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1. BASIS OF PRESENTATION AND CONSOLIDATION (Tables)

6 Months Ended

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