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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
NET REVENUE        
Net revenue $ 5,359,483 $ 6,009,409 $ 5,917,153 $ 6,047,979
OPERATING INCOME (EXPENSE)        
Cost of net revenue (5,022,896) (2,990,330) (5,944,216) (3,026,737)
Sales, marketing and other operating expenses (10,838) (6,613) (13,081) (6,613)
Direct labor and factory overheads incurred during plant shutdown (1,737,599) (2,875,285) (5,348,022) (7,168,307)
General and administrative expenses (1,541,702) (1,335,347) (2,385,039) (3,440,518)
Other operating income (loss) 0 0 (15,776) 0
Total Costs and Expenses (8,313,035) (7,207,575) (13,706,134) (13,642,175)
LOSS FROM OPERATIONS (2,953,552) (1,198,166) (7,788,981) (7,594,196)
OTHER INCOME (EXPENSE)        
Interest expense (34,888) (38,396) (70,316) (77,220)
Interest income 71,188 132,873 145,844 268,452
LOSS BEFORE TAXES (2,917,252) (1,103,689) (7,713,453) (7,402,964)
INCOME TAX BENEFIT 672,633 365,983 1,929,076 1,761,120
NET LOSS (2,244,619) (737,706) (5,784,377) (5,641,844)
COMPREHENSIVE LOSS:        
NET LOSS (2,244,619) (737,706) (5,784,377) (5,641,844)
OTHER COMPREHENSIVE LOSS        
Foreign currency translation adjustments 221,869 (6,603,591) (4,293,490) (437,241)
COMPREHENSIVE INCOME (LOSS) $ (2,022,750) $ (7,341,297) $ (10,077,867) $ (6,079,085)
LOSS PER SHARE:        
BASIC AND DILUTED $ (0.24) $ (0.08) $ (0.61) $ (0.60)
WEIGHTED AVERAGE NUMBER OF SHARES:        
BASIC AND DILUTED 9,517,427 9,442,815 9,517,427 9,413,683