XML 41 R29.htm IDEA: XBRL DOCUMENT

Description of Business and Organization (Tables)

12 Months Ended

Dec. 31, 2017

Description of Business and Organization [Abstract]

Schedule of carrying amount of the VIE's assets and liabilities included in the accompanying consolidated financial statements

	December 31, 2017		December 31, 2016
Current assets
Cash	$	806,672	$	1,477,593
Accounts receivable, net		9,059,015		13,922,371
Inventory, net		4,553,559		2,394,179
Other current assets		5,901,119		8,157,961
Total current assets		20,320,365		25,952,104

Equity method investment		9,053,859		8,610,759
Property and equipment, net		33,115,975		29,878,675
Intangible assets, net		5,302,047		5,283,695

Total assets		67,792,346		69,725,233

Liabilities
Current liabilities		7,629,783		4,389,641
Intercompany payables		13,855,768		12,194,352

Total liabilities		21,485,551		16,583,993

Net assets	$	46,306,795	$	53,141,240

* Intercompany payables are eliminated in consolidation.

Schedule of equipment held for sale - discontinued operations measured at fair value on a nonrecurring basis

		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Balance at December 31, 2016
Equipment held for sale – discontinued operations		$	-			$	-			$	1,147,035			$	1,147,035

Schedule of cash balances by geographic area

Country:	December 31, 2017				December 31, 2016
United States	$	66,774	6.55	%	$	557		*
Hong Kong		142,944	14.02	%		-	-
China		809,719	79.43	%		1,480,941	99.96	%
Total cash and cash equivalents	$	1,019,437	100.00	%	$	1,481,498	100.00	%

* Less than 0.1%

Schedule of reconciliation of basic and diluted net loss per share

	Years Ended December 31,
	2017			2016
Net Loss for basic and diluted attributable to common shareholders	$	(12,906,769	)	$	(11,679,154	)
From continuing operations		(12,808,812	)		(1,393,222	)
From discontinued operations	$	(97,957	)	$	(10,285,932	)

Weighted average common stock outstanding– basic and diluted		1,832,900			1,189,940

Net (loss) income per share of common stock
From continuing operations – basic and diluted	$	(6.99	)	$	(1.17	)
From discontinued operations – basic and diluted		(0.05	)		(8.64	)
Net (loss) income per common share - basic and diluted	$	(7.04	)	$	(9.81	)

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details