Quarterly report pursuant to Section 13 or 15(d)

PREPAYMENT AND OTHER CURRENT ASSETS (Tables)

v3.7.0.1
PREPAYMENT AND OTHER CURRENT ASSETS (Tables)
6 Months Ended
Jun. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]
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