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1. BASIS OF PRESENTATION AND CONSOLIDATION (Tables)

9 Months Ended

Sep. 30, 2018

Accounting Policies [Abstract]

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 September 30,								Nine-Month Period Ended September 30,
		2018				2017				2018				2017
Numerator
Net income/(loss)		$	(19,493,034	)		$	3,425,640			$	(31,283,007	)		$	25,252,438
Denominator
Basic: Weighted-average common shares outstanding during the period			46,803,791				46,794,443				46,803,791				46,794,011
Add: Dilutive effect of stock options			—				103,552				—				39,019
Diluted			46,803,791				46,897,995				46,803,791				46,833,030
Net income/(loss) per share
Basic		$	(0.42	)		$	0.07			$	(0.67	)		$	0.54
Diluted		$	(0.42	)		$	0.07			$	(0.67	)		$	0.54

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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

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