Annual report pursuant to Section 13 and 15(d)

Condensed Parent Company Financial Information (Details 2)

v3.6.0.2
Condensed Parent Company Financial Information (Details 2) - USD ($)
3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:                      
Net (loss) income $ 9,223 $ (13,899) $ (4,522) $ (5,479) $ (9,792) $ 22,518 $ (1,584) $ 8,416 $ (14,677,311) $ 19,558,402 $ 85,760,705
Changes in assets and liabilities:                      
Prepaid expenses                 (6,729) 30,633 4,213,938
Other receivable                 (1,994,127) 87,907 (156,606)
Accrued liabilities and other payables                 (334,820) (266,105) 1,019,221
Due to related parties                 20,000 1,292 23,352
NET CASH USED IN OPERATING ACTIVITIES                 (4,950,046) 40,853,550 33,928,408
CASH FLOWS FROM INVESTING ACTIVITIES                      
NET CASH USED IN INVESTING ACTIVITIES                 (13,081,250) (66,187,228) (35,862,379)
CASH FLOWS FROM FINANCING ACTIVITIES                      
Advances from related parties                 5,063,620 3,910,000 2,350,000
Payments made for dividend                 3,162,202 2,371,652 790,550
NET CASH PROVIDED BY FINANCING ACTIVITIES                 7,871,414 23,881,357 6,724,079
NET (DECREASE) INCREASE IN CASH                 (10,628,288) (1,303,588) 4,595,673
CASH AND CASH EQUIVALENTS - beginning of year       11,448,684       12,752,272 11,448,684 12,752,272 8,156,599
CASH AND CASH EQUIVALENTS - end of year 820,396       11,448,684       820,396 11,448,684 12,752,272
Parent [Member]                      
CASH FLOWS FROM OPERATING ACTIVITIES:                      
Net (loss) income                 (14,677,311) 19,558,402 85,760,705
Adjustments to reconcile net (loss) income to net cash used in operating activities:                      
Equity in loss (income) of subsidiaries and VIEs                 12,220,550 (21,633,959) (87,577,218)
Changes in assets and liabilities:                      
Prepaid expenses                 2,819 1
Other receivable                 (75,000) (33)
Accrued liabilities and other payables                 (11,099) (198,075)
Due to related parties                 20,000 2 23,352
NET CASH USED IN OPERATING ACTIVITIES                 (2,436,761) (2,158,835) (1,991,268)
CASH FLOWS FROM INVESTING ACTIVITIES                      
Investment payments to subsidiaries and VIEs                 (114,036) (244,033)
NET CASH USED IN INVESTING ACTIVITIES                 (114,036) (244,033)
CASH FLOWS FROM FINANCING ACTIVITIES                      
Cash acquired from subsidiaries and VIEs                 614,800 636,000 584,983
Advances from related parties                 5,063,620 3,910,000 2,350,000
Payments made for dividend                 (3,162,202) (2,371,652) (790,550)
NET CASH PROVIDED BY FINANCING ACTIVITIES                 2,516,218 2,174,348 2,144,433
NET (DECREASE) INCREASE IN CASH                 (34,579) (228,520) 153,165
CASH AND CASH EQUIVALENTS - beginning of year       $ 171,329       $ 399,849 171,329 399,849 246,684
CASH AND CASH EQUIVALENTS - end of year $ 136,750       $ 171,329       $ 136,750 $ 171,329 $ 399,849