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Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents $ 1,186,587 $ 2,030,214
Restricted cash 1,273,940 709,796
Banker's acceptances 20,579 39,867
Trade accounts receivable, less allowance for doubtful accounts of $17,815,075 and $18,209,734, respectively 916,931 2,293,120
Other receivables, less allowance for doubtful accounts of $34,884 and $40,010, respectively 170,098 162,981
Advances to suppliers 47 461,307
Inventory 5,054,975 6,407,155
Prepaid expenses 123,759 185,647
Total Current Assets 8,746,916 12,290,087
Advances for purchases of intangible assets 17,069,587 23,722,954
Property, plant and equipment, net 19,294,379 23,541,003
Intangible assets, net 266,443 398,856
TOTAL ASSETS 45,377,325 59,952,900
Current Liabilities:    
Trade accounts payable 1,060,934 1,141,138
Accrued expenses 310,804 276,368
Other payables 3,065,508 2,858,701
Advances from customers 525,647 581,132
Other payables - related parties 1,633,263 1,354,567
Current portion of construction loan facility 2,181,360 2,305,430
Bankers' acceptance notes payable 1,273,940 709,796
Total Current Liabilities 10,051,456 9,227,132
Non-current Liabilities:    
Construction loan facility 4,362,720 6,916,291
Deferred tax liability 764,374 738,175
Total Liabilities 15,178,550 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 (deficit) earnings (5,270,358) 5,479,809
Accumulated other comprehensive income 11,835,349 13,957,709
Total Stockholders' Equity 30,198,775 43,071,302
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 45,377,325 $ 59,952,900