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1. BASIS OF PRESENTATION AND CONSOLIDATION (Tables)

6 Months Ended

Jun. 30, 2017

Accounting Policies [Abstract]

Rate of collection for accounts receivable

Accounts Receivable Aging	Percent Collected
90-120 days	17%
121-150 days	31%
151-180 days	8%
181-210 days	54%
211-240 days	100%

Schedule of property plant and equipment useful life

		Useful life (in years)
Buildings (including salt pans)		8 - 20
Plant and machinery (including protective shells, transmission channels and ducts)		3 - 8
Motor vehicles		5
Furniture, fixtures and equipment		3-8

Schedule of earnings per share

		Three-Month Period Ended June 30,								Six-Month Period Ended June 30,
		2017				2016				2017				2016
Numerator
Net income		$	13,751,678			$	13,197,019			$	21,826,798			$	19,663,983

Denominator
Basic: Weighted-average common shares outstanding during the period			46,793,791				46,008,102				46,793,791				46,007,611
Add: Dilutive effect of stock options			3,057				622,989				6,754				678,098
Diluted			46,796,848				46,631,091				46,800,545				46,685,709

Earnings per share
Basic		$	0.29			$	0.29			$	0.47			$	0.43
Diluted		$	0.29			$	0.28			$	0.47			$	0.42