XML 12 R2.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2015
Dec. 31, 2014
Current Assets:    
Cash and cash equivalents $ 5,741,709 $ 5,295,790
Banker's acceptances 312,801 458,233
Trade accounts receivable, less allowance for doubtful accounts of $48,680,260 and $44,347,351, respectively 8,019,872 13,853,744
Other receivables, less allowance for doubtful accounts of $84,280 and $60,325, respectively 419,022 272,199
Advances to suppliers 9,314,711 7,889,009
Inventory, less allowance for obsolescence of $7,355,699 and $6,934,044, respectively 12,290,243 15,321,856
Prepaid expenses 0 404,370
Total Current Assets 36,098,358 43,495,201
Advances for purchases of intangible assets 41,337,205 42,390,186
Property and equipment, net of accumulated depreciation of $8,862,709 and $6,640,718, respectively 30,453,919 33,881,878
Intangible assets, net of accumulated amortization of $4,389,602 and $4,186,273, respectively 1,034,058 1,317,221
TOTAL ASSETS 108,923,540 121,084,486
Current Liabilities:    
Trade accounts payable 4,329,918 2,550,816
Accrued expenses 221,856 269,870
Other payables 1,436,124 1,401,470
Advances from customers 914,276 2,078,866
Other payables - related parties 1,354,567 1,354,567
Current portion of construction loan facility 3,147,723 1,629,062
Short-term notes payable 4,721,584 4,887,187
Total Current Liabilities 16,126,048 14,171,838
Non-current Liabilities:    
Construction loan facility 9,443,167 11,403,438
Deferred revenue 2,431,114 2,516,383
Long-term deferred tax liability 300,010 252,707
Total Liabilities 28,300,339 28,344,366
Stockholders' Equity:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued or outstanding 0 0
Common stock, $0.001 par value; 95,000,000 shares authorized; 43,579,557 shares and 43,579,557 shares outstanding, respectively 43,580 43,580
Additional paid-in capital 23,590,204 23,590,204
Retained earnings 40,187,945 49,345,516
Accumulated other comprehensive income 16,801,472 19,760,820
Total Stockholders' Equity 80,623,201 92,740,120
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 108,923,540 $ 121,084,486