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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUES:        
Revenue $ 3,125,596 $ 4,479,113 $ 10,308,320 $ 15,848,218
Cost of revenue 2,695,900 3,720,447 8,635,392 12,667,104
Inventory obsolescence 79,728 436,666 200,044 1,855,814
Gross (loss) profit 349,968 322,000 1,472,884 1,325,300
Operating expenses:        
Selling expenses 927,187 1,155,137 2,753,388 3,156,553
General and administrative expenses 294,367 384,412 1,394,250 1,315,867
Research and development expenses 99,095 405,438 289,189 741,116
Bad debt expense (benefit) (69,899) (3,160,862) 1,005,949 6,045,352
Impairment of long term assets 644,696 0 1,467,235 0
Total operating expenses 1,895,446 (1,215,875) 6,910,011 11,258,888
Subsidy income (2,325) 1,655,683 346,347 1,655,683
Income (loss) from operations (1,547,803) 3,193,558 (5,090,780) (8,277,905)
Other income (expense):        
Interest income 32,434 36,185 99,149 93,262
Interest expense (213,740) (279,113) (699,932) (915,310)
Net other expense (181,306) (242,928) (600,783) (822,048)
Income (loss) before income taxes (1,729,109) 2,950,630 (5,691,563) (9,099,953)
Income tax expense (20,800) (18,906) (65,044) (57,618)
Net income (loss) (1,749,909) 2,931,724 (5,756,607) (9,157,571)
Other comprehensive income (loss) - foreign currency translation adjustment (275,928) (3,794,761) (1,949,137) (2,959,348)
Comprehensive income (loss) $ (2,025,837) $ (863,037) $ (7,705,744) $ (12,116,919)
Income (loss) per share:        
Basic $ (0.04) $ 0.07 $ (0.13) $ (0.21)
Diluted $ (0.04) $ 0.07 $ (0.13) $ (0.21)