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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 2,523,541 $ 2,665,802
Restricted cash 1,718,823 1,088,879
Banker's acceptances 14,513 0
Trade accounts receivable, less allowance for doubtful accounts of $16,161,252 and $15,664,496, respectively 3,703,593 3,999,809
Other receivables, less allowance for doubtful accounts of $56,157 and $71,548, respectively 272,097 224,373
Advances to suppliers 2,036,758 2,003,792
Inventory 6,985,965 7,310,939
Prepaid expenses 205,293 226,357
Total Current Assets 17,460,583 17,519,951
Advances for purchases of intangible assets 35,771,976 35,498,059
Property and equipment, net 24,422,373 24,967,448
Intangible assets, net 488,044 534,682
TOTAL ASSETS 78,142,976 78,520,140
Current Liabilities:    
Trade accounts payable 2,877,412 3,060,374
Accrued expenses 90,232 139,830
Other payables 2,355,365 2,502,694
Advances from customers 703,915 811,232
Other payables - related parties 1,354,567 1,354,567
Current portion of construction loan facility 1,440,154 1,440,154
Bankers' acceptance notes payable 1,718,823 1,088,879
Total Current Liabilities 10,540,468 10,397,730
Non-current Liabilities:    
Construction loan facility 8,573,590 8,640,927
Deferred tax liability 607,090 572,349
Total Liabilities 19,721,148 19,611,006
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 23,790,476 24,757,374
Accumulated other comprehensive income 10,997,568 10,517,976
Total Stockholders' Equity 58,421,828 58,909,134
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 78,142,976 $ 78,520,140