CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Current Assets:    
Cash and cash equivalents $ 2,665,802 $ 6,248,760
Restricted cash 1,088,879 0
Trade accounts receivable, less allowance for doubtful accounts of $15,664,496 and $29,352,806, respectively 3,999,809 5,174,101
Other receivables, less allowance for doubtful accounts of $71,548 and $74,400, respectively 224,373 290,739
Advances to suppliers 2,003,792 2,533,354
Inventory 7,310,939 9,662,750
Prepaid expenses 226,357 339,140
Total Current Assets 17,519,951 24,248,844
Advances for purchases of intangible assets 35,498,059 42,030,649
Property and equipment, net 24,967,448 29,393,257
Intangible assets, net 534,682 841,075
TOTAL ASSETS 78,520,140 96,513,825
Current Liabilities:    
Trade accounts payable 3,060,374 2,439,355
Accrued expenses 139,830 143,409
Other payables 2,502,694 2,095,449
Advances from customers 811,232 595,681
Other payables - related parties 1,354,567 1,354,567
Current portion of construction loan facility 1,440,154 1,540,666
Bankers' acceptance notes payable 1,088,879 0
Short-term notes payable 0 4,621,998
Total Current Liabilities 10,397,730 12,791,125
Non-current Liabilities:    
Construction loan facility 8,640,927 10,784,661
Deferred tax liability 572,349 296,890
Total Liabilities 19,611,006 23,872,676
Stockholders' Equity:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued or outstanding 0 0
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 24,757,374 33,939,998
Accumulated other comprehensive income 10,517,976 15,067,367
Total Stockholders' Equity 58,909,134 72,641,149
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 78,520,140 $ 96,513,825