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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
OPERATING ACTIVITIES      
Net loss $ (7,195,789) $ (29,752,298) $ (122,206,027)
Adjustments to reconcile net loss to net cash used in operating activities from continuing operations:      
Income) loss from discontinued operations, net of income taxes (1,498,971) 5,260,538 505,567
Provision for losses on accounts receivable and other current assets 2,659,499 6,398,463 67,038,645
Impairment of intangible assets and goodwill 8,918,427 7,015,727 2,008,249
Provision for obsolete inventories 274,663 3,808,307 881,916
Depreciation 1,665,257 2,135,644 7,839,674
Amortization of intangible assets and land use rights 876,237 917,780 1,227,743
(Gain) loss on sale of property and equipment and land use rights (30,005,007) (6,550) 79,197
Loss on disposal of inventories 0 476,597 0
Stock-based payment compensation for consulting services 98,483 120,167 0
Stock-based compensation 102,282 81,615 6,900,000
Impairment of property, plant and equipment 4,616,679 827,319 29,976,990
Change in deferred income tax 3,761,084 (4,603,763) 1,836,586
Warrant expense 5,657,988 0 0
Changes in operating assets and liabilities, net of effects of business acquisitions and dispositions:      
(Increase) decrease in accounts receivable 2,914,918 (1,497,285) 3,957,348
Decrease in inventories 1,546,570 6,019,174 657,081
Decrease (increase) in other receivables and prepaid expenses (1,089,481) (3,435,388) (3,759,271)
Decrease (increase) in advances to suppliers (1,708,552) 5,781,743 (2,209,123)
(Increase) decrease in restricted cash 9,566,303 (1,515,573) 1,013,285
Increase (decrease) in amounts due to/from related parties (1,088,001) 1,126,768 538,537
(Decrease) increase in other payables and accrued expenses (2,736,926) (3,808,563) 3,150,366
(Decrease) increase in advances from customers 1,598,944 (2,017,504) 315,628
(Decrease) increase in accounts payable and bills payable (24,134,831) (6,018,929) (10,354,585)
Increase (decrease) in income tax payable (118,973) 171,552 (41,816)
Net cash used in continuing operations (25,319,197) (12,514,459) (10,644,010)
Net cash used in operating activities from discontinued operations (595,404) (115,066) (733,530)
Net cash used in operating activities (25,914,601) (12,629,525) (11,377,540)
INVESTING ACTIVITIES      
Deposit (paid) received for assets held-for sale (20,717) 13,024,000 0
Deposit refunded for land use rights 0 3,355,088 1,437,368
Cash acquired in Biznest acquisition 0 67,506 0
Proceeds from sale of property and equipment 55,101 6,561 226,109
Consideration paid for acquisition of Biznest (1,488,969) (5,951,968) 0
Investment in Geo 0 (128,901) 0
Capitalized and purchased software development costs (66,870) (1,353,028) (95,162)
Purchases of property and equipment (3,004,209) (529,053) (1,721,113)
Investment in Zhongtian 0 (638,723) (378,144)
Cash received for sale of assets held for sale 45,052,000 0 0
Net cash provided by (used in) investing activities from continuing operations 40,526,336 7,851,482 (530,942)
Net cash provided by (used in) investing activities from discontinued operations 1,558,581 (1,530,773) (2,697,359)
Net cash provided by (used in) investing activities 42,084,917 6,320,709 (3,228,301)
FINANCING ACTIVITIES      
Borrowings under short-term loans 44,584,103 58,862,064 92,580,008
Common stock issued for cash 12,786,353 3,683,028 9,000,000
Decrease (increase) in restricted cash in relation to bank borrowings 543,300 256,427 (610,153)
Borrowings under long-term loans 0 0 350,534
Repayment of short-term loans (79,952,564) (56,153,075) (87,876,246)
Repurchase of ordinary shares (1,310,184) (1,290,000) (3,000,000)
Repayment of long-term loans (97,751) (94,279) (147,923)
Cash paid to warrant holders (542,806) 0 0
Net cash (used in) provided by financing activities from continuing operations (23,989,549) 5,264,165 10,296,220
Net cash (used in) provided by financing activities from discontinued operations (147,237) 1,131,223 4,422,085
Net cash (used in) provided by financing activities (24,136,786) 6,395,388 14,718,305
Effect of exchange rate changes on cash and cash equivalents 564,125 19,027 223,130
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (7,402,345) 105,599 335,594
CASH AND CASH EQUIVALENTS, BEGINNING 11,189,191 11,083,592 10,747,998
CASH AND CASH EQUIVALENTS, ENDING 3,786,846 11,189,191 11,083,592
Less cash and cash equivalents from discontinued operations 0 4,499,343 5,038,900
CASH AND CASH EQUIVALENTS FROM CONTINUING OPERATIONS, end of period 3,786,846 6,689,848 6,044,692
Cash paid during the year      
Income taxes 188,932 382,741 405,948
Interest $ 3,769,498 $ 6,593,549 $ 5,537,477