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Consolidated statements of cash flows - USD ($)
3 Months Ended 12 Months Ended
Dec. 31, 2016
Dec. 31, 2017
Sep. 30, 2016
Cash flows from operating activities      
Net loss $ (2,194,397) $ (21,467,341) $ (12,652,194)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Depreciation and amortization 233,913 1,592,322 1,117,741
Provision for doubtful accounts 44,861 725,375 2,779,497
Write-down of inventories 414,919 5,776,891 439,068
Impairment charge 0 972,387 0
Share-based compensation 345,079 759,292 1,462,197
Deferred tax liabilities (assets) 0 0 (96,793)
Exchange loss 121,768 80,547 213,127
Changes in operating assets and liabilities:      
Trade accounts and bills receivable (227,521) (53,553,988) (569,265)
Inventories (1,640,307) 2,323,308 (14,357,199)
Prepayments and other receivables (212,989) 147,362 (4,389,940)
Trade accounts and bills payable (2,277,799) 47,151,533 5,515,277
Accrued expenses and other payables and product warranty provisions 407,055 2,751,700 1,232,105
Income tax (receivable) payable 439,080 0 310,108
Trade receivable from and payables to former subsidiaries (1,778,157) 18,957,526 5,108,935
Net cash (used in) provided by operating activities (6,324,495) 6,216,914 (13,887,336)
Cash flows from investing activities      
(Increase) decrease in pledged deposits 112,893 (4,367,646) (3,187,541)
Proceeds on disposal of property, plant and equipment 7,904 0 0
Purchases of property, plant and equipment and construction in progress (1,669,885) (12,047,863) (5,926,675)
Net cash used in investing activities (1,549,088) (16,415,509) (9,114,216)
Cash flows from financing activities      
Proceeds from bank borrowings 0 0 19,410,639
Repayment of bank borrowings 0 (1,479,487) (10,715,653)
Borrowings from unrelated parties 1,108,459 6,055,838 87,230
Repayment of borrowings from unrelated parties 0 (6,402,906) (76,540)
Borrowings from related party 5,297,399 18,964,063 4,289,084
Repayment to related party 0 (17,407,191) 0
Advances from investors 0 2,071,282 0
Advances from former subsidiaries 0 2,367,179 0
Repayment to former subsidiaries 0 (2,367,179) 0
Proceeds from issuance of common stock 0 9,605,277 5,516,600
Net cash provided by financing activities 6,405,858 11,406,876 18,511,360
Effect of exchange rate changes on cash and cash equivalents (76,857) 27,541 (319,258)
Net (decrease) increase in cash and cash equivalents (1,544,582) 1,235,822 (4,809,450)
Cash and cash equivalents at the beginning of period 1,953,295 408,713 6,762,745
Cash and cash equivalents at the end of period 408,713 1,644,535 1,953,295
Non-cash transactions:      
Transfer of construction in progress to property, plant and equipment 298,203 15,637,965 602,109
Cash paid during the period for:      
Income taxes 0 0 459,265
Interest, net of amounts capitalized $ 0 $ 95,903 $ 0