XML 26 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
REVENUES:    
Revenue $ 20,351,630 $ 22,133,866
Cost of revenue 15,778,243 17,215,576
Inventory obsolescence 3,108,826 2,250,130
Operating expenses:    
Selling expenses 4,294,639 3,346,511
General and administrative expenses 1,896,559 1,716,760
Bad debt expense 10,147,293 31,352,579
Impairment of intangible assets 104,544 0
Losses from natural disaster 0 2,276,519
Total operating expenses 17,404,932 41,490,926
Subsidy income 1,640,531 65,113
Loss from operations (14,299,840) (38,757,653)
Other income (expense):    
Interest income 119,925 69,739
Interest expense (1,165,164) (785,804)
Net other expense (1,045,239) (716,065)
Loss before income taxes (15,345,079) (39,473,718)
Income tax expense (60,439) (77,042)
Net loss (15,405,518) (39,550,760)
Other comprehensive loss - foreign currency translation adjustment (4,693,453) (653,561)
Comprehensive loss $ (20,098,971) $ (40,204,321)
Loss per share:    
Basic $ (0.35) $ (0.91)
Diluted $ (0.35) $ (0.91)