0001214659-16-014599.txt : 20161114 0001214659-16-014599.hdr.sgml : 20161111 20161114153747 ACCESSION NUMBER: 0001214659-16-014599 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 66 CONFORMED PERIOD OF REPORT: 20160930 FILED AS OF DATE: 20161114 DATE AS OF CHANGE: 20161114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ZAP CENTRAL INDEX KEY: 0001024628 STANDARD INDUSTRIAL CLASSIFICATION: MOTORCYCLES, BICYCLES & PARTS [3751] IRS NUMBER: 943210624 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-32534 FILM NUMBER: 161994368 BUSINESS ADDRESS: STREET 1: 501 FOURTH STREET CITY: SANTA ROSA STATE: CA ZIP: 95401 BUSINESS PHONE: 7075258658 MAIL ADDRESS: STREET 1: 501 FOURTH STREET CITY: SANTA ROSA STATE: CA ZIP: 95401 FORMER COMPANY: FORMER CONFORMED NAME: ZAPWORLD COM DATE OF NAME CHANGE: 19990715 FORMER COMPANY: FORMER CONFORMED NAME: ZAP POWER SYSTEMS INC DATE OF NAME CHANGE: 19970319 10-Q 1 z111116010q.htm FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2016
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
Form 10-Q
______________________
(Mark One)
 
☒
QUARTERLY REPORT UNDER SECTION  13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
 
For the quarterly period ended September 30, 2016
 
☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
 
For the transition period from ________ to _________
 
Commission File Number    001-32534
 
ZAP
(Exact name of registrant as specified in its charter)
 
 
California
94-3210624
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification Number)
 
 
2 West 3rd Street
Santa Rosa, California
95401
(Address of principal executive offices)
(Zip Code)
 
Registrant’s telephone number, including area code: (707) 525-8658
 
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
 
Yes  ☒   No  ☐
 
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data Filer required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files.
 
Yes  ☒   No  ☐
 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a small reporting company.  See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
 
 Large accelerated filer  ☐
Accelerated filer  ☐
Non-accelerated filer  ☐
Smaller reporting
company  ☒
 
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
 
Yes  ☐   No  ☒
 
As of November 9, 2016, there were 605,937,077 shares outstanding of the registrant’s common stock.   
 
 
1
 
INDEX
 
 
Page
No.
 
 
 
PART I. Financial Information
 
 
 
 
Item 1.
Financial Statements (Unaudited)
 
 
 
 
 
Condensed Consolidated Balance Sheets as of September 30, 2016 and December 31, 2015
3
 
 
 
 
Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and
nine months ended September 30, 2016 and 2015
5
 
 
 
 
Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2016 and
2015
6
 
 
 
 
Notes to Condensed Consolidated Financial Statements
8
 
 
 
Item 2.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
24
 
 
 
Item 3.
Quantitative and Qualitative Disclosures about Market Risk
33
 
 
 
Item 4.
Controls and Procedures
33
 
 
PART II. Other Information
 
 
 
 
Item 1.
Legal Proceedings
33
 
 
 
Item 1A.
Risk Factors
33
 
 
 
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
34
 
 
 
Item 3.
Defaults Upon Senior Securities
34
 
 
 
Item 4.
Mine Safety Disclosures
34
 
 
 
Item 5.
Other Information
34
 
 
 
Item 6.
Exhibits
34
 
 
 
SIGNATURES
 
35
 
2
 
PART I – FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

ZAP AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
(Unaudited)

    
September 30,
    
December 31,
  
ASSETS
  
2016
    
2015
  
             
Current assets:
            
Cash and cash equivalents
  
$
108
    
$
60
  
Restricted cash
    
7,721
      
8,988
  
Accounts receivable, net
    
5,096
      
5,915
  
Inventories, net
    
6,872
      
7,743
  
Prepaid taxes
    
-
      
147
  
Prepaid expenses and other current assets
    
947
      
574
  
Total current assets
    
20,744
      
23,427
  
                 
Property, plant and equipment, net
    
31,003
      
35,893
  
Land use rights, net
    
8,538
      
8,930
  
                 
Other assets:
                
Distribution fees, net
    
5,879
      
6,959
  
Intangible assets, net
    
2,199
      
2,513
  
Goodwill
    
306
      
314
  
Due from related parties
    
124
      
1,614
  
Total other assets
    
8,508
      
11,400
  
Total assets
  
$
68,793
    
$
79,650
  

See accompanying notes to the unaudited condensed consolidated financial statements.
 
3
 
ZAP AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
(Unaudited)

    
September 30,
    
December 31,
  
   
2016
    
2015
  
             
LIABILITIES AND  DEFICIENCY
            
Current liabilities:
            
Short term loans
  
$
10,045
    
$
7,702
  
Accounts payable
    
24,871
      
21,486
  
Senior convertible debt
    
21,465
      
21,465
  
Accrued liabilities
    
2,994
      
4,000
  
Notes payable
    
9,970
      
14,366
  
Advances from customers
    
6,757
      
7,391
  
Taxes payable
    
1,251
      
1,638
  
Due to related parties
    
11,771
      
13,978
  
Other payables
    
2,532
      
2,256
  
Total current liabilities
    
91,656
      
94,282
  
                 
Long term liabilities:
                
Accrued liabilities and others
    
148
      
152
  
Total long term liabilities
    
148
      
152
  
Total liabilities
    
91,804
      
94,434
  
                 
Commitments and contingencies
                
                 
Deficiency
                
Common stock, no par value; 800 million shares authorized;
                
605,937,077 and 578,465,159 shares issued and outstanding
                
at September 30, 2016 and December 31, 2015, respectively
    
253,433
      
251,689
  
Accumulated other comprehensive income
    
1,319
      
1,359
  
Accumulated deficit
    
(270,994
)
    
(264,144
)
Total ZAP shareholders' deficiency
    
(16,242
)
    
(11,096
)
Non-controlling interest
    
(6,769
)
    
(3,688
)
Total deficiency
    
(23,011
)
    
(14,784
)
Total liabilities and deficiency
  
$
68,793
    
$
79,650
  

See accompanying notes to the unaudited condensed consolidated financial statements.
 
4
 
ZAP AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE LOSS
 (In thousands; except share and per share data)
(Unaudited)
 
   
For the Three Months Ended September 30
    
For the Nine Months Ended September 30
  
 
  
2016
    
2015
    
2016
    
2015
  
                         
Net sales
  
$
3,286
    
$
7,154
    
$
9,639
    
$
20,872
  
Cost of goods sold
    
(3,665
)
    
(7,348
)
    
(10,676
)
    
(21,849
)
Gross loss
    
(379
)
    
(194
)
    
(1,037
)
    
(977
)
                                 
Operating expenses:
                                
Sales and marketing
    
450
      
909
      
1,497
      
2,791
  
General and administrative
    
2,161
      
2,301
      
6,006
      
6,950
  
Research and development
    
84
      
38
      
252
      
1,721
  
Total operating expenses
    
2,695
      
3,248
      
7,755
      
11,462
  
                                 
Loss from operations
    
(3,074
)
    
(3,442
)
    
(8,792
)
    
(12,439
)
                                 
Other income (expense):
                                
Interest expense, net
    
(625
)
    
(646
)
    
(1,848
)
    
(2,081
)
Other income
    
382
      
374
      
557
      
653
  
Total other expense, net
    
(243
)
    
(272
)
    
(1,291
)
    
(1,428
)
Loss before income taxes
    
(3,317
)
    
(3,714
)
    
(10,083
)
    
(13,867
)
Income tax expense
    
-
      
-
      
-
      
-
  
Net loss
    
(3,317
)
    
(3,714
)
    
(10,083
)
    
(13,867
)
Less: loss attributable to non-controlling interest
    
1,070
      
1,055
      
3,233
      
4,669
  
Net loss attributable to ZAP’s common shareholders
  
$
(2,247
)
  
$
(2,659
)
  
$
(6,850
)
  
$
(9,198
)
                                 
Net loss
  
$
(3,317
)
  
$
(3,714
)
  
$
(10,083
)
  
$
(13,867
)
Other comprehensive income (loss)
                                
Foreign currency translation adjustments
    
27
      
(130
)
    
112
      
(1
)
Total comprehensive loss
    
(3,290
)
    
(3,844
)
    
(9,971
)
    
(13,868
)
Less: Comprehensive loss attributable to non-controlling interest
    
1,050
      
1,096
      
3,081
      
4,607
  
Comprehensive loss attributable to ZAP's common shareholders
  
$
(2,240
)
  
$
(2,748
)
  
$
(6,890
)
  
$
(9,261
)
                                 
Net loss per share attributable to common shareholders:
                                
Basic and diluted
  
$
(0.00
)
  
$
(0.01
)
  
$
(0.01
)
  
$
(0.02
)
Weighted average number of common shares outstanding:
                                
Basic and diluted
    
595,658
      
496,392
      
584,238
      
470,777
  

See accompanying notes to the unaudited condensed consolidated financial statements.
 
5
 
ZAP AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)

   
For the Nine Months Ended September 30
  
   
2016
    
2015
  
CASH FLOWS FROM OPERATING ACTIVITIES
            
Net loss
  
$
(10,083
)
  
$
(13,867
)
Adjustments to reconcile net loss to net cash used in operating activities:
                
Stock-based compensation expense
    
54
      
55
  
Depreciation and amortization
    
4,745
      
5,134
  
Amortization of distribution agreement
    
1,080
      
1,080
  
Provision for doubtful accounts
    
451
      
1,614
  
Changes in inventory reserve
    
25
      
(76
)
Gain from disposal of equipment
    
-
      
(23
)
Changes in assets and liabilities:
                
Accounts receivable
    
218
      
377
  
Notes receivable
    
-
      
15
  
Inventories
    
650
      
99
  
Prepaid expenses and other assets
    
(244
)
    
(366
)
Due from related parties
    
1,467
      
21
  
Accounts payable
    
3,953
      
48
  
Accrued liabilities
    
(1,102
)
    
615
  
Taxes payable
    
(348
)
    
417
  
Advances from customers
    
(442
)
    
348
  
Due to related parties
    
(1,985
)
    
1,530
  
Other payables
    
376
      
(235
)
Net cash used in operating activities
    
(1,185
)
    
(3,214
)
                 
CASH FLOWS FROM INVESTING ACTIVITIES
                
Acquisition of property and equipment
    
(235
)
    
(307
)
Proceeds from disposal of equipment
    
102
      
23
  
Net cash used in investing activities
    
(133
)
    
(284
)

See accompanying notes to the unaudited condensed consolidated financial statements.
 
6
 
ZAP AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
 
   
For the Nine Months Ended September 30
  
   
2016
    
2015
  
             
CASH FLOWS FROM FINANCING ACTIVITIES
            
Change in restricted cash
  
$
1,040
    
$
1,122
  
Repayment of convertible bonds
    
-
      
(100
)
Repurchase of common stock
    
-
      
(407
)
Proceeds from issuance of common stock
    
1,690
      
6,167
  
Proceeds from notes payable
    
17,203
      
14,238
  
Proceeds from short term loans
    
6,687
      
2,268
  
Proceeds of convertible bonds
    
-
      
786
  
Repayments of notes payable
    
(21,270
)
    
(14,478
)
Repayments of short term loans
    
(3,981
)
    
(6,242
)
Net cash provided by financing activities
    
1,369
      
3,354
  
Effect of exchange rate changes on cash and cash equivalents
    
(3
)
    
(4
)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
    
48
      
(148
)
CASH AND CASH EQUIVALENTS, beginning of period
    
60
      
238
  
CASH AND CASH EQUIVALENTS, end of period
  
$
108
    
$
90
  
                 
Supplemental disclosure of cash flow information:
                
Cash paid during period for interest
  
$
800
    
$
810
  
Cash paid during period for income taxes
  
$
-
    
$
-
  
                 
Non-cash transaction:
                
Issued 8,872,602 shares of common stock to Cathaya Management Co.
Ltd to settle payable
  
$
444
    
$
-
  
Issued 18,399,316 shares of common stock to CEVC to settle interest
payable
  
$
1,246
    
$
-
  
Cancellation of 1,182,558 shares of common
 stock issued to pay convertible bond
  
$
-
    
$
100
  
Issued 14,454,743 shares of common stock to pay interest payable
  
$
-
    
$
1,237
  
Issued 5,833,333 shares of common stock to pay outstanding
management fee
  
$
-
    
$
350
  

See accompanying notes to the unaudited condensed consolidated financial statements.
 
7
 
ZAP AND SUBSIDIARIES 
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
 
 NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION
 
ZAP was incorporated in California in September, 1994 (together with its subsidiaries, the “Company” or “ZAP Group”).  ZAP Group markets electric, alternative energy, and fuel efficient automobiles and commercial vehicles, motorcycles and scooters, and other forms of personal transportation. The Company’s business strategy is to develop, acquire, and commercialize electric vehicles and electric vehicle power systems which the Company believes have fundamental practical and environmental advantages over available internal combustion modes of transportation and that can be produced commercially on an economically competitive basis.
 
In pursuit of a manufacturing plant and a partner with an existing product line, a distribution and customer support network in China, and experience in vehicle manufacturing, ZAP acquired a majority of the outstanding equity in Zhejiang Jonway Automobile Co., Ltd. (“Jonway Auto”). The Company believes its 51% acquisition of Jonway Auto will enable it to access the rapidly-growing Chinese market for electric vehicles (“EV”) and to expand its EV business and distribution network around the world. The Company also believes Jonway Auto’s ISO 9001 certified manufacturing facility provides the competitive production capacity and resources to support production of ZAP Group’s new line of electric SUV, minivan, and Neighborhood EV (“NEV”).
 
Jonway Auto is a limited liability company incorporated in Sanmen County, Zhejiang Province of the People’s Republic of China (the “PRC”) on April 28, 2004 by Jonway Group Co., Ltd. (“Jonway Group”). Jonway Group is under the control of three individuals, Wang Huaiyi, Alex Wang (the son of Wang Huaiyi) and Wang Xiaoying (the daughter of Wang Huaiyi and all three individuals collectively referred to as the “Wang Family”).
 
ZAP has a wholly owned subsidiary, ZAP Hong Kong, a Hong Kong limited company. ZAP Hong Kong was established in 2011 as a wholly foreign owned enterprises (“WFOE”) and has no operation since incorporated. Jonway Auto established three wholly-owned subsidiaries, namely, Taizhou Selling Co., Ltd., focusing on vehicles marketing and distribution, Taizhou Fuxing Vehicle Sale Co., Ltd., focusing on minivan marketing and distribution in China, and Taizhou Vehicle Leasing Co., Ltd., focusing on the vehicle leasing business in Taizhou.

 
NOTE 2 – LIQUIDITY AND CAPITAL RESOURCES
 
As of September 30, 2016, the Company’s current liabilities exceeded the current assets by approximately $70.9 million and its equity deficiency was $23.0 million, which raise substantial doubt about the Company’s ability to continue as a going concern. In addition, the Company has recurring net losses. Given the Company’s expected capital expenditure in the foreseeable future, the Company has comprehensively considered its available sources of funds as follows:
 
· Financial support and credit guarantee from related parties; and
· Other available sources of financing from domestic banks and other financial institutions given its credit history.

The Company does not currently have sufficient cash or commitments for financing to sustain its operations for the next twelve months. The Company plans to substantially increase its cash flows from operations and revenue derived from its products. If the Company’s revenues do not reach the level anticipated in its plan and the Company may not be able to obtain the necessary additional capital on a timely basis, on acceptable terms, or at all, the Company may be unable to implement its current plans for expansion, repay its debt obligations or respond to competitive pressures, any of which would have a material adverse effect on its business, prospects, financial condition and results of operations. The accompanying unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. 
 
In assessing the Company’s liquidity, the Company monitors and analyzes its cash on-hand, and its operating and capital expenditure commitments.  The Company’s principal liquidity needs are to meet its working capital requirements, operating expenses and capital expenditure obligations.
 
8
 
           Jonway Auto intends to utilize its existing credit lines (see Note 7) to expand its electric vehicle business as well as other future vehicle models.  This includes on-going working capital needs, electric vehicle production equipment requirements, testing, homologation and new EV product molds. Also the Company’s principal shareholder, Jonway Group, has agreed to provide the necessary support to meet the Company’s financial obligations through September 30, 2017 in the event that the Company requires additional liquidity. In addition, China Electric Vehicle Corporation (“CEVC”) has renewed the convertible note with an extension through December 31, 2016 (see Note 8).  The Company does not intend to extend the term of this CEVC convertible note when it matures on December 31, 2016, and will most likely repay CEVC with Jonway Auto shares as per the terms and condition originally stipulated in the Convertible Note agreement.  With the conversion of the CEVC Convertible Note, the additional equity investment into Jonway Auto would reduce ZAP’s majority equity ownership in Jonway Auto. As a result, the qualification for ZAP to consolidate Jonway Auto would have to be reassessed based on ZAP’s financial control, board and management control of Jonway Auto.
 
The Company will require additional capital to expand its current operations.  In particular, the Company requires additional capital to continue development of its electric vehicle business, to continue strengthening its dealer network and after-sale service centers and expanding its market initiatives.  The Company also requires financing the investment for the continued roll-out of new products and to add qualified sales and professional staff to execute on its business plan and pursue its efforts in the research and development of advanced technology vehicles, such as the new ZAP Alias, the electric and other fuel efficient vehicles.

The Company intends to fund its short and long term liquidity needs related to operations through the incurrence of indebtedness, equity financing or a combination of both.  The Company’s ability to fund these needs will depend on its future performance, which will be subject in part to general economic, financial, regulatory and other factors beyond its control, including trends in its industry and technological developments.
 
9
 
NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES
 
 
Basis of Presentation and Consolidation
 
The accompanying unaudited condensed consolidated financial statements include the financial statements of ZAP, and its subsidiaries, and are prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) for interim financial information pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Management considers subsidiaries to be companies that are over 50% controlled. Significant intercompany transactions and balances are eliminated in consolidation; profits from intercompany sales, are also eliminated; non-controlling interests are included in equity.  The Company accounts for its 37.5% interest in the ZAP Hangzhou and its 50% interest in Shanghai Zapple using the equity method of accounting because it has significant influence but not control. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the financial statements have been included. Interim results are not necessarily indicative of results to be expected for the full year. The information included in this Form 10-Q should be read in conjunction with information included in the 2015 annual report on Form 10-K filed on April 14, 2016.
 
Use of Estimates
 
The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. The more significant estimates relate to revenue recognition, contractual allowances and uncollectible accounts, intangible assets, accrued liabilities, stock based compensation, litigation and contingencies. Estimates are based on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances, the results of which form the basis for judgments about results and the carrying values of assets and liabilities. Actual results and values may differ significantly from these estimates.
 
Revenue Recognition
 
The Company records revenues for non-Jonway Auto sales when all of the following criteria have been met:
 
-  Persuasive evidence of an arrangement exists. The Company generally relies upon sales contracts or agreements, and customer purchase orders to determine the existence of an arrangement.

- Sales price is fixed or determinable. The Company assesses whether the sales price is fixed or determinable based on the payment terms and whether the sales price is subject to refund or adjustment. 

- Delivery has occurred. The Company uses shipping terms and related documents, or written evidence of customer acceptance, when applicable, to verify delivery or performance. The Company’s customary shipping terms are FOB shipping point.

- Collectability is reasonably assured.  The Company assesses collectability based on creditworthiness of customers as determined by the Company’s credit checks and their payment histories. The Company records accounts receivable net of allowance for doubtful accounts and estimated customer returns.

 The Company records revenues for Jonway Auto sales only upon the occurrence of all of the following conditions:
 
- The Company has received a binding purchase order from the customer or distributor authorized by a representative empowered to commit the purchaser (evidence of a sale);

- The purchase price has been fixed, based on the terms of the purchase order;

- The Company has delivered the product from its factory to a common carrier acceptable to the customer; and

- The Company deems the collection of the amount invoiced probable.

The Company provides no price protection. Sales are recognized net of sale discounts, rebates and return allowances.
 
10
 
NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES - continued

Fair Value of Financial Instruments

Accounting Standards Update (“ASU”) 820, “Fair Value Measurements” and Accounting Standards Codification (“ASC”) 825, Financial Instruments, requires an entity to use observable inputs and minimize the use of unobservable inputs when measuring fair value. It establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. It prioritizes the inputs into three levels that may be used to measure fair value:

Level 1: Observable inputs such as quoted prices in active markets;

Level 2: Inputs other than quoted prices that are observable for the asset or liability in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.

Level 3: Unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions and methodologies that result in management’s best estimate of fair value.

The carrying value of current assets and liabilities approximate their fair values because of the short-term nature of these instruments. The carrying value of the senior convertible debt (see Note 8), which approximates fair value, is influenced by interest rates and the Company’s stock price, and is determined by prices for the convertible debts observed in market trading, which are Level 2 inputs.

Foreign Currency Translation
 
The Company and its wholly owned subsidiary/investments, maintain their accounting records in United States Dollars (“US$”) whereas Jonway Auto maintains its accounting records in the currency of Renminbi (“RMB”), being the primary currency of the economic environment in which their operations are conducted.

Jonway Auto’s principal country of operations is the PRC. The financial position and results of the Company’s operations are determined using RMB, the local currency, as the functional currency.  The results of operations and the statement of cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period.  Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date.  The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital contribution.  Due to the fact that cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the balance sheet.  Translation adjustments arising from the use of different exchange rates from period to period are included as a component of stockholder’s equity as “Accumulated Other Comprehensive Income.”

The value of RMB against US$ and other currencies may fluctuate and is affected by, among other things, changes in China’s political and economic conditions, any significant revaluation of RMB may materially affect the Company’s financial condition in terms of US$ reporting.  The following table outlines the currency exchange rates that were used in creating the unaudited condensed consolidated financial statements in this report:
 
 
 
September 30, 2016
September 30,
2015
December 31, 2015
 
 
  
    
Balance sheet items, except for share capital, additional
   paid in capital and retained earnings
$ 1=RMB 6.6702 
$ 1=RMB6.3638
 $1=RMB6.4917
 
 
  
    
Amounts included in the statements of operations
   and cash flows
$ 1=RMB 6.5802
$ 1=RMB6.1735
$1=RMB 6.2288
 
11
 
NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES – continued

Recent Accounting Pronouncements
 
In August 2016, the FASB issued ASU No. 2016 15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, to provide guidance on the presentation and classification of certain cash receipts and cash payments on the statement of cash flows. The guidance specifically addresses cash flow issues with the objective of reducing the diversity in practice. The guidance will be effective for the Company in fiscal year 2018, but early adoption is permitted. The Company is currently evaluating the impact of this new standard on its unaudited condensed consolidated financial statements and related disclosures.
 
In October 2016, the FASB issued ASU No. 2016 16, Income Taxes (Topic 740): Intra - Entity Transfers of Assets Other Than Inventory. The amendments require an entity to recognize income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs and remove the exception to postpone recognition until the asset has been sold to an outside party. The amendments are effective for public business entities for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual reporting periods. For all other entities, the amendments are effective for annual reporting periods beginning after December 15, 2018, and interim reporting periods within annual reporting periods beginning after December 15, 2019. Early adoption is permitted. The Company is currently evaluating the impact of this new standard on its unaudited condensed consolidated financial statements and related disclosures.
 
In October 2016, the FASB issued ASU No. 2016-17, Consolidation (Topic 810): Interest Held through Related Parties That Are under Common Control, to provide guidance on the evaluation of whether a reporting entity is the primary beneficiary of a VIE by amending how a reporting entity, that is a single decision maker of a VIE, treats indirect interests in that entity held through related parties that are under common control. The amendments are effective for public business entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact of this new standard on its unaudited condensed consolidated financial statements and related disclosures.
 
12
 
NOTE 4 – ACCOUNTS RECEIVABLE

Accounts receivable consisted of the following:

 
  
September 30,
2016
    
December 31,
2015
  
 
            
Accounts receivable – third parties
  
$
2,256
    
$
2,274
  
Accounts receivable – related parties
    
4,776
      
5,172
  
 
    
7,032
      
7,446
  
Less – Allowance for doubtful accounts
    
(1,936
)
    
(1,531
)
Total account receivable, net
  
$
5,096
    
$
5,915
  

Changes in the Company’s allowance for doubtful accounts as of September 30, 2016 and December 31, 2015 are as follows:
 
 
  
September 30,
2016
    
December 31,
2015
  
Balance, beginning of period
  
$
1,531
    
$
439
  
Write-off
    
-
      
(76
)
Current provision
    
405
      
1,168
  
Balance, end of period
  
$
1,936
    
$
1,531
  




NOTE 5 – INVENTORIES, NET
 
Inventories, net are summarized as follows:
 
 
  
September 30,
2016
    
December 31,
2015
  
 
            
Work in Process
  
$
2,025
    
$
2,237
  
Parts and supplies
    
4,020
      
3,616
  
Finished goods
    
2,117
      
3,186
  
 
    
8,162
      
9,039
  
Less - inventory reserve
    
(1,290
)
    
(1,296
)
Inventories, net
  
$
6,872
    
$
7,743
  
 
Changes in the Company’s inventory reserve as of September 30, 2016 and December 31, 2015 are as follows:
 
 
  
September 30,
2016
    
December 31,
2015
  
Balance, beginning of period
  
$
1,296
    
$
1,380
  
Current provision (recovery) for Jonway Auto
    
19
      
(132
)
Current provision (recovery) for inventory ZAP, net
    
(25
)
    
48
  
Balance, end of period
  
$
1,290
    
$
1,296
  
 
13
 
NOTE 6 - DISTRIBUTION AGREEMENTS
 
Distribution agreements are presented below:
 
 
  
September 30,
2016
    
December 31,
2015
  
 
            
Better World Products - related party
  
$
2,160
    
$
2,160
  
Jonway Products
    
14,400
      
14,400
  
 
    
16,560
      
16,560
  
Less: amortization
    
(10,681
)
    
(9,601
)
 
  
$
5,879
    
$
6,959
  

Amortization expenses related to these distribution agreements for the three and nine months ended September 30, 2016 and 2015 was $360,000 and $360,000, $1,080,000 and $1,080,000, respectively. Amortization is based over the term of the agreements. No impairment loss was recorded for the three and nine months ended September 30, 2016 and 2015. The estimated future amortization expense is as follows:

12 months ended September 30,
      
2017
  
$
1,440
  
2018
    
1,440
  
2019
    
1,440
  
2020
    
1,440
  
Thereafter
    
119
  
Total
  
$
5,879
  

 
 
 
NOTE 7 – SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES
 
Short Term Debts
 
In June 2015, the Company was approved for up to an aggregate of $6.9 million of a credit line from China Everbright Bank with 50% restricted cash deposited and credit exposure of $3.5 million. The Company renewed the agreement in June 2016 and the renewed agreement expires in June 2017.  The credit line is secured by a land use right and a building with a total carrying amount of $2.1 million. Three shareholders and the Chief Executive Officer (“CEO”) also personally guaranteed on this credit line.  As of September 30, 2016, $6.0 million was drawn down as notes payable from China Everbright Bank.  The amount of restricted cash deposited with the bank was $3.0 million. As of September 30, 2016, the unused line of credit was approximately $0.45 million.
 
 In March 2014, the Company has obtained up to an aggregate of $15.0 million of credit line with the credit exposure of $5.5 million from CITIC Sanmen Branch through Jonway Auto.  The credit line was extended for one more year and expires on November 2016. The credit line is secured by land and building owned by Jonway Auto and guaranteed by the related party – Jonway Group.  The shareholder and the CEO also personally guaranteed this credit line. As of September 30, 2016, the Company borrowed aggregated $5.5 million loans with various due dates in March 25, 2017 to April 26, 2017 from CITIC Sanmen Branch. The loans carried at annual interests of 6.0%.  The Company has also drawn down $4.0 million in the form of notes payable as of September 30, 2016.  The Company deposited $4.0 million restricted cash as collateral for these notes payable. These notes are due in March 2017.  As of September 30, 2016, the line of credit has been fully utilized.
 
14

 
NOTE 7 –SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES - continued

Short Term Debts - continued

The Company has qualified for an aggregate of $5.0 million of a credit line from ICBC. This credit line is secured by land and buildings owned by Jonway Auto and guaranteed by related parties. The credit line expires in March 2017. As of September 30, 2016, the total outstanding loan under this credit line was $4.5 million. The annual interest rates are from 4.36% to 6.66%.  The loans are due in various dates through July 22, 2017. As of September 30, 2016, the unused line of credit was approximately $0.45 million.
 
Short term loans as of September 30, 2016 and December 31, 2015 are presented below: 

 
  
  
September 30,
2016
    
December 31, 2015
  
 
 
            
Loan from CITIC bank
(a)
  
$
5,547
    
$
3,081
  
Loan from ICBC
(b)
    
4,498
      
4,621
  
 
 
                
 
  
  
$
10,045
    
$
7,702
  
.
(a) In October 2015, Jonway Auto borrowed a half year short-term loan of $3.1 million at annual interest rate of 5.9%. The loan was repaid upon maturity in April 2016.  

On March 25, 2016, Jonway Auto entered into a one year loan of $0.5 million at annual interest rate of 6.0%. The loan is due on March 25, 2017.  On April 13, 2016, Jonway Auto entered into a one year loan of $1.5 million at an annual interest rate of 6.0%. The loan is due on April 13, 2017. On April 14, 2016, Jonway Auto entered into a one year loan of $1.4 million at annual interest rate of 6.0%. The loan is due on April 14, 2017. On April 26, 2016, Jonway Auto further entered into a one year loan of $2.1 million at annual interest rate of 6.0%. The loan is due on April 26, 2017.

All loans are secured by a Maximum Amount Mortgage Contract between Jonway Auto and CITIC dated November 3, 2014, in which a land use right and a building with a total carrying amount of $5.0 million as of September 30, 2016 has been pledged as security for these loans. The shareholder and the CEO also personally guaranteed these loans.

In March 2015, the Company entered into a one year short-term loan of $0.8 million from ICBC at an annual interest of 5.4% and fully repaid the loan upon maturity in March 2016.  In June 2015, the Company entered into a one year short-term loan of $0.3 million from ICBC at an annual interest rate of 5.92% and fully repaid the loan upon maturity in June 2016. In July 2015, the Company entered into a one year short-term loan of $1.1 million from ICBC at an annual interest rate of 6.7% and fully repaid the loan upon maturity in July 2016.  In October 2015, the Company entered into a one year short-term loan of $1.3 million at an annual interest of 6.4%. In November 2015, the Company entered into a one year short-term loan of $1.1 million at an annual interest rate of 6.1%.  On June 8, 2016, the Company entered into a one year short-term loan of $0.3 million at an annual interest rate of 5.0%.  On June 22, 2016, the Company entered into a one year short-term loan of $0.7 million at an annual interest rate of 4.4%. On July 22, 2016, the Company entered into a one year short-term loan of $1.1 million at an annual interest rate of 5%.   
 
These loans were guaranteed by related parties including Jonway Group, the shareholder, Wang Huaiyi, and the shareholder and the CEO. The Company also pledged buildings and a land use right with a carrying value of $1.4 million with ICBC.
 
The weighted average interest rates were 5.8% and 6.6% for the nine months ended September 30, 2016 and 2015, respectively.
 
15
 
Bank acceptance notes
 
 As of September 30, 2016, the Company has bank acceptance notes payable in the amount of $10.0 million. The notes are guaranteed to be paid by the banks and are usually for a short-term period of nine months. The Company is required to maintain cash deposits of 50% or 100% of the notes payable with these bank, in order to ensure future credit availability. As of September 30, 2016, the restricted cash for the notes was $7.0 million. Bank acceptance notes are presented below:
 

 
    
  
September 30,
2016
    
December 31, 2015
  
 
 
            
Bank acceptance notes payable to China Everbright Bank
(a)
  
$
5,997
    
$
7,086
  
Bank acceptance notes payable to CITIC Bank
(b)
    
3,973
      
6,428
  
Bank acceptance notes payable to Shanghai Pudong Development bank
(c)
    
-
      
852
  
 
    
  
$
9,970
    
$
14,366
  

(a) Notes payable to China Everbright bank have various maturity dates in December 2016. The notes payable are guaranteed by a land use right and a building with a total carrying value of $2.1 million. The Company is also required to maintain cash deposits at 50% of the notes payable with the bank, in order to ensure future credit availability.

(b)
Notes payable to CITIC bank will be due in March 2017.  The Company is required to maintain cash deposits at 100% of the notes payable with the bank, in order to ensure future credit availability.

(c) Notes payable to Shanghai Pudong Development Bank was due in January and May 2016. The Company was required to maintain cash deposits at 100% of the notes payable with the bank. The note payable was fully repaid upon due date.


NOTE 8 - CONVERTIBLE DEBT

Convertible debts are presented below:
 
September 30,
2016
  
December 31,
2015
  
 
        
Senior convertible debt – CEVC (a)
  
$
20,679
    
$
20,679
  
Convertible debt – Mr. Luo Hua Liang (b)
    
786
      
786
  
   
$
21,465
    
$
21,465
  

(a) Senior convertible debt - CEVC

On January 12, 2011, the Company entered into a Senior Secured Convertible Note and Warrant Purchase Agreement (the “Agreement”) with China Electric Vehicle Corporation (“CEVC”), a British Virgin Island company whose sole shareholder is Cathaya Capital, L.P., and a Cayman Islands exempted limited partnership (“Cathaya”).  Priscilla Lu was the former chairwoman of the board of directors of ZAP, a managing partner of Cathaya and a director of CEVC.
 
 
Pursuant to the Agreement, (i) CEVC purchased from the Company a Senior Secured Convertible Note (the “Note”) in the principal amount of $19 million, as amended; (ii) the Company issued to CEVC a warrant (the “Warrant”) exercisable for two years for the purchase up to 20 million shares of the Company’s Common Stock at $0.50 per share, as amended;  (iii) the Company, certain investors and CEVC entered into an Amended and Restated Voting Agreement that amended and restated that certain Voting Agreement, dated as of August 6, 2009 that was previously granted to Cathaya Capital L.P.; (iv) the Company, certain investors and CEVC entered into an Amended and Restated Registration Rights Agreement that amended and restated that certain Registration Rights Agreement, dated as of August 6, 2009, that was previously granted to Cathaya Capital L.P which grants certain registration rights relating to the Note and the Warrant; and (v) the Company and CEVC entered into a Security Agreement that secures the Note with all of the Company’s assets other than those assets specifically excluded from the lien created by the Security Agreement.
 
16
 
NOTE 8 - CONVERTIBLE DEBT – continued

The note is convertible upon the option of CEVC at any time, into (a) shares of Jonway Auto capital stock owned by ZAP at a conversion rate of 0.003743% of shares of Jonway Auto capital stock owned by ZAP for each $1,000 principal amount of the Note being converted; or (b) shares of ZAP common stock at a conversion rate of 4,435 shares of common stock for each $1,000 principal amount of the Note being converted.
 
This convertible note was extended until December 31, 2016 with interest accrual at 8% per annum with original maturing date of February 12, 2012. According to Accounting Standard Codification (“ASC”) 470-10, the market interest should be imputed for the non-interest bearing loan between the related parties; therefore in the extended agreement the Convertible Note bears a market interest rate at 8%. With the new extension, the principal of $20.7 million has the same conversion terms to cash, and will also be convertible in part or in whole to shares of ZAP or Jonway Auto at maturity date or at any time with a 90 day notice. Beginning August 12, 2013 within 10 calendar days following the end of each fiscal quarter, the Company is required to pay Holder the Additional Interest accrued during such fiscal quarter by issuing the Holder or a party designated by the Holder, the number of shares of the Company’s Common Stock equal to the Additional Interest accrued during such fiscal quarter divided by the average of the Closing Prices for each trading day during such fiscal quarter ending on (and including) the last Trading Day of such fiscal quarter. The Additional Interest Rate may be amended from time to time with the written consent of the Holder and the Company. In addition, the warrants issued in connection with the CEVC note were amended for the change of the terms of conversion and for the extension of the maturity date until December 31, 2016 (See Note 11).
 
Upon expiration date of the CEVC note on December 31, 2016, it is most likely that this convertible note will be repaid by ZAP in the form of Jonway Auto shares in order to reduce the liability of ZAP. If the CEVC note is repaid by Jonway Auto shares, ZAP’s ownership of Jonway Auto would be reduced to less than majority interest, resulting in need to reconsider eligibility for consolidation.  Due to the increasing accumulation of debt from Jonway Auto, largely because of the lack of working capital to fulfill orders, Jonway Auto may seek equity funding in order to meet its operational financial needs.  If this were to happen, then the additional equity investment into Jonway Auto would also reduce ZAP’s majority equity ownership in Jonway Auto. As a result, the qualification for ZAP to consolidate Jonway Auto would have to be reassessed based on ZAP's financial control, board and management control of Jonway Auto.
 
Interest expense related to CEVC convertible note for the three and nine months ended September 30, 2016 was $416,981 and $1,242,929, respectively, and for the three and nine months ended September 30, 2015 was $416,981 and $1,237,345, respectively. Accrued interest related to CEVC convertible note was $829,429 and $833,961, as of September 30, 2016 and December 31, 2015, respectively.
 

(b) Convertible debt – Mr. Luo Hua Liang
 
On September 3, 2015, the board approved issuance of a convertible note to Mr. Luo Hua Liang (the CEO’s brother in-law) for his investment of RMB 5 million immediately deposited within one week of signing of the agreement and another investment up to RMB 5 million within one month of signing of the agreement. Both notes have one year terms at the interest rate of 12% per annum, and they have been extended one year to September 2017. The investment was transferred to Jonway Auto as the loan from the Company to Jonway Auto. The convertible note shall either be repaid in cash from Jonway Auto or be paid in ZAP shares. The convertible note’s conversion price is $0.06 per share. 
 
Interest expense related to this convertible debt for the three and nine months ended September 30, 2016 was $22,437 and $68,199, respectively, and for the three and nine months ended September 30, 2015 was $7,078 and $7,078, respectively. Accrued interest related to CEVC convertible note was $96,852 and $30,133, as of September 30, 2016 and December 31, 2015, respectively.
 
17
 
NOTE 9 – SEGMENT REPORTING
 
Operating Segments
 
In accordance with ASC 280, the Company has identified three reportable segments through the entities of Jonway Auto, ZAP (Consumer Product) and ZAP Hong Kong. The Jonway Auto segment represents sales of the gas fueled Jonway Auto A380 three and five-door sports utility vehicles, EV minivan and EV SUVs and spare parts principally through distributors in China. The ZAP Consumer Product segment represents rechargeable portable energy products, the Company’s Zapino scooter, and the Company’s ZAPPY3 personal transporters. These segments are strategic business units that offer different services. They are managed separately because each business requires different resources and strategies. The Company’s chief operating decision making group, which is comprised of the CEOs and the senior executives of each of ZAP’s strategic segments, regularly evaluate the financial information about these segments in deciding how to allocate resources and in assessing performance.
 
The performance of each segment is measured based on its profit or loss from operations before income taxes. Segment results are summarized as follows (in thousands):
 
 
 
  
Jonway
Auto
    
ZAP
    
ZAP
Hong Kong
    
Total
  
For the three months ended September 30, 2016
                        
    Net sales
  
$
3,279
    
$
7
    
$
-
    
$
3,286
  
    Gross profit (loss)
  
$
(380
)
  
$
1
    
$
-
    
$
(379
)
    Depreciation and amortization
  
$
684
    
$
1,264
    
$
-
    
$
1,948
  
    Net loss
  
$
(2,185
)
  
$
(1,132
)
  
$
-
    
$
(3,317
)
    Total assets
  
$
56,008
    
$
12,785
    
$
-
    
$
68,793
  
 
                                
For the three months ended September 30, 2015
                                
    Net sales
  
$
7,089
    
$
65
    
$
-
    
$
7,154
  
    Gross profit (loss)
  
$
(189
)
  
$
(5
)
  
$
-
    
$
(194
)
    Depreciation and amortization
  
$
1,363
    
$
653
    
$
-
    
$
2,016
  
    Net loss
  
$
(2,235
)
  
$
(1,479
)
  
$
-
    
$
(3,714
)
    Total assets
  
$
63,904
    
$
17,742
    
$
9
    
$
81,655
  
For the nine months ended September 30, 2016
                          
    Net sales
  
$
9,623
    
$
16
    
$
-
    
$
9,639
  
    Gross profit (loss)
  
$
(1,040
)
  
$
3
    
$
-
    
$
(1,037
)
    Depreciation and amortization
  
$
3,910
    
$
1,915
    
$
-
    
$
5,825
  
    Net loss
  
$
(6,598
)
  
$
(3,485
)
  
$
-
    
$
(10,083
)
    Total assets
  
$
56,008
    
$
12,785
    
$
-
    
$
68,793
  
 
                                
For the nine months ended September 30, 2015
                          
    Net sales
  
$
20,606
    
$
266
    
$
-
    
$
20,872
  
    Gross profit (loss)
  
$
(1,054
)
  
$
77
    
$
-
    
$
(977
)
    Depreciation and amortization
  
$
4,253
    
$
1,961
    
$
-
    
$
6,214
  
    Net loss
  
$
(9,529
)
  
$
(4,338
)
  
$
-
    
$
(13,867
)
    Total assets
  
$
63,904
    
$
17,742
    
$
9
    
$
81,655
  
 

18
 
NOTE 9 – SEGMENT REPORTING - continued


Customer information
 
Approximately 99.8% or $3.3 million of the Company’s revenues for the three months ended September 30, 2016 are from sales in China.  Jonway Auto distributes its products to an established network of over 70 factory level dealers in China with two customers contributing 44% and 45% of the Company’s consolidated revenue during the three months ended September 30, 2016. Approximately 99.1% or $7.1 million of the Company’s revenues for the three months ended September 30, 2015 are from sales in China. Jonway Auto distributes its products to an established network of over 63 factory level dealers in China with three customers contributing 14%, 12% and 10% of the Company’s consolidated revenue during the three months ended September 30, 2015.
 
Approximately 99.8% or $9.6 million of the Company’s revenue for the nine months ended September 30, 2016 are from sales in China. Jonway Auto distributes its products to an established network of over 70 factory level dealers in China with three customer contributing 14%, 15% and 16% of the Company’s consolidated revenue during the nine months ended September 30, 2016. Approximately 98.7% or $20.6 million of the Company’s revenue for the nine months ended September 30, 2015 are from sales in China. Jonway Auto distributed its product to an established network of over 65 factory level dealers in China with one customer contributing approximately 18% of the Company’s consolidated revenue during the nine months ended September 30, 2015.
 
Supplier information
 
For the three months ended September 30, 2016 and 2015, approximately 99.8% or $3.7 million and 99.0% or $7.3 million of the consolidated cost of goods sold were purchased in China. For the three months ended September 30, 2016, one vendor contributed 29.2% of the Company’s purchases.  For the three months ended September 30, 2015, three venders accounted for 22.6%, 11.9% and 10.1% of the total purchases. For the nine months ended September 30, 2016 and 2015, approximately 99.90% or $10.7 million and 99.1% or $21.7 million of the consolidated cost of goods sold were purchased in China. For the nine months ended September 30, 2016, two vendors accounted for 11.3% and 11.0% of the total purchases, respectively. For the nine months ended September 30, 2015, one vendor contributed to over 11.9% of the Company’s purchases.


19
 
NOTE 10 – RELATED PARTY TRANSACTIONS
 
Due from (to) related parties
 
Amounts due from related parties are principally for advances in the normal course of business for parts and suppliers used in manufacturing.
 
Amounts due from related parties are as follows (in thousands):
 
 
  
September 30,
2016
    
December 31,
2015
  
 
            
Sanmen Branch of Zhejiang UFO Automobile
Manufacturing Co., Ltd
  
$
-
    
$
998
  
Shanghai Zapple
    
123
      
-
  
Jonway Economy and Trade Co., Ltd.
    
1
      
616
  
 
  
$
124
    
$
1,614
  

In addition, accounts receivable included in accounts receivable due from related parties as follows (in thousands):

 
  
September 30,
2016
    
December 31,
2015
  
 
            
Jonway EV selling Ltd.
  
$
3,317
    
$
4,659
  
Sanmen Branch of Zhejiang UFO Automobile Manufacturing Co., Ltd
    
1,054
      
212
  
Jonway Motorcycle
    
405
      
301
  
   
$
4,776
    
$
5,172
  

Amounts due to related parties are follows (in thousands):
 
 
  
September 30,
2016
    
December 31,
2015
  
 
            
Jonway Group
  
$
11,413
    
$
12,606
  
Jonway Motor Cycle
    
64
      
64
  
Taizhou Huadu
    
-
      
846
  
Shanghai Zapple
    
-
      
35
  
Mr. Alex Wang, the CEO
    
4
      
74
  
Mr. Huaiyi Wang
    
14
      
-
  
Betterworld
    
149
      
149
  
Zhejiang Jonway Painting Co., Ltd.
    
-
      
11
  
Cathaya Operations Management Ltd.
    
127
      
193
  
 
  
$
11,771
    
$
13,978
  
 

20

NOTE 10 – RELATED PARTY TRANSACTIONS - continued

Transactions with Jonway Group
 
Jonway Group is considered as a related party as the Wang Family, one of the principal shareholders of the Company, has controlling interests in Jonway Group. Jonway Group supplies some of plastics spare parts to Jonway Auto and gave guarantees on Jonway Auto short term bank facilities from China-based banks. Jonway Auto made such purchases from Jonway Group for a total of $260,000 and $1,666,000 for the nine months ended September 30, 2016 and 2015, respectively. Jonway Auto made such purchases from Jonway Group for a total of $111,000 and $362,000 for the three months ended September 30, 2016 and 2015, respectively.
 
Jonway Auto Agreement with Zhejiang UFO
 
Based on a contract by and among the Zhejiang UFO, Jonway Group and Jonway Auto dated as of January 1, 2006, Zhejiang UFO has authorized Jonway Auto to operate its Sanmen Branch to assemble and sell UFO branded SUVs for a period of 10 years starting from January 1, 2006. The agreement has not been officially renewed, but all involved parties are still following the original terms stated in the contract.
 
According to the contract, Jonway Auto shall pay Zhejiang UFO a variable contractual fee which is calculated based on the number of SUVs that Jonway Auto assembles in the Sanmen Branch every year, at the following rates (historical exchange rate):
 
The first 3,000 vehicles
$44 per vehicle
Vehicles from 3,001 to 5,000
$30 per vehicle
Vehicles over 5,000
$22 per vehicle
 
Zhejiang UFO is considered a related party because the Wang Family, who are shareholders of Jonway Auto, has certain non-controlling equity interests in Zhejiang UFO.  For the nine months ended September 30, 2016 and 2015, $22,000 and $Nil were recorded as assembling fees, respectively.  For the three months ended September 30, 2016 and 2015, $Nil and $Nil were recorded as assembling fees, respectively.


  Other Related Party Transactions

For the nine months ended September 30, 2016, Jonway Auto purchased parts in amount of $468,000 and $260,000 from Taizhou Huadu and Jonway Group, respectively. For the nine months ended September 30, 2015, Jonway Auto purchased $Nil and $1,299,000 spare parts from Taizhou Huadu and Jonway Group, respectively.
 
21
 
NOTE 11 - SHAREHOLDERS’ EQUITY
 
Common stock
 
2016 ISSUANCES

In August 2016, the amount of $443,630 due to Cathaya Management Co Ltd, a related party, has been converted into 8,872,602 shares of common stock at price of $0.05. In addition, China Electric Vehicle Corporation (CEVC), a related party, has elected to convert the interest of $1,246,410 due on the $20.7 million convertible note to 18,399,316 shares of ZAP’s common stock at the average share price of related interest period (see Note 8). The Company also issued 200,000 shares of common stock to the CFO in August 2016.

The Company planned to issue an aggregated of 9,994,038 shares of the Company’s common stock to settle certain existing debts of $476,561 in accordance with the Board approval in July 2016, which including the amount of $412,448 due to CEVC, a related party, to be converted into 8,711,779 shares of common stock at price of $0.047, and the amount of $64,113 due to a debt holder to be converted into 1,282,259 shares of common stock at price of $0.05. These shares have not been issued as of the reporting date.

2015 ISSUANCES
 
On February 11, 2015, the cancellation of 1,182,558 shares of common stock was processed to pay back the proceeds from convertible notes, and a partial repayment representing a principal reduction of $100,000 and $8,433 of interest was paid on the Company’s outstanding convertible bond held by Yung. For the year ended December 31, 2015, the Company repurchased 4,811,633 shares of common stock at cost of $406,872 from Yung and cancelled those shares. The balance of the outstanding note issued to Korea Yung was $133,116 after the payment and cancellation of these shares. Yung was allowed to engage in open market sales of the shares through December 31, 2015. In the event the gross proceeds realized from the sale of the shares by Yung was greater than the principal and interest due on the bond as of the maturity date, Yung would have been entitled to retain all proceeds. If the proceeds from the sale of shares are less than the principal and interest due on the bond as of the maturity date, ZAP would pay the shortfall to Yung in cash within five business days of written notice from Yung.

In September 2015, the Company issued 89,194,715 shares to Mr. Alex Wang, the Chief Executive Officer of the Company for his investment of $5,351,683 in the Company (approximately $4.5 million investment was loan by the Company to its subsidiary Jonway Auto).

In September 2015, the amount of $814,863 investment from Cathaya Management Co Ltd, a related party, and $350,000 due to Cathaya Management Co Ltd have been converted into 13,581,051 and 5,833,333 shares of common stock at price of $0.06, respectively.

In September 2015, China Electric Vehicle Corporation (CEVC), a related party, has elected to convert the interest of $1,237,345 due on the $20.7 million convertible note to 14,454,743 shares of common stock at the average price of $0.086.


Stock-based Compensation
 
The Company has stock compensation plans for employees and directors. The Company recognizes the stock-based compensation expense over the requisite service period of the individual grantees, which generally equals the vesting period. All of the stock-based compensation is accounted for as an equity instrument.

In June 2015, the Company granted 200,000 restricted shares to Michael Ringstad in lieu of salary compensation and also for his acceptance for the position of Interim CFO. The stock was set at average of last 30 trading days, and the vesting period is for a period of 3 years from the date of grant. Michael Ringstad cannot sell the shares within nine months from the date of grant and the Company retains the right to buy back the shares at any time at the market price.

For the three and nine months ended September 30, 2016, $18,000 and $54,000 was recorded as stock-based compensation expense, respectively. For the three and nine months ended September 30, 2015, $18,000 and $55,000 was recorded as stock-based compensation expense, respectively.
 
22
 
NOTE 12 – LITIGATION
 
ZAP is in arrears with the settlement payment to Hogan & Lovells. The current negotiated balance due is $779,500.  Hogan & Lovells agreed to reduce the total amount owed by $453,827, as long as the Company does not default on its payment agreement. If Hogan & Lovells does seek a judgment, the total balance due immediately would be $1,233,327, recorded by the Company in its books and records. Currently ZAP is seeking additional funding, and is working with prospective investors or lenders so ZAP can resume the installment payments to Hogan & Lovells. As of September 30, 2016 and December 31, 2015, the Company accrued approximately $1.2 million for this litigation.


NOTE 13 – COMMITMENTS AND CONTINGENCIES
 
Guarantees
 
Jonway Auto guaranteed certain financial obligations of outside third parties including suppliers and customers to support the Company’s business and economic growth. Guarantees will terminate on payment and/or cancellation of the obligation once it is repaid. A payment by the Company would be triggered by failure of the guaranteed party to fulfill its obligation covered by the guarantee. Maximum potential payments under guarantees total $2.2 million at September 30, 2016 (December 31, 2015 - $2.3 million). The guarantee expires at variance dates from November, 2016 to December 2019. The Company’s performance risk under these guarantees is reviewed regularly, and has resulted in no changes to its initial valuations.
 
              Jonway Auto pledged a land use right and a building to Shanghai Pu Dong Development Bank to secure a bank loan of $1.0 million offered to a related company, Taizhou Jonway Jing Mao Trading Ltd., which is a subsidiary of Jonway Group. The period of guarantee is five years from 2014 to 2019. The net value of the land use right and the building pledged as at September 30, 2016 and December 31, 2015 were $0.5 million and $0.5 million, respectively.
 

23

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
 
  This quarterly report including the following management’s discussion and analysis, and other reports filed by the registrant from time to time with the securities and exchange commission (collectively the “filings”) contain forward-looking statements which are intended to convey our expectations or predictions regarding the occurrence of possible future events or the existence of trends and factors that may impact our future plans and operating results. These forward-looking statements are derived, in part, from various assumptions and analyses we have made in the context of our current business plan and information currently available to us and in light of our experience and perceptions of historical trends, current conditions and expected future developments and other factors we believe to be appropriate in the circumstances. you can generally identify forward-looking statements through words and phrases such as “seek”, “anticipate”, “believe”, “estimate”, “expect”, “intend”, “plan”, “budget”, “project”, “may be”, “may continue”, “may likely result”, and similar expressions. When reading any forward-looking statement you should remain mindful that all forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of our company, and are subject to risks, uncertainties, assumptions and other factors relating to our industry and results of operations, including but not limited to the following factors:
 
            · our ability to establish, maintain and strengthen our brand;
 
            · our ability to maintain effective disclosure controls and procedures;
 
            · whether the alternative energy and gas-efficient vehicle market for our electric products continues to grow and, if it does, the pace at which it may grow;
 
            · our ability to attract and retain the personnel qualified to implement our growth strategies;
 
            · our ability to obtain approval from government authorities for our products;
 
            · our ability to protect the patents on our proprietary technology;
 
            · our ability to fund our short-term and long-term financing needs;
 
            · our ability to compete against large competitors in a rapidly changing market for electric and conventional fuel  vehicles;
 
            · changes in our business plan and corporate strategies; and
 
            · Other risks and uncertainties discussed in greater detail in various sections of this report, or set forth in part I, Item 1A of our Annual Report on Form 10-K under the heading “Risk Factors”.

 Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned.
 
Each forward-looking statement should be read in context with, and with an understanding of, the various other disclosures concerning our company and our business made in our filings. You should not place undue reliance on any forward-looking statement as a prediction of actual results or developments. We are not obligated to update or revise any forward-looking statement contained in this report to reflect new events or circumstances unless and to the extent required by applicable law.
 
24
 
In this quarterly report on Form 10-Q the term “ZAP” refers to ZAP and its subsidiaries, the term “Jonway Auto” refers to Zhejiang Jonway Automobile Co. Ltd., of which ZAP owns 51% of the equity shares, “ZAP Jonway” refers to both ZAP and Jonway Auto on a consolidated basis, and “we,” “us” and “our” refer to ZAP or ZAP Jonway, as the context indicates.
 
Recent Developments
 
Effective on May 7, 2016, the Company accepted the resignations of Tian Ming and Bai Jianxiong, respectively, as directors.  Ms. Ming and Mr. Bai each resigned for personal reasons and not as a result of any disagreement with the Company on any matter relating to the Company’s operations, accounting policies or practices.

Effective on October 21, 2016, the Company accepted the resignation of Co Nguyen as a director and as member of the Company’s Audit Committee.  Mr. Nguyen resigned for personal reasons and not as a result of any disagreement with the Company on any matter relating to the Company’s operations, accounting policies or practices.

The current board members remaining on the board are Alex Wang and Wang Huaiyi.

The principal activities of Jonway Auto until recently were the production and sales of gasoline models of the SUVs and minivans in China using the consigned UFO license from an affiliate of Jonway Group.  Over the past several years, Jonway Auto continued the production and sales of its gasoline model SUV and minivan, while developing and ramping production of its EV product line. Jonway Auto received type approval of its EV SUV and EV certification of its manufacturing facility from the Chinese government.  It also developed two different full electric EV models for its minivan, one with lithium batteries, which has longer range and more power, and the other with lead acid batteries, intended for lower speed and shorter range.  Jonway Auto began production on a new NEV, the “Urbee”, in 2014 and 2015.  The primary market for the Urbee is the growing aging and young adult population in China that generally do not hold a driver’s license.
  
ZAP and Jonway Auto are focused on the EV fleet markets in China. However, the market for EV fleet is challenged by the lack of working capital for the manufacturers to support lithium batteries.  The recent delay in subsidy payments by the central government for EV lithium batteries has created uncertainty in the EV market overall in China.  Without the fast turnaround on the subsidies for lithium batteries to support the working capital, the growth of electric vehicles for delivery minivan will slow down. Thus the revenue and sales of Jonway Auto will drop substantially.
 
Jonway Auto’s EV minivan is well-positioned for government city utility and maintenance transportation and service. The minivan was designed with removable rear seats so that it may also serve as a delivery van for use in the projected rapid growth market of EVs used for the transport of goods and packages in China. This EV minivan comes in both lithium battery configuration which is eligible for government subsidies as well as lead acid version which is much cheaper but is not eligible for subsidy.
 
ZAP and Jonway Auto’s new EV product lines now include the A380 SUV EV, minivan EV, and the Urbee. Both the EV SUV and EV minivan products leverage the production moldings and the manufacturing engineering infrastructure and facilities currently in place for the gasoline models of these vehicles. The new Urbee started its first production delivery in 2014.  The first production deliveries of the EV SUV and Minivans occurred in 2015.
 
ZAP and Jonway Auto are seeking funding and partnerships to manage the sales and production demands of the EV fleet market in China.  Ultimately, the objective is to be able to build its own financial strength in order to sell and produce the whole EV minivan so that direct sales to major customers, partners or dealers can be achieved to further improve gross margins.  

 

25

 
Our strategy in the longer term is to serve the growing fleet EV market with the EV minivan and EV SUV, with emphasis initially on the EV minivan for delivery market. While many electric vehicle companies are focused on passenger cars and sedans for mainstream consumers, ZAP and Jonway Auto believe government and corporate fleets can more quickly and more successfully deploy electric vehicles because they are more likely to have adequate charging infrastructure, service and support and the vehicles may travel along predictable routes and have a central point of operation. Fleet markets or delivery vehicles are more sensitive to the economics of fuel cost and when electric vehicles can be offered at comparable prices to gasoline vehicles, given the support of subsidies, the proposition to use EVs can be compelling for these markets.
 
The high cost of lithium battery EV power train has created working capital challenges for Jonway Auto. This represents more than 60 percent of the cost of the minivan EVs that are being produced.   Therefore without adequate working capital that is able to sustain a long payback period of over 18 months for reimbursements from the government for subsidies, the EV minivan market will be stalled for the time being.

With the demand for high working capital, outstanding liability that Jonway Auto has accrued and the lack of bank financing because of Chinese bank credit crunch, ZAP and Jonway Auto are looking at several options to address the financial needs and outstanding liabilities.  Jonway Auto may in the future be looking for equity financing in China which may reduce ZAP’s majority ownership of Jonway Auto.  Therefore, ZAP is considering reorganizing the company to reduce the financial burdens of the bank loans and supplier payables that were carried over from the gasoline vehicle business under Jonway Auto and separating this from the business associated with the sales and marketing of EVs produced by Jonway and potentially with other partner companies’ electric vehicles, such as the recent agreement signed with Dong Feng Automobile for the EV minivans. Currently the sales and marketing organization of Jonway Auto is under a separate subsidiary of Jonway Auto, and this may be retained by ZAP while reorganizing the manufacturing production arm of Jonway Auto. The repayment of the CEVC convertible note would also reduce the outstanding liability of ZAP, while maintaining control of the sales and marketing of Jonway Auto’s business with the sales subsidiary.

Results of Operations
 
The following table sets forth, as a percentage of net sales, certain items included in ZAP’s condensed consolidated statements of operations (see Unaudited Condensed Consolidated Financial Statements and Notes) for the periods indicated:
 
 
  
Three Months
  
Nine Months
  
 
  
Ended September 30,
  
Ended September 30,
  
 
  
2016
  
2015
  
2016
  
2015
  
Statements of Operations Data:
              
Net sales
    
100.0
%
    
100.0
%
    
100.0
%
    
100.0
%
Cost of sales
    
-111.5
%
    
-102.7
%
    
-110.8
%
    
-104.7
%
Operating expenses
    
-82.0
%
    
-45.4
%
    
-80.5
%
    
-54.9
%
Loss from operations
    
-93.5
%
    
-48.1
%
    
-91.2
%
    
-59.6
%
Net loss attributable to ZAP
    
-68.4
%
    
-37.2
%
    
-71.1
%
    
-44.1
%
 
 
These results of operations that have been derived from our unaudited condensed consolidated financial statements, which were prepared in accordance with accounting principles generally accepted in the United States of America and that include the results of operations of Jonway Auto since the date of ZAP’s acquisition of 51% of the equity shares of Jonway Auto on January 21, 2011.


26

Three Months Ended September 30, 2016 Compared to the Three Months Ended September 30, 2015
 
Net sales for the three months ended September 30, 2016 were $3.3 million as compared to $7.2 million for the three months ended September 30, 2015.  The decrease of sales was mainly due to the intense competitions in the auto market.
 
Jonway Auto’s revenue for the three months ended September 30, 2016 decreased by $3.81 million from $7.09 million for the quarter ended September 30, 2015 compared to $3.28 million for the quarter ended September 30, 2016.

The sales volume decreased because of the decline in sales for SUV and Urbee.  The sales of SUV decreased by $2.9 million from $2.9 million for the three months ended September 30, 2015 to $Nil for the three months ended September 30, 2016.   The sales of Urbee decreased by $2.5 million from $2.5 million for the three months ended September 30, 2015 to $Nil for the three months ended September 30, 2016.  However, the sales for EV minivans increased significantly, from $1.8 million for the three months ended September 30, 2015 to $3.1 million for the three months ended September 30, 2016.

The increased sales of EV minivans provided strong confidence to the Company to continue focus on the EV fleet markets in China. With the continued and more effective incentives made by the China government for both manufacturers and consumers, as well as the increased awareness of improving air quality, the Company believes that it EV SUV and EV minivan products have substantial market opportunities in China, and the sales of these products are expected to continue grow rapidly in the following years.


Gross loss increased by $185,000 from a gross loss of $194,000 for the three months ended September 30, 2015 to a gross loss of $379,000 for the three months ended September 30, 2016.  Our margins decreased from (2.71)% to (11.53)%.  The decrease of the gross loss was primarily due to the decrease in sales and increase in cost per unit.

Jonway Auto’s gross loss increased by $191,000 from a gross loss $189,000 for the three months ended September 30, 2015 to a gross loss of $380,000 for the three months ended September 30, 2016. The sales volume for both SUV and Urbee dropped significantly in three months ended September 30, 2016 in comparing with the same period last year.
 
Sales and marketing expenses decreased $0.4 million from $0.9 million for the three months ended September 30, 2015, to $0.5 million for the three months ended September 30, 2016.  The decrease was mainly due to the less marketing activities during the three months ended September 30, 2016.  The percentage of sales and marketing expense to net sales increased from 12.7% for the three months ended September 30, 2015 to 13.7% for the three months ended September 30, 2016 due to the decrease in net sales.
 
General and administrative expenses decreased by $0.1 million from $2.3 million for the quarter ended September 30, 2015 to $2.2 million for the quarter ended September 30, 2016. The General and administration expenses for three months ended September 30, 2015 were consistent with the same period last year.

Research and development expenses increased by $46,000 from $38,000 for the three months ended September 30, 2015 to $84,000 for the three months ended September 30, 2016.  The increase was mainly due to more research and development activities during the three months ended September 30, 2016.

Interest expense, net decreased by $21,000 from $646,000 for the three months ended September 30, 2015 to $625,000 for the three months ended September 30, 2015.   The decrease was due to the lower borrowing rate.
 
Other income increased by $8,000 from $374,000 for the three months ended September 30, 2015 to $382,000 for the three months ended September 30, 2016.  Other income remained consistent with the same period in prior year.
 
Net loss for the three months ended September 30, 2016 was $3.3 million compared to $3.7 million loss for the three months ended September 30, 2015. The change was the result of the combination of the changes as discussed above.
 
27
 
Nine Months Ended September 30, 2016 Compared to Nine Months Ended September 30, 2015
 
Net sales decreased by $11.3 million to $9.6 million for the nine months ended September 30, 2016 from $20.9 million in September 30, 2015.  The decrease of sales was mainly due to the intense competitions in the auto market.
 
Jonway Auto’s revenue for the nine months ended September 30, 2016 decreased by $11 million from $20.6 million for the nine months ended September 30, 2015 to $9.6 million for the nine months ended September 30, 2015.

The sales volume decreased because of the decline in sales for SUV and Urbee.  The sales of SUV decreased by $8.5 million from $10 million for the nine months ended September 30, 2015 to $1.5 million for the nine months ended September 30, 2016.  The sales of Urbee decreased by $7.41 million from $7.5 million for the nine months ended September 30, 2015 to $0.09 million for the nine months ended September 30, 2016.  However, the sales for EV minivans increased significantly, from $2 million for the nine months ended September 30, 2015 to $7.5 million for the nine months ended September 30, 2016.  

The increased sales of EV minivans provided strong confidence to the Company to continue focus on the EV fleet markets in China. With the continued and more effective incentives made by the China government for both manufacturers and consumers, as well as the increased awareness of improving air quality, the Company believes that it EV SUV and EV minivan products have substantial market opportunities in China, and the sales of these products are expected to continue grow rapidly in the following years.

Gross loss increased by $0.06 million from a gross loss of $0.98 million for the nine months ended September 30, 2015 to a gross loss of $1.04 million for the nine months ended September 30, 2016.  The increase of the gross loss was primarily due to the decrease in sales and increase in cost per unit.

Jonway Auto’s gross loss decreased by $0.01 million from a gross loss $1.05 million for the first nine months of 2015 to a gross loss of $1.04 million for the nine months ended September 30, 2016. The decrease in gross loss in the nine months ended September 30, 2016 was principally related to the higher profits on the sales of EV minivans.
 
Sales and marketing expenses in the first nine months of 2016 decreased by $1.3 million from $2.8 million in 2015 to $1.5 million in 2016.  The decrease was mainly due to the less marketing activities during the nine months ended September 30, 2016. As a percentage of sales, the expense increased from 13.37% for the nine months ended September 30, 2015 to 15.53% for the nine months ended September 30, 2016.
 
General and administrative expenses decreased by approximately $0.9 million, from $6.9 million for the nine months ended September 30, 2015 to $6.0 million for the nine months ended September 30, 2016. This was primarily due the less spending on general and administrative activities for expense saving purpose.
 
Research and development expenses decreased by $1.5 million from $1.7 million for the nine months ended September 30, 2015 to $0.2 million for the nine months ended September 30, 2016.  The decrease was mainly due to the less research and development activities during the nine months ended September 30, 2016
 
Interest expense, net decreased by $0.2 million from an interest expense of $2.1 million for the first nine months of 2015 to interest expense of $1.9 million in the nine months ended September 30, 2016. The decrease was due to the lower borrowing rate.

Other income decreased $0.1 million from $0.7 million for the nine months ended September 30, 2015 to $0.6 million for the nine months ended September 30, 2016. Other income remained consistent with the same period in prior year.
 
Net loss for the nine months ended September 30, 2016 was $10.1 million compared to $13.9 million loss for the nine months ended September 30, 2015. The change was the result of the combination of the changes as discussed above.
 

28
 
Critical Accounting Policies and Use of Estimates
 
Estimates
 
The preparation of financial statements in conformity with United States (“U.S.”) generally accepted accounting principles (“GAAP”) requires the Company to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. The more significant estimates relate to revenue recognition, contractual allowances and uncollectible accounts, intangible assets, accrued liabilities, stock based compensation, litigation and contingencies. Estimates are based on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances, the results of which form the basis for judgments about results and the carrying values of assets and liabilities. Actual results and values may differ significantly from these estimates.
 
 
Revenue Recognition
 
The Company records revenues for non-Jonway Auto sales when all of the following criteria have been met:
 
-       Persuasive evidence of an arrangement exists. The Company generally relies upon sales contracts or agreements, and customer purchase orders to determine the existence of an arrangement.

-       Sales price is fixed or determinable. The Company assesses whether the sales price is fixed or determinable based on the payment terms and whether the sales price is subject to refund or adjustment. 

-       Delivery has occurred. The Company uses shipping terms and related documents, or written evidence of customer acceptance, when applicable, to verify delivery or performance. The Company’s customary shipping terms are FOB shipping point.

-       Collectability is reasonably assured.  The Company assesses collectability based on creditworthiness of customers as determined by the Company’s credit checks and their payment histories. The Company records accounts receivable net of allowance for doubtful accounts and estimated customer returns.

The Company records revenues for Jonway Auto sales only upon the occurrence of all of the following conditions:
 
-       The Company has received a binding purchase order from the customer or distributor authorized by a representative empowered to commit the purchaser (evidence of a sale);

-       The purchase price has been fixed, based on the terms of the purchase order;

-       The Company has delivered the product from its factory to a common carrier acceptable to the customer; and

-       The Company deems the collection of the amount invoiced probable.

- The Company provides no price protection. Sales are recognized net of sale discounts, rebates and return allowances.
 

29

Recent Accounting Pronouncements

In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, to provide guidance on the presentation and classification of certain cash receipts and cash payments on the statement of cash flows. The guidance specifically addresses cash flow issues with the objective of reducing the diversity in practice. The guidance will be effective for the Company in fiscal year 2018, but early adoption is permitted. The Company is currently evaluating the impact of this new standard on its unaudited condensed consolidated financial statements and related disclosures.
 
In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra - Entity Transfers of Assets Other Than Inventory. The amendments require an entity to recognize income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs and remove the exception to postpone recognition until the asset has been sold to an outside party. The amendments are effective for public business entities for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual reporting periods. For all other entities, the amendments are effective for annual reporting periods beginning after December 15, 2018, and interim reporting periods within annual reporting periods beginning after December 15, 2019. Early adoption is permitted. The Company is currently evaluating the impact of this new standard on its unaudited condensed consolidated financial statements and related disclosures.
 
In October 2016, the FASB issued ASU No. 2016-17, Consolidation (Topic 810): Interest Held through Related Parties That Are under Common Control, to provide guidance on the evaluation of whether a reporting entity is the primary beneficiary of a VIE by amending how a reporting entity, that is a single decision maker of a VIE, treats indirect interests in that entity held through related parties that are under common control. The amendments are effective for public business entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact of this new standard on its unaudited condensed consolidated financial statements and related disclosures.
 

30
 
Liquidity and Capital Resources
 
As of September 30, 2016, our current liabilities exceeded the current assets by approximately $70.9 million and our equity deficiency was $23.0 million, which raise substantial doubt about our ability to continue as a going concern. In addition, we have recurring net losses. Given our expected capital expenditure in the foreseeable future, we have comprehensively considered our available sources of funds as follows:
 
· Financial support and credit guarantee from related parties; and
· Other available sources of financing from domestic banks and other financial institutions given our credit history.

The Company does not currently have sufficient cash or commitments for financing to sustain its operations for the next twelve months. The Company plans to substantially increase our cash flows from operations and revenue derived from our products. If the Company’s revenues do not reach the level anticipated in our plan and the Company may not be able to obtain the necessary additional capital on a timely basis, on acceptable terms, or at all, the Company may be unable to implement its current plans for expansion, repay our debt obligations or respond to competitive pressures, any of which would have a material adverse effect on its business, prospects, financial condition and results of operations. The accompanying unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. 
 
In assessing our liquidity, we monitor and analyze our cash on-hand, and our operating and capital expenditure commitments.  Our principal liquidity needs are to meet our working capital requirements, operating expenses and capital expenditure obligations.
 
In June 2015, the Company was approved for up to an aggregate of $6.9 million of a credit line from China Everbright Bank with 50% restricted cash deposited and credit exposure of $3.5 million. The Company renewed the agreement in June 2016 and the renewed agreement expires in June 2017.  The credit line is secured by a land use right and a building with a total carrying amount of $2.1 million. Three shareholders and the Chief Executive Officer (“CEO”) also personally guaranteed on this credit line.  As of September 30, 2016, $6.0 million was drawn down as notes payable from China Everbright Bank.  The amount of restricted cash deposited with the bank was $3.0 million. As of September 30, 2016, the unused line of credit was approximately $0.45 million.
 
 In March 2014, the Company has obtained up to an aggregate of $15.0 million of credit line with the credit exposure of $5.5 million from CITIC Sanmen Branch through Jonway Auto.  The credit line was extended for one more year and expires in November 2016. The credit line is secured by land and building owned by Jonway Auto and guaranteed by the related party – Jonway Group.  The shareholder and the CEO also personally guaranteed this credit line. As of September 30, 2016, the Company borrowed aggregated $5.5 million loans with various due dates in March 25, 2017 to April 26, 2017 from CITIC Sanmen Branch. The loans carried at annual interests of 6.0%.  The Company has also drawn down $4.0 million in the form of notes payable as of September 30, 2016.  The Company deposited $4.0 million restricted cash as collateral for these notes payable. These notes are due from in March 2017.  As of September 30, 2016, the line of credit has been fully utilized.

 
The Company has qualified for an aggregate of $5.0 million of a credit line from ICBC. This credit line is secured by land and buildings owned by Jonway Auto and guaranteed by related parties. The credit line expires in March 2017. As of September 30, 2016, the total outstanding loan under this credit line was $4.5 million. The annual interest rates are from 4.36% to 6.66%.  The loans are due in various dates through July 22, 2017. As of September 30, 2016, the unused line of credit was approximately $0.45 million.
 
Jonway Auto intends to utilize the above credit lines to expand its electric vehicle business as well as other future vehicle models.  This includes on-going working capital needs, electric vehicle production equipment requirements, testing, homologation and new EV product molds. Also the Company’s principal shareholder, Jonway Group, has agreed to provide the necessary support to meet the Company’s financial obligations through September 30, 2017 in the event that the Company requires additional liquidity. In addition, China Electric Vehicle Corporation (“CEVC”) has renewed the convertible note with an extension through December 31, 2016.  The Company does not intend to extend the term of this CEVC convertible note when it matures on December 31, 2016, and will most likely repay CEVC with Jonway Auto shares as per the terms and condition originally stipulated in the Convertible Note agreement.  With the conversion of the CEVC Convertible Note, the additional equity investment into Jonway Auto would reduce ZAP's majority equity ownership in Jonway Auto. As a result, the qualification for ZAP to consolidate Jonway Auto would have to be reassessed based on ZAP's financial control, board and management control of Jonway Auto.

 

31

The Company will require additional capital to expand its current operations.  In particular, the Company requires additional capital to continue development of its electric vehicle business, to continue strengthening its dealer network and after-sale service centers and expanding its market initiatives.  The Company also requires financing the investment for the continued roll-out of new products and to add qualified sales and professional staff to execute on its business plan and pursue its efforts in the research and development of advanced technology vehicles, such as the new ZAP Alias, the electric and other fuel efficient vehicles.

The Company intends to fund its long term liquidity needs related to operations through the incurrence of indebtedness, equity financing or a combination of both.  The Company’s ability to fund these needs will depend on its future performance, which will be subject in part to general economic, financial, regulatory and other factors beyond its control, including trends in its industry and technological developments.  


32

Off-Balance Sheet Arrangements
 
None.

Item 3.  Quantitative and Qualitative Disclosures about Market Risk
 
As a smaller reporting, we are not required to provide disclosure pursuant to this Item 3.
 
Item 4.  Controls and Procedures

As discussed in Item 9A of our Annual Report on Form 10-K for the year ended December 31, 2015, we identified a lack of sufficient control in the area of technical competency in review and approval of financial reporting processes. This control weakness allowed for reconciliations, reports and other documents to be insufficiently reviewed prior to being approved by management and audit adjustments to be identified by our auditors as part of their year-end audit work. This material weakness resulted in errors in the recording of non-routine and complex accounting transactions in the preparation of our annual consolidated financial statements and disclosures. The Company is considering utilizing outside accounting experts to assist us in accounting for future complex transactions.
 
Disclosure Controls and Procedures
 
Under the supervision and with the participation of our management, including our Co- Chief Executive Officers and our Chief Financial Officer, we conducted an evaluation of our disclosure controls and procedures, as such term is defined under Securities and Exchange Act of 1934 Rules 13a-15(f). Based on this evaluation, our Co-Chief Executive Officers and our Chief Financial Officer concluded that the Company’s disclosure controls and procedures were ineffective as of the end of the period covered by this report.
 
Changes in internal control over financial reporting

No significant changes were made in our internal control over financial reporting during this quarter that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

PART II – OTHER INFORMATION

Item 1.  Legal Proceedings
 
ZAP is in arrears with the settlement payment to Hogan & Lovells. The current negotiated balance due is $779,500.  Hogan & Lovells agreed to reduce the total amount owed by $453,827, as long as we did not default on our payment agreement. If Hogan & Lovells does seek a judgment, the total balance due immediately would be $1,233,327, recorded by the Company in its books and records. Currently ZAP is seeking additional funding, and is working with prospective investors or lenders so ZAP can resume the installment payments to Hogan & Lovells.  As of September 30, 2016 and December 31, 2015, the Company accrued approximately $1.2 million for this litigation.
 
Item 1A. Risk Factors

There have been no material changes to the Company’s risk factors which are included and described in the annual report on Form 10-K for the fiscal year ended December 31, 2015.
 

33
 
Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds

Effective   May 17, 2016, the board of directors authorized the issuance of   the equity securities:

1,282,259 shares of common stock were authorized for issuance at $0.05 per share to Victor Huang for outstanding          unpaid compensation in the amount of $64,112.95.

Effective June 23, 2016, the board of directors authorized the issuance of the following equity securities:

8,711,779 shares of common stock were authorized for issuance to China Electric Vehicle Corporation in satisfaction of unpaid accrued interest owing on the Company’s Senior Secured Convertible Promissory Note.

As of September 30, 2016, the foregoing securities have not been issued to their respective recipients.

Each of the foregoing issuances were deemed exempt from the registration requirements of the Securities Act of 1933, as amended,(“1933 Act”)  pursuant to  Section 4(a)(2) of the 1933 Act for transactions not involving a public offering.

Item 3.  Defaults upon Senior Securities

None

Item 4.  Mine safety disclosure

Not Applicable
 
Item 5.  Other Information

None

Item 6.  Exhibits

(b) Exhibits. 
 
Exhibit Number
 
Description
31.1
 
Certification of Principal Executive Officer pursuant to Rule 13a-14/15d-14 of the Exchange Act, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
 
 
 
31.2
 
Certification of Principal Financial Officer pursuant to 13a-14/15d-14 of the Exchange Act as  Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
 
 
 
32
 
Certification of Principal Executive Officer and Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
 
 
 
101.INS
 
XBRL Instance Document
 
 
 
101.SCH
 
XBRL Taxonomy Extension Schema Document
 
 
 
101.CAL
 
XBRL Taxonomy Extension Calculation Linkbase Document
 
 
 
101.DEF
 
XBRL Taxonomy Extension Definition Linkbase Document
 
 
 
101.LAB
 
XBRL Taxonomy Extension Label Linkbase Document
 
 
 
101.PRE
 
XBRL Taxonomy Extension Presentation Linkbase Document
 
In accordance with SEC Release 33-8238, Exhibit 32.1 is being furnished and not filed.
 
Furnished herewith, XBLR (Extensive Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections. 
 

34

SIGNATURES
 
In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
Dated: November 14, 2016
 
By: /s/ Alex Wang
 
 
 
Name: Alex Wang
 
 
 
 
 
 
 
Title: Chief Executive Officer
 
 
 
 
 
 
 
(Principal Executive Officer).
 
 
 

  
 
 
Dated: November 14, 2016
 
By: /s/ Michael Ringstad
 
 
 
Name: Michael Ringstad
 
 
 
 
 
 
 
Title: Interim Chief Financial Officer
 
 
 
 
 
 
 
(Interim Principal Financial Officer)
 
 

35
 
 EX-31.1 2 ex31_1.htm EXHIBIT 31.1
Exhibit 31.1   Principal Executive Officer - Section 302 Certification

Certification of
Principal Executive Officer
of ZAP
Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, Alex Wang,, certify that:

1.   I have reviewed this   Quarterly Report on Form 10-Q of  ZAP;

2.  Based on my knowledge, this  report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this  report;

3.  Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant  as of, and for, the periods presented in this l report;

4.  The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the  registrant and we have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision,  to ensure that material information relating to the  registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this annual report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this  report based on such evaluation; and

d) Disclosed in this annual report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth quarter in the case of an annual report) that has materially affected, or is likely to materially affect, the registrant’s internal control over financial reporting; and

5.  The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of small business issuer’s board of directors (or persons performing the equivalent function):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report  financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated: November 14, 2016
By:/s/ Alex Wang
  
 
Alex Wang
  
 
Chief Executive Officer
  

 

 EX-31.2 3 ex31_2.htm EXHIBIT 31.2
Exhibit 31.2   Principal Financial Officer - Section 302 Certification

Certification of
Principal Financial Officer
of ZAP
Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, Michael Ringstad, certify that:

1.   I have reviewed this Quarterly Report on Form 10-Q of   ZAP;

2.  Based on my knowledge, this  report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this  report;

3.  Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant  as of, and for, the periods presented in this l report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the  registrant and we have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision,  to ensure that material information relating to the  registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this annual report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this  report based on such evaluation; and

d) Disclosed in this annual report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth quarter in the case of an annual report) that has materially affected, or is likely to materially affect, the registrant’s internal control over financial reporting; and

5.  The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of small business issuer’s board of directors (or persons performing the equivalent function):
 
a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report  financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated:  November 14, 2016
By:/s/ Michael Ringstad
  
 
    Michael Ringstad
  
 
Interim Chief Financial Officer
  



EX-32 4 ex32.htm EXHIBIT 32
Exhibit 32


CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of  ZAP (the “Company”) on Form 10-Q for the quarterly period ended September 30, 2016, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned officers of the Company certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to such officer’s knowledge:
 
(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
 
(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company as of the dates and for the periods expressed in the Report.
 
Dated:  November 14, 2016
By:/s/ Alex Wang
  
 
Alex Wang
  
 
(Principle Executive Officer)
  
     
Dated:  November  14, 2016
By:/s/ Michael Ringstad
  
 
Michael Ringstad
  
 
(Principle Financial Officer
  
 
 
 
 EX-101.INS 5 zaap-20160930.xml XBRL INSTANCE DOCUMENT 0001024628 2015-01-01 2015-09-30 0001024628 2016-01-01 2016-09-30 0001024628 2015-12-31 0001024628 2016-09-30 0001024628 zaap:ChinaEverbrightBankMember 2016-09-30 0001024628 zaap:CiticBankMember 2014-03-31 0001024628 zaap:CiticBankMember 2016-09-30 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2016-09-30 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember us-gaap:MinimumMember 2016-09-30 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember us-gaap:MaximumMember 2016-09-30 0001024628 zaap:ZapHangzhouMember 2016-09-30 0001024628 zaap:BetterWorldMember 2015-12-31 0001024628 zaap:GoldenstoneWorldwideMember 2016-09-30 0001024628 zaap:DistributionAgreementsMember 2016-09-30 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2014-03-31 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2016-09-30 0001024628 zaap:CiticBankMember 2016-03-24 2016-03-25 0001024628 zaap:CiticBankMember 2016-03-25 0001024628 2014-12-31 0001024628 2015-01-01 2015-12-31 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2015-06-01 2015-06-30 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2015-06-30 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2015-07-31 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2015-10-01 2015-10-31 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2015-10-31 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2015-11-01 2015-11-30 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2015-11-30 0001024628 us-gaap:NotesPayableToBanksMember us-gaap:MinimumMember 2016-01-01 2016-09-30 0001024628 us-gaap:NotesPayableToBanksMember zaap:CiticBankMember 2015-12-31 0001024628 us-gaap:NotesPayableToBanksMember 2016-09-30 0001024628 zaap:ChinaEverbrightBankMember 2016-01-01 2016-09-30 0001024628 zaap:ShanghaiPudongDevelopmentBankMember 2016-01-01 2016-09-30 0001024628 zaap:CiticBankMember 2016-01-01 2016-09-30 0001024628 us-gaap:SubsidiariesMember 2015-12-31 0001024628 zaap:ShanghaiPudongDevelopmentBankMember zaap:TaizhouJonwayJingMaoTradingLtdMember 2016-09-30 0001024628 zaap:ShanghaiPudongDevelopmentBankMember zaap:TaizhouJonwayJingMaoTradingLtdMember 2015-12-31 0001024628 zaap:KoreaYungMember us-gaap:ConvertibleDebtMember 2015-02-10 2015-02-11 0001024628 zaap:KoreaYungMember 2015-01-01 2015-12-31 0001024628 us-gaap:ChiefExecutiveOfficerMember 2015-09-01 2015-09-30 0001024628 zaap:CathayaManagementLtdMember 2015-09-01 2015-09-30 0001024628 zaap:CathayaOperationsMember 2015-09-01 2015-09-30 0001024628 zaap:ChinaElectricVehicleCorporationMember 2015-09-01 2015-09-30 0001024628 zaap:BetterWorldMember 2015-12-31 0001024628 zaap:ZhejiangJonwayPaintingCoLtdMember 2015-12-31 0001024628 zaap:SanmenBranchOfZhejiangUfoAutomobileMember 2016-09-30 0001024628 zaap:SanmenBranchOfZhejiangUfoAutomobileMember 2015-12-31 0001024628 zaap:JonwayGroupMember 2016-09-30 0001024628 zaap:JonwayGroupMember 2015-12-31 0001024628 zaap:JonwayMotorCycleMember 2015-12-31 0001024628 zaap:ShanghaiZappleMember 2015-12-31 0001024628 zaap:MrAlexWangMember 2015-12-31 0001024628 zaap:SanmenBranchOfZhejiangUfoAutomobileMember zaap:FirstThreeThousandVehiclesMember us-gaap:MaximumMember 2016-01-01 2016-09-30 0001024628 zaap:SanmenBranchOfZhejiangUfoAutomobileMember zaap:FirstThreeThousandVehiclesMember 2016-01-01 2016-09-30 0001024628 zaap:SanmenBranchOfZhejiangUfoAutomobileMember zaap:VehiclesFromThreeThousandOneToFiveThousandMember 2016-01-01 2016-09-30 0001024628 zaap:SanmenBranchOfZhejiangUfoAutomobileMember zaap:VehiclesOverFiveThousandMember 2016-01-01 2016-09-30 0001024628 zaap:SparePartsMember zaap:TaizhouHuaduMember 2016-01-01 2016-09-30 0001024628 zaap:ZapCompanyMember 2016-01-01 2016-09-30 0001024628 zaap:ZapHongKongMember 2016-01-01 2016-09-30 0001024628 zaap:JonwayAutoMember 2016-01-01 2016-09-30 0001024628 zaap:ZapHongKongMember 2016-09-30 0001024628 zaap:ZapHongKongMember 2015-01-01 2015-09-30 0001024628 us-gaap:GeographicConcentrationRiskMember us-gaap:SalesRevenueNetMember 2016-07-01 2016-09-30 0001024628 us-gaap:GeographicConcentrationRiskMember us-gaap:SalesRevenueNetMember 2015-07-01 2015-09-30 0001024628 us-gaap:ConvertibleNotesPayableMember us-gaap:MaximumMember zaap:LuoHuaLiangMember 2015-09-03 0001024628 zaap:LuoHuaLiangMember us-gaap:ConvertibleNotesPayableMember 2015-09-03 0001024628 us-gaap:ConvertibleNotesPayableMember us-gaap:ConvertibleDebtMember 2011-01-12 0001024628 us-gaap:ConvertibleNotesPayableMember us-gaap:ConvertibleDebtMember 2011-01-11 2011-01-12 0001024628 us-gaap:ConvertibleDebtMember 2016-01-01 2016-09-30 0001024628 us-gaap:ConvertibleDebtMember 2016-09-30 0001024628 zaap:CathayaOperationsMember 2015-09-30 0001024628 zaap:MrHuaiyiWangMember 2015-12-31 0001024628 zaap:ChinaEverbrightBankMember 2015-06-30 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2015-03-31 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2015-07-01 2015-07-31 0001024628 us-gaap:NotesPayableToBanksMember zaap:ChinaEverbrightBankMember 2016-09-30 0001024628 us-gaap:NotesPayableToBanksMember zaap:ChinaEverbrightBankMember 2015-12-31 0001024628 us-gaap:NotesPayableToBanksMember zaap:ShanghaiPudongDevelopmentBankMember 2016-09-30 0001024628 us-gaap:SubsidiariesMember 2016-09-30 0001024628 zaap:ShanghaiPudongDevelopmentBankMember zaap:TaizhouJonwayJingMaoTradingLtdMember 2016-01-01 2016-09-30 0001024628 zaap:TaizhouHuaduMember 2015-12-31 0001024628 zaap:MrAlexWangMember 2016-09-30 0001024628 zaap:ChinaEverbrightBankMember 2015-06-01 2015-06-30 0001024628 zaap:JonwayAutoMember 2016-09-30 0001024628 zaap:JonwayAutoMember 2015-01-01 2015-09-30 0001024628 zaap:ZapCompanyMember 2015-01-01 2015-09-30 0001024628 us-gaap:GeographicConcentrationRiskMember us-gaap:CostOfGoodsTotalMember 2015-01-01 2015-09-30 0001024628 zaap:JonwayGroupMember 2016-01-01 2016-09-30 0001024628 zaap:DistributionAgreementsMember 2015-01-01 2015-09-30 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2015-12-31 0001024628 zaap:ChinaEverbrightBankMember 2016-09-30 0001024628 us-gaap:GeographicConcentrationRiskMember us-gaap:CostOfGoodsTotalMember 2016-01-01 2016-09-30 0001024628 us-gaap:SupplierConcentrationRiskMember us-gaap:CostOfGoodsTotalMember zaap:VendorOneMember 2016-01-01 2016-09-30 0001024628 zaap:JonwayGroupMember 2015-01-01 2015-09-30 0001024628 zaap:SanmenBranchOfZhejiangUfoAutomobileMember zaap:VehiclesFromThreeThousandOneToFiveThousandMember us-gaap:MaximumMember 2016-01-01 2016-09-30 0001024628 zaap:TaizhouHuaduMember 2016-09-30 0001024628 zaap:CathayaOperationsMember 2015-12-31 0001024628 zaap:CiticBankMember 2016-09-30 0001024628 zaap:CiticBankMember 2015-12-31 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2015-03-01 2015-03-31 0001024628 us-gaap:NotesPayableToBanksMember zaap:ShanghaiPudongDevelopmentBankMember 2015-12-31 0001024628 zaap:ZapCompanyMember 2016-09-30 0001024628 zaap:SanmenBranchOfZhejiangUfoAutomobileMember zaap:VehiclesFromThreeThousandOneToFiveThousandMember us-gaap:MinimumMember 2016-01-01 2016-09-30 0001024628 zaap:JonwayMotorCycleMember 2016-09-30 0001024628 us-gaap:SubsidiariesMember us-gaap:ChiefExecutiveOfficerMember 2015-09-01 2015-09-30 0001024628 us-gaap:NotesPayableToBanksMember us-gaap:MaximumMember 2016-01-01 2016-09-30 0001024628 zaap:BetterWorldMember 2016-09-30 0001024628 zaap:GoldenstoneWorldwideMember 2015-12-31 0001024628 zaap:DistributionAgreementsMember 2016-01-01 2016-09-30 0001024628 zaap:LuoHuaLiangMember us-gaap:ConvertibleNotesPayableMember 2015-09-02 2015-09-03 0001024628 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember zaap:CustomerOneMember 2016-01-01 2016-09-30 0001024628 zaap:SanmenBranchOfZhejiangUfoAutomobileMember 2016-01-01 2016-09-30 0001024628 zaap:SanmenBranchOfZhejiangUfoAutomobileMember zaap:VehiclesOverFiveThousandMember us-gaap:MinimumMember 2016-01-01 2016-09-30 0001024628 zaap:JonwayEconomyAndTradeCoLtdMember 2015-12-31 0001024628 zaap:MrHuaiyiWangMember 2016-09-30 0001024628 zaap:BetterWorldMember 2016-09-30 0001024628 zaap:ZhejiangJonwayPaintingCoLtdMember 2016-09-30 0001024628 zaap:CathayaManagementLtdMember 2015-09-30 0001024628 zaap:ChinaElectricVehicleCorporationMember 2015-09-30 0001024628 zaap:SparePartsMember zaap:JonwayMotorCycleMember 2016-01-01 2016-09-30 0001024628 zaap:ShanghaiZappleMember 2016-09-30 0001024628 zaap:CiticBankMember 2015-10-31 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2016-01-01 2016-09-30 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2015-01-01 2015-09-30 0001024628 us-gaap:NotesPayableToBanksMember zaap:CiticBankMember 2016-09-30 0001024628 zaap:JonwayEconomyAndTradeCoLtdMember 2016-09-30 0001024628 zaap:JonwayEVSellingLtdMember 2016-09-30 0001024628 zaap:JonwayEVSellingLtdMember 2015-12-31 0001024628 zaap:ShanghaiZappleMember 2016-09-30 0001024628 zaap:CathayaOperationsMember 2016-09-30 0001024628 zaap:SanmenBranchOfZhejiangUfoAutomobileMember 2015-01-01 2015-09-30 0001024628 2015-07-01 2015-09-30 0001024628 2016-07-01 2016-09-30 0001024628 zaap:DistributionAgreementsMember 2016-07-01 2016-09-30 0001024628 zaap:DistributionAgreementsMember 2015-07-01 2015-09-30 0001024628 zaap:CiticBankMember 2015-10-01 2015-10-31 0001024628 zaap:CiticBankMember 2016-04-13 0001024628 zaap:CiticBankMember 2016-04-01 2016-04-13 0001024628 zaap:CiticBankMember 2016-04-14 0001024628 zaap:CiticBankMember 2016-04-01 2016-04-14 0001024628 zaap:CiticBankMember 2016-04-26 0001024628 zaap:CiticBankMember 2016-04-01 2016-04-26 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2016-06-08 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2016-06-01 2016-06-08 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2016-06-22 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2016-06-01 2016-06-22 0001024628 us-gaap:GeographicConcentrationRiskMember us-gaap:SalesRevenueNetMember 2016-01-01 2016-09-30 0001024628 us-gaap:GeographicConcentrationRiskMember us-gaap:SalesRevenueNetMember 2015-01-01 2015-09-30 0001024628 us-gaap:GeographicConcentrationRiskMember us-gaap:CostOfGoodsTotalMember 2016-07-01 2016-09-30 0001024628 us-gaap:GeographicConcentrationRiskMember us-gaap:CostOfGoodsTotalMember 2015-07-01 2015-09-30 0001024628 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember zaap:CustomerOneMember 2015-01-01 2015-09-30 0001024628 us-gaap:SupplierConcentrationRiskMember us-gaap:CostOfGoodsTotalMember zaap:VendorOneMember 2015-07-01 2015-09-30 0001024628 zaap:JonwayAutoMember 2016-07-01 2016-09-30 0001024628 zaap:ZapCompanyMember 2016-07-01 2016-09-30 0001024628 zaap:ZapHongKongMember 2016-07-01 2016-09-30 0001024628 zaap:JonwayAutoMember 2015-07-01 2015-09-30 0001024628 zaap:ZapHongKongMember 2015-07-01 2015-09-30 0001024628 zaap:ZapCompanyMember 2015-07-01 2015-09-30 0001024628 zaap:JonwayGroupMember 2016-07-01 2016-09-30 0001024628 zaap:JonwayGroupMember 2015-07-01 2015-09-30 0001024628 zaap:SparePartsMember zaap:JonwayMotorCycleMember 2015-01-01 2015-09-30 0001024628 zaap:SparePartsMember zaap:TaizhouHuaduMember 2015-01-01 2015-09-30 0001024628 us-gaap:ChiefFinancialOfficerMember us-gaap:RestrictedStockMember 2015-06-01 2015-06-30 0001024628 zaap:SanmenBranchOfZhejiangUfoAutomobileMember 2016-07-01 2016-09-30 0001024628 zaap:SanmenBranchOfZhejiangUfoAutomobileMember 2015-07-01 2015-09-30 0001024628 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember zaap:CustomerOneMember 2016-07-01 2016-09-30 0001024628 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember zaap:CustomerOneMember 2015-07-01 2015-09-30 0001024628 zaap:JonwayAutoMember 2015-09-30 0001024628 zaap:ZapCompanyMember 2015-09-30 0001024628 zaap:ZapHongKongMember 2015-09-30 0001024628 2015-09-30 0001024628 2016-11-09 0001024628 zaap:CathayaManagementLtdMember 2016-08-31 0001024628 zaap:CathayaManagementLtdMember 2016-08-01 2016-08-31 0001024628 zaap:CathayaManagementLtdMember zaap:ChiefFinancialOfficerOneMember 2016-08-01 2016-08-31 0001024628 2016-07-01 2016-07-31 0001024628 zaap:CevcMember 2016-07-01 2016-07-31 0001024628 zaap:DebtholderMember 2016-07-01 2016-07-31 0001024628 zaap:DebtholderMember 2016-07-31 0001024628 zaap:CevcMember 2016-07-31 0001024628 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember zaap:CustomerTwoMember 2016-07-01 2016-09-30 0001024628 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember zaap:CustomerTwoMember 2015-07-01 2015-09-30 0001024628 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember zaap:CustomerThreeMember 2015-07-01 2015-09-30 0001024628 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember zaap:CustomerTwoMember 2016-01-01 2016-09-30 0001024628 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember zaap:CustomerThreeMember 2016-01-01 2016-09-30 0001024628 zaap:CevcConvertibleNoteMember 2016-07-01 2016-09-30 0001024628 zaap:CevcConvertibleNoteMember 2016-01-01 2016-09-30 0001024628 zaap:CevcConvertibleNoteMember 2015-07-01 2015-09-30 0001024628 zaap:CevcConvertibleNoteMember 2015-01-01 2015-09-30 0001024628 zaap:CevcConvertibleNoteMember 2016-09-30 0001024628 zaap:CevcConvertibleNoteMember 2015-12-31 0001024628 zaap:LuoHuaLiangMember us-gaap:ConvertibleDebtMember 2016-07-01 2016-09-30 0001024628 zaap:LuoHuaLiangMember us-gaap:ConvertibleDebtMember 2016-01-01 2016-09-30 0001024628 zaap:LuoHuaLiangMember us-gaap:ConvertibleDebtMember 2015-07-01 2015-09-30 0001024628 zaap:LuoHuaLiangMember us-gaap:ConvertibleDebtMember 2015-01-01 2015-09-30 0001024628 zaap:LuoHuaLiangMember us-gaap:ConvertibleDebtMember 2016-09-30 0001024628 zaap:LuoHuaLiangMember us-gaap:ConvertibleDebtMember 2015-12-31 0001024628 us-gaap:SupplierConcentrationRiskMember us-gaap:CostOfGoodsTotalMember zaap:VendorOneMember 2016-07-01 2016-09-30 0001024628 us-gaap:SupplierConcentrationRiskMember us-gaap:CostOfGoodsTotalMember zaap:VendorTwoMember 2015-07-01 2015-09-30 0001024628 us-gaap:SupplierConcentrationRiskMember us-gaap:CostOfGoodsTotalMember zaap:VendorThreeMember 2015-07-01 2015-09-30 0001024628 us-gaap:SupplierConcentrationRiskMember us-gaap:CostOfGoodsTotalMember zaap:VendorOneMember 2015-01-01 2015-09-30 0001024628 us-gaap:SupplierConcentrationRiskMember us-gaap:CostOfGoodsTotalMember zaap:VendorTwoMember 2016-01-01 2016-09-30 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2016-07-01 2016-07-22 0001024628 zaap:IndustrialAndCommercialBankOfChinaMember 2016-07-22 iso4217:USD iso4217:USD xbrli:shares xbrli:shares xbrli:pure iso4217:CNY zaap:item iso4217:CNY iso4217:USD 20872000 9639000 16000 9623000 3300000 7100000 20606000 266000 21700000 10700000 7154000 3286000 9600000 20600000 3700000 7300000 3279000 7000 7089000 65000 -13867000 -10083000 -3485000 -6598000 -9529000 -4338000 -3714000 -3317000 -2185000 -1132000 -2235000 -1479000 1614000 124000 998000 616000 1000 123000 79650000 68793000 56008000 12785000 63904000 17742000 9000 81655000 13978000 11771000 149000 11000 11413000 12606000 64000 35000 74000 846000 4000 193000 64000 14000 149000 157000 0.06 0.0436 0.0666 0.06 0.0592 0.067 0.064 0.061 0.12 0.08 0.054 0.059 0.06 0.06 0.06 0.050 0.044 0.05 6000000 4000000 7000000 2100000 500000 500000 2100000 9039000 8162000 1296000 1290000 1380000 -19000 132000 25000 -48000 6.4917 6.6702 6.3638 16560000 16560000 2160000 14400000 2160000 14400000 9601000 10681000 1440000 1440000 1440000 119000 P1Y P1Y P1Y P1Y P2Y P1Y P1Y P1Y P6M P1Y P1Y P1Y P1Y P1Y P1Y 1400000 500000 300000 1100000 1300000 1100000 1000000 1000 800000 5000000 3100000 1500000 1400000 2100000 300000 700000 1100000 5172000 4776000 1054000 212000 301000 405000 3317000 4659000 7446000 7032000 1531000 1936000 439000 76000 2237000 2025000 3186000 2117000 ZAP 2016-09-30 --12-31 0001024628 2016 0.50 0.50 1.00 1.00 0.50 1.00 -977000 -1037000 3000 -1040000 -1054000 77000 -194000 -379000 -380000 1000 -189000 -5000 6214000 5825000 1915000 3910000 4253000 1961000 1080000 1080000 2016000 1948000 360000 360000 684000 1264000 1363000 653000 0.998 0.9910 0.991 0.9990 0.113 0.14 0.998 0.9870 0.998 0.9900 0.18 0.2260 0.44 0.14 0.45 0.12 0.10 0.15 0.16 0.292 0.119 0.101 0.119 0.110 20679000 20679000 21465000 21465000 2274000 2256000 1614000 451000 1168000 3616000 4020000 Smaller Reporting Company 10-Q 1531000 1936000 1440000 6.1735 6.5802 6.2288 786000 786000 20700000 20700000 0.51 false Q3 5879000 0.058 0.066 -0.02 -0.01 -0.01 -0.00 470777 584238 496392 595658 0.375 0.50 2017-03-25 2016-06-30 2016-07-31 2016-03-31 2016-04-30 2017-04-13 2017-04-14 2017-04-26 8988000 7721000 5915000 5096000 7743000 6872000 147000 574000 947000 23427000 20744000 35893000 31003000 8930000 8538000 6959000 5879000 2513000 2199000 314000 306000 11400000 8508000 7702000 10045000 21486000 24871000 21465000 21465000 4000000 2994000 7391000 6757000 1638000 1251000 2256000 2532000 94282000 91656000 152000 148000 152000 148000 94434000 91804000 251689000 253433000 1359000 1319000 -264144000 -270994000 -11096000 -16242000 -3688000 -6769000 -14784000 -23011000 79650000 68793000 21849000 10676000 7348000 3665000 2791000 1497000 909000 450000 6950000 6006000 2301000 2161000 1721000 252000 38000 84000 11462000 7755000 3248000 2695000 -12439000 -8792000 -3442000 -3074000 2081000 1848000 646000 625000 653000 557000 374000 382000 -1428000 -1291000 -272000 -243000 -13867000 -10083000 -3714000 -3317000 -4669000 -3233000 -1055000 -1070000 -9198000 -6850000 -2659000 -2247000 -1000 112000 -130000 27000 -13868000 -9971000 -3844000 -3290000 -4607000 -3081000 -1096000 -1050000 -9261000 -6890000 -2748000 -2240000 800000000 800000000 578465159 605937077 578465159 605937077 7702000 10045000 4498000 4621000 5547000 3081000 605937077 2300000 2200000 P5Y 3000 5000 3001 5000 44000 30000 22000 468000 260000 1666000 260000 111000 362000 1299000 22000000 P10Y P10Y 70900000 23000000 6000000 15000000 5000000 6900000 5500000 3500000 5500000 4500000 3000000 4000000 450000 450000 0.06 0.05 0.047 14366000 9970000 6428000 10000000 5997000 7086000 852000 3973000 2016-01-01 2016-12-31 2016-05-31 2017-03-31 <div><div style="text-align: left; font: 10pt Times New Roman, Times, serif"><font style="font: bold 10pt Times New Roman, Times, serif">NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION</font></div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="background-color: #ffffff"> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">ZAP was incorporated in California in September, 1994 (together with its subsidiaries, the &#8220;Company&#8221; or &#8220;ZAP Group&#8221;).&#160;&#160;ZAP Group markets electric, alternative energy, and fuel efficient automobiles and commercial vehicles, motorcycles and scooters, and other forms of personal transportation. The Company&#8217;s business strategy is to develop, acquire, and commercialize electric vehicles and electric vehicle power systems which the Company believes have fundamental practical and environmental advantages over available internal combustion modes of transportation and that can be produced commercially on an economically competitive basis.</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">In pursuit of a manufacturing plant and a partner with an existing product line, a distribution and customer support network in China, and experience in vehicle manufacturing, ZAP acquired a majority of the outstanding equity in Zhejiang Jonway Automobile Co., Ltd. (&#8220;Jonway Auto&#8221;). The Company believes its 51% acquisition of Jonway Auto will enable it to access the rapidly-growing Chinese market for electric vehicles (&#8220;EV&#8221;) and to expand its EV business and distribution network around the world. The Company also believes Jonway Auto&#8217;s ISO 9001 certified manufacturing facility provides the competitive production capacity and resources to support production of ZAP Group&#8217;s new line of electric SUV, minivan, and Neighborhood EV (&#8220;NEV&#8221;).</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Jonway Auto is a limited liability company incorporated in Sanmen County, Zhejiang Province of the People&#8217;s Republic of China (the &#8220;PRC&#8221;) on April 28, 2004 by Jonway Group Co., Ltd. (&#8220;Jonway Group&#8221;). Jonway Group is under the control of three individuals, Wang Huaiyi, Alex Wang (the son of Wang Huaiyi) and Wang Xiaoying (the daughter of Wang Huaiyi and all three individuals collectively referred to as the &#8220;Wang Family&#8221;).</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">ZAP has a wholly owned subsidiary, ZAP Hong Kong, a Hong Kong limited company. ZAP Hong Kong was established in 2011 as a wholly foreign owned enterprises (&#8220;WFOE&#8221;) and has no operation since incorporated. Jonway Auto established three wholly-owned subsidiaries, namely, Taizhou Selling Co., Ltd., focusing on vehicles marketing and distribution, Taizhou Fuxing Vehicle Sale Co., Ltd., focusing on minivan marketing and distribution in China, and Taizhou Vehicle Leasing Co., Ltd., focusing on the vehicle leasing business in Taizhou.</div></div></div> <div><div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES</div> <div>&#160;</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">Basis of Presentation and Consolidation</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif"> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">The accompanying unaudited condensed consolidated financial statements include the financial statements of ZAP, and its subsidiaries, and are prepared in accordance with United States (&#8220;U.S.&#8221;) generally accepted accounting principles (&#8220;GAAP&#8221;) for interim financial information pursuant to the rules and regulations of the Securities and Exchange Commission (&#8220;SEC&#8221;). Management considers subsidiaries to be companies that are over 50% controlled. Significant intercompany transactions and balances are eliminated in consolidation; profits from intercompany sales, are also eliminated; non-controlling interests are included in equity.&#160;&#160;The Company accounts for its 37.5% interest in the ZAP Hangzhou and its 50% interest in Shanghai Zapple using the equity method of accounting because it has significant influence but not control. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the financial statements have been included. Interim results are not necessarily indicative of results to be expected for the full year. The information included in this Form 10-Q should be read in conjunction with information included in the 2015 annual report on Form 10-K filed on April 14, 2016.</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </div> <div style="text-align: justify; font: bold 10pt Times New Roman, Times, serif; color: #000000">Use of Estimates</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. The more significant estimates relate to revenue recognition, contractual allowances and uncollectible accounts, intangible assets, accrued liabilities, stock based compensation, litigation and contingencies. Estimates are based on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances, the results of which form the basis for judgments about results and the carrying values of assets and liabilities. Actual results and values may differ significantly from these estimates.</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: left; font: bold 10pt Times New Roman, Times, serif; color: #000000">Revenue Recognition</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">The Company records revenues for non-Jonway Auto sales when all of the following criteria have been met:</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify"> <table id="zf90073dc571248a190b6ab06f62b92e6" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">-</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">&#160;Persuasive evidence of an arrangement exists. The Company generally relies upon sales contracts or agreements, and customer purchase orders to determine the existence of an arrangement.</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify"> <table id="z443a29d6596a44938f5956cb162ab0c2" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">-</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">Sales price is fixed or determinable. The Company assesses whether the sales price is fixed or determinable based on the payment terms and whether the sales price is subject to refund or adjustment.&#160;</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify"> <table id="zbe9658b8d74a439fb4784d77228f35dc" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">-</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">Delivery has occurred. The Company uses shipping terms and related documents, or written evidence of customer acceptance, when applicable, to verify delivery or performance. The Company&#8217;s customary shipping terms are FOB shipping point.</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify"> <table id="z260b2e2470da429c99996483428b4ec9" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">-</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">Collectability is reasonably assured.&#160;&#160;The Company assesses collectability based on creditworthiness of customers as determined by the Company&#8217;s credit checks and their payment histories. The Company records accounts receivable net of allowance for doubtful accounts and estimated customer returns.</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;The Company records revenues for Jonway Auto sales only upon the occurrence of all of the following&#160;conditions:</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify"> <table id="z167f431e7ce641cc99dd5156c8f5992e" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">-</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">The Company has received a binding purchase order from the customer or distributor authorized by a representative empowered to commit the purchaser (evidence of a sale);</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify"> <table id="zf190097fd13442aea9051cc8f382530a" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">-</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">The purchase price has been fixed, based on the terms of the purchase order;</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify"> <table id="z0342467c6448486ea9fc8ceb10b8a4ab" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">-</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">The Company has delivered the product from its factory to a common carrier acceptable to the customer; and</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: left"> <table id="zef1705610549475c98ecf1752a822ea5" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">-</td> <td style="text-align: left; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">The Company deems the collection of the amount invoiced probable.</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">The Company provides no price protection. Sales are recognized net of sale discounts, rebates and return allowances.</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="background-color: #ffffff"> <div style="text-align: left; font: bold 10pt Times New Roman, Times, serif; color: #000000">Fair Value of Financial Instruments</div> <div><br /> </div> </div> <div style="text-align: justify; background-color: #ffffff; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Accounting Standards Update (&#8220;ASU&#8221;) 820, &#8220;Fair Value Measurements&#8221; and Accounting Standards Codification (&#8220;ASC&#8221;) 825, Financial Instruments, requires an entity to use observable inputs and minimize the use of unobservable inputs when measuring fair value. It establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used fair value. A financial instrument&#8217;s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. It prioritizes the inputs into three levels that may be used to measure fair value:</div> <div style="background-color: #ffffff"><br /> </div> <div style="text-align: left"> <table id="zb143619539b24bf2be85e5a73c9bfa6a" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt; font: 10pt Times New Roman, Times, serif; vertical-align: top">Level 1:</td> <td style="text-align: left; width: auto; font: 10pt Times New Roman, Times, serif; vertical-align: top">Observable inputs such as quoted prices in active markets;</td> </tr> </table> </div> <div style="background-color: #ffffff"><br /> </div> <div style="text-align: left"> <table id="za8622ce364ab401985aeee41ad0ffbcb" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt; font: 10pt Times New Roman, Times, serif; vertical-align: top">Level 2:</td> <td style="text-align: left; width: auto; font: 10pt Times New Roman, Times, serif; vertical-align: top">Inputs other than quoted prices that are observable for the asset or liability in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.</td> </tr> </table> </div> <div style="background-color: #ffffff"><br /> </div> <div style="text-align: left"> <table id="z1a898cef7fe14fa2a69820ecb46b5e45" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt; font: 10pt Times New Roman, Times, serif; vertical-align: top">Level 3:</td> <td style="text-align: left; width: auto; font: 10pt Times New Roman, Times, serif; vertical-align: top">Unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions and&#160;methodologies that result in management&#8217;s best estimate of fair value.</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif"><font style="font: 10pt Times New Roman, Times, serif; color: #000000">The carrying value of current assets and liabilities approximate their fair values because of the short-term nature of these instruments. </font>The carrying value of the senior convertible debt (see Note 8), which approximates fair value, is influenced by interest rates and the Company&#8217;s stock price, and is determined by prices for the convertible debts observed in market trading, which are Level 2 inputs.</div> <div><br /> </div> <div style="text-align: justify; font: bold 10pt Times New Roman, Times, serif; color: #000000">Foreign Currency Translation</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">The Company and its wholly owned subsidiary/investments, maintain their accounting records in United States Dollars (&#8220;US$&#8221;) whereas Jonway Auto maintains its accounting records in the currency of Renminbi (&#8220;RMB&#8221;), being the primary currency of the economic environment in which their operations are conducted.</div> <div><br /> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Jonway Auto&#8217;s principal country of operations is the PRC. The financial position and results of the Company&#8217;s operations are determined using RMB, the local currency, as the functional currency.&#160;&#160;The results of operations and the statement of cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period.&#160;&#160;Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date.&#160;&#160;The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital contribution.&#160;&#160;Due to the fact that cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the balance sheet.&#160;&#160;Translation adjustments arising from the use of different exchange rates from period to period are included as a component of stockholder&#8217;s equity as &#8220;Accumulated Other Comprehensive Income.&#8221;</div> <div><br /> </div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">The value of RMB against US$ and other currencies may fluctuate and is affected by, among other things, changes in China&#8217;s political and economic conditions, any significant revaluation of RMB may materially affect the Company&#8217;s financial condition in terms of US$ reporting.&#160;&#160;The following table outlines the currency exchange rates that were used in creating the unaudited condensed consolidated financial statements in this report:</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div>&#160;</div> <table id="z0b384f8fd266414a933dce458ee5a1e8" cellspacing="0" cellpadding="0" align="center" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000"><u>September 30, 2016</u></div> </td> <td style="vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000"><u>September 30,</u></div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000"><u>2015</u></div> </td> <td style="vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000"><u>December 31, 2015</u></div> </td> </tr> <tr> <td style="vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="vertical-align: top">&#160;</td> <td style="vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;&#160;&#160;</div> </td> </tr> <tr> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Balance sheet items, except for share capital, additional</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;&#160;paid in capital and retained earnings</div> </td> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">$ 1=RMB 6.6702&#160;</div> </td> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">$ 1=RMB6.3638</div> </td> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;$1=RMB6.4917</div> </td> </tr> <tr> <td style="background-color: #ffffff; vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="background-color: #ffffff; vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="background-color: #ffffff; vertical-align: top">&#160;</td> <td style="background-color: #ffffff; vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;&#160;&#160;</div> </td> </tr> <tr> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Amounts included in the statements of operations</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;&#160;and cash flows</div> </td> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">$ 1=RMB 6.5802</div> </td> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">$ 1=RMB6.1735</div> </td> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">$1=RMB 6.2288</div> </td> </tr> </table> <div style="clear: both">&#160;</div> <div style="text-align: justify; font: bold 10pt Times New Roman, Times, serif; color: #000000">Recent Accounting Pronouncements</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">In August 2016, the FASB issued ASU No. 2016 15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, to provide guidance <font style="background-color: #ffffff; font: 10pt Times New Roman, Times, serif">on the presentation and classification of certain cash receipts and cash payments on the statement of cash flows. The guidance specifically addresses cash flow issues with the objective of reducing the diversity in practice. The guidance will be effective for the Company in fiscal year 2018, but early adoption is permitted. The Company is currently evaluating the impact of this new standard on its unaudited condensed consolidated financial statements and related disclosures.</font></div> <div>&#160;</div> <div style="text-align: justify; background-color: #ffffff; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">In October 2016, the FASB issued ASU No. 2016 16, Income Taxes (Topic 740): Intra - Entity Transfers of Assets Other Than Inventory. The amendments require an entity to recognize income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs and remove the exception to postpone recognition until the asset has been sold to an outside party. The amendments are effective for public business entities for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual reporting periods. For all other entities, the amendments are effective for annual reporting periods beginning after December 15, 2018, and interim reporting periods within annual reporting periods beginning after December 15, 2019. Early adoption is permitted. The Company is currently evaluating the impact of this new standard on its unaudited condensed consolidated financial statements and related disclosures.</div> <div>&#160;</div> <div style="text-align: justify; background-color: #ffffff; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">In October 2016, the FASB issued ASU No. 2016-17, Consolidation (Topic 810): Interest Held through Related Parties That Are under Common Control, to provide guidance on the evaluation of whether a reporting entity is the primary beneficiary of a VIE by amending how a reporting entity, that is a single decision maker of a VIE, treats indirect interests in that entity held through related parties that are under common control. The amendments are effective for public business entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact of this new standard on its unaudited condensed consolidated financial statements and related disclosures.</div></div> <div><div style="text-align: left; font: bold 10pt Times New Roman, Times, serif; color: #000000">NOTE 4 &#8211; ACCOUNTS RECEIVABLE</div> <div><br /> </div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Accounts receivable consisted of the following:</div> <div><br /> </div> <table id="zc6fdbde8bb4346fcaa34e8054037ab1a" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 80%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Accounts receivable &#8211; third parties</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">2,256</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">2,274</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Accounts receivable &#8211; related parties</div> </td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">4,776</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">5,172</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">7,032</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">7,446</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Less &#8211; Allowance for doubtful accounts</div> </td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(1,936</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(1,531</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Total account receivable, net</div> </td> <td style="padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">5,096</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">5,915</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> <div style="clear: both"><br /> </div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000; margin-left: 36pt">Changes in the Company&#8217;s allowance for doubtful accounts as of September 30, 2016 and December 31, 2015 are as follows:</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <table id="zec31fc14ebd045b58f84c375777643d0" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 80%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Balance, beginning of period</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,531</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">439</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Write-off</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(76</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Current provision</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">405</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,168</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Balance, end of period</div> </td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,936</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,531</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> </div> <div><div></div> <div style="text-align: left; font: bold 10pt Times New Roman, Times, serif; color: #000000">NOTE 5 &#8211; INVENTORIES, NET</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Inventories, net are summarized as follows:</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <table id="z7aab3671ef0042f5a40f2d21cb9ae97b" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 80%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Work in Process</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">2,025</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">2,237</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Parts and supplies</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">4,020</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">3,616</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Finished goods</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">2,117</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">3,186</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">8,162</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">9,039</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Less - inventory reserve</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(1,290</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(1,296</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Inventories, net</div> </td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">6,872</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">7,743</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000; clear: both">&#160;</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000; margin-left: 36pt">Changes in the Company&#8217;s inventory reserve as of September 30, 2016 and December 31, 2015 are as follows:</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <table id="ze752813219eb4acb94e8f30fdd50d094" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 80%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Balance, beginning of period</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,296</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,380</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Current provision (recovery) for Jonway Auto</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">19</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(132</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Current provision (recovery) for inventory ZAP, net</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(25</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">48</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Balance, end of period</div> </td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,290</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,296</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td></tr></table></div> <div><div style="text-align: justify; font: bold 10pt Times New Roman, Times, serif; color: #000000">NOTE 6 - DISTRIBUTION AGREEMENTS</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Distribution agreements are presented below:</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <table id="z3af888f3b061450c8219806db37ea04d" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 80%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Better World Products - related party</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">2,160</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">2,160</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Jonway Products</div> </td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">14,400</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">14,400</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">16,560</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">16,560</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Less: amortization</div> </td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(10,681</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(9,601</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">5,879</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">6,959</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> <div style="clear: both"><br /> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Amortization expenses related to these distribution agreements for the three and nine months ended September 30, 2016 and 2015 was $360,000 and $360,000, $1,080,000 and $1,080,000, respectively. Amortization is based over the term of the agreements. No impairment loss was recorded for the three and nine months ended September 30, 2016 and 2015. The estimated future amortization expense is as follows:</div> <div><br /> </div> <table id="z3415c783d4fa49a9a1325a85892cbeac" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 60%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 82%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000"><u>12 months ended September 30,</u></div> </td> <td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 82%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">2017</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 15%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,440</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 82%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">2018</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 15%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,440</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 82%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">2019</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 15%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,440</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 82%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">2020</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 15%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,440</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 82%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Thereafter</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 15%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">119</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #ffffff; width: 82%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Total</div> </td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 15%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">5,879</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td></tr></table></div> <div><div style="text-align: left; font: bold 10pt Times New Roman, Times, serif; color: #000000">NOTE 7 &#8211; SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES</div> <div>&#160;</div> <div style="text-align: justify; font: bold 10pt Times New Roman, Times, serif; color: #000000">Short Term Debts</div> <div>&#160;</div> <div> <div style="text-align: justify; background-color: #ffffff; text-indent: 32.2pt; font: 10pt Times New Roman, Times, serif"><font style="font: 10pt Times New Roman, Times, serif; color: #000000">In June 2015, the Company was approved for up to an aggregate of $6.9 million of a credit line from China Everbright Bank with 50% restricted cash deposited and credit exposure of $3.5 million. The Company renewed the agreement in June 2016 and the renewed agreement expires in June 2017.&#160; The credit line is secured by </font>a land use right and a building with a total carrying amount of $2.1 million. Three shareholders and <font style="font: 10pt Times New Roman, Times, serif; color: #000000">the Chief Executive Officer (&#8220;CEO&#8221;)</font> also personally guaranteed on this credit line.&#160; <font style="font: 10pt Times New Roman, Times, serif; color: #000000">As of September 30, 2016, $6.0 million was drawn down as notes payable from China Everbright Bank.&#160; The amount of restricted cash deposited with the bank was $3.0 million. As of September 30, 2016, </font><font style="background-color: #ffffff; font: 10pt Times New Roman, Times, serif; color: #000000">the unused line of credit was approximately $0.45 million.</font></div> <div style="text-align: justify; background-color: #ffffff; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="text-align: justify; background-color: #ffffff; font: 10pt Times New Roman, Times, serif"> <div style="text-align: justify; background-color: #ffffff; text-indent: 32.2pt; font: 10pt Times New Roman, Times, serif"><font style="font: 10pt Times New Roman, Times, serif; color: #000000">&#160;In March 2014, the Company has obtained up to an aggregate of $15.0 million of credit line with the credit exposure of $5.5 million from CITIC Sanmen Branch through Jonway Auto.&#160; The credit line was extended for one more year and expires on November 2016. The credit line is secured by land and building owned by Jonway Auto and guaranteed by the related party &#8211; Jonway Group.&#160; </font>The shareholder and the CEO also personally guaranteed this credit line. <font style="font: 10pt Times New Roman, Times, serif; color: #000000">As of September 30, 2016, the Company borrowed aggregated $5.5 million loans with various due dates in March 25, 2017 to April 26, 2017 from CITIC Sanmen Branch. The loans carried at annual interests of 6.0%.&#160; The Company has also drawn down $4.0 million in the form of notes payable as of September 30, 2016.&#160; The Company deposited $4.0 million restricted cash as collateral for these notes payable. These notes are due in March 2017.&#160; As of September 30, 2016, the line of credit has been fully utilized.</font></div> <div style="text-align: justify; background-color: #ffffff; font: 10pt Times New Roman, Times, serif">&#160;</div> </div> </div> <div style="background-color: #ffffff"> <div style="text-align: justify; text-indent: 32.2pt; font: 10pt Times New Roman, Times, serif; color: #000000"><font style="background-color: #ffffff; font: 10pt Times New Roman, Times, serif">The Company has qualified for an aggregate of $5.0 million of a credit line from ICBC. This credit line is secured by land and buildings owned by Jonway Auto and guaranteed by related parties. </font>The credit line expires in March 2017. <font style="background-color: #ffffff; font: 10pt Times New Roman, Times, serif">As of September 30, 2016, the total outstanding loan under this credit line was $4.5 million. The annual interest rates are from 4.36% to 6.66%.&#160;&#160;The loans are due in various dates through </font>July 22, 2017<font style="background-color: #ffffff; font: 10pt Times New Roman, Times, serif">. As of September 30, 2016, the unused line of credit was approximately $0.45 million.</font></div> <div style="text-align: justify; text-indent: 32.2pt; font: 10pt Times New Roman, Times, serif">&#160;</div> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000"><font style="font: 10pt Times New Roman, Times, serif">Short term loans as of September 30, 2016 and December 31, 2015 are presented below:</font><font style="font: 10pt Times New Roman, Times, serif">&#160;</font></div> <div><br /> </div> <table id="z52c66fbf856c458caf5c2610524c605a" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 80%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;</div> </td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31, 2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Loan from CITIC bank</div> </td> <td style="background-color: #cceeff; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">(a)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">5,547</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">3,081</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Loan from ICBC</div> </td> <td style="background-color: #ffffff; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">(b)</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">4,498</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">4,621</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 64%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #ffffff; width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;</div> </td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">10,045</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">7,702</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; clear: both">.</div> <div style="text-align: justify"> <table id="z2c8bbbf060794120b25b32b30f507886" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 18pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">(a)</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; vertical-align: top">In October 2015, Jonway Auto borrowed a half year short-term loan of $3.1 million at annual interest rate of 5.9%. The loan was repaid upon maturity in April 2016.&#160;&#160;</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">On March 25, 2016, Jonway Auto entered into a one year loan of $0.5 million at annual interest rate of 6.0%. The loan is due on March 25, 2017.&#160; On April 13, 2016, Jonway Auto entered into a one year loan of $1.5 million at an annual interest rate of 6.0%. The loan is due on April 13, 2017. On April 14, 2016, Jonway Auto entered into a one year loan of $1.4 million at annual interest rate of 6.0%. The loan is due on April 14, 2017. On April 26, 2016, Jonway Auto further entered into a one year loan of $2.1 million at annual interest rate of 6.0%. The loan is due on April 26, 2017.</div> <div><br /> </div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; margin-left: 36pt">All loans are secured by a Maximum Amount Mortgage Contract between Jonway Auto and CITIC dated November 3, 2014, in which a land use right and a building with a total carrying amount of $5.0 million as of September 30, 2016 has been pledged as security for these loans. The shareholder and the CEO also personally guaranteed these loans.</div> <div><br /> </div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; margin-left: 36pt"><font style="font: 10pt Times New Roman, Times, serif; color: #000000">In March 2015, the Company </font><font style="font: 10pt Times New Roman, Times, serif">entered into</font><font style="font: 10pt Times New Roman, Times, serif; color: #000000"> a one year short-term loan of $0.8 million from ICBC at an annual interest of 5.4% and fully repaid the loan upon maturity in March 2016.&#160; In June 2015, the Company </font><font style="font: 10pt Times New Roman, Times, serif">entered into</font><font style="font: 10pt Times New Roman, Times, serif; color: #000000"> a one year short-term loan of $0.3 million from ICBC at an annual interest rate of 5.92% and fully repaid the loan upon maturity in June 2016. In July 2015, the Company </font><font style="font: 10pt Times New Roman, Times, serif">entered into</font><font style="font: 10pt Times New Roman, Times, serif; color: #000000"> a one year short-term loan of $1.1 million from ICBC at an annual interest rate of 6.7% and fully repaid the loan upon maturity in July 2016.&#160; In October 2015, the Company </font><font style="font: 10pt Times New Roman, Times, serif">entered into</font><font style="font: 10pt Times New Roman, Times, serif; color: #000000"> a one year short-term loan of $1.3 million at an annual interest of 6.4%. In November 2015, the Company </font><font style="font: 10pt Times New Roman, Times, serif">entered into</font><font style="font: 10pt Times New Roman, Times, serif; color: #000000"> a one year short-term loan of $1.1 million at an annual interest rate of 6.1%.&#160; On June 8, 2016, the Company </font><font style="font: 10pt Times New Roman, Times, serif">entered into</font><font style="font: 10pt Times New Roman, Times, serif; color: #000000"> a one year short-term loan of $0.3 million at an annual interest rate of 5.0%.&#160; On June 22, 2016, the Company </font><font style="font: 10pt Times New Roman, Times, serif">entered into</font><font style="font: 10pt Times New Roman, Times, serif; color: #000000"> a one year short-term loan of $0.7 million at an annual interest rate of 4.4%. On July 22, 2016, the Company </font><font style="font: 10pt Times New Roman, Times, serif">entered into</font><font style="font: 10pt Times New Roman, Times, serif; color: #000000"> a one year short-term loan of $1.1 million at an annual interest rate of 5%.</font>&#160;&#160;&#160;</div> <div>&#160;</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000; margin-left: 36pt">These loans were guaranteed by related parties including Jonway Group, the shareholder, Wang Huaiyi, and the shareholder and the CEO. The Company also pledged buildings and a land use right with a carrying value of $1.4 million with ICBC.</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000; margin-left: 36pt">The weighted average interest rates were 5.8% and 6.6% for the nine months ended September 30, 2016 and 2015, respectively.</div> <div>&#160;</div> <div style="text-align: left; font: bold 10pt Times New Roman, Times, serif; color: #000000">Bank acceptance notes</div> <div>&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;As of September 30, 2016, the Company has bank acceptance notes payable in the amount of $10.0 million. The notes are guaranteed to be paid by the banks and are usually for a short-term period of nine months. The Company is required to maintain cash deposits of 50% or 100% of the notes payable with these bank, in order to ensure future credit availability. As of September 30, 2016, the restricted cash for the notes was $7.0 million.&#160;Bank acceptance notes are presented below:</div> <div>&#160;</div> <div><br /> </div> <table id="zf429bcec0f0a4885952dbad56f53ea29" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 80%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;&#160;&#160;</div> </td> <td nowrap="nowrap" style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31, 2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Bank acceptance notes payable to China Everbright Bank</div> </td> <td style="background-color: #cceeff; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">(a)</div> </td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">5,997</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">7,086</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Bank acceptance notes payable to CITIC Bank</div> </td> <td style="background-color: #ffffff; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">(b)</div> </td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">3,973</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">6,428</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Bank acceptance notes payable to Shanghai Pudong Development bank</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">(c)</div> </td> <td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">852</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #ffffff; width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;&#160;&#160;</div> </td> <td style="text-align: right; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">9,970</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">14,366</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> <div style="clear: both"><br /> </div> <div style="text-align: justify"> <table id="ze83f5106b189430ca6717c29c82aac3d" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 18pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; vertical-align: top">(a)</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; vertical-align: top">Notes payable to China Everbright bank have various maturity dates in December 2016. The notes payable are guaranteed by a land use right and a building with a total carrying value of $2.1 million. The Company is also required to maintain cash deposits at 50% of the notes payable with the bank, in order to ensure future credit availability.</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify"> <table id="z8eb48959a47b47f7923fdbe9ce07d812" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 18pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">(b)</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Notes payable to CITIC bank will be due in March 2017.&#160; The Company is required to maintain cash deposits at 100% of the notes payable with the bank, in order to ensure future credit availability.</div> </td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify"> <table id="z5f509d16bcb2484ea5f79d5f413bac48" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 18pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">(c)</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">Notes payable to Shanghai Pudong Development Bank was due in January and May 2016. The Company was required to maintain cash deposits at 100% of the notes payable with the bank. The note payable was fully repaid upon due date.</td></tr></table></div></div> <div><div></div> <div style="text-align: justify; font: bold 10pt Times New Roman, Times, serif; color: #000000">NOTE 8 - CONVERTIBLE DEBT</div> <div><br /> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Convertible debts are presented below:</div> <table id="z13b78f8f1f544214a002ad5df8a82993" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 80%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td colspan="3" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="3" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Senior convertible debt &#8211; CEVC (a)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">20,679</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">20,679</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Convertible debt &#8211; Mr. Luo Hua Liang (b)</div> </td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">786</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">786</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">21,465</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">21,465</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> <div style="clear: both"><br /> </div> <div style="text-align: justify"> <table id="zae5ad22360684b4fa62337c64c586c90" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">(a)</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">Senior convertible debt - CEVC</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">On January 12, 2011, the Company entered into a Senior Secured Convertible Note and Warrant Purchase Agreement (the &#8220;Agreement&#8221;) with China Electric Vehicle Corporation (&#8220;CEVC&#8221;), a British Virgin Island company whose sole shareholder is Cathaya Capital, L.P., and a Cayman Islands exempted limited partnership (&#8220;Cathaya&#8221;).&#160; Priscilla Lu was the former chairwoman of the board of directors of ZAP, a managing partner of Cathaya and a director of CEVC.</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div>&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Pursuant to the Agreement, (i) CEVC purchased from the Company a Senior Secured Convertible Note (the &#8220;Note&#8221;) in the principal amount of $19 million, as amended; (ii) the Company issued to CEVC a warrant (the &#8220;Warrant&#8221;) exercisable for two years for the purchase up to 20 million shares of the Company&#8217;s Common Stock at $0.50 per share, as amended;&#160; (iii) the Company, certain investors and CEVC entered into an Amended and Restated Voting Agreement that amended and restated that certain Voting Agreement, dated as of August 6, 2009 that was previously granted to Cathaya Capital L.P.; (iv) the Company, certain investors and CEVC entered into an Amended and Restated Registration Rights Agreement that amended and restated that certain Registration Rights Agreement, dated as of August 6, 2009, that was previously granted to Cathaya Capital L.P which grants certain registration rights relating to the Note and the Warrant; and (v) the Company and CEVC entered into a Security Agreement that secures the Note with all of the Company&#8217;s assets other than those assets specifically excluded from the lien created by the Security Agreement.</div> <div>&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">The note is convertible upon the option of CEVC at any time, into (a) shares of Jonway Auto capital stock owned by ZAP at a conversion rate of 0.003743% of shares of Jonway Auto capital stock owned by ZAP for each $1,000 principal amount of the Note being converted; or (b) shares of ZAP common stock at a conversion rate of 4,435 shares of common stock for each $1,000 principal amount of the Note being converted.</div> <div>&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">This convertible note was extended until December 31, 2016 with interest accrual at 8% per annum with original maturing date of February 12, 2012. According to Accounting Standard Codification (&#8220;ASC&#8221;) 470-10, the market interest should be imputed for the non-interest bearing loan between the related parties; therefore in the extended agreement the Convertible Note bears a market interest rate at 8%. With the new extension, the principal of $20.7 million has the same conversion terms to cash, and will also be convertible in part or in whole to shares of ZAP or Jonway Auto at maturity date or at any time with a 90 day notice. Beginning August 12, 2013 within 10 calendar days following the end of each fiscal quarter, the Company is required to pay Holder the Additional Interest accrued during such fiscal quarter by issuing the Holder or a party designated by the Holder, the number of shares of the Company&#8217;s Common Stock equal to the Additional Interest accrued during such fiscal quarter divided by the average of the Closing Prices for each trading day during such fiscal quarter ending on (and including) the last Trading Day of such fiscal quarter. The Additional Interest Rate may be amended from time to time with the written consent of the Holder and the Company. In addition, the warrants issued in connection with the CEVC note were amended for the change of the terms of conversion and for the extension of the maturity date until December 31, 2016 (See Note 11).</div> <div>&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Upon expiration date of the CEVC note on December 31, 2016, it is most likely that this convertible note will be repaid by ZAP in the form of Jonway Auto shares in order to reduce the liability of ZAP. If the CEVC note is repaid by Jonway Auto shares, ZAP&#8217;s ownership of Jonway Auto would be reduced to less than majority interest, resulting in need to reconsider eligibility for consolidation.&#160; Due to the increasing accumulation of debt from Jonway Auto, largely because of the lack of working capital to fulfill orders, Jonway Auto may seek equity funding in order to meet its operational financial needs.&#160; If this were to happen, then the additional equity investment into Jonway Auto would also reduce ZAP&#8217;s majority equity ownership in Jonway Auto. As a result, the qualification for ZAP to consolidate Jonway Auto would have to be reassessed based on ZAP's financial control, board and management control of Jonway Auto.</div> <div>&#160;</div> <div> <div style="text-align: left; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Interest expense related to CEVC convertible note for the three and nine months ended September 30, 2016 was $416,981 and $1,242,929, respectively, and for the three and nine months ended September 30, 2015 was $416,981 and $1,237,345, respectively. Accrued interest related to CEVC convertible note was $829,429 and $833,961, as of September 30, 2016 and December 31, 2015, respectively.</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </div> <div><br /> </div> <div style="text-align: justify"> <table id="z041de6515aab474697d69a1c1e7594f0" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">(b)</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">Convertible debt &#8211; Mr. Luo Hua Liang</td> </tr> </table> </div> <div>&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif"><font style="font: 10pt Times New Roman, Times, serif; color: #000000">On September 3, 2015, the board approved issuance of a convertible note to Mr. Luo Hua Liang (the CEO&#8217;s brother in-law) for his investment of RMB 5 million immediately deposited within one week of signing of the agreement and another investment up to RMB 5 million within one month of signing of the agreement. Both notes have one year terms at the interest rate of 12% per annum, and they have been extended one year to September 2017. The investment was transferred to Jonway Auto as the loan from the Company to Jonway Auto. The convertible note shall either be repaid in cash from Jonway Auto or be paid in ZAP shares. The convertible note&#8217;s conversion price is $0.06 per share.</font>&#160;</div> <div>&#160;</div> <div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Interest expense related to this convertible debt for the three and nine months ended September 30, 2016 was $22,437 and $68,199, respectively, and for the three and nine months ended September 30, 2015 was $7,078 and $7,078, respectively. Accrued interest related to CEVC convertible note was $96,852 and $30,133, as of September 30, 2016 and December 31, 2015, respectively.</div></div></div> <div><div><div><div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">NOTE 9 &#8211; SEGMENT REPORTING</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">Operating Segments</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif">In accordance with ASC 280, the Company has identified three reportable segments through the entities of Jonway Auto, ZAP (Consumer Product) and ZAP Hong Kong. The Jonway Auto segment represents sales of the gas fueled Jonway Auto A380 three and five-door sports utility vehicles, EV minivan and EV SUVs and spare parts principally through distributors in China. The ZAP Consumer Product segment represents rechargeable portable energy products, the Company&#8217;s Zapino scooter, and the Company&#8217;s ZAPPY3 personal transporters. These segments are strategic business units that offer different services. They are managed separately because each business requires different resources and strategies. The Company&#8217;s chief operating decision making group, which is comprised of the CEOs and the senior executives of each of ZAP&#8217;s strategic segments, regularly evaluate the financial information about these segments in deciding how to allocate resources and in assessing performance.</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif">The performance of each segment is measured based on its profit or loss from operations before income taxes. Segment results are summarized as follows (in thousands):</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <table id="z64d3df4832e74d8689d958016edcef0b" cellspacing="0" cellpadding="0" align="center" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> </td> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">Jonway</div> <div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">Auto</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">ZAP</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">ZAP</div> <div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">Hong Kong</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">Total</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">For the three months ended September 30, 2016</div> </td> <td style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160; Net sales</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">3,279</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">7</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">3,286</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160; &#160;Gross profit (loss)</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(380</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">1</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(379</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160;&#160;Depreciation and amortization</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">684</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">1,264</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">1,948</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160; Net loss</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(2,185</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(1,132</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(3,317</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160; &#160;Total assets</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">56,008</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">12,785</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">68,793</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">For the three months ended September 30, 2015</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160; Net sales</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">7,089</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">65</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">7,154</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160; &#160;Gross profit (loss)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(189</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(5</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(194</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160;&#160;Depreciation and amortization</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">1,363</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">653</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">2,016</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160; Net loss</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(2,235</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(1,479</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(3,714</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160; &#160;Total assets</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">63,904</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">17,742</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">9</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">81,655</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td colspan="4" nowrap="nowrap" style="background-color: #cceeff; vertical-align: bottom; vertical-align: bottom"> <div></div> <div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">For the nine months ended September 30, 2016</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160; Net sales</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">9,623</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">16</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">9,639</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160; &#160;Gross profit (loss)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(1,040</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">3</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(1,037</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160;&#160;Depreciation and amortization</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">3,910</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">1,915</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">5,825</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160; Net loss</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(6,598</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(3,485</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(10,083</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160; &#160;Total assets</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">56,008</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">12,785</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">68,793</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td colspan="4" nowrap="nowrap" style="background-color: #ffffff; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">For the nine months ended September 30, 2015</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160; Net sales</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">20,606</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">266</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">20,872</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160; &#160;Gross profit (loss)</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(1,054</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">77</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(977</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160;&#160;Depreciation and amortization</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">4,253</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">1,961</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">6,214</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160; Net loss</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(9,529</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(4,338</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(13,867</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160; &#160;Total assets</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">63,904</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">17,742</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">9</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">81,655</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; clear: both">&#160;</div> <div>&#160;</div> <div style="text-align: left; font: italic bold 10pt Times New Roman, Times, serif; text-indent: 36pt">Customer information</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif">Approximately 99.8% or $3.3 million of the Company&#8217;s revenues for the three months ended September 30, 2016 are from sales in China.&#160;&#160;Jonway Auto distributes its products to an established network of over 70 factory level dealers in China with two customers contributing 44% and 45% of the Company&#8217;s consolidated revenue during the three months ended September 30, 2016. Approximately 99.1% or $7.1 million of the Company&#8217;s revenues for the three months ended September 30, 2015 are from sales in China. Jonway Auto distributes its products to an established network of over 63 factory level dealers in China with three customers contributing 14%, 12% and 10% of the Company&#8217;s consolidated revenue during the three months ended September 30, 2015.</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif">Approximately 99.8% or $9.6 million of the Company&#8217;s revenue for the nine months ended September 30, 2016 are from sales in China. Jonway Auto distributes its products to an established network of over 70 factory level dealers in China with three customer contributing 14%, 15% and 16% of the Company&#8217;s consolidated revenue during the nine months ended September 30, 2016. Approximately 98.7% or $20.6 million of the Company&#8217;s revenue for the nine months ended September 30, 2015 are from sales in China. Jonway Auto distributed its product to an established network of over 65 factory level dealers in China with one customer contributing approximately 18% of the Company&#8217;s consolidated revenue during the nine months ended September 30, 2015.</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="text-align: left; font: italic bold 10pt Times New Roman, Times, serif; text-indent: 36pt">Supplier information</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif">For the three months ended September 30, 2016 and 2015, approximately 99.8% or $3.7 million and 99.0% or $7.3 million of the consolidated cost of goods sold were purchased in China. For the three months ended September 30, 2016, one vendor contributed 29.2% of the Company&#8217;s purchases.&#160; For the three months ended September 30, 2015, three venders accounted for 22.6%, 11.9% and 10.1% of the total purchases. For the nine months ended September 30, 2016 and 2015, approximately 99.90% or $10.7 million and 99.1% or $21.7 million of the consolidated cost of goods sold were purchased in China. For the nine months ended September 30, 2016, two vendors accounted for 11.3% and 11.0% of the total purchases, respectively. For the nine months ended September 30, 2015, one vendor contributed to over 11.9% of the Company&#8217;s purchases.</div></div></div></div> <div><div><div><div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">NOTE 10 &#8211; RELATED PARTY TRANSACTIONS</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="text-align: left; text-indent: 36pt; font: bold 10pt Times New Roman, Times, serif; color: #000000">Due from (to) related parties</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: left; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Amounts due from related parties are principally for advances in the normal course of business for parts and suppliers used in manufacturing.</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: left; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Amounts due from related parties are as follows (in thousands):</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <table id="ze86668cc36ad4e9ca0ddad774e4c220e" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 90%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31, </div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Sanmen Branch of Zhejiang UFO Automobile</div> <div style="text-align: left; text-indent: -9pt; font: 10pt Times New Roman, Times, serif; color: #000000; margin-left: 18pt">Manufacturing Co., Ltd</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">998</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Shanghai Zapple</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">123</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Jonway Economy and Trade Co., Ltd.</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">616</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #ffffff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: right; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">124</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,614</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> <div style="clear: both"><br /> </div> <div style="text-align: left; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">In addition, accounts receivable included in accounts receivable due from related parties as follows (in thousands):</div> <div><br /> </div> <table id="z68c8947aa8dd4b33bafc5df5365d10aa" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 90%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31, </div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; text-indent: -9pt; font: 10pt Times New Roman, Times, serif; color: #000000; margin-left: 18pt">Jonway EV selling Ltd.</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">3,317</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">4,659</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; text-indent: -9pt; font: 10pt Times New Roman, Times, serif; color: #000000; margin-left: 18pt">Sanmen Branch of Zhejiang UFO Automobile Manufacturing Co., Ltd</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,054</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">212</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; text-indent: -9pt; font: 10pt Times New Roman, Times, serif; color: #000000; margin-left: 18pt">Jonway Motorcycle</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">405</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">301</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #ffffff; width: 76%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">4,776</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">5,172</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> <div style="clear: both"><br /> </div> <div style="text-align: left; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Amounts due to related parties are follows (in thousands):</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <table id="z8281b7ba5b134b4687c70f86375df6a5" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 90%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td nowrap="nowrap" style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31, </div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; text-indent: -9pt; font: 10pt Times New Roman, Times, serif; color: #000000; margin-left: 9pt">Jonway Group</div> </td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">11,413</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">12,606</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Jonway Motor Cycle</div> </td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">64</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">64</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Taizhou Huadu</div> </td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">846</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Shanghai Zapple</div> </td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">35</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Mr. Alex Wang, the CEO</div> </td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">4</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">74</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Mr. Huaiyi Wang</div> </td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">14</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Betterworld</div> </td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">149</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">149</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Zhejiang Jonway Painting Co., Ltd.</div> </td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">11</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Cathaya Operations Management Ltd.</div> </td> <td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">127</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">193</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #ffffff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: right; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="text-align: right; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">11,771</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">13,978</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> <div style="clear: both">&#160;</div> <div style="text-align: left; text-indent: 36pt; font: bold 10pt Times New Roman, Times, serif">Transactions with Jonway Group</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif">Jonway Group is considered as a related party as the Wang Family, one of the principal shareholders of the Company, has controlling interests in Jonway Group. Jonway Group supplies some of plastics spare parts to Jonway Auto and gave guarantees on Jonway Auto short term bank facilities from China-based banks. Jonway Auto made such purchases from Jonway Group for a total of $260,000 and $1,666,000 for the nine months ended September 30, 2016 and 2015, respectively. Jonway Auto made such purchases from Jonway Group for a total of $111,000 and $362,000 for the three months ended September 30, 2016 and 2015, respectively.</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="text-align: left; text-indent: 36pt; font: bold 10pt Times New Roman, Times, serif">Jonway Auto Agreement with Zhejiang UFO</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif">Based on a contract by and among the Zhejiang UFO, Jonway Group and Jonway Auto dated as of January 1, 2006, Zhejiang UFO has authorized Jonway Auto to operate its Sanmen Branch to assemble and sell UFO branded SUVs for a period of 10 years starting from January 1, 2006. The agreement has not been officially renewed, but all involved parties are still following the original terms stated in the contract.</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="text-align: left; text-indent: 36pt; font: 10pt Times New Roman, Times, serif">According to the contract, Jonway Auto shall pay Zhejiang UFO a variable contractual fee which is calculated based on the number of SUVs that Jonway Auto assembles in the Sanmen Branch every year, at the following rates (historical exchange rate):</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <table id="zea77efe403f74f038ec71a7628161061" border="0" cellspacing="0" cellpadding="0" align="left" style="width: 40%; font: 10pt Times New Roman, Times, serif; margin-left: 54pt"> <tr> <td style="background-color: #cceeff; vertical-align: middle"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">The first 3,000 vehicles</div> </td> <td style="background-color: #cceeff; vertical-align: middle"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">$44 per vehicle</div> </td> </tr> <tr> <td style="background-color: #ffffff; vertical-align: middle"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Vehicles from 3,001 to 5,000</div> </td> <td style="background-color: #ffffff; vertical-align: middle"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">$30 per vehicle</div> </td> </tr> <tr> <td style="background-color: #cceeff; vertical-align: middle"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Vehicles over 5,000</div> </td> <td style="background-color: #cceeff; vertical-align: middle"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">$22 per vehicle</div> </td> </tr> </table> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; clear: both">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Zhejiang UFO is considered a related party because the Wang Family, who are shareholders of Jonway Auto, has certain non-controlling equity interests in Zhejiang UFO.&#160; For the nine months ended September 30, 2016 and 2015, $22,000 and $Nil were recorded as assembling fees, respectively.&#160; For the three months ended September 30, 2016 and 2015, $Nil and $Nil were recorded as assembling fees, respectively.</div> <div><br /> </div> <div><br /> </div> <div style="background-color: #ffffff"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;<font style="font: bold 10pt Times New Roman, Times, serif">Other Related Party Transactions</font></div> <div><br /> </div> </div> <div style="text-align: justify; background-color: #ffffff; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">For the nine months ended September 30, 2016, Jonway Auto purchased parts in amount of $468,000 and $260,000 from Taizhou Huadu and Jonway Group, respectively. For the nine months ended September 30, 2015, Jonway Auto purchased $Nil and $1,299,000 spare parts from Taizhou Huadu and Jonway Group, respectively.</div></div></div></div> <div><div><div><div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">NOTE 11 - SHAREHOLDERS&#8217; EQUITY</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="text-align: left; font: bold 10pt Times New Roman, Times, serif; color: #000000">Common stock</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: left; text-indent: 36pt; font: bold 10pt Times New Roman, Times, serif; color: #000000">2016 ISSUANCES</div> <div><br /> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">In August 2016, the amount of $443,630 due to Cathaya Management Co Ltd, a related party, has been converted into 8,872,602 shares of common stock at price of $0.05. In addition, China Electric Vehicle Corporation (CEVC), a related party, has elected to convert the interest of $1,246,410 due on the $20.7 million convertible note to 18,399,316 shares of ZAP&#8217;s common stock at the average share price of related interest period (see Note 8). The Company also issued 200,000 shares of common stock to the CFO in August 2016.</div> <div><br /> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">The Company planned to issue an aggregated of 9,994,038 shares of the Company&#8217;s common stock to settle certain existing debts of $476,561 in accordance with the Board approval in July 2016, which including the amount of $412,448 due to CEVC, a related party, to be converted into 8,711,779 shares of common stock at price of $0.047, and the amount of $64,113 due to a debt holder to be converted into 1,282,259 shares of common stock at price of $0.05. These shares have not been issued as of the reporting date.</div> <div><br /> </div> <div style="text-align: left; text-indent: 36pt; font: bold 10pt Times New Roman, Times, serif; color: #000000">2015 ISSUANCES</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">On February 11, 2015, the cancellation of 1,182,558 shares of common stock was processed to pay back the proceeds from convertible notes, and a partial repayment representing a principal reduction of $100,000 and $8,433 of interest was paid on the Company&#8217;s outstanding convertible bond held by Yung. For the year ended December 31, 2015, the Company repurchased 4,811,633 shares of common stock at cost of $406,872 from Yung and cancelled those shares. The balance of the outstanding note issued to Korea Yung was $133,116 after the payment and cancellation of these shares. Yung was allowed to engage in open market sales of the shares through December 31, 2015. In the event the gross proceeds realized from the sale of the shares by Yung was greater than the principal and interest due on the bond as of the maturity date, Yung would have been entitled to retain all proceeds. If the proceeds from the sale of shares are less than the principal and interest due on the bond as of the maturity date, ZAP would pay the shortfall to Yung in cash within five business days of written notice from Yung.</div> <div style="text-align: justify"><br /> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">In September 2015, the Company issued 89,194,715 shares to Mr. Alex Wang, the Chief Executive Officer of the Company for his investment of $5,351,683 in the Company (approximately $4.5 million investment was loan by the Company to its subsidiary Jonway Auto).</div> <div><br /> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">In September 2015, the amount of $814,863 investment from Cathaya Management Co Ltd, a related party, and $350,000 due to Cathaya Management Co Ltd have been converted into 13,581,051 and 5,833,333 shares of common stock at price of $0.06, respectively.</div> <div><br /> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">In September 2015, China Electric Vehicle Corporation (CEVC), a related party, has elected to convert the interest of $1,237,345 due on the $20.7 million convertible note to 14,454,743 shares of common stock at the average price of $0.086.</div> <div><br /> </div> <div><br /> </div> <div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">Stock-based Compensation</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif">The Company has stock compensation plans for employees and directors. The Company recognizes the stock-based compensation expense over the requisite service period of the individual grantees, which generally equals the vesting period. All of the stock-based compensation is accounted for as an equity instrument.</div> <div><br /> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif">In June 2015, the Company granted 200,000 restricted shares to Michael Ringstad in lieu of salary compensation and also for his acceptance for the position of Interim CFO. The stock was set at average of last 30 trading days, and the vesting period is for a period of 3 years from the date of grant. Michael Ringstad cannot sell the shares within nine months from the date of grant and the Company retains the right to buy back the shares at any time at the market price.</div> <div><br /> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif">For the three and nine months ended September 30, 2016, $18,000 and $54,000 was recorded as stock-based compensation expense, respectively. For the three and nine months ended September 30, 2015, $18,000 and $55,000 was recorded as stock-based compensation expense, respectively.</div></div></div></div> <div><div><div><div style="text-align: left; font: bold 10pt Times New Roman, Times, serif; color: #000000">NOTE 12 &#8211; LITIGATION</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">ZAP is in arrears with the settlement payment to Hogan &#38; Lovells. The current negotiated balance due is $779,500.&#160; Hogan &#38; Lovells agreed to reduce the total amount owed by $453,827, as long as the Company does not default on its payment agreement. If Hogan &#38; Lovells does seek a judgment, the total balance due immediately would be $1,233,327, recorded by the Company in its books and records. Currently ZAP is seeking additional funding, and is working with prospective investors or lenders so ZAP can resume the installment payments to Hogan &#38; Lovells. As of September 30, 2016 and December 31, 2015, the Company accrued approximately $1.2 million for this litigation.</div></div></div></div> <div><div><div><div style="text-align: left; font: bold 10pt Times New Roman, Times, serif; color: #000000">NOTE 13 &#8211; COMMITMENTS AND CONTINGENCIES</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: left; font: bold 10pt Times New Roman, Times, serif; color: #000000">Guarantees</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Jonway Auto guaranteed certain financial obligations of outside third parties including suppliers and customers to support the Company&#8217;s business and economic growth. Guarantees will terminate on payment and/or cancellation of the obligation once it is repaid. A payment by the Company would be triggered by failure of the guaranteed party to fulfill its obligation covered by the guarantee. Maximum potential payments under guarantees total $2.2 million at September 30, 2016 (December 31, 2015 - $2.3 million). The guarantee expires at variance dates from November, 2016 to December 2019. The Company&#8217;s performance risk under these guarantees is reviewed regularly, and has resulted in no changes to its initial valuations.</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Jonway Auto pledged a land use right and a building to Shanghai Pu Dong Development Bank to secure a bank loan of $1.0 million offered to a related company, Taizhou Jonway Jing Mao Trading Ltd., which is a subsidiary of Jonway Group. The period of guarantee is five years from 2014 to 2019. The net value of the land use right and the building pledged as at September 30, 2016 and December 31, 2015 were $0.5 million and $0.5 million, respectively.</div></div></div></div> <table id="z0b384f8fd266414a933dce458ee5a1e8" cellspacing="0" cellpadding="0" align="center" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000"><u>September 30, 2016</u></div> </td> <td style="vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000"><u>September 30,</u></div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000"><u>2015</u></div> </td> <td style="vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000"><u>December 31, 2015</u></div> </td> </tr> <tr> <td style="vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="vertical-align: top">&#160;</td> <td style="vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;&#160;&#160;</div> </td> </tr> <tr> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Balance sheet items, except for share capital, additional</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;&#160;paid in capital and retained earnings</div> </td> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">$ 1=RMB 6.6702&#160;</div> </td> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">$ 1=RMB6.3638</div> </td> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;$1=RMB6.4917</div> </td> </tr> <tr> <td style="background-color: #ffffff; vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="background-color: #ffffff; vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="background-color: #ffffff; vertical-align: top">&#160;</td> <td style="background-color: #ffffff; vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;&#160;&#160;</div> </td> </tr> <tr> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Amounts included in the statements of operations</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;&#160;and cash flows</div> </td> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">$ 1=RMB 6.5802</div> </td> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">$ 1=RMB6.1735</div> </td> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">$1=RMB 6.2288</div> </td> </tr> </table> <table id="zc6fdbde8bb4346fcaa34e8054037ab1a" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 80%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Accounts receivable &#8211; third parties</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">2,256</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">2,274</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Accounts receivable &#8211; related parties</div> </td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">4,776</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">5,172</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">7,032</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">7,446</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Less &#8211; Allowance for doubtful accounts</div> </td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(1,936</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(1,531</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Total account receivable, net</div> </td> <td style="padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">5,096</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">5,915</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> <table id="zec31fc14ebd045b58f84c375777643d0" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 80%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Balance, beginning of period</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,531</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">439</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Write-off</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(76</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Current provision</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">405</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,168</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Balance, end of period</div> </td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,936</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,531</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> <table id="z7aab3671ef0042f5a40f2d21cb9ae97b" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 80%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Work in Process</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">2,025</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">2,237</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Parts and supplies</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">4,020</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">3,616</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Finished goods</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">2,117</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">3,186</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">8,162</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">9,039</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Less - inventory reserve</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(1,290</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(1,296</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Inventories, net</div> </td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">6,872</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">7,743</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> <table id="ze752813219eb4acb94e8f30fdd50d094" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 80%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Balance, beginning of period</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,296</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,380</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Current provision (recovery) for Jonway Auto</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">19</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(132</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Current provision (recovery) for inventory ZAP, net</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(25</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">48</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Balance, end of period</div> </td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,290</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,296</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td></tr></table> <table id="z3af888f3b061450c8219806db37ea04d" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 80%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Better World Products - related party</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">2,160</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">2,160</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Jonway Products</div> </td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">14,400</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">14,400</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">16,560</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">16,560</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Less: amortization</div> </td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(10,681</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(9,601</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">5,879</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">6,959</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> <table id="z3415c783d4fa49a9a1325a85892cbeac" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 60%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 82%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000"><u>12 months ended September 30,</u></div> </td> <td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 82%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">2017</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 15%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,440</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 82%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">2018</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 15%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,440</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 82%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">2019</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 15%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,440</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 82%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">2020</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 15%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,440</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 82%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Thereafter</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 15%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">119</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #ffffff; width: 82%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Total</div> </td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 15%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">5,879</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td></tr></table> <table id="z52c66fbf856c458caf5c2610524c605a" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 80%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;</div> </td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31, 2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Loan from CITIC bank</div> </td> <td style="background-color: #cceeff; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">(a)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">5,547</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">3,081</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Loan from ICBC</div> </td> <td style="background-color: #ffffff; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">(b)</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">4,498</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">4,621</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 64%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #ffffff; width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;</div> </td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">10,045</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">7,702</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td></tr></table> <table id="zf429bcec0f0a4885952dbad56f53ea29" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 80%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;&#160;&#160;</div> </td> <td nowrap="nowrap" style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31, 2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Bank acceptance notes payable to China Everbright Bank</div> </td> <td style="background-color: #cceeff; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">(a)</div> </td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">5,997</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">7,086</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Bank acceptance notes payable to CITIC Bank</div> </td> <td style="background-color: #ffffff; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">(b)</div> </td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">3,973</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">6,428</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Bank acceptance notes payable to Shanghai Pudong Development bank</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">(c)</div> </td> <td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">852</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #ffffff; width: 64%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 6%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;&#160;&#160;</div> </td> <td style="text-align: right; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">9,970</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">14,366</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> <table id="z13b78f8f1f544214a002ad5df8a82993" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 80%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td colspan="3" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="3" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Senior convertible debt &#8211; CEVC (a)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">20,679</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">20,679</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #ffffff; width: 70%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Convertible debt &#8211; Mr. Luo Hua Liang (b)</div> </td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">786</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #ffffff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">786</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #cceeff; width: 70%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">21,465</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #cceeff; width: 12%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">21,465</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> <table id="z64d3df4832e74d8689d958016edcef0b" cellspacing="0" cellpadding="0" align="center" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> </td> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">Jonway</div> <div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">Auto</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">ZAP</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">ZAP</div> <div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">Hong Kong</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: bold 10pt Times New Roman, Times, serif">Total</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">For the three months ended September 30, 2016</div> </td> <td style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160; Net sales</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">3,279</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">7</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">3,286</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160; &#160;Gross profit (loss)</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(380</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">1</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(379</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160;&#160;Depreciation and amortization</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">684</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">1,264</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">1,948</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160; Net loss</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(2,185</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(1,132</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(3,317</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160; &#160;Total assets</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">56,008</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">12,785</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">68,793</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">For the three months ended September 30, 2015</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160; Net sales</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">7,089</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">65</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">7,154</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160; &#160;Gross profit (loss)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(189</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(5</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(194</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160;&#160;Depreciation and amortization</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">1,363</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">653</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">2,016</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160; Net loss</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(2,235</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(1,479</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(3,714</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160; &#160;Total assets</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">63,904</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">17,742</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">9</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">81,655</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td colspan="4" nowrap="nowrap" style="background-color: #cceeff; vertical-align: bottom; vertical-align: bottom"> <div></div> <div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">For the nine months ended September 30, 2016</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160; Net sales</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">9,623</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">16</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">9,639</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160; &#160;Gross profit (loss)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(1,040</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">3</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(1,037</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160;&#160;Depreciation and amortization</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">3,910</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">1,915</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">5,825</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160; Net loss</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(6,598</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(3,485</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(10,083</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160; &#160;Total assets</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">56,008</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">12,785</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">68,793</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td colspan="4" nowrap="nowrap" style="background-color: #ffffff; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">For the nine months ended September 30, 2015</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160; Net sales</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">20,606</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">266</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">20,872</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160; &#160;Gross profit (loss)</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(1,054</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">77</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(977</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160;&#160;Depreciation and amortization</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">4,253</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">1,961</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">6,214</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160; Net loss</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(9,529</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(4,338</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">(13,867</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">)</div> </td> </tr> <tr> <td style="background-color: #cceeff; width: 52%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;&#160; &#160;Total assets</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">63,904</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">17,742</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">9</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif">81,655</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> <div><div><div><div style="text-align: left; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Amounts due from related parties are as follows (in thousands):</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <table id="ze86668cc36ad4e9ca0ddad774e4c220e" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 90%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31, </div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Sanmen Branch of Zhejiang UFO Automobile</div> <div style="text-align: left; text-indent: -9pt; font: 10pt Times New Roman, Times, serif; color: #000000; margin-left: 18pt">Manufacturing Co., Ltd</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">998</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Shanghai Zapple</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">123</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Jonway Economy and Trade Co., Ltd.</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">616</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #ffffff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: right; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">124</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,614</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> <div style="clear: both"><br /> </div> <div style="text-align: left; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">In addition, accounts receivable included in accounts receivable due from related parties as follows (in thousands):</div> <div><br /> </div> <table id="z68c8947aa8dd4b33bafc5df5365d10aa" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 90%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31, </div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; text-indent: -9pt; font: 10pt Times New Roman, Times, serif; color: #000000; margin-left: 18pt">Jonway EV selling Ltd.</div> </td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">3,317</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">4,659</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; text-indent: -9pt; font: 10pt Times New Roman, Times, serif; color: #000000; margin-left: 18pt">Sanmen Branch of Zhejiang UFO Automobile Manufacturing Co., Ltd</div> </td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,054</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">212</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; text-indent: -9pt; font: 10pt Times New Roman, Times, serif; color: #000000; margin-left: 18pt">Jonway Motorcycle</div> </td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">405</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">301</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #ffffff; width: 76%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">4,776</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">5,172</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> <div style="clear: both"><br /> </div> <div style="text-align: left; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Amounts due to related parties are follows (in thousands):</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <table id="z8281b7ba5b134b4687c70f86375df6a5" border="0" cellspacing="0" cellpadding="0" align="center" style="width: 90%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td nowrap="nowrap" style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">September 30,</div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="border-bottom: #000000 2px solid; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">December 31, </div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">2015</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom">&#160;</td> <td nowrap="nowrap" style="text-align: left; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; text-indent: -9pt; font: 10pt Times New Roman, Times, serif; color: #000000; margin-left: 9pt">Jonway Group</div> </td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">11,413</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">12,606</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Jonway Motor Cycle</div> </td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">64</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">64</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Taizhou Huadu</div> </td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">846</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Shanghai Zapple</div> </td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">35</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Mr. Alex Wang, the CEO</div> </td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">4</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">74</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Mr. Huaiyi Wang</div> </td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">14</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #cceeff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Betterworld</div> </td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">149</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">149</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="background-color: #ffffff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Zhejiang Jonway Painting Co., Ltd.</div> </td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">11</div> </td> <td nowrap="nowrap" style="text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 2px; background-color: #cceeff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Cathaya Operations Management Ltd.</div> </td> <td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">127</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: left; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 2px solid; text-align: right; background-color: #cceeff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">193</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 2px; background-color: #cceeff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> <tr> <td style="padding-bottom: 4px; background-color: #ffffff; width: 76%; vertical-align: bottom; vertical-align: bottom"> <div style="text-align: right; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="text-align: right; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">11,771</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="text-align: right; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> <td style="border-bottom: #000000 4px double; text-align: left; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="border-bottom: #000000 4px double; text-align: right; background-color: #ffffff; width: 9%; vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">13,978</div> </td> <td nowrap="nowrap" style="text-align: left; padding-bottom: 4px; background-color: #ffffff; width: 1%; vertical-align: bottom; vertical-align: bottom">&#160;</td> </tr> </table> </div></div></div> <table id="zea77efe403f74f038ec71a7628161061" border="0" cellspacing="0" cellpadding="0" align="left" style="width: 40%; font: 10pt Times New Roman, Times, serif; margin-left: 54pt"> <tr> <td style="background-color: #cceeff; vertical-align: middle"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">The first 3,000 vehicles</div> </td> <td style="background-color: #cceeff; vertical-align: middle"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">$44 per vehicle</div> </td> </tr> <tr> <td style="background-color: #ffffff; vertical-align: middle"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Vehicles from 3,001 to 5,000</div> </td> <td style="background-color: #ffffff; vertical-align: middle"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">$30 per vehicle</div> </td> </tr> <tr> <td style="background-color: #cceeff; vertical-align: middle"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">Vehicles over 5,000</div> </td> <td style="background-color: #cceeff; vertical-align: middle"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">$22 per vehicle</div> </td> </tr> </table> 8872602 <div><div style="text-align: left; font: bold 10pt Times New Roman, Times, serif">Basis of Presentation and Consolidation</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif"> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">The accompanying unaudited condensed consolidated financial statements include the financial statements of ZAP, and its subsidiaries, and are prepared in accordance with United States (&#8220;U.S.&#8221;) generally accepted accounting principles (&#8220;GAAP&#8221;) for interim financial information pursuant to the rules and regulations of the Securities and Exchange Commission (&#8220;SEC&#8221;). Management considers subsidiaries to be companies that are over 50% controlled. Significant intercompany transactions and balances are eliminated in consolidation; profits from intercompany sales, are also eliminated; non-controlling interests are included in equity.&#160;&#160;The Company accounts for its 37.5% interest in the ZAP Hangzhou and its 50% interest in Shanghai Zapple using the equity method of accounting because it has significant influence but not control. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the financial statements have been included. Interim results are not necessarily indicative of results to be expected for the full year. The information included in this Form 10-Q should be read in conjunction with information included in the 2015 annual report on Form 10-K filed on April 14, 2016.</div></div></div> <div><div style="text-align: justify; font: bold 10pt Times New Roman, Times, serif; color: #000000">Use of Estimates</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. The more significant estimates relate to revenue recognition, contractual allowances and uncollectible accounts, intangible assets, accrued liabilities, stock based compensation, litigation and contingencies. Estimates are based on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances, the results of which form the basis for judgments about results and the carrying values of assets and liabilities. Actual results and values may differ significantly from these estimates.</div></div> <div><div style="text-align: left; font: bold 10pt Times New Roman, Times, serif; color: #000000">Revenue Recognition</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">The Company records revenues for non-Jonway Auto sales when all of the following criteria have been met:</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify"> <table id="zf90073dc571248a190b6ab06f62b92e6" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">-</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">&#160;Persuasive evidence of an arrangement exists. The Company generally relies upon sales contracts or agreements, and customer purchase orders to determine the existence of an arrangement.</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify"> <table id="z443a29d6596a44938f5956cb162ab0c2" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">-</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">Sales price is fixed or determinable. The Company assesses whether the sales price is fixed or determinable based on the payment terms and whether the sales price is subject to refund or adjustment.&#160;</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify"> <table id="zbe9658b8d74a439fb4784d77228f35dc" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">-</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">Delivery has occurred. The Company uses shipping terms and related documents, or written evidence of customer acceptance, when applicable, to verify delivery or performance. The Company&#8217;s customary shipping terms are FOB shipping point.</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify"> <table id="z260b2e2470da429c99996483428b4ec9" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">-</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">Collectability is reasonably assured.&#160;&#160;The Company assesses collectability based on creditworthiness of customers as determined by the Company&#8217;s credit checks and their payment histories. The Company records accounts receivable net of allowance for doubtful accounts and estimated customer returns.</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;The Company records revenues for Jonway Auto sales only upon the occurrence of all of the following&#160;conditions:</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify"> <table id="z167f431e7ce641cc99dd5156c8f5992e" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">-</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">The Company has received a binding purchase order from the customer or distributor authorized by a representative empowered to commit the purchaser (evidence of a sale);</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify"> <table id="zf190097fd13442aea9051cc8f382530a" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">-</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">The purchase price has been fixed, based on the terms of the purchase order;</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify"> <table id="z0342467c6448486ea9fc8ceb10b8a4ab" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">-</td> <td style="text-align: justify; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">The Company has delivered the product from its factory to a common carrier acceptable to the customer; and</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: left"> <table id="zef1705610549475c98ecf1752a822ea5" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt"></td> <td style="width: 18pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">-</td> <td style="text-align: left; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">The Company deems the collection of the amount invoiced probable.</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">The Company provides no price protection. Sales are recognized net of sale discounts, rebates and return allowances.</div></div> <div><div style="background-color: #ffffff"><div style="text-align: left; font: bold 10pt Times New Roman, Times, serif; color: #000000">Fair Value of Financial Instruments</div> <div><br /> </div> </div> <div style="text-align: justify; background-color: #ffffff; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Accounting Standards Update (&#8220;ASU&#8221;) 820, &#8220;Fair Value Measurements&#8221; and Accounting Standards Codification (&#8220;ASC&#8221;) 825, Financial Instruments, requires an entity to use observable inputs and minimize the use of unobservable inputs when measuring fair value. It establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used fair value. A financial instrument&#8217;s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. It prioritizes the inputs into three levels that may be used to measure fair value:</div> <div style="background-color: #ffffff"><br /> </div> <div style="text-align: left"> <table id="zb143619539b24bf2be85e5a73c9bfa6a" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt; font: 10pt Times New Roman, Times, serif; vertical-align: top">Level 1:</td> <td style="text-align: left; width: auto; font: 10pt Times New Roman, Times, serif; vertical-align: top">Observable inputs such as quoted prices in active markets;</td> </tr> </table> </div> <div style="background-color: #ffffff"><br /> </div> <div style="text-align: left"> <table id="za8622ce364ab401985aeee41ad0ffbcb" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt; font: 10pt Times New Roman, Times, serif; vertical-align: top">Level 2:</td> <td style="text-align: left; width: auto; font: 10pt Times New Roman, Times, serif; vertical-align: top">Inputs other than quoted prices that are observable for the asset or liability in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.</td> </tr> </table> </div> <div style="background-color: #ffffff"><br /> </div> <div style="text-align: left"> <table id="z1a898cef7fe14fa2a69820ecb46b5e45" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 36pt; font: 10pt Times New Roman, Times, serif; vertical-align: top">Level 3:</td> <td style="text-align: left; width: auto; font: 10pt Times New Roman, Times, serif; vertical-align: top">Unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions and&#160;methodologies that result in management&#8217;s best estimate of fair value.</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif"><font style="font: 10pt Times New Roman, Times, serif; color: #000000">The carrying value of current assets and liabilities approximate their fair values because of the short-term nature of these instruments. </font>The carrying value of the senior convertible debt (see Note 8), which approximates fair value, is influenced by interest rates and the Company&#8217;s stock price, and is determined by prices for the convertible debts observed in market trading, which are Level 2 inputs.</div></div> <div><div></div> <div style="text-align: justify; font: bold 10pt Times New Roman, Times, serif; color: #000000">Foreign Currency Translation</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">The Company and its wholly owned subsidiary/investments, maintain their accounting records in United States Dollars (&#8220;US$&#8221;) whereas Jonway Auto maintains its accounting records in the currency of Renminbi (&#8220;RMB&#8221;), being the primary currency of the economic environment in which their operations are conducted.</div> <div><br /> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">Jonway Auto&#8217;s principal country of operations is the PRC. The financial position and results of the Company&#8217;s operations are determined using RMB, the local currency, as the functional currency.&#160;&#160;The results of operations and the statement of cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period.&#160;&#160;Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date.&#160;&#160;The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital contribution.&#160;&#160;Due to the fact that cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the balance sheet.&#160;&#160;Translation adjustments arising from the use of different exchange rates from period to period are included as a component of stockholder&#8217;s equity as &#8220;Accumulated Other Comprehensive Income.&#8221;</div> <div><br /> </div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">The value of RMB against US$ and other currencies may fluctuate and is affected by, among other things, changes in China&#8217;s political and economic conditions, any significant revaluation of RMB may materially affect the Company&#8217;s financial condition in terms of US$ reporting.&#160;&#160;The following table outlines the currency exchange rates that were used in creating the unaudited condensed consolidated financial statements in this report:</div> <div style="text-align: left; font: 10pt Times New Roman, Times, serif">&#160;</div> <div>&#160;</div> <table id="z0b384f8fd266414a933dce458ee5a1e8" cellspacing="0" cellpadding="0" align="center" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000"><u>September 30, 2016</u></div> </td> <td style="vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000"><u>September 30,</u></div> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000"><u>2015</u></div> </td> <td style="vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000"><u>December 31, 2015</u></div> </td> </tr> <tr> <td style="vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="vertical-align: top">&#160;</td> <td style="vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;&#160;&#160;</div> </td> </tr> <tr> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Balance sheet items, except for share capital, additional</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;&#160;paid in capital and retained earnings</div> </td> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">$ 1=RMB 6.6702&#160;</div> </td> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">$ 1=RMB6.3638</div> </td> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;$1=RMB6.4917</div> </td> </tr> <tr> <td style="background-color: #ffffff; vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="background-color: #ffffff; vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> </td> <td style="background-color: #ffffff; vertical-align: top">&#160;</td> <td style="background-color: #ffffff; vertical-align: top"> <div style="text-align: left; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;&#160;&#160;</div> </td> </tr> <tr> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">Amounts included in the statements of operations</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;&#160;&#160;and cash flows</div> </td> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">$ 1=RMB 6.5802</div> </td> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">$ 1=RMB6.1735</div> </td> <td style="background-color: #cceeff; vertical-align: top"> <div style="text-align: center; font: 10pt Times New Roman, Times, serif; color: #000000">$1=RMB 6.2288</div> </td> </tr> </table></div> <div><div style="text-align: justify; font: bold 10pt Times New Roman, Times, serif; color: #000000">Recent Accounting Pronouncements</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">In August 2016, the FASB issued ASU No. 2016 15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, to provide guidance <font style="background-color: #ffffff; font: 10pt Times New Roman, Times, serif">on the presentation and classification of certain cash receipts and cash payments on the statement of cash flows. The guidance specifically addresses cash flow issues with the objective of reducing the diversity in practice. The guidance will be effective for the Company in fiscal year 2018, but early adoption is permitted. The Company is currently evaluating the impact of this new standard on its unaudited condensed consolidated financial statements and related disclosures.</font></div> <div>&#160;</div> <div style="text-align: justify; background-color: #ffffff; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">In October 2016, the FASB issued ASU No. 2016 16, Income Taxes (Topic 740): Intra - Entity Transfers of Assets Other Than Inventory. The amendments require an entity to recognize income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs and remove the exception to postpone recognition until the asset has been sold to an outside party. The amendments are effective for public business entities for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual reporting periods. For all other entities, the amendments are effective for annual reporting periods beginning after December 15, 2018, and interim reporting periods within annual reporting periods beginning after December 15, 2019. Early adoption is permitted. The Company is currently evaluating the impact of this new standard on its unaudited condensed consolidated financial statements and related disclosures.</div> <div>&#160;</div> <div style="text-align: justify; background-color: #ffffff; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">In October 2016, the FASB issued ASU No. 2016-17, Consolidation (Topic 810): Interest Held through Related Parties That Are under Common Control, to provide guidance on the evaluation of whether a reporting entity is the primary beneficiary of a VIE by amending how a reporting entity, that is a single decision maker of a VIE, treats indirect interests in that entity held through related parties that are under common control. The amendments are effective for public business entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact of this new standard on its unaudited condensed consolidated financial statements and related disclosures.</div></div> 3 779500 453827 1233327 1200000 1200000 9994038 8711779 1282259 476561 412448 64113 810000 800000 8433 200000 5351683 4500000 89194715 350000 814863 443630 5833333 13581051 8872602 1246000 1237345 18399316 14454743 14454743 18399316 5833333 0.06 0.06 0.086 0.05 1182558 1182558 4811633 100000 406872 100000 133116 4435 200000 P30D P3Y P6M 55000 54000 18000 18000 1246410 20000000 0.50 19000000 20700000 0.003743 5000000 5000000 416981 1242929 416981 1237345 22437 68199 7078 7078 829429 833961 96852 30133 5134000 4745000 1080000 1080000 -76000 25000 23000 -377000 -218000 -15000 -99000 -650000 366000 244000 -21000 -1467000 48000 3953000 615000 -1102000 417000 -348000 348000 -442000 1530000 -1985000 -235000 376000 -3214000 -1185000 307000 235000 23000 102000 -284000 -133000 1122000 1040000 100000 407000 6167000 1690000 14238000 17203000 2268000 6687000 786000 14478000 21270000 6242000 3981000 3354000 1369000 -4000 -3000 -148000 48000 60000 108000 238000 90000 444000 1237000 350000 <div><div style="text-align: justify; font: bold 10pt Times New Roman, Times, serif; color: #000000">NOTE 2 &#8211; LIQUIDITY AND CAPITAL RESOURCES</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">As of September 30, 2016, the Company&#8217;s current liabilities exceeded the current assets by approximately $70.9 million and its equity deficiency was $23.0 million, which raise substantial doubt about the Company&#8217;s ability to continue as a going concern. In addition, the Company has recurring net losses. Given the Company&#8217;s expected capital expenditure in the foreseeable future, the Company has comprehensively considered its available sources of funds as follows:</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: left"> <table id="z04b992469cb44ae28d10c56099e1bf20" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 21pt"></td> <td style="width: 27pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">&#183;</td> <td style="text-align: left; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">Financial support and credit guarantee from related parties; and</td> </tr> </table> </div> <div style="text-align: left"> <table id="zc9f24526e124481db6f26a4f1c1e7649" class="DSPFListTable" cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, serif"> <tr> <td style="width: 21pt"></td> <td style="width: 27pt; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">&#183;</td> <td style="text-align: left; width: auto; font: 10pt Times New Roman, Times, serif; color: #000000; vertical-align: top">Other available sources of financing from domestic banks and other financial institutions given its credit history.</td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify; background-color: #ffffff; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">The Company does not currently have sufficient cash or commitments for financing to sustain its operations for the next twelve months. The Company plans to substantially increase its cash flows from operations and revenue derived from its products. If the Company&#8217;s revenues do not reach the level anticipated in its plan and the Company may not be able to obtain the necessary additional capital on a timely basis, on acceptable terms, or at all, the Company may be unable to implement its current plans for expansion, repay its debt obligations or respond to competitive pressures, any of which would have a material adverse effect on its business, prospects, financial condition and results of operations. The accompanying unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.&#160;</div> <div style="text-align: justify; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">In assessing the Company&#8217;s liquidity, the Company monitors and analyzes its cash on-hand, and its operating and capital expenditure commitments.&#160;&#160;The Company&#8217;s principal liquidity needs are to meet its working capital requirements, operating expenses and capital expenditure obligations.</div> <div>&#160;</div> <div style="text-align: left; background-color: #ffffff; text-indent: 9pt; font: 10pt Times New Roman, Times, serif; color: #000000"><font style="font: 10pt Times New Roman, Times, serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="background-color: #ffffff; font: 10pt Times New Roman, Times, serif">Jonway Auto intends to utilize its existing credit lines (see Note 7) to expand its electric vehicle business as well as other future vehicle models.&#160;&#160;This includes on-going working capital needs, electric vehicle production equipment requirements, testing, homologation and new EV product molds. Also the Company&#8217;s principal shareholder, Jonway Group, has agreed to provide the necessary support to meet the Company&#8217;s financial obligations through September 30, 2017 in the event that the Company requires additional liquidity. In addition, China Electric Vehicle Corporation (&#8220;CEVC&#8221;) has renewed the convertible note with an extension through December 31, 2016 (see Note 8).&#160; The Company does not intend to extend the term of this CEVC convertible note when it matures on December 31, 2016, and will most likely repay CEVC with Jonway Auto shares as per the terms and condition originally stipulated in the Convertible Note agreement.&#160; With the conversion of the CEVC Convertible Note, </font>the additional equity investment into Jonway Auto would reduce ZAP&#8217;s majority equity ownership in Jonway Auto. As a result, the qualification for ZAP to consolidate Jonway Auto would have to be reassessed based on ZAP&#8217;s financial control, board and management control of Jonway Auto.</div> <div style="text-align: left; background-color: #ffffff; font: 10pt Times New Roman, Times, serif; color: #000000">&#160;</div> <div style="background-color: #ffffff"> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">The Company will require additional capital to expand its current operations.&#160;&#160;In particular, the Company requires additional capital to continue development of its electric vehicle business, to continue strengthening its dealer network and after-sale service centers and expanding its market initiatives.&#160;&#160;The Company also requires financing the investment for the continued roll-out of new products and to add qualified sales and professional staff to execute on its business plan and pursue its efforts in the research and development of advanced technology vehicles, such as the new ZAP Alias, the electric and other fuel efficient vehicles.</div> <div><br /> </div> <div style="text-align: justify; text-indent: 36pt; font: 10pt Times New Roman, Times, serif; color: #000000">The Company intends to fund its short and long term liquidity needs related to operations through the incurrence of indebtedness, equity financing or a combination of both.&#160;&#160;The Company&#8217;s ability to fund these needs will depend on its future performance, which will be subject in part to general economic, financial, regulatory and other factors beyond its control, including trends in its industry and technological developments.</div></div></div> Notes payable to China Everbright bank have various maturity dates in December 2016. The notes payable are guaranteed by a land use right and a building with a total carrying value of $2.1 million. The Company is also required to maintain cash deposits at 50% of the notes payable with the bank, in order to ensure future credit availability. Notes payable to CITIC bank will be due in March 2017. The Company is required to maintain cash deposits at 100% of the notes payable with the bank, in order to ensure future credit availability. Notes payable to Shanghai Pudong Development Bank was due in January and May 2016. The Company was required to maintain cash deposits at 100% of the notes payable with the bank. The note payable was fully repaid upon due date. In October 2015, Jonway Auto borrowed a half year short-term loan of $3.1 million at annual interest rate of 5.9%. The loan was repaid upon maturity in April 2016. On March 25, 2016, Jonway Auto entered into a one year loan of $0.5 million at annual interest rate of 6.0%. The loan is due on March 25, 2017. On April 13, 2016, Jonway Auto entered into a one year loan of $1.5 million at an annual interest rate of 6.0%. The loan is due on April 13, 2017. On April 14, 2016, Jonway Auto entered into a one year loan of $1.4 million at annual interest rate of 6.0%. The loan is due on April 14, 2017. On April 26, 2016, Jonway Auto further entered into a one year loan of $2.1 million at annual interest rate of 6.0%. The loan is due on April 26, 2017. All loans are secured by a Maximum Amount Mortgage Contract between Jonway Auto and CITIC dated November 3, 2014, in which a land use right and a building with a total carrying amount of $5.0 million as of September 30, 2016 has been pledged as security for these loans. The shareholder and the CEO also personally guaranteed these loans. In March 2015, the Company entered into a one year short-term loan of $0.8 million from ICBC at an annual interest of 5.4% and fully repaid the loan upon maturity in March 2016. In June 2015, the Company entered into a one year short-term loan of $0.3 million from ICBC at an annual interest rate of 5.92% and fully repaid the loan upon maturity in June 2016. In July 2015, the Company entered into a one year short-term loan of $1.1 million from ICBC at an annual interest rate of 6.7% and fully repaid the loan upon maturity in July 2016. In October 2015, the Company entered into a one year short-term loan of $1.3 million at an annual interest of 6.4%. In November 2015, the Company entered into a one year short-term loan of $1.1 million at an annual interest rate of 6.1%. On June 8, 2016, the Company entered into a one year short-term loan of $0.3 million at an annual interest rate of 5.0%. On June 22, 2016, the Company entered into a one year short-term loan of $0.7 million at an annual interest rate of 4.4%. On July 22, 2016, the Company entered into a one year short-term loan of $1.1 million at an annual interest rate of 5%. EX-101.SCH 6 zaap-20160930.xsd XBRL TAXONOMY EXTENSION SCHEMA 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS link:presentationLink link:calculationLink link:definitionLink 00000006 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000007 - Disclosure - ORGANIZATION AND BASIS OF PRESENTATION link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - LIQUIDITY AND CAPITAL RESOURCES link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - SIGNIFICANT ACCOUNTING POLICIES link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - ACCOUNTS RECEIVABLE link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - INVENTORIES, NET link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - DISTRIBUTION AGREEMENTS link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - CONVERTIBLE DEBT link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - SEGMENT REPORTING link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - RELATED PARTY TRANSACTIONS link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - SHAREHOLDERS' EQUITY link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - LITIGATION link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - COMMITMENTS AND CONTINGENCIES link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - SUBSEQUENT EVENTS link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - SIGNIFICANT ACCOUNTING POLICIES (Policies) link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - SIGNIFICANT ACCOUNTING POLICIES (Tables) link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - ACCOUNTS RECEIVABLE (Tables) link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - INVENTORIES, NET (Tables) link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - DISTRIBUTION AGREEMENTS (Tables) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES (Tables) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - CONVERTIBLE DEBT (Tables) link:presentationLink link:calculationLink link:definitionLink 00000028 - Disclosure - SEGMENT REPORTING (Tables) link:presentationLink link:calculationLink link:definitionLink 00000029 - Disclosure - RELATED PARTY TRANSACTIONS (Tables) link:presentationLink link:calculationLink link:definitionLink 00000030 - Disclosure - SHAREHOLDERS' EQUITY (Tables) link:presentationLink link:calculationLink link:definitionLink 00000031 - Disclosure - ORGANIZATION AND BASIS OF PRESENTATION (Basis Of Presentation) (Details) link:presentationLink link:calculationLink link:definitionLink 00000032 - Disclosure - LIQUIDITY AND CAPITAL RESOURCES (Details) link:presentationLink link:calculationLink link:definitionLink 00000033 - Disclosure - SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 00000034 - Disclosure - ACCOUNTS RECEIVABLE (Schedule Of Accounts Receivable) (Details) link:presentationLink link:calculationLink link:definitionLink 00000035 - Disclosure - ACCOUNTS RECEIVABLE (Schedule Of Changes In Allowance For Doubtful Accounts) (Details) link:presentationLink link:calculationLink link:definitionLink 00000036 - Disclosure - INVENTORIES, NET (Schedule of Inventories) (Details) link:presentationLink link:calculationLink link:definitionLink 00000037 - Disclosure - INVENTORIES, NET (Schedule of Inventory Reserve) (Details) link:presentationLink link:calculationLink link:definitionLink 00000038 - Disclosure - DISTRIBUTION AGREEMENTS (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 00000039 - Disclosure - DISTRIBUTION AGREEMENTS (Schedule of Distribution Agreements) (Details) link:presentationLink link:calculationLink link:definitionLink 00000040 - Disclosure - DISTRIBUTION AGREEMENTS (Schedule of Future Amortization Expense) (Details) link:presentationLink link:calculationLink link:definitionLink 00000041 - Disclosure - SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES (Line of Credit) (Details) link:presentationLink link:calculationLink link:definitionLink 00000042 - Disclosure - SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES (Schedule of Short-Term Debt) (Details) link:presentationLink link:calculationLink link:definitionLink 00000043 - Disclosure - SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES (Schedule of Bank Acceptance Notes) (Details) link:presentationLink link:calculationLink link:definitionLink 00000044 - Disclosure - CONVERTIBLE DEBT (Schedule of Convertible Debt) (Details) link:presentationLink link:calculationLink link:definitionLink 00000045 - Disclosure - CONVERTIBLE DEBT (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 00000046 - Disclosure - SEGMENT REPORTING (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 00000047 - Disclosure - SEGMENT REPORTING (Schedule of Segment Results) (Details) link:presentationLink link:calculationLink link:definitionLink 00000048 - Disclosure - RELATED PARTY TRANSACTIONS (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 00000049 - Disclosure - RELATED PARTY TRANSACTIONS (Schedule of Related Party Balances) (Details) link:presentationLink link:calculationLink link:definitionLink 00000050 - Disclosure - RELATED PARTY TRANSACTIONS (Schedule of Contract Fees) (Details) link:presentationLink link:calculationLink link:definitionLink 00000051 - Disclosure - SHAREHOLDERS' EQUITY (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 00000052 - Disclosure - LITIGATION (Details) link:presentationLink link:calculationLink link:definitionLink 00000053 - Disclosure - COMMITMENTS AND CONTINGENCIES (Details) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 7 zaap-20160930_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 8 zaap-20160930_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 9 zaap-20160930_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE China Everbright Bank [Member] Lender Name [Axis] CITIC Bank [Member] ICBC [Member] Minimum [Member] Range [Axis] Maximum [Member] Zap Hangzhou [Member] Equity Method Investee, Name [Axis] Better World [Member] Distribution Agreements, By Companies [Axis] Jonway Products [Member] Distribution Agreements [Member] Finite-Lived Intangible Assets by Major Class [Axis] Debt Instrument Lender Name [Axis] Notes Payable to Banks [Member] Short-term Debt, Type [Axis] Shanghai Pudong Development Bank [Member] Jonway Auto [Member] Legal Entity [Axis] Taizhou Jonway Jing Mao Trading Ltd [Member] Related Party [Axis] Korea Yung [Member] Convertible Debt [Member] Mr. Wang Gang [Member] Title of Individual [Axis] Cathaya Management Ltd [Member] Cathaya Operations [Member] CEVC [Member] Zhejiang Jonway Painting Co., Ltd. [Member] Sanmen Branch [Member] Jonway Group [Member] Jonway Motor Cycle [Member] Shanghai Zapple [Member] Mr Alex Wang [Member] First 3,000 Vehicles [Member] Products and Services [Axis] Vehicles 3,001 to 5,000 [Member] Over 5,000 Vehicles [Member] Spare Parts [Member] Related Party Transaction [Axis] Taizhou Huadu [Member] ZAP [Member] Business Segments [Axis] ZAP Hong Kong [Member] Jonway Auto [Member] Geographic Concentration Risk [Member] Concentration Risk Type [Axis] Revenue [Member] Concentration Risk Benchmark [Axis] Convertible Notes Payable [Member] Luo Hua Liang [Member] Long-term Debt, Type [Axis] Mr Huaiyi Wang [Member] Cost of Goods Sold [Member] Supplier Concentration Risk [Member] Vendor One [Member] Counterparty Name [Axis] Customer Concentration Risk [Member] Customer One [Member] Customer [Axis] Jonway Economy and Trade Co Ltd [Member] Jonway EV Selling Ltd [Member] Michael Ringstad [Member] Restricted shares [Member] Award Type [Axis] Cathaya Management Co Ltd [Member] CFO [Member] CEVC [Member] Debt holder [Member] Customer Two [Member] Customer Three [Member] CEVC convertible note [Member] Vendor Two [Member] Vendor Three [Member] Document and Entity Information [Abstract] Document Type Amendment Flag Document Period End Date Document Fiscal Period Focus Document Fiscal Year Focus Entity Registrant Name Entity Central Index Key Current Fiscal Year End Date Entity Filer Category Entity Well-known Seasoned Issuer Entity Voluntary Filers Entity Current Reporting Status Entity Common Stock, Shares Outstanding Entity Public Float Statement of Financial Position [Abstract] ASSETS Current assets: Cash and cash equivalents Restricted cash Notes receivable Accounts receivable, net Inventories, net Prepaid taxes Due from related parties Prepaid expenses and other current assets Total current assets Restricted Notes receivable Property, plant and equipment, net Land use rights, net Other assets: Distribution fees, net Intangible assets, net Goodwill Due from related parties Deposits and other assets Total other assets Total assets LIABILITIES AND DEFICIENCY Current liabilities: Short term loans Convertible Bond Accounts payable Senior convertible debt Accrued liabilities Notes payable Advances from customers Taxes payable Due to related parties Other payables Total current liabilities Long term liabilities: Senior convertible debt Due to related parties Accrued liabilities and others Total long term liabilities Convertible Bond Total liabilities Commitments and contingencies Deficiency Common stock, no par value; 800 million shares authorized; 605,937,077 and 578,465,159 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively Accumulated other comprehensive income Accumulated deficit Total ZAP shareholders' deficiency Non-controlling interest Total deficiency Total liabilities and deficiency Common stock, par value Common stock, shares authorized Common stock, shares issued Common stock, shares outstanding Income Statement [Abstract] Net sales Cost of goods sold Gross loss Operating expenses: Sales and marketing General and administrative Research and development Impairment loss on assets Total operating expenses Recall Expenses Loss from operations Other income (expense): Interest expense, net Loss from equity in joint venture Other income Total other expense, net Loss on sale of marketable securities Loss before income taxes Income tax expense Net loss Less: loss attributable to non-controlling interest Net loss attributable to ZAP's common shareholders Net loss Other comprehensive income (loss) Foreign currency translation adjustments Total comprehensive loss Less: Comprehensive loss attributable to non-controlling interest Comprehensive loss attributable to ZAP's common shareholders Net loss per share attributable to common shareholders: Basic and diluted Weighted average number of common shares outstanding: Basic and diluted Statement of Cash Flows [Abstract] CASH FLOWS FROM OPERATING ACTIVITIES Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation expense Depreciation and amortization Amortization of distribution agreement Provision for doubtful accounts Changes in inventory reserve Gain from disposal of equipment Changes in assets and liabilities: Accounts receivable Notes receivable Inventories Prepaid expenses and other assets Due from related parties Accounts payable Accrued liabilities Taxes payable Advances from customers Due to related parties Other payables Other Receivables Advances to suppliers Due from intercompany's Net cash used in operating activities CASH FLOWS FROM INVESTING ACTIVITIES Acquisition of property and equipment Proceeds from disposal of equipment Comprehensive income Net cash used in investing activities Proceeds from sales of marketable securities CASH FLOWS FROM FINANCING ACTIVITIES Change in restricted cash Repayment of convertible bonds Repurchase of common stock Proceeds from issuance of common stock Proceeds from notes payable Proceeds from short term loans Proceeds of convertible bonds Proceeds from equity investment Repayments of notes payable Repayments of short term loans Net cash provided by financing activities Repayments to related parties Effect of exchange rate changes on cash and cash equivalents NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS, beginning of period CASH AND CASH EQUIVALENTS, end of period Supplemental disclosure of cash flow information: Cash paid during period for interest Cash paid during period for income taxes Non-cash transaction: Issued 8,872,602 shares of common stock to Cathaya Management Co. Ltd to settle payable Issued 18,399,316 shares of common stock to CEVC to settle interest payable Cancellation of 1,182,558 shares of common stock issued to pay convertible bond Issued 14,454,743 shares of common stock to pay interest payable Issued 5,833,333 shares of common stock to pay outstanding management fee Shares issued to settle payable Stock issued to pay interest payable, shares Shares cancelled Share issued to pay interest payable Shares of common stock issued to pay management fee Organization, Consolidation and Presentation of Financial Statements [Abstract] ORGANIZATION AND BASIS OF PRESENTATION LIQUIDITY AND CAPITAL RESOURCES [Abstract] LIQUIDITY AND CAPITAL RESOURCES Accounting Policies [Abstract] SIGNIFICANT ACCOUNTING POLICIES Accounts Receivable, Net [Abstract] ACCOUNTS RECEIVABLE Inventory Disclosure [Abstract] INVENTORIES, NET DISTRIBUTION AGREEMENTS [Abstract] DISTRIBUTION AGREEMENTS Debt Disclosure [Abstract] SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES Convertible Debt [Abstract] CONVERTIBLE DEBT Segment Reporting [Abstract] SEGMENT REPORTING Related Party Transactions [Abstract] RELATED PARTY TRANSACTIONS Stockholders' Equity Note [Abstract] SHAREHOLDERS' EQUITY Loss Contingency, Information about Litigation Matters [Abstract] LITIGATION Commitments and Contingencies Disclosure [Abstract] COMMITMENTS AND CONTINGENCIES Subsequent Events [Abstract] SUBSEQUENT EVENTS Basis of Presentation and Consolidation Use of Estimates Revenue Recognition Fair Value of Financial Instruments Impairment of Long-lived Assets Fair Value of Financial Instruments Foreign Currency Translation Recent Accounting Pronouncements Concentration of Credit Risk Stock-based compensation Income Taxes Loss per Share Cash and cash equivalents Marketable equity securities Accounts Receivable and Notes Receivable Derivative Financial Instruments Inventories Property and equipment Land use Rights Long-lived Assets Intangible Assets-Finite Goodwill and Intangible Assets-Indefinite Non-Controlling Interests Product warranty costs Comprehensive loss Risks and Uncertainties Reclassification Schedule of Foreign Currency Exchange Balance Schedule of accounts receivable Schedule of changes in allowance for doubtful accounts Schedule of Inventories Schedule of Inventory Reserve Schedule of Distribution Agreements Schedule of Estimated Future Amortization Expense Related to Agreements Schedule of Short-Term Debt Schedule of Bank Acceptance Notes Convertible Debt Tables Schedule of convertible debt Segment Reporting Tables Schedule of Segment Results Schedule of Amount Due To/From Related Parties Schedule of Contract Rates Schedule of Warrants Outstanding Schedule of Organization and Basis of Presentation [Table] Organization and Basis of Presentation [Line Items] Percentage ownership in Jonway Current liabilities exceeded current assets Equity Deficiency Statement [Table] Statement [Line Items] Investment, Name [Axis] Currency exchange rate Average currency exchange rate Equity Method Investment, Ownership Percentage Excess deposits amount over insurance provided Accounts receivable - third parties Accounts receivable - related parties Account receivable, gross Less - Allowance for doubtful accounts Total account receivable, net Balance, beginning of period Write-off Current provision Balance, end of period Work in Process Parts and supplies Finished goods Inventories Less - inventory reserve Inventories, net Balance, beginning of period Current provision (recovery) for Jonway Auto Current provision (recovery) for inventory ZAP, net Balance, end of period Distribution Agreements [Table] Distribution Agreements [Line Items] Depreciation and amortization Common stock issued in relation to distribution agreement for CNG products (in shares) Value of common stock issued in relation to distribution agreement for CNG products Distribution agreements Less: amortization and impairment Distribution agreements, net Schedule of Finite-Lived Intangible Assets [Table] Finite-Lived Intangible Assets [Line Items] Estimated future amortization expense: 2017 2018 2019 2020 2020 Thereafter Total 2020 Line of Credit Facility [Table] Line of Credit Facility [Line Items] Maximum borrowing capacity Credit exposure Amount outstanding Interest rate Notes payable Restricted cash deposit Unused line of credit Collateral amount Required cash deposit Schedule of Short-term Debt [Table] Short-term Debt [Line Items] Short term loans Face amount Term Debt Instrument, Maturity Date Weighted average interest rate Short-term Debt, Weighted Average Interest Rate Bank acceptance notes payable Number of notes payable Beginning maturity date Ending maturity date Restricted cash deposit Maturity date Senior convertible debt - CEVC Convertible debt - Mr. Luo Hua Liang Convertible debt Schedule of Long-term Debt Instruments [Table] Debt Instrument [Line Items] Shares called by warrant Exercise price Accrued interest payable Amount outstanding Conversion ratio Number of shares Beneficial conversion feature Equity component Investment immediately deposit within one week of signing of the agreement Investment deposit within one month of signing of the agreement Debt Instrument, Convertible, Conversion Price Interest expense Accrued interest Concentration Risk [Table] Concentration Risk [Line Items] Concentration risk percentage Revenues Number of reportable segments Schedule of Segment Reporting Information, by Segment [Table] Segment Reporting Information [Line Items] Segments [Axis] Gross profit (loss) Total assets Schedule of Related Party Transactions, by Related Party [Table] Related Party Transaction [Line Items] Transaction amount Interest rate Purchases Expenses Revenue Period to operate branch to assemble and sell branded products Taizhou Jonway [Member] Amount due from related party Accounts receivable included in accounts receivable due from related parties Accounts receivable due from related parties Amount due to related party Number of vehicles assembled Contractual fee per vehicle Schedule of Share-based Goods and Nonemployee Services Transaction [Table] Share-based Goods and Nonemployee Services Transaction [Line Items] Shares issued to settlement of debt Shares issued to settlement of debt, value Debt conversion price Interest paid Value of shares issued Shares issued Stock issued for due to related parties Stock issued for due to related parties, shares Amount due to related parties Due to related parties converted into shares of common stock Stock issued to settle the cash advance, shares Stock issued to settle the cash advance Conversion of debt, percentage below market price Stock issued to pay interest Convertible notes payable Due to related parties converted into shares of common stock Stock issued for asset acquisition Shares issued for asset acquisition, shares Stock issued for addressing a lawsuit Stock issued for addressing a lawsuit, shares Common stock to be issued, shares Proceeds from issuance of common stocks Share price (in dollars per share) Value of shares cancelled Repayment of principal amount Repayment of interest amount Outstanding shares issued Granted, shares Number of trading days Vesting period Lock in period Amount charged to general and administrative expense Stock based compensation Outstanding interest LITIGATION [Abstract] Settlement payment Reduction in settlement payment Damages would be sought Price of vehicles sold Accrued litigation amount Payment for settlement Schedule of Guarantor Obligations [Table] Guarantor Obligations [Line Items] Potential payments under guarantee Period of guarantee Represents the amount of receivables arising from transactions with third parties due within one year or the normal operating cycle, if longer. Sum of the carrying amounts as of the balance sheet date of all assets (excluding property, plant and equipment net and land use right) that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Better World [Member] Represents the excess amount of deposit in form of cash and cash equivalents over insurance provided. Represents information pertaining to the Cathaya Management Ltd. Cathaya Operations Management Limited Member. Amount of changes in inventory reserve. China Electric Vehicle Corporation Member China Everbright Bank [Member] CITIC Bank [Member] Contractual Fee Per Vehicle Represents information pertaining to customer one. Debt conversion market price difference, percentage. Represents the amount of investment deposit within one month of signing of the agreement. Represents the amount of investment immediately deposit within one week of signing of the agreement. Information by name of lender, which may be a single entity (for example, but not limited to, a bank, pension fund, venture capital firm) or a group of entities that participate in various debt instruments. Identification of the lender, which may be a single entity (for example, a bank, pension fund, venture capital firm) or a group of entities that participate in various debt instruments. The current period expense charged against earnings (excluding amortization of distribution agreement) on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Less: amortization and impairment. Distribution Agreements, By Companies [Axis] Distribution Agreements, By Companies [Domain] Distribution Agreements, Gross Distribution Agreements [Line Items] Distribution Agreements [Member] Distribution Agreements [Table] Distribution Agreements [Text Block] Distribution fees. Represents the amount of equity deficiency. Represents the Lock in period of equity instrument other than option. Represents the excess amount of current liabilities over the current assets. The First 3,000 Vehicles [Member] Foreign exchange rate used to translate amounts denominated in functional currency to reporting currency. Goldenstone Worldwide [Member] Represents the term of the guarantee or each group of similar guarantees. Industrial And Commercial Bank Of China [Member] Intangible Assets, Finite-Lived, Land Use Rights, Policy [Policy Text Block] Inventory provision related to non-controlling interests. Inventory recovery for the controlling entity during the period, net of noncontrolling interest. Jonway Auto [Member] Represents information pertaining to the Jonway EV selling Ltd. Represents information pertaining to the Jonway Economy and Trade Co., Ltd. Jonway Group [Member] Jonway Motor Cycle [Member] Represents information pertaining to Korea Yung, one of the note holders. Amount of land use rights, net. Amount of reduction in judgment or settlement awarded to (against) the entity in respect of litigation. Represents information pertaining to Mr. Luo Hua Liang. Represents information pertaining to Mr. Alex Wang. Represents information pertaining to Mr. Huaiyi Wang. Non-Controlling Interests [Policy Text Block] The number of notes payable under the debt instrument. Represents the number of trading days considered to calculate closing stock. Number of Number Of Vehicles Assembled Number Of Vehicles Assembled Organization And Basis Of Presentation [LineItems] Period to operate the sanmen branch to assemble and sell UFO branded SUV. The price of each vehicle sold. Cash deposit requried to issue certain debt, stated as a percentage of the debt amount. Accounting policy regarding operations risks and uncertainties due to political, economic and legal environment. Sanmen Branch Of Zhejiang UFO Automobile [Member] Tabular disclosure of the changes in allowance for doubtful accounts. Schedule Of Bank Acceptance Notes [Table Text Block] Schedule Of Distribution Agreements [Table Text Block] Tabular disclosure of the estimated amortization expense for distribution agreements subject to amortization. Information pertaining to organization and basis of presentation. Schedule Of Related Party Contract Fees [Table Text Block] Represents information pertaining to Shanghai PuDong Development Bank. Shanghai Zapple [Member] Shares to be issued Spare Parts [Member] Stock issued during period to pay outstanding balance due to related parties, shares Stock issued during period to pay interest payable, shares. Number of stock issued during period to pay interest payable, two. Represents the number of stock issued during period to settle the cash advance. Stock issued during period to pay outstanding balance due to related parties. Stock issued during period to pay interest payable, value. Represents the amount of stock issued during period to settle the cash advance. Taizhou Huadu [Member] Represents information pertaining to Taizhou Jonway Jing Mao Trading Ltd. Vehicles From 3,001 To 5,000 [Member] Vehicles Over 5,000 [Member] Vendor One [Member] Represents information pertaining to Wang Gang, the Co-Chief Executive Officer ("Co-CEO") and Jonway Group. ZAP [Member] ZAP Hangzhou [Member] Zap Hong Kong [Member] Represents information pertaining to Zhejiang Jonway Painting Co. Ltd. Taizhou Jonway [Member] Value of stock issued during period to pay interest payable, two. CFO [Member] Cevc [Member] Debtholder [Member] Customer Two [Member] Customer Three [Member] Cevc convertible note [Member] Vendor Two [Member] Vendor Three [Member] Outstanding interest. Stock issued during period to pay settlement payable, value. Shares issued to settle payable. Shares issued to settlement of debt. Jonway Auto [Member] [Default Label] CevcMember Assets, Current Assets Noncurrent Excluding Property Plant and Equipment Net and Land Use Right Liabilities, Current Convertible Debt, Noncurrent Due to Related Parties, Noncurrent Liabilities, Noncurrent Convertible Subordinated Debt, Noncurrent Liabilities Stockholders' Equity Attributable to Parent Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest Liabilities and Equity Cost of Goods Sold Impairment of Long-Lived Assets Held-for-use Operating Costs and Expenses Operating Income (Loss) Interest Expense Nonoperating Income (Expense) Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest Income Tax Expense (Benefit) Net Income (Loss) Attributable to Noncontrolling Interest Net Income (Loss) Attributable to Parent Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest Comprehensive Income (Loss), Net of Tax, Attributable to Parent Weighted Average Number of Shares Outstanding, Basic and Diluted Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property Increase (Decrease) in Accounts Receivable Increase (Decrease) in Notes Receivable, Current Increase (Decrease) in Inventories Increase (Decrease) in Prepaid Expense and Other Assets Increase (Decrease) in Due from Related Parties, Current Increase (Decrease) in Accounts Payable Increase (Decrease) in Accrued Liabilities Increase (Decrease) in Income Taxes Payable Increase (Decrease) in Customer Advances Increase (Decrease) in Due to Related Parties, Current Increase (Decrease) in Other Accounts Payable Increase (Decrease) in Other Receivables Increase (Decrease) in Prepaid Supplies Increase (Decrease) Due from Affiliates Net Cash Provided by (Used in) Operating Activities, Continuing Operations Payments to Acquire Property, Plant, and Equipment Payments for (Proceeds from) Other Investing Activities Net Cash Provided by (Used in) Investing Activities, Continuing Operations Repayments of Convertible Debt Payments for Repurchase of Common Stock Repayments of Notes Payable Repayments of Short-term Debt Net Cash Provided by (Used in) Financing Activities, Continuing Operations Repayments of Related Party Debt Cash and Cash Equivalents, Period Increase (Decrease) Inventory Disclosure [Text Block] Distribution Agreements [Text Block] Long-term Debt [Text Block] Commitments and Contingencies Disclosure [Text Block] Fair Value of Financial Instruments, Policy [Policy Text Block] Cash and Cash Equivalents, Policy [Policy Text Block] Accounts Receivable, Gross, Current Allowance for Doubtful Accounts Receivable, Current Allowance for Doubtful Accounts Receivable Allowance for Doubtful Accounts Receivable, Write-offs Inventory, Gross Inventory Valuation Reserves Inventory Provision Non Controlling Interest Inventory Recovery Controlling Entity Depreciation, Depletion and Amortization Distribution Agreements, Accumulated Amortization Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Five Finite-Lived Intangible Assets, Net Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months Compensating Balance, Amount Notes Payable to Bank, Current Convertible Debt Long-term Debt, Gross Related Party Transaction, Rate Debt Instrument Lender Name [Domain] Distribution Agreements, By Companies [Domain] Wang Gang And Jonway Group [Member] EX-101.PRE 10 zaap-20160930_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 11 R1.htm IDEA: XBRL DOCUMENT v3.5.0.2
Document and Entity Information - shares
 9 Months Ended
Sep. 30, 2016
Nov. 09, 2016
Document and Entity Information [Abstract]    
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Sep. 30, 2016  
Document Fiscal Period Focus Q3  
Document Fiscal Year Focus 2016  
Entity Registrant Name ZAP  
Entity Central Index Key 0001024628  
Current Fiscal Year End Date --12-31  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   605,937,077
XML 12 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 108 $ 60
Restricted cash 7,721 8,988
Accounts receivable, net 5,096 5,915
Inventories, net 6,872 7,743
Prepaid taxes 147
Prepaid expenses and other current assets 947 574
Total current assets 20,744 23,427
Property, plant and equipment, net 31,003 35,893
Land use rights, net 8,538 8,930
Other assets:    
Distribution fees, net 5,879 6,959
Intangible assets, net 2,199 2,513
Goodwill 306 314
Due from related parties 124 1,614
Total other assets 8,508 11,400
Total assets 68,793 79,650
Current liabilities:    
Short term loans 10,045 7,702
Accounts payable 24,871 21,486
Senior convertible debt 21,465 21,465
Accrued liabilities 2,994 4,000
Notes payable 9,970 14,366
Advances from customers 6,757 7,391
Taxes payable 1,251 1,638
Due to related parties 11,771 13,978
Other payables 2,532 2,256
Total current liabilities 91,656 94,282
Long term liabilities:    
Accrued liabilities and others 148 152
Total long term liabilities 148 152
Total liabilities 91,804 94,434
Commitments and contingencies
Deficiency    
Common stock, no par value; 800 million shares authorized; 605,937,077 and 578,465,159 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively 253,433 251,689
Accumulated other comprehensive income 1,319 1,359
Accumulated deficit (270,994) (264,144)
Total ZAP shareholders' deficiency (16,242) (11,096)
Non-controlling interest (6,769) (3,688)
Total deficiency (23,011) (14,784)
Total liabilities and deficiency $ 68,793 $ 79,650
XML 13 R3.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares
Sep. 30, 2016
Dec. 31, 2015
Statement of Financial Position [Abstract]    
Common stock, shares authorized 800,000,000 800,000,000
Common stock, shares issued 605,937,077 578,465,159
Common stock, shares outstanding 605,937,077 578,465,159
XML 14 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Statement [Abstract]        
Net sales $ 3,286 $ 7,154 $ 9,639 $ 20,872
Cost of goods sold (3,665) (7,348) (10,676) (21,849)
Gross loss (379) (194) (1,037) (977)
Operating expenses:        
Sales and marketing 450 909 1,497 2,791
General and administrative 2,161 2,301 6,006 6,950
Research and development 84 38 252 1,721
Total operating expenses 2,695 3,248 7,755 11,462
Loss from operations (3,074) (3,442) (8,792) (12,439)
Other income (expense):        
Interest expense, net (625) (646) (1,848) (2,081)
Other income 382 374 557 653
Total other expense, net (243) (272) (1,291) (1,428)
Loss before income taxes (3,317) (3,714) (10,083) (13,867)
Income tax expense
Net loss (3,317) (3,714) (10,083) (13,867)
Less: loss attributable to non-controlling interest 1,070 1,055 3,233 4,669
Net loss attributable to ZAP's common shareholders (2,247) (2,659) (6,850) (9,198)
Net loss (3,317) (3,714) (10,083) (13,867)
Other comprehensive income (loss)        
Foreign currency translation adjustments 27 (130) 112 (1)
Total comprehensive loss (3,290) (3,844) (9,971) (13,868)
Less: Comprehensive loss attributable to non-controlling interest 1,050 1,096 3,081 4,607
Comprehensive loss attributable to ZAP's common shareholders $ (2,240) $ (2,748) $ (6,890) $ (9,261)
Net loss per share attributable to common shareholders:        
Basic and diluted $ (0.00) $ (0.01) $ (0.01) $ (0.02)
Weighted average number of common shares outstanding:        
Basic and diluted 595,658 496,392 584,238 470,777
XML 15 R5.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (10,083,000) $ (13,867,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 54,000 55,000
Depreciation and amortization 4,745,000 5,134,000
Amortization of distribution agreement 1,080,000 1,080,000
Provision for doubtful accounts 451,000 1,614,000
Changes in inventory reserve 25,000 (76,000)
Gain from disposal of equipment (23,000)
Changes in assets and liabilities:    
Accounts receivable 218,000 377,000
Notes receivable 15,000
Inventories 650,000 99,000
Prepaid expenses and other assets (244,000) (366,000)
Due from related parties 1,467,000 21,000
Accounts payable 3,953,000 48,000
Accrued liabilities (1,102,000) 615,000
Taxes payable (348,000) 417,000
Advances from customers (442,000) 348,000
Due to related parties (1,985,000) 1,530,000
Other payables 376,000 (235,000)
Net cash used in operating activities (1,185,000) (3,214,000)
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of property and equipment (235,000) (307,000)
Proceeds from disposal of equipment 102,000 23,000
Net cash used in investing activities (133,000) (284,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Change in restricted cash 1,040,000 1,122,000
Repayment of convertible bonds (100,000)
Repurchase of common stock (407,000)
Proceeds from issuance of common stock 1,690,000 6,167,000
Proceeds from notes payable 17,203,000 14,238,000
Proceeds from short term loans 6,687,000 2,268,000
Proceeds of convertible bonds 786,000
Repayments of notes payable (21,270,000) (14,478,000)
Repayments of short term loans (3,981,000) (6,242,000)
Net cash provided by financing activities 1,369,000 3,354,000
Effect of exchange rate changes on cash and cash equivalents (3,000) (4,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 48,000 (148,000)
CASH AND CASH EQUIVALENTS, beginning of period 60,000 238,000
CASH AND CASH EQUIVALENTS, end of period 108,000 90,000
Supplemental disclosure of cash flow information:    
Cash paid during period for interest 800,000 810,000
Cash paid during period for income taxes
Non-cash transaction:    
Issued 8,872,602 shares of common stock to Cathaya Management Co. Ltd to settle payable 444,000
Issued 18,399,316 shares of common stock to CEVC to settle interest payable 1,246,000
Cancellation of 1,182,558 shares of common stock issued to pay convertible bond 100,000
Issued 14,454,743 shares of common stock to pay interest payable 1,237,000
Issued 5,833,333 shares of common stock to pay outstanding management fee $ 350,000
XML 16 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)
 9 Months Ended
Sep. 30, 2016
shares
Statement of Cash Flows [Abstract]  
Shares issued to settle payable 8,872,602
Stock issued to pay interest payable, shares 18,399,316
Shares cancelled 1,182,558
Share issued to pay interest payable 14,454,743
Shares of common stock issued to pay management fee 5,833,333
XML 17 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
ORGANIZATION AND BASIS OF PRESENTATION
 9 Months Ended
Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
ORGANIZATION AND BASIS OF PRESENTATION
NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION
 
ZAP was incorporated in California in September, 1994 (together with its subsidiaries, the “Company” or “ZAP Group”).  ZAP Group markets electric, alternative energy, and fuel efficient automobiles and commercial vehicles, motorcycles and scooters, and other forms of personal transportation. The Company’s business strategy is to develop, acquire, and commercialize electric vehicles and electric vehicle power systems which the Company believes have fundamental practical and environmental advantages over available internal combustion modes of transportation and that can be produced commercially on an economically competitive basis.
 
In pursuit of a manufacturing plant and a partner with an existing product line, a distribution and customer support network in China, and experience in vehicle manufacturing, ZAP acquired a majority of the outstanding equity in Zhejiang Jonway Automobile Co., Ltd. (“Jonway Auto”). The Company believes its 51% acquisition of Jonway Auto will enable it to access the rapidly-growing Chinese market for electric vehicles (“EV”) and to expand its EV business and distribution network around the world. The Company also believes Jonway Auto’s ISO 9001 certified manufacturing facility provides the competitive production capacity and resources to support production of ZAP Group’s new line of electric SUV, minivan, and Neighborhood EV (“NEV”).
 
Jonway Auto is a limited liability company incorporated in Sanmen County, Zhejiang Province of the People’s Republic of China (the “PRC”) on April 28, 2004 by Jonway Group Co., Ltd. (“Jonway Group”). Jonway Group is under the control of three individuals, Wang Huaiyi, Alex Wang (the son of Wang Huaiyi) and Wang Xiaoying (the daughter of Wang Huaiyi and all three individuals collectively referred to as the “Wang Family”).
 
ZAP has a wholly owned subsidiary, ZAP Hong Kong, a Hong Kong limited company. ZAP Hong Kong was established in 2011 as a wholly foreign owned enterprises (“WFOE”) and has no operation since incorporated. Jonway Auto established three wholly-owned subsidiaries, namely, Taizhou Selling Co., Ltd., focusing on vehicles marketing and distribution, Taizhou Fuxing Vehicle Sale Co., Ltd., focusing on minivan marketing and distribution in China, and Taizhou Vehicle Leasing Co., Ltd., focusing on the vehicle leasing business in Taizhou.
XML 18 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
LIQUIDITY AND CAPITAL RESOURCES
 9 Months Ended
Sep. 30, 2016
LIQUIDITY AND CAPITAL RESOURCES [Abstract]  
LIQUIDITY AND CAPITAL RESOURCES
NOTE 2 – LIQUIDITY AND CAPITAL RESOURCES
 
As of September 30, 2016, the Company’s current liabilities exceeded the current assets by approximately $70.9 million and its equity deficiency was $23.0 million, which raise substantial doubt about the Company’s ability to continue as a going concern. In addition, the Company has recurring net losses. Given the Company’s expected capital expenditure in the foreseeable future, the Company has comprehensively considered its available sources of funds as follows:
 
· Financial support and credit guarantee from related parties; and
· Other available sources of financing from domestic banks and other financial institutions given its credit history.

The Company does not currently have sufficient cash or commitments for financing to sustain its operations for the next twelve months. The Company plans to substantially increase its cash flows from operations and revenue derived from its products. If the Company’s revenues do not reach the level anticipated in its plan and the Company may not be able to obtain the necessary additional capital on a timely basis, on acceptable terms, or at all, the Company may be unable to implement its current plans for expansion, repay its debt obligations or respond to competitive pressures, any of which would have a material adverse effect on its business, prospects, financial condition and results of operations. The accompanying unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. 
 
In assessing the Company’s liquidity, the Company monitors and analyzes its cash on-hand, and its operating and capital expenditure commitments.  The Company’s principal liquidity needs are to meet its working capital requirements, operating expenses and capital expenditure obligations.
 
           Jonway Auto intends to utilize its existing credit lines (see Note 7) to expand its electric vehicle business as well as other future vehicle models.  This includes on-going working capital needs, electric vehicle production equipment requirements, testing, homologation and new EV product molds. Also the Company’s principal shareholder, Jonway Group, has agreed to provide the necessary support to meet the Company’s financial obligations through September 30, 2017 in the event that the Company requires additional liquidity. In addition, China Electric Vehicle Corporation (“CEVC”) has renewed the convertible note with an extension through December 31, 2016 (see Note 8).  The Company does not intend to extend the term of this CEVC convertible note when it matures on December 31, 2016, and will most likely repay CEVC with Jonway Auto shares as per the terms and condition originally stipulated in the Convertible Note agreement.  With the conversion of the CEVC Convertible Note, the additional equity investment into Jonway Auto would reduce ZAP’s majority equity ownership in Jonway Auto. As a result, the qualification for ZAP to consolidate Jonway Auto would have to be reassessed based on ZAP’s financial control, board and management control of Jonway Auto.
 
The Company will require additional capital to expand its current operations.  In particular, the Company requires additional capital to continue development of its electric vehicle business, to continue strengthening its dealer network and after-sale service centers and expanding its market initiatives.  The Company also requires financing the investment for the continued roll-out of new products and to add qualified sales and professional staff to execute on its business plan and pursue its efforts in the research and development of advanced technology vehicles, such as the new ZAP Alias, the electric and other fuel efficient vehicles.

The Company intends to fund its short and long term liquidity needs related to operations through the incurrence of indebtedness, equity financing or a combination of both.  The Company’s ability to fund these needs will depend on its future performance, which will be subject in part to general economic, financial, regulatory and other factors beyond its control, including trends in its industry and technological developments.
XML 19 R9.htm IDEA: XBRL DOCUMENT v3.5.0.2
SIGNIFICANT ACCOUNTING POLICIES
 9 Months Ended
Sep. 30, 2016
Accounting Policies [Abstract]  
SIGNIFICANT ACCOUNTING POLICIES
NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES
 
 
Basis of Presentation and Consolidation
 
The accompanying unaudited condensed consolidated financial statements include the financial statements of ZAP, and its subsidiaries, and are prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) for interim financial information pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Management considers subsidiaries to be companies that are over 50% controlled. Significant intercompany transactions and balances are eliminated in consolidation; profits from intercompany sales, are also eliminated; non-controlling interests are included in equity.  The Company accounts for its 37.5% interest in the ZAP Hangzhou and its 50% interest in Shanghai Zapple using the equity method of accounting because it has significant influence but not control. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the financial statements have been included. Interim results are not necessarily indicative of results to be expected for the full year. The information included in this Form 10-Q should be read in conjunction with information included in the 2015 annual report on Form 10-K filed on April 14, 2016.
 
Use of Estimates
 
The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. The more significant estimates relate to revenue recognition, contractual allowances and uncollectible accounts, intangible assets, accrued liabilities, stock based compensation, litigation and contingencies. Estimates are based on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances, the results of which form the basis for judgments about results and the carrying values of assets and liabilities. Actual results and values may differ significantly from these estimates.
 
Revenue Recognition
 
The Company records revenues for non-Jonway Auto sales when all of the following criteria have been met:
 
-  Persuasive evidence of an arrangement exists. The Company generally relies upon sales contracts or agreements, and customer purchase orders to determine the existence of an arrangement.

- Sales price is fixed or determinable. The Company assesses whether the sales price is fixed or determinable based on the payment terms and whether the sales price is subject to refund or adjustment. 

- Delivery has occurred. The Company uses shipping terms and related documents, or written evidence of customer acceptance, when applicable, to verify delivery or performance. The Company’s customary shipping terms are FOB shipping point.

- Collectability is reasonably assured.  The Company assesses collectability based on creditworthiness of customers as determined by the Company’s credit checks and their payment histories. The Company records accounts receivable net of allowance for doubtful accounts and estimated customer returns.

 The Company records revenues for Jonway Auto sales only upon the occurrence of all of the following conditions:
 
- The Company has received a binding purchase order from the customer or distributor authorized by a representative empowered to commit the purchaser (evidence of a sale);

- The purchase price has been fixed, based on the terms of the purchase order;

- The Company has delivered the product from its factory to a common carrier acceptable to the customer; and

- The Company deems the collection of the amount invoiced probable.

The Company provides no price protection. Sales are recognized net of sale discounts, rebates and return allowances.
 
Fair Value of Financial Instruments

Accounting Standards Update (“ASU”) 820, “Fair Value Measurements” and Accounting Standards Codification (“ASC”) 825, Financial Instruments, requires an entity to use observable inputs and minimize the use of unobservable inputs when measuring fair value. It establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. It prioritizes the inputs into three levels that may be used to measure fair value:

Level 1: Observable inputs such as quoted prices in active markets;

Level 2: Inputs other than quoted prices that are observable for the asset or liability in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.

Level 3: Unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions and methodologies that result in management’s best estimate of fair value.

The carrying value of current assets and liabilities approximate their fair values because of the short-term nature of these instruments. The carrying value of the senior convertible debt (see Note 8), which approximates fair value, is influenced by interest rates and the Company’s stock price, and is determined by prices for the convertible debts observed in market trading, which are Level 2 inputs.

Foreign Currency Translation
 
The Company and its wholly owned subsidiary/investments, maintain their accounting records in United States Dollars (“US$”) whereas Jonway Auto maintains its accounting records in the currency of Renminbi (“RMB”), being the primary currency of the economic environment in which their operations are conducted.

Jonway Auto’s principal country of operations is the PRC. The financial position and results of the Company’s operations are determined using RMB, the local currency, as the functional currency.  The results of operations and the statement of cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period.  Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date.  The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital contribution.  Due to the fact that cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the balance sheet.  Translation adjustments arising from the use of different exchange rates from period to period are included as a component of stockholder’s equity as “Accumulated Other Comprehensive Income.”

The value of RMB against US$ and other currencies may fluctuate and is affected by, among other things, changes in China’s political and economic conditions, any significant revaluation of RMB may materially affect the Company’s financial condition in terms of US$ reporting.  The following table outlines the currency exchange rates that were used in creating the unaudited condensed consolidated financial statements in this report:
 
 
 
September 30, 2016
September 30,
2015
December 31, 2015
 
 
  
    
Balance sheet items, except for share capital, additional
   paid in capital and retained earnings
$ 1=RMB 6.6702 
$ 1=RMB6.3638
 $1=RMB6.4917
 
 
  
    
Amounts included in the statements of operations
   and cash flows
$ 1=RMB 6.5802
$ 1=RMB6.1735
$1=RMB 6.2288
 
Recent Accounting Pronouncements
 
In August 2016, the FASB issued ASU No. 2016 15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, to provide guidance on the presentation and classification of certain cash receipts and cash payments on the statement of cash flows. The guidance specifically addresses cash flow issues with the objective of reducing the diversity in practice. The guidance will be effective for the Company in fiscal year 2018, but early adoption is permitted. The Company is currently evaluating the impact of this new standard on its unaudited condensed consolidated financial statements and related disclosures.
 
In October 2016, the FASB issued ASU No. 2016 16, Income Taxes (Topic 740): Intra - Entity Transfers of Assets Other Than Inventory. The amendments require an entity to recognize income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs and remove the exception to postpone recognition until the asset has been sold to an outside party. The amendments are effective for public business entities for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual reporting periods. For all other entities, the amendments are effective for annual reporting periods beginning after December 15, 2018, and interim reporting periods within annual reporting periods beginning after December 15, 2019. Early adoption is permitted. The Company is currently evaluating the impact of this new standard on its unaudited condensed consolidated financial statements and related disclosures.
 
In October 2016, the FASB issued ASU No. 2016-17, Consolidation (Topic 810): Interest Held through Related Parties That Are under Common Control, to provide guidance on the evaluation of whether a reporting entity is the primary beneficiary of a VIE by amending how a reporting entity, that is a single decision maker of a VIE, treats indirect interests in that entity held through related parties that are under common control. The amendments are effective for public business entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact of this new standard on its unaudited condensed consolidated financial statements and related disclosures.
XML 20 R10.htm IDEA: XBRL DOCUMENT v3.5.0.2
ACCOUNTS RECEIVABLE
 9 Months Ended
Sep. 30, 2016
Accounts Receivable, Net [Abstract]  
ACCOUNTS RECEIVABLE
NOTE 4 – ACCOUNTS RECEIVABLE

Accounts receivable consisted of the following:

 
  
September 30,
2016
    
December 31,
2015
  
 
            
Accounts receivable – third parties
  
$
2,256
    
$
2,274
  
Accounts receivable – related parties
    
4,776
      
5,172
  
 
    
7,032
      
7,446
  
Less – Allowance for doubtful accounts
    
(1,936
)
    
(1,531
)
Total account receivable, net
  
$
5,096
    
$
5,915
  

Changes in the Company’s allowance for doubtful accounts as of September 30, 2016 and December 31, 2015 are as follows:
 
 
  
September 30,
2016
    
December 31,
2015
  
Balance, beginning of period
  
$
1,531
    
$
439
  
Write-off
    
-
      
(76
)
Current provision
    
405
      
1,168
  
Balance, end of period
  
$
1,936
    
$
1,531
  
XML 21 R11.htm IDEA: XBRL DOCUMENT v3.5.0.2
INVENTORIES, NET
 9 Months Ended
Sep. 30, 2016
Inventory Disclosure [Abstract]  
INVENTORIES, NET
NOTE 5 – INVENTORIES, NET
 
Inventories, net are summarized as follows:
 
 
  
September 30,
2016
    
December 31,
2015
  
 
            
Work in Process
  
$
2,025
    
$
2,237
  
Parts and supplies
    
4,020
      
3,616
  
Finished goods
    
2,117
      
3,186
  
 
    
8,162
      
9,039
  
Less - inventory reserve
    
(1,290
)
    
(1,296
)
Inventories, net
  
$
6,872
    
$
7,743
  
 
Changes in the Company’s inventory reserve as of September 30, 2016 and December 31, 2015 are as follows:
 
 
  
September 30,
2016
    
December 31,
2015
  
Balance, beginning of period
  
$
1,296
    
$
1,380
  
Current provision (recovery) for Jonway Auto
    
19
      
(132
)
Current provision (recovery) for inventory ZAP, net
    
(25
)
    
48
  
Balance, end of period
  
$
1,290
    
$
1,296
  
XML 22 R12.htm IDEA: XBRL DOCUMENT v3.5.0.2
DISTRIBUTION AGREEMENTS
 9 Months Ended
Sep. 30, 2016
DISTRIBUTION AGREEMENTS [Abstract]  
DISTRIBUTION AGREEMENTS
NOTE 6 - DISTRIBUTION AGREEMENTS
 
Distribution agreements are presented below:
 
 
  
September 30,
2016
    
December 31,
2015
  
 
            
Better World Products - related party
  
$
2,160
    
$
2,160
  
Jonway Products
    
14,400
      
14,400
  
 
    
16,560
      
16,560
  
Less: amortization
    
(10,681
)
    
(9,601
)
 
  
$
5,879
    
$
6,959
  

Amortization expenses related to these distribution agreements for the three and nine months ended September 30, 2016 and 2015 was $360,000 and $360,000, $1,080,000 and $1,080,000, respectively. Amortization is based over the term of the agreements. No impairment loss was recorded for the three and nine months ended September 30, 2016 and 2015. The estimated future amortization expense is as follows:

12 months ended September 30,
      
2017
  
$
1,440
  
2018
    
1,440
  
2019
    
1,440
  
2020
    
1,440
  
Thereafter
    
119
  
Total
  
$
5,879
  
XML 23 R13.htm IDEA: XBRL DOCUMENT v3.5.0.2
SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES
 9 Months Ended
Sep. 30, 2016
Debt Disclosure [Abstract]  
SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES
NOTE 7 – SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES
 
Short Term Debts
 
In June 2015, the Company was approved for up to an aggregate of $6.9 million of a credit line from China Everbright Bank with 50% restricted cash deposited and credit exposure of $3.5 million. The Company renewed the agreement in June 2016 and the renewed agreement expires in June 2017.  The credit line is secured by a land use right and a building with a total carrying amount of $2.1 million. Three shareholders and the Chief Executive Officer (“CEO”) also personally guaranteed on this credit line.  As of September 30, 2016, $6.0 million was drawn down as notes payable from China Everbright Bank.  The amount of restricted cash deposited with the bank was $3.0 million. As of September 30, 2016, the unused line of credit was approximately $0.45 million.
 
 In March 2014, the Company has obtained up to an aggregate of $15.0 million of credit line with the credit exposure of $5.5 million from CITIC Sanmen Branch through Jonway Auto.  The credit line was extended for one more year and expires on November 2016. The credit line is secured by land and building owned by Jonway Auto and guaranteed by the related party – Jonway Group.  The shareholder and the CEO also personally guaranteed this credit line. As of September 30, 2016, the Company borrowed aggregated $5.5 million loans with various due dates in March 25, 2017 to April 26, 2017 from CITIC Sanmen Branch. The loans carried at annual interests of 6.0%.  The Company has also drawn down $4.0 million in the form of notes payable as of September 30, 2016.  The Company deposited $4.0 million restricted cash as collateral for these notes payable. These notes are due in March 2017.  As of September 30, 2016, the line of credit has been fully utilized.
 
The Company has qualified for an aggregate of $5.0 million of a credit line from ICBC. This credit line is secured by land and buildings owned by Jonway Auto and guaranteed by related parties. The credit line expires in March 2017. As of September 30, 2016, the total outstanding loan under this credit line was $4.5 million. The annual interest rates are from 4.36% to 6.66%.  The loans are due in various dates through July 22, 2017. As of September 30, 2016, the unused line of credit was approximately $0.45 million.
 
Short term loans as of September 30, 2016 and December 31, 2015 are presented below: 

 
  
  
September 30,
2016
    
December 31, 2015
  
 
 
            
Loan from CITIC bank
(a)
  
$
5,547
    
$
3,081
  
Loan from ICBC
(b)
    
4,498
      
4,621
  
 
 
                
 
  
  
$
10,045
    
$
7,702
  
.
(a) In October 2015, Jonway Auto borrowed a half year short-term loan of $3.1 million at annual interest rate of 5.9%. The loan was repaid upon maturity in April 2016.  

On March 25, 2016, Jonway Auto entered into a one year loan of $0.5 million at annual interest rate of 6.0%. The loan is due on March 25, 2017.  On April 13, 2016, Jonway Auto entered into a one year loan of $1.5 million at an annual interest rate of 6.0%. The loan is due on April 13, 2017. On April 14, 2016, Jonway Auto entered into a one year loan of $1.4 million at annual interest rate of 6.0%. The loan is due on April 14, 2017. On April 26, 2016, Jonway Auto further entered into a one year loan of $2.1 million at annual interest rate of 6.0%. The loan is due on April 26, 2017.

All loans are secured by a Maximum Amount Mortgage Contract between Jonway Auto and CITIC dated November 3, 2014, in which a land use right and a building with a total carrying amount of $5.0 million as of September 30, 2016 has been pledged as security for these loans. The shareholder and the CEO also personally guaranteed these loans.

In March 2015, the Company entered into a one year short-term loan of $0.8 million from ICBC at an annual interest of 5.4% and fully repaid the loan upon maturity in March 2016.  In June 2015, the Company entered into a one year short-term loan of $0.3 million from ICBC at an annual interest rate of 5.92% and fully repaid the loan upon maturity in June 2016. In July 2015, the Company entered into a one year short-term loan of $1.1 million from ICBC at an annual interest rate of 6.7% and fully repaid the loan upon maturity in July 2016.  In October 2015, the Company entered into a one year short-term loan of $1.3 million at an annual interest of 6.4%. In November 2015, the Company entered into a one year short-term loan of $1.1 million at an annual interest rate of 6.1%.  On June 8, 2016, the Company entered into a one year short-term loan of $0.3 million at an annual interest rate of 5.0%.  On June 22, 2016, the Company entered into a one year short-term loan of $0.7 million at an annual interest rate of 4.4%. On July 22, 2016, the Company entered into a one year short-term loan of $1.1 million at an annual interest rate of 5%.   
 
These loans were guaranteed by related parties including Jonway Group, the shareholder, Wang Huaiyi, and the shareholder and the CEO. The Company also pledged buildings and a land use right with a carrying value of $1.4 million with ICBC.
 
The weighted average interest rates were 5.8% and 6.6% for the nine months ended September 30, 2016 and 2015, respectively.
 
Bank acceptance notes
 
 As of September 30, 2016, the Company has bank acceptance notes payable in the amount of $10.0 million. The notes are guaranteed to be paid by the banks and are usually for a short-term period of nine months. The Company is required to maintain cash deposits of 50% or 100% of the notes payable with these bank, in order to ensure future credit availability. As of September 30, 2016, the restricted cash for the notes was $7.0 million. Bank acceptance notes are presented below:
 

 
    
  
September 30,
2016
    
December 31, 2015
  
 
 
            
Bank acceptance notes payable to China Everbright Bank
(a)
  
$
5,997
    
$
7,086
  
Bank acceptance notes payable to CITIC Bank
(b)
    
3,973
      
6,428
  
Bank acceptance notes payable to Shanghai Pudong Development bank
(c)
    
-
      
852
  
 
    
  
$
9,970
    
$
14,366
  

(a) Notes payable to China Everbright bank have various maturity dates in December 2016. The notes payable are guaranteed by a land use right and a building with a total carrying value of $2.1 million. The Company is also required to maintain cash deposits at 50% of the notes payable with the bank, in order to ensure future credit availability.

(b)
Notes payable to CITIC bank will be due in March 2017.  The Company is required to maintain cash deposits at 100% of the notes payable with the bank, in order to ensure future credit availability.

(c) Notes payable to Shanghai Pudong Development Bank was due in January and May 2016. The Company was required to maintain cash deposits at 100% of the notes payable with the bank. The note payable was fully repaid upon due date.
XML 24 R14.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONVERTIBLE DEBT
 9 Months Ended
Sep. 30, 2016
Convertible Debt [Abstract]  
CONVERTIBLE DEBT
NOTE 8 - CONVERTIBLE DEBT

Convertible debts are presented below:
 
September 30,
2016
  
December 31,
2015
  
 
        
Senior convertible debt – CEVC (a)
  
$
20,679
    
$
20,679
  
Convertible debt – Mr. Luo Hua Liang (b)
    
786
      
786
  
   
$
21,465
    
$
21,465
  

(a) Senior convertible debt - CEVC

On January 12, 2011, the Company entered into a Senior Secured Convertible Note and Warrant Purchase Agreement (the “Agreement”) with China Electric Vehicle Corporation (“CEVC”), a British Virgin Island company whose sole shareholder is Cathaya Capital, L.P., and a Cayman Islands exempted limited partnership (“Cathaya”).  Priscilla Lu was the former chairwoman of the board of directors of ZAP, a managing partner of Cathaya and a director of CEVC.
 
 
Pursuant to the Agreement, (i) CEVC purchased from the Company a Senior Secured Convertible Note (the “Note”) in the principal amount of $19 million, as amended; (ii) the Company issued to CEVC a warrant (the “Warrant”) exercisable for two years for the purchase up to 20 million shares of the Company’s Common Stock at $0.50 per share, as amended;  (iii) the Company, certain investors and CEVC entered into an Amended and Restated Voting Agreement that amended and restated that certain Voting Agreement, dated as of August 6, 2009 that was previously granted to Cathaya Capital L.P.; (iv) the Company, certain investors and CEVC entered into an Amended and Restated Registration Rights Agreement that amended and restated that certain Registration Rights Agreement, dated as of August 6, 2009, that was previously granted to Cathaya Capital L.P which grants certain registration rights relating to the Note and the Warrant; and (v) the Company and CEVC entered into a Security Agreement that secures the Note with all of the Company’s assets other than those assets specifically excluded from the lien created by the Security Agreement.
 
The note is convertible upon the option of CEVC at any time, into (a) shares of Jonway Auto capital stock owned by ZAP at a conversion rate of 0.003743% of shares of Jonway Auto capital stock owned by ZAP for each $1,000 principal amount of the Note being converted; or (b) shares of ZAP common stock at a conversion rate of 4,435 shares of common stock for each $1,000 principal amount of the Note being converted.
 
This convertible note was extended until December 31, 2016 with interest accrual at 8% per annum with original maturing date of February 12, 2012. According to Accounting Standard Codification (“ASC”) 470-10, the market interest should be imputed for the non-interest bearing loan between the related parties; therefore in the extended agreement the Convertible Note bears a market interest rate at 8%. With the new extension, the principal of $20.7 million has the same conversion terms to cash, and will also be convertible in part or in whole to shares of ZAP or Jonway Auto at maturity date or at any time with a 90 day notice. Beginning August 12, 2013 within 10 calendar days following the end of each fiscal quarter, the Company is required to pay Holder the Additional Interest accrued during such fiscal quarter by issuing the Holder or a party designated by the Holder, the number of shares of the Company’s Common Stock equal to the Additional Interest accrued during such fiscal quarter divided by the average of the Closing Prices for each trading day during such fiscal quarter ending on (and including) the last Trading Day of such fiscal quarter. The Additional Interest Rate may be amended from time to time with the written consent of the Holder and the Company. In addition, the warrants issued in connection with the CEVC note were amended for the change of the terms of conversion and for the extension of the maturity date until December 31, 2016 (See Note 11).
 
Upon expiration date of the CEVC note on December 31, 2016, it is most likely that this convertible note will be repaid by ZAP in the form of Jonway Auto shares in order to reduce the liability of ZAP. If the CEVC note is repaid by Jonway Auto shares, ZAP’s ownership of Jonway Auto would be reduced to less than majority interest, resulting in need to reconsider eligibility for consolidation.  Due to the increasing accumulation of debt from Jonway Auto, largely because of the lack of working capital to fulfill orders, Jonway Auto may seek equity funding in order to meet its operational financial needs.  If this were to happen, then the additional equity investment into Jonway Auto would also reduce ZAP’s majority equity ownership in Jonway Auto. As a result, the qualification for ZAP to consolidate Jonway Auto would have to be reassessed based on ZAP's financial control, board and management control of Jonway Auto.
 
Interest expense related to CEVC convertible note for the three and nine months ended September 30, 2016 was $416,981 and $1,242,929, respectively, and for the three and nine months ended September 30, 2015 was $416,981 and $1,237,345, respectively. Accrued interest related to CEVC convertible note was $829,429 and $833,961, as of September 30, 2016 and December 31, 2015, respectively.
 

(b) Convertible debt – Mr. Luo Hua Liang
 
On September 3, 2015, the board approved issuance of a convertible note to Mr. Luo Hua Liang (the CEO’s brother in-law) for his investment of RMB 5 million immediately deposited within one week of signing of the agreement and another investment up to RMB 5 million within one month of signing of the agreement. Both notes have one year terms at the interest rate of 12% per annum, and they have been extended one year to September 2017. The investment was transferred to Jonway Auto as the loan from the Company to Jonway Auto. The convertible note shall either be repaid in cash from Jonway Auto or be paid in ZAP shares. The convertible note’s conversion price is $0.06 per share. 
 
Interest expense related to this convertible debt for the three and nine months ended September 30, 2016 was $22,437 and $68,199, respectively, and for the three and nine months ended September 30, 2015 was $7,078 and $7,078, respectively. Accrued interest related to CEVC convertible note was $96,852 and $30,133, as of September 30, 2016 and December 31, 2015, respectively.
XML 25 R15.htm IDEA: XBRL DOCUMENT v3.5.0.2
SEGMENT REPORTING
 9 Months Ended
Sep. 30, 2016
Segment Reporting [Abstract]  
SEGMENT REPORTING
NOTE 9 – SEGMENT REPORTING
 
Operating Segments
 
In accordance with ASC 280, the Company has identified three reportable segments through the entities of Jonway Auto, ZAP (Consumer Product) and ZAP Hong Kong. The Jonway Auto segment represents sales of the gas fueled Jonway Auto A380 three and five-door sports utility vehicles, EV minivan and EV SUVs and spare parts principally through distributors in China. The ZAP Consumer Product segment represents rechargeable portable energy products, the Company’s Zapino scooter, and the Company’s ZAPPY3 personal transporters. These segments are strategic business units that offer different services. They are managed separately because each business requires different resources and strategies. The Company’s chief operating decision making group, which is comprised of the CEOs and the senior executives of each of ZAP’s strategic segments, regularly evaluate the financial information about these segments in deciding how to allocate resources and in assessing performance.
 
The performance of each segment is measured based on its profit or loss from operations before income taxes. Segment results are summarized as follows (in thousands):
 
 
 
  
Jonway
Auto
    
ZAP
    
ZAP
Hong Kong
    
Total
  
For the three months ended September 30, 2016
                        
    Net sales
  
$
3,279
    
$
7
    
$
-
    
$
3,286
  
    Gross profit (loss)
  
$
(380
)
  
$
1
    
$
-
    
$
(379
)
    Depreciation and amortization
  
$
684
    
$
1,264
    
$
-
    
$
1,948
  
    Net loss
  
$
(2,185
)
  
$
(1,132
)
  
$
-
    
$
(3,317
)
    Total assets
  
$
56,008
    
$
12,785
    
$
-
    
$
68,793
  
 
                                
For the three months ended September 30, 2015
                                
    Net sales
  
$
7,089
    
$
65
    
$
-
    
$
7,154
  
    Gross profit (loss)
  
$
(189
)
  
$
(5
)
  
$
-
    
$
(194
)
    Depreciation and amortization
  
$
1,363
    
$
653
    
$
-
    
$
2,016
  
    Net loss
  
$
(2,235
)
  
$
(1,479
)
  
$
-
    
$
(3,714
)
    Total assets
  
$
63,904
    
$
17,742
    
$
9
    
$
81,655
  
For the nine months ended September 30, 2016
                          
    Net sales
  
$
9,623
    
$
16
    
$
-
    
$
9,639
  
    Gross profit (loss)
  
$
(1,040
)
  
$
3
    
$
-
    
$
(1,037
)
    Depreciation and amortization
  
$
3,910
    
$
1,915
    
$
-
    
$
5,825
  
    Net loss
  
$
(6,598
)
  
$
(3,485
)
  
$
-
    
$
(10,083
)
    Total assets
  
$
56,008
    
$
12,785
    
$
-
    
$
68,793
  
 
                                
For the nine months ended September 30, 2015
                          
    Net sales
  
$
20,606
    
$
266
    
$
-
    
$
20,872
  
    Gross profit (loss)
  
$
(1,054
)
  
$
77
    
$
-
    
$
(977
)
    Depreciation and amortization
  
$
4,253
    
$
1,961
    
$
-
    
$
6,214
  
    Net loss
  
$
(9,529
)
  
$
(4,338
)
  
$
-
    
$
(13,867
)
    Total assets
  
$
63,904
    
$
17,742
    
$
9
    
$
81,655
  
 
 
Customer information
 
Approximately 99.8% or $3.3 million of the Company’s revenues for the three months ended September 30, 2016 are from sales in China.  Jonway Auto distributes its products to an established network of over 70 factory level dealers in China with two customers contributing 44% and 45% of the Company’s consolidated revenue during the three months ended September 30, 2016. Approximately 99.1% or $7.1 million of the Company’s revenues for the three months ended September 30, 2015 are from sales in China. Jonway Auto distributes its products to an established network of over 63 factory level dealers in China with three customers contributing 14%, 12% and 10% of the Company’s consolidated revenue during the three months ended September 30, 2015.
 
Approximately 99.8% or $9.6 million of the Company’s revenue for the nine months ended September 30, 2016 are from sales in China. Jonway Auto distributes its products to an established network of over 70 factory level dealers in China with three customer contributing 14%, 15% and 16% of the Company’s consolidated revenue during the nine months ended September 30, 2016. Approximately 98.7% or $20.6 million of the Company’s revenue for the nine months ended September 30, 2015 are from sales in China. Jonway Auto distributed its product to an established network of over 65 factory level dealers in China with one customer contributing approximately 18% of the Company’s consolidated revenue during the nine months ended September 30, 2015.
 
Supplier information
 
For the three months ended September 30, 2016 and 2015, approximately 99.8% or $3.7 million and 99.0% or $7.3 million of the consolidated cost of goods sold were purchased in China. For the three months ended September 30, 2016, one vendor contributed 29.2% of the Company’s purchases.  For the three months ended September 30, 2015, three venders accounted for 22.6%, 11.9% and 10.1% of the total purchases. For the nine months ended September 30, 2016 and 2015, approximately 99.90% or $10.7 million and 99.1% or $21.7 million of the consolidated cost of goods sold were purchased in China. For the nine months ended September 30, 2016, two vendors accounted for 11.3% and 11.0% of the total purchases, respectively. For the nine months ended September 30, 2015, one vendor contributed to over 11.9% of the Company’s purchases.
XML 26 R16.htm IDEA: XBRL DOCUMENT v3.5.0.2
RELATED PARTY TRANSACTIONS
 9 Months Ended
Sep. 30, 2016
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS
NOTE 10 – RELATED PARTY TRANSACTIONS
 
Due from (to) related parties
 
Amounts due from related parties are principally for advances in the normal course of business for parts and suppliers used in manufacturing.
 
Amounts due from related parties are as follows (in thousands):
 
 
  
September 30,
2016
    
December 31,
2015
  
 
            
Sanmen Branch of Zhejiang UFO Automobile
Manufacturing Co., Ltd
  
$
-
    
$
998
  
Shanghai Zapple
    
123
      
-
  
Jonway Economy and Trade Co., Ltd.
    
1
      
616
  
 
  
$
124
    
$
1,614
  

In addition, accounts receivable included in accounts receivable due from related parties as follows (in thousands):

 
  
September 30,
2016
    
December 31,
2015
  
 
            
Jonway EV selling Ltd.
  
$
3,317
    
$
4,659
  
Sanmen Branch of Zhejiang UFO Automobile Manufacturing Co., Ltd
    
1,054
      
212
  
Jonway Motorcycle
    
405
      
301
  
   
$
4,776
    
$
5,172
  

Amounts due to related parties are follows (in thousands):
 
 
  
September 30,
2016
    
December 31,
2015
  
 
            
Jonway Group
  
$
11,413
    
$
12,606
  
Jonway Motor Cycle
    
64
      
64
  
Taizhou Huadu
    
-
      
846
  
Shanghai Zapple
    
-
      
35
  
Mr. Alex Wang, the CEO
    
4
      
74
  
Mr. Huaiyi Wang
    
14
      
-
  
Betterworld
    
149
      
149
  
Zhejiang Jonway Painting Co., Ltd.
    
-
      
11
  
Cathaya Operations Management Ltd.
    
127
      
193
  
 
  
$
11,771
    
$
13,978
  
 
Transactions with Jonway Group
 
Jonway Group is considered as a related party as the Wang Family, one of the principal shareholders of the Company, has controlling interests in Jonway Group. Jonway Group supplies some of plastics spare parts to Jonway Auto and gave guarantees on Jonway Auto short term bank facilities from China-based banks. Jonway Auto made such purchases from Jonway Group for a total of $260,000 and $1,666,000 for the nine months ended September 30, 2016 and 2015, respectively. Jonway Auto made such purchases from Jonway Group for a total of $111,000 and $362,000 for the three months ended September 30, 2016 and 2015, respectively.
 
Jonway Auto Agreement with Zhejiang UFO
 
Based on a contract by and among the Zhejiang UFO, Jonway Group and Jonway Auto dated as of January 1, 2006, Zhejiang UFO has authorized Jonway Auto to operate its Sanmen Branch to assemble and sell UFO branded SUVs for a period of 10 years starting from January 1, 2006. The agreement has not been officially renewed, but all involved parties are still following the original terms stated in the contract.
 
According to the contract, Jonway Auto shall pay Zhejiang UFO a variable contractual fee which is calculated based on the number of SUVs that Jonway Auto assembles in the Sanmen Branch every year, at the following rates (historical exchange rate):
 
The first 3,000 vehicles
$44 per vehicle
Vehicles from 3,001 to 5,000
$30 per vehicle
Vehicles over 5,000
$22 per vehicle
 
Zhejiang UFO is considered a related party because the Wang Family, who are shareholders of Jonway Auto, has certain non-controlling equity interests in Zhejiang UFO.  For the nine months ended September 30, 2016 and 2015, $22,000 and $Nil were recorded as assembling fees, respectively.  For the three months ended September 30, 2016 and 2015, $Nil and $Nil were recorded as assembling fees, respectively.


  Other Related Party Transactions

For the nine months ended September 30, 2016, Jonway Auto purchased parts in amount of $468,000 and $260,000 from Taizhou Huadu and Jonway Group, respectively. For the nine months ended September 30, 2015, Jonway Auto purchased $Nil and $1,299,000 spare parts from Taizhou Huadu and Jonway Group, respectively.
XML 27 R17.htm IDEA: XBRL DOCUMENT v3.5.0.2
SHAREHOLDERS' EQUITY
 9 Months Ended
Sep. 30, 2016
Stockholders' Equity Note [Abstract]  
SHAREHOLDERS' EQUITY
NOTE 11 - SHAREHOLDERS’ EQUITY
 
Common stock
 
2016 ISSUANCES

In August 2016, the amount of $443,630 due to Cathaya Management Co Ltd, a related party, has been converted into 8,872,602 shares of common stock at price of $0.05. In addition, China Electric Vehicle Corporation (CEVC), a related party, has elected to convert the interest of $1,246,410 due on the $20.7 million convertible note to 18,399,316 shares of ZAP’s common stock at the average share price of related interest period (see Note 8). The Company also issued 200,000 shares of common stock to the CFO in August 2016.

The Company planned to issue an aggregated of 9,994,038 shares of the Company’s common stock to settle certain existing debts of $476,561 in accordance with the Board approval in July 2016, which including the amount of $412,448 due to CEVC, a related party, to be converted into 8,711,779 shares of common stock at price of $0.047, and the amount of $64,113 due to a debt holder to be converted into 1,282,259 shares of common stock at price of $0.05. These shares have not been issued as of the reporting date.

2015 ISSUANCES
 
On February 11, 2015, the cancellation of 1,182,558 shares of common stock was processed to pay back the proceeds from convertible notes, and a partial repayment representing a principal reduction of $100,000 and $8,433 of interest was paid on the Company’s outstanding convertible bond held by Yung. For the year ended December 31, 2015, the Company repurchased 4,811,633 shares of common stock at cost of $406,872 from Yung and cancelled those shares. The balance of the outstanding note issued to Korea Yung was $133,116 after the payment and cancellation of these shares. Yung was allowed to engage in open market sales of the shares through December 31, 2015. In the event the gross proceeds realized from the sale of the shares by Yung was greater than the principal and interest due on the bond as of the maturity date, Yung would have been entitled to retain all proceeds. If the proceeds from the sale of shares are less than the principal and interest due on the bond as of the maturity date, ZAP would pay the shortfall to Yung in cash within five business days of written notice from Yung.

In September 2015, the Company issued 89,194,715 shares to Mr. Alex Wang, the Chief Executive Officer of the Company for his investment of $5,351,683 in the Company (approximately $4.5 million investment was loan by the Company to its subsidiary Jonway Auto).

In September 2015, the amount of $814,863 investment from Cathaya Management Co Ltd, a related party, and $350,000 due to Cathaya Management Co Ltd have been converted into 13,581,051 and 5,833,333 shares of common stock at price of $0.06, respectively.

In September 2015, China Electric Vehicle Corporation (CEVC), a related party, has elected to convert the interest of $1,237,345 due on the $20.7 million convertible note to 14,454,743 shares of common stock at the average price of $0.086.


Stock-based Compensation
 
The Company has stock compensation plans for employees and directors. The Company recognizes the stock-based compensation expense over the requisite service period of the individual grantees, which generally equals the vesting period. All of the stock-based compensation is accounted for as an equity instrument.

In June 2015, the Company granted 200,000 restricted shares to Michael Ringstad in lieu of salary compensation and also for his acceptance for the position of Interim CFO. The stock was set at average of last 30 trading days, and the vesting period is for a period of 3 years from the date of grant. Michael Ringstad cannot sell the shares within nine months from the date of grant and the Company retains the right to buy back the shares at any time at the market price.

For the three and nine months ended September 30, 2016, $18,000 and $54,000 was recorded as stock-based compensation expense, respectively. For the three and nine months ended September 30, 2015, $18,000 and $55,000 was recorded as stock-based compensation expense, respectively.
XML 28 R18.htm IDEA: XBRL DOCUMENT v3.5.0.2
LITIGATION
 9 Months Ended
Sep. 30, 2016
Loss Contingency, Information about Litigation Matters [Abstract]  
LITIGATION
NOTE 12 – LITIGATION
 
ZAP is in arrears with the settlement payment to Hogan & Lovells. The current negotiated balance due is $779,500.  Hogan & Lovells agreed to reduce the total amount owed by $453,827, as long as the Company does not default on its payment agreement. If Hogan & Lovells does seek a judgment, the total balance due immediately would be $1,233,327, recorded by the Company in its books and records. Currently ZAP is seeking additional funding, and is working with prospective investors or lenders so ZAP can resume the installment payments to Hogan & Lovells. As of September 30, 2016 and December 31, 2015, the Company accrued approximately $1.2 million for this litigation.
XML 29 R19.htm IDEA: XBRL DOCUMENT v3.5.0.2
COMMITMENTS AND CONTINGENCIES
 9 Months Ended
Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES
NOTE 13 – COMMITMENTS AND CONTINGENCIES
 
Guarantees
 
Jonway Auto guaranteed certain financial obligations of outside third parties including suppliers and customers to support the Company’s business and economic growth. Guarantees will terminate on payment and/or cancellation of the obligation once it is repaid. A payment by the Company would be triggered by failure of the guaranteed party to fulfill its obligation covered by the guarantee. Maximum potential payments under guarantees total $2.2 million at September 30, 2016 (December 31, 2015 - $2.3 million). The guarantee expires at variance dates from November, 2016 to December 2019. The Company’s performance risk under these guarantees is reviewed regularly, and has resulted in no changes to its initial valuations.
 
              Jonway Auto pledged a land use right and a building to Shanghai Pu Dong Development Bank to secure a bank loan of $1.0 million offered to a related company, Taizhou Jonway Jing Mao Trading Ltd., which is a subsidiary of Jonway Group. The period of guarantee is five years from 2014 to 2019. The net value of the land use right and the building pledged as at September 30, 2016 and December 31, 2015 were $0.5 million and $0.5 million, respectively.
XML 30 R20.htm IDEA: XBRL DOCUMENT v3.5.0.2
SIGNIFICANT ACCOUNTING POLICIES (Policies)
 9 Months Ended
Sep. 30, 2016
Accounting Policies [Abstract]  
Basis of Presentation and Consolidation
Basis of Presentation and Consolidation
 
The accompanying unaudited condensed consolidated financial statements include the financial statements of ZAP, and its subsidiaries, and are prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) for interim financial information pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Management considers subsidiaries to be companies that are over 50% controlled. Significant intercompany transactions and balances are eliminated in consolidation; profits from intercompany sales, are also eliminated; non-controlling interests are included in equity.  The Company accounts for its 37.5% interest in the ZAP Hangzhou and its 50% interest in Shanghai Zapple using the equity method of accounting because it has significant influence but not control. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the financial statements have been included. Interim results are not necessarily indicative of results to be expected for the full year. The information included in this Form 10-Q should be read in conjunction with information included in the 2015 annual report on Form 10-K filed on April 14, 2016.
Use of Estimates
Use of Estimates
 
The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. The more significant estimates relate to revenue recognition, contractual allowances and uncollectible accounts, intangible assets, accrued liabilities, stock based compensation, litigation and contingencies. Estimates are based on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances, the results of which form the basis for judgments about results and the carrying values of assets and liabilities. Actual results and values may differ significantly from these estimates.
Revenue Recognition
Revenue Recognition
 
The Company records revenues for non-Jonway Auto sales when all of the following criteria have been met:
 
-  Persuasive evidence of an arrangement exists. The Company generally relies upon sales contracts or agreements, and customer purchase orders to determine the existence of an arrangement.

- Sales price is fixed or determinable. The Company assesses whether the sales price is fixed or determinable based on the payment terms and whether the sales price is subject to refund or adjustment. 

- Delivery has occurred. The Company uses shipping terms and related documents, or written evidence of customer acceptance, when applicable, to verify delivery or performance. The Company’s customary shipping terms are FOB shipping point.

- Collectability is reasonably assured.  The Company assesses collectability based on creditworthiness of customers as determined by the Company’s credit checks and their payment histories. The Company records accounts receivable net of allowance for doubtful accounts and estimated customer returns.

 The Company records revenues for Jonway Auto sales only upon the occurrence of all of the following conditions:
 
- The Company has received a binding purchase order from the customer or distributor authorized by a representative empowered to commit the purchaser (evidence of a sale);

- The purchase price has been fixed, based on the terms of the purchase order;

- The Company has delivered the product from its factory to a common carrier acceptable to the customer; and

- The Company deems the collection of the amount invoiced probable.

The Company provides no price protection. Sales are recognized net of sale discounts, rebates and return allowances.
Fair Value of Financial Instruments
Fair Value of Financial Instruments

Accounting Standards Update (“ASU”) 820, “Fair Value Measurements” and Accounting Standards Codification (“ASC”) 825, Financial Instruments, requires an entity to use observable inputs and minimize the use of unobservable inputs when measuring fair value. It establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. It prioritizes the inputs into three levels that may be used to measure fair value:

Level 1: Observable inputs such as quoted prices in active markets;

Level 2: Inputs other than quoted prices that are observable for the asset or liability in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.

Level 3: Unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions and methodologies that result in management’s best estimate of fair value.

The carrying value of current assets and liabilities approximate their fair values because of the short-term nature of these instruments. The carrying value of the senior convertible debt (see Note 8), which approximates fair value, is influenced by interest rates and the Company’s stock price, and is determined by prices for the convertible debts observed in market trading, which are Level 2 inputs.
Foreign Currency Translation
Foreign Currency Translation
 
The Company and its wholly owned subsidiary/investments, maintain their accounting records in United States Dollars (“US$”) whereas Jonway Auto maintains its accounting records in the currency of Renminbi (“RMB”), being the primary currency of the economic environment in which their operations are conducted.

Jonway Auto’s principal country of operations is the PRC. The financial position and results of the Company’s operations are determined using RMB, the local currency, as the functional currency.  The results of operations and the statement of cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period.  Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date.  The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital contribution.  Due to the fact that cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the balance sheet.  Translation adjustments arising from the use of different exchange rates from period to period are included as a component of stockholder’s equity as “Accumulated Other Comprehensive Income.”

The value of RMB against US$ and other currencies may fluctuate and is affected by, among other things, changes in China’s political and economic conditions, any significant revaluation of RMB may materially affect the Company’s financial condition in terms of US$ reporting.  The following table outlines the currency exchange rates that were used in creating the unaudited condensed consolidated financial statements in this report:
 
 
 
September 30, 2016
September 30,
2015
December 31, 2015
 
 
  
    
Balance sheet items, except for share capital, additional
   paid in capital and retained earnings
$ 1=RMB 6.6702 
$ 1=RMB6.3638
 $1=RMB6.4917
 
 
  
    
Amounts included in the statements of operations
   and cash flows
$ 1=RMB 6.5802
$ 1=RMB6.1735
$1=RMB 6.2288
Recent Accounting Pronouncements
Recent Accounting Pronouncements
 
In August 2016, the FASB issued ASU No. 2016 15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, to provide guidance on the presentation and classification of certain cash receipts and cash payments on the statement of cash flows. The guidance specifically addresses cash flow issues with the objective of reducing the diversity in practice. The guidance will be effective for the Company in fiscal year 2018, but early adoption is permitted. The Company is currently evaluating the impact of this new standard on its unaudited condensed consolidated financial statements and related disclosures.
 
In October 2016, the FASB issued ASU No. 2016 16, Income Taxes (Topic 740): Intra - Entity Transfers of Assets Other Than Inventory. The amendments require an entity to recognize income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs and remove the exception to postpone recognition until the asset has been sold to an outside party. The amendments are effective for public business entities for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual reporting periods. For all other entities, the amendments are effective for annual reporting periods beginning after December 15, 2018, and interim reporting periods within annual reporting periods beginning after December 15, 2019. Early adoption is permitted. The Company is currently evaluating the impact of this new standard on its unaudited condensed consolidated financial statements and related disclosures.
 
In October 2016, the FASB issued ASU No. 2016-17, Consolidation (Topic 810): Interest Held through Related Parties That Are under Common Control, to provide guidance on the evaluation of whether a reporting entity is the primary beneficiary of a VIE by amending how a reporting entity, that is a single decision maker of a VIE, treats indirect interests in that entity held through related parties that are under common control. The amendments are effective for public business entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact of this new standard on its unaudited condensed consolidated financial statements and related disclosures.
XML 31 R21.htm IDEA: XBRL DOCUMENT v3.5.0.2
SIGNIFICANT ACCOUNTING POLICIES (Tables)
 9 Months Ended
Sep. 30, 2016
Accounting Policies [Abstract]  
Schedule of Foreign Currency Exchange Balance
 
September 30, 2016
September 30,
2015
December 31, 2015
 
 
  
    
Balance sheet items, except for share capital, additional
   paid in capital and retained earnings
$ 1=RMB 6.6702 
$ 1=RMB6.3638
 $1=RMB6.4917
 
 
  
    
Amounts included in the statements of operations
   and cash flows
$ 1=RMB 6.5802
$ 1=RMB6.1735
$1=RMB 6.2288
XML 32 R22.htm IDEA: XBRL DOCUMENT v3.5.0.2
ACCOUNTS RECEIVABLE (Tables)
 9 Months Ended
Sep. 30, 2016
Accounts Receivable, Net [Abstract]  
Schedule of accounts receivable
 
  
September 30,
2016
    
December 31,
2015
  
 
            
Accounts receivable – third parties
  
$
2,256
    
$
2,274
  
Accounts receivable – related parties
    
4,776
      
5,172
  
 
    
7,032
      
7,446
  
Less – Allowance for doubtful accounts
    
(1,936
)
    
(1,531
)
Total account receivable, net
  
$
5,096
    
$
5,915
  
Schedule of changes in allowance for doubtful accounts
 
  
September 30,
2016
    
December 31,
2015
  
Balance, beginning of period
  
$
1,531
    
$
439
  
Write-off
    
-
      
(76
)
Current provision
    
405
      
1,168
  
Balance, end of period
  
$
1,936
    
$
1,531
  
XML 33 R23.htm IDEA: XBRL DOCUMENT v3.5.0.2
INVENTORIES, NET (Tables)
 9 Months Ended
Sep. 30, 2016
Inventory Disclosure [Abstract]  
Schedule of Inventories
 
  
September 30,
2016
    
December 31,
2015
  
 
            
Work in Process
  
$
2,025
    
$
2,237
  
Parts and supplies
    
4,020
      
3,616
  
Finished goods
    
2,117
      
3,186
  
 
    
8,162
      
9,039
  
Less - inventory reserve
    
(1,290
)
    
(1,296
)
Inventories, net
  
$
6,872
    
$
7,743
  
Schedule of Inventory Reserve
 
  
September 30,
2016
    
December 31,
2015
  
Balance, beginning of period
  
$
1,296
    
$
1,380
  
Current provision (recovery) for Jonway Auto
    
19
      
(132
)
Current provision (recovery) for inventory ZAP, net
    
(25
)
    
48
  
Balance, end of period
  
$
1,290
    
$
1,296
  
XML 34 R24.htm IDEA: XBRL DOCUMENT v3.5.0.2
DISTRIBUTION AGREEMENTS (Tables)
 9 Months Ended
Sep. 30, 2016
DISTRIBUTION AGREEMENTS [Abstract]  
Schedule of Distribution Agreements
 
  
September 30,
2016
    
December 31,
2015
  
 
            
Better World Products - related party
  
$
2,160
    
$
2,160
  
Jonway Products
    
14,400
      
14,400
  
 
    
16,560
      
16,560
  
Less: amortization
    
(10,681
)
    
(9,601
)
 
  
$
5,879
    
$
6,959
  
Schedule of Estimated Future Amortization Expense Related to Agreements
12 months ended September 30,
      
2017
  
$
1,440
  
2018
    
1,440
  
2019
    
1,440
  
2020
    
1,440
  
Thereafter
    
119
  
Total
  
$
5,879
  
XML 35 R25.htm IDEA: XBRL DOCUMENT v3.5.0.2
SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES (Tables)
 9 Months Ended
Sep. 30, 2016
Debt Disclosure [Abstract]  
Schedule of Short-Term Debt
 
  
  
September 30,
2016
    
December 31, 2015
  
 
 
            
Loan from CITIC bank
(a)
  
$
5,547
    
$
3,081
  
Loan from ICBC
(b)
    
4,498
      
4,621
  
 
 
                
 
  
  
$
10,045
    
$
7,702
  
Schedule of Bank Acceptance Notes
 
    
  
September 30,
2016
    
December 31, 2015
  
 
 
            
Bank acceptance notes payable to China Everbright Bank
(a)
  
$
5,997
    
$
7,086
  
Bank acceptance notes payable to CITIC Bank
(b)
    
3,973
      
6,428
  
Bank acceptance notes payable to Shanghai Pudong Development bank
(c)
    
-
      
852
  
 
    
  
$
9,970
    
$
14,366
  
XML 36 R26.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONVERTIBLE DEBT (Tables)
 9 Months Ended
Sep. 30, 2016
Convertible Debt Tables  
Schedule of convertible debt
 
September 30,
2016
  
December 31,
2015
  
 
        
Senior convertible debt – CEVC (a)
  
$
20,679
    
$
20,679
  
Convertible debt – Mr. Luo Hua Liang (b)
    
786
      
786
  
   
$
21,465
    
$
21,465
  
XML 37 R27.htm IDEA: XBRL DOCUMENT v3.5.0.2
SEGMENT REPORTING (Tables)
 9 Months Ended
Sep. 30, 2016
Segment Reporting Tables  
Schedule of Segment Results
 
  
Jonway
Auto
    
ZAP
    
ZAP
Hong Kong
    
Total
  
For the three months ended September 30, 2016
                        
    Net sales
  
$
3,279
    
$
7
    
$
-
    
$
3,286
  
    Gross profit (loss)
  
$
(380
)
  
$
1
    
$
-
    
$
(379
)
    Depreciation and amortization
  
$
684
    
$
1,264
    
$
-
    
$
1,948
  
    Net loss
  
$
(2,185
)
  
$
(1,132
)
  
$
-
    
$
(3,317
)
    Total assets
  
$
56,008
    
$
12,785
    
$
-
    
$
68,793
  
 
                                
For the three months ended September 30, 2015
                                
    Net sales
  
$
7,089
    
$
65
    
$
-
    
$
7,154
  
    Gross profit (loss)
  
$
(189
)
  
$
(5
)
  
$
-
    
$
(194
)
    Depreciation and amortization
  
$
1,363
    
$
653
    
$
-
    
$
2,016
  
    Net loss
  
$
(2,235
)
  
$
(1,479
)
  
$
-
    
$
(3,714
)
    Total assets
  
$
63,904
    
$
17,742
    
$
9
    
$
81,655
  
For the nine months ended September 30, 2016
                          
    Net sales
  
$
9,623
    
$
16
    
$
-
    
$
9,639
  
    Gross profit (loss)
  
$
(1,040
)
  
$
3
    
$
-
    
$
(1,037
)
    Depreciation and amortization
  
$
3,910
    
$
1,915
    
$
-
    
$
5,825
  
    Net loss
  
$
(6,598
)
  
$
(3,485
)
  
$
-
    
$
(10,083
)
    Total assets
  
$
56,008
    
$
12,785
    
$
-
    
$
68,793
  
 
                                
For the nine months ended September 30, 2015
                          
    Net sales
  
$
20,606
    
$
266
    
$
-
    
$
20,872
  
    Gross profit (loss)
  
$
(1,054
)
  
$
77
    
$
-
    
$
(977
)
    Depreciation and amortization
  
$
4,253
    
$
1,961
    
$
-
    
$
6,214
  
    Net loss
  
$
(9,529
)
  
$
(4,338
)
  
$
-
    
$
(13,867
)
    Total assets
  
$
63,904
    
$
17,742
    
$
9
    
$
81,655
  
XML 38 R28.htm IDEA: XBRL DOCUMENT v3.5.0.2
RELATED PARTY TRANSACTIONS (Tables)
 9 Months Ended
Sep. 30, 2016
Related Party Transactions [Abstract]  
Schedule of Amount Due To/From Related Parties
Amounts due from related parties are as follows (in thousands):
 
 
  
September 30,
2016
    
December 31,
2015
  
 
            
Sanmen Branch of Zhejiang UFO Automobile
Manufacturing Co., Ltd
  
$
-
    
$
998
  
Shanghai Zapple
    
123
      
-
  
Jonway Economy and Trade Co., Ltd.
    
1
      
616
  
 
  
$
124
    
$
1,614
  

In addition, accounts receivable included in accounts receivable due from related parties as follows (in thousands):

 
  
September 30,
2016
    
December 31,
2015
  
 
            
Jonway EV selling Ltd.
  
$
3,317
    
$
4,659
  
Sanmen Branch of Zhejiang UFO Automobile Manufacturing Co., Ltd
    
1,054
      
212
  
Jonway Motorcycle
    
405
      
301
  
   
$
4,776
    
$
5,172
  

Amounts due to related parties are follows (in thousands):
 
 
  
September 30,
2016
    
December 31,
2015
  
 
            
Jonway Group
  
$
11,413
    
$
12,606
  
Jonway Motor Cycle
    
64
      
64
  
Taizhou Huadu
    
-
      
846
  
Shanghai Zapple
    
-
      
35
  
Mr. Alex Wang, the CEO
    
4
      
74
  
Mr. Huaiyi Wang
    
14
      
-
  
Betterworld
    
149
      
149
  
Zhejiang Jonway Painting Co., Ltd.
    
-
      
11
  
Cathaya Operations Management Ltd.
    
127
      
193
  
 
  
$
11,771
    
$
13,978
  
Schedule of Contract Rates
The first 3,000 vehicles
$44 per vehicle
Vehicles from 3,001 to 5,000
$30 per vehicle
Vehicles over 5,000
$22 per vehicle
XML 39 R29.htm IDEA: XBRL DOCUMENT v3.5.0.2
ORGANIZATION AND BASIS OF PRESENTATION (Basis Of Presentation) (Details)
Sep. 30, 2016
Jonway Auto [Member]  
Organization and Basis of Presentation [Line Items]  
Percentage ownership in Jonway 51.00%
XML 40 R30.htm IDEA: XBRL DOCUMENT v3.5.0.2
LIQUIDITY AND CAPITAL RESOURCES (Details)
$ in Thousands
Sep. 30, 2016
USD ($)
LIQUIDITY AND CAPITAL RESOURCES [Abstract]  
Current liabilities exceeded current assets $ 70,900
Equity Deficiency $ 23,000
XML 41 R31.htm IDEA: XBRL DOCUMENT v3.5.0.2
SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details)
 9 Months Ended 12 Months Ended
Sep. 30, 2016
¥ / $
Sep. 30, 2015
¥ / $
Dec. 31, 2015
¥ / $
Currency exchange rate 6.6702 6.3638 6.4917
Average currency exchange rate 6.5802 6.1735 6.2288
Zap Hangzhou [Member]      
Equity Method Investment, Ownership Percentage 37.50%    
Shanghai Zapple [Member]      
Equity Method Investment, Ownership Percentage 50.00%    
XML 42 R32.htm IDEA: XBRL DOCUMENT v3.5.0.2
ACCOUNTS RECEIVABLE (Schedule Of Accounts Receivable) (Details) - USD ($)
$ in Thousands
Sep. 30, 2016
Dec. 31, 2015
Accounts Receivable, Net [Abstract]    
Accounts receivable - third parties $ 2,256 $ 2,274
Accounts receivable - related parties 4,776 5,172
Account receivable, gross 7,032 7,446
Less - Allowance for doubtful accounts (1,936) (1,531)
Total account receivable, net $ 5,096 $ 5,915
XML 43 R33.htm IDEA: XBRL DOCUMENT v3.5.0.2
ACCOUNTS RECEIVABLE (Schedule Of Changes In Allowance For Doubtful Accounts) (Details) - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Dec. 31, 2015
Accounts Receivable, Net [Abstract]      
Balance, beginning of period $ 1,531 $ 439 $ 439
Write-off   (76)
Current provision 451 $ 1,614 1,168
Balance, end of period $ 1,936   $ 1,531
XML 44 R34.htm IDEA: XBRL DOCUMENT v3.5.0.2
INVENTORIES, NET (Schedule of Inventories) (Details) - USD ($)
$ in Thousands
Sep. 30, 2016
Dec. 31, 2015
Dec. 31, 2014
Inventory Disclosure [Abstract]      
Work in Process $ 2,025 $ 2,237  
Parts and supplies 4,020 3,616  
Finished goods 2,117 3,186  
Inventories 8,162 9,039  
Less - inventory reserve (1,290) (1,296) $ (1,380)
Inventories, net $ 6,872 $ 7,743  
XML 45 R35.htm IDEA: XBRL DOCUMENT v3.5.0.2
INVENTORIES, NET (Schedule of Inventory Reserve) (Details) - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2016
Dec. 31, 2015
Inventory Disclosure [Abstract]    
Balance, beginning of period $ 1,296 $ 1,380
Current provision (recovery) for Jonway Auto 19 (132)
Current provision (recovery) for inventory ZAP, net (25) 48
Balance, end of period $ 1,290 $ 1,296
XML 46 R36.htm IDEA: XBRL DOCUMENT v3.5.0.2
DISTRIBUTION AGREEMENTS (Narrative) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Distribution Agreements [Line Items]        
Depreciation and amortization $ 1,948 $ 2,016 $ 5,825 $ 6,214
Distribution Agreements [Member]        
Distribution Agreements [Line Items]        
Depreciation and amortization $ 360 $ 360 $ 1,080 $ 1,080
XML 47 R37.htm IDEA: XBRL DOCUMENT v3.5.0.2
DISTRIBUTION AGREEMENTS (Schedule of Distribution Agreements) (Details) - USD ($)
$ in Thousands
Sep. 30, 2016
Dec. 31, 2015
Distribution Agreements [Line Items]    
Distribution agreements $ 16,560 $ 16,560
Less: amortization and impairment (10,681) (9,601)
Distribution agreements, net 5,879 6,959
Better World [Member]    
Distribution Agreements [Line Items]    
Distribution agreements 2,160 2,160
Jonway Products [Member]    
Distribution Agreements [Line Items]    
Distribution agreements $ 14,400 $ 14,400
XML 48 R38.htm IDEA: XBRL DOCUMENT v3.5.0.2
DISTRIBUTION AGREEMENTS (Schedule of Future Amortization Expense) (Details) - Distribution Agreements [Member]
$ in Thousands
Sep. 30, 2016
USD ($)
Estimated future amortization expense:  
2017 $ 1,440
2018 1,440
2019 1,440
2020 1,440
Thereafter 119
Total $ 5,879
XML 49 R39.htm IDEA: XBRL DOCUMENT v3.5.0.2
SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES (Line of Credit) (Details) - USD ($)
$ in Thousands
 1 Months Ended
Jun. 30, 2015
Sep. 30, 2016
Mar. 31, 2014
China Everbright Bank [Member]      
Line of Credit Facility [Line Items]      
Maximum borrowing capacity $ 6,900 $ 6,000  
Credit exposure $ 3,500    
Notes payable   6,000  
Restricted cash deposit   3,000  
Unused line of credit   450  
Collateral amount   2,100  
Required cash deposit 50.00%    
CITIC Bank [Member]      
Line of Credit Facility [Line Items]      
Maximum borrowing capacity     $ 15,000
Credit exposure     5,500
Amount outstanding   $ 5,500  
Interest rate   6.00%  
Notes payable   $ 4,000  
Restricted cash deposit   4,000  
ICBC [Member]      
Line of Credit Facility [Line Items]      
Maximum borrowing capacity     $ 5,000
Amount outstanding   4,500  
Unused line of credit   $ 450  
ICBC [Member] | Minimum [Member]      
Line of Credit Facility [Line Items]      
Interest rate   4.36%  
ICBC [Member] | Maximum [Member]      
Line of Credit Facility [Line Items]      
Interest rate   6.66%  
XML 50 R40.htm IDEA: XBRL DOCUMENT v3.5.0.2
SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES (Schedule of Short-Term Debt) (Details) - USD ($)
$ in Thousands
 1 Months Ended 9 Months Ended
Jun. 08, 2016
Apr. 14, 2016
Apr. 13, 2016
Mar. 25, 2016
Jul. 22, 2016
Jun. 22, 2016
Apr. 26, 2016
Nov. 30, 2015
Oct. 31, 2015
Jul. 31, 2015
Jun. 30, 2015
Mar. 31, 2015
Sep. 30, 2016
Sep. 30, 2015
Dec. 31, 2015
Short-term Debt [Line Items]                              
Short term loans                         $ 10,045   $ 7,702
CITIC Bank [Member]                              
Short-term Debt [Line Items]                              
Interest rate                         6.00%    
ICBC [Member]                              
Short-term Debt [Line Items]                              
Face amount                         $ 1,400    
CITIC Bank [Member]                              
Short-term Debt [Line Items]                              
Short term loans [1]                         5,547   3,081
Face amount   $ 1,400 $ 1,500 $ 500     $ 2,100   $ 3,100       5,000    
Term   1 year 1 year 1 year     1 year   6 months            
Interest rate   6.00% 6.00% 6.00%     6.00%   5.90%            
Debt Instrument, Maturity Date   Apr. 14, 2017 Apr. 13, 2017 Mar. 25, 2017     Apr. 26, 2017   Apr. 30, 2016            
ICBC [Member]                              
Short-term Debt [Line Items]                              
Short term loans [2]                         $ 4,498   $ 4,621
Face amount $ 300       $ 1,100 $ 700   $ 1,100 $ 1,300 $ 1,100 $ 300 $ 800      
Term 1 year       1 year 1 year   1 year 1 year 1 year 1 year 1 year      
Interest rate 5.00%       5.00% 4.40%   6.10% 6.40% 6.70% 5.92% 5.40%      
Debt Instrument, Maturity Date                   Jul. 31, 2016 Jun. 30, 2016 Mar. 31, 2016      
Weighted average interest rate                         5.80% 6.60%  
[1] In October 2015, Jonway Auto borrowed a half year short-term loan of $3.1 million at annual interest rate of 5.9%. The loan was repaid upon maturity in April 2016. On March 25, 2016, Jonway Auto entered into a one year loan of $0.5 million at annual interest rate of 6.0%. The loan is due on March 25, 2017. On April 13, 2016, Jonway Auto entered into a one year loan of $1.5 million at an annual interest rate of 6.0%. The loan is due on April 13, 2017. On April 14, 2016, Jonway Auto entered into a one year loan of $1.4 million at annual interest rate of 6.0%. The loan is due on April 14, 2017. On April 26, 2016, Jonway Auto further entered into a one year loan of $2.1 million at annual interest rate of 6.0%. The loan is due on April 26, 2017. All loans are secured by a Maximum Amount Mortgage Contract between Jonway Auto and CITIC dated November 3, 2014, in which a land use right and a building with a total carrying amount of $5.0 million as of September 30, 2016 has been pledged as security for these loans. The shareholder and the CEO also personally guaranteed these loans.
[2] In March 2015, the Company entered into a one year short-term loan of $0.8 million from ICBC at an annual interest of 5.4% and fully repaid the loan upon maturity in March 2016. In June 2015, the Company entered into a one year short-term loan of $0.3 million from ICBC at an annual interest rate of 5.92% and fully repaid the loan upon maturity in June 2016. In July 2015, the Company entered into a one year short-term loan of $1.1 million from ICBC at an annual interest rate of 6.7% and fully repaid the loan upon maturity in July 2016. In October 2015, the Company entered into a one year short-term loan of $1.3 million at an annual interest of 6.4%. In November 2015, the Company entered into a one year short-term loan of $1.1 million at an annual interest rate of 6.1%. On June 8, 2016, the Company entered into a one year short-term loan of $0.3 million at an annual interest rate of 5.0%. On June 22, 2016, the Company entered into a one year short-term loan of $0.7 million at an annual interest rate of 4.4%. On July 22, 2016, the Company entered into a one year short-term loan of $1.1 million at an annual interest rate of 5%.
XML 51 R41.htm IDEA: XBRL DOCUMENT v3.5.0.2
SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES (Schedule of Bank Acceptance Notes) (Details) - USD ($)
$ in Thousands
 1 Months Ended 9 Months Ended
Apr. 14, 2016
Apr. 13, 2016
Mar. 25, 2016
Apr. 26, 2016
Oct. 31, 2015
Sep. 30, 2016
Dec. 31, 2015
Short-term Debt [Line Items]              
Bank acceptance notes payable           $ 9,970 $ 14,366
Notes Payable to Banks [Member]              
Short-term Debt [Line Items]              
Bank acceptance notes payable           10,000  
Restricted cash deposit           $ 7,000  
Notes Payable to Banks [Member] | Minimum [Member]              
Short-term Debt [Line Items]              
Required cash deposit           50.00%  
Notes Payable to Banks [Member] | Maximum [Member]              
Short-term Debt [Line Items]              
Required cash deposit           100.00%  
China Everbright Bank [Member]              
Short-term Debt [Line Items]              
Ending maturity date           Dec. 31, 2016  
Collateral amount           $ 2,100  
Required cash deposit           50.00%  
China Everbright Bank [Member] | Notes Payable to Banks [Member]              
Short-term Debt [Line Items]              
Bank acceptance notes payable [1]           $ 5,997 7,086
CITIC Bank [Member]              
Short-term Debt [Line Items]              
Ending maturity date           Mar. 31, 2017  
Required cash deposit           100.00%  
Maturity date Apr. 14, 2017 Apr. 13, 2017 Mar. 25, 2017 Apr. 26, 2017 Apr. 30, 2016    
CITIC Bank [Member] | Notes Payable to Banks [Member]              
Short-term Debt [Line Items]              
Bank acceptance notes payable [2]           $ 3,973 6,428
Shanghai Pudong Development Bank [Member]              
Short-term Debt [Line Items]              
Beginning maturity date           Jan. 01, 2016  
Ending maturity date           May 31, 2016  
Required cash deposit           100.00%  
Shanghai Pudong Development Bank [Member] | Notes Payable to Banks [Member]              
Short-term Debt [Line Items]              
Bank acceptance notes payable [3]           $ 852
[1] Notes payable to China Everbright bank have various maturity dates in December 2016. The notes payable are guaranteed by a land use right and a building with a total carrying value of $2.1 million. The Company is also required to maintain cash deposits at 50% of the notes payable with the bank, in order to ensure future credit availability.
[2] Notes payable to CITIC bank will be due in March 2017. The Company is required to maintain cash deposits at 100% of the notes payable with the bank, in order to ensure future credit availability.
[3] Notes payable to Shanghai Pudong Development Bank was due in January and May 2016. The Company was required to maintain cash deposits at 100% of the notes payable with the bank. The note payable was fully repaid upon due date.
XML 52 R42.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONVERTIBLE DEBT (Schedule of Convertible Debt) (Details) - USD ($)
$ in Thousands
Sep. 30, 2016
Dec. 31, 2015
Convertible Debt [Abstract]    
Senior convertible debt - CEVC $ 20,679 $ 20,679
Convertible debt - Mr. Luo Hua Liang 786 786
Convertible debt $ 21,465 $ 21,465
XML 53 R43.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONVERTIBLE DEBT (Narrative) (Details)
 3 Months Ended 9 Months Ended
Sep. 03, 2015
USD ($)
$ / shares
Jan. 12, 2011
USD ($)
$ / shares
shares
Sep. 30, 2016
USD ($)
Sep. 30, 2015
USD ($)
Sep. 30, 2016
USD ($)
shares
Sep. 30, 2015
USD ($)
Dec. 31, 2015
USD ($)
Convertible Debt [Member]              
Debt Instrument [Line Items]              
Face amount     $ 1,000   $ 1,000    
Amount outstanding     $ 20,700,000   $ 20,700,000    
Conversion ratio         0.003743    
Number of shares | shares         4,435    
Interest rate     8.00%   8.00%    
Convertible Debt [Member] | Luo Hua Liang [Member]              
Debt Instrument [Line Items]              
Interest expense     $ 22,437 $ 7,078 $ 68,199 $ 7,078  
Accrued interest     96,852   96,852   $ 30,133
Convertible Notes Payable [Member] | Luo Hua Liang [Member]              
Debt Instrument [Line Items]              
Term 1 year            
Interest rate 12.00%            
Investment immediately deposit within one week of signing of the agreement $ 5,000,000            
Debt Instrument, Convertible, Conversion Price | $ / shares $ 0.06            
Convertible Notes Payable [Member] | Luo Hua Liang [Member] | Maximum [Member]              
Debt Instrument [Line Items]              
Investment deposit within one month of signing of the agreement $ 5,000,000            
Convertible Notes Payable [Member] | Convertible Debt [Member]              
Debt Instrument [Line Items]              
Shares called by warrant | shares   20,000,000          
Term   2 years          
Exercise price | $ / shares   $ 0.50          
Amount outstanding   $ 19,000,000          
CEVC convertible note [Member]              
Debt Instrument [Line Items]              
Interest expense     416,981 $ 416,981 1,242,929 $ 1,237,345  
Accrued interest     $ 829,429   $ 829,429   $ 833,961
XML 54 R44.htm IDEA: XBRL DOCUMENT v3.5.0.2
SEGMENT REPORTING (Narrative) (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2016
USD ($)
Sep. 30, 2015
USD ($)
Sep. 30, 2016
USD ($)
item
Sep. 30, 2015
USD ($)
Concentration Risk [Line Items]        
Revenues $ 3,286 $ 7,154 $ 9,639 $ 20,872
Number of reportable segments | item     3  
Customer Concentration Risk [Member] | Revenue [Member] | Customer One [Member]        
Concentration Risk [Line Items]        
Concentration risk percentage 44.00% 14.00% 14.00% 18.00%
Customer Concentration Risk [Member] | Revenue [Member] | Customer Two [Member]        
Concentration Risk [Line Items]        
Concentration risk percentage 45.00% 12.00% 15.00%  
Customer Concentration Risk [Member] | Revenue [Member] | Customer Three [Member]        
Concentration Risk [Line Items]        
Concentration risk percentage   10.00% 16.00%  
Geographic Concentration Risk [Member] | Revenue [Member]        
Concentration Risk [Line Items]        
Concentration risk percentage 99.80% 99.10% 99.80% 98.70%
Revenues $ 3,300 $ 7,100 $ 9,600 $ 20,600
Geographic Concentration Risk [Member] | Cost of Goods Sold [Member]        
Concentration Risk [Line Items]        
Concentration risk percentage 99.80% 99.00% 99.90% 99.10%
Revenues $ 3,700 $ 7,300 $ 10,700 $ 21,700
Supplier Concentration Risk [Member] | Cost of Goods Sold [Member] | Vendor One [Member]        
Concentration Risk [Line Items]        
Concentration risk percentage 29.20% 22.60% 11.30% 11.90%
Supplier Concentration Risk [Member] | Cost of Goods Sold [Member] | Vendor Two [Member]        
Concentration Risk [Line Items]        
Concentration risk percentage   11.90% 11.00%  
Supplier Concentration Risk [Member] | Cost of Goods Sold [Member] | Vendor Three [Member]        
Concentration Risk [Line Items]        
Concentration risk percentage   10.10%    
XML 55 R45.htm IDEA: XBRL DOCUMENT v3.5.0.2
SEGMENT REPORTING (Schedule of Segment Results) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Dec. 31, 2015
Segment Reporting Information [Line Items]          
Net sales $ 3,286 $ 7,154 $ 9,639 $ 20,872  
Gross profit (loss) (379) (194) (1,037) (977)  
Depreciation and amortization 1,948 2,016 5,825 6,214  
Net loss (3,317) (3,714) (10,083) (13,867)  
Total assets 68,793 81,655 68,793 81,655 $ 79,650
Jonway Auto [Member]          
Segment Reporting Information [Line Items]          
Net sales 3,279 7,089 9,623 20,606  
Gross profit (loss) (380) (189) (1,040) (1,054)  
Depreciation and amortization 684 1,363 3,910 4,253  
Net loss (2,185) (2,235) (6,598) (9,529)  
Total assets 56,008 63,904 56,008 63,904  
ZAP [Member]          
Segment Reporting Information [Line Items]          
Net sales 7 65 16 266  
Gross profit (loss) 1 (5) 3 77  
Depreciation and amortization 1,264 653 1,915 1,961  
Net loss (1,132) (1,479) (3,485) (4,338)  
Total assets 12,785 17,742 12,785 17,742  
ZAP Hong Kong [Member]          
Segment Reporting Information [Line Items]          
Net sales  
Gross profit (loss)  
Depreciation and amortization  
Net loss  
Total assets $ 9 $ 9  
XML 56 R46.htm IDEA: XBRL DOCUMENT v3.5.0.2
RELATED PARTY TRANSACTIONS (Narrative) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Jonway Group [Member]        
Related Party Transaction [Line Items]        
Purchases $ 111 $ 362 $ 260 $ 1,666
Sanmen Branch [Member]        
Related Party Transaction [Line Items]        
Expenses $ 22,000
Period to operate branch to assemble and sell branded products 10 years   10 years  
Taizhou Huadu [Member] | Spare Parts [Member]        
Related Party Transaction [Line Items]        
Purchases     $ 468
Jonway Motor Cycle [Member] | Spare Parts [Member]        
Related Party Transaction [Line Items]        
Purchases     $ 260 $ 1,299
XML 57 R47.htm IDEA: XBRL DOCUMENT v3.5.0.2
RELATED PARTY TRANSACTIONS (Schedule of Related Party Balances) (Details) - USD ($)
$ in Thousands
Sep. 30, 2016
Dec. 31, 2015
Related Party Transaction [Line Items]    
Amount due from related party $ 124 $ 1,614
Accounts receivable included in accounts receivable due from related parties 4,776 5,172
Amount due to related party 11,771 13,978
Jonway EV Selling Ltd [Member]    
Related Party Transaction [Line Items]    
Accounts receivable included in accounts receivable due from related parties 3,317 4,659
Sanmen Branch [Member]    
Related Party Transaction [Line Items]    
Amount due from related party 998
Accounts receivable included in accounts receivable due from related parties 1,054 212
Jonway Group [Member]    
Related Party Transaction [Line Items]    
Amount due to related party 11,413 12,606
Jonway Motor Cycle [Member]    
Related Party Transaction [Line Items]    
Accounts receivable included in accounts receivable due from related parties 405 301
Amount due to related party 64 64
Taizhou Huadu [Member]    
Related Party Transaction [Line Items]    
Amount due to related party 846
Shanghai Zapple [Member]    
Related Party Transaction [Line Items]    
Amount due from related party 123
Amount due to related party 35
Jonway Economy and Trade Co Ltd [Member]    
Related Party Transaction [Line Items]    
Amount due from related party 1 616
Mr Alex Wang [Member]    
Related Party Transaction [Line Items]    
Amount due to related party 4 74
Mr Huaiyi Wang [Member]    
Related Party Transaction [Line Items]    
Amount due to related party 14
Better World [Member]    
Related Party Transaction [Line Items]    
Amount due to related party 149 149
Zhejiang Jonway Painting Co., Ltd. [Member]    
Related Party Transaction [Line Items]    
Amount due to related party 11
Cathaya Operations [Member]    
Related Party Transaction [Line Items]    
Amount due to related party $ 157 $ 193
XML 58 R48.htm IDEA: XBRL DOCUMENT v3.5.0.2
RELATED PARTY TRANSACTIONS (Schedule of Contract Fees) (Details) - Sanmen Branch [Member]
$ in Thousands
 9 Months Ended
Sep. 30, 2016
USD ($)
item
First 3,000 Vehicles [Member]  
Related Party Transaction [Line Items]  
Contractual fee per vehicle | $ $ 44
First 3,000 Vehicles [Member] | Maximum [Member]  
Related Party Transaction [Line Items]  
Number of vehicles assembled 3,000
Vehicles 3,001 to 5,000 [Member]  
Related Party Transaction [Line Items]  
Contractual fee per vehicle | $ $ 30
Vehicles 3,001 to 5,000 [Member] | Maximum [Member]  
Related Party Transaction [Line Items]  
Number of vehicles assembled 5,000
Vehicles 3,001 to 5,000 [Member] | Minimum [Member]  
Related Party Transaction [Line Items]  
Number of vehicles assembled 3,001
Over 5,000 Vehicles [Member]  
Related Party Transaction [Line Items]  
Contractual fee per vehicle | $ $ 22
Over 5,000 Vehicles [Member] | Minimum [Member]  
Related Party Transaction [Line Items]  
Number of vehicles assembled 5,000
XML 59 R49.htm IDEA: XBRL DOCUMENT v3.5.0.2
SHAREHOLDERS' EQUITY (Narrative) (Details) - USD ($)
 1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Feb. 11, 2015
Aug. 31, 2016
Jul. 31, 2016
Sep. 30, 2015
Jun. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Dec. 31, 2015
Share-based Goods and Nonemployee Services Transaction [Line Items]                    
Shares issued to settlement of debt     9,994,038              
Shares issued to settlement of debt, value     $ 476,561              
Interest paid               $ 800,000 $ 810,000  
Stock issued to pay interest               $ 1,246,000  
Stock issued to pay interest payable, shares               18,399,316    
Convertible notes payable           $ 786,000   $ 786,000   $ 786,000
Due to related parties converted into shares of common stock               14,454,743    
Stock issued for addressing a lawsuit               350,000  
Stock issued for addressing a lawsuit, shares               5,833,333    
Proceeds from issuance of common stocks               $ 1,690,000 6,167,000  
Shares cancelled               1,182,558    
Value of shares cancelled               100,000  
Stock based compensation           $ 18,000 $ 18,000 $ 54,000 $ 55,000  
CEVC [Member]                    
Share-based Goods and Nonemployee Services Transaction [Line Items]                    
Shares issued to settlement of debt     8,711,779              
Shares issued to settlement of debt, value     $ 412,448              
Debt conversion price     $ 0.047              
Debt holder [Member]                    
Share-based Goods and Nonemployee Services Transaction [Line Items]                    
Shares issued to settlement of debt     1,282,259              
Shares issued to settlement of debt, value     $ 64,113              
Debt conversion price     $ 0.05              
Korea Yung [Member]                    
Share-based Goods and Nonemployee Services Transaction [Line Items]                    
Shares cancelled                   4,811,633
Value of shares cancelled                   $ 406,872
Korea Yung [Member] | Convertible Debt [Member]                    
Share-based Goods and Nonemployee Services Transaction [Line Items]                    
Interest paid $ 8,433                  
Shares cancelled 1,182,558                  
Repayment of principal amount $ 100,000                  
Outstanding shares issued 133,116                  
Cathaya Operations [Member]                    
Share-based Goods and Nonemployee Services Transaction [Line Items]                    
Amount due to related parties       $ 814,863            
Due to related parties converted into shares of common stock       13,581,051            
Share price (in dollars per share)       $ 0.06     $ 0.06   $ 0.06  
Cathaya Management Ltd [Member]                    
Share-based Goods and Nonemployee Services Transaction [Line Items]                    
Amount due to related parties       $ 350,000            
Due to related parties converted into shares of common stock       5,833,333            
Share price (in dollars per share)       $ 0.06     $ 0.06   $ 0.06  
CEVC [Member]                    
Share-based Goods and Nonemployee Services Transaction [Line Items]                    
Stock issued to pay interest       $ 1,237,345            
Convertible notes payable       $ 20,700,000     $ 20,700,000   $ 20,700,000  
Due to related parties converted into shares of common stock       14,454,743            
Share price (in dollars per share)       $ 0.086     $ 0.086   $ 0.086  
Mr. Wang Gang [Member]                    
Share-based Goods and Nonemployee Services Transaction [Line Items]                    
Stock issued for due to related parties       $ 5,351,683            
Stock issued for due to related parties, shares       89,194,715            
Mr. Wang Gang [Member] | Jonway Auto [Member]                    
Share-based Goods and Nonemployee Services Transaction [Line Items]                    
Stock issued for due to related parties       $ 4,500,000            
Michael Ringstad [Member] | Restricted shares [Member]                    
Share-based Goods and Nonemployee Services Transaction [Line Items]                    
Granted, shares         200,000          
Number of trading days         30 days          
Vesting period         3 years          
Lock in period         6 months          
Cathaya Management Ltd [Member]                    
Share-based Goods and Nonemployee Services Transaction [Line Items]                    
Amount due to related parties   $ 443,630                
Due to related parties converted into shares of common stock   8,872,602                
Convertible notes payable   $ 20,700,000                
Due to related parties converted into shares of common stock   18,399,316                
Share price (in dollars per share)   $ 0.05                
Outstanding interest   $ 1,246,410                
Cathaya Management Ltd [Member] | CFO [Member]                    
Share-based Goods and Nonemployee Services Transaction [Line Items]                    
Shares issued   200,000                
XML 60 R50.htm IDEA: XBRL DOCUMENT v3.5.0.2
LITIGATION (Details) - USD ($)
 9 Months Ended
Sep. 30, 2016
Dec. 31, 2015
Loss Contingency, Information about Litigation Matters [Abstract]    
Settlement payment $ 779,500  
Reduction in settlement payment 453,827  
Damages would be sought 1,233,327  
Accrued litigation amount $ 1,200,000 $ 1,200,000
XML 61 R51.htm IDEA: XBRL DOCUMENT v3.5.0.2
COMMITMENTS AND CONTINGENCIES (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2016
Dec. 31, 2015
Shanghai Pudong Development Bank [Member] | Taizhou Jonway Jing Mao Trading Ltd [Member]    
Guarantor Obligations [Line Items]    
Face amount $ 1,000  
Period of guarantee 5 years  
Collateral amount $ 500 $ 500
Jonway Auto [Member]    
Guarantor Obligations [Line Items]    
Potential payments under guarantee $ 2,200 $ 2,300
EXCEL 62 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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

4S*&(T;5D0.U,)C45A)'@=6B2P6 M/@+_(J6=;B^E;PH/0Q4 Q"Y@\0%ZLX+AFY)2Y.GT1D6"98"\A/\*WZ3[P>B< MH'@O"4M)H:@!S?/'?)^544"("BML"$:)T;ZD$KXV[#<*@P=02)?9O5'P4AH!"&+S>CM9",;:VDECJ3N+K7?Y8G,H;'9 M \BJ&0C_OF0S5%T K7J] AFL)S$N4O&5 I;5K7WDS^!'G,V@M1$^GUQ">\KMAPT8: MK40VO^H6=(^QNK5L?H]6*Y2>Y@!R'NXE*FM@+9]:05 (^DZ&$3IO@B80I_

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report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 66 FilingSummary.xml IDEA: XBRL DOCUMENT 3.5.0.2 html 203 232 1 true 64 0 false 7 false false R1.htm 00000001 - Document - Document and Entity Information Sheet http://zapworld.com/role/zaap-daei Document and Entity Information Cover 1 false false R2.htm 00000002 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS Sheet http://zapworld.com/role/zaap-ccbs CONDENSED CONSOLIDATED BALANCE SHEETS Statements 2 false false R3.htm 00000003 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) Sheet http://zapworld.com/role/zaap-ccbsp CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) Statements 3 false false R4.htm 00000004 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS Sheet http://zapworld.com/role/zaap-ccsooacl CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS Statements 4 false false R5.htm 00000005 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Sheet http://zapworld.com/role/zaap-csocf CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Statements 5 false false R6.htm 00000006 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) Sheet http://zapworld.com/role/CondensedConsolidatedStatementsOfCashFlowsParenthetical CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) Statements 6 false false R7.htm 00000007 - Disclosure - ORGANIZATION AND BASIS OF PRESENTATION Sheet http://zapworld.com/role/zaap-oabop ORGANIZATION AND BASIS OF PRESENTATION Notes 7 false false R8.htm 00000008 - Disclosure - LIQUIDITY AND CAPITAL RESOURCES Sheet http://zapworld.com/role/zaap-lacr LIQUIDITY AND CAPITAL RESOURCES Notes 8 false false R9.htm 00000009 - Disclosure - SIGNIFICANT ACCOUNTING POLICIES Sheet http://zapworld.com/role/zaap-sap SIGNIFICANT ACCOUNTING POLICIES Notes 9 false false R10.htm 00000010 - Disclosure - ACCOUNTS RECEIVABLE Sheet http://zapworld.com/role/zaap-ar ACCOUNTS RECEIVABLE Notes 10 false false R11.htm 00000011 - Disclosure - INVENTORIES, NET Sheet http://zapworld.com/role/zaap-in INVENTORIES, NET Notes 11 false false R12.htm 00000012 - Disclosure - DISTRIBUTION AGREEMENTS Sheet http://zapworld.com/role/zaap-da DISTRIBUTION AGREEMENTS Notes 12 false false R13.htm 00000013 - Disclosure - SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES Notes http://zapworld.com/role/zaap-locstdaban SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES Notes 13 false false R14.htm 00000014 - Disclosure - CONVERTIBLE DEBT Sheet http://zapworld.com/role/zaap-cd CONVERTIBLE DEBT Notes 14 false false R15.htm 00000015 - Disclosure - SEGMENT REPORTING Sheet http://zapworld.com/role/zaap-sr1 SEGMENT REPORTING Notes 15 false false R16.htm 00000016 - Disclosure - RELATED PARTY TRANSACTIONS Sheet http://zapworld.com/role/zaap-rpt1 RELATED PARTY TRANSACTIONS Notes 16 false false R17.htm 00000017 - Disclosure - SHAREHOLDERS' EQUITY Sheet http://zapworld.com/role/zaap-se1 SHAREHOLDERS' EQUITY Notes 17 false false R18.htm 00000018 - Disclosure - LITIGATION Sheet http://zapworld.com/role/zaap-l1 LITIGATION Notes 18 false false R19.htm 00000019 - Disclosure - COMMITMENTS AND CONTINGENCIES Sheet http://zapworld.com/role/zaap-cac1 COMMITMENTS AND CONTINGENCIES Notes 19 false false R20.htm 00000021 - Disclosure - SIGNIFICANT ACCOUNTING POLICIES (Policies) Sheet http://zapworld.com/role/zaap-sapp SIGNIFICANT ACCOUNTING POLICIES (Policies) Policies 20 false false R21.htm 00000022 - Disclosure - SIGNIFICANT ACCOUNTING POLICIES (Tables) Sheet http://zapworld.com/role/zaap-sapt SIGNIFICANT ACCOUNTING POLICIES (Tables) Tables http://zapworld.com/role/zaap-sap 21 false false R22.htm 00000023 - Disclosure - ACCOUNTS RECEIVABLE (Tables) Sheet http://zapworld.com/role/zaap-art ACCOUNTS RECEIVABLE (Tables) Tables http://zapworld.com/role/zaap-ar 22 false false R23.htm 00000024 - Disclosure - INVENTORIES, NET (Tables) Sheet http://zapworld.com/role/zaap-int INVENTORIES, NET (Tables) Tables http://zapworld.com/role/zaap-in 23 false false R24.htm 00000025 - Disclosure - DISTRIBUTION AGREEMENTS (Tables) Sheet http://zapworld.com/role/zaap-dat DISTRIBUTION AGREEMENTS (Tables) Tables http://zapworld.com/role/zaap-da 24 false false R25.htm 00000026 - Disclosure - SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES (Tables) Notes http://zapworld.com/role/zaap-locstdabant SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES (Tables) Tables http://zapworld.com/role/zaap-locstdaban 25 false false R26.htm 00000027 - Disclosure - CONVERTIBLE DEBT (Tables) Sheet http://zapworld.com/role/ConvertibleDebtTables CONVERTIBLE DEBT (Tables) Tables http://zapworld.com/role/zaap-cd 26 false false R27.htm 00000028 - Disclosure - SEGMENT REPORTING (Tables) Sheet http://zapworld.com/role/SegmentReportingTables SEGMENT REPORTING (Tables) Tables http://zapworld.com/role/zaap-sr1 27 false false R28.htm 00000029 - Disclosure - RELATED PARTY TRANSACTIONS (Tables) Sheet http://zapworld.com/role/zaap-rptt1 RELATED PARTY TRANSACTIONS (Tables) Tables http://zapworld.com/role/zaap-rpt1 28 false false R29.htm 00000031 - Disclosure - ORGANIZATION AND BASIS OF PRESENTATION (Basis Of Presentation) (Details) Sheet http://zapworld.com/role/OrganizationAndBasisOfPresentationBasisOfPresentationDetails ORGANIZATION AND BASIS OF PRESENTATION (Basis Of Presentation) (Details) Details http://zapworld.com/role/zaap-oabop 29 false false R30.htm 00000032 - Disclosure - LIQUIDITY AND CAPITAL RESOURCES (Details) Sheet http://zapworld.com/role/LiquidityAndCapitalResourcesDetails LIQUIDITY AND CAPITAL RESOURCES (Details) Details http://zapworld.com/role/zaap-lacr 30 false false R31.htm 00000033 - Disclosure - SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) Sheet http://zapworld.com/role/zaap-sapnd SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) Details http://zapworld.com/role/zaap-sapt 31 false false R32.htm 00000034 - Disclosure - ACCOUNTS RECEIVABLE (Schedule Of Accounts Receivable) (Details) Sheet http://zapworld.com/role/zaap-arsoard ACCOUNTS RECEIVABLE (Schedule Of Accounts Receivable) (Details) Details http://zapworld.com/role/zaap-art 32 false false R33.htm 00000035 - Disclosure - ACCOUNTS RECEIVABLE (Schedule Of Changes In Allowance For Doubtful Accounts) (Details) Sheet http://zapworld.com/role/zaap-arsociafdad ACCOUNTS RECEIVABLE (Schedule Of Changes In Allowance For Doubtful Accounts) (Details) Details http://zapworld.com/role/zaap-art 33 false false R34.htm 00000036 - Disclosure - INVENTORIES, NET (Schedule of Inventories) (Details) Sheet http://zapworld.com/role/zaap-insoid INVENTORIES, NET (Schedule of Inventories) (Details) Details http://zapworld.com/role/zaap-int 34 false false R35.htm 00000037 - Disclosure - INVENTORIES, NET (Schedule of Inventory Reserve) (Details) Sheet http://zapworld.com/role/zaap-insoird INVENTORIES, NET (Schedule of Inventory Reserve) (Details) Details http://zapworld.com/role/zaap-int 35 false false R36.htm 00000038 - Disclosure - DISTRIBUTION AGREEMENTS (Narrative) (Details) Sheet http://zapworld.com/role/DistributionAgreementsNarrativeDetails DISTRIBUTION AGREEMENTS (Narrative) (Details) Details http://zapworld.com/role/zaap-dat 36 false false R37.htm 00000039 - Disclosure - DISTRIBUTION AGREEMENTS (Schedule of Distribution Agreements) (Details) Sheet http://zapworld.com/role/DistributionAgreementsScheduleOfDistributionAgreementsDetails DISTRIBUTION AGREEMENTS (Schedule of Distribution Agreements) (Details) Details http://zapworld.com/role/zaap-dat 37 false false R38.htm 00000040 - Disclosure - DISTRIBUTION AGREEMENTS (Schedule of Future Amortization Expense) (Details) Sheet http://zapworld.com/role/DistributionAgreementsScheduleOfFutureAmortizationExpenseDetails DISTRIBUTION AGREEMENTS (Schedule of Future Amortization Expense) (Details) Details http://zapworld.com/role/zaap-dat 38 false false R39.htm 00000041 - Disclosure - SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES (Line of Credit) (Details) Notes http://zapworld.com/role/ShortTermDebtsAndBankAcceptanceNotesLineOfCreditDetails SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES (Line of Credit) (Details) Details http://zapworld.com/role/zaap-locstdabant 39 false false R40.htm 00000042 - Disclosure - SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES (Schedule of Short-Term Debt) (Details) Notes http://zapworld.com/role/ShortTermDebtsAndBankAcceptanceNotesScheduleOfShort-termDebtDetails SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES (Schedule of Short-Term Debt) (Details) Details http://zapworld.com/role/zaap-locstdabant 40 false false R41.htm 00000043 - Disclosure - SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES (Schedule of Bank Acceptance Notes) (Details) Notes http://zapworld.com/role/ShortTermDebtsAndBankAcceptanceNotesScheduleOfBankAcceptanceNotesDetails SHORT TERM DEBTS AND BANK ACCEPTANCE NOTES (Schedule of Bank Acceptance Notes) (Details) Details http://zapworld.com/role/zaap-locstdabant 41 false false R42.htm 00000044 - Disclosure - CONVERTIBLE DEBT (Schedule of Convertible Debt) (Details) Sheet http://zapworld.com/role/zaap-cdsocdd CONVERTIBLE DEBT (Schedule of Convertible Debt) (Details) Details http://zapworld.com/role/ConvertibleDebtTables 42 false false R43.htm 00000045 - Disclosure - CONVERTIBLE DEBT (Narrative) (Details) Sheet http://zapworld.com/role/zaap-cdnd1 CONVERTIBLE DEBT (Narrative) (Details) Details http://zapworld.com/role/ConvertibleDebtTables 43 false false R44.htm 00000046 - Disclosure - SEGMENT REPORTING (Narrative) (Details) Sheet http://zapworld.com/role/SegmentReportingNarrativeDetails SEGMENT REPORTING (Narrative) (Details) Details http://zapworld.com/role/SegmentReportingTables 44 false false R45.htm 00000047 - Disclosure - SEGMENT REPORTING (Schedule of Segment Results) (Details) Sheet http://zapworld.com/role/zaap-srsosrd1 SEGMENT REPORTING (Schedule of Segment Results) (Details) Details http://zapworld.com/role/SegmentReportingTables 45 false false R46.htm 00000048 - Disclosure - RELATED PARTY TRANSACTIONS (Narrative) (Details) Sheet http://zapworld.com/role/RelatedPartyTransactionsNarrativeDetails RELATED PARTY TRANSACTIONS (Narrative) (Details) Details http://zapworld.com/role/zaap-rptt1 46 false false R47.htm 00000049 - Disclosure - RELATED PARTY TRANSACTIONS (Schedule of Related Party Balances) (Details) Sheet http://zapworld.com/role/zaap-rptsorpbd RELATED PARTY TRANSACTIONS (Schedule of Related Party Balances) (Details) Details http://zapworld.com/role/zaap-rptt1 47 false false R48.htm 00000050 - Disclosure - RELATED PARTY TRANSACTIONS (Schedule of Contract Fees) (Details) Sheet http://zapworld.com/role/zaap-rptsocfd RELATED PARTY TRANSACTIONS (Schedule of Contract Fees) (Details) Details http://zapworld.com/role/zaap-rptt1 48 false false R49.htm 00000051 - Disclosure - SHAREHOLDERS' EQUITY (Narrative) (Details) Sheet http://zapworld.com/role/ShareholdersEquityNarrativeDetails SHAREHOLDERS' EQUITY (Narrative) (Details) Details http://zapworld.com/role/zaap-se1 49 false false R50.htm 00000052 - Disclosure - LITIGATION (Details) Sheet http://zapworld.com/role/zaap-ld1 LITIGATION (Details) Details http://zapworld.com/role/zaap-l1 50 false false R51.htm 00000053 - Disclosure - COMMITMENTS AND CONTINGENCIES (Details) Sheet http://zapworld.com/role/zaap-cacd1 COMMITMENTS AND CONTINGENCIES (Details) Details http://zapworld.com/role/zaap-cac1 51 false false All Reports Book All Reports zaap-20160930.xml zaap-20160930.xsd zaap-20160930_cal.xml zaap-20160930_def.xml zaap-20160930_lab.xml zaap-20160930_pre.xml true true ZIP 68 0001214659-16-014599-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001214659-16-014599-xbrl.zip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ß,7!LQW#4%A M,<8\-X9UW!D+FW'M!X\\13%[A.TJ^-B%G,G=Q0@+I6)@NY#53(%^QJ%!O:%( M J,FM[% Z05!E1*2%TGA@KD/2VJ15D0=P2Z(65A_-B*@GFNE \/M!5@G^YM.OUY\N;[J8FF@*5;^6Q_"ZAX.=*91JD5-Y3M$KLZ0#/P01B?F2J!_D MS,ND!<;\?0\%CA]/CP--\Y_YBA?ED/,B?E2)X!O]?# ZEWAB0'Q Y "P$QFHW O4HQPD^"J1#/4.Q7CY-R/?9:JTA;\#(62/(WS\2X=(;O MZ<5[>5U".38:NW[NP; 32$Q1LD,_S$?Z!/#C>/GXL-!R!OBB-Q-.F-E=<.- M(8S8>+&??,T7Q5,]E:6Q37GT\?P9?'C(P$<-\M#GD!GL"=@%_$Q9&$G\Z%%2 MA);]T&>8>R1!QFEV#Z<_=\;SS9>_'NC33$5E0+T'5C4>X)YBH3CWI'F:MI_Y M07%HKKS%[W,F7:&U>$7!6LM>H4)YTW'$ M/I.?:ZYGO2."I\31K82Y9L.M=JSYY4_-4^<:ISSK(J09:S6J_= M\\[:(71!YXCEU&YGV79,"<6;X^2"9?B*"/"TUQ/K_,2CEQ@U+N\D:*6^Y37H MR5 :!-'3\2E6TP'%>E2+LLY56S>/94W%/FF:4\]$6-Z?I%)DLE'L;'D$[H*7 MUB58JI)\B$B( ;WW/$T4/GP!)]E_1"BV#<.YUL#K>]3I]PW=L 8N(;I!'<4T M%-TF?95LTJQK<43.V4% ;F'O_:)-O=+:NV,VM@%>6N^N6EX#_+#GL*W:JV6M MC5??&K&#?6A$&#P/X^T]>%<&0VN0P7:74NRG-[J@T88)I!H1/1B)UM;^[271 M]5R (]8BAV?&74Q;F_#V(P8%DEO"R#5N&6POCQ=N ):[YA;_3 WB3%U8S9DKN^F[J.=![JMD@50[;M/05_#KZ7[81*L$4+ MV<*45;MV"JV3;'%"+NPN:HR.SSK?_(;4#AG1MJSHS?/UP3?EX "T$"==)U3# M.)IXQZE[>Q_PD&O5O;O QI9ECQV\H3@=9$'1S4BX>QT!NGMV[1M5[NF=]_>: MQLKW@N&Z 70G&<[45<%PFS#<=F;#LKOLN^.WWO.62MPHJ$2*93PXOJ7(JHF= MPW _ ,>,HH#6E%E'DJ!:$QW=\VI,6>GMWOIH!VVW$RK!<:?&<;T]5$X>DK;7 M.QNQ]JF&XH#$WW/C%![\^RB^ROWW8NS[)HY%4%=7!ZYJT+ZG&&;?= :.X>JV M:=NV9>B>(HY%M"E3($K.Q;&(=M:<"QH5QR):3J(GE(K.SU_*4I\^^"&V]<#3 MTKR!G$A.M]=/Z+83L)L8Y,$)\. " [H"@<8>N]8Z+^QCCKMUY;_BOV4GD6# MP?:J<;]9K18FVKJ=1CO;!_?N.?-Y: !:B)-N$^F;'532BYQNG31W=QS _*X8 MO/+ET4\6WEVX?A#GX(9P0Z4G;0:Z@S:OLJ?8T,%WLIU0":9H(5.HLFK5;LO: M2;;83=54=YS&,L1*0V_CX.J&:.E(\49++NL?I$=S=*)[DCF\CM5$V(7W=LE4Z4!1#&YC$4 :: MIZENOT=HS^Z+VBA1&W7$=2>B-DK41K6=1D5MU"&\^2/6(H=GQEU,VXINI@+) MHF5LHV4;4?P5KX7Y'$M M'03_VI ..<%ZQ/=^Z"=#ZDD/4>3MJO%^HP+9ZY-('6/4'NRLI^C MT<*9V[T"8GW&SR2_J+F38@H//U+AUG4#Z.[9KV]46>LU'[7<,P4VC95=]1-O M,^T*AML?PW7>8SP,PYWZR;BB%M_'QW;70ERC*P/-,Q5-ZAC@-UZ98OSAI)$[#M?.HD:!1<1JNY21Z0H=H1*?P=EB_IW6> M8#?1Q8,3X,$!$!S0'0[0G;V4X8OBJ]TV5I7>Q-2- *C)]^R6[7]$X1.92!=9 M&FVO/T752Z=#6NK1E+P(*CU>*GVCZEVJ(>QB4K?[-5\K]=ZT&NP_%Y^;R/N* MZA11G;),8NV@'<-)E*8(;CLXT-WC-D,T,C_FR-$XG:SK;QXZ%BX*T+H2U==DV,U]I/U%":;@ ,$![AFPHA^M&=-@\4SN@$GPA M^.+@1_A;[**VK,WL\9K@C5:(M]525BW9/!Y365"JH-1N4*IPZEBOV1\D,HH MCK\)%DH(OZX;0'?/?GVC*K+EJ%TW8)M&RZZ.%K29> 7'[8?C>K*E"(8[P(G$ M9265)^"?;HB*CE1.'TEJJ;'*Z;9Z*J;LV,VW!V@G;;<3*L%QI\5QEMPSCYOC M7FHPN\'1@R6G%J[!KQ]AB=+[+,UB>E'QS:^_C6F8T*;/,ABJZ=J.[AD#8O1( MCZBZ9A+'='J:VZ?$;>XL@[6#LPS%,8D&V:!I2PI&SUCT3)-&,- PP;.@U).> M5]%GQ?.B+/48*R9;3*0@'VI?['J*X?U#FP^;V09F2U:KRH9QHFF#U7&1=DN% MVMTI:J^W#5*A"PW,3HYYNUAATF[FK>V/G:)*WVG&_N285VC>AIE7J[UM0O,* MS7MLFG?#%F8MYNC[(8TI&:0TWC*A)GH)'CSAWUIMOX.6V&TBO[TT$VRS#(E2 M$NPH']^*TAO1R6S+[&!;39G#YN-W2=L5L?1R3G#SQ-[RVRCOAC#(/8U'5[2? M;IL(-#77L@;]@6-:KF$Z+AF8KF:IBJD9KJ68I+M-S2RCM2)])TW-K"XL5W1S MVWY'1#>W-K7*$C2Z,P*I=G.33KBQVC%JLBXIK8U6)FIS=BEK!9);(J)6!X5V M);T:.@P9D5 :Q-%(NKRYO[D$1S+\VG@"M;U2[@U9]RC:P>.YH@*L*]7AIFP: MM0L,VYZ'%AP@.&#MU>JRLH/#SYU(Q*R.R';%,+BY?'>YO9*<7WQ[38)^ R:! M*$+I]"%R0S9ZS5]1=_!-.3@ +<1)UPG5TO:B8(^F6FICK=MP<\O.N,C-YJP. M[CR(&JX&Q%AC@;QVTD@[H1*4*RCW@"6"QYB%VQ057<#$GG$B:B>/HG:R+8Z- MJLB*L?N"AW80=SNA$BQW6BQGR[:B'27'54RD8+9](^/4"++QQ M2D*7?HI2VDQ[HH&A]?HN=96!0@S',7NFYO6)9UH#4Z=$ZXFJY#9;D1VN2M[" M?%PB$415J*A<;FCB\NA> M[PC+HP53"*;8)@BK.,W[UIW(2WH M6EWG6$C/UO_<1M0\&TJI13EMJUVC\[VDS@Z^#X*+FD/T-WC$L?< M?1V7J'?O4D;SI.K=MZ^!KR%^18UN"V._1U^CVY-[=O.W([23M@43MH/F!!/. MGTTQ9-W:?0'D(8E[C6M_5]; SW?ROHQ"!A<\PVKLFRB85_6^[0R<@3HP#4-3 M#:(H&O%,;^ 01^OU].X6S-M*%XROFKQ05EOI1UCD*@JSF].L1TTHU6KH@]') MJ99@GYH\/=KJU1-??M/%N[OBBV:*=^]HZ$%Z2AY8#M*'$>.IJH_2I?7 M?UQ*HJ%OJWW#;L?5-46V=G"CT\$I\. "!80+-"]1-*R%-A<@*;=FO7R)97Z M,3Z7/F21]%M&I \^"1^D]2LZ-\1:JU+ +:F<:RIOW=; JKV#TO=VDE\[H1), M(9BB8S6HRY(D37FW#7?P:D6=T]J)R2.QO!M+3+;6.%=EPSI#WXNTG^X[:E 9;A MZ=[ <'2-VH;G6$[/ZYD./$\]EPZ4_I;U *JRKX* @R>MFJT]W7A-Q]%)JQ\% M7EV<_R,*G\ADRU3Q.A->9&FT'Z=CWSZV(+@Z^_^?B\]B^\7V[T?8_(8'*_\) M_R=([G1)[CY*2=!1 E@O@K5C,VX=I+^/8BD=4OA?3*DT@O>'B41#CWK23#&C MM$Y=X0X+;]K>K&^'HD6@4Z!3H/.HT=ET19_98(RLN:#!@D_P:BHE)*#)NM'% M0T=[.Q+*W5^=4N] B]-E[7BJD@2!"P*?7]P1-DH]. ""N%M"W,UW]3DX;1T< M $'<+2%N,$U$1]]E%64M]U&DZ<=?XRA)I'$<#?Q4>A/ 'PT<-#K>7J#M% ES MBSN42'BC.\TW<6GO7@I&$8RRV>+4#G')YH:A(.Z3).Z]>#V"N 5Q'\;$V4\\ MMB5[6<_$.=D,S_33%1W'U/59B:]$0D\B(RS]_9M](=(_79,V+8FQ6(YQ+!$6 M0=Z"O)^Y0;)F"0(7!'ZT!"X20(*XCY:X5;EG[.7&*)$ VG61&J9]1#"[:W*@ M+2$135:=YH\*MW5>_%VI&<4_0D&V6^AAS 73*?"$JT M"21!2H*4!"D)4CH\3@0IB9CDW,)WW&OU>!VZ=F8G6E*49.B6($'CGFJT>;X2@G2*A)<54;]3] M>"LMV4O!*()1-F24+A6,"S9I,7*/FDU$Y;D@[J,E[C=JKTN-YO:C!4XV6;2W MMJTB6G.2T1I5UJV]'',1X4A!X(?)) GR%N1]M.0M4DF"N(^6N#594?=R;Y]( M)76C;:L(B9QF2$23-5V$Q@6K"%:IT;;5V,^U3RW93<$J@E5:[#J)+)(@[H/H M 5VV59%'.O$\TL[:MHJ S$D&9"Q=[BE'4]PK*%Q0^+-\J"W;1I>NO1 4+BA\ MK<6)0-M\'A]B&=0PNT/<.Q.N:R"T $>0CR$.0AR..(R./$@J"B M\Y)P,)KSGF5+$P7%@L"/EL"/I^!24+>@;E$N+XC[9(@;;!/]:*+[)U8N+SHO M'9=(:$L9F"HKAK+/4'@GRL $JPA6F5_H=1?$?3+$C4:.;G>( MPO=CY)QLFD?T3#HXA1YUG$67>^I>?"H12!0$?I <$!#XT111"@(7!"[20(*X M3X:X3=G1CD9ZGU@:2'1-.@(YT):PB"6;/4>$102K"%99W2W#<$2#,<$J@E5: MX3J)3)(@[L-DDA19<;I4"2!22:)MDHC(M#TB8\F*LA=/3,0X=S;'FT\@9B0!>DR#M/#2QCTXA(ES6!I $ M*0E2$J0D2.GP.!&DU+S5N%FSS<+LW;$5N:->FGL-[!S&X3VT8-@S'*L]TK:) M $$>@CP$>0CR:!EYG$:L:<>]-(_74&]GU+DEU3::(EO*7ONT"U=44/A>*=P2 MY"W(^VC)6]0""^(^6N(&Z\2Q]W(37(NBFT=8P;N3=IJB3N8DZV2PTY39I?M/ MMUVP8!7!*ILMSMY+0S91,"FH^V@]'T'<@K@/8N7T.B6\]V/CG&RB9V_=-$6< MY23C+(:LF5TZ<2T"B8+ U^VF::F"P 6!'RN!BS20(.ZC)6Y+UM2]1'Q%%J@; MW31%4.1$@R*RJ77I=D61^FDQ]2L(O)(@KB/EKC? MJ+KL6"*5=.*II)UUTQ01F=.,R.AR3SF:D(R@<$'ASS)&MFP;1U-Z+BA<4/C\ MXO822!/$+8C[$(MS5-DRNW2;3/V<$?N;] .*7_WT-DO.'@@9_W#G#JF7!?1V M<$ MF:Z\^B7?3+:,ESXNQSW[Q@\]BF2@6^,U_*(?I6*W%/8/0_G%"/8Q320OH](@ MCD92S!ZCY84C3LD^=[/K_ZFCF59CNOJ%O$,VG.)XGG$LVV#&JZF*?05$&'L MT?CG5\HKR:4!-M9R@6;*O\?$\XJ_V4)^?N7"#M"XY)*"TY7OUG545_K=^>1G MG%%^D+3QMQ9XV6OORXMBM;$UKE)19=R-.@0U-D@*5]3-B5&5I8-18_/FSWZH8[W8[)&I M@P/QVBZFK4U6.Y1G IUM*%F;\Y%LJPW)DL5V! G!/9+>@;_C#J5H(/UG2/_R M2?@@_?[^5KK( )2H[X/OM:Y07^##G/6V\6%^E$8D?O##,QP9!G#&*5O!1Q)F M W#5LA@DM709GG91:QA(0T=:V!EX6)%X;D@_I,E_EZG[G;?:UEZ MFW7\$/3YD/C2?\AXO$B5KRL=CK>V:B>-B5O&Q*IV-+=N"2H]6BH]FBK5]13- MPHA3ISW,?T3A$YE(UVX41J,)Z^%P'Q./EJ[:>1,)A(/;L*N#MZTQ?38%NG/F M:O,GX-M)>^V$2G!$^SC"VE?*KA->W3SDQA+(]^3JY=34CK1\35PD3:2]O)!T M:1+3#2B)V11#/@'\W(^EM[/C;)D*;:"<\R:4$-%8HBI+Q'5Y<6=,7>H_\GK( MT TRO%O3#Q?^OKP.=+,:T#6152G:M!S7Z1DV(8[G&7U=[Y.!:WH#4[=,3U4( M$46;AZ[2$65RHFCST&5R@AI%T69[J%$4;8HJ0U&TV2)T=JMH['E/4:HE:K:X8YH9LV[O/ MW+>#M-L)E6"XDV(X4U;MYGWA-I'V$1='5GM=IM'"3I>=;G/I:([:M_O$[*NZ MT3!8NFUZ XN8HF+R8"4R2T2!J%D3%92'KED3U"DJ*MM+G:=94;G' MVKR3*PD4Z-TI>D7%)<^E]693:;_"(L=K.M,;!;';D%H7A6>'7ZRJRH:ZEYY> MAR- P12"*=9L)2!;2O..6B?R:(D?3E,9/41RLVP1*&)C';V"JQM&TC!.$*PBW MDX1[0JY1V;0PK[+[3/PPK?8I7+<_L+ ZA=79&:M3D.TID:W:?&NE3GA+K>QD MN-5.7I)T2"9$NAW3F."%5PEVV24/=$3#M"&MU::N6:)G6ZLM7ZWY-O?MI#[! M)NT!NGMLTFO^2&*;J*_=K0U7*.6#7C5=0ZR(CF][X%#1\>W9.6K;WGT_UG;0 MMF#"=A"=8,(Y)M3EGNT<-1.NZKM87?N2SS^]S9*S!T+&/]RY0^IE ;T=?.%- M#C^3.)W*"O_^>1_]R?_JG>G*JU_8[DR[%5)BVW1 #44?V,9 MT1WJVBJQ+*VSO0/=V M4'%(I8$?)ZFDRR@4'NG0=P.:K"MBVKJ^UX8AC6EK,QKRI[<; M*:Y9K3@I.RD*?/\/'>B5YU/5')$A^?G7S MZ?VK7QS'UBQ%*Z!=/F$!6*'.WY'$3VX'%ZZ+#8Q!YWV. M^=\/_?2 ]7K(<: MF]R/ J]NHU\&*UZ%]QE61\.4A>8E$GH2; 0+8;%OGN]XHT2W,A:Q@]E6#%FV MA&ZZK34J> *D,1J3<()I^RPDF>=C:VN@")@FX9]RY,,? S\DH>N3 ."$+S!A MDDA^Z :91]EQG84/X/6&%Y]EMI<^_)UD_<3W?!+["!]^BQVTQS$=PW_AD9!! M%7LP$@73.1U*OX<,JCL<,Y'>\/UQ-$WY\??SN_/R3_7'[Z4'&M*8!,$$!\'^ MOAX;C9,_3 +0^N-@;I1?+RX^SXPRB&* (P74C2IK\D/X?L0)7 M56C.J_DIW \?K-M9-"(4?90WN)?L[R%)&5JY"E"^8TP>1T% O7/I#@C+'X 4 MAP'9,G,BD-**I<] [9, MX$W.:>!/P)DI'R3W"I;@D\41P/<7692S R:D(!M M-(P ,BVJ#/,CN%SA60$9;A![D28IGS G+38=_6_FIY/S"F^6GY"0+_/)\LU. M^!;"?W7[W/RN'%=B_=DI$J3T&^P!:\51$":BJ?K@W.EH*4L01'R= R.-:#J, M/-SE"HWUJ4NR!(!/I2&!;9K!]2#(*))U/TMA[6FQ*^?2#85.!FU/L0D8>DD> G-*PW!B$FW,)C)$%^;;APHJ9?.!$D%FP_M2'MV'X MXDE.LO3;F+I,M@! ;.8,UCJA)#Z7<%^K/%4C40D;'0,9A!G#XCB*4PF>*H;_)Z #^ :_N@ )$DBJ M(>,KUFRF>*5W74\=SROQWQ,P3*YAKT=,^C6JK.>N&ZBIKQ=J$P 3=[<$=&W5 MN;^K#PZA:+EZ*WELB2;%W44J1>'"B!8U$U DB)N82?6IH /V&9&OP$ E93!- M"F;A:,SE-];W6:#<2A**,B+P2=\/F(J2X<%'&F:4#8C\ M"89 KJB+JR\\/W&#*,EBMN=(DD#-J)[X>.S9RI"I%5HNTF4+FC(D2CS^/CP)4BF-8O2/&.9 M-Z.TQ_?AQT<0AU$&>(?=B)]O575W^Z D 1.%E 2AED0A\RG )Z-<4KI^[&8C MH!]$AIQO,9>ML"E/X" -4:J.V"]]9EZCD/TK\QXXO9%^!&JHE-P )!N6Q#$S M!Q\)**L*E3S?U0N^)=41\I=&9 )$ K075W<<= $S#V":I$*Y2\7H5'3."L%Y M$?F%$\V7*4D@'3LAH.^:5QWAC.K[!/D%[J;!DV,T\2,\NF. P&ZG8,6# M?F.GITK?(GW%&EA:OZ=1ZY7D!L#2P EWG]]_ (G%PANK@^6S\7%5V<%E/OG8 M2#ZO2FFP-$Q50.)LUW]]/J251N-*J7*MI&=)$SE(! AR%R!-J>8S10PI-"V(?--1# M3&GN1# 5"(N,1B#2P?D%#Q8-OIBYHL!\'@7> K>.QP'8M(M!.M\VB37/(069 M;'=SV"J>,@R=:#W/,GL6,8R>[@S,GFFY?=72@+5<3?!49WGJCE$^.'9 KF@C M^=_0EHM+DL:-G.4@M(?P7U0VS)9#FD]J##,U%/&-,9DP)L7?N?7TPGA)UO^+ M6?)H(P^RD(T]]?//F\L2'X;!^K1GF4[?\6R#&'IOT#=LQ_!L6].<@6YZKF"P MSC+8%:@9^&W"XF&1BT$J#!U5.2I#;DJ&_GC,0FPE0Y0.9P2N#M=$0/9/8,F! M>IE1?*5RXG%?=(KDW!@$7CP3@J@8#QPU%AL"-Z9 :N(PJKV MCTD^ <;.YN$$!_#][;OIU^/([ZR>TRREKU'-L!6/&%K/[<$_EN'HAN;T#>KV M!!MVE@TO>:"$^^\3U"EE6(&IM RY1-X)9E:BI[4GU2#'K/^&+J6"A/_[< M%X]"H"SF7;#PP$6?3H8)2!8028[0/UV#H*K5=:AFJ"S+6\TP5 MO ET*L!!%S*VLS*VRB1H[7#Q@S%WJ8]I,+0.9ISG,B ZE30HE6#38[^?X:TU M .H0)-W?7%X2#..7"3MT_D?CZ(DE]X#M7$PH\TAR,4TLO9F)#S#6_+ZC3L) M[2E*SQYXJFX8&J&DIYC 0. A.)JI*T1P3J MN0:9Y:F.$K<"1K9AV:YE&([A6$#< ]=Q:5]5^@XQ2%\0=Z>)NZH63\HS; M.(Z\S$WSTAFL72$N2'Z6XR5,IJ-=36(P=TOW%JDF+STJ%,>/:+JVD_19??TR MNJ<#U59,2U5,HV?8IMMSJ M?F1IQ-(T24]!]XW3/,YA[)'J/TA&O7RC2]=-: M(UZ.(/GA8P12WT-VZ+.8:SMI>2\)3\ !&FV)%$:Y,H1O4HZWPL>WD4&']94EM'4V2I\GL%I14"2BKO,%)>.-UEY+%* MDW2^HO;B[G)N4E->O%WRM-J*A!)\@\$M4+18T1GU8?D\EN2'XRR/%8W\T!\! M!S)9EO$JN"Q\_BR+18_8DA!J5GK)JF7.I1M6"P4/^\D0)Z[\* U!Z1.P;B>S MYF\ ;,D"*+B%8\KV408(,48. M,<;]WRQ*F27C8YTB.]' N')$XJ\T31IW4%M!G\2Q-,VEN@6^JJ&H/<4E!:#/9NER>DAD2LA%&3[F>5(,118%GY/G M9"S/C<>.7* B8O6O$99^COR Q$OJ1W' ?*0I*'AV@,\B%TRU#OSY*2/^H@?H MP=@K\ZL!'#<"5=B/8I;8Z4^JR^9P2&"MD,;=CE8PITJS\>*O6,Z MB)@'B.8J._13M5<]7&4T9N&DZ"F)GF( >'\IS8[R>F[-G<09I MQA#LHQ57Y$C9<8:I(7F\3GO)IOA"(^U)[I^5V_-L.69)EYVEP'*6./K&4<]S MXE/L)^7ILSRVD@RC.#W#6+D4DC0_K\'+[Z=&?G(N,83B6I:#Q8:CH<\$:I. O?T)9+/D?"_G-%R!,ZF **.I7QZ$8W*X/',7EY&*964!_+@& MD_^YJ)\O**CH(AYNF@4UR:4^/_N5LU8:$Q1H)>2 IER%YYQ9(TY2.^SQ+%X" M7 PT>LESXS/-5BY"C_V9'R=M+'XROXI-TNI;A4WXDJ5BS5)EE9U-]^\V(%B< M47T:1EBY#2(=*+@\ CQYZP.9ER<^1]B(G7#?W(^KAU.+P@WX;?90]14,2^*Y MP]5WKV>B)D^H=,"[J19Z%%,E#+K%,_$D1;[5($F^T!#8M>_/3/;EX[OJ9#)( MLB)D 2S-ZNZJ8[ J_3@*66%0J4/YVJ-IEU]D:ZPKR?"\Z8(F MOZU4.@L)H[(!,](Q/]X.QC?;AIAAJH(!GX=*/G^YY%53TXC/.$K\\JA;Y139 M,CD\A]:*".:'I&$WY3SD@[Y L7,R.L?\E"\_FEOY;6GI606DQ5%]CT?M MIN.W@/"IQRVX\N@[BL;LW59Q5J/#?/ M#X"2/,Z&(RW%='ZL?0[()?O%J.D9.)4#D,]PF#\"9B.W<\C83QFMAKS8!7,; MBT"[RN@T(.CF"ZEL]1QB9N*DQ8:F4PW# )/+4[!%B3$F6Q=O6GEP-A]S&B09H\W4S2PR4$3C9,Y(AIR%X MH1I_=]ULE'$\WS)W'H5*3(8;D(8FU8[>>Q3/&^MI$L;&<0>;#BJPU0" M[K70B],J2C26)S,1]I@BU.6!=(0< 4-S/?9Y Y7IT?%%*F"J/,II M&&47=3FX_E)4+A4YT^.9/%@196F =<.S1L,M,^ M-KRI!(=Y_;+3W34:JOMHM9:HKSO&P!EXFF49JD%ZNNZYU# =2DVB4J=V9T27 MHG.VESC/TC./C2*^V>[3F\+,T;HMU#!^AA_NL-'1J _20E=X9Q(&=;;8S^O: M@EY:RUZAPBXQ'4?L%5@F'*\J(Y1UU[->A\13XNA6PERS*W8[UOSRI^:I2$:8=$"2N(0[=LU"7X'6]>(G'TMJ3^C)6V=6[:B;=:Y;>NVN MZBU?TW237N>+,WIJO3N9=M8-N@LZ1RRG]IT3;<>44+Q%#6L>$IQO#SG;S'8: MA&ZEOF6=>LJ@Y)%(Z:EB-1U0K$>U*.M*0Q8GVC?- ME\\GWF%9E5:L<13"1Y>S^1[ZI#>83O]"<>NJ)?&SJVE/XK*-6?:;4+K('F!T M%CCC6,2_2/YR;S[RQ1<)ZU.3'?Z2'S.=MT!$Q MU;*C%VR*M:*R12>J^9[[[C/PW1Q\IEKB*OCLF[PO1[(B1\;SSN6RDC%UV2PL MW^!Y<=Y;I'B>[T'"TV>LAT1YP(%UDO8RMPCZ>WB@,LGK5,?8P\XONOF4T[$$ M'3:=9ID-'*4H$RK*+# GZR>82,$6U+CGCLR:=<-?#,1HS!,=":;)1MB&:*Z3 MD9\4!5SP?)%C*P"-NRO/J\%P(&Y/DAU<0;UA!L5GN8G%OWKQLJ2CK:B3' MT*(31\"XMVX:832S#N?" SS-*-V3;[1D5]M =KW!MH?2F73-"RB9%AE@PQK8 MJSR5S_.6]UB&?!,^PB*B>,*WGL F>'PC\L-#L[68Y2$]-"P1@)1\8YL*#U.> M\V5=$GT$XJQX+P>AZ*#(Z[&GI=!^ 0,_6,02Z^4KV&FEH(I1]%@T9<0($E(O M2I@H23&96VVT+*'V""KEW^4!_ 2U$R;(0TS083=Y8/@X?;Y^=DW #'>-LSYH M4>"AA+<#8LOS\PJ]F9;KTXH*G/7!#T-6U3H HT0JX]8H@&$_;3DWTLM+ U@/ M^OEARB-*44*73G:.C=YY/QJ&W@)".3^=^L+B-H;?*0K55T"^\02]<^FZNR+K M5*74&1+VS'TWA9ARU%Q,\4K9WR@RY!"6\(#&!$YUIZM"2BZ49(*_>72*:\D*RKS^C2DH,:Q$I$WF?GCYIIUJT'F MP=>&H,N?#R.79_^(A"4KK$;7]=F%*-C,W^H)O -WA+H Q3=S0[OX?MA:F>82I*DLOR_HC)%1F1!YKG#I; M MGJH9^.KA;AOXEM[*AQ1Q.[BB_52= >M]'(TX9#;L<1H5GV>PN.0NP%ZO9RBZ M\\)=@)59=P#AG[S;T)^7]-']R.1\C?L+;54%?CXXS/@.KUBM"[FJ.9IFK@EY M043XY24[?H0&#?\$JF/:;(++KPUH8X%DLBW34J<$7'?N'#SPF"M[A M08-?(S",+T+O4Q32T3B()A0,IO@1#R%64A/_AW=%@G=R.YC>!9?0^JMS%Z]-D$9H8P>=HRHG_SQQJCH7K;P !.D Y%FJ0 M@*F;JN7HA<1?#\C&%G@U7=TL<_]Y5[GULZ#S#9=JF/E.[VJIG,#VMIG+K(^> MVC-LU7QYG4MA?<;Y+^!I*N!O!Q7I4[G^M=XF+V?R%S=4-^J^GJU8=NZ8IV.^?HL; -PS3L(T5 MEO8R*!I;0?,TUHGU[DCP;D&3E476DMK\^_=17+B@31'F>J;$,S 61@H^LQ;. MST/G,X;/R^8N3,J&>@:O%IGZ\B!X;$\^JHYFF,\<%-8%H= '-!/NZL,P9 MVY!EU>:7N7I!AJ.JUC/IM=,%+M9J'H^^Y(31/',%XJWNV&W M'\:7VR=F=HN"&=^C* ^ZYRTSK\@$XR=8$1QC4OR2!"[K\W091%C1QQ:X/QS^ M\EE7KG+G8Q-(&Z,R]G]_8(O<0K@N3#;O# O_;H!,%JQAAA3FR6B.BCZ@U[1W M+OKEL_4Q)X UX*NW[TW8.*99@X# )]I[ :S2L RUB,XNF'H>4^Q0VNW@7P29/[V-O_@/ MP[20D]-X-XC&@'KO)OES2?Y@\LQ71VH#Z[1J#V 3Z"0/Z6QG!W%U5\7_EN#7 MPL;U-QJ[?L(=\?+'<@QU1SAX.4Q@KD+"*JA?-NJ+JL8%Q;N-KG">?'OS&_P2 M6%LMH:[A^AQ(3;&; W(Z^]3P_8)"I"G#^W.V.,RDZ"SRO#98,[)M]JWWQ*5\ MT5>4=0_^%SL;TV&#[>#"VR RDZ"+@SU*?J?'[+HMXQ\\,DB MU^DYJ;U=N=D, R:GTNJ4J/97W-HAFZO6<2;A)^RU%[^R;K)N&W%=O9,ZFW M OQY9C: MWM#;).2ZHBXNLW\)?@L],+T ;?PNU>MO^1G8ZI>W@RL_*6]&6&Q%;AJ%4G6C:A8V MA>%KM! MC,NP#7-GBRV(AP477QB[F?RH,^N*KIIT:R W*1G<%$BV.Y?\EH.;L&RQ\H6R MZ[J:P-^972EF7#K3AO!L@"K-7 .< IV_$C_$XZFW(=!E<6T/N&B\24T#6-+T MF>U[<;[M@&LDT7X3XMT/:/+P_]Z$^4G[A/78>MR\$'>.>'3;GCN]MGKB1H#= M@++.M+G0=3/ LN#$](5%YL.FV%7-%? NGKLQF'=$BP4W+SD%L3::>KT5:*I, MN!UTFU"=-7< :4OP/L<4FX=?T0&%3?-RWP;4!U,IS4D\W;)6@%T'DAVM9Q.] M8AA[6<]51M'GG3TOUZ10T-05ZW@)@H;AWX0?5,-:I3.V6T$AQ+^3W"C:A*%<"/#]K W!N@EG# M6$7'ZP.ZX&QX@[I.90)ME:I8 D"CP&\D.'K.*C&W#?3<*FE>UYUI^BJP%TW= M$,";Z#U[E:5:!]Y/-,66TY]Y$TCOW>3W!&5,?OXH?+C IH&\E(8%03-, D]O MWFW$F=;461MU.YAVO,+-=.D<2S2[PJ)=^'UTX;*6PS N/)Q./@X$922==WN,#JQG^AQ94 MV$NT*-7&R?*Z[NK@C5A0JK:<#->"9G?+VHBY#&4WRZJ^/)?%W<5IOA>FVP:R M1@*WA5YX'\734W(X-[:'?GZ&95-7=8D673YK W V@Y\*S>&!+'29&D>/I"HFX&UQ&9> M8''MRD_1=;.6GU(3I!TOQNK3-]HZ!OE*1H#/3%3_$#N/.!S&9J2N;2%>L T"CP MFQ0M[AKTK>]U8+)=J0'EBFL=-@-OC5K$@\!GU$'?O*F^)_C*$N\:*.PUL,,S MZ4O? UG>;&?,->;9RK1B7$83J KIY_$TED5$K%UYI]TR:@B[I,;F*E M:[J]4?/2FOT6ZX+>7#^I93"L;(6XB8VY1C/QU4T0MX*^$01^\/^;Y7?JO2.) M#R)P>B/7/6W[%<^?;N^O)4WB=Q\ZFJK^*'VX^;_?;ZYN[O\M77RZDBXO/M_< M7WR0OES?W?[^Y?+Z[O!WT[?FAN<+=L'J'1VG_&(Z79$K=S'F5\J5J+5_+.^6 MDX)*@15>GTK!]V O%0\07K2)5QV.QW'T#1@HI<%$>FTKYSUIY =!<:,R7CM' M64<:8#2\*Q$OEI*>2"*]UO1SI7A6EIZ&OCN48N*#(9ED?>SID>)%=%Z4@>=+ M^E&6+H6;0\LNG76Y'X17N4I$>HCP=CSXSJ5Q>"[=A'C;,JO.GT$"N_$UQDX: MR*12"!HTB/!*YG/I5_\QOV9VT<3TVYBZ[#X],O93@!:_"&&&+*;\@D9V"2%- M*&5Z:9#A+\_G!@4^CNF0A@E,!WATRXY-#('DD?@!&R")LCB_.7>0A5Z"RQQ$ M =XQ_4/W2#^@@_35]&EXD-V\)_G>SZ_^5HQ^KZ<95L_M&P:AFN.IBFM:2J]' MU3X8X[;G?^=P//E>.L1% M*]^M>7GX%-AX]D]O;FQ-'>?+0\2DWHJG[6TX_D>)Q19=$A3(3:-Q=7\7369CO'617ZL.1.^GTD-&L)<+!9Z)H]'\A:8_XJ.+ MEO-V;D_>,H*:_:HQ"G5[ \TP-8NR^[M4KV\--(L8 ]55J6T9/4&A':=0?O?Y M8NE;A. X?7K@@8$P=:4^";_R*U/Y3;73&U7]$!Y(,QXL?&!J!65[3N]#((\H MGIPW3=3%YO9CZ>WF;'"(&Z2K]]YZ$;P<1FGE]MLA>41#89\_M_BXT"ZR"!=1"?(SZ:AF[Q.53)(2Q!2I]H $./L!E,,GO][C@@\#0; MIS10 !0_CT3Q_40X!JB0.654IN$7Z<+&9WCAR-_.P&$,'3 M& TX=,!_!)("!)V?D51F2\3868S5VV.$9FP]_M@)R%APY*B M/L,,1P,0>8*76A?6$G:ZS2TZB+>?W1F'O/''NY@XSHB94Q1OB'[$N[IA+6!T)7BU\X3?[XV6YE.4@5_"J(A(:+[&R*3$ MPT90Q1W2Q;W)Q;W7,NY2@B8??)QR-EAK'$WY#B=9D#(A,=W[_(YMU^5H0'+< M[#+F?./Y[=&4+8EXR)[\9W;1]PB[G^5P< +#'0 #&N-$Y071>!5SC'N>@M1I MP'TY.O\)O05T A(_OV%[$4<&S+_.+W6OD'D$7GH4IVE9_NEP X+GM5EZ "@U./WY4.S#*BE//>4Q1_ M9>Y2/GM,6:THFU*N0$CYL;ED*:@5QCQ?K9Q6[7Q=,ZV^ M=;9@]W;X";&*\"V"^P6,K;6D?T3A$XCFBPP%.ECMZ)G"1S!V O]OKA?I-Y^5 M5A8&3X 257H#GK&$.7K)_A[?8-(^CQKDEV" =<9NP2BE,/J\H*,#_&]N9#&W MNGQP%'DT6,8E(/ERX9D@&_((P3SI,P:1GX.0*VD4];0L)9[EDY17D,K2,!H! M2CD?,%8) 8'7?Q1C )2!!WKA(DBBI=)ERKP)]LCDM_#*4H[N7V'GQC(+(!!L MT,%TWYCGBN<4>>%A%?R^;,*ISJEJUW08X_WISV-)=A'D0+LDY=JG*@9SU"15 M0Z(40W/Q&';SB51TO+@IQ(9ERZHR8,)O MV@!T@,@N8ABSQ*Z+,:;&X0AK":ZLJXS0;R(W.I])^+SS.D.R)_ MP9I@A'R@Z"D$F(;^&!=5&058#D.#W#SB6ON_&>@1<"0XE:'5"8/GT<3"'EL M"#,>X2^P9]'^1U,!4-C'3LFXE_, SAB,:1R!9=R/2.RQC1F539"+7Q&55; W MBEV\J!3W:;$M!6,V8+%O&Z_*SXS):5PK,Q51K(]=.TBKFN )E[4C?+,FTD*(#[ G-C/-'><2 !"(:0IJCQNG0Y M/)PE!.,;/!4EN133>UQB\"47[X](_!7-1;!NL:L1L.HJ8Q1<0%!PY5HK[OB0 M5IF]\,$+X('/HR XP[ _+!IU9^$A>EE&-8J@:=G1S09Y=,EG%.L0$ M!D-W,BR"OT&$A(&:<]Y9*0+ &*F81E0*!3 MJ)!5A;[AEB_COIAM0QXD FS!YN?#E)2,(=$JO<]1X9+/T]QYK=QSD; &?^#K M#X,H2M$T^@!_2-_85^ED#'3*#2OJO'66();8WO< M&DMPNV3H_>+66(Y;_27<%F/.@ BV*DM2KJ,HYX&KH*C_4+.U@#9LJD2.3D\1OP^/LQ2T!@*I3[R(\D]J,LX8$.5@I$\&6_$N_ 6 =/ MDH0S V.0NJP%\%C%D12@E9*!J<7G84X,&/1^P"P;'N8!B%+F3_$"70 !RX'! MRGNMG:M%U=%L=L]/9GP59FN.,#^">3$6MO?XA1$)9K9,Y;LBV#$+\5,1%<'U MH\G%MY#Y("%FH@I#, ^$YNEE9DJ>__1V9FL/MN-:K1V_N;^YY-M<6+!>QNJ> M/C)W"0.$Y](\CNNA%ZL>CAB_>AW\WN%9DR'QI<^9AX[15<7U?,>P#JYECO%_ MD# CN0'_D4PJ_%2&-TC#N)^RZ_1W+$?+@CQ Z0.7CL'Y01"1XUN#?6,!]F]" MZ18TA$XY-^M 9YTK5>A\3F31W.3(VK<%?*J^$4#J/$#KPS0SOWU> M .,'BUT*_ MYC;4PXFO+RC$J. M;5HQ8O$FW+NE(AGA24W ME^\NEW N$W/&=PR3,SHA+8CSF:PK0019A\G!?V0 S+80Z[4AKDAG;2VX"SBM M'-D[5UM<^(XMOZ\MVK_@V^J;NUL[26$O.UTMGNW")#$ M.P08<-(]_65+V *T;21&LDF87W^/9!O\AFU(>NR]D*KIP=*1=,YS]'+.L21_ M_,?KW-:6F O"Z*>3QNG9B8:IR2Q"IY].GD:UYJBEZR?:/_[^Q__2X._C?]=J MVAW!MG6CM9E9T^F$_4WKH3F^T>XQQ1PYC/]->T:V*U/8E]MA%QZ]^F^TR]/& MU5BKU0K4]HRIQ?C34%_7-G.M_"W5W$^O'KX;*/ZJDF^&#]_F:W^LJQ/G\_U9_,GK\F/PISA.=) S51\ M.@EA^')QROBT?GYVUJA_>>R.%-V)1WCS:A/Z+8V\\>'#A[K*#4@3E*]C;@=5 M7]1E]A@)O*X9+A;(Q#FU!4,& M4:_ 'S1GK=,K,N!:E9"$-W(-:G MD\VCK WJ5O59>$(H48V>>7\-K2:'K"L%#/]$U-(ZU"'.2I.CF<\5JQ_K\6I" ME;L"6WWZ=_5[P;& :E2A+B3X!7V2+85,9)NNO5N9#2NI1?R$ ,?]D37-L0@A MJQZSD3T'..7N],;==KRUZC?U=M- QYNF]UFK]711@^=CC$Z;( 7 M,807.1!?[ .Q]L, <:"?88< ('\^9,@%8\BT(ZC[2=G 7Q8#?F3 _QX[/0"] M?Z?U!YUAT]"!0&OV).7C8-AY@&+Z'W/D%,R=A-:CG;!U<[:.#5G/T MH-UU^Y\/$^P6HQ:F4"7\$,PF%L!GK4$4_4D+B=F=S5Y$9([P-+-OX6PU7K]- MC 'QGK/!_ZLT>Y M:@3PJYS#!=E&)@]AK!ZS(?XQ#G%7__E);^O&+]XJT!SH1K.K ;K]IV&KRK8^,H7[[Y*U4]\..9QT<+IXV,X5CH3$*=]!08C:^%XG) M]*$_-#2C,WS4VIU;8^1; [V?Y'30&1C*H^SUC4.>5TTK[+-8.1!?QB$& _>Y M,S1TF$\5QH<+I."-\-(/3]E07B5Z:^=>#G]8H0;0;6'5/UPL^<()@ZD>L]&\ MCJ,Y['25TS5H#L%,-8;-WJC94I&+PX55X$@7Q7F@)ERKT4-SV'GH=]N=X>A/ M6@>< ..7PX73#J-IYX&9XD09^OV!^Z(F,L,@JL=L&!,>4ZO_^*@;7EC%BTDJ MEZG3.VQ_"4;W>72PGVY[PF49/MR,8XW)-ZCP?MF$*GGS,L<_Q[,\37E.. M9Z_],& V,0D6!QS_ UR=*,Q.#LP)GRH79@.-[8,&&7$G$DK)@SCA5J7$4HZP MU@AU(E&5/%@3KE0\K'+$M&8A)Q)@R<,TX5-MB; U F'JWBP MY;#1;S&ZQ-PA@$ ;CQT/BO7;R92L;#TD?+1X1.:PT1[AJ7PI.\0+!L#2:1CN M+7G9>"?$&YL: M'9"G."S7QG(B:IHF>H 1]ODZ")A>):"%*S-9%P?G,UT9HA M.L5"TZG6M&WV(L^W:'>,:VWFCIV):Z]U=520BND(1JQ(D$0+UW'DIX1<7@WT%LY+ _+@H '8.)V-7V;)3CKT- MTNLU,V(E%:3-5EC"L=X:NSLNW)DZ"KIU?Y*>7T!U1:O(UFC"H]^JT?!(#+>H M;9H\ZCI;47>N R WYS*4Y7F@G=>%/.JPD[IS:\G4^&4BRE!(XUZC6KA5S6_V MT+4^F@$F!I:'5L>.4#$%^@V,,KQ0AY%[S,$"&@?-M3@&/S6B['T+9^LX^6)[ MA\"_;$ZJW&OPJ-U\!6W&IJ*N.3[YSIK.JRA;Z\GW[#MH/3S8O<8EKYIL_=@% M=M%<2N8;^D%&;=F=X0T;K:.=07*@;5C0% ^'WB7\G=C@]EO1O=E>2K9JN-X'(X;[*D5V96HGK-Q3P1?DK@?W98M[V33G!+KB W@J5:&6ES[Z-H-L2V/H0\0=U8&1U0@4[:W M)=A2F#I;9XEP2];K]N- B>UN$(POQE9TAX.?E@W[3KL1P&'C:'3XJ831#',^8;6$N.K^ZQ%EM M6='SZ;+5E1)Z2-O$87Z5L6 C.*1WA5$>4K-B1I5Q($_YR MYIFE_X\HRW_D;8M#/-'4+8TW\C*_3R>"S!>VO%-1I1%M5ONI!>O8=D204MM4M0\WR4MD]V='U;4'/P7NSRW2.<(E M>UY!V4D^R,[9N'XC,_LQDL>%?PWOVGSZUWK?S8"S)9&W6//J?YT M8JJWDR>:-[5[F7-&P2KC*]W!GN>J\ MFFH3\!"ZH(HF>Y:O3L'KQ>L[30/9]RV\LWY]"O"6WT'D+J+6$]C.9#IS1 ^O MI4E)KZC2PI.'C#B&A$C/JJ@<32$P0,VHZ0T3Z$"V*[_I,?#.)>PZK(/4=V 2S[!- 8(KY.W ?1/%=9,/0@77)YS)@/B-_?Z/K^_:; M@<<"ZR_D-V_P+?071<9P3"*7Y+5TR?2JBI!N&1OX MU;FUF?DMVX .D^UN1:K/VMPX01WO(,QF=]WZ1!483<%YJL!V5,>L$Q+N6;9: M8F]14X[ !4M52]0.5#"7KMO67?/% 7A37=6")65;:9[T18I42\CP+IS 3)#F M=YZDA)6^@^<'Z_E4->!Q MYFTH!+-E8Z!FDU35S$N#75)X$95&EG:B9&5K:.3(KJH8;+M<>F^J;?6MP;:+ M#18:, 2OC;?=BU4V2KI%%$]UNT.05:[*R@X"]_'Y9:J[JJ&N7^=3HZ M#;VV5W>)K./)&015%2K+ -LX%#M8;6F%_M/LMC3S,]^FV5ZJLO*W8/I"G27F M8R[?E\DXS2.6)LRF2V\GV#>$8;$Y(N^QHK? MS=3>$XDE\ZI3BU73G;(EA<- MLOD<8]WZ;,37V&9J_T%R)BI&6KI$!B)RD/Z3T1>T^B>L9X^(^1YLUXD-BV*T MU1OG/S&.T2\N\!L1)Y%G2C!"%!&\K2W\2L/PT84W787,V)G9L@=RE0.G2>="K(E$ITC(JPNTC \^W MM3+CP&_-+9WO8)D&@W61Z"[I>:7S_,B;-G[]C.(+6C*]>BO:'>'",69@VAE@ M2@A$K6#[8%26 G2ERQ)P=,?9/,)JGV*#W9'E.B$JVQ[E*B.KW$"7+]E6JM+E M&"T0Q_*U::R_I:27SJMO;S^XR')3+?%H3NG\PCS98O,%HJM$,"">7@5>'\ O M^XG%)]&TC-*Y]=9/::6DK:N1]-)Y[;H,^F67)):GM(S2N7WDP!-9D;35-)E3 MO?546\P3?2.97!5.D_TB+:-T M;MO,5/N5Y.%8=8N$3B>,S[VM.?Y*MYXU"M&^?7WT-VDZR*'7EQ-QRJT1J%$=XF6$':*HB5^MWN M^"#,(:K<&$S_.G9([*G"O[/PEG,S6\E;<=RQNC8E M<[-[K@Q=0E4MZP-'.Q6IG-[E%41J;13!AB6RY!GJ7 /B[M86W=UN^E]"I M<.4;8*RN&;,VQP7?7DU53PUL/X&=;494OZ^G\YWHW[EDE>O3Z1S?KKP7*;!< M-E])CG@)XM]?CQ8!3N1-?OOI,21!6SE(A04.R*L7W(L>*^F"#XEY#X2*Z#.3 MILIJW,)X3'LY5-536G"V3UU?$#L0L26O^%H0ULG[78"4>?@R?%Q<+7O6TKN\ MM\#!S>UERSZ]6>QHRBX2YQ2M[-D..<(\IT2.VD?$OV%GP(F)VV0RP?*"/WGE ME7]58WA8[E*HY)L=O=YHL%OLZ2VT:RN>7G;'5"AN+DH;,7O-;7I6Z8;DQ[IW M.3#\_#]02P,$% @ U'QN28!F'PJ^%0 A!T! !4 !Z86%P+3(P,38P M.3,P7V-A;"YX;6SM7>MSVSB2_WY5]S_PO'5ULU6GV+*=["0[N2U9DAW5R9)6 M4K([\V4+)B&+%8K0 *0?^>L/@!ZF2!!L2J0 35T^Q+:$1W?_&MV-5^.7O[TL M N<)4^:3\/-9\]W%F8-#EWA^^/CY[.NDT9JT>[TSAT4H]%! 0OSY+"1G?_N? M?_\WA__[Y3\:#>?6QX'WR>D0M]$+9^2OS@ M\"?G#H>8HHC0OSK?4!"+3\@_ M;\9]_N>JNT_.];OF^P>GT0"T]@V''J%?Q[UM:_,H6GXZ/W]^?GX7DB?T3.AW M]LXEL.8F)*8NWK;U6ZLU+EY^OKBZ$/]6U7\)_/#[)_'? V+8X4B$[-,+ M\S^?)7A[OGI'Z./YY<5%\_R?]_V).\<+U/!#@8B+SS:U1"NJ>LV/'S^>RV\W M13,E7QYHL.GCZGQ#SK9E_JVO*9^@A/F?F"2O3UP4284J[,;)+2'^:FR*-<1' MC>9EXZKY[H5Y9QOA2PE2$N QGCGB)]>0;:\_T))K1>!QK5BT)56C$MY1^ @C3%^K6I\%=UHU M>2V@Z< 5:\R0/J+0_R&7#%JA=X.8S^RC7R 8DPZ_LAIZM-,3?D0"8/;/9XO+W) M799N1.OB%?()[,($SXHO:V&\N)]*5Y&X%_.@2TD[92NE(O2 "PO)DO7,',KZ M%VC]2M??&&$4*+)TX6KH&.- ;#V,^%3_=4I1R) KS&]I[URVG6KG9(S0Y0-, M^S.EJZ;$G94@)%&X*EN(*)Z3P,.4=?D\)'HM/0[ +52Y+@(^9&H<+'ZUW0:XDA#+(Q7 M\E<4>DXWY&5?'7':@2XD,773N;,;OD/G)2=NN\/)?V\/!YWN8-+MB-\FPWZO MTYKR/VY:_=:@W74F7[K=Z61SA&!#;D#<'1(#<8:!I+;0UA3*@PHSQ![D:868 M-1XY@><"TW,<1&SSB42Y<=%<'UKXT_KC?[48PQ%KQU3LOVXZ"- ##F2W_UJ7 M2Q4[-T>PV#*62PYL+L;M$PI$D-V*VGSXOG*')L^WY#,"K)YF,*% +>HZA'*[ M\?EL.T80=7?4)GN"9%WBG,6+E8HV?*XCF_HS2A8Z>:]E2_9A)8D+I^+,><;^ MXSR2U!O$<8S%9,GEWO1 1$LW!,/VTBBV>TK'.I3EA("3WR<\6!IC%W,&'@(\ MP%&AR0%4A2%Y911)L 2LPXY/ZTC,=:T<;/I:,,2NC2(&X=LZL'KA$R>/T-AT% M*(RXAHB(9BEF2GQT"Q_)9W-?&1X+HA0H_-@R?6C353*;7/6_Q9BI#; HJBQI M;*91G31W-2^74TN'?B^,4/@H3GNLI8'?Q'!'B/?L!X'.HT)J&YMRU 5R*>XM M!;X8W+( UC#3J!E ZT'JX"5A?K0203Y2J6+&IADUPZ64AGV8Q?B62R2Q6>+C MA#PT*!95-#9CJ1M7F,2L0[IH6)8;CW4OI^;-]T]DAI*O9+H9BZZ6'2NAN5.7 M8H;KG\HD!Z\FM,\6LV-M4A6]]'#W[@"S]0N(*D M*FN0].T!HAM"*7GF@&@\A+*P:7>1+_R4C=*P:IU&I:XU%&I57GG33@,,CIYA MZ_#9;#N,T*O8.,# 3DDIG,4]DGXN+E^5)*KPC8LFHXKUL3)WGQ9JI^I M>2L$34T5BZ;KA> 5 M+MB@92CFZ 1T:A(1]_O.E3+-LK>BK%&7LUB04!)5='\F4]+TP,@7>\:[J)FT M3I%:KALO8FE190S#"5]2/,@*\0P3S#6(9B(2UNA5R;N*ZYI>I1">-1%B;*\%NQU=**YI?SM&3Z_._: MLU&\)?#=24=QM4\Z"N>GG73\?ZX_FT;J584=%JYA+$RF_,=]=\#)']XZPU%W MW)KV> &G-1 E[T?C[A=>K?>MZ_2'$Y,I-^XHGYF,*)GI@ON=0B:#6Q1@-L9/ M.(RQ]J1QIJ!I1Z80<]HLJ'FST&\Q/HT55W78A!LQG:]*%33MGXHQR.%-@4'# M\'[[4KP@Q=V!H%AXG_4]9TWHH*EB(?L>"OC5=FL&MJ6-ZG!<" MDQ[UA?Q;9P!6SY<%G.26M_!#<;E69BHKQ*VPHFD#418\H"2L0W",&>;DB$P^ M'>YP B+O(Q3B5U#-=#A>%CV0%*S#;LOEV[HRP.8G"UMC(K,7PF%;N7D( M9ZE82:V+-?C\D^SR5V@I-%6,YE;8@".NMZZFWO[!:CHTY]6O/14)V@V>$KO>UY86"[@L/?+G\_1#1UQZ7(2N[JUAKIZ8M M\A$DFA=E*.(1*P.HXXOH] ;F*A#6!_S),J;5/DNO-O*H!W3;0-SRLM:V&QQB M[=)[;@730Q8(;RZK]@4N QQ!)M6I8J:'F9+J;/:2-%:V#8P=-@X[HK1'4Z8' M$P3$O25DWTA3') L/C^JK60G,]4>O:N\(].F"Z &V;,B=1Y%9+=';,XCEB>?R^/F M]2O#7B_,U[] M[(79AW2TBVZ VJ830I*D4K_NT]HN*T*7'^Y.'7L\1H!*<&(K=WO(\01T(9VDNHP*9.L"D3^Q MM3VXU$X \'W229=K!:@$)[8 N(\D3T =5I.7_:,^=7V@"IS\FJ!.>M:!+XGM MX"7%KK^"(O1:"W%*Y$?!#EUQ32#@)[8*")58_2^>:8C8OK"5_' X2[[VVWJD M6!Z!4$ L7P:NJG6@&IS*^F"ELK'4*N08M;>5[E(A8;8N4"5.?GDP3VJGL.JS M7MJ2!8I[(Z5\"MI0XW1P:K6^;5G^P$ MMVORE!EZE=?KIZ3E_A[[%.<^%JLYI=)KA=2RSEF,]$5D@/9SSZB:CO1M@3G"DX M@=G.DDU:ZE!+*HC&FNXE8OOL:X*CY.. ,)W8K6&I ZT.*8- M&"+M5K'4"U:'J5)$5H,JG771 P:Y%2R]BE$=H KQ6 UGZC%%&*292I;>N*@. MUAPQ60=M,BR .=3\&I;>HS@,U"(!V3?72%(,]*B:*I;>EZ@.5*A'M0A5L W6 M5K+TUD-UR,)ML$6+ACW&8G$B3Y"_?5@2YF5SJEIZ@:$Z7ZL5F74>-[&FQ94U MINX<,3#:@+JV7EHX$&^PU.P;WD(:XD$L_D,$^D\H$)R,,/5%:N;=?=I\[,NU M8I#=[FR&W6@XZ[ZX(I[X5E_K$4]8#6?0@'Z?3$Y=UQ:N*C 2^)X[L;_."B5A7 M+.0'Y)GMO+&W964GI]B'PW**'?L=/X(>2,X[A'_AU'=\Y@:$Q13S/X;CN]:@ M]YM\HT\^T7?3FO0D_:-Q=\)YD=_437& 7*HF^.W[_V.KWIKZL'!5NC MWK35=SBMPZ_C=G=2-Z4,Y4CV8YK02>]NT+OMM5N#J=-JMX=?!]/>X,X9<75I M]^HG%*D%VKQ(T[FF;<)EV.[VOK5N^MVZ:?-#-6W--&V]P3>N@L,QE]=_.X/N MM&["/*0F[#)-6*2YMI' M-&VJ*7N?$6;W3J#,!\J(2Y4/YKI)H\LHA[8/:=K&W;[T0:/6F)O&Z;@UF+3: M\N'5VN6'W5&K]7.E$NH-C>! .[*62SLN,#YE\O9EP/,7@Z'X[AB'D M;ECMAR\S/J3 #_/@C(>'XLGMVN,R3G2D)CKC7PJ)GLH;)[63C&@.Q1E/HP@C MCD:E'^90F7$NZ8#B:"3R^8>:Q(R7R0DMCD;I6XR10W'&]\"#C&,PD=K$F.Y> MS=KA)..ATK'',>B=X$^YX?OFGY.'"L@P!&$,UA(>-BE8' Q)UC M+PZP4*I-\@3G[>ILDAES^S#9=*_R&=["7"E%]:J\&ICM:SKW:7%:EQ]*.I5U M36\-P6!(W@@L)13K]K>SU)?,U0-NP/0^5SEDRW)W,O"*W9;RF"9KV3=$LSP5 MPJC$WCKT@H \B[,RBB3_)7)KEVS&OH%:C.\^@K+O92$1Z[@^FGDH)][)S-<+ MXYWU?76G%SI;(3E<2LY&3-N(Z(@QG1\RXN>PF)G@9U=-MOR1F9/(G&U''+?- M"R M3/Z@3)! .Q%[M8/?<8MUATA'@2O5'G3!Z#*H:1D MUEYL!E@3-^V6LL:Z)6C.0V$7*FNE_PT%L>1\G4,',CH4=:RQ8P!DREMF]P(6IKTZ:[Z/$VTJ4R.R[3*F=DTWL]V1NS=VY&51-5,;:>?D@]2O M7VN%\1G+;,.9;#L:F0"Q6^9LBDW8; M1]PN[>;"E<\AZ:S:=69W%6355GTYRYOO%X8H?!1G#98 MO0>E#6>+ZAF,"#6D*4 ?<.T:KUX+GS[CX G?DS"::X+'BIHW/0. 9^*/"L5 MK753B7+VJ[I)9TC:TA2 MF'\<';DE,:U!15;-FK[6=UP-28KRCZ$@K5F$J63-5R;./D1BJ;9-)V"W* M1G3LO/7LR*Z/>"; ]1AQ/?5J\W7A/;U=7A*G\#- &TPL LT#59C[R0S1?<(G MA5R/88GG"BN:GDWGY9LBY=BP-&I)T%T:+[L2[Y;&J3P^!C;77"_TU#=8KC.' MO++&[L@[3NE;0J -M.OL5:WL?2$3-PH89831/.EG+PYGJ=Z)*5:R$?N:<7"L M4W2)0\BO4XI"AER9# 4&3&9G4W=%R@1"=!DQ0I2:S68G.DW'C$ M$\C'=(_-F#M3\_4^LU\!Y4ODQ:%,CY&;1U]F#J"]N9\F>>W\Q'\/B&'^R?\!4$L# M!!0 ( -1\;DGL\G!G1"@ */ @ 5 >F%A<"TR,#$V,#DS,%]D968N M>&UL[5U;<]NXDG[?JOT/VFQM[9FJ=1SEGNQDMV19=G2.+?E(2K(S+RZ8A"2> M4(0.+[[,KU^ DBQ29 ,@!1*@1GEP; D N_MKHAN-1N/7_WU.F1>_1 _)_!2XO( M#3'W>;K,?;R?M M]Y_?OOW<;O\N^900A5'P_)17CQ]?O7G%_JVZ_^HZWL_/[,<="G"+(N$%GQ\# MY\N+!&\/;UX2?W;Z^M6K]NG_75^-K3E>H!/'8XA8^,6F%QLEKU_[TZ=/I_&W MFZ:9EH]WOKMYQIO3#3G/(]-O[?"Y0[+QN]/5E\FF#F?H!-&!\SF(.;DB%@IC MW1-2U );L+].-LU.V$& RG713,+USR$-P@GWXRQZ%C(:',]AQ6 MH70)NB-R>I9JJ9 "%UF^% ')A@J?'R Y_A/M%#X=R?&.JN#<\:2>O6VF\-DV MDIS=J] X8@6AC>Z0'/_9YBIG-UMN:K.KT'R_+:?YVW8*G^XO0[G')QNJY!Y+ M+HK]W"WBF=;R))[>K*A6LF_EA7]ZVIF?.DIOXHYGPX;RCX_K,3FR#T^ MT4ZIU9%[>J*=4KLC]_1$NTHLCQP5.>V5^;7WV ^=.Q>?X[MP@N@OPO4.MY,: MNL9XQCS@$5X2^B!O)D<8OY=:FR5OM"JR6I)3!U:L,4-_ACSGCSADT/'L,Q0X M=)URX^. 2C[^-.>C.?^,'-L)GR@97;1T0N2.'*N9*JE4JL2$.3+T;#35C$5EH.F-I*G9*>]4EL7$$>.D'13U31( MXK+35@T5YTX0^LY=%+_=,Q^O8AP#Y/OT/;['DJ]5L5&JI)P%@NW(Q<-I_O=[ M,51P\'KXO(C"R,>=!;.NJUFZ][AD\2M%K,J.K\C'F-/G3+"_8$Y,$-L;[V?' MLO RCI$/2(B#*\>C='5]3"=R22;W'+8^WK9RCUN?A.OF"OF4?(0.GG.^K(1Q M\7.41I&H%;-E0TFIMDJI\&S)P$*R934KAZ+V1;:_TOA;0 )?4F2[C=70,<(N MVWJXH4O]IXF/O !9;/HM;)V+CJ-V3180?WDGI_V9UJHIL:8%"$DT5C47(A_/ MB6MC/^C1=4CX5/@]D!Y!95Q$\B5P5>O_)LPI.V\E6_(H0+ZU(2*O=V&2!G()$9WO70''\I),%7MQAOR"YZ:[5TXIF>IIE^['@.,X'4Y?^9HAL_AMBS\?/$SP8LD@T3.B'K\&KU MK]TZ84MN?\!OI[=S@X M[PW&O7/VVWAXU3_O3.@?9YVKSJ#;:XV_]GJ3<0W4+O/)?5.&W-9?4LD:OU1. M_D[*38J#MW(@%(_O&@-;WJCSJ1/&[0Z ];R^F;4^TJ[];_W6E?# M<>6(I!)X4OR\*\-/MS/^VKJX&OZHD/!]4WE27+[?C\N:-3"=$91BY .;BYS MU2]",M

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end