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Condensed Consolidated statements of cash flows - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities    
Net loss $ (2,068,216) $ (1,903,158)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 297,406 272,548
(Reversal of) Provision for doubtful debts 9,105 (39,254)
Write-down of inventories 150,156 96,910
Share-based compensation 252,488 321,355
Deferred tax assets 0 (56,932)
Exchange gain (142,343) (124,185)
Changes in operating assets and liabilities:    
Trade accounts and bills receivable (3,510,465) (2,120,972)
Inventories (227,766) (168,248)
Prepayments and other receivables (412,770) (361,320)
Trade accounts and bills payable (987,292) 2,691,637
Accrued expenses and other payables 123,459 4,009
Income taxes payable (607,755) 0
Trade receivable from and payables to former subsidiaries 2,805,278 4,762,842
Net cash provided by (used in) operating activities (4,318,715) 3,375,232
Cash flows from investing activities    
Decrease in pledged deposits 133,775 92,457
Purchases of property, plant and equipment and construction in progress (1,213,300) (3,027,974)
Net cash used in investing activities (1,079,525) (2,935,517)
Cash flows from financing activities    
Deposits from shareholders 2,032,373 0
Proceeds from bank borrowings 0 481,283
Borrowings from related parties 1,869,782 529,707
Borrowings from unrelated parties 1,524,280 88,961
Repayment of borrowings from unrelated parties 0 (77,333)
Net cash provided by financing activities 5,426,435 1,022,618
Effect of exchange rate changes on cash and cash equivalents 3,320 51,853
Net increase in cash and cash equivalents 31,515 1,514,186
Cash and cash equivalents at the beginning of period 408,713 80,711
Cash and cash equivalents at the end of period 440,228 1,594,897
Non-cash transactions:    
Transfer of construction in progress to property, plant and equipment 1,560,897 0
Cash paid during the period for:    
Income taxes 607,755 0
Interest, net of amounts capitalized $ 0 $ 0