XML 13 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME (LOSS) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Dec. 31, 2016
REVENUE            
Revenue $ 8,856,888 $ 6,112,531 $ 20,822,317 $ 10,228,447 $ 30,013,378 $ 6,755,436
COST OF REVENUE 8,154,554 5,632,433 19,509,987 9,384,657 28,057,111 6,154,396
GROSS PROFIT 702,334 480,098 1,312,330 843,790 1,956,267 601,040
OPERATING EXPENSES            
General and administrative expenses 772,780 1,270,848 1,524,528 1,664,342 4,852,801 794,099
Depreciation and amortization expense 8,339 5,890 16,135 11,032 25,903 9,448
Impairment of goodwill 1,949,884 1,949,884
TOTAL OPERATING EXPENSES 781,119 1,276,738 1,540,663 3,625,258 6,828,588 803,547
LOSS FROM OPERATIONS (78,785) (796,640) (228,333) (2,781,468) (4,872,321) (202,507)
OTHER INCOME (EXPENSE)            
Other income 19
Interest expense - related party (66) (66) (132) (132) (2,592) (264)
Interest expense (272,419) (171,327) (558,997) (281,455) (748,474) (189,687)
Non-cash interest expense (490,771) (1,774,783) (886,483) (16,063)
Other expense (4,360) (1,584) (7,138) (13,234) (27,492) (12,764)
Forgiveness of debt (743) 48,880
Gain on exchange of equity investments, net of unrealized loss on change in fair value 1,826,160 1,826,160
Loss on extinguishment of debt (1,464,698)
Foreign currency transaction gain (loss) (196,627) 130,001 (114,344) 202,971 330,395 (178,967)
TOTAL OTHER EXPENSE 861,174 (42,976) (2,045,052) (91,850) (1,334,646) (397,726)
LOSS BEFORE INCOME TAXES 782,389 (839,616) (2,273,385) (2,873,318) (6,206,967) (600,233)
INCOME TAX EXPENSE (28) (32) (2,801) (769)
NET LOSS 782,389 (839,616) (2,273,413) (2,873,350) (6,209,768) (601,002)
OTHER COMPREHENSIVE INCOME (LOSS)            
Foreign currency translation gain (loss) 181,366 (111,658) 46,312 (126,677) (334,766) 55,215
TOTAL OTHER COMPREHENSIVE LOSS $ 963,755 $ (951,274) $ (2,227,101) $ (3,000,027) $ (6,544,534) $ (545,787)
BASIC AND DILUTED NET LOSS PER SHARE         $ (0.49) $ (0.05)
BASIC NET LOSS PER SHARE $ 0.06 $ (0.07) $ (0.18) $ (0.23)    
DILUTED NET LOSS PER SHARE $ 0.06 $ (0.07) $ (0.18) $ (0.23)    
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING            
Basic and Diluted         12,780,013 12,564,824
Basic 13,167,364 12,786,438 12,918,417 12,734,183    
Diluted 13,229,583 12,786,438 12,918,417 12,734,183