XML 80 R68.htm IDEA: XBRL DOCUMENT v3.10.0.1
Subsequent Events (Details)
 1 Months Ended 9 Months Ended
Oct. 29, 2018
USD ($)
$ / shares
shares
Sep. 30, 2018
USD ($)
shares
Sep. 30, 2018
CNY (¥)
shares
Common Stock [Member]      
Subsequent Events (Textual)      
Purchase price   $ 2,600,000  
Preferred Stock [Member]      
Subsequent Events (Textual)      
Purchase price in shares | shares   17,376,950 17,376,950
Equity Purchase Agreement [Member] | Xi'an TCH [Member]      
Subsequent Events (Textual)      
Acquired interest rate   20.00% 20.00%
Equity Purchase Agreement [Member] | Shanghai TCH [Member]      
Subsequent Events (Textual)      
Purchase price   $ 46.72 ¥ 320
Description of purchase transactions   The Purchase Agreement, Shanghai TCH shall purchase the Acquired Interests for an aggregate purchase price of RMB 320 million ($46.72 million) (the "Purchase Price"), which shall be paid as follows: (i) in cash RMB 60 million ($8.76 million); (ii) in the form of 2.6 million shares of the Company's common stock using a value of $1.90 per share; and (iii) in the form of 17,376,950 shares of the Company's preferred stock using a value of $1.90 per share. The preferred shares shall have no voting rights but shall have preferential dividend rights to participate in and receive a 15% premium on a per share basis for any dividends declared and paid by the Company on its common stock. The holder of the preferred shares shall have the right to convert the preferred shares into shares of the Company's common stock on a 1:1 basis after the six month anniversary of the issuance of the preferred shares, but the Holder may only exercise such conversion right to the extent that, after giving effect to the issuance of common stock after such conversion, the Holder would beneficially own less than 20% of the Company's issued and outstanding common stock. The Purchase Agreement, Shanghai TCH shall purchase the Acquired Interests for an aggregate purchase price of RMB 320 million ($46.72 million) (the "Purchase Price"), which shall be paid as follows: (i) in cash RMB 60 million ($8.76 million); (ii) in the form of 2.6 million shares of the Company's common stock using a value of $1.90 per share; and (iii) in the form of 17,376,950 shares of the Company's preferred stock using a value of $1.90 per share. The preferred shares shall have no voting rights but shall have preferential dividend rights to participate in and receive a 15% premium on a per share basis for any dividends declared and paid by the Company on its common stock. The holder of the preferred shares shall have the right to convert the preferred shares into shares of the Company's common stock on a 1:1 basis after the six month anniversary of the issuance of the preferred shares, but the Holder may only exercise such conversion right to the extent that, after giving effect to the issuance of common stock after such conversion, the Holder would beneficially own less than 20% of the Company's issued and outstanding common stock.
Subsequent Event [Member] | Private Placement [Member]      
Subsequent Events (Textual)      
Purchase price $ 250,000    
Description of purchase transactions The Warrants will be exercisable on the date of issuance at an initial exercise price of $1.3725 per share and will expire on the five and a half year anniversary of the date of issuance.    
Purchase price per share | $ / shares $ 0.125    
Subsequent Event [Member] | Securities Purchase Agreements [Member]      
Subsequent Events (Textual)      
Description of purchase transactions The Company's exclusive placement agent in connection with the offerings under the Purchase Agreement and will receive an aggregate cash fee equal to 7.0% of the gross proceeds received by the Company from the offerings, an aggregate of up to $75,000 for certain expenses and warrants to purchase our Common Stock in an amount equal to 7% of our Shares sold to the Purchasers in the offerings, or 138,956 shares of Common Stock, on substantially the same terms as the Warrants, with an initial exercise price of $1.875 per share and expiration date of October 29, 2023 (the "Placement Agent Warrants").    
Subsequent Event [Member] | Securities Purchase Agreements [Member] | Common Stock [Member]      
Subsequent Events (Textual)      
Purchase price $ 2,750,000    
Purchase price in shares | shares 1,985,082    
Purchase price per share | $ / shares $ 1.375