Defined Contribution Plan

6 Months Ended

Jun. 30, 2017

Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]

Defined Contribution Plan

19. Defined Contribution Plan

For our U.S. employees, during 2011, the Company began sponsoring a 401(k) defined contribution plan ("401(k) Plan") that provides for a 100% employer matching contribution of the first 3% and a 50% employer matching contribution of each additional percent contributed by an employee up to 5% of each employee’s pay. Employees become fully vested in employer matching contributions after six months of employment. Company 401(k) matching contributions were approximately approximately $904 and $2,100 for the three and six months ended June 30, 2017 respectively and $1,000 and $2,000 for the three and six months ended June 30, 2016 respectively.

Full time employees in the PRC participate in a government-mandated defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund and other welfare benefits are provided to employees. PRC labor regulations require the Company to make contributions based on certain percentages of the employees’ basic salaries. Other than  such contributions, there is no further obligation under these plans. The total contribution for such PRC employee benefits was $233,676 and $224,134 for the six months ended June 30, 2017 and 2016, respectively.