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Transition period | 12 Months Ended
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Dec. 31, 2017
Transition period [Text Block] |
2. | Transition period
On January 16, 2017, the Board of Directors of the Company approved a change in the Company’s fiscal year end from September 30 th to December 31 st . The company is presenting audited financial statements for the three months ended December 31, 2016 accordingly. The following table set forth certain unaudited comparative financial information for the same period of the prior year.
|  | Three months ended December 31, |
|  | 2015 |  |  | 2016 |
|  | (unaudited) |  |  |  |
Net revenues | $ | 5,500,589 |  | $ | 3,500,516 |
Cost of revenues |  | (5,658,887 | ) |  | (3,974,617 | )
Gross loss |  | (158,298 | ) |  | (474,101 | )
Operating expenses: |  |  |  |  |  |
Research and development expenses |  | (747,537 | ) |  | (439,005 | )
Sales and marketing expenses |  | (170,458 | ) |  | (172,972 | )
General and administrative expenses |  | (1,029,711 | ) |  | (1,109,297 | )
Provision for doubtful accounts |  | - |  |  | (44,861 | )
Total operating expenses |  | (1,947,706 | ) |  | (1,766,135 | )
Operating loss |  | (2,106,004 | ) |  | (2,240,236 | )
Finance income, net |  | 2,006 |  |  | 9,000 |
Other income, net |  | 43,392 |  |  | 36,839 |
Loss before income tax |  | (2,060,606 | ) |  | (2,194,397 | )
Income tax expense |  | (72,067 | ) |  | - |
Net loss |  | (2,132,673 | ) |  | (2,194,397 | )
Loss per share – Basic and diluted | $ | (0.12 | ) | $ | (0.11 | )
Weighted average number of shares of common stock – Basic and diluted |  | 17,171,953 |  |  | 19,745,873 |

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- Definition Transition period + References No definition available. + Details
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