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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