Annual report pursuant to Section 13 and 15(d)

Noncontrolling Interest

v3.20.1
Noncontrolling Interest
12 Months Ended
Dec. 31, 2019
Noncontrolling Interest [Abstract]  
NONCONTROLLING INTEREST

NOTE 16 – NONCONTROLLING INTEREST

 

As of December 31, 2019, Yu Zhou, director and former Co-Chief Executive Officer of Genexosome, who owns 40% of the equity interests of Genexosome, which is not under the Company's control. The following is a summary of noncontrolling interest activities in the years ended December 31, 2019 and 2018.

  

    Amount  
Noncontrolling interest at January 1, 2018   $ (585,394 )
Net loss attributable to noncontrolling interest     (278,174 )
Foreign currency translation adjustment attributable to noncontrolling interest     1,368  
Noncontrolling interest at December 31, 2018     (862,200 )
Noncontrolling interest deficit adjustment *     862,200  
Net loss attributable to noncontrolling interest     -  
Foreign currency translation adjustment attributable to noncontrolling interest     -  
Noncontrolling interest at December 31, 2019   $ -  

 

* The noncontrolling interest holder does not have the ability to satisfy the deficit of $862,200 (See note 21).