Summary of Significant Accounting Policies (Details Textual) |
3 Months Ended | 9 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Dec. 04, 2013 |
May 03, 2012 |
Sep. 30, 2019
USD ($)
|
Sep. 30, 2018
USD ($)
|
Sep. 30, 2019
USD ($)
|
Sep. 30, 2018
USD ($)
|
Jan. 02, 2019
USD ($)
|
Dec. 31, 2018
USD ($)
|
Feb. 15, 2015
USD ($)
|
Feb. 15, 2015
CNY (¥)
|
|
Summary of Significant Accounting Policies (Textual) | ||||||||||
Cash balances | $ 20,420,442 | $ 9,520,325 | $ 20,420,442 | $ 9,520,325 | ||||||
Restricted cash | ||||||||||
Credit period | Credit periods to customers are within 180 days after customers received the purchased goods. | |||||||||
Allowance for doubtful accounts | 12,837 | $ 12,837 | ||||||||
Interest costs capitalized | 213,514 | 367,917 | $ 321,333 | 568,790 | ||||||
Effective income tax rate on estimated profit | 25.00% | 25.00% | ||||||||
Shipping and handling costs | 147,926 | 75,049 | $ 361,504 | 365,881 | ||||||
Employee benefit costs | 474,130 | 74,135 | 1,690,484 | 329,112 | ||||||
Advertising expenses | ||||||||||
Cumulative translation adjustment and effect of exchange rate | (862,543) | (574,848) | ||||||||
Entitlement of net profit loss towards fishing vessels by entity, percentage | 100.00% | |||||||||
Reserve for inventories | 42,138 | $ 42,138 | 413,893 | |||||||
Description of foreign currency translation | Asset and liability accounts at September 30, 2019 and December 31, 2018 were translated at 7.0729 RMB to $1.00 and at 6.8632 RMB to $1.00, respectively, which were the exchange rates on the balance sheet dates. Equity accounts were stated at their historical rate. The average translation rates applied to the statements of operations for the nine months ended September 30, 2019 and 2018 were 6.8541 RMB and 6.5196 RMB to $1.00, respectively. Cash flows from the Company's operations are calculated based upon the local currencies using the average translation rate. | |||||||||
Impairment loss | $ 2,546,338 | |||||||||
Right use asset and lease liability | $ 770,000 | |||||||||
Pingtan Fishing [Member] | ||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||
Agriculture investment | $ 65,000,000 | |||||||||
Percentage of ownership | 8.00% | 8.00% | 8.00% | 8.00% | ||||||
Pingtan Fishing [Member] | RMB [Member] | ||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||
Agriculture investment | ¥ | ¥ 400,000,000 | |||||||||
China [Member] | ||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||
Cash balances | $ 20,171,413 | $ 20,171,413 | 1,957,605 | |||||||
Hong Kong [Member] | ||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||
Cash balances | 249,029 | 249,029 | 9,250 | |||||||
China Development Bank [Member] | ||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||
Restricted cash | ||||||||||
Asset under Construction [Member] | ||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||
Interest costs capitalized | $ 213,514 | $ 367,917 | $ 321,333 | $ 568,790 |