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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current Assets    
Cash and bank balances $ 2,625,059 $ 8,474,809
Restricted cash 3,642,616
Accounts receivable (net of allowance for doubtful accounts of $49,173 and $58,707 as of March 31, 2019 and December 2018, respectively) 2,409,458 2,876,632
Inventories 4,156,848 2,923,516
Prepayments and other current assets 6,213,819 6,241,299
Total current assets 15,405,184 24,158,872
Property, plant, and equipment, net 167,245,378 167,829,716
Value-added tax recoverable 2,824,809 2,810,331
Deferred tax asset non-current 9,081,933 8,277,091
Total Assets 194,557,304 203,076,010
Current Liabilities    
Short-term bank loans 6,683,003 11,802,075
Current portion of long-term loans from credit union 2,539,541 2,491,549
Accounts payable 1,647,286 629,054
Notes payable 3,642,616
Due to related parties 513,423 413,336
Accrued payroll and employee benefits 305,148 213,536
Other payables and accrued liabilities 8,723,322 10,222,796
Income taxes payable 219,305
Total current liabilities 20,411,723 29,634,267
Loans from credit union 4,796,911 4,706,259
Loans from a related party 2,227,668 2,185,569
Total liabilities (including amounts of the consolidated VIE without recourse to the Company of $24,815,967 and $34,008,908 as of March 31, 2019 and December 31, 2018, respectively) 27,436,302 36,526,095
Commitments and Contingencies
Stockholders' Equity    
Common stock, 500,000,000 shares authorized, $0.001 par value per share, 22,022,316 and 21,450,316 shares issued and outstanding as of March 31, 2019 and December 31,2018, respectively 22,360 22,360
Additional paid-in capital 51,137,319 51,137,319
Statutory earnings reserve 6,080,574 6,080,574
Accumulated other comprehensive income (loss) 29,728 (3,263,952)
Retained earnings 109,851,021 112,573,614
Total stockholders' equity 167,121,002 166,549,915
Total Liabilities and Stockholders' Equity $ 194,557,304 $ 203,076,010