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Consolidated Balance Sheets - USD ($)
Jun. 30, 2016
Dec. 31, 2015
CURRENT ASSETS:    
Cash and cash equivalents $ 19,522,905 $ 18,790,370
Restricted cash 248,367 647,080
Notes receivable 69,242 132,497
Accounts receivable, net of allowance for doubtful accounts 15,064,235 15,823,859
Inventories, net of reserve for obsolete inventories 2,974,023 1,827,084
Advances to suppliers 855,671 1,038,884
Deferred tax assets 215,818 220,895
Prepaid expenses and other 864,899 992,055
Total Current Assets 39,815,160 39,472,724
PROPERTY AND EQUIPMENT, net 47,276,301 51,753,964
OTHER ASSETS:    
Land use rights, net 3,259,844 3,382,071
Total Assets 90,351,305 94,608,759
CURRENT LIABILITIES:    
Short-term bank loans 2,935,244 3,081,332
Bank acceptance notes payable 237,830 647,080
Accounts payable 3,239,562 3,489,815
Accrued liability for claimed sale contract dispute 5,434,512 5,562,365
Accrued expenses 203,941 798,714
Advances from customers 350,345 433,050
VAT and service taxes payable 35,828 269,284
Income taxes payable 115,557 259,987
Total Current Liabilities 12,552,819 14,541,627
Total Liabilities 12,552,819 14,541,627
Commitments and contingencies
STOCKHOLDERS' EQUITY:    
Preferred stock ($0.001 par value; 10,000,000 shares authorized; 0 share issued and outstanding at June 30, 2016 and December 31, 2015)
Common stock ($0.001 par value; 50,000,000 shares authorized; 4,876,486 and 3,943,986 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively) 4,876 3,944
Additional paid-in capital 34,900,501 33,803,333
Retained earnings 35,483,501 37,007,776
Statutory reserve 3,555,468 3,555,468
Accumulated other comprehensive income - foreign currency translation adjustment 3,854,140 5,696,611
Total Stockholders' Equity 77,798,486 80,067,132
Total Liabilities and Stockholders' Equity $ 90,351,305 $ 94,608,759