XML 52 R39.htm IDEA: XBRL DOCUMENT v3.10.0.1
Loans (Tables)
9 Months Ended
Sep. 30, 2018
SCHEDULE OF DEBT [Table Text Block]
    December 31,     September 30,  
    2017     2018  
Current maturities of long-term bank loans $   -   $ 4,368,211  
Long-term bank borrowings   19,489,702     18,681,383  
  $ 19,489,702   $ 23,049,594  
SCHEDULE OF FACILITIES SECURED BY THE COMPANY'S ASSETS [Table Text Block]
    December 31,     September 30,  
    2017     2018  
Pledged deposits (note 2) $ 7,808,329   $ 17,668,797  
Prepaid land use rights (note 9)   8,044,935     7,498,421  
Buildings   18,391,993     16,848,321  
Machinery and equipment   2,374,748     6,420,884  
Bills receivable (note 3)   19,047,471     9,427,448  
  $ 55,667,476   $ 57,863,871  
SCHEDULE OF ADVANCE FROM RELATED PARTIES [Table Text Block]
          December 31,     September 30,  
    Note     2017     2018  
Advance from related parties                  
– Tianjin BAK New Energy Research Institute Co., Ltd (“Tianjin New Energy”)   (a)   $ 11,493,437   $ 13,139,584  
– Mr. Xiangqian Li, the Company’s Former CEO   (b)     100,000     100,000  
– Mr. Yunfei Li   (c)     -     116,486  
– Shareholders   (d)     2,151,860     2,038,499  
          13,745,297     15,394,569  
Advances from unrelated third party                  
– Mr. Wenwu Yu   (e)     155,215     147,038  
– Mr. Mingzhe Li   (e)     44,269     -  
– Ms. Longqian Peng   (e)     691,669     655,231  
– Hubei Yanguang Energy Technology., Ltd   (e)     -     72,804  
          891,153     875,073  
        $ 14,636,450   $ 16,269,642