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SCHEDULE I – PARENT ONLY FINANCIAL INFORMATION (Details 2) - USD ($) | 12 Months Ended
--- | ---
Dec. 31, 2018 | Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES |  |
Net income/(loss) | $ (69,963,986) | $ 7,953,313
Adjustments to reconcile net income (loss) to net cash provided by operating activities: |  |
Stock-based compensation expense -options | 496,200 | 372,400
Shares issued from treasury stock for services | 0 | 17,800
Changes in assets and liabilities |  |
Other payables and accrued expenses | (106,163) | (8,203,290)
Net cash provided by operating activities | 17,340,671 | 62,751,616
CASH FLOWS FROM FINANCING ACTIVITIES |  |
Net cash used in financing activities | (294,295) | (273,873)
NET INCREASE IN CASH AND CASH EQUIVALENTS | (29,907,824) | 45,022,185
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR | 208,906,759 | 163,884,574
CASH AND CASH EQUIVALENTS - END OF YEAR | 178,998,935 | 208,906,759
Parent |  |
CASH FLOWS FROM OPERATING ACTIVITIES |  |
Net income/(loss) | (69,963,986) | 7,953,313
Adjustments to reconcile net income (loss) to net cash provided by operating activities: |  |
Equity loss (earnings) in unconsolidated subsidiaries | 68,901,812 | (8,965,320)
Stock-based compensation expense -options | 496,200 | 372,400
Shares issued from treasury stock for services | 0 | 17,800
Changes in assets and liabilities |  |
Other payables and accrued expenses | 4,888 | 2,760
Net cash provided by operating activities | (561,086) | (619,047)
CASH FLOWS FROM FINANCING ACTIVITIES |  |
Advances from group companies | 561,086 | 619,047
Net cash used in financing activities | 561,086 | 619,047
NET INCREASE IN CASH AND CASH EQUIVALENTS | 0 | 0
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR | 0 | 0
CASH AND CASH EQUIVALENTS - END OF YEAR | $ 0 | $ 0

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