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12. INCOME TAXES (Tables)

6 Months Ended

Jun. 30, 2017

Income Tax Disclosure [Abstract]

Schedule of components of the provision for income taxes

		Three-Month Period Ended June 30,								Six-Month Period Ended June 30,
		2017				2016				2017				2016
Current taxes – PRC		$	4,821,450			$	4,210,422			$	7,643,276			$	6,478,093
Deferred taxes – PRC			—				—				—				—
		$	4,821,450			$	4,210,422			$	7,643,276			$	6,478,093

Schedule of income tax expenses reconciliation

	Three-Month Period Ended June 30,								Six-Month Period Ended June 30,
Reconciliations	2017				2016				2017				2016
Statutory income tax rate		25	%			25	%			25	%			25	%
Non-deductible (Non-taxable)item		1	%			(1	%)			1	%			-
Effective tax rate		26	%			24	%			26	%			25	%

Schedule of deferred tax assets and liabilities

		June 30,				December 31,
		2017				2016
Deferred tax liabilities		$	—			$	—
Deferred tax assets:
Allowance for obsolete and slow-moving inventories		$	—			$	—
Impairment on property, plant and equipment			431,213				421,106
Exploration costs			1,837,744				1,794,666
Compensation costs of unexercised stock options			109,386				120,986
US federal net operating loss			11,660,000				11,575,000
Total deferred tax assets			14,038,343				13,911,758
Valuation allowance			(11,769,386	)			(11,695,986	)
Net deferred tax asset		$	2,268,957			$	2,215,772

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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