Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenue        
Listing fee revenue $ 843,205 $ 3,002,474 $ 3,151,151 $ 5,197,538
Commission revenue 1,803,212 926,789 3,473,825 2,070,260
Gross management fee revenue 272,420 431,584 564,971 560,075
Annual fee revenue 236 268 719 429
Authorized agent subscription revenue 0 322,158 0 643,741
Total revenue 2,919,073 4,683,273 7,190,666 8,472,043
Cost of revenue (267,508) (275,416) (530,167) (537,483)
Gross profit 2,651,565 4,407,857 6,660,499 7,934,560
Operating expenses        
General and administrative expenses (2,238,889) (1,770,351) (4,812,280) (3,331,724)
Selling expenses (310,332) (703,366) (647,859) (1,341,575)
Income from operations 102,344 1,934,140 1,200,360 3,261,261
Other income and expenses:        
Other income 141,853 99,887 254,211 150,530
Loan interest expense (153,812) 0 (303,703) 0
Exchange gain (loss) 228,014 (538,006) 348,951 (418,550)
Total other income (loss) 216,055 (438,119) 299,459 (268,020)
Income before provision for income taxes 318,399 1,496,021 1,499,819 2,993,241
Provision for income taxes (72,280) (379,178) (380,161) (780,346)
Net income 246,119 1,116,843 1,119,658 2,212,895
Foreign currency translation adjustment 252,094 (3,934) 386,621 8,150
Comprehensive income $ 498,213 $ 1,112,909 $ 1,506,279 $ 2,221,045
Earnings per common share - basic $ 0.02 $ 0.11 $ 0.10 $ 0.21
Earnings per common share - diluted $ 0.02 $ 0.10 $ 0.10 $ 0.20
Weighted average number of common shares outstanding -basic 11,188,882 10,632,276 10,963,724 10,632,276
Weighted average number of common shares outstanding-diluted 11,416,886 11,311,385 11,716,288 11,232,989