|6 Months Ended|
Jun. 30, 2018
|Subsequent Events [Abstract]|
NOTE 16 – SUBSEQUENT EVENTS
On July 17, 2018, the Company’s Board of Directors declared a cash dividend of $0.01 per share to the Company’s common stock shareholders of record on July 31, 2018.
On July 31, 2018, the Company signed a loan agreement with China Development Bank and borrowed $13.20 million from the bank. The loan is due on July 30, 2026 with annual interest rate of 5.39%.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef