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Condensed consolidated balance sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 440,228 $ 408,713
Pledged deposits 4,179,151 4,278,144
Trade accounts and bills receivable, net 5,989,712 2,468,387
Inventories 17,311,511 17,094,922
Prepayments and other receivables 7,142,376 6,675,351
Prepaid land use rights, current portion 163,106 161,790
Total current assets 35,226,084 31,087,307
Property, plant and equipment, net 21,442,562 20,010,903
Construction in progress 33,054,907 33,457,043
Prepaid land use rights, non-current 7,557,225 7,536,733
Intangible assets, net 20,872 21,344
Total assets 97,301,650 92,113,330
Current liabilities    
Trade accounts and bills payable 14,720,051 15,580,655
Short-term bank loans 1,451,653 1,439,947
Other short-term loans 16,035,801 10,524,778
Accrued expenses and other payables 19,324,231 19,382,593
Payables to former subsidiaries, net 5,308,384 2,488,859
Deferred government grants, current 143,558 142,400
Total current liabilities 56,983,678 49,559,232
Long-term bank loans 18,406,956 18,258,528
Deferred government grants, non-current 4,558,016 4,556,861
Long term tax payable 6,510,805 7,061,140
Total liabilities 86,459,455 79,435,761
Commitments and contingencies 0 0
Shareholders' (deficit) equity    
Common stock $0.001 par value; 500,000,000 authorized ; 19,744,675 issued and 19,600,469 outstanding as of December 31, 2016; 19,856,174 issued and 19,711,968 outstanding as of March 31, 2017 19,857 19,745
Donated shares 14,101,689 14,101,689
Additional paid-in capital 145,605,443 145,353,067
Statutory reserves 1,230,511 1,230,511
Accumulated deficit (144,067,588) (141,999,372)
Accumulated other comprehensive loss (1,981,107) (1,961,461)
Shareholders' Equity Before Treasury Stock 14,908,805 16,744,179
Less: Treasury shares (4,066,610) (4,066,610)
Total shareholders' equity 10,842,195 12,677,569
Total liabilities and shareholder's equity $ 97,301,650 $ 92,113,330