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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018
NET REVENUE |  |  |  |
Net revenue | $ 4,548,542 | $ 343,080 | $ 10,596,521 | $ 2,594,941
OPERATING INCOME (EXPENSE) |  |  |  |
Cost of net revenue | (2,403,532) | (68,456) | (5,430,269) | (1,310,272)
Sales, marketing and other operating expenses | (5,821) | (10,112) | (12,434) | (66,111)
Write-off/Impairment on property, plant and equipment | 0 | (1,397,313) | 0 | (1,397,313)
Loss on demolition of factory | 0 | (18,644,473) | 0 | (18,644,473)
Direct labor and factory overheads incurred during plant shutdown | (3,485,383) | (5,563,494) | (10,653,690) | (16,948,499)
General and administrative expenses | (5,020,215) | (1,323,933) | (8,460,733) | (6,021,561)
Other operating income (loss) | 0 | (134,216) | 0 | (134,216)
Total Costs and Expenses | (10,914,951) | (27,141,997) | (24,557,126) | (44,522,445)
LOSS FROM OPERATIONS | (6,366,409) | (26,798,917) | (13,960,605) | (41,927,504)
OTHER INCOME (EXPENSE) |  |  |  |
Interest expense | (34,310) | (37,220) | (111,530) | (123,749)
Interest income | 101,130 | 161,582 | 369,582 | 509,738
LOSS BEFORE TAXES | (6,299,589) | (26,674,555) | (13,702,553) | (41,541,515)
INCOME TAX (EXPENSE) BENEFIT | (6,729,439) | 7,181,521 | (4,968,318) | 10,258,508
NET LOSS | (13,029,028) | (19,493,034) | (18,670,871) | (31,283,007)
COMPREHENSIVE LOSS: |  |  |  |
NET LOSS | (13,029,028) | (19,493,034) | (18,670,871) | (31,283,007)
OTHER COMPREHENSIVE LOSS |  |  |  |
Foreign currency translation adjustments | (8,690,103) | (14,738,766) | (9,127,344) | (19,376,831)
COMPREHENSIVE LOSS | $ (21,719,131) | $ (34,231,800) | $ (27,798,215) | $ (50,659,838)
LOSS PER SHARE: |  |  |  |
BASIC AND DILUTED | $ (.27) | $ (0.42) | $ (.40) | $ (0.67)
WEIGHTED AVERAGE NUMBER OF SHARES: |  |  |  |
BASIC AND DILUTED | 47,583,072 | 46,803,791 | 47,241,854 | 46,803,791

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