XML 13 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current Assets    
Cash and cash equivalents $ 649,430 $ 988,029
Accounts receivable, net 49,870,406 50,451,665
Advance to suppliers 14,957,311 7,958,870
Inventories 5,339,201 5,254,029
Prepaid expenses and other receivables 1,207,200 1,180,452
Taxes receivable 22,685 0
Total Current Assets 72,046,233 65,833,045
Noncurrent Assets    
Heritage and cultural assets 122,277 124,868
Plant, property and equipment, net 14,285,128 15,201,395
Lease deposit 93,177 94,235
Deposits for equipment and factory construction 102,822 143,758
Goodwill 218,606 218,606
Intangible assets, net 7,753,067 8,062,649
Deferred tax asset 61,754 69,451
Total Noncurrent Assets 22,636,831 23,914,962
Total Assets 94,683,064 89,748,007
Current Liabilities    
Accounts payable 13,010,524 9,822,857
Line of credit 4,864,045 4,604,560
Advance from customers 1,185,425 187,359
Accrued liabilities and other payables 2,046,044 2,584,622
Taxes payable 0 5,773
Total Current Liabilities 21,106,038 17,205,171
Noncurrent Liabilities    
Line of credit 6,331,066 5,659,357
Deferred rent payable 97,184 89,904
Income tax payable 6,936,254 6,801,893
Total Noncurrent Liabilities 13,364,504 12,551,154
Total Liabilities 34,470,542 29,756,325
Contingencies and Commitments
Stockholders' Equity    
Common stock, $0.001 par value; 75,000,000 shares authorized, 25,525,725 and 24,254,160 shares issued and outstanding; as of June 30, 2016 and December 31, 2015, respectively 25,526 24,254
Additional paid-in capital 32,892,308 31,761,983
Statutory reserves 6,241 6,241
Accumulated other comprehensive income 1,248,420 1,570,534
Retained earnings 26,040,027 26,628,670
Total Stockholders' Equity 60,212,522 59,991,682
Total Liabilities and Stockholders' Equity $ 94,683,064 $ 89,748,007