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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows From Operating Activities    
Net income $ 2,526,293 $ 2,304,709
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 333,516 1,143,319
Deferred tax benefit 0 (623,872)
Stock compensation expense 1,004,470 1,773,537
Changes in bad debt allowance 2,298,488 203,905
Changes in operating assets and liabilities:    
Accounts receivable (2,010,715) 4,960,037
Advance to suppliers (11,140,836) (8,281,288)
Inventories 587,101 (3,939,526)
Other current assets (14,694) (21,452)
Accounts payable 1,814,927 (2,206,628)
Advance from customers 79,576 (494,582)
Accrued liabilities and other payables (252,867) (54,458)
Taxes payable (732,274) (126,163)
Net Cash Used in Operating Activities (5,507,015) (5,362,462)
Cash Flows From Investing Activities    
Assignment fee received 0 1,250,000
Purchase of property and equipment (12,960) (17,443)
Advances to unrelated parties 0 (8,835,000)
Repayment from unrelated parties 0 15,835,000
Net Cash (Used in) Provided by Investing Activities (12,960) 8,232,557
Cash Flows From Financing Activities    
Proceeds from line of credit and bank loan 56,063,918 36,881,842
Repayment to line of credit and bank loan (55,414,211) (41,537,643)
Proceeds from the exercise of options for common stocks 31,500 0
Net Cash Provided by (Used in) Financing Activities 681,207 (4,655,801)
Net decrease in cash and cash equivalents (4,838,768) (1,785,706)
Cash and cash equivalents, beginning of period 5,722,716 2,587,743
Cash and cash equivalents, ending of period 883,948 802,037
Cash paid during the period for:    
Income tax payments 227,200 0
Interest expense $ 87,110 $ 159,686