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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
CURRENT ASSETS:    
Cash and cash equivalents $ 5,523,416 $ 1,481,498
Restricted cash 284,140 551,047
Notes receivable 144,521 133,913
Accounts receivable, net of allowance for doubtful accounts 15,023,701 13,922,371
Inventories, net of reserve for obsolete inventories 3,491,624 2,394,179
Advances to suppliers 1,313,883 1,116,525
Deferred tax assets 395,715 386,381
Receivable from sale of subsidiary 2,831,441 4,838,152
Prepaid expenses and other 578,015 9,074
Assets of discontinued operations 757,146 1,758,986
Total current assets 30,343,602 26,592,126
OTHER ASSETS:    
Equity method investment 8,775,355 8,610,759
Property and equipment, net 28,648,360 29,878,675
Intangible assets, net 5,249,763 5,283,695
Total other assets 42,673,478 43,773,129
Total assets 73,017,080 70,365,255
CURRENT LIABILITIES:    
Short-term bank loans 1,474,709 2,159,889
Bank acceptance notes payable 280,195 547,172
Accounts payable 2,338,100 864,870
Accrued expenses 253,649 368,395
Advances from customers 464,832 427,446
Due to related party 132,175
VAT and service taxes payable 84,250 47,319
Income taxes payable 60,922 79,467
Liabilities of discontinued operations 411,281 558,661
Total current liabilities 5,500,113 5,053,219
Total liabilities 5,500,113 5,053,219
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 June 30, 2017 and December 31, 2016)
Common stock ($0.001 par value; 12,500,000 shares authorized; 1,810,641 and 1,415,441 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively) 1,811 1,415
Additional paid-in capital 36,838,391 35,549,542
Retained earnings 25,863,592 26,531,498
Statutory reserve 2,352,592 2,352,592
Accumulated other comprehensive income - foreign currency translation adjustment 2,460,581 876,989
Total stockholders' equity 67,516,967 65,312,036
Total liabilities and stockholders' equity $ 73,017,080 $ 70,365,255