CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current Assets:    
Cash and cash equivalents $ 3,650,039 $ 6,248,760
Restricted cash 1,470,014 0
Banker's acceptances 21,546 0
Trade accounts receivable, less allowance for doubtful accounts of $29,380,197 and $28,644,398, respectively 4,014,862 5,882,509
Other receivables, less allowance for doubtful accounts of $78,618 and $74,400, respectively 390,450 290,739
Advances to suppliers 2,614,053 2,533,354
Inventory, less allowance for obsolescence of $6,682,357 and $8,417,095, respectively 8,569,479 9,662,750
Prepaid expenses 259,234 339,140
Total Current Assets 20,989,677 24,957,252
Advances for purchases of intangible assets 39,457,197 42,030,649
Property and equipment, net of accumulated depreciation of $11,521,705 and $9,422,912, respectively 26,339,719 29,393,257
Intangible assets, net of accumulated amortization of $4,440,106 and $4,360,004, respectively 621,631 841,075
TOTAL ASSETS 87,408,224 97,222,233
Current Liabilities:    
Trade accounts payable 3,478,404 2,824,521
Accrued expenses 91,701 143,409
Other payables 1,801,087 1,710,283
Advances from customers 1,006,776 595,681
Other payables - related parties 1,354,567 1,354,567
Current portion of construction loan facility 1,499,390 1,540,666
Short-term notes payable 2,249,085 4,621,998
Banker's acceptance notes payable 1,470,014 0
Total Current Liabilities 12,951,024 12,791,125
Non-current Liabilities:    
Construction loan facility 8,996,338 10,784,661
Deferred revenue 172,357 708,408
Long-term deferred tax liability 353,100 296,890
Total Liabilities 22,472,819 24,581,084
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 28,183,391 33,939,998
Accumulated other comprehensive income 13,118,230 15,067,367
Total Stockholders' Equity 64,935,405 72,641,149
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 87,408,224 $ 97,222,233