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Condensed consolidated statements of cash flows - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities    
Net loss $ (10,024,349) $ (10,519,521)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,006,122 831,868
Provision for doubtful debts 361,217 2,732,810
Write-down of inventories 1,359,182 296,943
Share-based compensation 635,530 1,088,733
Deferred tax liabilities 0 (168,860)
Exchange loss (gain) (37,511) 105,856
Changes in operating assets and liabilities:    
Trade accounts and bills receivable (27,736,858) (445,081)
Inventories (1,757,900) (12,747,322)
Prepayments and other receivables (583,517) (3,566,182)
Trade accounts and bills payable 18,315,114 278,080
Accrued expenses and other payables 1,438,167 852,202
Income taxes payable (615,031) 310,108
Trade receivable from and payables to former subsidiaries 11,163,618 8,396,737
Net cash used in operating activities (6,476,216) (12,553,629)
Cash flows from investing activities    
(Increase) Decrease in pledged deposits 2,449,193 (2,580,562)
Purchases of property, plant and equipment and construction in progress (8,738,549) (1,329,822)
Net cash used in investing activities (6,289,356) (3,910,384)
Cash flows from financing activities    
Advances from investors 2,056,706 0
Advances from former subsidiary 2,056,706 0
Proceeds from bank borrowings 0 19,410,639
Repayment of bank borrowings (1,469,076) (10,715,653)
Borrowings from unrelated parties 5,530,190 87,230
Repayment of borrowings from unrelated parties (5,874,816) (76,540)
Borrowings from related parties 2,083,150 4,289,084
Repayment of borrowings from related parties (1,522,697) 0
Proceeds from issuance of common stock 9,605,277 5,516,600
Net cash provided by financing activities 12,465,440 18,511,360
Effect of exchange rate changes on cash and cash equivalents 17,786 (174,763)
Net increase (decrease) in cash and cash equivalents (282,346) 1,872,584
Cash and cash equivalents at the beginning of period 408,713 80,711
Cash and cash equivalents at the end of period 126,367 1,953,295
Non-cash transactions:    
Transfer of construction in progress to property, plant and equipment 14,990,191 602,109
Cash paid during the period for:    
Income taxes 615,031 459,265
Interest, net of amounts capitalized $ 0 $ 0