0001680873-21-000033 | 10-Q | XBRL Viewer

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COVER - shares	6 Months Ended
COVER - shares	Jun. 30, 2021	Aug. 06, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-38180
Entity Registrant Name	HF FOODS GROUP INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-2717873
Entity Address, Address Line One	19319 Arenth Avenue
Entity Address, City or Town	City of Industry
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91748
City Area Code	626
Local Phone Number	338-1090
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	HFFG
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		51,913,411
Entity Central Index Key	0001680873
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
CURRENT ASSETS:
Cash	$ 13,425,792	$ 9,580,853
Accounts receivable, net	30,308,639	24,857,322
Accounts receivable - related parties, net	1,921,415	1,261,463
Inventories, net	64,061,582	58,535,040
Advances to suppliers - related parties, net	0	196,803
Other current assets	3,819,451	4,614,164
TOTAL CURRENT ASSETS	113,536,879	99,045,645
Property and equipment, net	134,755,748	136,869,085
Operating lease right-of-use assets	16,326,011	931,630
Long-term investments	2,425,625	2,377,164
Intangible assets, net	170,352,500	175,797,650
Goodwill	68,511,941	68,511,941
Deferred tax assets	59,079	57,478
Other long-term assets	1,253,212	694,490
Total assets	507,220,995	484,285,083
CURRENT LIABILITIES:
Bank overdraft	15,018,435	14,839,747
Line of credit	19,111,822	18,279,062
Accounts payable	41,668,144	28,602,570
Accounts payable - related parties	1,956,629	1,572,427
Current portion of long-term debt, net	5,804,100	5,641,259
Current portion of obligations under finance leases	272,648	286,903
Current portion of obligations under operating leases	610,256	308,148
Accrued expenses and other liabilities	5,123,479	6,178,144
Obligations under interest rate swap contracts	393,479	993,516
TOTAL CURRENT LIABILITIES	89,958,992	76,701,776
Long-term debt, net	85,142,465	88,008,803
Promissory note payable - related party	5,500,000	7,000,000
Obligations under finance leases, non-current	630,774	766,885
Obligations under operating leases, non-current	15,930,735	623,482
Deferred tax liabilities	45,078,908	46,382,704
Total liabilities	242,241,874	219,483,650
SHAREHOLDERS’ EQUITY:
Preferred Stock, $0.0001 par value, 1,000,000 shares authorized, no shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively	0	0
Common Stock, $0.0001 par value, 100,000,000 shares authorized, 51,913,411 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively	5,191	5,191
Additional paid-in capital	583,723,206	587,579,093
Accumulated deficit	(322,030,870)	(327,150,398)
TOTAL SHAREHOLDER'S EQUITY ATTRIBUTABLE TO HF FOODS GROUP INC.	261,697,527	260,433,886
Non-controlling interests	3,281,594	4,367,547
TOTAL SHAREHOLDERS’ EQUITY	264,979,121	264,801,433
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 507,220,995	$ 484,285,083

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	51,913,411	51,913,411
Common stock, outstanding (in shares)	51,913,411	51,913,411

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue	$ 193,546,236	$ 104,560,096	$ 352,928,064	$ 280,363,432
Cost of revenue	158,411,932	83,947,312	288,364,169	230,775,603
GROSS PROFIT	35,134,304	20,612,784	64,563,895	49,587,829
DISTRIBUTION, SELLING AND ADMINISTRATIVE EXPENSES	29,903,759	25,092,568	58,031,254	54,499,161
INCOME (LOSS) FROM OPERATIONS	5,230,545	(4,479,784)	6,532,641	(4,911,332)
Other Income (Expenses)
Interest income	0	132	0	263
Interest expense	(709,342)	(324,319)	(1,451,483)	(2,275,888)
Goodwill impairment loss	0	0	0	(338,191,407)
Other income	473,190	264,730	912,749	670,380
Change in fair value of interest rate swap contracts	(112,256)	(1,264,254)	1,318,636	(1,264,254)
Total Other Income (Expenses), net	(348,408)	(1,323,711)	779,902	(341,060,906)
INCOME (LOSS) BEFORE INCOME TAX PROVISION (BENEFIT)	4,882,137	(5,803,495)	7,312,543	(345,972,238)
PROVISION (BENEFIT) FOR INCOME TAXES	1,377,098	(1,489,305)	1,984,305	(1,971,516)
NET INCOME (LOSS)	3,505,039	(4,314,190)	5,328,238	(344,000,722)
Less: net income (loss) attributable to non-controlling interests	(91,557)	(255,287)	208,710	(57,877)
NET INCOME (LOSS) ATTRIBUTABLE TO HF FOODS GROUP INC.	$ 3,596,596	$ (4,058,903)	$ 5,119,528	$ (343,942,845)
Earnings (loss) per common share - basic (in dollars per share)	$ 0.07	$ (0.08)	$ 0.10	$ (6.60)
Earnings (loss) per common share - diluted (in dollars per share)	$ 0.07	$ (0.08)	$ 0.10	$ (6.60)
Weighted average shares - basic (in shares)	51,913,411	52,145,096	51,913,411	52,145,096
Weighted average shares - diluted (in shares)	51,913,411	52,145,096	51,913,411	52,145,096
Third Parties
Revenue	$ 190,460,529	$ 101,105,691	$ 347,451,896	$ 271,814,931
Cost of revenue	154,919,694	80,707,172	282,559,053	222,666,532
Related Parties
Revenue	3,085,707	3,454,405	5,476,168	8,548,501
Cost of revenue	$ 3,492,238	$ 3,240,140	$ 5,805,116	$ 8,109,071

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($)	Total	Total Shareholders’ Equity Attributable to HF Foods Group Inc.	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Non-controlling Interests
Beginning Balance (in shares) at Dec. 31, 2019			53,050,211	(905,115)
Beginning Balance at Dec. 31, 2019	$ 607,656,732	$ 603,407,945	$ 5,305	$ (12,038,030)	$ 599,617,009	$ 15,823,661	$ 4,248,787
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	(339,686,532)	(339,883,942)				(339,883,942)	197,410
Distribution to shareholders	(125,000)						(125,000)
Ending Balance (in shares) at Mar. 31, 2020			53,050,211	(905,115)
Ending Balance at Mar. 31, 2020	267,845,200	263,524,003	$ 5,305	$ (12,038,030)	599,617,009	(324,060,281)	4,321,197
Beginning Balance (in shares) at Dec. 31, 2019			53,050,211	(905,115)
Beginning Balance at Dec. 31, 2019	607,656,732	603,407,945	$ 5,305	$ (12,038,030)	599,617,009	15,823,661	4,248,787
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	(344,000,722)
Ending Balance (in shares) at Jun. 30, 2020			53,050,211	(905,115)
Ending Balance at Jun. 30, 2020	263,531,010	259,465,100	$ 5,305	$ (12,038,030)	599,617,009	(328,119,184)	4,065,910
Beginning Balance (in shares) at Mar. 31, 2020			53,050,211	(905,115)
Beginning Balance at Mar. 31, 2020	267,845,200	263,524,003	$ 5,305	$ (12,038,030)	599,617,009	(324,060,281)	4,321,197
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	(4,314,190)	(4,058,903)				(4,058,903)	(255,287)
Ending Balance (in shares) at Jun. 30, 2020			53,050,211	(905,115)
Ending Balance at Jun. 30, 2020	263,531,010	259,465,100	$ 5,305	$ (12,038,030)	599,617,009	(328,119,184)	4,065,910
Beginning Balance (in shares) at Dec. 31, 2020			51,913,411	0
Beginning Balance at Dec. 31, 2020	264,801,433	260,433,886	$ 5,191	$ 0	587,579,093	(327,150,398)	4,367,547
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	1,823,199	1,522,932				1,522,932	300,267
Distribution to shareholders	(73,000)						(73,000)
Ending Balance (in shares) at Mar. 31, 2021			51,913,411	0
Ending Balance at Mar. 31, 2021	266,551,632	261,956,818	$ 5,191	$ 0	587,579,093	(325,627,466)	4,594,814
Beginning Balance (in shares) at Dec. 31, 2020			51,913,411	0
Beginning Balance at Dec. 31, 2020	264,801,433	260,433,886	$ 5,191	$ 0	587,579,093	(327,150,398)	4,367,547
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	5,328,238
Ending Balance (in shares) at Jun. 30, 2021			51,913,411	0
Ending Balance at Jun. 30, 2021	264,979,121	261,697,527	$ 5,191	$ 0	583,723,206	(322,030,870)	3,281,594
Beginning Balance (in shares) at Mar. 31, 2021			51,913,411	0
Beginning Balance at Mar. 31, 2021	266,551,632	261,956,818	$ 5,191	$ 0	587,579,093	(325,627,466)	4,594,814
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	3,505,039	3,596,596				3,596,596	(91,557)
Acquisition of non-controlling interest	(5,000,000)	(3,855,887)			(3,855,887)		(1,144,113)
Distribution to shareholders	(77,550)						(77,550)
Ending Balance (in shares) at Jun. 30, 2021			51,913,411	0
Ending Balance at Jun. 30, 2021	$ 264,979,121	$ 261,697,527	$ 5,191	$ 0	$ 583,723,206	$ (322,030,870)	$ 3,281,594

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net Income (Loss)	$ 5,328,238	$ (344,000,722)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization expense	9,091,499	8,995,488
Goodwill impairment loss	0	338,191,407
Gain from disposal of equipment	(48,521)	(20,349)
Allowance for doubtful accounts	(22,945)	2,924,148
Allowance for inventories	66,609	43,496
Deferred tax benefit	(1,305,397)	(2,497,040)
Income from equity method investment	(48,461)	(50,337)
Change in fair value of interest rate swap contracts	(600,037)	1,264,254
Changes in operating assets and liabilities:
Accounts receivable, net	(5,428,372)	23,751,669
Accounts receivable - related parties, net	(659,952)	3,153,318
Inventories, net	(5,593,151)	10,705,175
Advances to suppliers - related parties	196,803	615,503
Other current assets	794,714	649,096
Security deposit - related parties	0	58,880
Other long-term assets	(574,644)	12,188
Accounts payable	13,065,571	(9,402,330)
Accounts payable - related parties	384,202	(2,130,874)
Operating lease liability	(321,032)	(200,163)
Accrued expenses and other liabilities	(1,054,664)	354,844
Net cash provided by operating activities	13,270,460	32,417,651
Cash flows from investing activities:
Purchase of property and equipment	(663,667)	(209,964)
Proceeds from disposal of equipment	68,767	90,879
Payment made for acquisition of B&R Realty	0	(94,004,068)
Payment made for acquisition of non-controlling interest	(5,000,000)	0
Net cash used in investing activities	(5,594,900)	(94,123,153)
Cash flows from financing activities:
Proceeds from bank overdraft	178,688	0
Repayment of bank overdraft	0	(7,367,573)
Proceeds from line of credit	358,185,458	275,070,371
Repayment of line of credit	(357,418,298)	(284,450,866)
Proceeds from long-term debt	0	75,614,612
Repayment of long-term debt	(2,975,553)	(2,873,572)
Repayment of promissory note payable - related party	(1,500,000)	0
Repayment of obligations under finance leases	(150,366)	(135,737)
Cash distribution to shareholders	(150,550)	(125,000)
Net cash provided by (used in) financing activities	(3,830,621)	55,732,235
Net increase (decrease) in cash	3,844,939	(5,973,267)
Cash at beginning of the period	9,580,853	14,538,286
Cash at end of the period	$ 13,425,792	$ 8,565,019

ORGANIZATION AND BUSINESS DESCRIPTION

6 Months Ended

Jun. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

ORGANIZATION AND BUSINESS DESCRIPTION

Organization and General

HF Foods Group Inc. and subsidiaries (collectively “HF Group”, or the “Company”) is a leading Asian food service distributor that markets and distributes fresh produce, frozen and dry food, and non-food products to primarily Asian restaurants and other food service customers throughout the Southeast, Pacific and Mountain West regions in the United States. The Company is the result of a successful merger between two complementary market leaders, HF Group Holding Corporation ("HF Holding") and B&R Global Holdings, Inc. ("B&R Global") on November 4, 2019.

The Company was originally incorporated in Delaware on May 19, 2016 as a special purpose acquisition company under the name Atlantic Acquisition Corp. (“Atlantic”), in order to acquire, through a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with, one or more businesses or entities.

On August 22, 2018, Atlantic consummated a reverse acquisition transaction resulting in the stockholders of HF Holding becoming the majority shareholders of Atlantic, and changed its name to HF Foods Group Inc. On November 4, 2019, the Company consummated a merger transaction, resulting in B&R Global becoming a wholly owned subsidiary of HF Group. On January 17, 2020, B&R Global acquired all the subsidiaries' equity membership interests under B&R Group Realty Holding, LLC ("BRGR"), which owned warehouse facilities that were being leased to B&R Global for its operations in California, Arizona, Utah, Colorado, Washington, and Montana. See further transaction details below.

Formation of HF Holding

HF Holding was incorporated in the State of North Carolina on October 11, 2017 as a holding company to acquire and consolidate the various operating entities under one roof. On January 1, 2018, HF Holding entered into a Share Exchange Agreement (the “Exchange Agreement”) with the controlling shareholders of the 11 entities listed below in exchange for all of HF Holding’s outstanding shares. Upon completion of the share exchanges, these entities became either wholly-owned or majority-owned subsidiaries of HF Holding.

•Han Feng, Inc. (“Han Feng”)

•Truse Trucking, Inc. (“TT”)

•Morning First Delivery, Inc. (“MFD”)

•R&N Holdings, LLC (“R&N Holdings”)

•R&N Lexington, LLC (“R&N Lexington”)

•Kirnsway Manufacturing, Inc. (“Kirnsway”)

•Chinesetg, Inc. (“Chinesetg”)

•New Southern Food Distributors, Inc. (“NSF”)

•B&B Trucking Services, Inc. (“BB”)

•Kirnland Food Distribution, Inc. (“Kirnland”)

•HG Realty LLC (“HG Realty”)

In accordance with Financial Accounting Standards Board’s (“FASB") Accounting Standards Codification (“ASC”) 805-50-25, the transaction consummated through the Exchange Agreement has been accounted for as a transaction among entities under common control since the same shareholders controlled all these 11 entities prior to the execution of the Agreement. Furthermore, ASC 805-50-45-5 indicates that the financial statements and financial information presented for prior years also shall be retrospectively adjusted to furnish comparative information.

In accordance with ASC 805-50-30-5, when accounting for a transfer of assets or exchange of shares between entities under common control, the entity that receives the net assets or the equity interests should initially recognize the assets and liabilities transferred at their carrying amounts in the accounts of the transferring entity at the date of the transfer. If the carrying amounts of the assets and liabilities transferred differ from the historical cost of the parent of the entities under common control, then the financial statements of the receiving entity should reflect the transferred assets and liabilities at the historical cost of the parent of the entities under common control. Accordingly, the Company has recorded the assets and liabilities transferred from the above entities at their carrying amount.

Reverse Acquisition of HF Holding

On August 22, 2018, Atlantic consummated a reverse acquisition transaction resulting in HF Holding becoming the surviving entity (the “Atlantic Merger”) and a wholly owned subsidiary of Atlantic (the “Atlantic Acquisition”). The stockholders of HF Holding became the majority shareholders of Atlantic, and the Company changed its name to HF Foods Group, Inc. (Collectively, these transactions are referred to as the “Atlantic Transactions”).

At closing, Atlantic issued the HF Holding stockholders an aggregate of 19,969,831 shares of its common stock, equal to approximately 88.5% of the aggregate issued and outstanding shares of Atlantic’s common stock. The pre-Transaction stockholders of Atlantic owned the remaining 11.5% of the issued and outstanding shares of common stock of the combined entity.

Following the consummation of the Atlantic Transactions on August 22, 2018, there were 22,167,486 shares of common stock issued and outstanding, consisting of (i) 19,969,831 shares issued to HF Holding’s stockholders pursuant to the Atlantic Merger Agreement, (ii) 10,000 restricted shares issued to one of Atlantic’s shareholders in conjunction with the Atlantic Transactions, and (iii) 2,587,655 shares originally issued to the pre-Transactions stockholders of Atlantic, less 400,000 shares sold back to Atlantic by one of Atlantic’s pre-Transactions shareholders in conjunction with the Atlantic Transactions.

The Atlantic Acquisition was treated as a reverse acquisition under the acquisition method of accounting in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). For accounting purposes, HF Holding was considered to be acquiring Atlantic in this transaction. Therefore, the aggregate consideration paid in connection with the business combination was allocated to Atlantic’s tangible and intangible assets and liabilities based on their fair market values. The assets and liabilities and results of operations of Atlantic were consolidated into the results of operations of HF Holding as of the completion of the Atlantic Transactions.

HF Holding Entities Organized or Acquired Post-Atlantic Merger

On July 10, 2019, the Company, through its subsidiary Han Feng, formed a new real estate holding company, R&N Charlotte, L.L.C. ("R&N Charlotte"). R&N Charlotte owns a 4.66 acre tract of land with appurtenant 115,570 square foot office/warehouse/industrial facility located in Charlotte, North Carolina.

On December 10, 2019, the Company, through its subsidiary Han Feng, established a new entity, HF Foods Industrial, L.L.C. ("HFFI"), as owner of 60% of member interests, to operate as a food processing company.

On October 1, 2020, the Company, through its subsidiary HF Group Holding, formed a wholly-owned new real estate lease holding company, 273 Fifth Avenue, L.L.C. ("273 Co").

On May 28, 2021, the Company, through its subsidiary HF Group Holding, purchased the 33.33% non-controlling interest of the stock in Kirnland from the previous minority shareholder.

The following table summarizes all the existing entities under HF Holding after the above-mentioned reorganization, together with new entities formed or acquired after the Atlantic Transactions:

Name

Date of Formation /
Incorporation

Place of Formation /
Incorporation

Percentage
of Legal
Ownership
by HF Group

Principal Activities

Parent:

HF Holding

October 11, 2017

North Carolina, USA

100%

Holding Company

Subsidiaries:

Han Feng

January 14, 1997

North Carolina, USA

100%

Foodservice distributor

Kirnland

April 11, 2006

Georgia, USA

100%

Foodservice distributor

NSF

December 17, 2008

Florida, USA

100%

Foodservice distributor

HFFI

December 10, 2019

North Carolina, USA

60%

Food processing company

Chinesetg

July 12, 2011

New York, USA

100%

Design and printing services provider

Kirnsway

May 24, 2006

North Carolina, USA

100%

Design and printing services provider

September 12, 2001

Florida, USA

100%

Logistic service provider

MFD

April 15, 1999

North Carolina, USA

100%

Logistic service provider

August 6, 2002

North Carolina, USA

100%

Logistic service provider

HG Realty

May 11, 2012

Georgia, USA

100%

Real estate holding company

R&N Charlotte

July 10, 2019

North Carolina, USA

100%

Real estate holding company

R&N Holdings

November 21, 2002

North Carolina, USA

100%

Real estate holding company

R&N Lexington

May 27, 2010

North Carolina, USA

100%

Real estate holding company

273 Co

October 10, 2020

Delaware, USA

100%

Real estate lease holding company

Merger with B&R Global

On November 4, 2019, HF Group consummated a merger transaction resulting in B&R Global becoming a wholly owned subsidiary of the Company (the "Business Combination"). At closing, the Company acquired 100% of the controlling interest of B&R Global, in exchange for the issuance of 30,700,000 shares of Common Stock of the Company to the shareholders of B&R Global. Pursuant to the B&R Merger Agreement, the aggregate fair value of the consideration paid by the Company in the Business Combination was $576,699,494, based on the closing share price of the Company’s common stock at the date of Closing.

B&R Global was formed in 2014 as a holding company to acquire and consolidate the various operating entities (listed below) under one roof. Through its subsidiaries, B&R Global supplies foodservice items to approximately 5,000 restaurants across 11 Western states.

The following table summarizes the entities under B&R Global in the Business Combination:

Name

Date of Formation /
Incorporation

Place of Formation /
Incorporation

Percentage
of Legal
Ownership
by B&R
Global

Principal Activities

Parent:

B&R Global

January 3, 2014

Delaware, USA

—

Holding Company

Subsidiaries:

B&L Trading, LLC (“BNL”)

July 18, 2013

Washington, USA

100%

Foodservice distributor

Capital Trading, LLC (“UT”)

March 10, 2003

Utah, USA

100%

Foodservice distributor

Great Wall Seafood LA, LLC (“GW”)

March 7, 2014

California, USA

100%

Foodservice distributor

Min Food Inc. (“MIN”)

May 29, 2014

California, USA

60.25%

Foodservice distributor

Monterey Food Service, LLC (“MS”)

September 14, 2017

California, USA

65%

Foodservice distributor

Mountain Food, LLC (“MF”)

May 2, 2006

Colorado, USA

100%

Foodservice distributor

Ocean West Food Services, LLC (“OW”)

December 22, 2011

California, USA

67.5%

Foodservice distributor

R & C Trading, L.L.C. (“RNC”)

November 26, 2007

Arizona, USA

100%

Foodservice distributor

Rongcheng Trading, LLC (“RC”)

January 31, 2006

California, USA

100%

Foodservice distributor

Win Woo Trading, LLC (‘WW”)

January 23, 2004

California, USA

100%

Foodservice distributor

Irwindale Poultry, LLC (“IP”)

December 27, 2017

California, USA

100%

Poultry processing company

Lin’s Farms, LLC (“LNF”)

July 2, 2014

Utah, USA

100%

Poultry processing company

Kami Trading Inc. (“KAMI”)

November 20, 2013

California, USA

100%

Import service provider

American Fortune Foods Inc. (“AF”)

February 19, 2014

California, USA

100%

Logistic and import service provider

B&R Group Logistics Holding LLC (“BRGL”)

July 17, 2014

Delaware, USA

100%

Logistic service provider

Best Choice Trucking, LLC (“BCT”)

January 1, 2011

California, USA

100%

Logistic service provider

Fuso Trucking Corp. (“FUSO”)

January 20, 2015

California, USA

VIE*

Logistic service provider

GM Food Supplies, Inc. (“GM”)

March 22, 2016

California, USA

100%

Logistic service provider

Golden Well Inc. (“GWT”)

November 8, 2011

California, USA

100%

Logistic service provider

Happy FM Group, Inc. (“HFM”)

April 9, 2014

California, USA

100%

Logistic service provider

Hayward Trucking, Inc. (“HRT”)

September 5, 2012

California, USA

100%

Logistic service provider

KYL Group, Inc. (“KYL”)

April 18, 2014

Nevada, USA

100%

Logistic service provider

Lin’s Distribution Inc., Inc. (“LIN”)

February 2, 2010

Utah, USA

100%

Logistic service provider

MF Food Services, Inc. (“MFS”)

December 21, 2017

California, USA

100%

Logistic service provider

New Berry Trading, LLC (“NBT”)

September 5, 2012

California, USA

100%

Logistic service provider

Royal Service, Inc. (“RS”)

December 29, 2014

Oregon, USA

100%

Logistic service provider

Royal Trucking Services, Inc. (“RTS”)

May 19, 2015

Washington, USA

100%

Logistic service provider

Yi Z Service LLC (“YZ”)

October 2, 2017

California, USA

100%

Logistic service provider

*On November 4, 2019 and as of June 30, 2021, B&R Global consolidated FUSO, which is considered as a variable interest entity (“VIE”) under U.S. GAAP, due to its pecuniary and contractual interest in this entity as a result of the funding arrangements outlined in the entity.

Acquisition of Real Estate Companies

On January 17, 2020, the Company completed the transactions contemplated by that certain membership interest purchase agreement dated the same date (the “Purchase Agreement”) by and among its subsidiary B&R Global, BRGR, and nine subsidiary limited liability companies wholly owned by BRGR (the “BRGR Subsidiaries”) (the “Realty Acquisition”). Pursuant to the Purchase Agreement, B&R Global acquired all equity membership interests in the BRGR Subsidiaries, which own 10 warehouse facilities that were being leased by the Company for its operations in California, Arizona, Utah, Colorado, Washington, and Montana for purchase consideration of $101,269,706. Consideration for the Realty Acquisition was funded by

(i) $75.6 million in mortgage-backed term loans financed under the Second Amended Credit Agreement (see Note 10 for additional information), (ii) issuance by B&R Global of a $7.0 million Unsecured Subordinated Promissory Note (the “Note”) to BRGR, and (iii) payment of $18.7 million from funds drawn from the Company’s revolving credit facility.

The following table summarizes B&R Global’s additional wholly owned subsidiaries as a result of the Realty Acquisition:

Name

Date of Formation /
Incorporation

Place of Formation /
Incorporation

Percentage of Legal
Ownership by B&R Global

Principal Activities

A & Kie, LLC ("AK")

March 26, 2010

Arizona, USA

100%

Real estate holding company

B & R Realty, LLC ("BRR")

August 28, 2013

California, USA

100%

Real estate holding company

Big Sea Realty, LLC ("BSR")

April 3, 2013

Washington, USA

100%

Real estate holding company

Fortune Liberty, LLC ("FL")

November 22, 2006

Utah, USA

100%

Real estate holding company

Genstar Realty, LLC ("GSR")

February 27, 2012

California, USA

100%

Real estate holding company

Hardin St Properties, LLC ("HP")

December 5, 2012

Montana, USA

100%

Real estate holding company

Lenfa Food, LLC ("LF")

February 14, 2002

Colorado, USA

100%

Real estate holding company

Lucky Realty, LLC ("LR")

September 3, 2003

California, USA

100%

Real estate holding company

Murray Properties, LLC ("MP")

February 27, 2013

Utah, USA

100%

Real estate holding company

The combined entity, resulting from the merger of B&R Global and HF Group, has 13 distribution centers strategically located in 8 states across the Southeast, Pacific and Mountain West regions of the United States and serves over 10,000 restaurants across 22 states with a fleet of over 300 refrigerated vehicles, a workforce of over 780 employees and subcontractors. The Company is also supported by two call centers in China which provide round-the-clock sales and service supports to its customers, who mainly converse in Mandarin or Chinese dialects.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation and Principles of Consolidation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and have been consistently applied. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. These financial statements should be read in conjunction with the audited financial statements and notes thereto for the fiscal years ended December 31, 2020 and 2019. Operating results for the six month periods ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021.

The unaudited condensed consolidated financial statements include the financial statements of HF Group, its subsidiaries and the VIE. The VIE has been accounted for at historical cost and prepared on the basis as if common control had been established as of the beginning of the first period presented in the accompanying unaudited condensed consolidated financial statements. All inter-company balances and transactions have been eliminated upon consolidation.

U.S. GAAP provides guidance on the identification of VIE and financial reporting for entities over which control is achieved through means other than voting interests. The Company evaluates each of its interests in an entity to determine whether or not the investee is a VIE and, if so, whether the Company is the primary beneficiary of such VIE. In determining whether the Company is the primary beneficiary, the Company considers if the Company (1) has power to direct the activities that most significantly affect the economic performance of the VIE, and (2) receives the economic benefits of the VIE that could be significant to the VIE. If deemed the primary beneficiary, the Company consolidates the VIE.

As of June 30, 2021 and December 31, 2020, FUSO is considered to be a VIE. FUSO was established solely to provide exclusive services to the Company. The entity lacks sufficient equity to finance its activities without additional subordinated financial support from the Company, and the Company has the power to direct the VIE's activities. In addition, the Company receives the economic benefits from the entity and has concluded that the Company is a primary beneficiary.

The carrying amounts of the assets, liabilities, the results of operations and cash flows of the VIE included in the Company’s unaudited condensed consolidated balance sheets, statements of operations, and statements of cash flows are as follows:


	June 30, 2021		December 31, 2020
Current assets	$	388,729	$	47,822
Non-current assets	97,946		115,934
Total assets	$	486,675	$	163,756

Current liabilities	$	655,401	$	496,234
Non-current liabilities	26,548		39,475
Total liabilities	$	681,949	$	535,709


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2021		2020		2021		2020
Net revenue	$	747,831	$	415,377	$	1,201,005	$	1,081,805
Net income	$	150,584	$	34,667	$	176,679	$	99,445


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2021		2020		2021		2020
Net cash provided by (used in) operating activities	$	(34,231)	$	19,978	$	52,512	$	334,202
Net cash provided by (used in) financing activities	(6,586)		(23,475)		9,855		(245,612)
Net increase (decrease) in cash and cash equivalents	$	(40,817)	$	(3,497)	$	62,367	$	88,590

Non-controlling Interests

U.S. GAAP requires that non-controlling interests in subsidiaries and affiliates be reported in the equity section of a company’s balance sheet. In addition, the amounts attributable to the net income (loss) of those subsidiaries are reported separately in the consolidated statements of operations.

On May 28, 2021, the Company, through its subsidiary HF Group Holding, purchased the 33.33% noncontrolling interest of the stock in Kirnland for $5,000,000. In accordance with ASC 810-10-45-23, changes in a parent’s ownership interest while the parent retains its controlling financial interest in its subsidiary shall be accounted for as equity transactions. Therefore, no gain or loss shall be recognized. As a result of this transaction, noncontrolling interests were reduced by $1,144,113 and the remaining difference of $3,855,887 was charged to additional paid-in capital.

As of June 30, 2021 and December 31, 2020, non-controlling interests consisted of the following:


Name of Entity	Percentage of Non-controlling Interest Ownership	June 30, 2021		December 31, 2020
Kirnland	—%	$	—	$	1,384,780
MIN	39.75%	1,116,222		889,596
MS	35.00%	451,673		459,816
OW	32.50%	1,713,699		1,633,355
Total		$	3,281,594	$	4,367,547

Uses of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during each reporting period. Actual results could differ from those estimates. Significant accounting estimates reflected in the Company’s unaudited condensed consolidated financial statements include, but are not limited to, allowance for doubtful accounts, useful lives of property and equipment, lease assumptions, impairment of long-lived assets, long-term investments, goodwill, the purchase

price allocation and fair value of non-controlling interests with respect to business combinations, realization of deferred tax assets, and uncertain income tax positions.

Cash

The Company considers all highly liquid investments purchased with a maturity of three months or shorter to be cash equivalents. As of June 30, 2021 and December 31, 2020, the Company had no cash equivalents, respectively.

Accounts Receivable, net

Accounts receivable represent amounts due from customers in the ordinary course of business and are recorded at the invoiced amount and do not bear interest. Receivables are presented net of the allowance for doubtful accounts in the accompanying consolidated balance sheets. The Company evaluates the collectability of its accounts receivable and determines the appropriate allowance for doubtful accounts based on a combination of factors. When the Company is aware of a customer’s inability to meet its financial obligation, a specific allowance for doubtful accounts is recorded, reducing the receivable to the net amount the Company reasonably expects to collect. In addition, allowances are recorded for all other receivables based on historic collection trends, write-offs and the aging of receivables. The Company uses specific criteria to determine uncollectible receivables to be written off, including, e.g., bankruptcy filings, the referral of customer accounts to outside parties for collection, and the length that accounts remain past due. As of June 30, 2021 and December 31, 2020, allowances for doubtful accounts were $723,918 and $909,182, respectively.

Inventories, net

The Company’s inventories, consisting mainly of food and other food service-related products, are considered as finished goods. Inventory costs, including the purchase price of the product and freight charges to deliver it to the Company’s warehouses, are net of certain cash or non-cash consideration received from vendors. The Company assesses the need for valuation allowances for slow-moving, excess and obsolete inventories by estimating the net recoverable value of such goods based upon inventory category, inventory age, specifically identified items, and overall economic conditions. Inventories are stated at the lower of cost or net realizable value using the first-in, first-out (FIFO) method. As of June 30, 2021 and December 31, 2020, the valuation allowance was $232,946 and $146,078, respectively.

Property and Equipment, net

Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Following are the estimated useful lives of the Company’s property and equipment:


	Estimated Useful Lives (Years)
Automobiles	3	—	7
Buildings and improvements	7	—	39
Furniture and fixtures	4	—	10
Machinery and equipment	3	—	10

Repair and maintenance costs are charged to expense as incurred, whereas the cost of renewals and betterment that extends the useful lives of property and equipment are capitalized as additions to the related assets. Retirements, sales and disposals of assets are recorded by removing the cost and accumulated depreciation from the asset and accumulated depreciation accounts with any resulting gain or loss reflected in the consolidated statements of operations in other income or expenses.

Business Combinations

The Company accounts for its business combinations using the purchase method of accounting in accordance with ASC 805 (“ASC 805”), Business Combinations. The purchase method of accounting requires that the consideration transferred be allocated to the assets, including separately identifiable assets and liabilities the Company acquired, based on their estimated fair values. The consideration transferred in an acquisition is measured as the aggregate of the fair values at the date of exchange of the assets given, liabilities incurred, and equity instruments issued as well as the contingent considerations and all contractual contingencies as of the acquisition date. Identifiable assets, liabilities and contingent liabilities acquired or assumed are measured separately at their fair value as of the acquisition date, irrespective of the extent of any non-controlling interests.

The excess of (i) the total of cost of acquisition, fair value of the non-controlling interests and acquisition date fair value of any previously held equity interest in the acquiree over, (ii) the fair value of the identifiable net assets of the acquiree, is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in earnings.

The Company estimates the fair value of assets acquired and liabilities assumed in a business combination. While the Company uses its best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date, its estimates are inherently uncertain and subject to refinement. Significant estimates in valuing certain intangible assets include, but are not limited to future expected revenues and cash flows, useful lives, discount rates, and selection of comparable companies. Although the Company believes the assumptions and estimates it has made in the past have been reasonable and appropriate, they are based in part on historical experience and information obtained from management of the acquired companies and are inherently uncertain. During the measurement period, which may be up to one year from the acquisition date, the Company records adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. On the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s consolidated statements of operations.

Transaction costs associated with business combinations are expensed as incurred, and are included in distribution, selling and administrative expenses in the Company’s consolidated statements of operations. The results of operations of the businesses that the Company acquired are included in the Company’s consolidated financial statements from the date of acquisition.

Goodwill

Goodwill represents the excess of the purchase price over the fair value of net assets acquired in a business combination. The Company tests goodwill for impairment at least annually, in the fourth quarter, or whenever events or changes in circumstances indicate that goodwill might be impaired.

The Company reviews the carrying values of goodwill and identifiable intangibles whenever events or changes in circumstances indicate that such carrying values may not be recoverable and annually for goodwill and indefinite lived intangible assets as required by ASC Topic 350 (“ASC 350”), Intangibles — Goodwill and Other. This guidance provides the option to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If, based on a review of qualitative factors, it is more likely than not that the fair value of a reporting unit is less than its carrying value, the Company performs a quantitative analysis. If the quantitative analysis indicates the carrying value of a reporting unit exceeds its fair value, the Company measures any goodwill impairment losses as the amount by which the carrying amount of a reporting unit exceeds its fair value, not to exceed the total amount of goodwill allocated to that reporting unit.

The Company opted for the early adoption of Accounting Standards Update (“ASU”) 2017-4, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The standard simplifies the subsequent measurement of goodwill by removing Step 2 of the current goodwill impairment test, which requires a hypothetical purchase price allocation. Under the new standard, an impairment loss will be recognized in the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill.

Intangible Assets

Intangible assets are carried at cost and amortized on a straight-line basis over their estimated useful lives. The Company determines the appropriate useful life of its intangible assets by measuring the expected cash flows of acquired assets. The estimated useful lives of intangible assets are as follows:


			Estimated Useful Lives (Years)
Tradenames			10
Customer relationships			20

Long-term Investments

The Company’s investments in unconsolidated entities consist of equity investment and investment without readily determinable fair value.

The Company follows ASC Topic 321 (“ASC 321”), Investments – Equity Securities, using the measurement alternative to measure investments in investees that do not have readily determinable fair value and over which the Company does not have significant influence at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer, if any. The Company makes a qualitative assessment of whether the investment is impaired at each reporting date. If a qualitative assessment indicates that the investment is impaired, the Company has to estimate the investment’s fair value in accordance with the principles of ASC Topic 820 (“ASC 820”), Fair Value Measurements and Disclosures. If the fair value is less than the investment’s carrying value, the entity has to recognize an impairment loss in earnings equal to the difference between the carrying value and fair value.

Investments in entities in which the Company can exercise significant influence but does not own a majority equity interest or control are accounted for using the equity method of accounting in accordance with ASC Topic 323 (“ASC 323”), Investments-Equity Method and Joint Ventures. Under the equity method, the Company initially records its investment at cost and the difference between the cost and the fair value of the underlying equity in the net assets of the equity investee is recognized as equity method goodwill, which is included in the equity method investment on the consolidated balance sheets. The equity method goodwill is not subsequently amortized and is not tested for impairment under ASC 350. The Company subsequently adjusts the carrying amount of the investment to recognize the Company’s proportionate share of each equity investee’s net income or loss into earnings after the date of investment. The Company evaluates the equity method investments for impairment under ASC 323. An impairment loss on the equity method investments is recognized in earnings when the decline in value is determined to be other-than-temporary.

The Company did not record any impairment loss on its long-term investments as of June 30, 2021 and December 31, 2020.

Impairment of Long-lived Assets Other Than Goodwill

The Company assesses its long-lived assets such as property and equipment for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Factors which may indicate potential impairment include a significant underperformance related to the historical or projected future operating results or a significant negative industry or economic trend. Recoverability of these assets is measured by comparison of their carrying amounts to future undiscounted cash flows the assets are expected to generate. If property and equipment, and intangible assets are considered to be impaired, the impairment to be recognized equals the amount by which the carrying value of the assets exceeds their fair value. The Company did not record any impairment loss on its long-lived assets as of June 30, 2021 and December 31, 2020.

Revenue Recognition

The Company recognizes revenue from the sale of products when title and risk of loss passes and the customer accepts the goods, which occurs at delivery. Sales taxes invoiced to customers and remitted to government authorities are excluded from net sales.

The Company follows ASU 2014-09, Revenue from Contracts with Customers (Topic 606). The Company recognizes revenue that represents the transfer of goods and services to customers in an amount that reflects the consideration to which the Company expects to be entitled in such exchange. This requires the Company to identify contractual performance obligations and determine whether revenue should be recognized at a point in time or over time, based on when control of goods and services transfer to a customer. The majority of the Company’s contracts have one single performance obligation, as the promise to transfer the individual goods is not separately identifiable from other promises in the contracts and is, therefore, not distinct. The Company’s revenue streams are recognized at a specific point in time.

For the three and six month periods ended June 30, 2021 and 2020, revenue recognized from performance obligations related to prior periods was insignificant. Revenue expected to be recognized in any future periods related to remaining performance obligations is insignificant.

The following table summarizes disaggregated revenue from customers by geographic locations:


	For the Three Months Ended				For the Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Arizona	$	12,376,972	$	6,914,288	$	23,516,574	$	16,926,037
California	71,711,341		34,492,561		124,782,760		102,157,517
Colorado	11,027,852		7,532,674		20,503,418		16,441,667
Florida	22,711,792		11,309,093		42,610,687		30,394,902
Georgia	16,632,853		8,072,633		31,241,879		22,174,887
North Carolina	33,703,273		21,266,959		63,216,780		50,984,476
Utah	13,584,123		10,294,374		26,919,728		25,292,749
Washington	11,798,030		4,677,514		20,136,238		15,991,197
Total	$	193,546,236	$	104,560,096	$	352,928,064	$	280,363,432

Shipping and Handling Costs

Shipping and handling costs, which include costs related to the selection of products and their delivery to customers, are included in distribution, selling and administrative expenses. Shipping and handling costs were $4,399,210 and $3,526,249 for the six months ended June 30, 2021 and 2020, and $2,473,438 and $968,016 for the three months ended June 30, 2021 and 2020, respectively.

Income Taxes

The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, the Company determines deferred tax assets and liabilities on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

The Company recognizes deferred tax assets to the extent that it believes that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If the Company determines that it would be able to realize its deferred tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes.

The Company records uncertain tax positions in accordance with ASC 740 (“ASC 740”), Income Taxes, on the basis of a two-step process in which (1) the Company determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company does not believe that there were any uncertain tax positions at June 30, 2021 and December 31, 2020.

The Company adopted ASU 2019-12 (“ASU 2019-12”), Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, on January 1, 2021. ASU 2019-12 is intended to simplify various aspects related to managerial accounting for income taxes. The adoption had no material impact on the Company's consolidated financial statements.

Leases

The Company accounts for leases following ASU 2016-02, Leases (Topic 842) ("Topic 842").

As a result of the Realty Acquisition (see Note 6 for additional information), nine leases previously included in the operating lease asset and liabilities balance were eliminated during consolidation. As of June 30, 2021, the balances for operating lease assets were $16,326,011 and liabilities were $16,540,991. As of December 31, 2020, the balances for operating lease assets were $931,630 and liabilities were $931,630. See Note 11 for additional information.

The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, current portion of obligations under operating leases, and obligations under operating leases, non-current on the Company’s consolidated balance sheets. Finance leases are included in property and equipment, net, current portion of finance lease liabilities, and finance lease liabilities, non-current on the consolidated balance sheets.

Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives and initial direct costs incurred. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term.

Earnings Per Share

The Company computes earnings per share (“EPS”) in accordance with ASC Topic 260 (“ASC 260”), Earnings per Share. ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. There is no anti-dilutive effect for the three and six month periods ended June 30, 2021 and 2020.

Fair Value of Financial Instruments

The Company follows the provisions of FASB ASC 820, Fair Value Measurements and Disclosures. ASC 820 clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows:

•Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.

•Level 2 - Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.

•Level 3 - Inputs are unobservable inputs which reflect the reporting entity’s own assumptions about what assumptions market participants would use in pricing the asset or liability based on the best available information.

Any transfers of assets or liabilities between Level 1, Level 2, and Level 3 of the fair value hierarchy will be recognized at the end of the reporting period in which the transfer occurs. There were no transfers between fair value levels in any of the periods presented herein.

The carrying amounts reported in the unaudited condensed consolidated balance sheets for cash, accounts receivable, advances to suppliers, other current assets, accounts payable, bank overdraft, current portion of long-term debt, current portion of obligations under finance and operating leases, accrued expenses and other liabilities and Obligations under interest rate swap contracts approximate their fair value based on the short-term maturity of these instruments.

Derivative Financial Instrument

In accordance with the guidance in ASC Topic 815 ("ASC 815"), Derivatives and Hedging, derivative financial instruments are recognized as assets or liabilities on the unaudited condensed consolidated balance sheets at fair value. The Company has not designated its interest rate swap ("IRS") contracts as hedges for accounting treatment. Pursuant to U.S. GAAP, income or loss from fair value changes for derivatives that are not designated as hedges by management are reflected as income or loss on the statement of operations. Net amounts received or paid under the interest rate swap contracts are recognized as an increase or decrease to interest expense when such amounts are incurred. The Company is exposed to credit loss in the event of nonperformance by the counterparty.

Concentrations and Credit Risk

Credit risk

Accounts receivable are typically unsecured and derived from revenue earned from customers, and thereby exposed to credit risk. The risk is mitigated by the Company’s assessment of its customers’ creditworthiness and its ongoing monitoring of outstanding balances.

Concentration risk

There were no receivables from any one customer representing more than 10% of the Company’s consolidated gross accounts receivable at June 30, 2021 and December 31, 2020.

For the six months ended June 30, 2021 and 2020, no supplier accounted for more than 10% of the total cost of revenue. As of June 30, 2021, there were four suppliers that accounted for a combined 53% of total outstanding advance payments, and no supplier that accounted for advance payments to related parties. As of December 31, 2020, two suppliers accounted for a combined 40% of total outstanding advance payments, and one supplier accounted for 96% of advance payments to related parties, respectively.

Reclassifications

Certain reclassifications have been made to the prior period consolidated financial statements to conform to the current period presentation. These reclassifications have no impact on previously reported net loss.

Recent Accounting Pronouncements

In June 2016, the FASB issued ASU 2016-13 (“ASU 2016-13”), Measurement of Credit Losses on Financial Instruments (Topic 326): Measurement of Credit Losses on Financial Instruments”. ASU 2016-13 requires companies to measure credit losses utilizing a methodology that reflects expected credit losses and requires a consideration of a broader range of reasonable and supportable information to inform credit loss estimates. ASU 2016-13 was further amended in November 2019 in “Codification Improvements to Topic 326, Financial Instruments-Credit losses”. This guidance is effective for fiscal years beginning after December 15, 2019, including those interim periods within those fiscal years. For emerging growth companies, the effective date has been extended to fiscal years beginning after December 31, 2022. The Company will adopt this ASU within the annual reporting period of December 31, 2023. The Company is currently assessing the impact of adopting this standard, but based upon its preliminary assessment, does not expect the adoption of this guidance to have a material impact on its consolidated financial statements.

ACCOUNTS RECEIVABLE, NET

6 Months Ended

Jun. 30, 2021

Receivables [Abstract]

ACCOUNTS RECEIVABLE, NET

Accounts receivable, net consisted of the following:


	As of June 30, 2021		As of December 31, 2020
Accounts receivable	$	31,032,557	$	25,766,504
Less: allowance for doubtful accounts	(723,918)		(909,182)
Accounts receivable, net	$	30,308,639	$	24,857,322

Movement of allowance for doubtful accounts is as follows:


	For the Six Months Ended
	June 30, 2021		June 30, 2020
Beginning balance	$	909,182	$	623,970
Increase (decrease) in provision for doubtful accounts	(22,945)		2,924,148
Less: write off/ (recovery)	(162,319)		(1,264,660)
Ending balance	$	723,918	$	2,283,458

LONG-TERM INVESTMENTS

6 Months Ended

Jun. 30, 2021

Equity Method Investments and Joint Ventures [Abstract]

LONG-TERM INVESTMENTS

Long-term investments consisted of the following:


	Ownership as of June 30, 2021	As of June 30, 2021		As of December 31, 2020
Asahi Food, Inc.	49%	$	625,625	$	577,164
Pt. Tamron Akuatik Produk Industri	12%	1,800,000		1,800,000
Total		$	2,425,625	$	2,377,164

The investment in Pt. Tamron Akuatik Produk Industri is accounted for using the measurement alternative under ASC 321, which is measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments, if any. The investment in Asahi Food, Inc. is accounted for under the equity method due to the fact that the Company has significant influence but does not exercise full control over this investee. The Company believes there was no impairment as of June 30, 2021 and December 31, 2020 for these investments.

PROPERTY AND EQUIPMENT, NET

6 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

Property and equipment, net consisted of the following:


	As of June 30, 2021		As of December 31, 2020
Automobiles	$	23,600,349	$	24,544,094
Building	71,285,127		71,285,127
Building improvements	10,014,650		9,807,234
Furniture and fixtures	227,430		223,996
Land	52,125,900		52,125,900
Machinery and equipment	14,224,457		13,498,211
Subtotal	171,477,913		171,484,562
Less: accumulated depreciation	(36,722,165)		(34,615,477)
Property and equipment, net	$	134,755,748	$	136,869,085

The Company acquired $102,331,567 of property and equipment resulting from an acquisition of assets from B&R Realty Group on January 17, 2020. See Note 6 for additional information.

Depreciation expense was $3,012,537 and $3,264,862 for the six month periods ended June 30, 2021 and 2020, respectively, and $1,485,846 and $1,607,452 for the three months ended June 30, 2021 and 2020, respectively.

ACQUISITION OF B&R REALTY SUBSIDIARIES

6 Months Ended

Jun. 30, 2021

Business Combination and Asset Acquisition [Abstract]

ACQUISITION OF B&R REALTY SUBSIDIARIES

On January 17, 2020, B&R Global acquired 100% equity membership interests of the subsidiaries of BRGR, which own warehouse facilities that were being leased to B&R Global for its operations in California, Arizona, Utah, Colorado, Washington, and Montana. Before the acquisition of BRGR Subsidiaries, CEO of the Company, Xiao Mou Zhang, managed and owned an 8.91% interest in BRGR. The total purchase price for the acquisition was $101,269,706, based on independent appraisals of the fair market value of the properties.

The Company notes that substantially all of the fair value of the gross assets acquired is concentrated in a group of similar assets (land and buildings all used for warehousing and distribution purposes). As such, the acquisition of BRGR Subsidiaries would be deemed an asset acquisition under ASC 805-10-55, and the total purchase price is allocated on a relative fair value basis to the net assets acquired.

Consideration for the acquisition was funded by (i) $75.6 million in mortgage-backed term loans financed under the Second Amended Credit Agreement (see Note 10 for additional information), (ii) issuance by B&R Global of a $7.0 million Unsecured Subordinated Promissory Note to BRGR maturing on January 17, 2030, and (iii) payment of $18.7 million from funds drawn from the Company’s revolving credit facility. The reissuance of the mortgage-backed term loans released BRGR from its

obligations to the lenders under the First Amended Credit Agreement (See Note 10 for additional information) and predecessor financing arrangements.

The following table presents the estimated fair value of the assets acquired and liabilities assumed at the date of acquisition:


Cash	$	265,639
Automobile	33,690
Prepaids	39,193
Land	48,734,042
Buildings	53,563,835
Total assets acquired	102,636,399

Accounts payable and accrued expenses	1,366,693
Total liabilities assumed	1,366,693
Net assets acquired	$	101,269,706

GOODWILL AND ACQUIRED INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND ACQUIRED INTANGIBLE ASSETS

Goodwill

The changes in HF Group’s carrying amount of goodwill by reporting unit are presented below:


	HF		B&R Global		Total
Balance at December 31, 2020	$	—	$	68,511,941	$	68,511,941
Impairment loss	—		—		—
Balance at June 30, 2021	$	—	$	68,511,941	$	68,511,941

The Company booked approximately $406.7 million of goodwill on December 31, 2019, resulting from the completion of Business Combination with B&R Global, which represents the excess of the purchase price over the fair value of net assets acquired. HF Group acquired 100% of the controlling interest of B&R Global, in exchange for 30,700,000 consideration shares of HF Group Common Stock, valued at $576,699,494 based upon the closing share price of the Company’s common stock at the date of Closing on November 4, 2019. The Company's policy is to test goodwill for impairment annually in the fourth quarter, or more frequently if certain triggering events or circumstances indicate it could be impaired. Potential impairment indicators include (but are not limited to) macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, other relevant entity-specific events, specific events affecting the reporting unit, or sustained decrease in share price.

Towards the end of first quarter of fiscal year 2020, the Company experienced a significant decline in business volume due to mandatory stay-at-home orders issued by governmental authorities in response to the intensification of the COVID-19 pandemic. The Company determined that the B&R Global reporting unit was very sensitive to these declines and that it was more likely than not that an impairment may exist. The Company, therefore, performed an analysis of the fair value of the B&R Global reporting unit as of March 31, 2020 using a discounted cash flow method for goodwill impairment testing purposes. Based upon the analysis, the Company concluded that the carrying value of its B&R Global reporting unit exceeded its fair value by approximately $338.2 million. As a result, the company recorded the amount as impairment loss during the first quarter of fiscal year 2020.

The Company estimated the fair values of the B&R Global reporting unit using the income approach, discounting projected future cash flows based upon management’s expectations of the current and future operating environment. The calculation of the impairment charge includes substantial fact-based determinations and estimates including weighted average cost of capital ("WACC"), future revenue, profitability, perpetual growth rates and fair values of assets and liabilities. The fair value conclusions as of March 31, 2020 for the reporting unit are highly sensitive to changes in the WACC, which consider observable data about guidelines on publicly traded companies, an estimated market participant’s expectations about capital structure and risk premiums. The Company corroborated the reasonableness of the estimated reporting unit fair values by reconciling to its enterprise value and market capitalization. The Company also observed that the WACC applied on March 31, 2020 increased significantly from the original WACC value as of the acquisition date, mainly driven by the increased risk and

volatility observed in the market. Volatility had primarily been due to concerns about demand for food distribution services, as restaurant activity in much of the country had been reduced to takeout and delivery offerings. Continued uncertainty about the removal or perpetuation of these restrictions and levels of consumer spending cause ongoing volatility.

In addition, the fair value of the goodwill is sensitive to the changes in the assumptions used in the projected cash flows, which include forecasted revenues and perpetual growth rates, among others, all of which require significant judgment by management. The Company has used recent historical performance, current forecasted financial information, and broad-based industry and economic statistics as a basis to estimate the key assumptions utilized in the discounted cash flow model. These key assumptions are inherently uncertain and require a high degree of estimation and judgment and are subject to change based on future conditions, industry and global economic and geo-political factors, and the timing and success of the Company's implementation of current strategic initiatives.

Using historic monthly sales run rate and forecasted sales run rates for the next year, the Company performed goodwill impairment assessment and concluded no further impairment is required as of June 30, 2021.

Acquired Intangible Assets

In connection with the Business Acquisition of B&R Global, HF Group acquired $188,503,000 of intangible assets, representing tradenames and customer relationships, which have an estimated amortization period of approximately 10 years and 20 years, respectively. The components of the intangible assets are as follows:


	As of June 30, 2021						As of December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Tradenames	$	29,303,000	$	(4,883,833)	$	24,419,167	$	29,303,000	$	(3,418,683)	$	25,884,317
Customer relationships	159,200,000		(13,266,667)		145,933,333		159,200,000		(9,286,667)		149,913,333
Total	$	188,503,000	$	(18,150,500)	$	170,352,500	$	188,503,000	$	(12,705,350)	$	175,797,650

The Company performed interim long-lived asset impairment evaluation as of June 30, 2021. All intangible assets were tested for recoverability at the asset group level. ASC Topic 360, Property, Plant and Equipment ("ASC 360") defines the recoverability of these assets as measured by comparison of their (or asset group) carrying amounts to future undiscounted cash flows the assets (or asset group) are expected to generate. The Company performed long-lived impairment assessment and concluded no further impairment is required as of June 30, 2021.

HF Group’s amortization expense for intangible assets was $2,722,575 and $5,445,150 for the three and six month periods respectively ended June 30, 2021 and June 30, 2020, respectively. Estimated future amortization expense for intangible assets is presented below:


Twelve months ending June 30,	Amount
2022	$	10,890,300
2023	10,890,300
2024	10,890,300
2025	10,890,300
2026	10,890,300
Thereafter	115,901,000
Total	$	170,352,500

DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS The Company utilizes interest rate swaps for the sole purpose of mitigating interest rate fluctuation risk associated to floating rate debt instruments (as defined in Note 9 Line of Credit, and Note 10 Long-Term Debt). The Company does not use any other derivative financial instruments for trading or speculative purposes. On August 20, 2019, HF Group entered into two IRS contracts with East West Bank (the "EWB IRS") for initial notional amounts of $1.05 million and $2.625 million, respectively. The EWB IRS contracts were entered into in conjunction with two mortgage term loans of corresponding amount that were priced at USD 1-month LIBOR (London Interbank Offering Rate) plus 2.25% per annum for the entire duration of the term loans. The EWB IRS contracts have fixed the two term loans at 4.23% per annum until maturity in September 2029. On December 19, 2019, HF Group entered into an IRS contract with Bank of America (the "BOA IRS") for an initial notional amount of $2.74 million in conjunction with a newly contracted mortgage term loan of corresponding amount. The term loan was contracted at USD 1-month LIBOR plus 2.15% per annum but was fixed at 4.25% per annum resulting from the corresponding BOA IRS contract. The term loan and corresponding BOA IRS contract matures in December, 2029. On June 24, 2020, HF Group entered into a forward starting IRS contract with JP Morgan Chase Bank (the "JPM IRS") for a fixed $80 million notional amount, effective from June 30, 2021 and expiring on June 30, 2025, as a means to partially hedge its existing floating rate loans exposure. On March 3, 2021, the Company unwound the JPM IRS. The contract was unwound with a view that 1-month LIBOR will continue to remain low in the foreseeable future despite the spike at the long end of the yield curve. The Company recorded a gain of $718,600 in the first quarter of 2021. The Company evaluated the above mentioned interest rate swap contracts currently in place and did not designate those as cash flow hedges. Hence, the fair value change on the aforementioned interest rate swap contracts are accounted for and recognized as change in fair value of interest rate swap contracts in the unaudited condensed consolidated statements of operations. As of June 30, 2021 and December 31, 2020, the Company has determined that the fair value of the interest rate swap obligations was $393,479 and $993,516, respectively. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as consider counterparty credit risk in its assessment of fair value. The interest rate swaps are classified as Level 3 liabilities and fair value was obtained from the respective counterparties.

LINE OF CREDIT	6 Months Ended
LINE OF CREDIT	Jun. 30, 2021
Debt Disclosure [Abstract]
LINE OF CREDIT	LINE OF CREDIT The JPM Credit Agreement provides for a $100 million asset-secured revolving credit facility maturing on November 4, 2022, with an option to renew at the bank’s discretion. The credit facility was collateralized by all assets of the Company and was also guaranteed by BRGR and BRGR Subsidiaries, which BRGR Subsidiaries were subsequently acquired by the Company on January 17, 2020 (See Note 6 for additional information). The JPM Credit Agreement was later superseded by a Second Amended and Restated Credit Agreement ("Second Amended Credit Agreement") as described below. On January 17, 2020, the Company, its wholly-owned subsidiary, B&R Global, and certain of the wholly-owned subsidiaries and affiliates of the Company as borrowers (collectively with the Company, the “Borrowers”), and certain material subsidiaries of the Company as guarantors, entered into the Second Amended Credit Agreement with JPMorgan, as Administrative Agent, and certain lender parties thereto, including Comerica Bank. The Second Amended Credit Agreement, provides for (i) a $100 million asset-secured revolving credit facility maturing on November 4, 2022 (the “Revolving Facility”), and (ii) mortgage-secured term loan of $75.6 million ("Term Loan"). The existing revolving credit facility balance of $41.2 million under the First Amended Credit Agreement, was rolled over to the Revolving Facility on January 17, 2020. On the same day, B&R Global utilized the $75.6 million Term Loan and additional $18.7 million drawdown from the Revolving Facility to fund in part the acquisition of ten warehouse facilities owned by the selling BRGR Subsidiaries, which B&R Global had been leasing for its operations in California, Arizona, Utah, Colorado, Washington, and Montana. The Second Amended Credit Agreement contained certain financial covenants and as of June 30, 2021, the Company was in compliance with the covenants under the Second Amended Credit Agreement. The outstanding principal balance on the line of credit as of June 30, 2021 was $19.1 million.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-Name Accounting Standards Codification
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+ Details

LONG-TERM DEBT

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

LONG-TERM DEBT

Long-term debt at June 30, 2021 and December 31, 2020 is as follows:


Bank name	Maturity	Interest rate as of June 30, 2021			As of June 30, 2021		As of December 31, 2020
Bank of America – (a)	November 2021 - December 2029	3.73%	—	5.51%	$	5,622,528	$	5,905,472
BMO Harris Bank N.A. – (b)	April 2022 - January 2024	5.87%	—	5.99%	194,952		280,164
East West Bank – (c)	August 2027 - September 2029	3.83%	—	4.25%	6,704,883		6,802,271
First Horizon Bank – (d)	October 2027	3.85%			4,673,127		4,773,378
J.P. Morgan Chase – (e)	February 2023 - January 2030	1.97%	—	2.09%	72,802,325		74,687,806
Peoples United Bank – (b)	December 2022 - January 2023	6.69%	—	7.53%	559,274		725,282
Other finance institutions – (b)	July 2022 - March 2024	3.90%	—	6.14%	389,476		475,689
Total debt					90,946,565		93,650,062
Less: current portion					(5,804,100)		(5,641,259)
Long-term debt					$	85,142,465	$	88,008,803

The terms of the various loan agreements related to long-term bank borrowings require the Company to comply with certain financial covenants. As of June 30, 2021 and December 31, 2020, the Company was in compliance.

The loans outstanding were guaranteed by the following properties, entities or individuals, or otherwise secured as shown:

(a)Guaranteed by two subsidiaries of the Company, NSF and BB, and also secured by real property, equipment and fixtures, inventories, receivables and all other personal property owned by NSF. Balloon payment for this long-term debt is $1,382,046.

(b)Secured by vehicles.

(c)Guaranteed by five subsidiaries of the Company, Han Feng, TT, MFD, R&N Holdings and R&N Lexington, in part by one shareholder and spouse, and also secured by assets of Han Feng and R&N Lexington and R&N Holdings, two real properties of R&N Holdings, and a parcel of real property owned by R&N Lexington. Balloon payment of $2,293,751 is due in 2027 and another balloon payment of $3,007,239 is due in 2029.

(d)Guaranteed by one shareholder and spouse, as well as Han Feng. Also secured by a real property owned by HG Realty. Balloon payment for this debt is $3,116,687.

(e)Real estate term loan with a principal balance of $71,264,205 as of June 30, 2021 is secured by assets held by nine subsidiaries of the Company, AK, BRR, BSR, FL, GSR, HP, LF, LR, and MP. Equipment term loan with a principal balance of $1,538,120 as of June 30, 2021 is secured by specific vehicles and equipment as defined in loan agreements.

The future maturities of long-term debt as of June 30, 2021 are as follows:


Twelve months ending June 30,	Amount
2022	$	5,804,100
2023	5,157,805
2024	4,177,128
2025	4,032,473
2026	4,069,472
Thereafter	67,705,587
Total	$	90,946,565

LEASES

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

LEASES

LEASESThe Company leases office space, warehouses and vacant land for building development under non-cancelable operating leases, with terms typically ranging from one to thirty years, as well as operating and finance leases for vehicles and delivery trucks,

forklifts and computer equipment with various expiration dates through 2050. The Company determines whether an arrangement is or includes an embedded lease at contract inception.

Operating lease assets and lease liabilities are recognized at commencement date and initially measured based on the present value of lease payments over the defined lease term. Lease expense is recognized on a straight-line basis over the lease term. For finance leases, the Company also recognizes finance lease assets and finance lease liabilities at inception, with lease expense recognized as interest expense and amortization of the lease payment.

Operating Leases

The components of lease expense were as follows:


	For the Three Months Ended						For the Six Months Ended
	June 30, 2021			June 30, 2020			June 30, 2021			June 30, 2020
Operating lease cost	$	513,066		$	253,820		$	1,085,201		$	756,877

Weighted Average Remaining Lease Term (Months)
Operating leases	302			34			302			34

Weighted Average Discount Rate
Operating leases	2.17		%	4.10		%	2.17		%	4.10		%

Finance Leases

The components of lease expense were as follows:


	For the Three Months Ended				For the Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Finance leases cost:
Amortization of right-of-use assets	$	80,984	$	139,687	$	168,160	$	279,373
Interest on lease liabilities	16,718		23,218		37,343		51,120
Total finance leases cost	$	97,702	$	162,905	$	205,503	$	330,493

Supplemental cash flow information related to finance leases was as follows:


	For the Three Months Ended				For the Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Operating cash flows from finance leases	$	16,718	$	23,218	$	37,343	$	51,120

Supplemental balance sheet information related to leases was as follows:


	June 30, 2021			December 31, 2020
Finance Leases
Property and equipment, at cost	$	2,793,731		$	2,793,731
Accumulated depreciation	(1,999,478)			(1,831,318)
Property and equipment, net	$	794,253		$	962,413

Weighted Average Remaining Lease Term (Months)
Finance leases	38			43

Weighted Average Discount Rate
Finance leases	7.59		%	7.56		%

Maturities of lease liabilities were as follows:


Twelve months ending June 30,	Operating Leases		Finance Leases
2022	$	1,011,964	$	336,501
2023	1,139,353		322,569
2024	964,309		274,426
2025	987,997		96,496
2026	791,576		—
Thereafter	17,396,355		—
Total Lease Payments	22,291,554		1,029,992
Less Imputed Interest	(5,750,563)		(126,570)
Total	$	16,540,991	$	903,422

On July 2, 2018, AnHeart Inc. ("AnHeart"), a former wholly-owned subsidiary of HF Holding, entered into two separate leases for two properties located in Manhattan, New York, at 273 Fifth Avenue and 275 Fifth Avenue, for 30 years and 15 years, respectively. The leases were on a triple net basis, meaning AnHeart is required to pay all costs associated with the properties, including taxes, insurance, utilities, maintenance and repairs. HF Holding provided a corporate guaranty for all rent and related costs of the leases, including costs associated with the planned construction of a two-story structure at 273 Fifth Avenue and rehabilitation of the building at 275 Fifth Avenue. The Company entered into the leases with the planned purpose of expanding its product lines to include Chinese herb supplements, and to use the sites to develop into a hub for such products. The Company has since determined to cease this business expansion in early 2019.

On February 23, 2019, HF Holding executed an agreement to divest all of its ownership interest in AnHeart to Ms. Jianping An, a resident of New York, for the sum of $20,000. The transfer of ownership was completed on May 2, 2019. However, the divestment does not release HF Holding’s guaranty of AnHeart’s obligations or liabilities under the original lease agreements. Under the terms of the sale of AnHeart stock to Ms. An, and in consideration of the Company’s ongoing guaranty of AnHeart’s performance of the lease obligations, AnHeart granted to the Company a security interest in all AnHeart assets, together with a covenant that the Company will be assigned the leases, to be exercised if AnHeart defaults on the original lease agreements. Further, Ms. An has tendered an unconditional guaranty of all AnHeart liabilities arising from the leases, in favor of the Company, executed by Minsheng Pharmaceutical Group Company, Ltd., a Chinese manufacturer and distributor of herbal medicines.

On February 10, 2021, 273 Co, a newly established Delaware limited liability company and wholly owned subsidiary of the Company, entered into an Assignment and Assumption of Lease Agreement (“Assignment”), dated effective as of January 21, 2021, with AnHeart and Premier 273 Fifth, LLC ("Landlord"), pursuant to which it has assumed the lease of the premises at 273 Fifth Avenue, New York, New York signed on July 2, 2018 (the “273 Lease Agreement”). At the same time, the closing documents were delivered to effectuate the amendment of the 273 Lease Agreement pursuant to an Amendment to Lease (the “Lease Amendment”). The Assignment and the 273 Lease Amendment were negotiated pursuant to guarantee obligations of the Company’s wholly owned subsidiary, HF Holding as guarantor under the Lease Agreement. 273 Co has agreed to observe all the covenants and conditions of the Lease Agreement, as amended, including the payment of all rents due. Under the terms of the Lease Agreement and the Assignment, 273 Co has undertaken to construct, at Company’s expense, a building on the premises, at a minimum cost of $2,500,000. The 273 Lease Agreement and the Lease Amendment provide for a term of 30 years, with option to renew for 10 additional years, at an annual rent starting at $325,000 and escalating annually throughout the term, with the annual rent in the final year of the initial term of $1,047,974. The 273 Lease Amendment further granted certain rent abatement to the premises for 2020 and 2021, including a 20% reduction of annual rent in 2021 subject to meeting certain conditions. The Lease Amendment permits subletting of the premises.

LEASES

forklifts and computer equipment with various expiration dates through 2050. The Company determines whether an arrangement is or includes an embedded lease at contract inception.

Operating Leases

The components of lease expense were as follows:


	For the Three Months Ended						For the Six Months Ended
	June 30, 2021			June 30, 2020			June 30, 2021			June 30, 2020
Operating lease cost	$	513,066		$	253,820		$	1,085,201		$	756,877

Weighted Average Remaining Lease Term (Months)
Operating leases	302			34			302			34

Weighted Average Discount Rate
Operating leases	2.17		%	4.10		%	2.17		%	4.10		%

Finance Leases

The components of lease expense were as follows:


	For the Three Months Ended				For the Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Finance leases cost:
Amortization of right-of-use assets	$	80,984	$	139,687	$	168,160	$	279,373
Interest on lease liabilities	16,718		23,218		37,343		51,120
Total finance leases cost	$	97,702	$	162,905	$	205,503	$	330,493

Supplemental cash flow information related to finance leases was as follows:


	For the Three Months Ended				For the Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Operating cash flows from finance leases	$	16,718	$	23,218	$	37,343	$	51,120

Supplemental balance sheet information related to leases was as follows:


	June 30, 2021			December 31, 2020
Finance Leases
Property and equipment, at cost	$	2,793,731		$	2,793,731
Accumulated depreciation	(1,999,478)			(1,831,318)
Property and equipment, net	$	794,253		$	962,413

Weighted Average Remaining Lease Term (Months)
Finance leases	38			43

Weighted Average Discount Rate
Finance leases	7.59		%	7.56		%

Maturities of lease liabilities were as follows:


Twelve months ending June 30,	Operating Leases		Finance Leases
2022	$	1,011,964	$	336,501
2023	1,139,353		322,569
2024	964,309		274,426
2025	987,997		96,496
2026	791,576		—
Thereafter	17,396,355		—
Total Lease Payments	22,291,554		1,029,992
Less Imputed Interest	(5,750,563)		(126,570)
Total	$	16,540,991	$	903,422

SUPPLEMENTAL CASH FLOWS INFORMATION

6 Months Ended

Jun. 30, 2021

Supplemental Cash Flow Elements [Abstract]

SUPPLEMENTAL CASH FLOWS INFORMATION

SUPPLEMENTAL CASH FLOW INFORMATIONSupplemental cash flow disclosures and noncash investing and financing activities are as follows:


	For the Six Months Ended
	June 30, 2021		June 30, 2020
Supplemental disclosure of cash flow data
Cash paid for interest	$	1,477,788	$	2,321,727
Cash paid for income taxes	$	1,897,940	$	145,905

Supplemental disclosure of non-cash investing and financing activities
Right of use assets obtained in exchange for operating lease liabilities	$	15,930,393	$	—

Property and equipment purchases from notes payable	$	257,450	$	2,528,554
Issuance of promissory note for the acquisition of B&R Realty Subsidiaries	$	—	$	7,000,000

TAXES

6 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

TAXES

Corporate Income Taxes (“CIT”)

On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (the “Act”), which significantly changed U.S. tax law. The Act lowered the Company’s U.S. statutory federal income tax rate from 35% to 21% effective January 1, 2018, while also imposing a deemed repatriation tax on deferred foreign income. The Act also created a new minimum tax on certain future foreign earnings. The Company does not expect the repatriation tax and new minimum tax on certain future foreign earnings to have any impact on the Company’s operations since it currently has no foreign income and does not expect to generate any foreign income in the future.

(i)The provision for income taxes of the Company for the three and six months ended June 30, 2021 and 2020 consists of the following:


	For the Three Months Ended				For the Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Current income taxes:
Federal	$	1,886,083	$	40,618	$	2,849,943	$	400,218
State	217,479		35,646		439,760		125,306
Current income taxes	2,103,562		76,264		3,289,703		525,524
Deferred income taxes (benefit):
Federal	(837,524)		(1,195,341)		(1,262,732)		(1,918,683)
State	111,060		(370,228)		(42,666)		(578,357)
Deferred income taxes (benefit)	(726,464)		(1,565,569)		(1,305,398)		(2,497,040)
Total provision (benefit) for income taxes	$	1,377,098	$	(1,489,305)	$	1,984,305	$	(1,971,516)

(ii)Temporary differences and carryforwards of the Company that created significant deferred tax assets and liabilities are as follows:


	As of June 30, 2021		As of December 31, 2020
Deferred tax assets:
Allowance for doubtful accounts	$	390,349	$	443,151
Inventories	613,247		481,016
Federal net operating loss	38,893		101,828
State net operating loss	11,030		257,490
Fair value change in interest rate swap contracts	70,875		244,622
Accrued expenses	294,217		268,813
Total deferred tax assets	1,418,611		1,796,920
Deferred tax liabilities:
Property and equipment	(2,383,623)		(2,660,874)
Intangibles assets	(43,901,883)		(45,461,272)
Right of Use Asset	(152,934)		—
Total deferred tax liabilities	(46,438,440)		(48,122,146)
Net deferred tax liabilities	$	(45,019,829)	$	(46,325,226)

The net deferred tax liabilities presented in the Company's unaudited condensed consolidated balance sheets are as follows:


	As of June 30, 2021		As of December 31, 2020
Deferred tax assets	$	59,079	$	57,478
Deferred tax liabilities	(45,078,908)		(46,382,704)
Net deferred tax liabilities	$	(45,019,829)	$	(46,325,226)

(iii)Reconciliations of the statutory income tax rate to the effective income tax rate are as follows:


	For the Six Months Ended
	June 30, 2021		June 30, 2020
Federal statutory tax rate	21.0	%	21.0	%
State statutory tax rate	4.3	%	0.1	%
Impact of goodwill impairment loss - permanent difference	—	%	(20.5)	%
U.S. permanent difference	1.1	%	—	%
Others	0.7	%	—	%
Effective tax rate	27.1	%	0.6	%

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 740
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-Section S99
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-Name Accounting Standards Codification
-Topic 740
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-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2021

RELATED PARTY TRANSACTIONS

The Company makes regular purchases from and sales to various related parties. Related party affiliations were attributed to transactions conducted between the Company and those business entities partially or wholly owned by the Company, the Company officers and/or major shareholders.

Certain related party transactions described in this note are among the issues that are being scrutinized as part of an ongoing internal investigation, and disclosures concerning particular transactions are subject to the outcome of, and conclusions that may ultimately be reached in, this ongoing investigation. Mr. Zhou Min Ni ("Mr. Ni") and Mr. Xiao Mou Zhang ("Mr. Zhang") were the Co-Chief Executive Officers as of December 31, 2020. Mr. Ni resigned from all of his official posts on February 23, 2021. Upon resignation, Mr. Ni directly owned 10.7% of outstanding shares of common stock of the Company. Mr. Zhang became the sole Chief Executive Officer on February 23, 2021. Mr. Ni and his immediate family members are treated as related parties for purposes of this report because Mr. Ni is a holder of more than 10% of the Company's securities.

The Company had recently evaluated Mr. Zhang's ownership interest and his relationship with certain entities that were previously classified as related parties in prior financial statements. The Company noted that four entities with ownership ranging from 5.0% to 10% and are mainly restaurants, were deemed to be non related party in nature. The Company noted that Mr. Zhang or his family members do not manage or participate in daily operations and holds no influence over those entities. Hence, the Company concluded that those entities do not fall under the definition of related party and were excluded from the classification accordingly.

The Company also determined that its 12% ownership in PT. Tamron Akuatik Produk Industri ("Tamron"), accounted for using alternative measurement under ASC 321, did not meet the definition of related party due to the fact that the Company does not participate in Tamron's daily operations and holds no influence over it.

Further, the Company evaluated Mr. Ni's ownership interest and his relationship with certain entities that were previously classified as related parties in prior financial statement. The Company noted that two entities that were previously owned by Mr. Ni, 37.67% and 100% respectively, were no longer deemed to be related party in nature. The Company noted Mr. Ni had disposed off the equity interest on January 1, 2020 and September 29, 2020, respectively. Mr. Ni or his family members do not manage or participate in daily operations and holds no influence over those entities after the disposal. Hence, the Company concluded that those entities do not fall under the definition of related party anymore, and were excluded from the classification accordingly.

As a result of the Company's evaluation described above, certain related party transactions and balances for the three and six months ended June 30, 2021 and June 30, 2020, and as of June 30, 2021 and December 31, 2020 were reclassified and removed from related party disclosure to conform to current reporting period's presentation. Other than the reclassification, there are no financial impact to the prior financial statements.

The related party transactions as of June 30, 2021 and December 31, 2020 and for the three and six month periods ended June 30, 2021 and 2020 are identified as follows:

Related Party Sales and Purchases Transactions

The Company makes regular sales to and purchases from various related parties.

a.Purchase - related parties

Below is a summary of purchases of goods and services from related parties recorded for the three months ended June 30, 2021 and 2020, respectively:


Name of Related Party		Three Months Ended June 30, 2021		Three Months Ended June 30, 2020
(a)	Best Food Services, LLC	$	2,353,900	$	873,122
(b)	Eastern Fresh NJ, LLC	1,473,617		445,572
(c)	Fujian RongFeng Plastic Co., Ltd	790,212		824,602
(d)	Hanfeng (Fujian) Information Technology Co., Ltd.	—		313,187
(e)	Ocean Pacific Seafood Group, Inc.	207,847		52,143
(f)	Revolution Industry, LLC	—		541,910
(g)	Union Food, LLC	—		162,816
	Others	70,436		65,281
Total		$	4,896,012	$	3,278,633

(a)Mr. Zhang previously owned 10.38% equity interest in this entity indirectly through its parent company as of October 31, 2020. The equity interest was transferred to 3 Irrevocable Trusts for the benefits of Mr. Zhang's children with immediate effect on November 1, 2020.

(b)Mr. Ni owns 30% equity interest in this entity.

(c)Mr. Ni owns 40% equity interest in this entity indirectly through its parent company.

(d)Mr. Ni previously owned 100% equity interest in this entity. Mr Ni disposed off the ownership and ended his legal representation of this entity on September 29, 2020.

(e)Mr. Ni owns 26% equity interest in this entity.

(f)Raymond Ni, one of Mr. Ni’s family members, owns 100% equity interest in this entity. On February 25, 2021, Han Feng executed an asset purchase agreement to acquire the machinery and equipment from Revolution Industry, LLC ("RIL"). Han Feng has acquired substantially all of the operating assets used or held for use in such business operation for an amount of $250,000 plus the original wholesale purchase value of all verified, useable cabbage and egg roll mix inventory of RIL. Advances due from RIL at the time of transaction were an offset to the purchase payment made to RIL. Going forward, Han Feng has taken the egg roll production business in house and ceased its vendor relationship with RIL.

(g)Tina Ni, one of Mr. Ni’s family members, owns 30% equity interest in this entity. Anthony Zhang, one of Mr. Xiao Mou Zhang's family member, owns 10% of equity interest in this entity.

Below is a summary of purchase from related parties for the six months ended June 30, 2021 and 2020, respectively:


Name of Related Party		Six Months Ended June 30, 2021		Six Months Ended June 30, 2020
(a)	Allstate Trading Company, Inc.	$	—	$	284,968
(b)	Best Food Services, LLC	3,487,139		2,972,685
(c)	Eastern Fresh NJ, LLC	2,968,663		2,055,177
(d)	Enson Group, Inc. (formerly "Enson Group, LLC")	127,577		—
(e)	First Choice Seafood, Inc.	159,752		336,739
(f)	Fujian RongFeng Plastic Co., Ltd	1,590,129		1,844,955
(g)	Hanfeng (Fujian) Information Technology Co., Ltd.	—		1,025,212
(h)	N&F Logistics, Inc.	2,646		368,529
(i)	Ocean Pacific Seafood Group, Inc.	338,426		233,175
(j)	Revolution Industry, LLC	189,701		1,045,702
(k)	UGO USA, Inc.	212,384		220,740
(l)	Union Foods, LLC	—		1,246,720
	Others	160,966		88,345
Total		$	9,237,383	$	11,722,947

(a)Mr. Ni owns 40% equity interest in this entity.

(b)Mr. Zhang previously owned 10.38% equity interest in this entity indirectly through its parent company as of October 31, 2020. The equity interest was transferred to 3 Irrevocable Trusts for the benefits of Mr. Zhang's children with immediate effect on November 1, 2020.

(c)Mr. Ni owns 30% equity interest in this entity.

(d)Mr. Ni owns 25% equity interest in this entity.

(e)Mr. Ni owns 25% equity interest in this entity indirectly through its parent company.

(f)Mr. Ni owns 40% equity interest in this entity indirectly through its parent company.

(g)Mr. Ni previously owned 100% equity interest in this entity. Mr Ni disposed off the ownership and ended his legal representation of this entity on September 29, 2020.

(h)Mr. Ni owns 25% equity interest in this entity.

(i)Mr. Ni owns 26% equity interest in this entity.

(j)Raymond Ni, one of Mr. Ni’s family members, owns 100% equity interest in this entity. On February 25, 2021, Han Feng executed an asset purchase agreement to acquire the machinery and equipment from Revolution Industry, LLC ("RIL"). Han Feng has acquired substantially all of the operating assets used or held for use in such business operation for an amount of $250,000 plus the original wholesale purchase value of all verified, useable cabbage and egg roll mix inventory of RIL. Advances due from RIL at the time of transaction were an offset to the purchase payment made to RIL. Going forward, Han Feng has taken the egg roll production business in house and ceased its vendor relationship with RIL.

(k)Mr. Ni owns 30% equity interest in this entity.

(l)Tina Ni, one of Mr. Ni’s family members, owns 30% equity interest in this entity. Anthony Zhang, one of Mr. Xiao Mou Zhang's family member, owns 10% of equity interest in this entity.

b. Sales - related parties

Below is a summary of sales to related parties recorded for the three months ended June 30, 2021 and 2020, respectively:


Name of Related Party		Three Months Ended June 30, 2021		Three Months Ended June 30, 2020
(a)	ABC Food Trading, LLC	$	506,306	$	169,145
(b)	Asahi Food, Inc.	223,377		103,385
(c)	Best Food Services, LLC	327,113		14,414
(d)	Eagle Food Service, LLC	1,067,346		878,396
(e)	Eastern Fresh NJ, LLC	76,145		507,821
(f)	Enson Group, Inc. (formerly "Enson Group, LLC")	26,601		123,820
(g)	Enson Seafood GA, Inc. (formerly “GA-GW Seafood, Inc.”)	553,985		—
(h)	First Choice Seafood, Inc.	7,615		1,145,984
(i)	Heng Feng Food Services, Inc.	64,878		155,705
(j)	N&F Logistics, Inc.	160,466		172,216
	Others	71,875		183,519
Total		$	3,085,707	$	3,454,405

(b)The Company, through its subsidiary MF, owns 49% equity interest in this entity.

(c)Mr. Zhang previously owned 10.38% equity interest in this entity indirectly through its parent company as of October 31, 2020. The equity interest was transferred to 3 Irrevocable Trusts for the benefits of Mr. Zhang's children with immediate effect on November 1, 2020.

(d)Tina Ni, one of Mr. Ni’s family members, owns 26.5% equity interest in this entity indirectly through its parent company.

(e)Mr. Ni owns 30% equity interest in this entity.

(f)Mr. Ni owns 25% equity interest in this entity.

(g)Mr. Ni owns 50% equity interest in this entity.

(h)Mr. Ni owns 25% equity interest in this entity indirectly through its parent company.

(i)Mr. Ni owns 45% equity interest in this entity.

(j)Mr. Ni owns 25% equity interest in this entity.

Below is a summary of sales to related parties recorded for the six months ended June 30, 2021 and 2020, respectively:


Name of Related Party		Six Months Ended June 30, 2021		Six Months Ended June 30, 2020
(a)	ABC Food Trading, LLC	$	1,220,212	$	1,048,298
(b)	Asahi Food, Inc.	341,133		221,190
(c)	Best Food Services, LLC	400,792		180,689
(d)	Eagle Food Service, LLC	2,076,021		2,437,025
(e)	Eastern Fresh NJ, LLC	99,338		1,449,294
(f)	Enson Group, Inc. (formerly "Enson Group, LLC")	53,113		272,752
(g)	Enson Seafood GA, Inc. (formerly “GA-GW Seafood, Inc.”)	554,949		40,216
(h)	First Choice Seafood, Inc.	82,144		1,378,208
(i)	Heng Feng Food Services, Inc.	104,854		527,186
(j)	N&F Logistics, Inc.	367,133		553,242
	Others	176,479		440,401
Total		$	5,476,168	$	8,548,501

(b)The Company, through its subsidiary MF, owns 49% equity interest in this entity.

(d)Tina Ni, one of Mr. Ni’s family members, owns 26.5% equity interest in this entity indirectly through its parent company.

(e)Mr. Ni owns 30% equity interest in this entity.

(f)Mr. Ni owns 25% equity interest in this entity.

(g)Mr. Ni owns 50% equity interest in this entity.

(h)Mr. Ni owns 25% equity interest in this entity indirectly through its parent company.

(i)Mr. Ni owns 45% equity interest in this entity.

(j)Mr. Ni owns 25% equity interest in this entity.

c. Lease Agreements - Related Parties

The Company leases various facilities to related parties.

R&N Holdings leased a facility to UGO USA Inc. under an operating lease agreement which was mutually terminated by both parties effective April 1, 2021. Rental income for the three months ended June 30, 2021 and 2020 was nil and $10,500, respectively, and the six months ended June 30, 2021 and 2020 was $7,000 and $21,000, respectively.

HG Realty leases a warehouse to Enson Seafood GA Inc. (formerly “GA-GW Seafood, Inc.”) under an operating lease agreement expiring on September 21, 2027. Rental income for the three months ended June 30, 2021 and 2020 was $120,000 and $120,000, respectively, and the six months ended June 30, 2021 and 2020 was $240,000 and $240,000, respectively.

B&R Global leased warehouses from related parties owned by the majority shareholder of B&R Global prior to the Realty Acquisition on January 17, 2020. Rent incurred to the related parties from January 1, 2020 to January 16, 2020 was $187,750.

In 2020, Kirnland renewed a warehouse lease from Yoan Chang Trading Inc. ("Yoan") under an operating lease agreement expiring on December 31, 2020. In February 2021, Kirnland executed a new 5-year operating lease agreement with Yoan effective January 1, 2021 and expiring on December 31, 2025. Rent incurred to the related party was $77,428 and $30,000 for the three months ended June 30, 2021 and 2020, respectively, and $154,856 and $60,000 for the six months ended June 30, 2021 and 2020, respectively.

Related Party Balances

a.Accounts receivable - related parties, net

Below is a summary of accounts receivable with related parties recorded as of June 30, 2021 and December 31, 2020, respectively:


Name of Related Party		As of June 30, 2021		As of December 31, 2020
(a)	ABC Food Trading, LLC	$	137,063	$	18,816
(b)	Asahi Food, Inc.	144,363		68,766
(c)	Best Food Services, LLC	250,153		1,250
(d)	Eagle Food Service, LLC	478,097		697,538
(e)	Eastern Fresh NJ, LLC	102,442		—
(f)	Enson Seafood GA, Inc. (formerly “GA-GW Seafood, Inc.”)	567,950		325,596
(g)	Fortune One Foods, Inc.	86,150		36,250
(h)	Heng Feng Food Services, Inc.	64,878		—
(i)	N&F Logistics, Inc.	61,940		113,247
	Others	28,379		—
Total		$	1,921,415	$	1,261,463

(b)The Company, through its subsidiary MF, owns 49% equity interest in this entity.

(d)Tina Ni, one of Mr. Ni’s family members, owns 26.5% equity interest in this entity indirectly through its parent company.

(e)Mr. Ni owns 30% equity interest in this entity.

(f)Mr. Ni owns 50% equity interest in this entity.

(g)Mr. Ni owns 17.5% equity interest in this entity indirectly through its parent company.

(h)Mr. Ni owns 45% equity interest in this entity.

(i)Mr. Ni owns 25% equity interest in this entity.

All accounts receivable from these related parties are current and considered fully collectible. No allowance is deemed necessary as of June 30, 2021 and December 31, 2020.

b. Accounts payable - related parties, net

All the accounts payable to related parties are payable upon demand without interest. Below is a summary of accounts payable with related parties recorded as of June 30, 2021 and December 31, 2020, respectively:


Name of Related Party		As of June 30, 2021		As of December 31, 2020
(a)	Best Food Services, LLC	$	479,757	$	588,920
(b)	Eastern Fresh NJ, LLC	464,106		427,795
(c)	Enson Group, Inc. (formerly "Enson Group, LLC")	75,794		25,368
(d)	Fujian RongFeng Plastic Co., Ltd	767,593		69,429
(e)	Hanfeng Information Technology (Jinhua), Inc.	—		107,258
(f)	Heng Feng Food Services, Inc.	—		116,436
(g)	UGO USA, Inc.	—		211,003
	Others	169,379		26,218
Total		$	1,956,629	$	1,572,427

(b)Mr. Ni owns 30% equity interest in this entity.

(c)Mr. Ni owns 25% equity interest in this entity.

(d)Mr. Ni owns 40% equity interest in this entity indirectly through its parent company.

(e)Mr. Ni owns 37% equity interest in this entity.

(f)Mr. Ni owns 45% equity interest in this entity.

(g)Mr. Ni owns 30% equity interest in this entity.

c. Advances to suppliers - related parties, net

The Company periodically provides purchase advances to various vendors, including the related party suppliers.

Below is a summary of advances to related party suppliers recorded as of June 30, 2021 and December 31, 2020, respectively:


Name of Related Party		As of June 30, 2021		As of December 31, 2020
(a)	Ocean Pacific Seafood Group, Inc.	$	—	$	7,101
(b)	Revolution Industry, LLC	—		189,702
Total		$	—	$	196,803

(a)Mr. Ni owns 26% equity interest in this entity.

(b)Raymond Ni, one of Mr. Ni’s family members, owns 100% equity interest in this entity. On February 25, 2021, Han Feng executed an asset purchase agreement to acquire the machinery and equipment from Revolution Industry, LLC ("RIL"). Han Feng has acquired substantially all of the operating assets used or held for use in such business operation for an amount of $250,000 plus the original wholesale purchase value of all verified, useable cabbage and egg roll mix inventory of RIL. Advances due from Revolution at the time of transaction were an offset to the purchase payment made to RIL. Going forward, Han Feng has taken the egg roll production business in house and ceased its vendor relationship with RIL.

d.Promissory note payable - related party

B&R Global issued a $7.0 million Unsecured Subordinated Promissory Note to BRGR in January 2020 as part of the payment for the acquisition of BRGR (Refer to Note 6). The note bears an interest rate of 6% per annum that matures in January 2030. At June 30, 2021, outstanding balance was $5.5 million and accrued interest payable was nil.

SEGMENT REPORTING

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

SEGMENT REPORTING

ASC 280, Segment Reporting establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments. The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s operating decision makers for making operational decisions and assessing performance as the source for determining the Company’s reportable segments. Management, including the operating decision makers, review operation results by the revenue of different customers.

On February 23, 2021, former co-CEO Zhou Min Ni resigned and Xiao Mou Zhang assumed the role of sole CEO. As a result, the Company reassessed its performance evaluation process and determined two relevant reporting segments - sales to independent restaurants and wholesale. Frequency, volume and profit margins are uniquely different between the two reporting segments. Segment reporting for the three and six months ended June 30, 2020 were re-presented below.

All the Company's revenue was generated from its business operation in the U.S.

The following table presents net sales by segment for the three and six month periods ended June 30, 2021 and 2020, respectively:


	For the Three Months Ended				For the Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Net revenue
Sales to independent restaurants	$	187,516,460	$	98,620,662	$	340,557,245	$	265,892,978
Wholesale	6,029,776		5,939,434		12,370,819		14,470,454
Total	$	193,546,236	$	104,560,096	$	352,928,064	$	280,363,432


	For the Three Months Ended June 30, 2021
	Sales to Independent Restaurants		Wholesale		Total
Revenue	$	187,516,460	$	6,029,776	$	193,546,236
Cost of revenue	$	152,284,008	$	6,127,924	$	158,411,932
Gross profit (loss)	$	35,232,452	$	(98,148)	$	35,134,304
Depreciation and amortization	$	4,126,735	$	132,699	$	4,259,434
Cash capital expenditures	$	208,614	$	6,880	$	215,494


	For the Three Months Ended June 30, 2020
	Sales to Independent Restaurants		Wholesale		Total
Revenue	$	98,620,662	$	5,939,434	$	104,560,096
Cost of revenue	$	78,415,142	$	5,532,170	$	83,947,312
Gross profit	$	20,205,520	$	407,264	$	20,612,784
Depreciation and amortization	$	4,089,634	$	246,298	$	4,335,932
Cash capital expenditures	$	46,652	$	3,060	$	49,712


	For the Six Months Ended June 30, 2021
	Sales to Independent Restaurants		Wholesale		Total
Revenue	$	340,557,245	$	12,370,819	$	352,928,064
Cost of revenue	$	276,225,791	$	12,138,378	$	288,364,169
Gross profit	$	64,331,454	$	232,441	$	64,563,895
Depreciation and amortization	$	8,257,595	$	299,959	$	8,557,554
Cash capital expenditures	$	640,404	$	23,263	$	663,667


	For the Six Months Ended June 30, 2020
	Sales to Independent Restaurants		Wholesale		Total
Revenue	$	265,892,978	$	14,470,454	$	280,363,432
Cost of revenue	$	217,144,426	$	13,631,177	$	230,775,603
Gross profit	$	48,748,552	$	839,277	$	49,587,829
Depreciation and amortization	$	8,260,460	$	449,552	$	8,710,012
Cash capital expenditures	$	199,127	$	10,837	$	209,964

The following table presents total assets by reportable segment as of June 30, 2021 and December 31, 2020, respectively:


	As of June 30, 2021		As of December 31, 2020
Total assets:
Sales to independent restaurants	$	491,418,936	$	456,775,742
Wholesale	15,802,059		27,509,341
Total Assets	$	507,220,995	$	484,285,083

All of the Company’s long-lived assets are located in the US.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

COMMITMENT AND CONTINGENCIES	6 Months Ended
COMMITMENT AND CONTINGENCIES	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENT AND CONTINGENCIES	COMMITMENT AND CONTINGENCIES From time to time, the Company is a party to various lawsuits, claims and other legal proceedings that arise in the ordinary course of business. When the Company becomes aware of a claim or potential claim, it assesses the likelihood of any loss or exposure. In accordance with authoritative guidance, the Company records loss contingencies in its financial statements only for matters in which losses are probable and can be reasonably estimated. Where a range of loss can be reasonably estimated with no best estimate in the range, the Company records the minimum estimated liability. If the loss is not probable or the amount of the loss cannot be reasonably estimated, the Company discloses the nature of the specific claim if the likelihood of a potential loss is reasonably possible and the amount involved is material. The Company continuously assesses the potential liability related to the Company’s pending litigation and revises its estimates when additional information becomes available. With respect to our outstanding legal matters, we believe that the amount or estimable range of reasonably possible loss will not, either individually or in the aggregate, have a material adverse effect on our business, consolidated financial position, results of operations, or cash flows. However, the outcome of litigation is inherently uncertain. Therefore, if one or more of these ordinary-course legal matters were resolved against us for amounts in excess of management's expectations, our results of operations and financial condition, including in a particular reporting period, could be materially adversely affected. As previously disclosed, an analyst report published in March 2020 suggested certain improprieties in the Company’s operations, many of which later became the subject of allegations in two putative class actions and two derivative actions that were filed on or after March 29, 2020 against the Company, the Company's then current directors, and/or certain of the Company’s then current officers, alleging violation of securities laws or breach of fiduciary duties in connection with claims that the Company failed to disclose in public statements that the Company engaged in certain related party transactions, that insiders and related parties were enriching themselves by misusing shareholder funds, and that the Company masked the true number of free-floating shares (the “Class Actions”). The Company intends to continue to vigorously defend these lawsuits. These cases now are all pending in the U.S. District Court for the Central District of California. A motion to dismiss the amended securities fraud complaint was filed on January 19, 2021, which is pending. The derivative actions are stayed pending the outcome of that motion to dismiss. In response to the analyst report, the Company's Board of Directors appointed a Special Committee of Independent Directors to conduct an internal independent investigation with the assistance of counsel (“Special Committee”). In addition, the SEC initiated a formal, non-public investigation of the Company, and the SEC informally requested, and later issued a subpoena for, documents and other information. The subpoena relates to but is not necessarily limited to the matters identified in the Class Actions. The Special Committee and the Company are cooperating with the SEC. The SEC and the Special Committee investigations are ongoing. There have been no changes to the status of these proceedings as described in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2020. While the Special Committee has reached no final conclusions in conjunction with its investigation, it has made a number of recommendations to management regarding improvements to Company operations and structure, including but not limited to its dealings with related parties. The Company has also instituted structural changes including the retirement of the former Co-Chief Executive Officer and Chairman of the Board. The Company now has an independent Chairman of the Board. In addition, the Company recently hired an in-house General Counsel and Chief Compliance Officer, who will report to the Chief Executive Officer and the Chairman of the Board. (See Note 17, Subsequent Events)

SUBSEQUENT EVENTS	6 Months Ended
SUBSEQUENT EVENTS	Jun. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSThe Company evaluated subsequent events through August 9, 2021, which is the date the financial statements were available to be issued.On August 2, 2021, the Company appointed Ms. Christine Chang to become the General Counsel and Chief Compliance Officer of the Company, effective as of September 8, 2021.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Basis of Presentation and Principles of Consolidation

Noncontrolling Interests

Non-controlling Interests

Use of Estimates

Uses of Estimates

price allocation and fair value of non-controlling interests with respect to business combinations, realization of deferred tax assets, and uncertain income tax positions.

Cash

CashThe Company considers all highly liquid investments purchased with a maturity of three months or shorter to be cash equivalents.

Accounts Receivable

Accounts Receivable, netAccounts receivable represent amounts due from customers in the ordinary course of business and are recorded at the invoiced amount and do not bear interest. Receivables are presented net of the allowance for doubtful accounts in the accompanying consolidated balance sheets. The Company evaluates the collectability of its accounts receivable and determines the appropriate allowance for doubtful accounts based on a combination of factors. When the Company is aware of a customer’s inability to meet its financial obligation, a specific allowance for doubtful accounts is recorded, reducing the receivable to the net amount the Company reasonably expects to collect. In addition, allowances are recorded for all other receivables based on historic collection trends, write-offs and the aging of receivables. The Company uses specific criteria to determine uncollectible receivables to be written off, including, e.g., bankruptcy filings, the referral of customer accounts to outside parties for collection, and the length that accounts remain past due.

Inventories, net

Inventories, netThe Company’s inventories, consisting mainly of food and other food service-related products, are considered as finished goods. Inventory costs, including the purchase price of the product and freight charges to deliver it to the Company’s warehouses, are net of certain cash or non-cash consideration received from vendors. The Company assesses the need for valuation allowances for slow-moving, excess and obsolete inventories by estimating the net recoverable value of such goods based upon inventory category, inventory age, specifically identified items, and overall economic conditions. Inventories are stated at the lower of cost or net realizable value using the first-in, first-out (FIFO) method.

Property and Equipment, net


	Estimated Useful Lives (Years)
Automobiles	3	—	7
Buildings and improvements	7	—	39
Furniture and fixtures	4	—	10
Machinery and equipment	3	—	10

Business Combinations

Goodwill

Intangible Assets

Intangible AssetsIntangible assets are carried at cost and amortized on a straight-line basis over their estimated useful lives. The Company determines the appropriate useful life of its intangible assets by measuring the expected cash flows of acquired assets.

Long-term Investments

The Company’s investments in unconsolidated entities consist of equity investment and investment without readily determinable fair value.

Impairment of Long-lived Assets Other Than Goodwill

Impairment of Long-lived Assets Other Than GoodwillThe Company assesses its long-lived assets such as property and equipment for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Factors which may indicate potential impairment include a significant underperformance related to the historical or projected future operating results or a significant negative industry or economic trend. Recoverability of these assets is measured by comparison of their carrying amounts to future undiscounted cash flows the assets are expected to generate. If property and equipment, and intangible assets are considered to be impaired, the impairment to be recognized equals the amount by which the carrying value of the assets exceeds their fair value.

Revenue Recognition

Shipping and Handling Costs

Shipping and Handling CostsShipping and handling costs, which include costs related to the selection of products and their delivery to customers, are included in distribution, selling and administrative expenses.

Income Taxes

Leases

The Company accounts for leases following ASU 2016-02, Leases (Topic 842) ("Topic 842").

Earnings Per Share

Earnings Per ShareThe Company computes earnings per share (“EPS”) in accordance with ASC Topic 260 (“ASC 260”), Earnings per Share. ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.

Fair Value of Financial Instruments

•Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.

Derivative Financial Instrument

Derivative Financial InstrumentIn accordance with the guidance in ASC Topic 815 ("ASC 815"), Derivatives and Hedging, derivative financial instruments are recognized as assets or liabilities on the unaudited condensed consolidated balance sheets at fair value. The Company has not designated its interest rate swap ("IRS") contracts as hedges for accounting treatment. Pursuant to U.S. GAAP, income or loss from fair value changes for derivatives that are not designated as hedges by management are reflected as income or loss on the statement of operations. Net amounts received or paid under the interest rate swap contracts are recognized as an increase or decrease to interest expense when such amounts are incurred. The Company is exposed to credit loss in the event of nonperformance by the counterparty.

Concentrations and Credit Risk

Credit risk

Reclassifications

Recent Accounting Pronouncements

ORGANIZATION AND BUSINESS DESCRIPTION (Tables)

6 Months Ended

Jun. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Business Acquisitions, by Acquisition

Name

Date of Formation /
Incorporation

Place of Formation /
Incorporation

Percentage
of Legal
Ownership
by HF Group

Principal Activities

Parent:

HF Holding

October 11, 2017

North Carolina, USA

100%

Holding Company

Subsidiaries:

Han Feng

January 14, 1997

North Carolina, USA

100%

Foodservice distributor

Kirnland

April 11, 2006

Georgia, USA

100%

Foodservice distributor

NSF

December 17, 2008

Florida, USA

100%

Foodservice distributor

HFFI

December 10, 2019

North Carolina, USA

60%

Food processing company

Chinesetg

July 12, 2011

New York, USA

100%

Design and printing services provider

Kirnsway

May 24, 2006

North Carolina, USA

100%

Design and printing services provider

September 12, 2001

Florida, USA

100%

Logistic service provider

MFD

April 15, 1999

North Carolina, USA

100%

Logistic service provider

August 6, 2002

North Carolina, USA

100%

Logistic service provider

HG Realty

May 11, 2012

Georgia, USA

100%

Real estate holding company

R&N Charlotte

July 10, 2019

North Carolina, USA

100%

Real estate holding company

R&N Holdings

November 21, 2002

North Carolina, USA

100%

Real estate holding company

R&N Lexington

May 27, 2010

North Carolina, USA

100%

Real estate holding company

273 Co

October 10, 2020

Delaware, USA

100%

Real estate lease holding company

The following table summarizes the entities under B&R Global in the Business Combination:

Name

Date of Formation /
Incorporation

Place of Formation /
Incorporation

Percentage
of Legal
Ownership
by B&R
Global

Principal Activities

Parent:

B&R Global

January 3, 2014

Delaware, USA

—

Holding Company

Subsidiaries:

B&L Trading, LLC (“BNL”)

July 18, 2013

Washington, USA

100%

Foodservice distributor

Capital Trading, LLC (“UT”)

March 10, 2003

Utah, USA

100%

Foodservice distributor

Great Wall Seafood LA, LLC (“GW”)

March 7, 2014

California, USA

100%

Foodservice distributor

Min Food Inc. (“MIN”)

May 29, 2014

California, USA

60.25%

Foodservice distributor

Monterey Food Service, LLC (“MS”)

September 14, 2017

California, USA

65%

Foodservice distributor

Mountain Food, LLC (“MF”)

May 2, 2006

Colorado, USA

100%

Foodservice distributor

Ocean West Food Services, LLC (“OW”)

December 22, 2011

California, USA

67.5%

Foodservice distributor

R & C Trading, L.L.C. (“RNC”)

November 26, 2007

Arizona, USA

100%

Foodservice distributor

Rongcheng Trading, LLC (“RC”)

January 31, 2006

California, USA

100%

Foodservice distributor

Win Woo Trading, LLC (‘WW”)

January 23, 2004

California, USA

100%

Foodservice distributor

Irwindale Poultry, LLC (“IP”)

December 27, 2017

California, USA

100%

Poultry processing company

Lin’s Farms, LLC (“LNF”)

July 2, 2014

Utah, USA

100%

Poultry processing company

Kami Trading Inc. (“KAMI”)

November 20, 2013

California, USA

100%

Import service provider

American Fortune Foods Inc. (“AF”)

February 19, 2014

California, USA

100%

Logistic and import service provider

B&R Group Logistics Holding LLC (“BRGL”)

July 17, 2014

Delaware, USA

100%

Logistic service provider

Best Choice Trucking, LLC (“BCT”)

January 1, 2011

California, USA

100%

Logistic service provider

Fuso Trucking Corp. (“FUSO”)

January 20, 2015

California, USA

VIE*

Logistic service provider

GM Food Supplies, Inc. (“GM”)

March 22, 2016

California, USA

100%

Logistic service provider

Golden Well Inc. (“GWT”)

November 8, 2011

California, USA

100%

Logistic service provider

Happy FM Group, Inc. (“HFM”)

April 9, 2014

California, USA

100%

Logistic service provider

Hayward Trucking, Inc. (“HRT”)

September 5, 2012

California, USA

100%

Logistic service provider

KYL Group, Inc. (“KYL”)

April 18, 2014

Nevada, USA

100%

Logistic service provider

Lin’s Distribution Inc., Inc. (“LIN”)

February 2, 2010

Utah, USA

100%

Logistic service provider

MF Food Services, Inc. (“MFS”)

December 21, 2017

California, USA

100%

Logistic service provider

New Berry Trading, LLC (“NBT”)

September 5, 2012

California, USA

100%

Logistic service provider

Royal Service, Inc. (“RS”)

December 29, 2014

Oregon, USA

100%

Logistic service provider

Royal Trucking Services, Inc. (“RTS”)

May 19, 2015

Washington, USA

100%

Logistic service provider

Yi Z Service LLC (“YZ”)

October 2, 2017

California, USA

100%

Logistic service provider

The following table summarizes B&R Global’s additional wholly owned subsidiaries as a result of the Realty Acquisition:

Name

Date of Formation /
Incorporation

Place of Formation /
Incorporation

Percentage of Legal
Ownership by B&R Global

Principal Activities

A & Kie, LLC ("AK")

March 26, 2010

Arizona, USA

100%

Real estate holding company

B & R Realty, LLC ("BRR")

August 28, 2013

California, USA

100%

Real estate holding company

Big Sea Realty, LLC ("BSR")

April 3, 2013

Washington, USA

100%

Real estate holding company

Fortune Liberty, LLC ("FL")

November 22, 2006

Utah, USA

100%

Real estate holding company

Genstar Realty, LLC ("GSR")

February 27, 2012

California, USA

100%

Real estate holding company

Hardin St Properties, LLC ("HP")

December 5, 2012

Montana, USA

100%

Real estate holding company

Lenfa Food, LLC ("LF")

February 14, 2002

Colorado, USA

100%

Real estate holding company

Lucky Realty, LLC ("LR")

September 3, 2003

California, USA

100%

Real estate holding company

Murray Properties, LLC ("MP")

February 27, 2013

Utah, USA

100%

Real estate holding company

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Schedule of Variable Interest Entities


	June 30, 2021		December 31, 2020
Current assets	$	388,729	$	47,822
Non-current assets	97,946		115,934
Total assets	$	486,675	$	163,756

Current liabilities	$	655,401	$	496,234
Non-current liabilities	26,548		39,475
Total liabilities	$	681,949	$	535,709


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2021		2020		2021		2020
Net revenue	$	747,831	$	415,377	$	1,201,005	$	1,081,805
Net income	$	150,584	$	34,667	$	176,679	$	99,445


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2021		2020		2021		2020
Net cash provided by (used in) operating activities	$	(34,231)	$	19,978	$	52,512	$	334,202
Net cash provided by (used in) financing activities	(6,586)		(23,475)		9,855		(245,612)
Net increase (decrease) in cash and cash equivalents	$	(40,817)	$	(3,497)	$	62,367	$	88,590

Schedule of Noncontrolling Interest

As of June 30, 2021 and December 31, 2020, non-controlling interests consisted of the following:


Name of Entity	Percentage of Non-controlling Interest Ownership	June 30, 2021		December 31, 2020
Kirnland	—%	$	—	$	1,384,780
MIN	39.75%	1,116,222		889,596
MS	35.00%	451,673		459,816
OW	32.50%	1,713,699		1,633,355
Total		$	3,281,594	$	4,367,547

Useful Lives of Property, Plant, and Equipment

Following are the estimated useful lives of the Company’s property and equipment:


	Estimated Useful Lives (Years)
Automobiles	3	—	7
Buildings and improvements	7	—	39
Furniture and fixtures	4	—	10
Machinery and equipment	3	—	10

Useful Live of Finite-lived Intangible Assets

The estimated useful lives of intangible assets are as follows:


			Estimated Useful Lives (Years)
Tradenames			10
Customer relationships			20

Disaggregation of Revenue

The following table summarizes disaggregated revenue from customers by geographic locations:


	For the Three Months Ended				For the Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Arizona	$	12,376,972	$	6,914,288	$	23,516,574	$	16,926,037
California	71,711,341		34,492,561		124,782,760		102,157,517
Colorado	11,027,852		7,532,674		20,503,418		16,441,667
Florida	22,711,792		11,309,093		42,610,687		30,394,902
Georgia	16,632,853		8,072,633		31,241,879		22,174,887
North Carolina	33,703,273		21,266,959		63,216,780		50,984,476
Utah	13,584,123		10,294,374		26,919,728		25,292,749
Washington	11,798,030		4,677,514		20,136,238		15,991,197
Total	$	193,546,236	$	104,560,096	$	352,928,064	$	280,363,432

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

ACCOUNTS RECEIVABLE, NET (Tables)

6 Months Ended

Jun. 30, 2021

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Accounts receivable, net consisted of the following:


	As of June 30, 2021		As of December 31, 2020
Accounts receivable	$	31,032,557	$	25,766,504
Less: allowance for doubtful accounts	(723,918)		(909,182)
Accounts receivable, net	$	30,308,639	$	24,857,322

Financing Receivable, Allowance for Credit Loss

Movement of allowance for doubtful accounts is as follows:


	For the Six Months Ended
	June 30, 2021		June 30, 2020
Beginning balance	$	909,182	$	623,970
Increase (decrease) in provision for doubtful accounts	(22,945)		2,924,148
Less: write off/ (recovery)	(162,319)		(1,264,660)
Ending balance	$	723,918	$	2,283,458

LONG-TERM INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2021

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Long-term Investments

Long-term investments consisted of the following:


	Ownership as of June 30, 2021	As of June 30, 2021		As of December 31, 2020
Asahi Food, Inc.	49%	$	625,625	$	577,164
Pt. Tamron Akuatik Produk Industri	12%	1,800,000		1,800,000
Total		$	2,425,625	$	2,377,164

PROPERTY AND EQUIPMENT, NET (Tables)

6 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment, net consisted of the following:


	As of June 30, 2021		As of December 31, 2020
Automobiles	$	23,600,349	$	24,544,094
Building	71,285,127		71,285,127
Building improvements	10,014,650		9,807,234
Furniture and fixtures	227,430		223,996
Land	52,125,900		52,125,900
Machinery and equipment	14,224,457		13,498,211
Subtotal	171,477,913		171,484,562
Less: accumulated depreciation	(36,722,165)		(34,615,477)
Property and equipment, net	$	134,755,748	$	136,869,085

ACQUISITION OF B&R REALTY SUBSIDIARIES (Tables)

6 Months Ended

Jun. 30, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed Associated with B&R Realty, LLC

The following table presents the estimated fair value of the assets acquired and liabilities assumed at the date of acquisition:


Cash	$	265,639
Automobile	33,690
Prepaids	39,193
Land	48,734,042
Buildings	53,563,835
Total assets acquired	102,636,399

Accounts payable and accrued expenses	1,366,693
Total liabilities assumed	1,366,693
Net assets acquired	$	101,269,706

GOODWILL AND ACQUIRED INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in HF Group’s carrying amount of goodwill by reporting unit are presented below:


	HF		B&R Global		Total
Balance at December 31, 2020	$	—	$	68,511,941	$	68,511,941
Impairment loss	—		—		—
Balance at June 30, 2021	$	—	$	68,511,941	$	68,511,941

Schedule of Finite-Lived Intangible Assets

The components of the intangible assets are as follows:


	As of June 30, 2021						As of December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Tradenames	$	29,303,000	$	(4,883,833)	$	24,419,167	$	29,303,000	$	(3,418,683)	$	25,884,317
Customer relationships	159,200,000		(13,266,667)		145,933,333		159,200,000		(9,286,667)		149,913,333
Total	$	188,503,000	$	(18,150,500)	$	170,352,500	$	188,503,000	$	(12,705,350)	$	175,797,650

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated future amortization expense for intangible assets is presented below:


Twelve months ending June 30,	Amount
2022	$	10,890,300
2023	10,890,300
2024	10,890,300
2025	10,890,300
2026	10,890,300
Thereafter	115,901,000
Total	$	170,352,500

LONG-TERM DEBT (Tables)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt at June 30, 2021 and December 31, 2020 is as follows:


Bank name	Maturity	Interest rate as of June 30, 2021			As of June 30, 2021		As of December 31, 2020
Bank of America – (a)	November 2021 - December 2029	3.73%	—	5.51%	$	5,622,528	$	5,905,472
BMO Harris Bank N.A. – (b)	April 2022 - January 2024	5.87%	—	5.99%	194,952		280,164
East West Bank – (c)	August 2027 - September 2029	3.83%	—	4.25%	6,704,883		6,802,271
First Horizon Bank – (d)	October 2027	3.85%			4,673,127		4,773,378
J.P. Morgan Chase – (e)	February 2023 - January 2030	1.97%	—	2.09%	72,802,325		74,687,806
Peoples United Bank – (b)	December 2022 - January 2023	6.69%	—	7.53%	559,274		725,282
Other finance institutions – (b)	July 2022 - March 2024	3.90%	—	6.14%	389,476		475,689
Total debt					90,946,565		93,650,062
Less: current portion					(5,804,100)		(5,641,259)
Long-term debt					$	85,142,465	$	88,008,803

The loans outstanding were guaranteed by the following properties, entities or individuals, or otherwise secured as shown:

(b)Secured by vehicles.

(d)Guaranteed by one shareholder and spouse, as well as Han Feng. Also secured by a real property owned by HG Realty. Balloon payment for this debt is $3,116,687.

Schedule of Maturities of Long-term Debt

The future maturities of long-term debt as of June 30, 2021 are as follows:


Twelve months ending June 30,	Amount
2022	$	5,804,100
2023	5,157,805
2024	4,177,128
2025	4,032,473
2026	4,069,472
Thereafter	67,705,587
Total	$	90,946,565

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

LEASES (Tables)

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

Components of Lease Expense

Operating Leases

The components of lease expense were as follows:


	For the Three Months Ended						For the Six Months Ended
	June 30, 2021			June 30, 2020			June 30, 2021			June 30, 2020
Operating lease cost	$	513,066		$	253,820		$	1,085,201		$	756,877

Weighted Average Remaining Lease Term (Months)
Operating leases	302			34			302			34

Weighted Average Discount Rate
Operating leases	2.17		%	4.10		%	2.17		%	4.10		%

Finance Leases

The components of lease expense were as follows:


	For the Three Months Ended				For the Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Finance leases cost:
Amortization of right-of-use assets	$	80,984	$	139,687	$	168,160	$	279,373
Interest on lease liabilities	16,718		23,218		37,343		51,120
Total finance leases cost	$	97,702	$	162,905	$	205,503	$	330,493

Operating and Finance Leases, Supplemental Cash Flow Information

Supplemental cash flow information related to finance leases was as follows:


	For the Three Months Ended				For the Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Operating cash flows from finance leases	$	16,718	$	23,218	$	37,343	$	51,120

Operating and Finance Leases, Supplemental Balance Sheet Information

Supplemental balance sheet information related to leases was as follows:


	June 30, 2021			December 31, 2020
Finance Leases
Property and equipment, at cost	$	2,793,731		$	2,793,731
Accumulated depreciation	(1,999,478)			(1,831,318)
Property and equipment, net	$	794,253		$	962,413

Weighted Average Remaining Lease Term (Months)
Finance leases	38			43

Weighted Average Discount Rate
Finance leases	7.59		%	7.56		%

Schedule of Lease Maturities

Maturities of lease liabilities were as follows:


Twelve months ending June 30,	Operating Leases		Finance Leases
2022	$	1,011,964	$	336,501
2023	1,139,353		322,569
2024	964,309		274,426
2025	987,997		96,496
2026	791,576		—
Thereafter	17,396,355		—
Total Lease Payments	22,291,554		1,029,992
Less Imputed Interest	(5,750,563)		(126,570)
Total	$	16,540,991	$	903,422

SUPPLEMENTAL CASH FLOWS INFORMATION (Tables)

6 Months Ended

Jun. 30, 2021

Supplemental Cash Flow Elements [Abstract]

Schedule of Cash Flow, Supplemental Disclosures

Supplemental cash flow disclosures and noncash investing and financing activities are as follows:


	For the Six Months Ended
	June 30, 2021		June 30, 2020
Supplemental disclosure of cash flow data
Cash paid for interest	$	1,477,788	$	2,321,727
Cash paid for income taxes	$	1,897,940	$	145,905

Supplemental disclosure of non-cash investing and financing activities
Right of use assets obtained in exchange for operating lease liabilities	$	15,930,393	$	—

Property and equipment purchases from notes payable	$	257,450	$	2,528,554
Issuance of promissory note for the acquisition of B&R Realty Subsidiaries	$	—	$	7,000,000

TAXES (Tables)

6 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Federal Income Tax Note

The provision for income taxes of the Company for the three and six months ended June 30, 2021 and 2020 consists of the following:


	For the Three Months Ended				For the Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Current income taxes:
Federal	$	1,886,083	$	40,618	$	2,849,943	$	400,218
State	217,479		35,646		439,760		125,306
Current income taxes	2,103,562		76,264		3,289,703		525,524
Deferred income taxes (benefit):
Federal	(837,524)		(1,195,341)		(1,262,732)		(1,918,683)
State	111,060		(370,228)		(42,666)		(578,357)
Deferred income taxes (benefit)	(726,464)		(1,565,569)		(1,305,398)		(2,497,040)
Total provision (benefit) for income taxes	$	1,377,098	$	(1,489,305)	$	1,984,305	$	(1,971,516)

Schedule of Deferred Tax Assets and Liabilities

Temporary differences and carryforwards of the Company that created significant deferred tax assets and liabilities are as follows:


	As of June 30, 2021		As of December 31, 2020
Deferred tax assets:
Allowance for doubtful accounts	$	390,349	$	443,151
Inventories	613,247		481,016
Federal net operating loss	38,893		101,828
State net operating loss	11,030		257,490
Fair value change in interest rate swap contracts	70,875		244,622
Accrued expenses	294,217		268,813
Total deferred tax assets	1,418,611		1,796,920
Deferred tax liabilities:
Property and equipment	(2,383,623)		(2,660,874)
Intangibles assets	(43,901,883)		(45,461,272)
Right of Use Asset	(152,934)		—
Total deferred tax liabilities	(46,438,440)		(48,122,146)
Net deferred tax liabilities	$	(45,019,829)	$	(46,325,226)

The net deferred tax liabilities presented in the Company's unaudited condensed consolidated balance sheets are as follows:


	As of June 30, 2021		As of December 31, 2020
Deferred tax assets	$	59,079	$	57,478
Deferred tax liabilities	(45,078,908)		(46,382,704)
Net deferred tax liabilities	$	(45,019,829)	$	(46,325,226)

Schedule of Effective Income Tax Rate Reconciliation

Reconciliations of the statutory income tax rate to the effective income tax rate are as follows:


	For the Six Months Ended
	June 30, 2021		June 30, 2020
Federal statutory tax rate	21.0	%	21.0	%
State statutory tax rate	4.3	%	0.1	%
Impact of goodwill impairment loss - permanent difference	—	%	(20.5)	%
U.S. permanent difference	1.1	%	—	%
Others	0.7	%	—	%
Effective tax rate	27.1	%	0.6	%

RELATED PARTY TRANSACTIONS (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of Purchases With Related Parties

Below is a summary of purchases of goods and services from related parties recorded for the three months ended June 30, 2021 and 2020, respectively:


Name of Related Party		Three Months Ended June 30, 2021		Three Months Ended June 30, 2020
(a)	Best Food Services, LLC	$	2,353,900	$	873,122
(b)	Eastern Fresh NJ, LLC	1,473,617		445,572
(c)	Fujian RongFeng Plastic Co., Ltd	790,212		824,602
(d)	Hanfeng (Fujian) Information Technology Co., Ltd.	—		313,187
(e)	Ocean Pacific Seafood Group, Inc.	207,847		52,143
(f)	Revolution Industry, LLC	—		541,910
(g)	Union Food, LLC	—		162,816
	Others	70,436		65,281
Total		$	4,896,012	$	3,278,633

(b)Mr. Ni owns 30% equity interest in this entity.

(c)Mr. Ni owns 40% equity interest in this entity indirectly through its parent company.

(d)Mr. Ni previously owned 100% equity interest in this entity. Mr Ni disposed off the ownership and ended his legal representation of this entity on September 29, 2020.

(e)Mr. Ni owns 26% equity interest in this entity.

(g)Tina Ni, one of Mr. Ni’s family members, owns 30% equity interest in this entity. Anthony Zhang, one of Mr. Xiao Mou Zhang's family member, owns 10% of equity interest in this entity.

Below is a summary of purchase from related parties for the six months ended June 30, 2021 and 2020, respectively:


Name of Related Party		Six Months Ended June 30, 2021		Six Months Ended June 30, 2020
(a)	Allstate Trading Company, Inc.	$	—	$	284,968
(b)	Best Food Services, LLC	3,487,139		2,972,685
(c)	Eastern Fresh NJ, LLC	2,968,663		2,055,177
(d)	Enson Group, Inc. (formerly "Enson Group, LLC")	127,577		—
(e)	First Choice Seafood, Inc.	159,752		336,739
(f)	Fujian RongFeng Plastic Co., Ltd	1,590,129		1,844,955
(g)	Hanfeng (Fujian) Information Technology Co., Ltd.	—		1,025,212
(h)	N&F Logistics, Inc.	2,646		368,529
(i)	Ocean Pacific Seafood Group, Inc.	338,426		233,175
(j)	Revolution Industry, LLC	189,701		1,045,702
(k)	UGO USA, Inc.	212,384		220,740
(l)	Union Foods, LLC	—		1,246,720
	Others	160,966		88,345
Total		$	9,237,383	$	11,722,947

(a)Mr. Ni owns 40% equity interest in this entity.

(c)Mr. Ni owns 30% equity interest in this entity.

(d)Mr. Ni owns 25% equity interest in this entity.

(e)Mr. Ni owns 25% equity interest in this entity indirectly through its parent company.

(f)Mr. Ni owns 40% equity interest in this entity indirectly through its parent company.

(g)Mr. Ni previously owned 100% equity interest in this entity. Mr Ni disposed off the ownership and ended his legal representation of this entity on September 29, 2020.

(h)Mr. Ni owns 25% equity interest in this entity.

(i)Mr. Ni owns 26% equity interest in this entity.

(k)Mr. Ni owns 30% equity interest in this entity.

(l)Tina Ni, one of Mr. Ni’s family members, owns 30% equity interest in this entity. Anthony Zhang, one of Mr. Xiao Mou Zhang's family member, owns 10% of equity interest in this entity.

Schedule of Revenue With Related Parties

Below is a summary of sales to related parties recorded for the three months ended June 30, 2021 and 2020, respectively:


Name of Related Party		Three Months Ended June 30, 2021		Three Months Ended June 30, 2020
(a)	ABC Food Trading, LLC	$	506,306	$	169,145
(b)	Asahi Food, Inc.	223,377		103,385
(c)	Best Food Services, LLC	327,113		14,414
(d)	Eagle Food Service, LLC	1,067,346		878,396
(e)	Eastern Fresh NJ, LLC	76,145		507,821
(f)	Enson Group, Inc. (formerly "Enson Group, LLC")	26,601		123,820
(g)	Enson Seafood GA, Inc. (formerly “GA-GW Seafood, Inc.”)	553,985		—
(h)	First Choice Seafood, Inc.	7,615		1,145,984
(i)	Heng Feng Food Services, Inc.	64,878		155,705
(j)	N&F Logistics, Inc.	160,466		172,216
	Others	71,875		183,519
Total		$	3,085,707	$	3,454,405

(b)The Company, through its subsidiary MF, owns 49% equity interest in this entity.

(d)Tina Ni, one of Mr. Ni’s family members, owns 26.5% equity interest in this entity indirectly through its parent company.

(e)Mr. Ni owns 30% equity interest in this entity.

(f)Mr. Ni owns 25% equity interest in this entity.

(g)Mr. Ni owns 50% equity interest in this entity.

(h)Mr. Ni owns 25% equity interest in this entity indirectly through its parent company.

(i)Mr. Ni owns 45% equity interest in this entity.

(j)Mr. Ni owns 25% equity interest in this entity.

Below is a summary of sales to related parties recorded for the six months ended June 30, 2021 and 2020, respectively:


Name of Related Party		Six Months Ended June 30, 2021		Six Months Ended June 30, 2020
(a)	ABC Food Trading, LLC	$	1,220,212	$	1,048,298
(b)	Asahi Food, Inc.	341,133		221,190
(c)	Best Food Services, LLC	400,792		180,689
(d)	Eagle Food Service, LLC	2,076,021		2,437,025
(e)	Eastern Fresh NJ, LLC	99,338		1,449,294
(f)	Enson Group, Inc. (formerly "Enson Group, LLC")	53,113		272,752
(g)	Enson Seafood GA, Inc. (formerly “GA-GW Seafood, Inc.”)	554,949		40,216
(h)	First Choice Seafood, Inc.	82,144		1,378,208
(i)	Heng Feng Food Services, Inc.	104,854		527,186
(j)	N&F Logistics, Inc.	367,133		553,242
	Others	176,479		440,401
Total		$	5,476,168	$	8,548,501

(b)The Company, through its subsidiary MF, owns 49% equity interest in this entity.

(d)Tina Ni, one of Mr. Ni’s family members, owns 26.5% equity interest in this entity indirectly through its parent company.

(e)Mr. Ni owns 30% equity interest in this entity.

(f)Mr. Ni owns 25% equity interest in this entity.

(g)Mr. Ni owns 50% equity interest in this entity.

(h)Mr. Ni owns 25% equity interest in this entity indirectly through its parent company.

(i)Mr. Ni owns 45% equity interest in this entity.

(j)Mr. Ni owns 25% equity interest in this entity.

Schedule of Accounts Receivable With Related Parties

Below is a summary of accounts receivable with related parties recorded as of June 30, 2021 and December 31, 2020, respectively:


Name of Related Party		As of June 30, 2021		As of December 31, 2020
(a)	ABC Food Trading, LLC	$	137,063	$	18,816
(b)	Asahi Food, Inc.	144,363		68,766
(c)	Best Food Services, LLC	250,153		1,250
(d)	Eagle Food Service, LLC	478,097		697,538
(e)	Eastern Fresh NJ, LLC	102,442		—
(f)	Enson Seafood GA, Inc. (formerly “GA-GW Seafood, Inc.”)	567,950		325,596
(g)	Fortune One Foods, Inc.	86,150		36,250
(h)	Heng Feng Food Services, Inc.	64,878		—
(i)	N&F Logistics, Inc.	61,940		113,247
	Others	28,379		—
Total		$	1,921,415	$	1,261,463

(b)The Company, through its subsidiary MF, owns 49% equity interest in this entity.

(d)Tina Ni, one of Mr. Ni’s family members, owns 26.5% equity interest in this entity indirectly through its parent company.

(e)Mr. Ni owns 30% equity interest in this entity.

(f)Mr. Ni owns 50% equity interest in this entity.

(g)Mr. Ni owns 17.5% equity interest in this entity indirectly through its parent company.

(h)Mr. Ni owns 45% equity interest in this entity.

(i)Mr. Ni owns 25% equity interest in this entity.

Schedule of Accounts Payable With Related Parties

Below is a summary of accounts payable with related parties recorded as of June 30, 2021 and December 31, 2020, respectively:


Name of Related Party		As of June 30, 2021		As of December 31, 2020
(a)	Best Food Services, LLC	$	479,757	$	588,920
(b)	Eastern Fresh NJ, LLC	464,106		427,795
(c)	Enson Group, Inc. (formerly "Enson Group, LLC")	75,794		25,368
(d)	Fujian RongFeng Plastic Co., Ltd	767,593		69,429
(e)	Hanfeng Information Technology (Jinhua), Inc.	—		107,258
(f)	Heng Feng Food Services, Inc.	—		116,436
(g)	UGO USA, Inc.	—		211,003
	Others	169,379		26,218
Total		$	1,956,629	$	1,572,427

(b)Mr. Ni owns 30% equity interest in this entity.

(c)Mr. Ni owns 25% equity interest in this entity.

(d)Mr. Ni owns 40% equity interest in this entity indirectly through its parent company.

(e)Mr. Ni owns 37% equity interest in this entity.

(f)Mr. Ni owns 45% equity interest in this entity.

(g)Mr. Ni owns 30% equity interest in this entity.

Schedule of Advances to Suppliers With Related Parties

Below is a summary of advances to related party suppliers recorded as of June 30, 2021 and December 31, 2020, respectively:


Name of Related Party		As of June 30, 2021		As of December 31, 2020
(a)	Ocean Pacific Seafood Group, Inc.	$	—	$	7,101
(b)	Revolution Industry, LLC	—		189,702
Total		$	—	$	196,803

(a)Mr. Ni owns 26% equity interest in this entity.

SEGMENT REPORTING (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Schedule of Revenue by Major Customers by Reporting Segments

The following table presents net sales by segment for the three and six month periods ended June 30, 2021 and 2020, respectively:


	For the Three Months Ended				For the Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Net revenue
Sales to independent restaurants	$	187,516,460	$	98,620,662	$	340,557,245	$	265,892,978
Wholesale	6,029,776		5,939,434		12,370,819		14,470,454
Total	$	193,546,236	$	104,560,096	$	352,928,064	$	280,363,432

Revenue from External Customers by Geographic Areas


	For the Three Months Ended June 30, 2021
	Sales to Independent Restaurants		Wholesale		Total
Revenue	$	187,516,460	$	6,029,776	$	193,546,236
Cost of revenue	$	152,284,008	$	6,127,924	$	158,411,932
Gross profit (loss)	$	35,232,452	$	(98,148)	$	35,134,304
Depreciation and amortization	$	4,126,735	$	132,699	$	4,259,434
Cash capital expenditures	$	208,614	$	6,880	$	215,494


	For the Three Months Ended June 30, 2020
	Sales to Independent Restaurants		Wholesale		Total
Revenue	$	98,620,662	$	5,939,434	$	104,560,096
Cost of revenue	$	78,415,142	$	5,532,170	$	83,947,312
Gross profit	$	20,205,520	$	407,264	$	20,612,784
Depreciation and amortization	$	4,089,634	$	246,298	$	4,335,932
Cash capital expenditures	$	46,652	$	3,060	$	49,712


	For the Six Months Ended June 30, 2021
	Sales to Independent Restaurants		Wholesale		Total
Revenue	$	340,557,245	$	12,370,819	$	352,928,064
Cost of revenue	$	276,225,791	$	12,138,378	$	288,364,169
Gross profit	$	64,331,454	$	232,441	$	64,563,895
Depreciation and amortization	$	8,257,595	$	299,959	$	8,557,554
Cash capital expenditures	$	640,404	$	23,263	$	663,667


	For the Six Months Ended June 30, 2020
	Sales to Independent Restaurants		Wholesale		Total
Revenue	$	265,892,978	$	14,470,454	$	280,363,432
Cost of revenue	$	217,144,426	$	13,631,177	$	230,775,603
Gross profit	$	48,748,552	$	839,277	$	49,587,829
Depreciation and amortization	$	8,260,460	$	449,552	$	8,710,012
Cash capital expenditures	$	199,127	$	10,837	$	209,964

Schedule Of Assets By Reporting Segments

The following table presents total assets by reportable segment as of June 30, 2021 and December 31, 2020, respectively:


	As of June 30, 2021		As of December 31, 2020
Total assets:
Sales to independent restaurants	$	491,418,936	$	456,775,742
Wholesale	15,802,059		27,509,341
Total Assets	$	507,220,995	$	484,285,083

ORGANIZATION AND BUSINESS DESCRIPTION - Narrative (Details) restaurant in Thousands	Jan. 17, 2020 USD ($) company warehouse	Nov. 04, 2019 USD ($) shares	Aug. 22, 2018 shares	Jun. 30, 2021 worker restaurant state center vehicle shares	May 28, 2021	Dec. 31, 2020 shares	Dec. 10, 2019	Jul. 10, 2019 a ft²	Jan. 01, 2018 entity
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of subsidiaries \| entity									11
Common stock, outstanding (in shares)			22,167,486	51,913,411		51,913,411
Number of shares redeemed by pre-transaction shareholders (in shares)			400,000
Restricted shares issued, gross (in shares)			10,000
Stock issued to the pre-transaction stockholders (in shares)			2,587,655
Number of states in which entity operates \| state				22
Number of distribution centers \| center				13
Number of states with distribution centers \| state				8
Number of restaurants served (over) \| restaurant				10
Number of refrigerated vehicles \| vehicle				300
Entity number of employees \| worker				780
B&R Global
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of states in which entity operates \| state				11
R&N Charlotte
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Area of land (acre) \| a								4.66
Area of real estate property (square foot) \| ft²								115,570
Ownership percentage by parent				100.00%
HFFI
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent				60.00%			60.00%
Kirnland
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent				100.00%	33.33%
CHINA
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of call centers \| center				2
B&R Global
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage		100.00%
Equity interest issued in business acquisition (in shares)		30,700,000
Consideration transferred \| $		$ 576,699,494
Number of restaurants \| restaurant				5
B & R Realty, LLC ("BRR")
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage	100.00%
Consideration transferred \| $	$ 101,269,706
Acquisition of subsidiary limited liability companies \| company	9
Acquisition of warehouse facilities \| warehouse	10
B & R Realty, LLC ("BRR") \| Revolving Credit Facility
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Business combination, liabilities incurred \| $	$ 18,700,000
B & R Realty, LLC ("BRR") \| Mortgage-secured Term Loan
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Business combination, liabilities incurred \| $	75,600,000
B & R Realty, LLC ("BRR") \| Unsecured Subordinated Promissory Note
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Business combination, liabilities incurred \| $	$ 7,000,000.0
HF Holding
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
New shares issued during period (in shares)			19,969,831
Aggregate issued and outstanding shares, percentage			88.50%
Remaining aggregate issued and outstanding shares, percentage			0.115

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)		3 Months Ended		6 Months Ended		12 Months Ended
	May 28, 2021 USD ($)	Jun. 30, 2021 USD ($) shares	Jun. 30, 2020 USD ($) shares	Jun. 30, 2021 USD ($) shares	Jun. 30, 2020 USD ($) shares	Dec. 31, 2020 USD ($)	Jan. 17, 2020 lease	Dec. 31, 2019 USD ($)
Summary of Significant Accounting Policies [Line Items]
Acquisition of non-controlling interest	$ 5,000,000	$ 5,000,000
Cash equivalents at carrying value		0		$ 0		$ 0
Allowance for credit loss, current		723,918	$ 2,283,458	723,918	$ 2,283,458	909,182		$ 623,970
Inventory valuation reserves, ending balance		232,946		232,946		146,078
Other than temporary impairment				0		0
Impairment of long-lived assets held-for-use				0		0
Operating lease right-of-use assets		16,326,011		16,326,011		931,630
Operating lease liabilities		$ 16,540,991		$ 16,540,991		$ 931,630
Antidilutive securities excluded from computation of earnings per share (in shares) \| shares		0	0	0	0
Non-controlling Interests
Summary of Significant Accounting Policies [Line Items]
Acquisition of non-controlling interest	1,144,113	$ 1,144,113
Additional Paid-in Capital
Summary of Significant Accounting Policies [Line Items]
Acquisition of non-controlling interest	$ 3,855,887	$ 3,855,887
Kirnland
Summary of Significant Accounting Policies [Line Items]
Ownership percentage by parent	33.33%	100.00%		100.00%
B & R Realty, LLC ("BRR")
Summary of Significant Accounting Policies [Line Items]
Number of leases terminated through acquisitions \| lease							9
Selling, General and Administrative Expenses
Summary of Significant Accounting Policies [Line Items]
Cost of goods and services sold		$ 2,473,438	$ 968,016	$ 4,399,210	$ 3,526,249
Four Suppliers \| Advance Payments Outstanding \| Cost of Goods and Service Benchmark
Summary of Significant Accounting Policies [Line Items]
Operating concentration risk (percentage)				53.00%
Two Suppliers \| Advance Payments Outstanding \| Cost of Goods and Service Benchmark
Summary of Significant Accounting Policies [Line Items]
Operating concentration risk (percentage)						40.00%
One Supplier \| Advance Payments to Related Parties \| Cost of Goods and Service Benchmark
Summary of Significant Accounting Policies [Line Items]
Operating concentration risk (percentage)						96.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Variable Interest Entities (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Variable Interest Entity [Line Items]
Current assets	$ 113,536,879				$ 113,536,879		$ 99,045,645
Total assets	507,220,995				507,220,995		484,285,083
Current liabilities	89,958,992				89,958,992		76,701,776
Total liabilities	242,241,874				242,241,874		219,483,650
Revenue	193,546,236		$ 104,560,096		352,928,064	$ 280,363,432
Net Income (Loss)	3,505,039	$ 1,823,199	(4,314,190)	$ (339,686,532)	5,328,238	(344,000,722)
Net cash provided by (used in) operating activities					13,270,460	32,417,651
Net cash provided by (used in) financing activities					(3,830,621)	55,732,235
Net increase (decrease) in cash					3,844,939	(5,973,267)
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Current assets	388,729				388,729		47,822
Non-current assets	97,946				97,946		115,934
Total assets	486,675				486,675		163,756
Current liabilities	655,401				655,401		496,234
Non-current liabilities	26,548				26,548		39,475
Total liabilities	681,949				681,949		$ 535,709
Revenue	747,831		415,377		1,201,005	1,081,805
Net Income (Loss)	150,584		34,667		176,679	99,445
Net cash provided by (used in) operating activities	(34,231)		19,978		52,512	334,202
Net cash provided by (used in) financing activities	(6,586)		(23,475)		9,855	(245,612)
Net increase (decrease) in cash	$ (40,817)		$ (3,497)		$ 62,367	$ 88,590

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Noncontrolling Interest (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Noncontrolling Interest [Line Items]
Non-controlling interests	$ 3,281,594	$ 4,367,547
Kirnland
Noncontrolling Interest [Line Items]
Percentage of Non-controlling Interest Ownership	0.00%
Non-controlling interests	$ 0	1,384,780
MIN
Noncontrolling Interest [Line Items]
Percentage of Non-controlling Interest Ownership	39.75%
Non-controlling interests	$ 1,116,222	889,596
MS
Noncontrolling Interest [Line Items]
Percentage of Non-controlling Interest Ownership	35.00%
Non-controlling interests	$ 451,673	459,816
OW
Noncontrolling Interest [Line Items]
Percentage of Non-controlling Interest Ownership	32.50%
Non-controlling interests	$ 1,713,699	$ 1,633,355

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(24))
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.31)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(22))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Estimated Useful Lives of Property, Plant and Equipment (Details)	6 Months Ended
	Jun. 30, 2021
Minimum \| Automobiles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	3 years
Minimum \| Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	7 years
Minimum \| Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	4 years
Minimum \| Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	3 years
Maximum \| Automobiles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	7 years
Maximum \| Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	39 years
Maximum \| Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	10 years
Maximum \| Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	10 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Estimated Useful Lives of Intangible Assets (Details)	6 Months Ended
	Jun. 30, 2021
Tradenames
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)	10 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)	20 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Disaggregation of Revenue by Geographic Locations (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 193,546,236	$ 104,560,096	$ 352,928,064	$ 280,363,432
Arizona
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	12,376,972	6,914,288	23,516,574	16,926,037
California
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	71,711,341	34,492,561	124,782,760	102,157,517
Colorado
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	11,027,852	7,532,674	20,503,418	16,441,667
Florida
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	22,711,792	11,309,093	42,610,687	30,394,902
Georgia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	16,632,853	8,072,633	31,241,879	22,174,887
North Carolina
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	33,703,273	21,266,959	63,216,780	50,984,476
Utah
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	13,584,123	10,294,374	26,919,728	25,292,749
Washington
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 11,798,030	$ 4,677,514	$ 20,136,238	$ 15,991,197

ACCOUNTS RECEIVABLE, NET - Components of Accounts Receivable, Net (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Receivables [Abstract]
Accounts receivable	$ 31,032,557	$ 25,766,504
Less: allowance for doubtful accounts	(723,918)	(909,182)	$ (2,283,458)	$ (623,970)
Accounts receivable, net	$ 30,308,639	$ 24,857,322

ACCOUNTS RECEIVABLE, NET - Allowance for Doubtful Accounts (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Accounts Receivable, Allowance for Credit Loss
Beginning balance	$ 909,182	$ 623,970
Increase (decrease) in provision for doubtful accounts	(22,945)	2,924,148
Less: write off/ (recovery)	(162,319)	(1,264,660)
Ending balance	$ 723,918	$ 2,283,458

LONG-TERM INVESTMENTS (Details) - USD ($)	6 Months Ended	12 Months Ended
LONG-TERM INVESTMENTS (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Long-term investments	$ 2,425,625	$ 2,377,164
Other than temporary impairment	$ 0	0
Asahi Food, Inc.
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	49.00%
Long-term investments	$ 625,625	577,164
Pt. Tamron Akuatik Produk Industri
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	12.00%
Long-term investments	$ 1,800,000	$ 1,800,000

PROPERTY AND EQUIPMENT, NET - Schedule of Property and Equipment (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Subtotal	$ 171,477,913	$ 171,484,562
Less: accumulated depreciation	(36,722,165)	(34,615,477)
Property and equipment, net	134,755,748	136,869,085
Automobiles
Property, Plant and Equipment [Line Items]
Subtotal	23,600,349	24,544,094
Building
Property, Plant and Equipment [Line Items]
Subtotal	71,285,127	71,285,127
Building improvements
Property, Plant and Equipment [Line Items]
Subtotal	10,014,650	9,807,234
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Subtotal	227,430	223,996
Land
Property, Plant and Equipment [Line Items]
Subtotal	52,125,900	52,125,900
Machinery and equipment
Property, Plant and Equipment [Line Items]
Subtotal	$ 14,224,457	$ 13,498,211

PROPERTY AND EQUIPMENT, NET - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jan. 17, 2020
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 1,485,846	$ 1,607,452	$ 3,012,537	$ 3,264,862
B&R Group Realty
Property, Plant and Equipment [Line Items]
Acquired property and equipment					$ 102,331,567

ACQUISITION OF B&R REALTY SUBSIDIARIES - Narrative (Details)	Jan. 17, 2020 USD ($)
B & R Realty, LLC ("BRR")
Business Acquisition [Line Items]
Ownership percentage	100.00%
Consideration transferred	$ 101,269,706
B & R Realty, LLC ("BRR") \| Revolving Credit Facility
Business Acquisition [Line Items]
Business combination, liabilities incurred	18,700,000
B & R Realty, LLC ("BRR") \| Mortgage-secured Term Loan
Business Acquisition [Line Items]
Business combination, liabilities incurred	75,600,000
B & R Realty, LLC ("BRR") \| Unsecured Subordinated Promissory Note
Business Acquisition [Line Items]
Business combination, liabilities incurred	$ 7,000,000.0
Co-Chief Executive Officer \| B&R Group Realty
Business Acquisition [Line Items]
Percentage of Non-controlling Interest Ownership	8.91%

ACQUISITION OF B&R REALTY SUBSIDIARIES - Assets Acquired and Liabilities Assumed (Details) - B & R Realty, LLC ("BRR")	Jan. 17, 2020 USD ($)
Business Acquisition [Line Items]
Cash	$ 265,639
Automobile	33,690
Prepaids	39,193
Land	48,734,042
Buildings	53,563,835
Total assets acquired	102,636,399
Accounts payable and accrued expenses	1,366,693
Total liabilities assumed	1,366,693
Net assets acquired	$ 101,269,706

GOODWILL AND ACQUIRED INTANGIBLE ASSETS - Schedule of Goodwill (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Goodwill [Roll Forward]
Goodwill, beginning balance				$ 68,511,941
Goodwill impairment loss	$ 0	$ 0	$ (338,200,000)	0	$ (338,191,407)
Goodwill, ending balance	68,511,941			68,511,941
HF Group
Goodwill [Roll Forward]
Goodwill, beginning balance				0
Goodwill impairment loss				0
Goodwill, ending balance	0			0
B&R Global
Goodwill [Roll Forward]
Goodwill, beginning balance				68,511,941
Goodwill impairment loss				0
Goodwill, ending balance	$ 68,511,941			$ 68,511,941

GOODWILL AND ACQUIRED INTANGIBLE ASSETS - Narrative (Details) - USD ($)		3 Months Ended			6 Months Ended
	Nov. 04, 2019	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Goodwill		$ 68,511,941			$ 68,511,941		$ 68,511,941
Goodwill impairment loss		0	$ 0	$ 338,200,000	0	$ 338,191,407
Amortization of intangible assets		$ 2,722,575	$ 5,445,150		$ 2,722,575	$ 5,445,150
B&R Global
Goodwill [Line Items]
Goodwill								$ 406,700,000
Ownership percentage	100.00%
Equity interest issued in business acquisition (in shares)	30,700,000
Consideration transferred	$ 576,699,494
Finite-lived intangible assets acquired	$ 188,503,000
B&R Global \| Tradenames
Goodwill [Line Items]
Acquired finite-lived intangible assets, weighted average useful life (in years)	10 years
B&R Global \| Customer relationships
Goodwill [Line Items]
Acquired finite-lived intangible assets, weighted average useful life (in years)	20 years

GOODWILL AND ACQUIRED INTANGIBLE ASSETS - Intangible Assets (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 188,503,000	$ 188,503,000
Accumulated Amortization	(18,150,500)	(12,705,350)
Total	170,352,500	175,797,650
Tradenames
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	29,303,000	29,303,000
Accumulated Amortization	(4,883,833)	(3,418,683)
Total	24,419,167	25,884,317
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	159,200,000	159,200,000
Accumulated Amortization	(13,266,667)	(9,286,667)
Total	$ 145,933,333	$ 149,913,333

GOODWILL AND ACQUIRED INTANGIBLE ASSETS - Future Amortization Expense (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 10,890,300
2023	10,890,300
2024	10,890,300
2025	10,890,300
2026	10,890,300
Thereafter	115,901,000
Total	$ 170,352,500	$ 175,797,650

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details)			3 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details)	Dec. 19, 2019 USD ($)	Aug. 20, 2019 USD ($) derivative termLoan	Mar. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jun. 24, 2020 USD ($)
Derivative [Line Items]
Number of mortgage term loans \| termLoan		2
Obligations under interest rate swap contracts				$ 393,479	$ 993,516
Mortgage-Secured Term Loans \| East West Bank \| London Interbank Offered Rate (LIBOR)
Derivative [Line Items]
Basis spread on variable rate		2.25%
Fixed rate determined by interest rate swaps		0.0423
Mortgage-Secured Term Loans \| Bank of America \| London Interbank Offered Rate (LIBOR)
Derivative [Line Items]
Basis spread on variable rate	2.15%
Fixed rate determined by interest rate swaps	0.0425
Interest Rate Swap
Derivative [Line Items]
Number of derivatives \| derivative		2
Interest Rate Swap \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability, notional amount	$ 2,740,000	$ 1,050,000.00				$ 80,000,000
Gain (loss) on discontinuation of derivative instrument			$ 718,600
Interest Rate Swap Member Two \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability, notional amount		$ 2,625,000

LINE OF CREDIT - Narrative (Details)	Jan. 17, 2020 USD ($) warehouse	Jun. 30, 2021 USD ($)
JP Morgan \| Amended and Restated Credit Agreement \| Mortgage-Secured Term Loans
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 100,000,000
JP Morgan \| Second Amended Credit Agreement \| Mortgage-Secured Term Loans
Line of Credit Facility [Line Items]
Debt instrument, face amount	$ 75,600,000
Revolving Credit Facility \| B & R Realty, LLC ("BRR")
Line of Credit Facility [Line Items]
Business combination, liabilities incurred	$ 18,700,000
Number of warehouses acquired \| warehouse	10
Revolving Credit Facility \| JP Morgan \| Second Amended Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 100,000,000
Long-term line of credit	$ 41,200,000	$ 19,100,000

LONG-TERM DEBT - Schedule of Long-term Debt Instruments (Details)	Jun. 30, 2021 USD ($) subsidiary property	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Total	$ 90,946,565	$ 93,650,062
Current portion of long-term debt, net	(5,804,100)	(5,641,259)
Long-term debt, net	85,142,465	88,008,803
Bank of America
Debt Instrument [Line Items]
Total	$ 5,622,528	5,905,472
Number of subsidiaries as guarantors \| subsidiary	2
Bank of America \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Balloon payment to be paid	$ 1,382,046
Bank of America \| Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	3.73%
Bank of America \| Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	5.51%
Bank of Montreal
Debt Instrument [Line Items]
Total	$ 194,952	280,164
Bank of Montreal \| Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	5.87%
Bank of Montreal \| Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	5.99%
East West Bank
Debt Instrument [Line Items]
Total	$ 6,704,883	6,802,271
Number of subsidiaries as guarantors \| subsidiary	5
Number of real properties secured \| property	2
East West Bank \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Balloon payment to be paid	$ 2,293,751
East West Bank \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Collateral amount	$ 3,007,239
East West Bank \| Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	3.83%
East West Bank \| Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	4.25%
First Horizon Bank
Debt Instrument [Line Items]
Interest rate, stated percentage	3.85%
Total	$ 4,673,127	4,773,378
Collateral amount	3,116,687
JP Morgan
Debt Instrument [Line Items]
Total	72,802,325	74,687,806
JP Morgan \| Assets Held by Subsidiaries
Debt Instrument [Line Items]
Collateral amount	71,264,205
JP Morgan \| Vehicles and Equipment
Debt Instrument [Line Items]
Collateral amount	$ 1,538,120
JP Morgan \| Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	1.97%
JP Morgan \| Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	2.09%
Peoples United Bank
Debt Instrument [Line Items]
Total	$ 559,274	725,282
Peoples United Bank \| Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	6.69%
Peoples United Bank \| Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	7.53%
Other Finance Companies
Debt Instrument [Line Items]
Total	$ 389,476	$ 475,689
Other Finance Companies \| Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	3.90%
Other Finance Companies \| Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	6.14%

LONG-TERM DEBT - Future Maturities (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2022	$ 5,804,100
2023	5,157,805
2024	4,177,128
2025	4,032,473
2026	4,069,472
Thereafter	67,705,587
Total	$ 90,946,565	$ 93,650,062

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

LEASES - Narrative (Detail)	Feb. 10, 2021 USD ($)	Feb. 23, 2019 USD ($)	Jul. 02, 2018 lease property	Jun. 30, 2021
Jianping An \| AnHeart
Lessee, Lease, Description [Line Items]
Ownership interest transferred, transfer price		$ 20,000
Building
Lessee, Lease, Description [Line Items]
Number of leases \| lease			2
Number of properties \| property			2
Lease for 273 Fifth Avenue, Manhattan,New York \| Building
Lessee, Lease, Description [Line Items]
Operating lease, term of contract (in years)	30 years		30 years
Operating lease, renewal term (in years)	10 years
Operating lease expense	$ 325,000
Operating lease, rent expense in final year	$ 1,047,974
Percentage reduction in annual rent for 2021	0.20
Lease for 275 Fifth Avenue, Manhattan,New York \| Building
Lessee, Lease, Description [Line Items]
Operating lease, term of contract (in years)			15 years
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract (in years)				30 years
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract (in years)				1 year
Payment to construct building	$ 2,500,000

LEASES - Components of Operating and Finance Leases (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating lease cost	$ 513,066	$ 253,820	$ 1,085,201	$ 756,877
Weighted Average Remaining Lease Term (Months)	302 months	34 months	302 months	34 months
Weighted Average Discount Rate	2.17%	4.10%	2.17%	4.10%
Amortization of right-of-use assets	$ 80,984	$ 139,687	$ 168,160	$ 279,373
Interest on lease liabilities	16,718	23,218	37,343	51,120
Total finance leases cost	$ 97,702	$ 162,905	$ 205,503	$ 330,493

LEASES - Supplemental Cash Flow Information Related to Operating and Finance Leases (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating cash flows from finance leases	$ 16,718	$ 23,218	$ 37,343	$ 51,120

LEASES - Balance Sheet (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Property and equipment, at cost	$ 2,793,731	$ 2,793,731
Accumulated depreciation	(1,999,478)	(1,831,318)
Property and equipment, net	$ 794,253	$ 962,413
Weighted Average Remaining Lease Term (Months)	38 months	43 months
Weighted Average Discount Rate	7.59%	7.56%
Finance lease, right-of-use asset, statement of financial position [Extensible List]	Property and equipment, net

LEASES - Maturities of Lease Liabilities (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Operating Leases
2022	$ 1,011,964
2023	1,139,353
2024	964,309
2025	987,997
2026	791,576
Thereafter	17,396,355
Total Lease Payments	22,291,554
Less Imputed Interest	(5,750,563)
Total	16,540,991	$ 931,630
Finance Leases
2022	336,501
2023	322,569
2024	274,426
2025	96,496
2026	0
Thereafter	0
Total Lease Payments	1,029,992
Less Imputed Interest	(126,570)
Total	$ 903,422

SUPPLEMENTAL CASH FLOWS INFORMATION (Details) - USD ($)	6 Months Ended
SUPPLEMENTAL CASH FLOWS INFORMATION (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Supplemental disclosure of cash flow data
Cash paid for interest	$ 1,477,788	$ 2,321,727
Cash paid for income taxes	1,897,940	145,905
Supplemental disclosure of non-cash investing and financing activities
Right of use assets obtained in exchange for operating lease liabilities	15,930,393	0
Property and equipment purchases from notes payable	257,450	2,528,554
Issuance of promissory note for the acquisition of B&R Realty Subsidiaries	$ 0	$ 7,000,000

TAXES - Income Tax Provision (Benefit) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Current income taxes:
Federal	$ 1,886,083	$ 40,618	$ 2,849,943	$ 400,218
State	217,479	35,646	439,760	125,306
Current income taxes	2,103,562	76,264	3,289,703	525,524
Deferred income taxes (benefit):
Federal	(837,524)	(1,195,341)	(1,262,732)	(1,918,683)
State	111,060	(370,228)	(42,666)	(578,357)
Deferred income taxes (benefit)	(726,464)	(1,565,569)	(1,305,398)	(2,497,040)
Total provision (benefit) for income taxes	$ 1,377,098	$ (1,489,305)	$ 1,984,305	$ (1,971,516)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Deferred tax assets:
Allowance for doubtful accounts	$ 390,349	$ 443,151
Inventories	613,247	481,016
Federal net operating loss	38,893	101,828
State net operating loss	11,030	257,490
Fair value change in interest rate swap contracts	70,875	244,622
Accrued expenses	294,217	268,813
Total deferred tax assets	1,418,611	1,796,920
Deferred tax liabilities:
Property and equipment	(2,383,623)	(2,660,874)
Intangibles assets	(43,901,883)	(45,461,272)
Right of Use Asset	(152,934)	0
Total deferred tax liabilities	(46,438,440)	(48,122,146)
Net deferred tax liabilities	(45,019,829)	(46,325,226)
Deferred tax assets	59,079	57,478
Deferred tax liabilities	(45,078,908)	(46,382,704)
Net deferred tax liabilities	$ (45,019,829)	$ (46,325,226)

TAXES - Reconciliation of Income Tax Rate (Details)	6 Months Ended
TAXES - Reconciliation of Income Tax Rate (Details)	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Federal statutory tax rate	21.00%	21.00%
State statutory tax rate	4.30%	0.10%
Impact of goodwill impairment loss - permanent difference	0.00%	(20.50%)
U.S. permanent difference	1.10%	0.00%
Others	0.70%	0.00%
Effective tax rate	27.10%	0.60%

RELATED PARTY TRANSACTIONS - Summary of Purchases with Related Parties (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Feb. 25, 2021	Oct. 31, 2020	Sep. 29, 2020
Related Party Transaction [Line Items]
Purchases - related parties	$ 4,896,012	$ 3,278,633	$ 9,237,383	$ 11,722,947
Best Food Services, LLC \| Mr. Xiao Mou Zhang (Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership						10.38%
Eastern Fresh LLC \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	30.00%		30.00%
Fujian RongFeng Plastic Co. Ltd. \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	40.00%		40.00%
Hanfeng (Fujian) Information Technology Co., Ltd. \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	100.00%		100.00%				100.00%
Ocean Pacific Seafood Group, Inc. \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	26.00%		26.00%
Revolution Industry, LLC \| Raymond Ni (family member)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	100.00%		100.00%
Union Foods, LLC \| Tina Ni (family member)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	30.00%		30.00%
Union Foods, LLC \| Anthony Zhang (family member)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	10.00%		10.00%
Allstate Trading Company Inc \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	40.00%		40.00%
Enson Group Inc. \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	25.00%		25.00%
First Choice Seafood, Inc. \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	25.00%		25.00%
N&F Logistics, Inc. \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	25.00%		25.00%
UGO USA Inc \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	30.00%		30.00%
Best Food Services, LLC
Related Party Transaction [Line Items]
Purchases - related parties	$ 2,353,900	873,122	$ 3,487,139	2,972,685
Eastern Fresh LLC
Related Party Transaction [Line Items]
Purchases - related parties	1,473,617	445,572	2,968,663	2,055,177
Fujian RongFeng Plastic Co. Ltd.
Related Party Transaction [Line Items]
Purchases - related parties	790,212	824,602	1,590,129	1,844,955
Hanfeng (Fujian) Information Technology Co., Ltd.
Related Party Transaction [Line Items]
Purchases - related parties	0	313,187	0	1,025,212
Ocean Pacific Seafood Group, Inc.
Related Party Transaction [Line Items]
Purchases - related parties	207,847	52,143	338,426	233,175
Revolution Industry, LLC
Related Party Transaction [Line Items]
Purchases - related parties	0	541,910	189,701	1,045,702
Revolution Industry, LLC \| Asset Purchase Agreement
Related Party Transaction [Line Items]
Purchase obligation					$ 250,000
Union Foods, LLC
Related Party Transaction [Line Items]
Purchases - related parties	0	162,816	0	1,246,720
Other Related Parties
Related Party Transaction [Line Items]
Purchases - related parties	$ 70,436	$ 65,281	160,966	88,345
Allstate Trading Company Inc
Related Party Transaction [Line Items]
Purchases - related parties			0	284,968
Enson Group Inc.
Related Party Transaction [Line Items]
Purchases - related parties			127,577	0
First Choice Seafood, Inc.
Related Party Transaction [Line Items]
Purchases - related parties			159,752	336,739
N&F Logistics, Inc.
Related Party Transaction [Line Items]
Purchases - related parties			2,646	368,529
UGO USA Inc
Related Party Transaction [Line Items]
Purchases - related parties			$ 212,384	$ 220,740

RELATED PARTY TRANSACTIONS - Summary of Sales to Related Parties (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Oct. 31, 2020
Related Party Transaction [Line Items]
Sales - related parties	$ 3,085,707	$ 3,454,405	$ 5,476,168	$ 8,548,501
ABC Trading, LLC \| Mr. Xiao Mou Zhang (Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership					10.38%
Asahi Food, Inc. \| MF Food Services, Inc. (“MFS”)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	49.00%		49.00%
Best Food Services, LLC \| Mr. Xiao Mou Zhang (Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership					10.38%
Eagle Food Service LLC \| Tina Ni (family member)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	26.50%		26.50%
Eastern Fresh LLC \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	30.00%		30.00%
Enson Group Inc. \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	25.00%		25.00%
Enson Seafood GA Inc \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	50.00%		50.00%
First Choice Seafood, Inc. \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	25.00%		25.00%
Hengfeng Food Service Inc \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	45.00%		45.00%
N&F Logistics, Inc. \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	25.00%		25.00%
ABC Trading, LLC
Related Party Transaction [Line Items]
Sales - related parties	$ 506,306	169,145	$ 1,220,212	1,048,298
Asahi Food, Inc.
Related Party Transaction [Line Items]
Sales - related parties	223,377	103,385	341,133	221,190
Best Food Services, LLC
Related Party Transaction [Line Items]
Sales - related parties	327,113	14,414	400,792	180,689
Eagle Food Service LLC
Related Party Transaction [Line Items]
Sales - related parties	1,067,346	878,396	2,076,021	2,437,025
Eastern Fresh LLC
Related Party Transaction [Line Items]
Sales - related parties	76,145	507,821	99,338	1,449,294
Enson Group Inc.
Related Party Transaction [Line Items]
Sales - related parties	26,601	123,820	53,113	272,752
Enson Seafood GA Inc
Related Party Transaction [Line Items]
Sales - related parties	553,985	0	554,949	40,216
First Choice Seafood, Inc.
Related Party Transaction [Line Items]
Sales - related parties	7,615	1,145,984	82,144	1,378,208
Hengfeng Food Service Inc
Related Party Transaction [Line Items]
Sales - related parties	64,878	155,705	104,854	527,186
N&F Logistics, Inc.
Related Party Transaction [Line Items]
Sales - related parties	160,466	172,216	367,133	553,242
Other Related Parties
Related Party Transaction [Line Items]
Sales - related parties	$ 71,875	$ 183,519	$ 176,479	$ 440,401

RELATED PARTY TRANSACTIONS - Summary of Accounts Receivable With Related Parties (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020	Oct. 31, 2020
Related Party Transaction [Line Items]
Accounts receivable - related parties, net	$ 1,921,415	$ 1,261,463
ABC Trading, LLC \| Mr. Xiao Mou Zhang (Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership			10.38%
Asahi Food, Inc. \| MF Food Services, Inc. (“MFS”)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	49.00%
Best Food Services, LLC \| Mr. Xiao Mou Zhang (Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership			10.38%
Eagle Food Service LLC \| Tina Ni (family member)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	26.50%
Eastern Fresh LLC \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	30.00%
Enson Seafood GA Inc \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	50.00%
Fortune One Foods Inc \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	17.50%
Hengfeng Food Service Inc \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	45.00%
N&F Logistics, Inc. \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	25.00%
ABC Trading, LLC
Related Party Transaction [Line Items]
Accounts receivable - related parties, net	$ 137,063	18,816
Asahi Food, Inc.
Related Party Transaction [Line Items]
Accounts receivable - related parties, net	144,363	68,766
Best Food Services, LLC
Related Party Transaction [Line Items]
Accounts receivable - related parties, net	250,153	1,250
Eagle Food Service LLC
Related Party Transaction [Line Items]
Accounts receivable - related parties, net	478,097	697,538
Eastern Fresh LLC
Related Party Transaction [Line Items]
Accounts receivable - related parties, net	102,442	0
Enson Seafood GA Inc
Related Party Transaction [Line Items]
Accounts receivable - related parties, net	567,950	325,596
Fortune One Foods Inc
Related Party Transaction [Line Items]
Accounts receivable - related parties, net	86,150	36,250
Hengfeng Food Service Inc
Related Party Transaction [Line Items]
Accounts receivable - related parties, net	64,878	0
N&F Logistics, Inc.
Related Party Transaction [Line Items]
Accounts receivable - related parties, net	61,940	113,247
Other Related Parties
Related Party Transaction [Line Items]
Accounts receivable - related parties, net	$ 28,379	$ 0

RELATED PARTY TRANSACTIONS - Summary of Accounts Payable with Related Parties (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020	Oct. 31, 2020
Related Party Transaction [Line Items]
Accounts payable - related parties	$ 1,956,629	$ 1,572,427
Best Food Services, LLC \| Mr. Xiao Mou Zhang (Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership			10.38%
Eastern Fresh LLC \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	30.00%
Enson Group Inc. \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	25.00%
Fujian RongFeng Plastic Co. Ltd. \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	40.00%
Han Feng Information Tech. Jinhua, Inc. \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	37.00%
Hengfeng Food Service Inc \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	45.00%
UGO USA Inc \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	30.00%
Best Food Services, LLC
Related Party Transaction [Line Items]
Accounts payable - related parties	$ 479,757	588,920
Eastern Fresh LLC
Related Party Transaction [Line Items]
Accounts payable - related parties	464,106	427,795
Enson Group Inc.
Related Party Transaction [Line Items]
Accounts payable - related parties	75,794	25,368
Fujian RongFeng Plastic Co. Ltd.
Related Party Transaction [Line Items]
Accounts payable - related parties	767,593	69,429
Han Feng Information Tech. Jinhua, Inc.
Related Party Transaction [Line Items]
Accounts payable - related parties	0	107,258
Hengfeng Food Service Inc
Related Party Transaction [Line Items]
Accounts payable - related parties	0	116,436
UGO USA Inc
Related Party Transaction [Line Items]
Accounts payable - related parties	0	211,003
Other Related Parties
Related Party Transaction [Line Items]
Accounts payable - related parties	$ 169,379	$ 26,218

RELATED PARTY TRANSACTIONS - Summary of Advances to Suppliers with Related Parties (Details) - USD ($)	Jun. 30, 2021	Feb. 25, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Advances to suppliers - related parties, net	$ 0		$ 196,803
Ocean Pacific Seafood Group, Inc. \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	26.00%
Revolution Industry, LLC \| Raymond Ni (family member)
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership	100.00%
Ocean Pacific Seafood Group, Inc.
Related Party Transaction [Line Items]
Advances to suppliers - related parties, net	$ 0		7,101
Revolution Industry, LLC
Related Party Transaction [Line Items]
Advances to suppliers - related parties, net	$ 0		$ 189,702
Revolution Industry, LLC \| Asset Purchase Agreement
Related Party Transaction [Line Items]
Purchase obligation		$ 250,000

RELATED PARTY TRANSACTIONS - Narrative (Details)	1 Months Ended	3 Months Ended		6 Months Ended
RELATED PARTY TRANSACTIONS - Narrative (Details)	Jan. 16, 2020 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2021 USD ($) entity	Jun. 30, 2020 USD ($)	Feb. 28, 2021	Feb. 23, 2021	Dec. 31, 2020 USD ($)
Related Party Transaction [Line Items]
Promissory note payable - related party		$ 5,500,000		$ 5,500,000				$ 7,000,000
Minimum
Related Party Transaction [Line Items]
Operating lease, term of contract (in years)		1 year		1 year
Maximum
Related Party Transaction [Line Items]
Operating lease, term of contract (in years)		30 years		30 years
Pt. Tamron Akuatik Produk Industri
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership		12.00%		12.00%
Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Number of entitles deemed to be non-related parties \| entity				2
Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer) \| HF Foods
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership		10.00%		10.00%			10.70%
Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer) \| Six Entities Deemed to be Non-Related Parties \| Minimum
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership		5.00%		5.00%
Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer) \| Six Entities Deemed to be Non-Related Parties \| Maximum
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership		10.00%		10.00%
Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer) \| Entity One Deemed to be a Non-Related Party
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership		37.67%		37.67%
Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer) \| Entity Two Deemed to be a Non-Related Party
Related Party Transaction [Line Items]
Percentage of Non-controlling Interest Ownership		100.00%		100.00%
Restaurants \| Mr. Zhou Min Ni (Chairman and Co-Chief Executive Officer)
Related Party Transaction [Line Items]
Number of entitles deemed to be non-related parties \| entity				4
R&N Holdings \| Building
Related Party Transaction [Line Items]
Rental income, nonoperating		$ 0	$ 10,500	$ 7,000	$ 21,000
HG Realty \| Building
Related Party Transaction [Line Items]
Rental income, nonoperating		120,000	120,000	240,000	240,000
B&R Global \| Building
Related Party Transaction [Line Items]
Rental income, nonoperating	$ 187,750
Kirnland \| Building
Related Party Transaction [Line Items]
Rental income, nonoperating		77,428	$ 30,000	154,856	$ 60,000
Kirnland \| Building \| Lease for 36-40 Enterprise Blvd., Atlanta Georgia
Related Party Transaction [Line Items]
Operating lease, term of contract (in years)						5 years
B&R Group Realty \| Mortgage-Secured Term Loans
Related Party Transaction [Line Items]
Due from related parties		$ 7,000,000.0		$ 7,000,000.0
Interest rate, stated percentage		6.00%		6.00%
Interest payable		$ 0		$ 0

SEGMENT REPORTING - Narrative (Details)	6 Months Ended
SEGMENT REPORTING - Narrative (Details)	Jun. 30, 2021 segment
Segment Reporting [Abstract]
Number of reportable segments	2

SEGMENT REPORTING - Net Sales by Segment (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 193,546,236	$ 104,560,096	$ 352,928,064	$ 280,363,432
Sales to independent restaurants
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	187,516,460	98,620,662	340,557,245	265,892,978
Wholesale
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 6,029,776	$ 5,939,434	$ 12,370,819	$ 14,470,454

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
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+ Details

SEGMENT REPORTING - Business Operations (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	$ 193,546,236	$ 104,560,096	$ 352,928,064	$ 280,363,432
Cost of revenue	158,411,932	83,947,312	288,364,169	230,775,603
GROSS PROFIT	35,134,304	20,612,784	64,563,895	49,587,829
Depreciation and amortization	4,259,434	4,335,932	8,557,554	8,710,012
Cash capital expenditures	215,494	49,712	663,667	209,964
Sales to independent restaurants
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	187,516,460	98,620,662	340,557,245	265,892,978
Cost of revenue	152,284,008	78,415,142	276,225,791	217,144,426
GROSS PROFIT	35,232,452	20,205,520	64,331,454	48,748,552
Depreciation and amortization	4,126,735	4,089,634	8,257,595	8,260,460
Cash capital expenditures	208,614	46,652	640,404	199,127
Wholesale
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	6,029,776	5,939,434	12,370,819	14,470,454
Cost of revenue	6,127,924	5,532,170	12,138,378	13,631,177
GROSS PROFIT	(98,148)	407,264	232,441	839,277
Depreciation and amortization	132,699	246,298	299,959	449,552
Cash capital expenditures	$ 6,880	$ 3,060	$ 23,263	$ 10,837

- Definition

The aggregate cost of goods produced and sold and services rendered during the reporting period.

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SEGMENT REPORTING - Assets by Segment (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 507,220,995	$ 484,285,083
Sales to independent restaurants
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	491,418,936	456,775,742
Wholesale
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 15,802,059	$ 27,509,341

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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+ Details

COMMITMENT AND CONTINGENCIES (Details)	Mar. 29, 2020 lawsuit
Putative Class Action
Loss Contingencies [Line Items]
New claims filed, number	2
Derivative Actions
Loss Contingencies [Line Items]
New claims filed, number	2

ORGANIZATION AND BUSINESS DESCRIPTION - Schedule of Entities (Details)	Jun. 30, 2021	May 28, 2021	Dec. 10, 2019
HF Holding \| HF Holding
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
Han Feng
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
Kirnland
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%	33.33%
NSF
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
HFFI
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	60.00%		60.00%
Chinesetg
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
Kirnsway
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
BB
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
MFD
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
TT
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
HG Realty
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
R&N Charlotte
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
R&N Holdings
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
R&N Lexington
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
273 Co
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
A & Kie, LLC ("AK")
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B & R Realty, LLC ("BRR")
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
Big Sea Realty, LLC ("BSR")
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
Fortune Liberty, LLC ("FL")
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
Genstar Realty, LLC ("GSR")
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
Hardin St Properties, LLC ("HP")
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
Lenfa Food, LLC ("LF")
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
Lucky Realty, LLC ("LR")
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
Murray Properties, LLC ("MP")
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| B&L Trading, LLC (“BNL”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| Capital Trading, LLC (“UT”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| Great Wall Seafood LA, LLC (“GW”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| Min Food Inc. (“MIN”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	60.25%
B&R Global \| Monterey Food Service, LLC (“MS”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	65.00%
B&R Global \| Mountain Food, LLC (“MF”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| Ocean West Food Services, LLC (“OW”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	67.50%
B&R Global \| R & C Trading, L.L.C. (“RNC”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| Rongcheng Trading, LLC (“RC”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| Win Woo Trading, LLC (‘WW”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| Irwindale Poultry, LLC (“IP”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| Lin’s Farms, LLC (“LNF”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| Kami Trading Inc. (“KAMI”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| American Fortune Foods Inc. (“AF”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| B&R Group Logistics Holding LLC (“BRGL”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| Best Choice Trucking, LLC (“BCT”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| GM Food Supplies, Inc. (“GM”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| Golden Well Inc. (“GWT”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| Happy FM Group, Inc. (“HFM”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| Hayward Trucking, Inc. (“HRT”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| KYL Group, Inc. (“KYL”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| Lin’s Distribution Inc., Inc. (“LIN”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| MF Food Services, Inc. (“MFS”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| New Berry Trading, LLC (“NBT”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| Royal Service, Inc. (“RS”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| Royal Trucking Services, Inc. (“RTS”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%
B&R Global \| Yi Z Service LLC (“YZ”)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by parent	100.00%