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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents $ 667,629 $ 2,030,214
Restricted cash 1,476,344 709,796
Banker's acceptances 39,867
Trade accounts receivable, less allowance for doubtful accounts of $18,658,490 and $18,209,734, respectively 793,779 2,293,120
Other receivables, less allowance for doubtful accounts of $39,323 and $40,010, respectively 177,314 162,981
Advances to suppliers 332,698 461,307
Inventory 6,099,999 6,407,155
Prepaid expenses 162,628 185,647
Total Current Assets 9,710,391 12,290,087
Advances for purchases of intangible assets 22,478,660 23,722,954
Property, plant and equipment, net 20,056,635 23,541,003
Intangible assets, net 289,054 398,856
TOTAL ASSETS 52,534,740 59,952,900
Current Liabilities:    
Trade accounts payable 588,717 1,141,138
Accrued expenses 182,692 276,368
Other payables 3,347,444 2,858,701
Advances from customers 632,852 581,132
Other payables - related parties 1,354,567 1,354,567
Current portion of construction loan facility 2,184,508 2,305,430
Bankers' acceptance notes payable 1,476,344 709,796
Total Current Liabilities 9,767,124 9,227,132
Non-current Liabilities:    
Construction loan facility 4,369,016 6,916,291
Deferred tax liability 765,477 738,175
Total Liabilities 14,901,617 16,881,598
Commitments and Contingencies (Note 12)
Stockholders' Equity:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued or outstanding
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 2,321,761 5,479,809
Accumulated other comprehensive income 11,677,578 13,957,709
Total Stockholders' Equity 37,633,123 43,071,302
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 52,534,740 $ 59,952,900