American Education Center (AMCT) 10-Q 14 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Nov. 08, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Registrant Name	AMERICAN EDUCATION CENTER, INC.
Entity Central Index Key	0001626556
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		56,797,113

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS	Sep. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Current assets:
Cash	$ 990,073	$ 1,985,133
Accounts receivable, net of allowance for doubtful accounts of $1,952,458 and $1,189,147 at September 30, 2019 and December 31, 2018, respectively	3,837,963	2,906,231
Prepaid expenses	395,934	300,715
Total current assets	5,223,970	5,192,079
Noncurrent assets:
Fixed Asset, net	5,099	0
Deferred income taxes	251,928	428,206
Intangible asset, net	309,272	420,407
Operating lease right-of-use asset	2,218,061	0
Security deposits	284,544	266,021
Total noncurrent assets	3,068,904	1,114,634
Total assets of continuing operations	8,292,874	6,306,713
Assets of discontinued operations, net		917,059
TOTAL ASSETS	8,292,874	7,223,772
Current liabilities:
Accounts payable and accrued expenses	2,745,893	2,792,388
Taxes payable	56,754	0
Deferred revenue	335,600	252,925
Advances from clients	59	34,892
Short-term loan from related party	419,680	0
Long-term loan due within a year	145,579	145,579
Operating lease liability - current portion	311,883	0
Total current liabilities	4,015,448	3,225,784
Noncurrent liabilities:
Deferred rent	0	221,461
Operating lease liability	2,148,317
Total liabilities of continuing operations	6,163,765	3,447,245
Liabilities of discontinued operations		1,881,404
Total liabilities	6,163,765	5,328,649
Stockholders' equity:
Common stock, $0.001 par value; 450,000,000 shares authorized; 56,597,113 shares issued and 55,597,113 outstanding at September 30, 2019 and December 31, 2018 respectively	56,797	56,597
Additional paid-in capital	8,267,930	8,206,130
Treasury stock at cost, 1,000,000 shares at 0.66 per share	(660,000)
Subscription receivables	(592,305)	(719,911)
Retained earnings	(5,012,657)	(5,714,688)
Accumulated other comprehensive income	(7,106)	(13,865)
Total controlling interest	2,077,659	1,839,263
Noncontrolling Interest	51,450	55,860
Total stockholders' equity	2,129,109	1,895,123
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	8,292,874	7,223,772
Series B Preferred Stock
Stockholders' equity:
Preferred stock	25,000	25,000
Total stockholders' equity	$ 25,000	$ 25,000

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Allowance for Doubtful Accounts Receivable (in dollars)	$ 1,952,458	$ 1,189,147
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001	$ 0.001
Common Stock, Shares Authorized	450,000,000	450,000,000
Common Stock, Shares, Issued	56,597,113	56,597,113
Common Stock, Shares, Outstanding	55,597,113	55,597,113
Treasury stock at cost (shares)	1,000,000	1,000,000
Treasury stock at cost (in dollars per share)	$ 0.66	$ 0.66
Series B Preferred Stock
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	25,000,000	25,000,000
Preferred Stock, Shares Issued	25,000,000	0
Preferred Stock, Shares Outstanding	25,000,000	0

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
Revenues	$ 1,564,681	$ 1,903,310	$ 4,704,472	$ 5,002,111
Cost of revenues	880,389	1,361,461	2,649,076	3,377,761
Gross profit	684,292	541,849	2,055,396	1,624,350
Operating expenses:
Selling and marketing	116,008	371,096	317,257	434,511
General and administrative	953,872	919,335	2,405,750	1,841,407
Total operating expenses	1,069,880	1,290,431	2,723,007	2,275,918
(Loss) from operations	(385,588)	(748,582)	(667,611)	(651,568)
Other income	7	12,823	1,304	13,491
(Loss) before provision for income taxes	(385,581)	(735,759)	(666,307)	(638,077)
(Benefit) provision for income taxes	(105,656)	(43,812)	260,420	0
Net loss from continuing operations including noncontrolling interest	(279,925)	(691,947)	(926,727)	(638,077)
Net income (loss) from discontinued operations, net of income taxes benefit	0	(1,823,861)	928,475	(5,312,402)
Net income (loss) including noncontrolling interest	(279,925)	(2,515,808)	1,748	(5,950,479)
Less: Net (loss) attributable to noncontrolling interest	(1,470)	(1,470)	(4,410)	(1,470)
Net income (loss) attributable to American Education Center	(278,455)	(2,514,338)	6,158	(5,949,009)
Net income (loss) including noncontrolling interest	(279,925)	(2,515,808)	1,748	(5,950,479)
Other comprehensive income (loss)
Foreign currency translation gain (loss)	5,588	(14,427)	6,759	(19,337)
Comprehensive income (loss) including noncontrolling interest	(274,337)	(2,530,235)	8,507	(5,969,816)
Less: Comprehensive income (loss) attributable to noncontrolling interest	(1,470)	(1,470)	(4,410)	(1,470)
Comprehensive income (loss) attributable to American Education Center	$ (272,867)	$ (2,528,765)	$ 12,917	$ (5,968,346)
(Loss) earnings per common share - basic and diluted
Income (loss) from continuing operations	$ 0	$ (0.02)	$ (0.02)	$ (0.02)
(Loss) from discontinued operations	0	(0.04)	0.02	(0.13)
Net (loss) earnings per common share - basic and diluted	$ 0	$ (0.06)	$ 0	$ (0.14)
Weighted average shares
Outstanding, basic and diluted	56,058,483	41,883,000	56,058,483	41,883,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS	3 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)
Cash flows from operating activities:
Net income (loss)	$ (279,925)	$ 1,748	$ (5,950,479)
(Income) loss from discontinued operation, net of income taxes	0	(928,475)	5,312,402
Adjustments to reconcile net income including noncontrolling interest to net cash (Used in) operating activities:
Deferred tax provision (benefit)	(109,330)	176,278	(50,762)
Deferred rent expense		(20)	25,450
Amortization of right-of-use asset		203,647	0
Initial payment of lease for Qianhai		(15,399)
Gain from disposal of the discontinued operation, net of income taxes		(928,475)
Gain from bargain purchase of business		(13,200)	(13,200)
Stock-based compensation expense		62,000	199,840
Provision for doubtful accounts		763,311	289,370
Depreciation expense for fixed assets	262	262
Amortization expense for learning platform		9,000	3,000
Amortization expense		102,135	102,136
Change in operating assets and liabilities:
(Increase) in security deposit		(18,523)
(Increase) in accounts receivable		(1,695,043)	(1,905,888)
(Increase) in prepaid expenses		(95,219)	104,582
(Decrease) increase in accounts payable and accrued expenses		(46,495)	1,182,852
Increase in taxes payable		56,754	332,021
Increase in deferred revenue		82,675	301,999
(Decrease) in lease liabilities		(167,547)	0
(Decrease) in advances from clients		(34,833)	18,386
Net cash (used in) continuing operating activities		(1,543,744)	(48,291)
Net cash (used in) discontinued operating activities		0	(865,793)
Net cash (used in) operating activities		(1,543,744)	(914,084)
Cash flows from investing activities:
Fixed assets purchased by Qianhai		(5,361)
Net cash used for by investing activities		(5,361)
Cash flows from financing activities:
Loan from related party		547,286	0
Net cash provided by continuing financing activities		547,286	0
Net cash provided by discontinued financing activities		0	0
Net cash provided by financing activities		547,286	0
Effect of exchange rates changes on cash		6,759	(19,337)
Net change in cash		(995,060)	(933,421)
Cash at beginning of period		1,985,133	2,720,985
Cash at end of period	990,073	990,073	1,787,564
Less cash of discontinued operations - end of period	0	0	391
Cash of continuing operations - end of period	990,073	990,073	1,787,713
Supplemental disclosure of cash flow information
Cash paid for income taxes		39,829	25,764
Cash paid for interest		14,558	7,279
NON-CASH TRANSACTIONS
Disposal of subsidiary by reacquiring stock and debt forgiven		928,475
Initial recognition of operating lease right-of-use asset		2,438,332
Operating lease liabilities	$ 2,644,373	$ 2,644,373	$ 0

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Series A Preferred Stock	Series B Preferred Stock	Noncontrolling Interest [Member]	Common stock	Additional paid-in capital	Treasury Stock	Subscription Receivables	Retained earnings	Accumulated other comprehensive income	Total
Balance at Dec. 31, 2017	$ 500			$ 41,350	$ 6,021,126			$ 973,764	$ 6,753	$ 7,043,493
Balance (in shares) at Dec. 31, 2017	500,000			41,350,000
Net income (loss)								(1,823,929)		(1,823,929)
Foreign currency translation income									11,484	11,484
Balance at Mar. 31, 2018	$ 500			$ 41,350	6,021,126			(850,165)	18,237	5,231,048
Balance (in shares) at Mar. 31, 2018	500,000			41,350,000
Balance at Dec. 31, 2017	$ 500			$ 41,350	6,021,126			973,764	6,753	7,043,493
Balance (in shares) at Dec. 31, 2017	500,000			41,350,000
Net income (loss)										(5,950,479)
Foreign currency translation income										(19,337)
Balance at Sep. 30, 2018	$ 500		$ 57,330	$ 41,883	6,268,433			(4,975,245)	(12,584)	1,380,317
Balance (in shares) at Sep. 30, 2018	500,000			41,883,000
Balance at Mar. 31, 2018	$ 500			$ 41,350	6,021,126			(850,165)	18,237	5,231,048
Balance (in shares) at Mar. 31, 2018	500,000			41,350,000
Net income (loss)								(1,610,742)		(1,610,742)
Foreign currency translation income									(16,394)	(16,394)
Balance at Jun. 30, 2018	$ 500			$ 41,350	6,021,126			(2,460,907)	1,843	3,603,912
Balance (in shares) at Jun. 30, 2018	500,000			41,350,000
Net income (loss)			(1,470)					(2,514,338)		(2,515,808)
Foreign currency translation income									(14,427)	(14,427)
Issuance of common stock for acquisition of business			58,800	$ 100	47,900					105,330
Issuance of common stock for acquisition of business (in shares)				100,000
Issuance of common stock for services				$ 433	199,407					199,840
Issuance of common stock for services (in shares)				433,000
Balance at Sep. 30, 2018	$ 500		57,330	$ 41,883	6,268,433			(4,975,245)	(12,584)	1,380,317
Balance (in shares) at Sep. 30, 2018	500,000			41,883,000
Balance at Dec. 31, 2018		$ 25,000	55,860	$ 56,597	8,206,130		$ (719,911)	(5,714,688)	(13,865)	1,895,123
Balance (in shares) at Dec. 31, 2018		25,000,000		56,597,113
Net income (loss)			1,470					80,956		82,426
Foreign currency translation income									1,165	1,165
Balance at Mar. 31, 2019		$ 25,000	57,330	$ 56,597	8,206,130		(719,911)	(5,633,732)	(12,700)	1,978,714
Balance (in shares) at Mar. 31, 2019		25,000,000		56,597,113
Balance at Dec. 31, 2018		$ 25,000	55,860	$ 56,597	8,206,130		(719,911)	(5,714,688)	(13,865)	1,895,123
Balance (in shares) at Dec. 31, 2018		25,000,000		56,597,113
Net income (loss)										1,748
Foreign currency translation income										6,759
Balance at Sep. 30, 2019		$ 25,000	51,450	$ 56,797	8,267,930	$ (660,000)	(592,305)	(5,012,657)	(7,106)	2,129,109
Balance (in shares) at Sep. 30, 2019		25,000,000		55,797,113		1,000,000
Balance at Mar. 31, 2019		$ 25,000	57,330	$ 56,597	8,206,130		(719,911)	(5,633,732)	(12,700)	1,978,714
Balance (in shares) at Mar. 31, 2019		25,000,000		56,597,113
Net income (loss)			(4,410)					203,657		261,247
Foreign currency translation income									6	6
Realization upon disposal of subsidiary by reacquiring stock						$ (660,000)		695,873		35,873
Realization upon disposal of subsidiary by reacquiring stock (in shares)				(1,000,000)		1,000,000
Issuance of common stock for services				$ 200	61,800					62,000
Issuance of common stock for services (in shares)				200,000
Issuance of common stock for cash							143,982			143,982
Balance at Jun. 30, 2019		$ 25,000	52,920	$ 56,797	8,267,930	$ (660,000)	(575,929)	(4,734,202)	(12,694)	2,419,822
Balance (in shares) at Jun. 30, 2019		25,000,000		55,797,113		1,000,000
Net income (loss)			(1,470)					(278,455)		(279,925)
Foreign currency translation income									5,588	5,588
Issuance of common stock for cash							(16,376)			(16,376)
Balance at Sep. 30, 2019		$ 25,000	$ 51,450	$ 56,797	$ 8,267,930	$ (660,000)	$ (592,305)	$ (5,012,657)	$ (7,106)	$ 2,129,109
Balance (in shares) at Sep. 30, 2019		25,000,000		55,797,113		1,000,000

ORGANIZATION AND BUSINESS

ORGANIZATION AND BUSINESS	9 Months Ended
	Sep. 30, 2019
ORGANIZATION AND BUSINESS
ORGANIZATION AND BUSINESS	1. ORGANIZATION AND BUSINESS American Education Center, Inc. (“AEC New York”) is a New York corporation incorporated on November 8, 1999 and is licensed by the Education Department of the State of New York to engage in education related consulting services. On May 7, 2014, the President and then sole shareholder of AEC New York formed a new company, American Education Center, Inc.in the State of Nevada ("AEC Nevada"). On May 31, 2014, the President and the sole shareholder of AEC New York exchanged his 200 shares for 10,563,000 shares of AEC Nevada. The share exchange resulted in AEC New York becoming a wholly owned subsidiary of AEC Nevada (hereinafter the “Company”). On October 31, 2016, the Company completed an acquisition transaction through a share exchange with two then stockholders, Rongxia Wang and Ye Tian, of AEC Southern Management Co., Ltd. (“AEC Southern UK”), a company formed in December 2015 pursuant to the laws of England and Wales. The Company acquired 100% of the outstanding shares of AEC Southern UK in exchange for 1,500,000 shares of its common stock valued at $210,000 (the “AEC Southern UK Share Exchange”). As a result of the AEC Southern UK Share Exchange, AEC Southern UK became a wholly owned subsidiary of the Company. AEC Southern UK held 100% of the equity interests in AEC Southern Management Limited, a Hong Kong company (“AEC Southern HK”) formed on December 29, 2015. AEC Southern HK then formed Qianhai Meijiao Education Consulting Management Co., Ltd. (“AEC Southern Shenzhen”) on March 29, 2016 pursuant to PRC laws, with a registered capital of RMB 5,000,000. Therefore, under PRC laws, AEC Southern Shenzhen was a foreign wholly owned subsidiary of AEC Southern UK. On July 13, 2018, pursuant to a Business Purchase Agreement (the “Purchase Agreement”), the Company acquired 51% of the issued and outstanding equity interests of American Institute of Financial Intelligence LLC (“AIFI”), a New Jersey limited liability company formed on May 10, 2017, in exchange for 100,000 shares of the Company common stock issued to the then sole shareholder of AIFI. As a result, AIFI became a 51% majority owned subsidiary of the Company. On October 23, 2018, AEC Nevada incorporated a subsidiary, AEC Management Ltd. (“AEC BVI”) in the British Virgin Islands, pursuant to the laws of British Virgin Islands. AEC BVI is a wholly owned subsidiary of AEC Nevada, and as of the date of this report, does not have significant business activities. On April 22, 2019, AEC Southern UK sold 100% of the equity interests of AEC Southern HK to AEC BVI and AEC Southern HK and its subsidiary became wholly-owned subsidiaries of AEC BVI. On May 1, 2019, the Company sold 100% of the equity interest in AEC Southern UK to three individuals who were Ye Tian, Rongxia Wang and Weishou Li, and received a consideration of 1,000,000 shares of outstanding shares of AEC Nevada. The Company’s corporate structure is as follows: Headquartered in New York with operations in the People’s Republic of China (“PRC”), the Company covers two market segments through two subsidiaries: (1) AEC New York capitalizes on the rising demand of middle-class families in China for quality education and work experiences in the United States (“US”) and delivers customized high school and college placement and career advisory services to Chinese students wishing to study in the US. Its advisory services include language training, college admission advisory, on-campus advisory, internship and start-up advisory as well as student and family services. (2) AEC BVI delivers customized high school and college placement and career advisory services to Chinese students wishing to study in the U.S. Currently, the revenue of AEC Southern is all generated from AEC Southern Shenzhen.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Consolidation and Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). These consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. In the opinion of management, all adjustments considered necessary to give a fair presentation have been included. Interim results are not necessarily indicative of full-year results. Certain prior year balances have been reclassified to conform to the current year’s presentation; none of these reclassifications had an impact on reported financial position or cash flows for any of the periods presented. The information in this Form 10‑Q should be read in conjunction with information included in the Company’s annual report on Form 10‑K for the fiscal year ended December 31, 2018 filed with the SEC on April 16, 2019. Cash Cash consists of all cash balances and liquid investments with an original maturity of three months or less are considered as cash equivalents. Accounts Receivable Accounts receivable are carried at net realizable value. The Company maintains an allowance for doubtful accounts, periodically evaluates its accounts receivable balances and makes general and/or specific allowances when there is doubt as to their collectability. In evaluating the collectability of individual receivable balances, the Company considers many factors, including the age of the balances, customers’ historical payment history, their current credit-worthiness and current economic trends. Accounts receivable are written off against the allowance only after exhaustive collection efforts. As of September 30, 2019 and December 31, 2018, the allowance for doubtful accounts was $1,952,458 and $1,189,147 for AEC NY, $0 and $0 for AEC BVI. Foreign Currency Translation The Company’s functional currency is US dollars. The company has two bank accounts located in the PRC. Translation adjustments arising from the use of different exchange rates from period to period are included as a separate component of accumulated other comprehensive income included in statements of changes in stockholders’ equity. Gain and losses from foreign currency transactions are included in the consolidated statements of operations and comprehensive income. Revenue Recognition The Company adopted ASU No. 2014-09, Topic 606 on January 1, 2018, using the modified retrospective method. ASC 606 requires the use of a new five-step model to recognize revenue from customer contracts. The five-step model requires that the Company (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Company satisfies the performance obligation. AEC New York delivers customized high school and college placement, career advisory as well as student and family services. Fees related to such advisory services that are collected from individuals are generally paid to the Company in advance and they are recorded as deferred revenue. Revenues are recognized proportionally as services are rendered or upon completion. Fees related to our advisory services provided by AEC New York to corporate customers (such as staffing agencies and placement agencies) are generally collected after services are provided, and are recorded as accounts receivable. Prior the disposal of AEC Southern UK on May 1, 2019, AEC Southern UK delivered customized corporate training and advisory services. It received monthly non-refundable retainer payments and recognized revenue as services were rendered. AEC Shenzhen delivers customized high school and college placement and career advisory services. Fees related to such advisory services are generally paid to the Company in advance and they are recorded as deferred revenue. Revenues are recognized proportionally as services are rendered or upon completion. For the three months ended September 30, 2019, approximately 1.4 million, or more than 80%, of the revenue was recorded as accounts receivable and approximately $120,000 of the revenue was realized from deferred revenue. Intangible Asset The Company’s finite-lived intangible asset consists of a customized online campus system that was acquired from a third party. The system is used to provide online training for career advisory services and corporate training and advisory services. The asset was recorded at cost on the acquisition date and is amortized on a straight-line basis over its economic useful life. The Company reviews its finite-lived intangible asset for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of the asset to be held and used is measured by a comparison of the carrying amount of an asset to its undiscounted future net cash flows expected to be generated by the asset. If such asset is not recoverable, a potential impairment loss is recognized to the extent the carrying amount of the asset exceeds its fair value. Fair value is generally determined using a discounted cash flow approach. S tock-Based Compensation The Company uses the fair value-based method for stock issued for services rendered and therefore all awards to employees and non-employees will be recorded at the market price on the date of the grant and expensed over the required period of services to be rendered. The fair value of stock options issued to third party consultants and to employees, officers and directors are recorded in accordance with the measurement and recognition criteria of FASB ASC 505‑50, “Equity-Based Payments to Non-Employees” and FASB ASC 718, “Compensation – Stock Based Compensation,” respectively. The options are valued using the Black-Scholes valuation model. This model is affected by the Company’s stock price as well as assumptions regarding a number of subjective variables. These subjective variables include but are not limited to the Company’s expected stock price volatility over the expected term of the awards, and actual and projected stock option and warrant exercise behaviors and forfeitures. Income Taxes The Company accounts for income taxes in accordance with FASB ASC 740, “Income Taxes,” which requires the recognition of deferred income taxes for differences between the basis of assets and liabilities for financial statement and income tax purposes. Deferred tax assets and liabilities represent the future tax consequences for those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled. Deferred taxes are also recognized for operating losses that are available to offset future taxable income. A valuation allowance is established when necessary to reduce deferred tax assets to the amount expected to be realized. ASC 740 also addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under ASC 740, the Company may recognize the tax benefit from an uncertain tax position only if it is “more likely than not” that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position would be measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. ASC 740 also provides guidance on derecognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, and accounting for interest and penalties associated with tax positions. At September 30, 2019 and December 31, 2018, the Company does not have a liability for any unrecognized tax benefits. The income tax laws of various jurisdictions in which the Company and its subsidiaries operate are summarized as follows: United States (“US”) On December 22, 2017, the U.S. Tax Cuts and Jobs Act (TCJA) was signed into law. The TCJA results in significant revisions to the U.S. corporate income tax system, including a reduction in the U.S. corporate income tax rate, implementation of a territorial system and a one-time deemed repatriation tax on untaxed foreign earnings. Generally, the impacts of the new legislation would be required to be recorded in the period of enactment. The Company is subject to Federal corporate income tax in the US at 21%. Provisions for income taxes for the United States have been made for the nine months ended September 30, 2019. United Kingdom (“UK”) According to current England and Wales income tax law, resident companies are taxable in the United Kingdom on their worldwide profits and subject to an opt-out for non-UK permanent establishments (PEs), while non-resident companies are subject to UK corporation tax only on the trading profits attributable to a UK PE, or the trading profits attributable to a trading of dealing in or developing UK land, plus UK income tax on any other UK source income. AEC Southern UK was formed in the United Kingdom and is governed by the income tax laws of England and Wales. On May 1, 2019, the Company sold 100% of the equity interests in AEC Southern UK to three individuals and AEC Southern UK is no longer a subsidiary of the Company. Since AEC Southern UK had no PEs in the UK as of May 1, 2019 and had no UK-source income during 2018, the Company is not subject to tax on non-UK source income. British Virgin Island (“BVI”) According to BVI corporate taxation, there is a zero-rated income tax regime for all BVI-domiciled corporate entities, and there is no concept of residence applicable to BVI corporate taxation. AEC BVI was incorporated in the BVI and is governed by the laws of the BVI. Hong Kong AEC Southern HK was formed in Hong Kong. Pursuant to the income tax laws of Hong Kong, the Company is not subject to tax on non-Hong Kong source income. The People’s Republic of China (“PRC”) AEC Southern Shenzhen was incorporated in the PRC. Pursuant to the income tax laws of China, the Company is not subject to tax on non-China source income. The Company is subject to corporate tax in China at 25% for the net taxable income. AEC Southern Shenzhen has no income tax for the nine months ended September 30, 2019 due to the net operating loss for the period. The provisions of ASC 740‑10‑25, “Accounting for Uncertainty in Income Taxes,” prescribe a more-likely-than-not threshold for consolidated financial statement recognition and measurement of a tax position taken (or expected to be taken) in a tax return. This ASC also provides guidance on the recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, and related disclosures. Fair Value Measurements FASB ASC 820, “Fair Value Measurement,” specifies a hierarchy of valuation techniques based upon whether the inputs to those valuation techniques reflect assumptions other market participants would use based upon market data obtained from independent sources (observable inputs). In accordance with ASC 820, the following summarizes the fair value hierarchy: Level 1 Inputs – Unadjusted quoted market prices for identical assets and liabilities in an active market that the Company has the ability to access. Level 2 Inputs – Inputs other than the quoted prices in active markets that are observable either directly or indirectly. Level 3 Inputs – Inputs based on prices or valuation techniques that are both unobservable and significant to the overall fair value measurements. FASB ASC 820 requires the use of observable market data, when available, in making fair value measurements. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. The Company did not identify any assets or liabilities that are required to be presented at fair value on a recurring basis. Non-derivative financial instruments include cash, accounts receivable, prepaid expenses, accounts payable and accrued expenses, taxes payable, and loan from stockholders. As of September 30, 2019 and December 31, 2018, the carrying values of these financial instruments approximated their fair values due to their short-term nature. Use of Estimates The preparation of the consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Earnings (Loss) per Share Earnings (loss) per share is calculated in accordance with FASB ASC 260, “ Earnings Per Share .” Basic earnings (loss) per share is based upon the weighted average number of common shares outstanding during the period. Diluted earnings per share is based on the assumption that all dilutive convertible shares and stock options are converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Options and warrants are only dilutive when the average market price of the underlying common stock exceeds the exercise price of the options or warrants because it is unlikely they would be exercised if the exercise price were higher than the market price. Noncontrolling interest According to Financial Accounting Standards Board (FASB) Statement No. 160, the noncontrolling interest shall be reported in the consolidated statement of financial position within equity, separately from the parent’s equity. That amount shall be clearly identified and labeled, for example, as noncontrolling interest in subsidiaries. An entity with noncontrolling interests in more than one subsidiary may present those interests in aggregate in the consolidated financial statements。 Bargain Purchase According to Financial Accounting Standards Board (FASB) Statement No. 141 (revised 2007), a barging purchase is defined as a business combination in which the total acquisition-date fair value of the identifiable net assets acquired exceeds the fair value of the consideration transferred plus any noncontrolling interest in the acquiree, and it requires the acquirer to recognize that excess in earnings as a gain attributable to the acquire. Contingent Consideration The Company recognizes the fair value of any contingent consideration that is transferred to the seller in a business combination on the date at which control of the acquiree is obtained. This value is generally determined through a probability-weighted analysis of the expected cash flows. Contingent consideration is classified as a liability or as equity on the basis of the definitions of an equity instrument and a financial liability. The contingent consideration is payable in cash and, accordingly, the Company classified its contingent consideration as a liability. It is not remeasured, and any gain or loss on settlement at an amount different from its carrying value will be recognized in net income in the period during which it is settled. Leases On January 1, 2019, the Company adopted Accounting Standards Update No. 2016‑02, Leases (Topic 842) (ASU 2016‑02), as amended, which supersedes the lease accounting guidance under Topic 840, and generally requires lessees to recognize operating and financing lease liabilities and corresponding right-of-use (ROU) assets on the balance sheet and to provide enhanced disclosures surrounding the amount, timing and uncertainty of cash flows arising from leasing arrangements. The Company adopted the new guidance using the modified retrospective transition approach by applying the new standard to all leases existing at the date of initial application and not restating comparative periods. The most significant impact was the recognition of ROU assets and lease liabilities for operating leases, while accounting for finance leases remained substantially unchanged. The Company determined if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets and short- and long-term lease liabilities in our consolidated balance sheets. Finance leases are included in property and equipment, other current liabilities, and other long-term liabilities in our consolidated balance sheets. As of adoption of ASC 842 and as of January 1, 2019, the Company was not a party to finance lease arrangements. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the leases do not provide an implicit rate, the Company use the industry incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company use the implicit rate when readily determinable. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. The lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Under the available practical expedient, the Company account for the lease and non-lease components as a single lease component. Adoption of the standard resulted in the initial recognition of $2,016,142 of ROU assets and $2,237,583 of lease liabilities on our consolidated balance sheet at adoption on January 1, 2019 related to office space lease commitment on March 1, 2015. The difference of $221,441 represented deferred rent for leases that existed as of the date of adoption, which was an offset to the opening balance of right-of-use assets. The adoption of the standard on January 1, 2019 did not have a material impact on our consolidated statements of income, stockholders’ equity and cash flows.

RECENTLY ISSUED ACCOUNTING STAN

RECENTLY ISSUED ACCOUNTING STANDARDS	9 Months Ended
	Sep. 30, 2019
RECENTLY ISSUED ACCOUNTING STANDARDS
RECENTLY ISSUED ACCOUNTING STANDARDS	3. RECENTLY ISSUED ACCOUNTING STANDARDS In August 2014, the FASB issued an accounting standard update which requires management to assess whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the financial statements are issued. If substantial doubt exists, additional disclosures are required. This update was effective for the Company's annual period ended January 28, 2017. The adoption of the new standard did not have a material impact on the Company’s consolidated financial position, results of operations, cash flows or disclosures. In February 2016, the FASB issued ASU 2016‑02, “Leases.” The new standard establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company has adopted the requirements of ASU 2016‑02 on January 1, 2019, the first day of fiscal year 2019, and using the modified retrospective approach, electing the package of practical expedients, and the practical expedient to not separate lease and non-lease components for operating leases. We also elected the modified retrospective approach that permits adoption of the new standard prospectively, as of the effective date, without adjusting comparative periods presented. The current adjustment has been disclosed and presented on the Company's balance sheet. In January 2017, the FASB issued accounting standard update which simplifies the test for goodwill impairment. To address concerns over the cost and complexity of the two-step goodwill impairment test, the amendments in this update remove the second step of the test. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. This update is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company adopted the update in the fourth quarter of 2018. The adoption of the new standard did not have an impact on our consolidated financial statements. In May 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017‑09, Scope of Modification Accounting, which amends the scope of modification accounting for share-based payment arrangements and provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting under ASC 718. For all entities, this ASU is effective for annual reporting periods, including interim periods within those annual reporting periods, beginning after December 15, 2017. Early adoption is permitted, including adoption in any interim period. The adoption of this ASU has no material impact on the Company’s consolidated financial statements. In February 2018, the FASB issued ASU 2018‑02, Income Statement – Reporting Comprehensive Income (Topic 220). The amendments in this update affect any entity that is required to apply the provisions of Topic 220, Income Statement—Reporting Comprehensive Income, and has items of other comprehensive income for which the related tax effects are presented in other comprehensive income as required by GAAP. The amendments in this Update are effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. In March 2018, the FASB issued ASU 2018‑05: Income Taxes (Topic 740) that addresses the recognition of provisional amounts in the event that the accounting is not complete and a reasonable estimate can be made. The guidance allows for a measurement period of up to one year from the enactment date to finalize the accounting related to the TCJA.

CONCENTRATION OF CREDIT AND BUS

CONCENTRATION OF CREDIT AND BUSINESS RISK	9 Months Ended
	Sep. 30, 2019
CONCENTRATION OF CREDIT AND BUSINESS RISK
CONCENTRATION OF CREDIT AND BUSINESS RISK	4. CONCENTRATION OF CREDIT AND BUSINESS RISK The Company maintains its cash accounts at two commercial banks in the US, two commercial banks in the PRC and one commercial bank in Hong Kong. The Federal Deposit Insurance Corporation covers funds held in US banks and insures $250,000 per depositor, per insured bank, for each account ownership category. Funds held in the PRC banks are covered by Deposit Insurance Ordinance (index: 000014349/2015‑00031) that insures RMB500,000 for the total of all depository accounts. The Hong Kong Deposit Protection Board covers funds held in HK banks and it insures HK$500,000 per bank for the total of all depository accounts. As of September 30, 2019, the Company’s US bank accounts had cash balances in excess of federally insured limits of approximately $261,103. The Company performs ongoing evaluation of its financial institutions to limit its concentration of risk exposure. Management believes this risk is not significant due to the financial strength of the financial institutions utilized by the Company. The following table represents major customers that individually accounted for more than 10% of the Company’s gross revenue for the nine months ended September 30, 2019 and 2018: 2019 Gross Accounts Revenue Percentage Receivable Percentage Customer 1 $ 2,223,080 47.3 % $ 1,976,639 34.3 % Customer 2 $ 1,141,900 24.3 % 1,723,520 29.9 % 2018 Gross Accounts Revenue Percentage Receivable Percentage Customer 1 $ 1,490,120 29.8 % $ 626,812 17.4 % Customer 2 1,067,300 21.3 % 1,215,140 33.6 % Customer 3 535,200 10.7 % 84,700 2.3 %

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	9 Months Ended
	Sep. 30, 2019
DISCONTINUED OPERATIONS
DISCONTINUED OPERATIONS	5. DISCONTINUED OPERATIONS On May 1, 2019, AEC Nevada sold 100% of the equity interest in AEC Southern UK to three individuals, Ye Tian, Rongxia Wang and Weishou Li, and received a consideration of 1,000,000 shares of outstanding shares of AEC Nevada which was valued at $660,000 and the debt owed to AEC Southern UK in the amount of $268,475 was forgiven by AEC Southern UK. The Company has classified the results of AEC Southern UK as discontinued operations in the unaudited consolidated statement of income for all periods presented. Additionally, the related assets and liabilities associated with the discontinued operations in the prior year consolidated balance sheet are classified as discontinued operations. The Company recognized a gain of $928,475 from the disposition. Pursuant to ASC Topic 205‑20, Presentation of Financial Statements - Discontinued Operations, the results of operations for the nine months ended September 30, 2019 and year ended December 31, 2018 from discontinued operations have been classified to loss from discontinued operations line on the accompanying consolidated statements of operations and comprehensive loss presented herein. The assets and liabilities also have been classified as discontinued operations in the Company’s consolidated financial statements as of September 30, 2019 and December 31, 2018. The carrying amount of the major classes of assets and liabilities of discontinued operation as of May 1, 2019 and December 31, 2018 consist of the following: May 1, 2019 December 31, 2018 Assets of discontinued operation: Current assets: Cash and cash equivalents $ 391 $ 391 Accounts receivable 4,864,297 4,595,823 Allowance for doubtful account (4,595,823) (4,595,823) Deferred compensation 550,001 916,668 Total assets of discontinued operation $ 818,866 $ 917,059 Liabilities of discontinued operation: $ — Current liabilities: Accounts payable $ 1,881,404 $ 1,881,404 Other payables — — Total liabilities of discontinued operation $ 1,881,404 $ 1,881,404 The summarized operating result of discontinued operation included in the Company’s consolidated statements of operation consist of the following: From January 1 to May 1, 2019 Revenues $ — Cost of revenues — Gross profit — Operating expenses (366,667) Other income (expenses), net — Loss before income tax (366,667) Income tax expense — Loss from discontinued operation (366,667) Total loss from discontinued operations, net of income taxes $ (366,667)

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
	Sep. 30, 2019
SEGMENT REPORTING
SEGMENT REPORTING	6. SEGMENT REPORTING Operating segments have been determined on the basis of reports reviewed by the Company's Chief Executive Officer (CEO) who is the chief operating decision maker of the Company. The CEO evaluates the business from a geographic perspective, assesses performance and allocates resources on this basis. The reportable segments are as follows: After the discontinued operations of AEC Southern UK, the Company has two operating segments: AEC New York and AEC BVI. · AEC New York delivers placement, career and other advisory services Its advisory services include language training, admission advisory, on-campus advisory, internship and start-up advisory as well as other advisory services. · AEC BVI delivers customized high school and college placement and career advisory services to Chinese students wishing to study in the U.S. Currently, the revenue of AEC BVI all generated from AEC Southern Shenzhen. The following table shows an analysis by segment of the assets and liabilities of continuing and discontinued operations as of September 30, 2019 and December 31, 2018: September 30, 2019 AEC New York AEC BVI AEC Southern Total Segment assets and liabilities: Segment assets Segment assets from continuing operations $ 7,518,712 $ 774,162 $ — $ 8,292,874 Segment assets of discontinued operations — — — — Segment assets $ 7,518,712 $ 774,162 $ — $ 8,292,874 Segment liabilities Segment liabilities from continuing operations $ 5,357,205 $ 806,560 $ — $ 6,163,765 Segment liabilities of discontinued operations — — — — Segment liabilities $ 5,357,205 $ 806,560 $ — $ 6,163,765 December 31, 2018 AEC New York AEC BVI AEC Southern Total Segment assets and liabilities: Segment assets Segment assets from continuing operations $ 6,206,780 $ 99,933 $ — $ 6,306,713 Segment assets of discontinued operations — — 917,059 917,059 Segment assets $ 6,206,780 $ 99,993 $ 917,059 $ 7,223,772 Segment liabilities Segment liabilities from continuing operations $ 3,394,637 $ 52,608 $ — $ 3,447,245 Segment liabilities of discontinued operations — — 1,881,404 1,881,404 Segment liabilities $ 3,394,637 $ 52,608 $ 1,881,404 $ 5,328,649 The Company recorded a total gain of $928,475 from disposal of discontinued operation, including current period of operation loss of $366,667 before disposal. Revenues from external customers, and gross profit for each business are as follows: For the nine months ended September 30, 2019 AEC New York AEC BVI Total Segment revenue: Placement advisory $ 1,141,900 $ 122,987 $ 1,264,887 Career advisory 2,548,885 — 2,548,885 Student & Family advisory 887,700 — 887,700 Other advisory 3,000 — 3,000 Total revenue from continued operations $ 4,581,485 $ 122,987 $ 4,704,472 Total revenue from discontinued operations — — — Gross profit $ 1,945,284 $ 110,112 $ 2,055,396 For the three months ended September 30, 2019 AEC New York AEC BVI Total Segment revenue: Placement advisory $ 343,100 $ 89,271 $ 432,371 Career advisory 731,610 — 731,610 Student & Family advisory 400,700 — 400,700 Other advisory — — — Total revenue from continued operations $ 1,475,410 $ 89,271 $ 1,564,681 Total revenue from discontinued operations — — — Gross profit $ 607,896 $ 76,396 $ 684,292 For the nine months ended September 30, 2018 AEC New York AEC BVI Total Segment revenue: Corporate training & advisory $ — $ — $ — Placement advisory 515,701 — 515,701 Career advisory 1,074,325 1,465 1,075,790 Student & Family advisory 3,410,620 — 3,410,620 Total revenue $ 5,000,646 $ 1,465 $ 5,002,111 Gross profit $ 1,622,885 $ 1,465 $ 1,624,350 For three months ended September 30, 2018 AEC New York AEC BVI Total Segment revenue: Corporate training & advisory $ — $ — $ — Placement advisory 472,825 — 472,825 Career advisory 252,600 1,465 254,065 Student & Family advisory 1,176,420 — 1,176,420 Total revenue $ 1,901,845 $ 1,465 $ 1,903,310 Gross profit $ 540,384 $ 1,465 $ 541,849

DEFERRED COMPENSATION

DEFERRED COMPENSATION	9 Months Ended
	Sep. 30, 2019
DEFERRED COMPENSATION
DEFERRED COMPENSATION	7. DEFERRED COMPENSATION On October 31, 2016 (the “Grant Date”), 1,500,000 shares of common stock of the Company were granted to AEC Southern UK’s CEO which were expected to vest over a three-year period commencing November 1, 2016. The shares were valued using the market price of the Company’s common stock on the grant date of $0.14 per share. On the Grant Date, $210,000 was recognized as deferred compensation, which was expensed over the three-year vesting period using the straight-line method. On December 31, 2017, the remaining deferred compensation was expensed due to the resignation of AEC Southern UK’s CEO. On December 31, 2016, 6,000,000 shares of common stock of the Company were granted to AEC Southern UK’s Chairman which were expected to vest over a three-year period commencing November 1, 2016. The shares were valued using the market price of the Company’s common stock on the grant date of $0.55 per share. On December 31, 2016, $3,300,000 was recognized as deferred compensation, which was expensed over the remaining two year and ten months using the straight-line method. Before the disposal, the remaining deferred compensation was $550,001. Stock compensation expense was $366,664 for the four months before the disposal of AEC Southern UK.

SECURITY DEPOSITS

SECURITY DEPOSITS	9 Months Ended
	Sep. 30, 2019
SECURITY DEPOSITS
SECURITY DEPOSITS	8. SECURITY DEPOSITS The Company has security deposits with the landlord for its New York office and the office in Shenzhen, China of $284,544 and $266,021 as of September 30, 2019 and 2018. As of September 30, 2019, AEC New York has security deposits of $266,021 and AEC Shenzhen has security deposits of $18,523.

INVESTMENTS

INVESTMENTS	9 Months Ended
	Sep. 30, 2019
INVESTMENTS
INVESTMENTS	9. INVESTMENTS Investment Valuation The Company continually reviews its investments to determine whether a decline in fair value below the carrying value is other than temporary. The primary factors the Company considers in its determination are the length of time that the fair value of the investment is below the Company's carrying value; the financial condition, operating performance and the prospects of the equity investee; and other company specific information such as industry data, general economic conditions, cash flows forecasts or any recent financing rounds. If the decline in fair value is deemed to be other than temporary, the carrying value of the equity investee is written down to fair value. On July 10, 2018, the Company issued 100,000 shares of the Company's common stock (the "Consideration Shares") to FIFPAC, Inc., the 100% equity owner of AIFI (the "Seller"), at a purchase price of $0.48 per share, in exchange for a 51% equity ownership in AIFI pursuant to the Purchase Agreement. Please refer to Footnote 16 Business Acquisition.

FIXED ASSET, NET

FIXED ASSET, NET	9 Months Ended
	Sep. 30, 2019
FIXED ASSET, NET
FIXED ASSET, NET	10.FIXED ASSET, NET As of September 30, 2019 and December 31, 2018, fixed asset, net as follows: September 30, December 31, 2019 2018 Electronic equipment $ 4,565 $ — Office furniture 796 — Less: accumulated depreciation (262) — Fixed asset - net $ 5,099 $ — For the three and nine months ended September 30, 2019, amortization expense was $262, and $262 respectively.

INTANGIBLE ASSET, NET

INTANGIBLE ASSET, NET	9 Months Ended
	Sep. 30, 2019
INTANGIBLE ASSET, NET
INTANGIBLE ASSET, NET	11. INTANGIBLE ASSET, NET The Company’s customized online campus system is being amortized on a straight-line basis over four and a half years. The gross carrying amount and accumulated amortization of this asset as of September 30, 2019 and December 31, 2018 are as follows: September 30, December 31, 2019 2018 Intangible asset: online campus system $ 612,814 $ 612,814 Intangible asset: learning platform 120,000 120,000 Less: accumulated amortization (423,542) (312,407) Intangible asset - net $ 309,272 $ 420,407 For the three and nine months ended September 30, 2019 and 2018, amortization expense was $37,045, $111,135 and $37,035, $105,135, respectively. The following table is the future amortization expense to be recognized: Year Ending December 31, 2019 37,046 2020 148,181 2021 46,045 2022 12,000 2022 66,000 Total $ 309,272

DEFERRED REVENUE

DEFERRED REVENUE	9 Months Ended
	Sep. 30, 2019
DEFERRED REVENUE
DEFERRED REVENUE	12. DEFERRED REVENUE The Company receives advance payments for services to be performed and recognizes revenue when services have been rendered. The deferred revenues as of September 30, 2019 and December 31, 2018 were $335,600 and $252,925, respectively.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2019
RELATED-PARTY TRANSACTIONS
RELATED-PARTY TRANSACTIONS	13. RELATED-PARTY TRANSACTIONS The Company’s CEO has a 34% interest in Columbia International College, Inc. (“CIC”). The Company prepaid CIC $96,000 for 2019 student consulting services which are expected to be fully delivered and accounted for in 2019. The Company’s CEO has a 40% interest in Wall Street Innovation Center, Inc. (“WSIC”), a corporation incorporated in the state of New York that focuses on career and business development activities. AEC New York’s Chief Operating Officer currently serves as the President and CEO of WSIC. In the course of delivering career advisory services, the Company has engaged WSIC to assist in certain career development activities. The Company prepaid WSIC $99,628 for business consulting services to be delivered in 2019, which are expected to be completed in 2019. The Company’s CEO received 12,500,000 shares of Series B Convertible Preferred Stock of the Company (“Series B Preferred Stock”), par value $0.001 per share as a reward for his dedicated services to the Company on November 26, 2018. The Company borrowed $419,680 (translated from ¥3,000,000) from a shareholder of the Company during the nine months ended September 30, 2019. The amounts due to this related party were $419,680 as of September 30, 2019. The amounts are non-interest bearing, non-secure and due on demand.

LONG-TERM LOAN

LONG-TERM LOAN	9 Months Ended
	Sep. 30, 2019
LONG-TERM LOAN
LONG-TERM LOAN	14. LONG-TERM LOAN On December 1, 2014, an unrelated party loaned the Company $295,579, with interest at 10%. The Company repaid $150,000 on November 10, 2017. The remaining is to be repaid on December 13, 2019. Interests are to be paid on the last day of each quarter from 2015 to 2019, except for the last payment which shall be made on December 12, 2019. The outstanding balance of the principal was $145,579 as of September 30, 2019. Interest expenses for the three months ended September 30, 2019 and 2018 were $14,558 and $10,918, respectively.

OPERATING LEASE RIGHT-OF-USE AS

OPERATING LEASE RIGHT-OF-USE ASSET / OPERATING LEASE LIABILITY	9 Months Ended
	Sep. 30, 2019
OPERATING LEASE RIGHT-OF-USE ASSET / OPERATING LEASE LIABILITY
OPERATING LEASE RIGHT-OF-USE ASSET / OPERATING LEASE LIABILITY	15. OPERATING LEASE RIGHT-OF-USE ASSET / OPERATING LEASE LIABILITY In December 2014, the Company entered into a lease for 10,086 square feet of office space in New York, NY, with an unrelated party, expiring on July 31, 2025. The lease commenced on March 1, 2015 and the Company received two months of free rent. Due to free rent and escalating monthly rental payments, utilities, real estate taxes, insurance and other operating expenses, the lease is being recognized on a straight-line basis of $34,065 per month for financial statement purposes. We determined the present value of the future lease payments using a discount rate of 8.5%, our incremental borrowing rate based on current SBA loan rate, resulting in an initial right-of-use asset of $2,016,142 and lease liability of $2,237,583, which are being amortized ratably over the term of the lease. In May 2019, the Company entered into a lease of office space in Shenzhen, Guangdong, PRC with an unrelated party, expiring on April 30, 2024. The lease commenced on May 1, 2019. We determined the present value of the future lease payment using a discount rate of 8.5%, our incremental borrowing rate based on current SBA loan rate, resulting in an initial right-of-use asset of $414,157 (RMB2,899,099) and lease liability of $399,048 (RMB2,793,341), which are being amortized ratably over the term of the lease. As September 30, 2019, the amount updated due to foreign currency translation as initial right-of-use asset of $405,565 (RMB2,899,099) and lease liability of $390,770 (RMB2,793,341). As of September 30, 2019, the balance of the right-of-use asset was $2,218,061, and lease liability was $2,460,200 (including $311,883 for current portion and $2,148,317 for noncurrent portion). Rent expense was approximately $133,155, $358,232, and $95,492, $283,370 for the three months and nine months ended September 30, 2019 and 2018, respectively. Future minimum lease commitments are as follows on September 30, 2019: Gross Lease Year Ending December 31, Payment 2019 119,894 2020 510,185 2021 536,426 2022 and thereafter 1,915,327 $ 3,081,832 Less: Present value adjustment (621,632) Operating lease liability $ 2,460,200

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2019
INCOME TAXES
INCOME TAXES	16. INCOME TAXES The component of deferred tax assets at September 30, 2019 and December 31, 2018 are as follows: September 30, December 31, 2019 2018 Net operating loss carryforwards 496,336 727,000 Allowance for bad debt 442,460 432,202 Accelerated Depreciation (38,748) (38,895) Allowance for deferred tax asset (648,120) (692,101) Deferred tax asset, net $ 251,928 $ 428,206 The provision for income taxes and deferred income taxes for the three months and nine months ended September 30, 2019 and 2018 are as follows: For the three months ended September 30, For the nine months ended September 30, 2019 2018 2019 2018 Current: Federal $ (1,013) $ (24,969) $ 43,654 $ — State 4,952 (18,843) 40,488 — Foreign (265) — — 50,762 Total current 3,674 (43,812) 84,142 50,762 Deferred: Federal (61,092) 24,938 103,230 31,232 State (48,238) 11,924 73,048 24,014 Foreign — (36,862) — (106,008) Total deferred (109,330) — 176,278 (50,762) Total $ (105,656) $ (43,812) $ 260,420 $ — The Company conducts business globally and, as a result, files income tax returns in the US federal jurisdiction, state and city, and foreign jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities throughout the world, including jurisdictions in the US. The Company is subject to income tax examinations of US federal, state, and city for 2018, 2017 and 2016 tax years. The Company, to its knowledge, is not currently under examination nor has it been notified by the authorities. A reconciliation of the provision for income taxes, with the amount computed by applying the statutory federal income tax rate for the three months and nine months ended September 30, 2019 and 2018 is as follows: For the three months ended For the nine months ended September 30, September 30, 2019 2018 2019 2018 Tax at federal statutory rate 21.0 % 21.0 % 21.0 % 21.0 % State and local taxes, net of federal benefit 11.0 11.0 11.0 (11.0) Tax impact of foreign operations — 13.3 — (0.9) Non-deductible/ non-taxable items — (10.4) — (9.1) Total 32 % 12.9 % 32 % — %

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2019
FINANCIAL INSTRUMENTS
FINANCIAL INSTRUMENTS	17. FINANCIAL INSTRUMENTS Fair values The Company’s financial instruments from continuing operations approximate include cash and cash equivalents and prepaid expenses and other current assets which approximate to fair value due to their short-term nature and include cash accounts. The Company’s borrowings approximate fair value as the rates of interest are similar to what they would receive from other financial institutions. The carrying amounts of these financial assets and liabilities are a reasonable estimate of their fair values because of their current nature. The Company’s financial instruments from discontinued operations include cash and cash equivalents, net accounts receivable, prepaid expenses and other current assets, accounts payable, accrued expenses and other current liabilities, advance from customers, and income tax payable. The carrying amounts of these financial instruments are a reasonable estimate of their fair values because of their current nature. The following table summarizes the carrying values of the Company’s financial assets and liabilities: September 30, December 31, 2019 2018 Cash and cash equivalents of continuing operations $ 990,073 $ 1,985,133 Accounts receivable, prepaid expenses and other current assets 4,233,897 3,206,946 Other assets of discontinued operations — 917,059 Other financial liabilities (i) 4,015,448 3,225,784 liabilities of discontinued operations $ — $ 1,881,404 (i) The Company classifies its fair value measurements in accordance with the three-level fair value hierarchy as follows: Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities Level 2 – Inputs other than quoted prices that are observable for the asset or liability either directly (i.e. as prices) or indirectly (i.e. derived from prices), and Level 3 – Inputs that are not based on observable market data. The financial assets and liabilities carried at fair value on a recurring basis at September 30, 2019 are as follows: Level 1 Level 2 Level 3 Total Financial Assets Cash and cash equivalents of continuing operations $ 990,073 $ — $ — $ 990,073 Cash and cash equivalents of discontinued operations — — — — Other financial assets of continuing operations — — — — Other financial assets of discontinued operations — — — Total Financial assets $ 990,073 $ — $ — $ 990,073 Financial Liabilities Other liabilities of continuing operations $ 4,015,448 $ — $ — $ 4,015,448 Other liabilities of discontinued operations — — — — Total Financial Liabilities $ 4,015,448 $ — $ — $ 4,015,448 The financial assets and liabilities carried at fair value on a recurring basis at September 30, 2018 are as follows: Level 1 Level 2 Level 3 Total Financial Assets Cash and cash equivalents of continuing operations $ 1,787,564 $ — $ — $ 1,787,564 Cash and cash equivalents of discontinued operations — — — — Other financial assets of continuing operations — — — — Other financial assets of discontinued operations — — — — Total Financial Assets $ 1,787,564 $ — $ — $ 1,787,564 Financial Liabilities Other liabilities of continuing operations $ 3,968,925 $ — $ — $ 3,968,925 Other liabilities of discontinued operations 1,881,404 — — 1,881,404 Total Financial Liabilities $ 5,850,329 $ — $ — $ 5,850,329 Interest rate and credit risk Financial instruments that potentially subject the Company to concentrations of credit risks consist principally of cash and cash equivalents, and net accounts receivable. The Company minimizes the interest rate and credit risk of cash by placing deposits with financial institutions located in the United States and Mainland China. Management believes that there is no significant credit risk arising from the Company’s financial instruments. Financial assets past due The following table provides information regarding the aging of financial assets that are past due, but which are not impaired at September 30, 2019: Less than 90 days to Over Carrying 90 days 1 year 1 year Value Accounts receivable, net $ 1,355,060 $ 2,451,365 $ — $ 3,806,425 Other receivable $ — $ $ — $ Total accounts receivable, net $ 1,355,060 $ $ — $ The Company determines past due amounts by reference to terms agreed with individual clients. None of the net amounts outstanding have been challenged by the respective clients and the Company continues to conduct business with them on an ongoing basis and does not consider its current accounts receivable to be past due.

STOCK OPTIONS

STOCK OPTIONS	9 Months Ended
	Sep. 30, 2019
STOCK OPTIONS
STOCK OPTIONS	18. STOCK OPTIONS The Company did not grant any stock options during the nine months ended September 30, 2019. The following is a summary of stock option activities: Weighted- Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Life Value Outstanding at December 31, 2018 3,200,000 $ 2.45 6.87 years $ — Granted — — — — Exercised — — — — Cancelled and expired — — — — Forfeited — — — — Outstanding at September 30, 2019 3,200,000 $ 2.45 4.12 years $ — Vested and expected to vest at September 30, 2019 2,266,666 $ 3.18 5.14 years $ — Exercisable at September 30, 2019 2,266,666 $ 3.18 5.14 years $ — The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company’s common stock. There were no options exercised during the nine months ended September 30, 2019 and 2018. There was no compensation expense related to any of the options above because the value ascribed to these options was not material.

COMMON STOCK

COMMON STOCK	9 Months Ended
	Sep. 30, 2019
COMMON STOCK
COMMON STOCK	19. COMMON STOCK Certificate of Amendment to Increase Authorized Stock On November 6, 2018, the board of directors of the Company, with the written consent of a majority of the holders of the shares of the Company’s Common Stock issued and outstanding and the Company’s preferred stock issued and outstanding, voting together as a single class, authorized the Company to (i) increase the number of authorized shares of Common Stock from 180,000,000 to 450,000,000 and the number of authorized shares of preferred stock from 20,000,000 to 50,000,000 (the “Authorized Stock Increase”), and (ii) file a Certificate of Amendment with the Secretary of State of the State of Nevada to effect the Authorized Stock Increase. On November 8, 2018, the Company filed a Certificate of Amendment with the Secretary of State of the State of Nevada to effect the Authorized Stock Increase, which became effective upon filing. Stocks issued for business acquisition On July 10, 2018, the Company issued 100,000 shares of the Company’s common stock (the “Consideration Shares”) to FIFPAC, Inc, the 100% equity owner of AIFI, at a purchase price of $0.48 per share, in exchange for 51% equity ownership of the AIFI pursuant to the Purchase Agreement. Refer to Footnote 16 Business Acquisition. Stocks issued to employees and for services In July and August 2018, the Company entered into agreements pursuant to which it issued an aggregate of 448,000 shares of the Company’s common stock to 18 individuals who are either employees of the Company or have been service providers to the Company, for employment-based compensation or services provided, respectively. Subsequently, pursuant to such agreements, the Company issued an aggregate of 433,000 shares of the Company’s common stock to 10 out of the 18 individuals in the amount of $199,840 and 15,000 shares of the Company’s common stock for services rendered in the amount of $7,000, prior to December 31, 2018. In May 2019, the Company entered into agreements pursuant to which it issued an aggregate of 200,000 shares of the Company’s common stock to 4 individuals who have been service providers to the Company for services provided. Stocks issued for cash investment On November 26, 2018, the Company, entered into a Share Issuance Agreement (the “Share Issuance Agreement”) with China Cultural Finance Holdings Company Limited, a British Virgin Islands company and a shareholder of the Company (the “Holder”), whereby the Company agreed to issue 7,199,113 of shares of the Company’s common stock at $0.10 per share, to the Holder in exchange for an RMB5,000,000 investment (the “CCFH Investment”) in the Company’s subsidiary, AEC Southern Shenzhen. The transactions underlying the Share Issuance Agreement were closed on the same day and the shares of common stock were issued to the Holder (the “CCFH Share Issuance”). The Company received $127,606 (HKD 1,000,000) as of September 30, 2019.

SERIES B PREFERRED STOCK

SERIES B PREFERRED STOCK	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
SERIES B PREFERRED STOCK	20 . SERIES B PREFERRED STOCK Designation of Series B Convertible Preferred Stock On November 13, 2018, the Company filed with the Secretary of State of the State of Nevada a Certificate of Designation of Series B Convertible Preferred Stock (the “Certificate of Designation”), which became effective upon filing. The Certificate of Designation established and designated the Series B Convertible Preferred Stock (“Series B Preferred Stock”) and the rights, preferences, privileges, and limitations thereof, summarized in the following: The Company designated 25,000,000 shares as Series B Preferred Stock out of the 50,000,000 unissued shares of preferred stock of the Company, par value $0.001 per share. Series B Preferred Stock is senior in rights of payment, including dividend rights and liquidation preference, to the Company’s common stock but junior to Series A Preferred Stock with respect to liquidation preference. Holders of shares of Series B Preferred Stock are entitled to vote with shareholders of the Company’s common stock, voting together as a single class, except on matters that require a separate vote of the holders of Series B Preferred Stock. In any such vote, each share of Series B Preferred Stock is entitled to 20 votes per share. Each share of Series B Preferred Stock shall, upon the approval of the board of directors of the Company and without the payment of additional consideration by such holder thereof, be convertible into one fully paid and non-assessable share of the Company’s common stock at a conversion price of $1 per share. Manager Share Issuance On November 26, 2018, the Company entered into a Manager Share Issuance Agreement (the “Manager Share Issuance Agreement”) with Mr. Max P. Chen, the Chief Executive Officer, President, and Chairman of the Board of the Company (“Mr. Chen”), whereby the Company agreed to reward Mr. Chen for his dedicated services to the Company by issuing 12,500,000 shares of Series B Preferred Stock to him with resale restrictions. The transactions underlying the Manager Share Issuance Agreement closed on the same day and 12,500,000 shares of Series B Preferred Stock were issued to Mr. Chen. The Company recognized stock compensation expense of $1,250,000 for the year ended December 31, 2018. Stocks issued for exchange agreement On November 26, 2018, the Company entered into an Exchange Agreement (the “Exchange Agreement”) with the Holder, whereby the Company agreed to issue 12,500,000 shares of Series B Convertible Preferred Stock of the Company (“Series B Preferred Stock”), par value $0.001 per share, and 7,500,000 shares of common stock with resale restrictions to the Holder in exchange for 500,000 shares of Series A Convertible Preferred Stock of the Company, par value $0.001 per share (the “Series A Preferred Stock”), held by the Holder. The transactions underlying the Exchange Agreement closed on the same day and 12,500,000 shares of Series B Preferred Stock and 7,500,000 shares of Common Stock were issued to the Holder. The Series A Preferred Stock were returned to the Company and cancelled.

BUSINESS ACQUISITION

BUSINESS ACQUISITION	9 Months Ended
	Sep. 30, 2019
BUSINESS ACQUISITION
BUSINESS ACQUISITION	21. BUSINESS ACQUISITION On July 10, 2018, the Company entered into the Purchase Agreement with the 100% owner of AIFI which closed on the same date. Pursuant to the Purchase Agreement, on July 10, 2018, the Company issued the Consideration Shares to the Seller, for a purchase price of $0.48 per share, in exchange for 51% equity ownership of AIFI. Pursuant to ASC 805, the Company recognized a gain of $13,200 on the effective date of July 10, 2018. According to the Purchase Agreement, the contingent consideration consisted of compensatory arrangement for services to be performed by the owner of the acquiree, and such amounts are to be determined in the future by both parties; therefore, the fair value cannot be determined at the acquisition date. The Company as an acquirer did not recognize a liability at the acquisition date. The following table summarizes the consideration paid and the amounts of net assets acquired as of the date of acquisition: Fair value of net asset acquired (AIFI’s net identified assets) $ 120,000 Less: Fair value of consideration transferred (FMV of AEC’s 100k shares issued) (48,000) Fair value of noncontrolling interest (120k x 49%) (58,800) $ (106,800) Gain on barging purchase $ 13,200

COMMITMENTS & CONTINGENCY

COMMITMENTS & CONTINGENCY	9 Months Ended
	Sep. 30, 2019
COMMITMENTS & CONTINGENCY
COMMITMENTS & CONTINGENCY	22. COMMITMENTS & CONTINGENCY A contingency should be recognized at its acquisition date fair value if that value can be determined. (The guidance in Topic 820 is used to determine fair value). If the acquisition-date fair value of contingency cannot be determined, then an asset or liability is recognized for the contingency if it’s probable at the acquisition date that such asset or liability exists and if its amount is reasonable estimable. A contingency is not recognized for a contingency in the accounting for a business combination if: a) its fair value cannot be determined and b) the probable and reasonably estimate criteria are not met. Instead, the contingency is disclosed and accounted for subsequent to the acquisition date in accordance with Topic 450. Pursuant to the Purchase Agreement, the contingent consideration consisted of compensatory arrangement for services to be performed by the officers of the acquiree, and such amounts are to be determined in the future by both parties; therefore the fair value cannot be determined at the acquisition date. The Company as an acquirer did not recognize a liability at the acquisition date.

GOING CONCERN

GOING CONCERN	9 Months Ended
	Sep. 30, 2019
GOING CONCERN
GOING CONCERN	23. GOING CONCERN Substantial doubt about the Company’s ability to continue as a going concern exists when conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued. Our current operating results indicate that substantial doubt exists related to the Company's ability to continue as a going concern. We believe that the new education platforms acquired may mitigate the substantial doubt raised by our current operating results and satisfying our estimated liquidity needs 12 months from the date of the financial statements. However, we cannot predict, with certainty, the outcome of our actions to generate liquidity, including the availability of additional debt financing, or whether such actions would generate the expected liquidity as currently planned.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	9 Months Ended
	Sep. 30, 2019
SUBSEQUENT EVENT
SUBSEQUENT EVENT	24. SUBSEQUENT EVENT The Company’s management has performed subsequent events procedures through the date the financial statements were available to be issued. There were no subsequent events requiring adjustment to or disclosure in the consolidated financial statements except for the following. On November 11, 2019, the Company borrowed $142,110 (translated from RMB 1,000,000) from a related party for working capital purpose. The aggregate amount due to this related party was $561,790 as of November 11, 2019. The amounts are non-interest bearing, non-secure and due on demand.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Consolidation and Presentation	Basis of Consolidation and Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). These consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. In the opinion of management, all adjustments considered necessary to give a fair presentation have been included. Interim results are not necessarily indicative of full-year results. Certain prior year balances have been reclassified to conform to the current year’s presentation; none of these reclassifications had an impact on reported financial position or cash flows for any of the periods presented. The information in this Form 10‑Q should be read in conjunction with information included in the Company’s annual report on Form 10‑K for the fiscal year ended December 31, 2018 filed with the SEC on April 16, 2019.
Cash	Cash Cash consists of all cash balances and liquid investments with an original maturity of three months or less are considered as cash equivalents.
Accounts Receivable	Accounts Receivable Accounts receivable are carried at net realizable value. The Company maintains an allowance for doubtful accounts, periodically evaluates its accounts receivable balances and makes general and/or specific allowances when there is doubt as to their collectability. In evaluating the collectability of individual receivable balances, the Company considers many factors, including the age of the balances, customers’ historical payment history, their current credit-worthiness and current economic trends. Accounts receivable are written off against the allowance only after exhaustive collection efforts. As of September 30, 2019 and December 31, 2018, the allowance for doubtful accounts was $1,952,458 and $1,189,147 for AEC NY, $0 and $0 for AEC BVI.
Foreign Currency Translation	Foreign Currency Translation The Company’s functional currency is US dollars. The company has two bank accounts located in the PRC. Translation adjustments arising from the use of different exchange rates from period to period are included as a separate component of accumulated other comprehensive income included in statements of changes in stockholders’ equity. Gain and losses from foreign currency transactions are included in the consolidated statements of operations and comprehensive income.
Revenue Recognition	Revenue Recognition The Company adopted ASU No. 2014-09, Topic 606 on January 1, 2018, using the modified retrospective method. ASC 606 requires the use of a new five-step model to recognize revenue from customer contracts. The five-step model requires that the Company (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Company satisfies the performance obligation. AEC New York delivers customized high school and college placement, career advisory as well as student and family services. Fees related to such advisory services that are collected from individuals are generally paid to the Company in advance and they are recorded as deferred revenue. Revenues are recognized proportionally as services are rendered or upon completion. Fees related to our advisory services provided by AEC New York to corporate customers (such as staffing agencies and placement agencies) are generally collected after services are provided, and are recorded as accounts receivable. Prior the disposal of AEC Southern UK on May 1, 2019, AEC Southern UK delivered customized corporate training and advisory services. It received monthly non-refundable retainer payments and recognized revenue as services were rendered. AEC Shenzhen delivers customized high school and college placement and career advisory services. Fees related to such advisory services are generally paid to the Company in advance and they are recorded as deferred revenue. Revenues are recognized proportionally as services are rendered or upon completion. For the three months ended September 30, 2019, approximately 1.4 million, or more than 80%, of the revenue was recorded as accounts receivable and approximately $120,000 of the revenue was realized from deferred revenue.
Intangible Asset	Intangible Asset The Company’s finite-lived intangible asset consists of a customized online campus system that was acquired from a third party. The system is used to provide online training for career advisory services and corporate training and advisory services. The asset was recorded at cost on the acquisition date and is amortized on a straight-line basis over its economic useful life. The Company reviews its finite-lived intangible asset for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of the asset to be held and used is measured by a comparison of the carrying amount of an asset to its undiscounted future net cash flows expected to be generated by the asset. If such asset is not recoverable, a potential impairment loss is recognized to the extent the carrying amount of the asset exceeds its fair value. Fair value is generally determined using a discounted cash flow approach.
Stock-Based Compensation	S tock-Based Compensation The Company uses the fair value-based method for stock issued for services rendered and therefore all awards to employees and non-employees will be recorded at the market price on the date of the grant and expensed over the required period of services to be rendered. The fair value of stock options issued to third party consultants and to employees, officers and directors are recorded in accordance with the measurement and recognition criteria of FASB ASC 505‑50, “Equity-Based Payments to Non-Employees” and FASB ASC 718, “Compensation – Stock Based Compensation,” respectively. The options are valued using the Black-Scholes valuation model. This model is affected by the Company’s stock price as well as assumptions regarding a number of subjective variables. These subjective variables include but are not limited to the Company’s expected stock price volatility over the expected term of the awards, and actual and projected stock option and warrant exercise behaviors and forfeitures.
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with FASB ASC 740, “Income Taxes,” which requires the recognition of deferred income taxes for differences between the basis of assets and liabilities for financial statement and income tax purposes. Deferred tax assets and liabilities represent the future tax consequences for those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled. Deferred taxes are also recognized for operating losses that are available to offset future taxable income. A valuation allowance is established when necessary to reduce deferred tax assets to the amount expected to be realized. ASC 740 also addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under ASC 740, the Company may recognize the tax benefit from an uncertain tax position only if it is “more likely than not” that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position would be measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. ASC 740 also provides guidance on derecognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, and accounting for interest and penalties associated with tax positions. At September 30, 2019 and December 31, 2018, the Company does not have a liability for any unrecognized tax benefits. The income tax laws of various jurisdictions in which the Company and its subsidiaries operate are summarized as follows: United States (“US”) On December 22, 2017, the U.S. Tax Cuts and Jobs Act (TCJA) was signed into law. The TCJA results in significant revisions to the U.S. corporate income tax system, including a reduction in the U.S. corporate income tax rate, implementation of a territorial system and a one-time deemed repatriation tax on untaxed foreign earnings. Generally, the impacts of the new legislation would be required to be recorded in the period of enactment. The Company is subject to Federal corporate income tax in the US at 21%. Provisions for income taxes for the United States have been made for the nine months ended September 30, 2019. United Kingdom (“UK”) According to current England and Wales income tax law, resident companies are taxable in the United Kingdom on their worldwide profits and subject to an opt-out for non-UK permanent establishments (PEs), while non-resident companies are subject to UK corporation tax only on the trading profits attributable to a UK PE, or the trading profits attributable to a trading of dealing in or developing UK land, plus UK income tax on any other UK source income. AEC Southern UK was formed in the United Kingdom and is governed by the income tax laws of England and Wales. On May 1, 2019, the Company sold 100% of the equity interests in AEC Southern UK to three individuals and AEC Southern UK is no longer a subsidiary of the Company. Since AEC Southern UK had no PEs in the UK as of May 1, 2019 and had no UK-source income during 2018, the Company is not subject to tax on non-UK source income. British Virgin Island (“BVI”) According to BVI corporate taxation, there is a zero-rated income tax regime for all BVI-domiciled corporate entities, and there is no concept of residence applicable to BVI corporate taxation. AEC BVI was incorporated in the BVI and is governed by the laws of the BVI. Hong Kong AEC Southern HK was formed in Hong Kong. Pursuant to the income tax laws of Hong Kong, the Company is not subject to tax on non-Hong Kong source income. The People’s Republic of China (“PRC”) AEC Southern Shenzhen was incorporated in the PRC. Pursuant to the income tax laws of China, the Company is not subject to tax on non-China source income. The Company is subject to corporate tax in China at 25% for the net taxable income. AEC Southern Shenzhen has no income tax for the nine months ended September 30, 2019 due to the net operating loss for the period. The provisions of ASC 740‑10‑25, “Accounting for Uncertainty in Income Taxes,” prescribe a more-likely-than-not threshold for consolidated financial statement recognition and measurement of a tax position taken (or expected to be taken) in a tax return. This ASC also provides guidance on the recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, and related disclosures.
Fair Value Measurements	Fair Value Measurements FASB ASC 820, “Fair Value Measurement,” specifies a hierarchy of valuation techniques based upon whether the inputs to those valuation techniques reflect assumptions other market participants would use based upon market data obtained from independent sources (observable inputs). In accordance with ASC 820, the following summarizes the fair value hierarchy: Level 1 Inputs – Unadjusted quoted market prices for identical assets and liabilities in an active market that the Company has the ability to access. Level 2 Inputs – Inputs other than the quoted prices in active markets that are observable either directly or indirectly. Level 3 Inputs – Inputs based on prices or valuation techniques that are both unobservable and significant to the overall fair value measurements. FASB ASC 820 requires the use of observable market data, when available, in making fair value measurements. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. The Company did not identify any assets or liabilities that are required to be presented at fair value on a recurring basis. Non-derivative financial instruments include cash, accounts receivable, prepaid expenses, accounts payable and accrued expenses, taxes payable, and loan from stockholders. As of September 30, 2019 and December 31, 2018, the carrying values of these financial instruments approximated their fair values due to their short-term nature.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
Earnings (Loss) per Share	Earnings (Loss) per Share Earnings (loss) per share is calculated in accordance with FASB ASC 260, “ Earnings Per Share .” Basic earnings (loss) per share is based upon the weighted average number of common shares outstanding during the period. Diluted earnings per share is based on the assumption that all dilutive convertible shares and stock options are converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Options and warrants are only dilutive when the average market price of the underlying common stock exceeds the exercise price of the options or warrants because it is unlikely they would be exercised if the exercise price were higher than the market price.
Noncontrolling interest	Noncontrolling interest According to Financial Accounting Standards Board (FASB) Statement No. 160, the noncontrolling interest shall be reported in the consolidated statement of financial position within equity, separately from the parent’s equity. That amount shall be clearly identified and labeled, for example, as noncontrolling interest in subsidiaries. An entity with noncontrolling interests in more than one subsidiary may present those interests in aggregate in the consolidated financial statements。
Bargain Purchase	Bargain Purchase According to Financial Accounting Standards Board (FASB) Statement No. 141 (revised 2007), a barging purchase is defined as a business combination in which the total acquisition-date fair value of the identifiable net assets acquired exceeds the fair value of the consideration transferred plus any noncontrolling interest in the acquiree, and it requires the acquirer to recognize that excess in earnings as a gain attributable to the acquire.
Contingent Consideration	Contingent Consideration The Company recognizes the fair value of any contingent consideration that is transferred to the seller in a business combination on the date at which control of the acquiree is obtained. This value is generally determined through a probability-weighted analysis of the expected cash flows. Contingent consideration is classified as a liability or as equity on the basis of the definitions of an equity instrument and a financial liability. The contingent consideration is payable in cash and, accordingly, the Company classified its contingent consideration as a liability. It is not remeasured, and any gain or loss on settlement at an amount different from its carrying value will be recognized in net income in the period during which it is settled.
Leases	Leases On January 1, 2019, the Company adopted Accounting Standards Update No. 2016‑02, Leases (Topic 842) (ASU 2016‑02), as amended, which supersedes the lease accounting guidance under Topic 840, and generally requires lessees to recognize operating and financing lease liabilities and corresponding right-of-use (ROU) assets on the balance sheet and to provide enhanced disclosures surrounding the amount, timing and uncertainty of cash flows arising from leasing arrangements. The Company adopted the new guidance using the modified retrospective transition approach by applying the new standard to all leases existing at the date of initial application and not restating comparative periods. The most significant impact was the recognition of ROU assets and lease liabilities for operating leases, while accounting for finance leases remained substantially unchanged. The Company determined if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets and short- and long-term lease liabilities in our consolidated balance sheets. Finance leases are included in property and equipment, other current liabilities, and other long-term liabilities in our consolidated balance sheets. As of adoption of ASC 842 and as of January 1, 2019, the Company was not a party to finance lease arrangements. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the leases do not provide an implicit rate, the Company use the industry incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company use the implicit rate when readily determinable. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. The lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Under the available practical expedient, the Company account for the lease and non-lease components as a single lease component. Adoption of the standard resulted in the initial recognition of $2,016,142 of ROU assets and $2,237,583 of lease liabilities on our consolidated balance sheet at adoption on January 1, 2019 related to office space lease commitment on March 1, 2015. The difference of $221,441 represented deferred rent for leases that existed as of the date of adoption, which was an offset to the opening balance of right-of-use assets. The adoption of the standard on January 1, 2019 did not have a material impact on our consolidated statements of income, stockholders’ equity and cash flows.

CONCENTRATION OF CREDIT AND B_2

CONCENTRATION OF CREDIT AND BUSINESS RISK (Tables)	9 Months Ended
	Sep. 30, 2019
CONCENTRATION OF CREDIT AND BUSINESS RISK
Schedule of major customers that individually accounted for more than 10% of gross revenue	The following table represents major customers that individually accounted for more than 10% of the Company’s gross revenue for the nine months ended September 30, 2019 and 2018: 2019 Gross Accounts Revenue Percentage Receivable Percentage Customer 1 $ 2,223,080 47.3 % $ 1,976,639 34.3 % Customer 2 $ 1,141,900 24.3 % 1,723,520 29.9 % 2018 Gross Accounts Revenue Percentage Receivable Percentage Customer 1 $ 1,490,120 29.8 % $ 626,812 17.4 % Customer 2 1,067,300 21.3 % 1,215,140 33.6 % Customer 3 535,200 10.7 % 84,700 2.3 %

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	9 Months Ended
	Sep. 30, 2019
DISCONTINUED OPERATIONS
Schedule of amount of the major classes of assets and liabilities of discontinued operation	The carrying amount of the major classes of assets and liabilities of discontinued operation as of May 1, 2019 and December 31, 2018 consist of the following: May 1, 2019 December 31, 2018 Assets of discontinued operation: Current assets: Cash and cash equivalents $ 391 $ 391 Accounts receivable 4,864,297 4,595,823 Allowance for doubtful account (4,595,823) (4,595,823) Deferred compensation 550,001 916,668 Total assets of discontinued operation $ 818,866 $ 917,059 Liabilities of discontinued operation: $ — Current liabilities: Accounts payable $ 1,881,404 $ 1,881,404 Other payables — — Total liabilities of discontinued operation $ 1,881,404 $ 1,881,404
Schedule of operating result discontinued operation included in consolidated statements of operation	The summarized operating result of discontinued operation included in the Company’s consolidated statements of operation consist of the following: From January 1 to May 1, 2019 Revenues $ — Cost of revenues — Gross profit — Operating expenses (366,667) Other income (expenses), net — Loss before income tax (366,667) Income tax expense — Loss from discontinued operation (366,667) Total loss from discontinued operations, net of income taxes $ (366,667)

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Sep. 30, 2019
SEGMENT REPORTING
Schedule of segment reporting assets and liabilities	The following table shows an analysis by segment of the assets and liabilities of continuing and discontinued operations as of September 30, 2019 and December 31, 2018: September 30, 2019 AEC New York AEC BVI AEC Southern Total Segment assets and liabilities: Segment assets Segment assets from continuing operations $ 7,518,712 $ 774,162 $ — $ 8,292,874 Segment assets of discontinued operations — — — — Segment assets $ 7,518,712 $ 774,162 $ — $ 8,292,874 Segment liabilities Segment liabilities from continuing operations $ 5,357,205 $ 806,560 $ — $ 6,163,765 Segment liabilities of discontinued operations — — — — Segment liabilities $ 5,357,205 $ 806,560 $ — $ 6,163,765 December 31, 2018 AEC New York AEC BVI AEC Southern Total Segment assets and liabilities: Segment assets Segment assets from continuing operations $ 6,206,780 $ 99,933 $ — $ 6,306,713 Segment assets of discontinued operations — — 917,059 917,059 Segment assets $ 6,206,780 $ 99,993 $ 917,059 $ 7,223,772 Segment liabilities Segment liabilities from continuing operations $ 3,394,637 $ 52,608 $ — $ 3,447,245 Segment liabilities of discontinued operations — — 1,881,404 1,881,404 Segment liabilities $ 3,394,637 $ 52,608 $ 1,881,404 $ 5,328,649
Schedule of segment reporting revenue from external customers	Revenues from external customers, and gross profit for each business are as follows: For the nine months ended September 30, 2019 AEC New York AEC BVI Total Segment revenue: Placement advisory $ 1,141,900 $ 122,987 $ 1,264,887 Career advisory 2,548,885 — 2,548,885 Student & Family advisory 887,700 — 887,700 Other advisory 3,000 — 3,000 Total revenue from continued operations $ 4,581,485 $ 122,987 $ 4,704,472 Total revenue from discontinued operations — — — Gross profit $ 1,945,284 $ 110,112 $ 2,055,396 For the three months ended September 30, 2019 AEC New York AEC BVI Total Segment revenue: Placement advisory $ 343,100 $ 89,271 $ 432,371 Career advisory 731,610 — 731,610 Student & Family advisory 400,700 — 400,700 Other advisory — — — Total revenue from continued operations $ 1,475,410 $ 89,271 $ 1,564,681 Total revenue from discontinued operations — — — Gross profit $ 607,896 $ 76,396 $ 684,292 For the nine months ended September 30, 2018 AEC New York AEC BVI Total Segment revenue: Corporate training & advisory $ — $ — $ — Placement advisory 515,701 — 515,701 Career advisory 1,074,325 1,465 1,075,790 Student & Family advisory 3,410,620 — 3,410,620 Total revenue $ 5,000,646 $ 1,465 $ 5,002,111 Gross profit $ 1,622,885 $ 1,465 $ 1,624,350 For three months ended September 30, 2018 AEC New York AEC BVI Total Segment revenue: Corporate training & advisory $ — $ — $ — Placement advisory 472,825 — 472,825 Career advisory 252,600 1,465 254,065 Student & Family advisory 1,176,420 — 1,176,420 Total revenue $ 1,901,845 $ 1,465 $ 1,903,310 Gross profit $ 540,384 $ 1,465 $ 541,849

FIXED ASSETS, NET (Tables)

FIXED ASSETS, NET (Tables)	9 Months Ended
	Sep. 30, 2019
FIXED ASSET, NET
Schedule of Fixed asset net	As of September 30, 2019 and December 31, 2018, fixed asset, net as follows: September 30, December 31, 2019 2018 Electronic equipment $ 4,565 $ — Office furniture 796 — Less: accumulated depreciation (262) — Fixed asset - net $ 5,099 $ —

INTANGIBLE ASSET, NET (Tables)

INTANGIBLE ASSET, NET (Tables)	9 Months Ended
	Sep. 30, 2019
INTANGIBLE ASSET, NET
Schedule of gross carrying amount and accumulated amortization	The gross carrying amount and accumulated amortization of this asset as of September 30, 2019 and December 31, 2018 are as follows: September 30, December 31, 2019 2018 Intangible asset: online campus system $ 612,814 $ 612,814 Intangible asset: learning platform 120,000 120,000 Less: accumulated amortization (423,542) (312,407) Intangible asset - net $ 309,272 $ 420,407
Schedule of future amortization expense to be recognized	The following table is the future amortization expense to be recognized: Year Ending December 31, 2019 37,046 2020 148,181 2021 46,045 2022 12,000 2022 66,000 Total $ 309,272

OPERATING LEASE RIGHT-OF-USE _2

OPERATING LEASE RIGHT-OF-USE ASSET / OPERATING LEASE LIABILITY (Tables)	9 Months Ended
	Sep. 30, 2019
OPERATING LEASE RIGHT-OF-USE ASSET / OPERATING LEASE LIABILITY
Schedule of future minimum lease commitments	Future minimum lease commitments are as follows on September 30, 2019: Gross Lease Year Ending December 31, Payment 2019 119,894 2020 510,185 2021 536,426 2022 and thereafter 1,915,327 $ 3,081,832 Less: Present value adjustment (621,632) Operating lease liability $ 2,460,200

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2019
INCOME TAXES
Schedule of component of deferred tax assets	The component of deferred tax assets at September 30, 2019 and December 31, 2018 are as follows: September 30, December 31, 2019 2018 Net operating loss carryforwards 496,336 727,000 Allowance for bad debt 442,460 432,202 Accelerated Depreciation (38,748) (38,895) Allowance for deferred tax asset (648,120) (692,101) Deferred tax asset, net $ 251,928 $ 428,206
Schedule of provision for income taxes and deferred income taxes	The provision for income taxes and deferred income taxes for the three months and nine months ended September 30, 2019 and 2018 are as follows: For the three months ended September 30, For the nine months ended September 30, 2019 2018 2019 2018 Current: Federal $ (1,013) $ (24,969) $ 43,654 $ — State 4,952 (18,843) 40,488 — Foreign (265) — — 50,762 Total current 3,674 (43,812) 84,142 50,762 Deferred: Federal (61,092) 24,938 103,230 31,232 State (48,238) 11,924 73,048 24,014 Foreign — (36,862) — (106,008) Total deferred (109,330) — 176,278 (50,762) Total $ (105,656) $ (43,812) $ 260,420 $ —
Schedule of reconciliation of the provision for income taxes	A reconciliation of the provision for income taxes, with the amount computed by applying the statutory federal income tax rate for the three months and nine months ended September 30, 2019 and 2018 is as follows: For the three months ended For the nine months ended September 30, September 30, 2019 2018 2019 2018 Tax at federal statutory rate 21.0 % 21.0 % 21.0 % 21.0 % State and local taxes, net of federal benefit 11.0 11.0 11.0 (11.0) Tax impact of foreign operations — 13.3 — (0.9) Non-deductible/ non-taxable items — (10.4) — (9.1) Total 32 % 12.9 % 32 % — %

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2019
FINANCIAL INSTRUMENTS
Schedule of carrying value financial assets and liabilities	September 30, December 31, 2019 2018 Cash and cash equivalents of continuing operations $ 990,073 $ 1,985,133 Accounts receivable, prepaid expenses and other current assets 4,233,897 3,206,946 Other assets of discontinued operations — 917,059 Other financial liabilities (i) 4,015,448 3,225,784 liabilities of discontinued operations $ — $ 1,881,404 (i)
Schedule of financial assets and liabilities carried at fair value on a recurring basis	The financial assets and liabilities carried at fair value on a recurring basis at September 30, 2019 are as follows: Level 1 Level 2 Level 3 Total Financial Assets Cash and cash equivalents of continuing operations $ 990,073 $ — $ — $ 990,073 Cash and cash equivalents of discontinued operations — — — — Other financial assets of continuing operations — — — — Other financial assets of discontinued operations — — — Total Financial assets $ 990,073 $ — $ — $ 990,073 Financial Liabilities Other liabilities of continuing operations $ 4,015,448 $ — $ — $ 4,015,448 Other liabilities of discontinued operations — — — — Total Financial Liabilities $ 4,015,448 $ — $ — $ 4,015,448 The financial assets and liabilities carried at fair value on a recurring basis at September 30, 2018 are as follows: Level 1 Level 2 Level 3 Total Financial Assets Cash and cash equivalents of continuing operations $ 1,787,564 $ — $ — $ 1,787,564 Cash and cash equivalents of discontinued operations — — — — Other financial assets of continuing operations — — — — Other financial assets of discontinued operations — — — — Total Financial Assets $ 1,787,564 $ — $ — $ 1,787,564 Financial Liabilities Other liabilities of continuing operations $ 3,968,925 $ — $ — $ 3,968,925 Other liabilities of discontinued operations 1,881,404 — — 1,881,404 Total Financial Liabilities $ 5,850,329 $ — $ — $ 5,850,329
Schedule of financial assets past due	Less than 90 days to Over Carrying 90 days 1 year 1 year Value Accounts receivable, net $ 1,355,060 $ 2,451,365 $ — $ 3,806,425 Other receivable $ — $ $ — $ Total accounts receivable, net $ 1,355,060 $ $ — $

STOCK OPTIONS (Tables)

STOCK OPTIONS (Tables)	9 Months Ended
	Sep. 30, 2019
STOCK OPTIONS
Schedule of stock option activities	The following is a summary of stock option activities: Weighted- Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Life Value Outstanding at December 31, 2018 3,200,000 $ 2.45 6.87 years $ — Granted — — — — Exercised — — — — Cancelled and expired — — — — Forfeited — — — — Outstanding at September 30, 2019 3,200,000 $ 2.45 4.12 years $ — Vested and expected to vest at September 30, 2019 2,266,666 $ 3.18 5.14 years $ — Exercisable at September 30, 2019 2,266,666 $ 3.18 5.14 years $ —

BUSINESS ACQUISITION (Tables)

BUSINESS ACQUISITION (Tables)	9 Months Ended
	Sep. 30, 2019
BUSINESS ACQUISITION
Schedule of consideration paid and the amounts of net assets acquired	The following table summarizes the consideration paid and the amounts of net assets acquired as of the date of acquisition: Fair value of net asset acquired (AIFI’s net identified assets) $ 120,000 Less: Fair value of consideration transferred (FMV of AEC’s 100k shares issued) (48,000) Fair value of noncontrolling interest (120k x 49%) (58,800) $ (106,800) Gain on barging purchase $ 13,200

ORGANIZATION AND BUSINESS (Deta

ORGANIZATION AND BUSINESS (Details)	May 01, 2019shares	Apr. 22, 2019	Oct. 31, 2016USD ($)shares	May 31, 2014shares	Sep. 30, 2019USD ($)segmentshares	Dec. 31, 2018USD ($)	Jul. 13, 2018shares	Mar. 29, 2016CNY (¥)
ORGANIZATION AND BUSINESS
Common Stock, Value, Issued | $					$ 56,797	$ 56,597
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares			1,500,000		100
Equity Method Investment, Ownership Percentage							51.00%
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $			$ 210,000
Common Stock, Capital Shares Reserved for Future Issuance							100,000
Number of Marketing Segments | segment					2
Rongxia Wang [Member]
ORGANIZATION AND BUSINESS
Business Acquisition, Percentage of Voting Interests Acquired			100.00%
AEC New York [Member]
ORGANIZATION AND BUSINESS
Shares Exchanged By Shareholder				200
AEC Nevada [Member]
ORGANIZATION AND BUSINESS
Shares Exchanged By Shareholder				10,563,000
AEC Southern Management Co [Member]
ORGANIZATION AND BUSINESS
Business Acquisition, Percentage of Voting Interests Acquired			100.00%
Qianhai Education Consulting Management Co., Ltd [Member] | Capital Units [Member]
ORGANIZATION AND BUSINESS
Common Stock, Value, Issued | ¥								¥ 5,000,000
AEC Southern UK [Member]
ORGANIZATION AND BUSINESS
Business Acquisition, Percentage of Voting Interests Sold	100.00%	100.00%
Temporary Equity, Shares Outstanding	1,000,000
AEC Southern UK [Member] | AEC Nevada [Member]
ORGANIZATION AND BUSINESS
Temporary Equity, Shares Outstanding	1,000,000

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	May 01, 2019	Apr. 22, 2019	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)	May 31, 2019CNY (¥)	May 31, 2019USD ($)	Jan. 01, 2019USD ($)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21.00%	21.00%			21.00%	21.00%
Allowance for Doubtful Accounts Receivable			$ 1,952,458				$ 1,952,458		$ 1,189,147
Gross Revenue			1,564,681	$ 1,903,310			4,704,472	$ 5,002,111
Percentage					10.00%	10.00%
Operating Lease, Right-of-Use Asset			2,218,061				2,218,061		$ 0	¥ 2,899,099	$ 414,157	$ 2,016,142
Operating Lease, Liability			$ 2,460,200				$ 2,460,200			¥ 2,793,341	$ 399,048	2,237,583
Deferred Rent Credit												$ 221,441
AEC Southern UK [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners			49.00%				49.00%
Percentage of voting interests sold	100.00%	100.00%
UNITED STATES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent									21.00%
Allowance for Doubtful Accounts Receivable			$ 1,952,458				$ 1,952,458		$ 1,189,147
Gross Revenue			1,475,410	1,901,845			4,581,485	5,000,646
BRITISH VIRGIN ISLAND
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Allowance for Doubtful Accounts Receivable			0				0		$ 0
Gross Revenue			89,271	$ 1,465			122,987	$ 1,465
Gross Revenue [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Gross Revenue			$ 1,400,000
Percentage			80.00%
Accounts Receivable [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounts Receivable, Net			$ 120,000				$ 120,000

CONCENTRATION OF CREDIT AND B_3

CONCENTRATION OF CREDIT AND BUSINESS RISK (Details)	3 Months Ended	6 Months Ended
	Sep. 30, 2019HKD ($)	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2019CNY (¥)	Sep. 30, 2019USD ($)
Cash, FDIC Insured Amount					$ 250,000
Cash, Uninsured Amount	$ 500,000			¥ 500,000
Concentration Risk, Percentage		10.00%	10.00%
Cash, DIO Insured Amount					$ 261,103
Gross Revenue [Member]
Concentration Risk, Percentage	80.00%

CONCENTRATION OF CREDIT AND B_4

CONCENTRATION OF CREDIT AND BUSINESS RISK - Customers Gross Revenue (Details) - USD ($)	3 Months Ended		6 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Gross Revenue	$ 1,564,681	$ 1,903,310			$ 4,704,472	$ 5,002,111
Percentage			10.00%	10.00%
Gross Revenue [Member]
Gross Revenue	$ 1,400,000
Percentage	80.00%
Accounts Receivable [Member]
Total accounts receivable	$ 120,000				120,000
Customer 1 [Member] | Gross Revenue [Member]
Gross Revenue					$ 2,223,080	$ 1,490,120
Percentage					47.30%	29.80%
Customer 1 [Member] | Accounts Receivable [Member]
Total accounts receivable	1,976,639	626,812			$ 1,976,639	$ 626,812
Percentage					34.30%	17.40%
Customer 2 [Member] | Gross Revenue [Member]
Gross Revenue					$ 1,141,900	$ 1,067,300
Percentage					24.30%	21.30%
Customer 2 [Member] | Accounts Receivable [Member]
Total accounts receivable	$ 1,723,520	1,215,140			$ 1,723,520	$ 1,215,140
Percentage					29.90%	33.60%
Customer 3 [Member] | Gross Revenue [Member]
Gross Revenue						$ 535,200
Percentage						10.70%
Customer 3 [Member] | Accounts Receivable [Member]
Total accounts receivable		$ 84,700				$ 84,700
Percentage						2.30%

DISCONTINUED OPERATIONS - Class

DISCONTINUED OPERATIONS - Classes of Assets and Liabilities (Details) - USD ($)	Sep. 30, 2019	May 01, 2019	Dec. 31, 2018	Sep. 30, 2018
Current assets:
Cash and cash equivalents	$ 0	$ 391	$ 391	$ 391
Accounts receivable		4,864,297	4,595,823
Allowance for doubtful account		(4,595,823)	(4,595,823)
Deferred compensation		550,001	916,668
Total assets of discontinued operation		818,866	917,059
Current liabilities:
Accounts payable		1,881,404	1,881,404
Other payables		0	0
Total liabilities of discontinued operation		$ 1,881,404	$ 1,881,404

DISCONTINUED OPERATIONS - Summa

DISCONTINUED OPERATIONS - Summarized Operating Result (Details) - USD ($)	3 Months Ended		4 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	May 01, 2019	Sep. 30, 2019	Sep. 30, 2018
DISCONTINUED OPERATIONS
Revenues			$ 0
Cost of revenues			0
Gross profit			0
Operating expenses			(366,667)
Other income (expenses), net			0
Loss before income tax			(366,667)
Income tax expense			0
Loss from discontinued operation	$ 0	$ (1,823,861)	(366,667)	$ 928,475	$ (5,312,402)
Total loss from discontinued operations, net of income taxes			$ (366,667)	$ (366,667)

DISCONTINUED OPERATIONS - Addit

DISCONTINUED OPERATIONS - Additional Disclosure (Details) - AEC Southern UK [Member] - USD ($)	May 01, 2019	May 01, 2019	Apr. 22, 2019	Sep. 30, 2019
Noncontrolling Interest, Description		AEC Nevada sold 100% of the equity interest in AEC Southern UK to three individuals, Ye Tian, Rongxia Wang and Weishou Li, and received a consideration of 1,000,000 shares of outstanding shares of AEC Nevada which was valued at $660,000 and the debt owed to AEC Southern UK in the amount of $268,475 was forgiven by AEC Southern UK.
Business Acquisition Percentage Of Voting Interests Sold	100.00%		100.00%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners				49.00%
Temporary Equity, Shares Outstanding	1,000,000	1,000,000
Temporary Equity, Shares Outstanding Value		$ 660,000
Temporary Equity, Debt Owned	$ 268,475	$ 268,475

SEGMENT REPORTING - Segment ass

SEGMENT REPORTING - Segment assets and liabilities of continuing and discontinued operations (Details)	3 Months Ended		4 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	May 01, 2019USD ($)	Sep. 30, 2019USD ($)segment	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Segment revenue:
Total revenue	$ 1,564,681	$ 1,903,310		$ 4,704,472	$ 5,002,111
Total revenue from discontinued operations			$ 0
Gross profit	684,292	541,849		2,055,396	1,624,350
SEGMENT REPORTING
Segment assets	8,292,874			8,292,874		$ 7,223,772
Segment liabilities	6,163,765			$ 6,163,765		5,328,649
Number of Operating Segments | segment				2
Continuing operations
SEGMENT REPORTING
Segment assets	8,292,874			$ 8,292,874		6,306,713
Segment liabilities	6,163,765			6,163,765		3,447,245
Discontinued operations
SEGMENT REPORTING
Segment assets						917,059
Segment liabilities						1,881,404
UNITED STATES
Segment revenue:
Total revenue	1,475,410	1,901,845		4,581,485	5,000,646
Gross profit	607,896	540,384		1,945,284	1,622,885
SEGMENT REPORTING
Segment assets	7,518,712			7,518,712		6,206,780
Segment liabilities	5,357,205			5,357,205		3,394,637
UNITED STATES | Continuing operations
SEGMENT REPORTING
Segment assets	7,518,712			7,518,712		6,206,780
Segment liabilities	5,357,205			5,357,205		3,394,637
BRITISH VIRGIN ISLAND
Segment revenue:
Total revenue	89,271	1,465		122,987	1,465
Gross profit	76,396	1,465		110,112	1,465
SEGMENT REPORTING
Segment assets	774,162			774,162		99,993
Segment liabilities	806,560			806,560		52,608
BRITISH VIRGIN ISLAND | Continuing operations
SEGMENT REPORTING
Segment assets	774,162			774,162		99,933
Segment liabilities	806,560			806,560		52,608
UNITED KINGDOM
SEGMENT REPORTING
Segment assets						917,059
Segment liabilities						1,881,404
UNITED KINGDOM | Discontinued operations
SEGMENT REPORTING
Segment assets						917,059
Segment liabilities						$ 1,881,404
Placement advisory [Member]
Segment revenue:
Total revenue	432,371	472,825		1,264,887	515,701
Placement advisory [Member] | UNITED STATES
Segment revenue:
Total revenue	343,100	472,825		1,141,900	515,701
Placement advisory [Member] | BRITISH VIRGIN ISLAND
Segment revenue:
Total revenue	89,271			122,987
Career advisory [Member]
Segment revenue:
Total revenue	731,610	254,065		2,548,885	1,075,790
Career advisory [Member] | UNITED STATES
Segment revenue:
Total revenue	731,610	252,600		2,548,885	1,074,325
Career advisory [Member] | BRITISH VIRGIN ISLAND
Segment revenue:
Total revenue		1,465			1,465
Student & Family advisory [Member]
Segment revenue:
Total revenue	400,700	1,176,420		887,700	3,410,620
Student & Family advisory [Member] | UNITED STATES
Segment revenue:
Total revenue	$ 400,700	$ 1,176,420		887,700	$ 3,410,620
Other advisory [member]
Segment revenue:
Total revenue				3,000
Other advisory [member] | UNITED STATES
Segment revenue:
Total revenue				$ 3,000

SEGMENT REPORTING - Additional

SEGMENT REPORTING - Additional Information (Details) - USD ($)	4 Months Ended	9 Months Ended
	May 01, 2019	Sep. 30, 2019
SEGMENT REPORTING
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax		$ 928,475
Income Loss From Discontinued Operations	$ (366,667)	$ (366,667)

DEFERRED COMPENSATION (Details)

DEFERRED COMPENSATION (Details) - USD ($)	1 Months Ended	12 Months Ended
	Oct. 31, 2016	Dec. 31, 2018	Dec. 31, 2016	Sep. 30, 2019	Nov. 26, 2018
Share Price		$ 0.66		$ 0.66	$ 0.10
AEC Southern Management Co., Ltd. [Member]
Deferred Compensation Arrangement with Individual, Allocated Share-based Compensation Expense		$ 366,664
AEC Southern Management Co., Ltd. [Member] | Chief Executive Officer [Member]
Deferred Compensation Arrangement with Individual, Shares Issued	1,500,000
Share Price	$ 0.14
Deferred Compensation Arrangement with Individual, Recorded Liability	$ 210,000
AEC Southern Management Co., Ltd. [Member] | Board of Directors Chairman [Member]
Deferred Compensation Arrangement with Individual, Shares Issued			6,000,000
Share Price			$ 0.55
Deferred Compensation Equity			$ 3,300,000	$ 550,001

SECURITY DEPOSITS (Details)

SECURITY DEPOSITS (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
SECURITY DEPOSITS
Deposits Assets, Noncurrent	$ 284,544	$ 266,021
AEC New York [Member]
SECURITY DEPOSITS
Deposits Assets, Noncurrent	266,021
AEC Shenzhen [Member]
SECURITY DEPOSITS
Deposits Assets, Noncurrent	$ 18,523

INVESTMENTS (Details)

INVESTMENTS (Details) - $ / shares	Jul. 10, 2018	Jul. 10, 2018	Jul. 13, 2018
Equity Method Investment, Ownership Percentage			51.00%
American Institute of Financial Intelligence LLC [Member]
Stock Issued During Period, Shares, Acquisitions	100,000	100,000
Equity Method Investment, Ownership Percentage	100.00%	100.00%
Shares Issued, Price Per Share	$ 0.48	$ 0.48
Business Acquisition, Percentage of Voting Interests Acquired	51.00%	51.00%

FIXED ASSETS, NET - Fixed Asset

FIXED ASSETS, NET - Fixed Assets, Net (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation	$ (262)	$ 0
Fixed asset - net	5,099	0
Electronic equipment
Property, Plant and Equipment [Line Items]
Fixed asset - Gross	4,565	0
Office furniture
Property, Plant and Equipment [Line Items]
Fixed asset - Gross	$ 796	$ 0

FIXED ASSETS, NET - Additional

FIXED ASSETS, NET - Additional Information (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
FIXED ASSET, NET
Amortization expense	$ 262	$ 262

INTANGIBLE ASSET, NET - Gross C

INTANGIBLE ASSET, NET - Gross Carrying Amount and Accumulated Amortization (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Less: accumulated amortization	$ (423,542)	$ (312,407)
Intangible asset - net	309,272	420,407
Intangible asset: online campus system
Intangible asset	612,814	612,814
Intangible asset: learning platform
Intangible asset	$ 120,000	$ 120,000

INTANGIBLE ASSET, NET - Future

INTANGIBLE ASSET, NET - Future Amortization Expense (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
INTANGIBLE ASSET, NET
2019	$ 37,046
2020	148,181
2021	46,045
2022	12,000
2022	66,000
Total	$ 309,272	$ 420,407

INTANGIBLE ASSET, NET - Additio

INTANGIBLE ASSET, NET - Additional Disclosure (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2018
INTANGIBLE ASSET, NET
Amortization of Intangible Assets	$ 37,045	$ 111,135	$ 37,035	$ 105,135

DEFERRED REVENUE (Details)

DEFERRED REVENUE (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018
DEFERRED REVENUE
Deferred Revenue, Current	$ 335,600	$ 252,925	$ 252,925

RELATED-PARTY TRANSACTIONS (Det

RELATED-PARTY TRANSACTIONS (Details)	9 Months Ended
	Sep. 30, 2019CNY (¥)	Sep. 30, 2019USD ($)$ / sharesshares	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)$ / sharesshares	Nov. 26, 2018$ / sharesshares	Nov. 13, 2018$ / shares
RELATED-PARTY TRANSACTIONS
Due to Related Parties, Current		$ 145,579		$ 145,579
Prepaid Expense Current		395,934		$ 300,715
Preferred Stock, Par or Stated Value Per Share | $ / shares						$ 0.001
Proceeds from Related Party Debt		$ 547,286	$ 0
Series B Preferred Stock
RELATED-PARTY TRANSACTIONS
Preferred Stock, Shares Issued | shares		25,000,000		0
Preferred Stock, Par or Stated Value Per Share | $ / shares		$ 0.001		$ 0.001	$ 0.001
Series B Preferred Stock | Chief Executive Officer [Member]
RELATED-PARTY TRANSACTIONS
Preferred Stock, Shares Issued | shares					12,500,000
Preferred Stock, Par or Stated Value Per Share | $ / shares					$ 0.001
Student Consulting [Member]
RELATED-PARTY TRANSACTIONS
Prepaid Expense Current		$ 96,000
Business Consulting Services [Member]
RELATED-PARTY TRANSACTIONS
Prepaid Expense Current		$ 99,628
Columbia International College, Inc [Member]
RELATED-PARTY TRANSACTIONS
Related Party Transaction, Rate	34.00%	34.00%
Wall Street Innovation Center, Inc [Member]
RELATED-PARTY TRANSACTIONS
Related Party Transaction, Rate	40.00%	40.00%
Stockholder [Member]
RELATED-PARTY TRANSACTIONS
Due to Related Parties, Current		$ 419,680
Proceeds from Related Party Debt	¥ 3,000,000	$ 419,680

LONG-TERM LOAN (Details)

LONG-TERM LOAN (Details) - USD ($)	Nov. 10, 2017	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Dec. 01, 2014
LONG-TERM LOAN
Long-term Debt, Excluding Current Maturities					$ 295,579
Debt Instrument, Interest Rate, Effective Percentage					10.00%
Repayments of Long-term Debt	$ 150,000
Outstanding loan balance		$ 145,579		$ 145,579
Interest Expense, Debt		$ 14,558	$ 10,918

OPERATING LEASE RIGHT-OF-USE _3

OPERATING LEASE RIGHT-OF-USE ASSET / OPERATING LEASE LIABILITY - Future Minimum Lease Commitments (Details)	Sep. 30, 2019USD ($)	May 31, 2019CNY (¥)	May 31, 2019USD ($)	Jan. 01, 2019USD ($)
OPERATING LEASE RIGHT-OF-USE ASSET / OPERATING LEASE LIABILITY
2019	$ 119,894
2020	510,185
2021	536,426
2022 and thereafter	1,915,327
Total	3,081,832
Less: Present value adjustment	(621,632)
Operating lease liability	$ 2,460,200	¥ 2,793,341	$ 399,048	$ 2,237,583

OPERATING LEASE RIGHT-OF-USE _4

OPERATING LEASE RIGHT-OF-USE ASSET / OPERATING LEASE LIABILITY - Additional Disclosure (Details)	1 Months Ended	3 Months Ended		9 Months Ended
	Dec. 31, 2014ft²	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019CNY (¥)	Sep. 30, 2019USD ($)	May 31, 2019CNY (¥)	May 31, 2019USD ($)	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)
Lessee, Lease, Description [Line Items]
Area of Land | ft²	10,086
Operating Lease, Weighted Average Discount Rate, Percent						8.50%	8.50%	8.50%	8.50%
Operating Lease, Right-of-Use Asset							$ 2,218,061	¥ 2,899,099	$ 414,157	$ 2,016,142	$ 0
Operating Lease, Liability							2,460,200	¥ 2,793,341	$ 399,048	$ 2,237,583
Operating Lease, Liability, Current							311,883				$ 0
Operating Lease, Liability, Noncurrent							2,148,317
Foreign currency translation
Lessee, Lease, Description [Line Items]
Operating Lease, Right-of-Use Asset						¥ 2,899,099	405,565
Operating Lease, Liability						¥ 2,793,341	390,770
SBA Loan [Member]
Lessee, Lease, Description [Line Items]
Operating Lease, Right-of-Use Asset							2,016,142
Operating Lease, Liability							2,237,583
Unrelated Party [Member]
Lessee, Lease, Description [Line Items]
Operating Leases, Rent Expense		$ 133,155	$ 358,232	$ 95,492	$ 283,370
Lease Expiration Date	Jul. 31, 2025
Accrued Lease Rent Expenses							$ 34,065

INCOME TAXES - Component of Def

INCOME TAXES - Component of Deferred Tax Assets (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
INCOME TAXES
Net operating loss carryforwards	$ 496,336	$ 727,000
Allowance for bad debt	442,460	432,202
Accelerated Depreciation	(38,748)	(38,895)
Allowance for deferred tax asset	(648,120)	(692,101)
Deferred tax asset, net	$ 251,928	$ 428,206

INCOME TAXES - Provision For In

INCOME TAXES - Provision For Income Taxes And Deferred Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Current:
Federal	$ (1,013)	$ (24,969)	$ 43,654	$ 0
State	4,952	(18,843)	40,488	0
Foreign	(265)	0	0	50,762
Total Current	3,674	(43,812)	84,142	50,762
Deferred:
Federal	(61,092)	24,938	103,230	31,232
State	(48,238)	11,924	73,048	24,014
Foreign	0	(36,862)	0	(106,008)
Total deferred from continuing operations	(109,330)	0	176,278	(50,762)
Provision for income taxes and deferred income taxes	$ (105,656)	$ (43,812)	$ 260,420	$ 0

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of The Provision For Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
INCOME TAXES
Tax at federal statutory rate	21.00%	21.00%	21.00%	21.00%
State and local taxes, net of federal benefit	11.00%	11.00%	11.00%	(11.00%)
Tax impact of foreign operations	0.00%	13.30%	0.00%	(0.90%)
Non-deductible/ non-taxable items	0.00%	(10.40%)	0.00%	(9.10%)
Total	32.00%	12.90%	32.00%	0.00%

FINANCIAL INSTRUMENTS - Summari

FINANCIAL INSTRUMENTS - Summarizes Carrying values (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Cash and cash equivalents	$ 990,073	$ 1,985,133
Liabilities	4,015,448	3,225,784
Continuing operations
Cash and cash equivalents	990,073	1,985,133
Accounts receivable, prepaid expenses and other current assets	4,233,897	3,206,946
Other financial liabilities	4,015,448	3,225,784
Discontinued operations
Other assets	0	917,059
Liabilities	$ 0	$ 1,881,404

FINANCIAL INSTRUMENTS - Fair Va

FINANCIAL INSTRUMENTS - Fair Value on A Recurring Basis (Details) - Recurring basis - USD ($)	Sep. 30, 2019	Sep. 30, 2018
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	$ 990,073	$ 1,787,564
Liabilities, Fair Value Disclosure
Financial Liabilities Fair Value Disclosure	4,015,448	5,850,329
Continuing operations
Assets, Fair Value Disclosure
Cash and Cash Equivalents, Fair Value Disclosure	990,073	1,787,564
Other Assets, Fair Value Disclosure	0
Liabilities, Fair Value Disclosure
Other Liabilities, Fair Value Disclosure	4,015,448	3,968,925
Discontinued operations
Assets, Fair Value Disclosure
Cash and Cash Equivalents, Fair Value Disclosure	0
Other Assets, Fair Value Disclosure	0
Liabilities, Fair Value Disclosure
Other Liabilities, Fair Value Disclosure	0	1,881,404
Level 1
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	990,073	1,787,564
Liabilities, Fair Value Disclosure
Financial Liabilities Fair Value Disclosure	4,015,448	5,850,329
Level 1 | Continuing operations
Assets, Fair Value Disclosure
Cash and Cash Equivalents, Fair Value Disclosure	990,073	1,787,564
Other Assets, Fair Value Disclosure	0
Liabilities, Fair Value Disclosure
Other Liabilities, Fair Value Disclosure	4,015,448	3,968,925
Level 1 | Discontinued operations
Assets, Fair Value Disclosure
Cash and Cash Equivalents, Fair Value Disclosure	0
Other Assets, Fair Value Disclosure	0
Liabilities, Fair Value Disclosure
Other Liabilities, Fair Value Disclosure	0	$ 1,881,404
Level 2
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	0
Liabilities, Fair Value Disclosure
Financial Liabilities Fair Value Disclosure	0
Level 2 | Continuing operations
Assets, Fair Value Disclosure
Cash and Cash Equivalents, Fair Value Disclosure	0
Other Assets, Fair Value Disclosure	0
Liabilities, Fair Value Disclosure
Other Liabilities, Fair Value Disclosure	0
Level 2 | Discontinued operations
Assets, Fair Value Disclosure
Cash and Cash Equivalents, Fair Value Disclosure	0
Other Assets, Fair Value Disclosure	0
Liabilities, Fair Value Disclosure
Other Liabilities, Fair Value Disclosure	0
Level 3
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	0
Liabilities, Fair Value Disclosure
Financial Liabilities Fair Value Disclosure	0
Level 3 | Continuing operations
Assets, Fair Value Disclosure
Cash and Cash Equivalents, Fair Value Disclosure	0
Other Assets, Fair Value Disclosure	0
Liabilities, Fair Value Disclosure
Other Liabilities, Fair Value Disclosure	0
Level 3 | Discontinued operations
Assets, Fair Value Disclosure
Cash and Cash Equivalents, Fair Value Disclosure	0
Other Assets, Fair Value Disclosure	0
Liabilities, Fair Value Disclosure
Other Liabilities, Fair Value Disclosure	$ 0

FINANCIAL INSTRUMENTS - Financi

FINANCIAL INSTRUMENTS - Financial Assets Past Due (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
FINANCIAL INSTRUMENTS
Accounts receivable, net	$ 3,806,425
Other receivable	31,539
Total accounts receivable, net	3,837,963	$ 2,906,231
Net amounts outstanding	0
Less than 90 days
FINANCIAL INSTRUMENTS
Accounts receivable, net	1,355,060
Total accounts receivable, net	1,355,060
90 days to 1 year
FINANCIAL INSTRUMENTS
Accounts receivable, net	2,451,365
Other receivable	31,539
Total accounts receivable, net	2,482,904
Over 1 year
FINANCIAL INSTRUMENTS
Accounts receivable, net	0
Other receivable	0
Total accounts receivable, net	$ 0

STOCK OPTIONS (Details)

STOCK OPTIONS (Details) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
STOCK OPTIONS
Shares, Outstanding at Beginning	3,200,000
Shares, Granted	0
Shares, Exercised	0	0
Shares, Cancelled and expired	0
Shares, Forfeited	0
Shares, Outstanding at Ending	3,200,000		3,200,000
Shares, Vested and expected to vest at March 31, 2019	2,266,666
Shares, Exercisable at March 31, 2019	2,266,666
Weighted Average Exercise, Outstanding at Beginning	$ 2.45
Weighted Average Exercise Price, Granted	0
Weighted Average Exercise Price, Exercised	0
Weighted Average Exercise Price, Cancelled and expired	0
Weighted Average Exercise Price, Forfeited	0
Weighted Average Exercise Price, Outstanding at Ending	2.45		$ 2.45
Weighted Average Exercise Price, Vested and expected to vest at March 31, 2019	3.18
Weighted Average Exercise Price, Exercisable at March 31, 2019	$ 3.18
Weighted- Average Remaining Contractual Life, Outstanding	4 years 1 month 13 days		6 years 10 months 13 days
Weighted- Average Remaining Contractual Life, Vested and expected to vest at March 31, 2019	5 years 1 month 21 days
Weighted- Average Remaining Contractual Life, Exercisable at March 31, 2019	5 years 1 month 21 days
Aggregate Intrinsic Value, Outstanding	$ 0		$ 0
Aggregate Intrinsic Value, Vested and expected to vest at March 31, 2019	0
Aggregate Intrinsic Value, Exercisable at March 31, 2019	$ 0

COMMON STOCK (Details)

COMMON STOCK (Details)	Jul. 10, 2018$ / sharesshares	Jul. 10, 2018USD ($)$ / sharesshares	May 31, 2019shares	Aug. 31, 2018USD ($)shares	Aug. 31, 2018shares	Sep. 30, 2019USD ($)$ / sharesshares	Jun. 30, 2019USD ($)	Sep. 30, 2019HKD ($)	Sep. 30, 2019USD ($)$ / sharesshares	Dec. 31, 2018$ / sharesshares	Nov. 26, 2018CNY (¥)shares	Nov. 26, 2018$ / shares	Nov. 06, 2018shares	Jul. 13, 2018
SERIES B PREFERRED STOCK
Equity Method Investment, Ownership Percentage														51.00%
Stock To Be Issued During Period Shares Issued for Services And Employees		433,000		15,000	448,000
Stock To Be Issued During Period Shares Issued for Services			200,000
Stock to be Issued During Period Value Issued for Services and Employees | $		$ 199,840		$ 7,000
Stock Issued During Period, Value, New Issues | $						$ (16,376)	$ 143,982
Common Stock, Shares Authorized						450,000,000			450,000,000	450,000,000			450,000,000
Preferred Stock, Shares Authorized													50,000,000
Treasury stock at cost (in dollars per share) | $ / shares						$ 0.66			$ 0.66	$ 0.66		$ 0.10
Previously Reported [Member]
SERIES B PREFERRED STOCK
Common Stock, Shares Authorized													180,000,000
Preferred Stock, Shares Authorized													20,000,000
CCFH Investment [Member] | Share Issuance Agreement [Member]
SERIES B PREFERRED STOCK
Equity Method Investments | ¥											¥ 5,000,000
Consideration received upon issuance of common stock								$ 1,000,000	$ 127,606
American Institute of Financial Intelligence LLC [Member]
SERIES B PREFERRED STOCK
Shares Issued, Price Per Share | $ / shares	$ 0.48	$ 0.48
Equity Method Investment, Ownership Percentage	100.00%	100.00%
Business Acquisition, Percentage of Voting Interests Acquired	51.00%	51.00%
Stock Issued During Period, Shares, Acquisitions	100,000	100,000
American Institute of Financial Intelligence LLC [Member] | FIFPAC Inc [Member]
SERIES B PREFERRED STOCK
Equity Method Investment, Ownership Percentage	100.00%	100.00%
China Cultural Finance Holdings Company Limited [Member] | Share Issuance Agreement [Member]
SERIES B PREFERRED STOCK
Number of shares agree to issue											7,199,113

SERIES B PREFERRED STOCK (Detai

SERIES B PREFERRED STOCK (Details) - USD ($)	Nov. 13, 2018	Nov. 26, 2018	Dec. 31, 2018	Sep. 30, 2019
SERIES B PREFERRED STOCK
Common Stock, Shares, Issued			56,597,113	56,597,113
Preferred Stock, Shares Subscribed but Unissued	25,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001
Preferred Stock Convertible Conversion price	$ 1
Preferred Stock, Voting Rights	Holders of shares of Series B Preferred Stock are entitled to vote with shareholders of the Company's common stock, voting together as a single class, except on matters that require a separate vote of the holders of Series B Preferred Stock. In any such vote, each share of Series B Preferred Stock is entitled to 20 votes per share.
Mr Max P Chen [Member]
SERIES B PREFERRED STOCK
Share-based Compensation			$ 1,250,000
Exchange Agreement [Member]
SERIES B PREFERRED STOCK
Common Stock, Shares, Issued		7,500,000
Convertible Preferred Stock, Shares Reserved for Future Issuance		7,500,000
Series B Preferred Stock
SERIES B PREFERRED STOCK
Preferred Stock, Shares Issued			0	25,000,000
Preferred Stock, Shares Subscribed but Unissued	50,000,000
Preferred Stock, Par or Stated Value Per Share		$ 0.001	$ 0.001	$ 0.001
Series B Preferred Stock | Chief Executive Officer [Member]
SERIES B PREFERRED STOCK
Preferred Stock, Shares Issued		12,500,000
Preferred Stock, Par or Stated Value Per Share		$ 0.001
Issuance of common stock for services (in shares)		12,500,000
Series B Preferred Stock | Exchange Agreement [Member]
SERIES B PREFERRED STOCK
Stock Issued During Period, Shares, New Issues		12,500,000
Convertible Preferred Stock, Shares Reserved for Future Issuance		12,500,000
Series A Preferred Stock
SERIES B PREFERRED STOCK
Preferred Stock, Par or Stated Value Per Share		$ 0.001
Series A Preferred Stock | Exchange Agreement [Member]
SERIES B PREFERRED STOCK
Convertible Preferred Stock Number of Shares Converted		500,000

BUSINESS ACQUISITION - Consider

BUSINESS ACQUISITION - Consideration Paid And The Amounts of Net Assets Acquired (Details) - USD ($)	1 Months Ended	9 Months Ended
	Oct. 31, 2016	Sep. 30, 2019	Sep. 30, 2018
BUSINESS ACQUISITION
Fair value of net asset acquired (AIFI's net identified assets)		$ 120,000
Fair value of consideration transferred (FMV of AEC's 100k shares issued)		(48,000)
Fair value of noncontrolling interest (120k x 49%)		(58,800)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest		(106,800)
Gain on barging purchase		$ 13,200	$ 13,200
Number of shares issued	1,500,000	100
AEC Southern UK [Member]
BUSINESS ACQUISITION
Percentage of noncontrolling interest		49.00%

BUSINESS ACQUISITION - Addition

BUSINESS ACQUISITION - Additional Disclosure (Details) - USD ($)	Jul. 10, 2018	Sep. 30, 2019	Sep. 30, 2018	Jul. 13, 2018
Equity Method Investment, Ownership Percentage				51.00%
Business Combination, Bargain Purchase, Gain Recognized, Amount		$ 13,200	$ 13,200
American Institute of Financial Intelligence LLC [Member]
Equity Method Investment, Ownership Percentage	100.00%
Shares Issued, Price Per Share	$ 0.48
Business Acquisition, Percentage of Voting Interests Acquired	51.00%
Business Combination, Bargain Purchase, Gain Recognized, Amount	$ 13,200
American Institute of Financial Intelligence LLC [Member] | FIFPAC Inc [Member]
Equity Method Investment, Ownership Percentage	100.00%

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details)	Nov. 11, 2019CNY (¥)	Nov. 11, 2019USD ($)	Sep. 30, 2019CNY (¥)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Proceeds from Related Party Debt				$ 547,286	$ 0
Due to Related Parties, Current				145,579		$ 145,579
Stockholder [Member]
Proceeds from Related Party Debt			¥ 3,000,000	419,680
Due to Related Parties, Current				$ 419,680
Subsequent Event [Member] | Stockholder [Member]
Proceeds from Related Party Debt	¥ 1,000,000	$ 142,110
Due to Related Parties, Current		$ 561,790