Transition period

12 Months Ended

Dec. 31, 2017

Transition period [Text Block]

2. Transition period

On January 16, 2017, the Board of Directors of the Company approved a change in the Company’s fiscal year end from September 30 ^th to December 31 ^st . The company is presenting audited financial statements for the three months ended December 31, 2016 accordingly. The following table set forth certain unaudited comparative financial information for the same period of the prior year.

		Three months ended December 31,
		2015			2016
		(unaudited)
Net revenues	$	5,500,589		$	3,500,516
Cost of revenues		(5,658,887	)		(3,974,617	)
Gross loss		(158,298	)		(474,101	)
Operating expenses:
Research and development expenses		(747,537	)		(439,005	)
Sales and marketing expenses		(170,458	)		(172,972	)
General and administrative expenses		(1,029,711	)		(1,109,297	)
Provision for doubtful accounts		-			(44,861	)
Total operating expenses		(1,947,706	)		(1,766,135	)
Operating loss		(2,106,004	)		(2,240,236	)
Finance income, net		2,006			9,000
Other income, net		43,392			36,839
Loss before income tax		(2,060,606	)		(2,194,397	)
Income tax expense		(72,067	)		-
Net loss		(2,132,673	)		(2,194,397	)
Loss per share – Basic and diluted	$	(0.12	)	$	(0.11	)
Weighted average number of shares of common stock – Basic and diluted		17,171,953			19,745,873