Note 9 - Prepaid Expenses and Other Receivables

6 Months Ended

Jun. 30, 2016

Receivables [Abstract]

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

Note 9 - Prepaid Expenses and Other Receivables

Other current assets consisted of the following at June 30, 2016 and December 31, 2015:

	June 30, 2016		December 31, 2015
Prepaid expenses	$	514,456	$	526,016
Other receivables		692,744		654,436
Total	$	1,207,200	$	1,180,452

As of June 30, 2016, other receivables mainly represented VAT recoverable of approximately $487,600, a government grant receivable of approximately $75,400, a deposit paid to PayPal of approximately $54,000 and others of approximately $75,700. As of December 31, 2015, other receivables mainly represented VAT recoverable of approximately $485,000, government grant receivable of approximately $77,000, a deposit paid to PayPal of approximately $20,000 and amounts due from employees of approximately $28,000.

As of June 30, 2016, prepaid expenses included prepayments to furniture designers of approximately $73,800, consulting fees of approximately $168,600, insurance expenses of approximately $245,400 and other prepaid expenses of approximately $26,700. As of December 31, 2015, prepaid expenses included prepayments for marketing expense of approximately $338,900, consulting fees of approximately $47,800, insurance expenses of approximately $102,600, and other prepaid expenses of approximately $36,700.