XML 18 R6.htm IDEA: XBRL DOCUMENT v3.6.0.2
Condensed Consolidated statements of cash flows - USD ($)
 3 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities    
Net loss $ (2,194,397) $ (2,132,673)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 233,913 285,873
Provision for doubtful debts 44,861 46,687
Write-down of inventories 414,919 142,125
Share-based compensation 345,079 373,464
Deferred tax assets 0 72,067
Exchange loss 121,768 107,271
Changes in operating assets and liabilities:    
Trade accounts and bills receivable (227,521) (124,184)
Inventories (1,640,307) (1,609,877)
Prepayments and other receivables (212,989) (823,758)
Trade accounts and bills payable (2,277,799) 5,237,197
Accrued expenses and other payables 407,055 379,903
Income taxes payable 439,080 0
Trade receivable from and payables to former subsidiaries (1,778,157) (3,287,802)
Net cash used in operating activities (6,324,495) (1,333,707)
Cash flows from investing activities    
(Increase) decrease in pledged deposits 112,893 (606,979)
Proceeds on disposal of property, plant and equipment 7,904 0
Purchases of property, plant and equipment and construction in progress (1,669,885) (4,596,853)
Net cash used in investing activities (1,549,088) (5,203,832)
Cash flows from financing activities    
Borrowings from unrelated parties 1,108,459 0
Borrowings from related parties 5,297,399 0
Net cash provided by financing activities 6,405,858 0
Effect of exchange rate changes on cash and cash equivalents (76,857) (144,495)
Net decrease in cash and cash equivalents (1,544,582) (6,682,034)
Cash and cash equivalents at the beginning of period 1,953,295 6,762,745
Cash and cash equivalents at the end of period 408,713 80,711
Non-cash transactions:    
Transfer of construction in progress to property, plant and equipment 298,203 0
Cash paid during the period for:    
Income taxes 0 0
Interest, net of amounts capitalized $ 0 $ 0