COMMITMENTS AND CONTINGENCIES

9 Months Ended

Sep. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

13. COMMITMENTS AND CONTINGENCIES

Capital Commitments

The Company purchased property and equipment which the payment was due within one year. As of September 30, 2016 and December 31, 2015, the Company has capital commitments of $31,280 and $60,571, respectively.

Operation Commitments

The total future minimum lease payments under the non-cancellable operating lease with respect to the office and the dormitory, as well as hardware trading platform as of September 30, 2016 are payable as follows:

Remaining 2016	$	139,507

Year ending December 31, 2017		856,829

Year ending December 31, 2018		500,849

Year ending December 31, 2019		85,403

Year ending December 31, 2020		14,996

Year ending December 31, 2021		14,996

Year ending December 31, 2022 and thereafter		52,486

Total	$	1,665,066

Rental expense of the Company was $199,514 and $181,214 for the three months ended September 30, 2016 and 2015, respectively, and $428,440 and $308,400 for the nine months ended September 30, 2016 and 2015, respectively.