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Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
CURRENT ASSETS:    
Cash $ 5,489,404 $ 6,086,044
Accounts receivable, net 14,406,476 14,700,854
Accounts receivable - related parties, net 2,292,151 1,586,420
Inventories, net 22,175,769 22,669,225
Advances to suppliers, net 280,267 1,042,554
Advances to suppliers - related parties, net 1,526,482 3,248,309
Notes receivable 3,803,826
Less: Current portion 8,117,686
Other current assets 950,703 554,865
TOTAL CURRENT ASSETS 59,042,764 49,888,271
Property and equipment, net 22,650,021 21,709,467
Deferred tax assets 117,933
Long term notes receivable 764,493
Total 423,263 6,860,056
Other long-term assets 242,426 1,435,613
TOTAL ASSETS 82,476,407 80,657,900
CURRENT LIABILITIES:    
Lines of credit 8,194,146 11,894,146
Accounts payable 17,474,206 17,275,485
Accounts payable - related parties 3,923,120 4,075,927
Advance from customers 61,406 49,677
Advance from customers - related parties 166,490 1,350,296
Current portion of long-term debt, net 1,455,441 1,372,125
Current portion of obligations under capital leases 164,894 434,003
Income tax payable 512,415
Dividend payable 1,000,000
Accrued expenses 2,148,602 991,388
TOTAL CURRENT LIABILITIES 33,588,305 38,955,462
Long-term debt, net 13,109,854 14,249,579
Obligations under capital leases, non-current 120,705 118,535
Deferred tax liabilities 1,196,061 436,212
TOTAL LIABILITIES 48,014,925 53,759,788
Commitments and contingencies
EQUITY:    
Common Stock, $0.0001 par value, 30,000,000 shares authorized, 22,167,486 and 19,969,831 shares issued and outstanding as of December 31, 2018 and December 31, 2017, respectively 2,217 1,997
Additional paid-in capital 22,920,603 21,549,703
Retained earnings 10,433,984 4,255,213
Total shareholders’ equity 33,356,804 25,806,913
Noncontrolling interest 1,104,678 1,091,199
TOTAL EQUITY 34,461,482 26,898,112
TOTAL LIABILITIES AND EQUITY $ 82,476,407 $ 80,657,900