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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Current Assets:    
Cash and cash equivalents $ 7,261,777 $ 6,248,760
Banker's acceptances 116,317 0
Trade accounts receivable, less allowance for doubtful accounts of $29,598,703 and $28,644,398, respectively 4,791,247 5,882,509
Other receivables, less allowance for doubtful accounts of $78,558 and $74,400, respectively 191,958 290,739
Advances to suppliers 2,643,516 2,533,354
Inventory, less allowance for obsolescence of $6,696,224 and $8,417,095, respectively 9,917,139 9,662,750
Prepaid expenses 195,081 339,140
Total Current Assets 25,117,035 24,957,252
Advances for purchases of intangible assets 42,309,641 42,030,649
Property and equipment, net of accumulated depreciation of $10,286,937 and $9,442,912, respectively 28,826,692 29,393,257
Intangible assets, net of accumulated amortization of $4,456,837 and $4,360,004, respectively 778,766 841,075
TOTAL ASSETS 97,032,134 97,222,233
Current Liabilities:    
Trade accounts payable 3,744,095 2,824,521
Accrued expenses 113,627 143,409
Other payables 1,712,024 1,710,283
Advances from customers 932,653 595,681
Other payables - related parties 1,354,567 1,354,567
Current portion of construction loan facility 1,550,893 1,540,666
Short-term notes payable 4,652,678 4,621,998
Total Current Liabilities 14,060,537 12,791,125
Non-current Liabilities:    
Construction loan facility 10,546,069 10,784,661
Deferred revenue 534,833 708,408
Long-term deferred tax liability 322,012 296,890
Total Liabilities 25,463,451 24,581,084
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 32,387,102 33,939,998
Accumulated other comprehensive income 15,547,797 15,067,367
Total Stockholders' Equity 71,568,683 72,641,149
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 97,032,134 $ 97,222,233