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Consolidated Balance Sheets - USD ($)
Dec. 31, 2016
Dec. 31, 2015
CURRENT ASSETS:    
Cash and cash equivalents $ 1,481,498 $ 18,790,370
Restricted cash 551,047 647,080
Notes receivable 133,913 132,497
Accounts receivable, net of allowance for doubtful accounts 13,922,371 11,671,902
Inventories, net of reserve for obsolete inventories 2,394,179 1,667,048
Advances to suppliers 1,116,525 434,409
Deferred tax assets 386,381 220,895
Receivable from sale of subsidiary 4,838,152
Prepaid expenses and other 9,074 10,285
Assets of discontinued operations 1,758,986 5,898,238
Total current assets 26,592,126 39,472,724
OTHER ASSETS:    
Equity method investment 8,610,759  
Property and equipment, net 29,878,675 34,634,956
Assets of discontinued operations - property and equipment, net 17,119,008
Intangible assets, net 5,283,695 3,382,071
Total other assets 43,773,129 55,136,035
Total assets 70,365,255 94,608,759
CURRENT LIABILITIES:    
Short-term bank loans 2,159,889 2,388,032
Bank acceptance notes payable 547,172 647,080
Accounts payable 864,870 1,890,475
Accrued expenses 368,395 610,834
Advances from customers 427,446 403,778
VAT and service taxes payable 47,319 186,692
Income taxes payable 79,467 259,987
Liabilities of discontinued operations 558,661 8,154,749
Total current liabilities 5,053,219 14,541,627
Total liabilities 5,053,219 14,541,627
Commitments and contingencies (see Note 17)
STOCKHOLDERS' EQUITY:    
Preferred stock ($0.001 par value; 10,000,000 shares authorized; No shares issued and outstanding at December 31, 2016 and 2015)
Common stock ($0.001 par value; 12,500,000 shares authorized; 1,415,441 and 985,997 shares issued and outstanding at December 31, 2016 and 2015, respectively) 1,415 986
Additional paid-in capital 35,549,542 33,806,291
Retained earnings 26,531,498 37,007,776
Statutory reserve 2,352,592 3,555,468
Accumulated other comprehensive income - foreign currency translation adjustment 876,989 5,696,611
Total stockholders' equity 65,312,036 80,067,132
Total liabilities and stockholders' equity $ 70,365,255 $ 94,608,759