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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current Assets:    
Cash and cash equivalents $ 6,248,760 $ 5,295,790
Banker's acceptances 0 458,233
Trade accounts receivable, less allowance for doubtful accounts of $28,644,398 and $44,347,451, respectively 5,882,509 13,853,744
Other receivables, less allowance for doubtful accounts of $74,400 and $43,064, respectively 290,739 272,199
Advances to suppliers 2,533,354 6,307,190
Inventory, less allowance for obsolescence of $8,417,095 and $6,934,044, respectively 9,662,750 15,321,856
Prepaid expenses 339,140 404,370
Total Current Assets 24,957,252 41,913,382
Advances for purchases of intangible assets 42,030,649 43,972,005
Property and equipment, net of accumulated depreciation of $9,442,912 and $6,640,718, respectively 29,393,257 33,881,878
Intangible assets, net of accumulated amortization of $4,360,004 and $4,182,273, respectively 841,075 1,317,221
TOTAL ASSETS 97,222,233 121,084,486
Current Liabilities:    
Trade accounts payable 2,824,521 2,550,816
Accrued expenses 143,409 269,870
Other payables 1,710,283 1,401,470
Advances from customers 595,681 2,078,866
Other payables - related parties 1,354,567 1,354,567
Current portion of construction loan facility 1,540,666 1,629,062
Short-term notes payable 4,621,998 4,887,187
Total Current Liabilities 12,791,125 14,171,838
Non-current Liabilities:    
Construction loan facility 10,784,661 11,403,438
Deferred revenue 708,408 2,516,383
Long-term deferred tax liability 296,890 252,707
Total Liabilities 24,581,084 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 33,939,998 49,345,516
Accumulated other comprehensive income 15,067,367 19,760,820
Total Stockholders' Equity 72,641,149 92,740,120
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 97,222,233 $ 121,084,486