Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2016

Summary of Significant Accounting Policies [Abstract]

	December 31, 2016			December 31, 2015

Current assets	$	3,658,364		$	2,179,580
Non-current assets		-			-
Total assets		3,658,364			2,179,580

Third-party liabilities		(821,246	)		(498,614	)
Intercompany payables*		(2,565,506	)		(1,412,380	)
Total liabilities		(3,386,752	)		(1,910,994	)
Net assets	$	271,612		$	268,586

*Payables to Taizhou Fuling and Great Plastics are eliminated upon consolidation.

	For the years ended
	December 31, 2016		December 31, 2015

Revenue	$	7,928,478	$	7,691,012
Net income (loss)	$	39	$	(183,074	)

	For the years ended
	December 31, 2016			December 31, 2015

Net cash (used in) provided by operating activities	$	(1,006,413	)	$	1,013,823
Net cash provided by (used in) financing activities*	$	1,153,126		$	(997,707	)
Net increase in cash and cash equivalents	$	146,713		$	16,116

* Intercompany financing activities are eliminated upon consolidation.

Schedule of estimated useful lives for property, plant and equipment

Items		Useful life
Property and buildings		10–20 years
Leasehold improvement		Lesser of useful life and lease term
Machinery equipment		3–10 years
Transportation vehicles		4–10 years
Office equipment and furniture		3–5 years

Schedule of estimated useful lives for intangible assets

Items		Useful life
Land use rights		50 years
Trademark		10 years
Patents		7-10 years

Schedule of foreign currency translations

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

December 31,
2016

December 31,
2015

Period-end spot rate

US $1=RMB 6.94477

US $1=RMB 6.4917

Average rate

US $1=RMB 6.64410

US $1=RMB 6.2288