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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2017
Dec. 31, 2016
CURRENT ASSETS:    
Cash and cash equivalents $ 4,774,697 $ 1,481,498
Restricted cash 229,499 551,047
Notes receivable 254,059 133,913
Accounts receivable, net of allowance for doubtful accounts 13,023,448 13,922,371
Inventories, net of reserve for obsolete inventories 4,033,372 2,394,179
Advances to suppliers 2,560,713 1,116,525
Deferred tax assets 403,389 386,381
Receivable from sale of subsidiary 2,886,350 4,838,152
Prepaid expenses and other 1,475,104 9,074
Assets of discontinued operations 380,779 1,758,986
Total current assets 30,021,410 26,592,126
OTHER ASSETS:    
Equity method investment 8,906,014 8,610,759
Property and equipment, net 28,274,949 29,878,675
Intangible assets, net 5,269,221 5,283,695
Total other assets 42,450,184 43,773,129
Total assets 72,471,594 70,365,255
CURRENT LIABILITIES:    
Short-term bank loans 2,029,465 2,159,889
Bank acceptance notes payable 375,827 547,172
Accounts payable 2,414,145 864,870
Accrued expenses 207,303 368,395
Advances from customers 1,011,384 427,446
Due to related party 351,430
VAT and service taxes payable 7,298 47,319
Income taxes payable 62,104 79,467
Liabilities of discontinued operations 356,384 558,661
Total current liabilities 6,815,340 5,053,219
Total liabilities 6,815,340 5,053,219
Commitments and contingencies (see Note 15)
STOCKHOLDERS' EQUITY:    
Preferred stock ($0.001 par value; 10,000,000 shares authorized; No shares issued and outstanding at September 30, 2017 and December 31, 2016)
Common stock ($0.001 par value; 12,500,000 shares authorized; 2,111,871 and 1,415,441 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively) 2,112 1,415
Additional paid-in capital 38,003,455 35,549,542
Retained earnings 21,613,265 26,531,498
Statutory reserve 2,352,592 2,352,592
Accumulated other comprehensive income - foreign currency translation adjustment 3,684,830 876,989
Total stockholders' equity 65,656,254 65,312,036
Total liabilities and stockholders' equity $ 72,471,594 $ 70,365,255