Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 15,547,604 $ 13,395,337
Restricted cash 19,020,425 21,743,360
Account receivables, net 2,509,428 3,058,568
Prepayment and other current assets 1,140,497 968,446
Loan receivables 6,680,115 6,374,046
Total current assets 44,898,069 45,539,757
Non-current assets    
Property and equipment, net 2,074,072 2,065,182
Intangible assets 20,409 20,546
Deferred tax assets 266,515 243,772
Other non-current assets 416,517 428,764
Total non-current assets 2,777,513 2,758,264
Total assets 47,675,582 48,298,021
Current liabilities    
Accrued expenses and other payables 992,784 608,883
Customer deposits 19,020,425 21,743,360
Advance from customers 16,560 360,248
Short-term borrowings from third parties 6,244,811 6,308,513
Amount due to related party 1,024,918 1,031,805
Tax payables 865,267 549,897
Total current liabilities 28,164,765 30,602,706
Deferred tax liabilities 51,759 62,618
Total non-current liabilities 51,759 62,618
Total liabilities 28,216,524 30,665,324
NON-CURRENT LIABILITIES    
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY    
Common stock (1,000,000,000 shares authorized; $0.001 par value; 11,188,882 shares issued and outstanding as of June 30, 2017; 11,169,276 shares issued and outstanding as of December 31, 2016) 11,189 11,169
Additional paid-in capital 5,852,488 5,532,426
Retained earnings 14,292,329 13,172,671
Accumulated other comprehensive loss (696,948) (1,083,569)
Total stockholders’ equity 19,459,058 17,632,697
Total liabilities and stockholders’ equity $ 47,675,582 $ 48,298,021