XML 28 R6.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash Flows from Operating Activities:    
Net loss $ (15,405,518) $ (39,550,760)
Depreciation and amortization 3,598,527 1,785,835
Bad debt expense 10,147,293 31,352,579
Deferred income taxes 60,439 77,042
Inventory obsolescence reserve 1,941,007 (1,055,529)
Impairment of intangible assets 104,544 0
Deferred revenue (1,744,873) 2,514,457
Changes in assets and liabilities:    
Trade accounts and other receivables (5,067,476) (3,163,945)
Advances to suppliers 5,144,100 1,283,631
Inventory 5,157,861 12,780,457
Trade accounts payable 601,470 634,673
Accrued taxes payable 34,802 84
Other payables and accrued expenses 163,289 37,584
Advances from customers (1,430,595) (139,066)
Prepaid expenses 45,190 (404,060)
Net Cash Provided by Operating Activities 3,350,060 6,152,982
Cash Flows from Investing Activities:    
Advances for purchases of intangible assets (1,634,097) (2,295,307)
Bankers acceptances redeemed for cash 423,693 0
Purchases of property and equipment (685,302) (5,128,699)
Net Cash Used in Investing Activities (1,895,706) (7,424,006)
Cash Flows from Financing Activities:    
Proceeds from construction term loan 0 605,002
Net Cash Provided by Financing Activity 0 605,002
Effect of Exchange Rate Changes on Cash (501,384) (31,327)
Net (Decrease) Increase in Cash and Cash Equivalents 952,970 (697,349)
Cash and Cash Equivalents at Beginning of Period 5,295,790 5,993,139
Cash and Cash Equivalents at End of Period 6,248,760 5,295,790
Supplemental Cash Flow Information:    
Cash paid for interest 1,151,613 1,230,800
Supplemental Noncash Investing and Financing Activities:    
Accounts payable for purchases of property and equipment 171,245 46,780
Accounts receivable collected with banker's acceptances 2,422,137 2,777,579
Inventory purchased with banker's acceptances 2,059,028 2,489,698
Advances for purchases of intangibles paid with banker's acceptances $ 391,826 $ 164,208