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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current Assets:    
Cash and cash equivalents $ 761,606 $ 1,186,587
Restricted cash 489,208 1,273,940
Banker's acceptances 20,579
Trade accounts receivable, less allowance for doubtful accounts of $17,360,530 and $17,815,075, respectively 693,353 916,931
Other receivables, less allowance for doubtful accounts of $46,644 and $34,884, respectively 189,524 170,098
Advances to suppliers 2,933 47
Inventory 3,973,373 5,054,975
Prepaid expenses 129,248 123,759
Total Current Assets 6,239,245 8,746,916
Advances for purchases of intangible assets 16,595,462 17,069,587
Property, plant and equipment, net 16,697,256 19,294,379
Operating lease right of use asset 157,177
Intangible assets, net 211,491 266,443
TOTAL ASSETS 39,900,631 45,377,325
Current Liabilities:    
Trade accounts payable 1,158,067 1,060,934
Accrued expenses 140,753 310,804
Other payables 3,035,431 3,065,508
Advances from customers 498,768 525,647
Other payables - related parties 2,076,972 1,633,263
Operating lease liability, current portion 88,996
Current portion of construction loan facility 2,120,771 2,181,360
Bankers' acceptance notes payable 489,208 1,273,940
Total Current Liabilities 9,608,966 10,051,456
Non-current Liabilities:    
Construction loan facility 2,120,771 4,362,720
Operating lease liability, net of current portion 70,952
Deferred tax liability 743,143 764,374
Total Liabilities 12,543,832 15,178,550
Commitments and Contingencies (Note 13)
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
Accumulated deficit (7,227,146) (5,270,358)
Accumulated other comprehensive income 10,950,161 11,835,349
Total Stockholders' Equity 27,356,799 30,198,775
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 39,900,631 $ 45,377,325