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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2014
Dec. 31, 2013
Current Assets:    
Cash and cash equivalents $ 5,295,790 $ 5,993,139
Banker's acceptances 458,233 336,003
Trade accounts receivable, less allowance for doubtful accounts of $44,347,451 and $13,301,622, respectively 13,853,744 45,147,602
Other receivables, less allowance for doubtful accounts of $60,325 and $43,064, respectively 272,199 175,739
Advances to suppliers 7,889,009 7,626,716
Inventory, less allowance for obsolescence of $6,934,044 and $8,027,126, respectively 15,321,856 24,677,120
Prepaid expenses 404,370 0
Total Current Assets 43,495,201 83,956,319
Advances for purchases of intangible assets 42,390,186 41,701,505
Property and equipment, net of accumulated depreciation of $6,640,718 and $5,264,350, respectively 33,881,878 30,241,337
Intangible assets, net of accumulated amortization of $4,186,273 and $3,812,992, respectively 1,317,221 1,711,793
TOTAL ASSETS 121,084,486 157,610,954
Current Liabilities:    
Trade accounts payable 2,550,816 1,877,437
Accrued expenses 269,870 323,651
Other payables 1,401,470 1,312,361
Advances from customers 2,078,866 2,228,238
Other payables - related parties 1,354,567 1,354,567
Current portion of construction loan facility 1,629,062 0
Short-term notes payable 4,887,187 4,909,662
Total Current Liabilities 14,171,838 12,005,916
Non-current Liabilities:    
Construction loan facility 11,403,438 12,484,183
Deferred revenue 2,516,383 0
Long-term deferred tax liability 252,707 176,414
Total Liabilities 28,344,366 24,666,513
Stockholders' Equity:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized;no shares issued or outstanding 0 0
Common stock, $0.001 par value; 95,000,000 shares authorized;43,579,557 shares and 43,579,557 shares outstanding, respectively 43,580 43,580
Additional paid-in capital 23,590,204 23,590,204
Retained earnings 49,345,516 88,896,276
Accumulated other comprehensive income 19,760,820 20,414,381
Total Stockholders' Equity 92,740,120 132,944,441
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 121,084,486 $ 157,610,954