Quarterly report pursuant to Section 13 or 15(d)

PREPAYMENT AND OTHER CURRENT ASSETS

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PREPAYMENT AND OTHER CURRENT ASSETS
6 Months Ended
Jun. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Other Current Assets [Text Block]
3. PREPAYMENT AND OTHER CURRENT ASSETS
 
Prepayment and other current assets mainly consist of the prepaid services for development, maintenance of online trading system, the advertising and promotional services, prepaid financial advisory and banking services, as well as other current assets. The prepayment was $1,140,497 and $968,446 as of June 30, 2017 and December 31, 2016, respectively.
   
 
 
June 30,
 
December 31,
 
 
 
2017
 
2016
 
 
 
(Unaudited)
 
 
 
Advertising and promotional services
 
 
536,470
 
 
296,163
 
Prepaid professional fee
 
 
185,937
 
 
-
 
Prepaid rental expense
 
 
145,009
 
 
60,822
 
Prepaid insurance
 
 
102,805
 
 
31,082
 
Prepaid maintenance of trading system
 
 
50,017
 
 
17,514
 
Staff advance
 
 
4,790
 
 
28,806
 
Prepaid financial advisory and banking services
 
 
97,884
 
 
201,808
 
Short-term borrowings to third party
 
 
-
 
 
259,254
 
Other current assets
 
 
17,585
 
 
72,997
 
Prepayment and other current assets
 
$
1,140,497
 
$
968,446