, net	$ (1,735,576)

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - Schedule of computation of basic and diluted loss per common share - Earnings per share [Member] - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings (Loss) Per Share (Details) - Schedule of computation of basic and diluted loss per common share [Line Items]
Net Income (Loss) Attributable to Roan Holding Group Co., Ltd.’s shareholders	$ 23,526,400	$ (94,812,783)	$ (55,469,673)
Net Loss from continuing operations attributable to Roan Holdings Group Co., Ltd.’s shareholders	(3,319,618)	(4,076,418)	(2,092,051)
Net income (loss) from discontinued operations, net of income tax	$ 26,846,018	$ (90,736,365)	$ (53,377,622)
Basic and Diluted (in Shares)	25,287,887	24,380,051	17,343,763
Earnings per share
Net loss per share from continuing operations - Basic and Diluted (in Dollars per share)	$ (0.13)	$ (0.17)	$ (0.12)
Net earnings (loss) per share from discontinued operations - Basic and Diluted (in Dollars per share)	$ 1.06	$ (3.72)	$ (3.08)

Related Party Transactions an_2

Related Party Transactions and Balances (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Related Party Transactions and Balances (Details) [Line Items]
Maturity date, description	The lease agreement was a three-year agreement to be matured in April 2020, with a monthly rental fee of $8,805.
Monthly rental fee	$ 8,805
Rental expenses	2,935
borrowed from related party	279,020
Due from related parties	2,906
Due to related parties	$ 280,714
Lixin Cayman [Member]
Related Party Transactions and Balances (Details) [Line Items]
Shareholder's percentage	4.7703%

Redeemable Convertible Prefer_2

Redeemable Convertible Preferred Shares (Details)	1 Months Ended	12 Months Ended
	Jul. 06, 2016USD ($)$ / sharesshares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)shares	Dec. 31, 2017USD ($)	Dec. 31, 2019CNY (¥)shares	Dec. 20, 2019shares
Redeemable Convertible Preferred Shares (Details) [Line Items]
Gross proceeds private placement			$ 500,000
Dividend - convertible redeemable preferred stock		$ 686,400	$ 686,400	$ 686,400
Preferred Stock, Liquidation Preference, Value (in Yuan Renminbi) | ¥					¥ 276,000,000
Liquidation premium, percentage		8.00%			8.00%
Preferred Class A [Member]
Redeemable Convertible Preferred Shares (Details) [Line Items]
Preferred shares issued (in Shares) | shares	715,000	715,000	715,000		715,000
Preferred shares, par value (in Dollars per share) | $ / shares	$ 12
Annual dividend percentage	8.00%
Gross proceeds private placement	$ 8,580,000
Redeemable price (in Dollars per share) | $ / shares	$ 12
Shares issued for conversion, percentage	80.00%
Dividend - convertible redeemable preferred stock		$ 686,400	$ 686,400
Outstanding preferred value		$ 10,338,927	$ 9,652,527
Preferred Class B [Member]
Redeemable Convertible Preferred Shares (Details) [Line Items]
Preferred shares issued (in Shares) | shares		291,795,150			291,795,150	291,795,150
Outstanding preferred value		$ 31,087,732			¥ 217,881,478
Lixin Cayman [Member] | Preferred Class A [Member]
Redeemable Convertible Preferred Shares (Details) [Line Items]
Equity interest						65.0177%

Equity (Details)

Equity (Details) - USD ($)	Aug. 09, 2018	Jul. 10, 2018	Jul. 06, 2018	Apr. 04, 2018	Sep. 18, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 20, 2019	Jul. 06, 2016
Equity (Details) [Line Items]
Ordinary shares outstanding						25,287,851	25,288,003
Ordinary shares issued						25,287,851	25,288,003
Restricted shares forfeited				1,150
Warrants outstanding						9,903,401	9,903,401
Estimated fair value (in Dollars)						$ (530,863)	$ (748,346)
Ordinary shares description						Unlimited shares authorized	Unlimited shares authorized
Percentage of ordinary shares						6.00%
Direct and incremental issuance costs (in Dollars)		$ 310,000
Statutory reserve, description						The Company is required to set aside at least 10% of their after-tax profits each year, if any, to fund certain statutory reserve funds until such reserve funds reach 50% of its registered capital.
Statutory reserve (in Dollars)						$ 658,662	$ 6,621,063
Series A Warrants [Member]
Equity (Details) [Line Items]
Sale of stock, description		In connection with the private placement closed on July 10, 2018, the Company issued Series A warrants to investors to purchase a total of 576,924 ordinary shares with a warrant term of four (4) years. The Series A Warrants have an exercise price of $2.60 per share. On January 9, 2019, the Board of the Company approved an downward adjustment of exercise price from $2.6 to $1.18.
Convertible common stock price per share (in Dollars per share)		$ 2.60
Estimated fair value (in Dollars)		$ 1,202,310				$ 18,462	510,000
Series B Warrants [Member]
Equity (Details) [Line Items]
Sale of stock, description						In connection with the private placement closed on July 10, 2018, the investors also received Series B warrants with an initial face amount of 200,000 ordinary shares, which are subject to adjustment not in excess of an aggregate of 462,843 ordinary shares (the “Series B Warrants”) for nominal consideration. If on the 30th day after the closing date of the transaction (the “Adjustment Date”), the closing bid price of the Company’s ordinary shares is less than $2.60, the investors shall have the right to exercise the Series B Warrants and the number of ordinary shares to be issued to the investors upon exercise of the Series B Warrants shall be adjusted (upward or downward, as necessary) based on the closing bid price of the Company’s ordinary shares on such date.
Estimated fair value (in Dollars)		504,499
Warrant, description	the closing bid price of the Company’s ordinary shares was $1.29, and thus the investors exercised the Series B Warrant for 390,579 ordinary shares at $391. The carrying fair value of the warrant liabilities on the exercise day was $503,847 and the fair value change in warrant liabilities for the years ended December 31, 2018 was $652. The Company incurred a gain of $652 upon exercise of the warrants.
Minimum [Member]
Equity (Details) [Line Items]
Target adjust net income						23,300,000
Maximum [Member]
Equity (Details) [Line Items]
Target adjust net income						40,000,000
Placement Agent Warrants [Member]
Equity (Details) [Line Items]
Estimated fair value (in Dollars)		$ 96,185				$ 1,477	$ 40,800
Escrow [Member]
Equity (Details) [Line Items]
Sale of stock, description						The Company has achieved the earn-out payment requirement in 2016 thus one third of 8 million escrowed restricted shares were released in 2017. However the Company has not achieved the earn-out payment requirement in both 2018 and 2017, thus the two thirds of 8 million escrowed restricted shares were not released.
Ordinary shares description						Based on an evaluation as discussed in FASB ASC 815-40-15, “Contracts in Entity’s Own Equity – Scope and Scope Exceptions,” the Company determined that the Series B Warrants were not considered indexed to its own stock because the settlement amount does not equal the difference between the fair value of a fixed number of the Company’s shares and a fixed strike price.
Private Placement [Member]
Equity (Details) [Line Items]
Sale of stock, description			the Company and certain institutional investors entered into a securities purchase agreement (“Private Placement”), pursuant to which the Company agreed to sell to such investors an aggregate of 769,232 ordinary shares together with Series A warrants to purchase a total of 576,924 ordinary shares (the “Series A Warrants”), for gross proceeds of approximately $2.0 million. Each investor will receive a Series A Warrant to purchase a number of shares equal to 75% of the number of ordinary shares the investor purchases in the offering with a warrant term of four (4) years. The purchase price for each ordinary share and the related Series A Warrants is $2.60. The Series A Warrants have an exercise price of $2.60. In connection with the offering, the investors also received Series B warrants with an initial face amount of 200,000 ordinary shares, which are subject to adjustment not in excess of an aggregate of 462,843 ordinary shares (the “Series B Warrants”) for nominal consideration. If on the 30th day after the closing date of the transaction (the “Adjustment Date”), the closing bid price of the Company’s ordinary shares is less than $2.60, the investors shall have the right to exercise the Series B Warrants and the number of ordinary shares to be issued to the investors upon exercise of the Series B Warrants shall be adjusted (upward or downward, as necessary) based on the closing bid price of the Company’s ordinary shares on such date. The closing of the offering took place on July 10, 2018. On August 9, 2018, the closing bid price of the Company’s ordinary shares was $1.29, and thus the Series B Warrant was exercised for 390,579 ordinary shares.
Preferred Class A [Member]
Equity (Details) [Line Items]
preferred shares outstanding						715,000	715,000
Preferred shares issued						715,000	715,000		715,000
Preferred Class B [Member]
Equity (Details) [Line Items]
preferred shares outstanding						291,795,150
Preferred shares issued						291,795,150		291,795,150
Four Employees [Member]
Equity (Details) [Line Items]
Restricted shares issued					370,525
One independent Director [Member]
Equity (Details) [Line Items]
Restricted shares issued					370,525
2016 [Member] | Minimum [Member]
Equity (Details) [Line Items]
Target adjust net income						20,200,000
2016 [Member] | Maximum [Member]
Equity (Details) [Line Items]
Target adjust net income						32,000,000
2017 [Member] | Minimum [Member]
Equity (Details) [Line Items]
Target adjust net income						22,600,000
2017 [Member] | Maximum [Member]
Equity (Details) [Line Items]
Target adjust net income						38,000,000
2018 [Member] | Minimum [Member]
Equity (Details) [Line Items]
Target adjust net income						25,600,000
2018 [Member] | Maximum [Member]
Equity (Details) [Line Items]
Target adjust net income						44,000,000

Equity (Details) - Schedule of

Equity (Details) - Schedule of restricted shares - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2019
Equity (Details) - Schedule of restricted shares [Line Items]
Number of restricted shares	1,308
Weighted average granted date fair value (in Dollars per share)	$ 7.90
Number of restricted shares	370,525
Weighted average granted date fair value (in Dollars per share)	$ 0.85
Number of restricted shares	(370,683)
Weighted average granted date fair value (in Dollars per share)	$ 0.85
Number of restricted shares	(1,150)
Weighted average granted date fair value	7.90
Number of restricted shares
Weighted average granted date fair value (in Dollars per share)
Number of restricted shares
Weighted average granted date fair value (in Dollars per share)

Equity (Details) - Schedule o_2

Equity (Details) - Schedule of warrants activity - shares		Dec. 31, 2019	Dec. 31, 2017	Dec. 31, 2018
Warrant [Member]
Equity (Details) - Schedule of warrants activity [Line Items]
Number of shares			9,280,323
Weighted average life			3 years 189 days
Expiration dates			July 6, 2021
Number of shares		9,903,401		9,903,401
Weighted average life		1 year 211 days		2 years 211 days
Expiration dates	[1]
Series A Warrant [Member]
Equity (Details) - Schedule of warrants activity [Line Items]
Number of shares				576,924
Weighted average life				4 years
Expiration dates				July 9, 2022
Placement Agent Warrant [Member]
Equity (Details) - Schedule of warrants activity [Line Items]
Number of shares				46,154
Weighted average life				4 years
Expiration dates				July 9, 2022
Series B Warrants [Member]
Equity (Details) - Schedule of warrants activity [Line Items]
Number of shares				390,579
Weighted average life				29 days
Expiration dates				August 9, 2018
Exercise of Series B Warrants				(390,579)
[1]	As of December 31, 2019 and 2018, the Company's 9,903,401 shares of warrants were comprised of 9,280,323 shares which would expire on July 6, 2021, and 623,078 shares which would expire on July 9, 2022, respectively.

Equity (Details) - Schedule o_3

Equity (Details) - Schedule of assumptions used to value stock options granted using a Black-Scholes model - Series A Warrants [Member] - $ / shares	Jul. 10, 2018	Dec. 31, 2019	Dec. 31, 2018
Equity (Details) - Schedule of assumptions used to value stock options granted using a Black-Scholes model [Line Items]
Terms of warrants	48 years	30 years	42 years
Exercise price (in Dollars per share)	$ 2.60	$ 1.18	$ 2.60
Risk free rate of interest	2.77%	1.56%	2.77%
Dividend yield	0.00%	0.00%	0.00%
Annualized volatility of underlying stock	2.03%	2.45%	2.09%

Equity (Details) - Schedule o_4

Equity (Details) - Schedule of assumptions used to value stock options granted using a Black-Scholes model - Series B Warrants [Member]	Jul. 10, 2018$ / shares
Equity (Details) - Schedule of assumptions used to value stock options granted using a Black-Scholes model [Line Items]
Terms of warrants	1 year
Exercise price (in Dollars per share)	$ 0.001
Risk free rate of interest	1.88%
Dividend yield	0.00%
Annualized volatility of underlying stock	0.87%

Segment Reporting (Details)

Segment Reporting (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting [Abstract]
Number of operating segments	2	2

Segment Reporting (Details) - S

Segment Reporting (Details) - Schedule of segment reporting - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Net revenues of services	$ 631,140	$ 71,568
Commission and fee income on guarantee services, net	3,789
Total interest and fee income	2,882,828	50,682	1,629,062
Interest expenses	(2,218,815)	(25,118)
Provision for loan losses	(2,244,601)	(2,176,216)	(565,187)
Net (loss) income from operation	(945,659)	(2,079,084)	1,063,875
Depreciation	(15,184)	(15,897)	(7,134)
Capital expenditures	(833)
Income tax expense	(244,741)	(17,635)	(250,245)
Segment (loss) profit from continuing operations	(2,557,110)	(3,389,942)	$ (1,405,651)
Segment assets	55,389,282	95,668,530
Net income from operation, before interest expenses		(2,053,966)
Net fees income (loss) and revenues		(2,079,084)
Business conducted by Adrie and is subsidiaries [Member]
Segment Reporting Information [Line Items]
Net revenues of services	452,733
Commission and fee income on guarantee services, net
Total interest and fee income	2,784,052
Interest expenses	(2,218,815)	(25,118)
Provision for loan losses	(2,244,601)
Net (loss) income from operation	(1,226,631)
Depreciation	(12,882)	(15,897)
Capital expenditures	(833)
Income tax expense	(185,762)	(17,635)
Segment (loss) profit from continuing operations	(2,729,212)	(3,389,942)
Segment assets	3,113,525	95,668,530
Net income from operation, before interest expenses		(2,053,966)
Net fees income (loss) and revenues		(2,079,084)
Business conducted by Lixin Cayman and its subsidiaries [Member]
Segment Reporting Information [Line Items]
Net revenues of services	178,407
Commission and fee income on guarantee services, net	3,789
Total interest and fee income	98,776
Interest expenses
Provision for loan losses
Net (loss) income from operation	280,972
Depreciation	(2,302)
Capital expenditures
Income tax expense	(58,979)
Segment (loss) profit from continuing operations	172,102
Segment assets	$ 52,275,757
Net income from operation, before interest expenses
Net fees income (loss) and revenues

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Commitments and Contingencies (Details) [Line Items]
Claims adjustment amount	$ 7,920,000
Legal proceedings contingencies, description	When the Company closed the Lixin Acquisition on December 20, 2019, 17 legal proceedings were concluded after the enforcement, and one case with a claim of approximately $2.95 million (including principal of $2.85 million and interest of $0.1 million) was adjudicated and in the process of enforcement.
Guarantee	$ 35,103,876
Weighted average remaining lease term	3 years 6 months
Operating lease discount rates	4.75%
Rental expense	$ 78,756	$ 10,896
Financial Guarantee [Member]
Commitments and Contingencies (Details) [Line Items]
Guarantee	4,283,608
One Financial Guarantee Customer [Member]
Commitments and Contingencies (Details) [Line Items]
Guarantee	2,845,248
Nine Financial Guarantee Customer [Member]
Commitments and Contingencies (Details) [Line Items]
Guarantee	1,438,360
Payment Guarantee [Member]
Commitments and Contingencies (Details) [Line Items]
Guarantee	$ 4,283,608

Commitments and Contingencies_3

Commitments and Contingencies (Details) - Schedule of operating lease related assets and liabilities - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Schedule of operating lease related assets and liabilities [Abstract]
Right of use assets	$ 400,720
Operating lease liabilities, current portion	106,136
Operating lease liabilities, noncurrent portion	265,797
Total operating lease liabilities	$ 371,933

Commitments and Contingencies_4

Commitments and Contingencies (Details) - Schedule of maturities of lease liabilities	Dec. 31, 2019USD ($)
Schedule of maturities of lease liabilities [Abstract]
Twelve months ended December 31, 2020	$ 107,397
Twelve months ended December 31, 2021	112,767
Twelve months ended December 31, 2022	118,405
Twelve months ended December 31, 2023	60,647
Total lease payments	399,216
Less: imputed interest	(27,283)
Present value of lease liabilities	$ 371,933

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member]	Mar. 03, 2020	Feb. 28, 2020
Ningbo Dingtai [Member]
Subsequent Events (Details) [Line Items]
Equity interest	1.00%	99.00%
Hangzhou Zeshi [Member]
Subsequent Events (Details) [Line Items]
Equity interest	99.00%	1.00%