Segment Information (Tables)

12 Months Ended

Dec. 31, 2015

Segment Information [Abstract]

Segment Information

Revenues	2015			2014
Dyeing and finishing equipment	$	29,010,950		$	42,209,342
Forged rolled rings and related components		12,080,893			33,749,334
Petroleum and chemical equipment		8,473,733			-
		49,565,576			75,958,676
Depreciation
Dyeing and finishing equipment		3,397,397			3,119,823
Forged rolled rings and related components		2,755,726			4,846,273
Petroleum and chemical equipment		1,975,682			-
Other (a)		-			503,675
		8,128,805			8,469,771
Interest expense
Dyeing and finishing equipment		144,056			147,525
Forged rolled rings and related components		40,363			90,701
Petroleum and chemical equipment		50,947			-
		235,366			238,226
Net income (loss)
Dyeing and finishing equipment		3,652,124			5,494,791
Forged rolled rings and related components		(6,136,431	)		(482,221	)
Petroleum and chemical equipment		(9,638,721	)		-
Other (b)		(647,194	)		(746,153	)
	$	(12,770,222	)	$	4,266,417

Identifiable long-lived tangible assets at December 31, 2015 and 2014 by segment	December 31, 2015		December 31, 2014
Dyeing and finishing equipment	$	25,782,801	$	30,691,226
Forged rolled rings and related components (c)		14,212,045		38,937,371
Petroleum and chemical equipment (c)		11,759,118		-
Equipment held for sale		-		422,540
	$	51,753,964	$	70,051,137

Identifiable long-lived tangible assets at December 31, 2015 and 2014 by geographical location	December 31, 2015		December 31, 2014
China	$	51,753,964	$	70,051,137
United States		-		-
	$	51,753,964	$	70,051,137

(a)	Depreciation for equipment held for sale is not taken in 2015. The equipment was held for rental in 2014. The Company does not allocate the depreciation for equipment held for rental to any operating segment. Such depreciation is reflected as a reduction in rental income.
(b)	The Company does not allocate any general and administrative expense of its U.S. activities to its reportable segments, because these activities are managed at a corporate level.
(c)	Reflects reclassification of property and equipment previously used in the forged rolled rings and related components segment to petroleum and chemical equipment segment.