XML 14 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
NET REVENUE    
Net revenue $ 2,247,267 $ 32,788,493
OPERATING INCOME (EXPENSE)    
Cost of net revenue (1,241,809) (20,213,863)
Sales, marketing and other operating expenses (34,974) (75,833)
Research and development cost 0 (61,898)
Direct labor and factory overheads incurred during plant shutdown (5,695,519) 0
General and administrative expenses (3,571,945) (1,728,460)
Other operating income 0 104,558
Total Costs and Expenses (10,544,247) (21,975,496)
INCOME/(LOSS) FROM OPERATIONS (8,296,980) 10,812,997
OTHER INCOME (EXPENSE)    
Interest expense (43,344) (41,911)
Interest income 169,478 125,860
INCOME/(LOSS) BEFORE TAXES (8,170,846) 10,896,946
INCOME TAX (EXPENSE) BENEFIT 1,193,746 (2,821,826)
NET INCOME/(LOSS) (6,977,100) 8,075,120
COMPREHENSIVE INCOME:    
NET INCOME/(LOSS) (6,977,100) 8,075,120
OTHER COMPREHENSIVE INCOME    
Foreign currency translation adjustments 15,948,911 2,037,272
COMPREHENSIVE INCOME $ 8,971,811 $ 10,112,392
EARNINGS (LOSS) PER SHARE:    
BASIC $ (0.15) $ 0.17
DILUTED $ (0.15) $ 0.17
WEIGHTED AVERAGE NUMBER OF SHARES:    
BASIC 46,803,791 46,793,791
DILUTED 46,826,388 46,804,241