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1. BASIS OF PRESENTATION AND CONSOLIDATION (Tables) | 6 Months Ended
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Jun. 30, 2018
Accounting Policies [Abstract] |
Rate of collection for accounts receivable |
Accounts Receivable Aging | Percent Collected
90-120 days | 0%
121-150 days | 0%
151-180 days | 0%
181-210 days | 16%
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,
|  | 2018 |  | 2017 |  | 2018 |  | 2017
Numerator |  |  |  |  |  |  |  |
Net income/(loss) |  | $ | (4,812,873 | ) |  | $ | 13,751,678 |  |  | $ | (11,789,973 | ) |  | $ | 21,826,798 |
Denominator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic: Weighted-average common shares outstanding during the period |  |  | 46,803,791 |  |  |  | 46,793,791 |  |  |  | 46,803,791 |  |  |  | 46,793,791 |
Add: Dilutive effect of stock options |  |  | — |  |  |  | 3,057 |  |  |  | 11,298 |  |  |  | 6,754 |
Diluted |  |  | 46,803,791 |  |  |  | 46,796,848 |  |  |  | 46,815,089 |  |  |  | 46,800,545 |
Net income/(loss) per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.10 | ) |  | $ | 0.29 |  |  | $ | (0.25 | ) |  | $ | 0.47 |
Diluted |  | $ | (0.10 | ) |  | $ | 0.29 |  |  | $ | (0.25 | ) |  | $ | 0.47 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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