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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) | 12 Months Ended
--- | ---
Dec. 31, 2014 | Dec. 31, 2013
Revenue |  |
Revenue | $ 22,133,866 | $ 32,806,678
Cost of revenue | 17,215,576 | 23,405,886
Inventory obsolescence | 2,250,130 | 9,881,711
Gross profit | 2,668,160 | (480,919)
Operating expenses: |  |
Selling expenses | 3,346,511 | 3,284,905
General and administrative expenses | 1,716,760 | 2,404,338
Research and development expenses | 2,798,557 | 1,683,244
Bad debt expense | 31,352,579 | 10,752,991
Losses from natural disaster | 2,276,519 | 0
Total operating expenses | 41,490,926 | 18,125,478
Subsidy income | 65,113 | 0
Loss from operations | (38,757,653) | (18,606,397)
Other income (expense): |  |
Interest income | 69,739 | 8,457
Interest expense | (785,804) | (348,696)
Net other expense | (716,065) | (340,239)
Loss before income taxes | (39,473,718) | (18,946,636)
Income tax expense | (77,042) | (1,061,413)
Net loss | (39,550,760) | (20,008,049)
Other comprehensive income - foreign currency translation adjustment | (653,561) | 4,435,923
Comprehensive loss | $ (40,204,321) | $ (15,572,126)
Loss per share: |  |
Basic | $ (0.91) | $ (0.46)
Diluted | $ (0.91) | $ (0.46)

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