XML 15 R5.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash Flows from Operating Activities:    
Net loss $ (1,552,896) $ (4,069,290)
Depreciation and amortization 857,195 951,212
Bad debt expense 581,300 3,200,003
Deferred income taxes 22,828 19,284
Inventory obsolescence reserve (1,751,863) 201,097
Changes in assets and liabilities:    
Trade accounts and other receivables (61,069) (1,408,092)
Advances to suppliers (92,039) (154,575)
Inventory 1,967,359 396,521
Trade accounts payable 888,212 917,765
Accrued taxes payable (53,955) 18,019
Other payables and accrued expenses 25,514 (4,813)
Advances from customers 328,354 (243,289)
Prepaid expenses 144,262 173,919
Net Cash Provided by Operating Activities 1,303,202 (2,239)
Cash Flows from Investing Activities:    
Purchases of property and equipment (39,248) (47,106)
Net Cash Used in Investing Activities (39,248) (47,106)
Cash Flows from Financing Activities:    
Payments of construction term loan (305,835) 0
Net Cash Provided by Financing Activity (305,835) 0
Effect of Exchange Rate Changes on Cash 54,898 22,411
Net (Decrease) Increase in Cash and Cash Equivalents 1,013,017 (26,934)
Cash and Cash Equivalents at Beginning of Period 6,248,760 5,295,790
Cash and Cash Equivalents at End of Period 7,261,777 5,268,856
Supplemental Cash Flow Information:    
Cash paid for interest 1,151,613 1,230,800
Supplemental Noncash Investing and Financing Activities:    
Accounts receivable collected with banker's acceptances 517,770 464,075
Inventory purchased with banker's acceptances $ 403,081 $ 551,167