Cellular Biomedicine (CBMG) 10-K 13 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Feb. 28, 2017	Jun. 30, 2016
Document And Entity Information
Entity Registrant Name	Cellular Biomedicine Group, Inc.
Entity Central Index Key	1,378,624
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 117,728,971
Entity Common Stock, Shares Outstanding		14,281,380
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,016

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)		Dec. 31, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents		$ 39,252,432	$ 14,884,597
Accounts receivable, less allowance for doubtful amounts of $10,163 and $nil as of December 31, 2016 and December 31, 2015, respectively		39,974	630,332
Other receivables		412,727	271,344
Inventory		0	390,886
Prepaid expenses		986,951	367,050
Taxes recoverable		0	150,082
Total current assets		40,692,084	16,694,291
Investments		509,424	5,379,407
Property, plant and equipment, net		4,117,739	2,768,900
Goodwill		7,678,789	7,678,789
Intangibles, net		14,092,581	15,949,100
Long-term prepaid expenses and other assets		1,537,850	989,935
Total assets (1)	[1]	68,628,467	49,460,422
Liabilities:
Accounts payable		216,154	260,886
Accrued expenses		1,168,787	845,087
Taxes payable		28,875	0
Other current liabilities		950,220	1,913,284
Total current liabilities		2,364,036	3,019,257
Other non-current liabilities		370,477	76,229
Total liabilities (1)	[1]	2,734,513	3,095,486
Commitments and Contingencies (note 16)
Stockholders' equity:
Preferred stock, par value $.001, 50,000,000 shares authorized; none issued and outstanding as of December 31, 2016 and 2015, respectively		0	0
Common stock, par value $.001, 300,000,000 shares authorized; 14,281,378 and 11,711,645 issued and outstanding as of December 31, 2016 and 2015, respectively		14,281	11,711
Additional paid in capital		152,543,052	103,807,651
Accumulated deficit		(85,546,687)	(57,338,311)
Accumulated other comprehensive income (loss)		(1,116,692)	(116,115)
Total stockholders' equity		65,893,954	46,364,936
Total liabilities and stockholders' equity		$ 68,628,467	$ 49,460,422
[1]	The Company's consolidated assets as of December 31, 2016 and 2015 included $9,626,171 and $6,115,073, respectively, of assets of variable interest entities, or VIEs, that can only be used to settle obligations of the VIEs. Each of the following amounts represent the balances as of December 31, 2016 and 2015, respectively. These assets include cash and cash equivalents of $4,021,992 and $1,821,883; accounts receivable of $ nil and $337,345; other receivables of $370,702 and $136,621; inventory of $ nil and $180,973; prepaid expenses of $777,445 and $250,123; property, plant and equipment, net, of $2,398,576 and $1,145,924; intangibles of $1,613,582 and $1,892,551; and long-term prepaid expenses and other assets of $443,874 and $349,653. The Company's consolidated liabilities as of December 31, 2016 and 2015 included $1,372,391 and $1,478,160, respectively, of liabilities of the VIEs whose creditors have no recourse to the Company. These liabilities include accounts payable of $161,825 and $38,004; other payables of $407,769 and $914,817; payroll accrual of $792,706 and $464,510; and other non-current liabilities of $10,091 and $60,829. See further description in Note 6, Variable Interest Entities.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance for doubtful amounts	$ 10,163	$ 0
Stockholders' equity:
Preferred stock par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, Authorized	300,000,000	300,000,000
Common stock, Issued	14,281,378	11,711,645
Common stock, outstanding	14,281,378	11,711,645

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Consolidated Statements Of Operations And Comprehensive Loss
Net sales and revenue	$ 627,930	$ 2,505,423	$ 564,377
Operating expenses:
Cost of sales	860,417	1,880,331	242,215
General and administrative	11,670,506	13,068,255	7,875,413
Selling and marketing	425,040	709,151	314,894
Research and development	11,475,587	7,573,228	3,146,499
Impairment of investments	4,611,714	123,428	1,427,840
Total operating expenses	29,043,264	23,354,393	13,006,861
Operating loss	(28,415,334)	(20,848,970)	(12,442,484)
Other income:
Interest income	78,943	42,220	15,043
Other income	132,108	630,428	71,982
Total other income	211,051	672,648	87,025
Loss from continuing operations before taxes	(28,204,283)	(20,176,322)	(12,355,459)
Income taxes (expense) credit	(4,093)	728,601	0
Loss from continuing operations	(28,208,376)	(19,447,721)	(12,355,459)
Loss on discontinued operations, net of taxes	0	0	(3,119,152)
Net loss	(28,208,376)	(19,447,721)	(15,474,611)
Other comprehensive income (loss):
Cumulative translation adjustment	(743,271)	(307,950)	15,254
Unrecognized gain (loss) on investments	5,300,633	(1,376,540)	1,611,045
Reclassification adjustments, net of tax, in connection with other-than-temporary impairment of investments	(5,557,939)	0	0
Total other comprehensive income (loss):	(1,000,577)	(1,684,490)	1,626,299
Comprehensive loss	$ (29,208,953)	$ (21,132,211)	$ (13,848,312)
Loss per share for continuing operations:
Basic	$ (2.09)	$ (1.70)	$ (1.43)
Diluted	(2.09)	(1.70)	(1.43)
Loss per share for discontinued operations:
Basic	0	0	(0.36)
Diluted	0	0	(0.36)
Net loss per share :
Basic	(2.09)	(1.70)	(1.79)
Diluted	$ (2.09)	$ (1.70)	$ (1.79)
Weighted average common shares outstanding:
Basic	13,507,408	11,472,306	8,627,094
Diluted	13,507,408	11,472,306	8,627,094

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)	Common Stock	Preferred Stock	Additional Paid In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income(Loss)	Total
Beginning Balance, shares at Dec. 31, 2013	7,382,797	0
Beginning Balance, amount at Dec. 31, 2013	$ 7,383	$ 0	$ 37,861,593	$ (22,415,979)	$ (57,924)	$ 15,395,073
Common stock issued with PPM, shares	1,686,566
Common stock issued with PPM, amount	$ 1,686		11,120,270			11,121,956
Common stock issued for acquisition, shares	828,522
Common stock issued for acquisition, amount	$ 828		15,938,278			15,939,106
Exercise of stock options, shares	3,650
Exercise of stock options, amount	$ 4		19,383			19,387
Common stock issued for services, shares	43,760
Common stock issued for services, amount	$ 44		578,937
Stock based compensation, shares	13,413
Stock based compensation, amount	$ 13		207,188			207,201
Restricted stock grants, shares	13,862
Restricted stock grants, amount	$ 14		106,378			106,392
Accrual of stock options			1,636,311			1,636,311
Exercise of warrant issued in PPM, shares	1,017,765
Exercise of warrant issued in PPM, amount	$ 1,018		7,998,978			7,999,996
Unrecognized loss on investments, net of tax					1,611,045	1,611,045
Reclassification adjustments, net of tax, in connection with other-than-temporary impairment of investments						0
Foreign currency translation					15,254	15,254
Net loss				(15,474,611)		(15,474,611)
Ending Balance, shares at Dec. 31, 2014	10,990,335	0
Ending Balance, amount at Dec. 31, 2014	$ 10,990	$ 0	75,467,316	(37,890,590)	1,568,375	39,156,091
Common stock issued with PPM, shares	515,786
Common stock issued with PPM, amount	$ 516		18,584,338			18,584,854
Common stock issued for acquisition of intangible assets, shares	46,867
Common stock issued for acquisition of intangible assets, amount	$ 47		1,481,415			1,481,462
Exercise of stock options, shares	152,404
Exercise of stock options, amount	$ 152		682,151			682,303
Restricted stock grants, shares	6,253
Restricted stock grants, amount	$ 6		410,314			410,320
Accrual of stock options			7,182,117			7,182,117
Unrecognized loss on investments, net of tax					(1,376,540)	(1,376,540)
Reclassification adjustments, net of tax, in connection with other-than-temporary impairment of investments						0
Foreign currency translation					(307,950)	(307,950)
Net loss				(19,447,721)		(19,447,721)
Ending Balance, shares at Dec. 31, 2015	11,711,645	0
Ending Balance, amount at Dec. 31, 2015	$ 11,711	$ 0	103,807,651	(57,338,311)	(116,115)	46,364,936
Common stock issued with PPM, shares	2,348,888
Common stock issued with PPM, amount	$ 2,349		42,397,525			42,399,874
Exercise of stock options, shares	196,185
Exercise of stock options, amount	$ 196		885,484			885,680
Restricted stock grants, shares	24,660
Restricted stock grants, amount	$ 25		709,472			709,497
Accrual of stock options			4,742,920			4,742,920
Unrecognized loss on investments, net of tax					5,300,633	5,300,633
Reclassification adjustments, net of tax, in connection with other-than-temporary impairment of investments					(5,557,939)	(5,557,939)
Foreign currency translation					(743,271)	(743,271)
Net loss				(28,208,376)		(28,208,376)
Ending Balance, shares at Dec. 31, 2016	14,281,378	0
Ending Balance, amount at Dec. 31, 2016	$ 14,281	$ 0	$ 152,543,052	$ (85,546,687)	$ (1,116,692)	$ 65,893,954

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (28,208,376)	$ (19,447,721)	$ (15,474,611)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,635,001	2,094,644	1,190,505
Loss on disposal of assets	2,156	1,444	257,672
Stock based compensation expense	5,452,417	7,592,438	2,528,885
Other than temporary impairment on investments	4,611,714	123,428	1,427,840
Realized losses from sale of investments	0	5,178	5,913
Value of stock received for services	0	0	(1,610,000)
Impairment of goodwill	0	0	3,299,566
(Reversal) of inventory provision	(115,391)	123,848	0
Allowance for doubtful account	10,163	0	0
Decrease in fair value of accrued expenses for the acquisition of intangible assets	0	(345,882)	0
Deferred tax	0
Changes in operating assets and liabilities:
Accounts receivable	537,155	(497,937)	20,645
Other receivables	(156,672)	(143,711)	(25,638)
Inventory	514,734	(142,486)	(78,310)
Prepaid expenses	(669,598)	181,679	(494,057)
Taxes recoverable	150,082	(150,082)	0
Other current assets	0	110,347	24,314
Investments	0	0	7,150
Long-term prepaid expenses and other assets	(643,673)	(384,432)	(504,678)
Accounts payable	(28,205)	(166,032)	165,517
Accrued expenses	356,420	396,557	409,109
Advance payable to related party	0	(30,216)	0
Other current liabilities	(640,573)	113,919	(694,131)
Taxes payable	28,875	(814,288)	(176,583)
Other non-current liabilities	296,036	(371,793)	0
Net cash used in operating activities	(15,867,735)	(11,751,098)	(9,720,892)
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of business, net of cash acquired	0	(1,568,627)	(1,485,548)
Proceed from sale of investments, net of transaction costs	0	1,480	0
Purchases of intangible assets	(56,519)	(4,260,420)	(8,989)
Purchases of property, plant and equipment	(2,676,888)	(1,874,538)	(311,625)
Net cash used in investing activities	(2,733,407)	(7,702,105)	(1,806,162)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from the issuance of common stock	42,399,874	18,964,849	19,121,956
Proceeds from exercise of stock options	885,680	682,303	19,383
Repayment of advance from affiliate	0	0	(31,745)
Net cash provided by financing activities	43,285,554	19,647,152	19,109,594
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(316,577)	(79,936)	12,829
INCREASE IN CASH AND CASH EQUIVALENTS	24,367,835	114,013	7,595,369
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	14,884,597	14,770,584	7,175,215
CASH AND CASH EQUIVALENTS, END OF PERIOD	39,252,432	14,884,597	14,770,584
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for income taxes	6,705	108,075	460,924
Non-cash investing activities
Acquisition of intangible assets through issuance of the Company's stock	0	1,481,462	1,442,850
Acquisition of business through issuance of the Company's stock	$ 0	$ 0	$ 14,496,256

1. DESCRIPTION OF BUSINESS

1. DESCRIPTION OF BUSINESS	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
1. DESCRIPTION OF BUSINESS	As used in this report, "we", "us", "our", "CBMG", "Company" or "our company" refers to Cellular Biomedicine Group, Inc. and, unless the context otherwise requires, all of its subsidiaries. Overview Cellular Biomedicine Group, Inc. is a biomedicine company, principally engaged in the development of new treatments for cancerous and degenerative diseases utilizing proprietary cell-based technologies. Our technology includes two major platforms: (i) Immune Cell therapy for treatment of a broad range of cancers using : Chimeric Antigen Receptor T cell (CAR-T), cancer vaccine, and T Central Memory Cell (Tcm) technology, and (ii) human adipose-derived mesenchymal progenitor cells (haMPC) for treatment of joint and autoimmune diseases, with primary research and manufacturing facilities in China. We are focused on developing and marketing safe and effective cell-based therapies based on our cellular platforms, to treat serious diseases such as cancer, orthopedic diseases, various inflammatory diseases and metabolic diseases. We have developed proprietary practical knowledge in the use of cell-based therapeutics that we believe could be used to help a great number of people suffering from cancer and other serious chronic diseases. We are conducting clinical studies in China for stem cell based therapies to treat knee osteoarthritis (“KOA”). We have completed Phase IIb autologous haMPC KOA clinical study and published its promising results. Led by Shanghai Renji Hospital, one of the largest teaching hospitals in China, we launched Phase I clinical trial of an off-the-shelf allogeneic haMPC (AlloJoinTM) therapy for KOA. We have completed patient recruitment and treatment for Phase I clinical studies of KOA on August 5, 2016. We also initiated multiple dose preclinical studies in a Chronic Obstructive Pulmonary Disease ("COPD") animal model, and plan to initiate manufacturing of (AlloJoinTM) product for KOA preclinical and clinical studies in the United States. Our primary target market is Greater China. We believe that the results of our research, the acquired knowhow and clinical study results will help to cure or alleviate illness and suffering of the patients. We expect to carry out the clinical studies leading to eventual CFDA approval through IND filings and authorized treatment centers throughout Greater China. With the acquisition of the University of South Florida’s license on the next generation GVAX vaccine (CD40LGVAX) and its related standard operational procedures (SOPs), we have expanded our immuno-oncology portfolio significantly. We plan to use the knowledge we obtained from the previous phase l clinical study conducted in the U.S. by Moffitt center to support an investigator sponsored trial to evaluate the potential synergistic effect of the combination of CD40LGVAX with anti-PD1 checkpoint inhibitor, to treat a selected segment of late stage non-small cell lung cancer (NSCLC) adenocarcinoma patients. We may also seek approval to conduct clinical trials with leading non-U.S. medical centers or seek partnership for CD40LGVAX sub-license opportunities. With our recent build-up of multiple cancer therapeutic technologies, we have prioritized our clinical efforts on launching multiple trials for CAR-Ts in several indications and not actively pursuing the fragmented technical services opportunities. We are striving to build a highly competitive research and development function, a translational medicine team, along with a well-established cellular manufacturing capability for clinical grade materials, to support the development of multiple assets in several cancer indications. These efforts will allow us to boost the Company's Immuno-Oncology presence, and pave the way for future partnerships. Corporate History Cellular Biomedicine Group, Inc., (formerly known as EastBridge Investment Group Corporation) was originally incorporated in the State of Arizona on June 25, 2001 under the name ATC Technology Corporation. ATC Technology Corporation changed its corporate name to EastBridge Investment Group Corporation in September 2005 and changed its business focus to providing investment related services in Asia. On November 13, 2012, EastBridge Investment Group Corporation, an Arizona corporation (“EastBridge”), CBMG Acquisition Limited, a British Virgin Islands company and the Company’s wholly-owned subsidiary (“Merger Sub”) and Cellular Biomedicine Group Ltd. (“CBMG BVI”), a British Virgin Islands company, entered into a Merger Agreement, pursuant to which CBMG BVI was the surviving entity in a merger with Merger Sub whereby CBMG BVI became a wholly-owned subsidiary of the Company (the “Merger”). The Merger was consummated on February 6, 2013 (the “Closing Date”). Also in connection with the Merger, the Company created a new Delaware subsidiary named EastBridge Investment Corp. (“EastBridge Sub”). Pursuant to a Contribution Agreement by and between the Company and EastBridge Sub dated February 5, 2013, the Company contributed all of its then current assets and liabilities to EastBridge Sub which continued the business and operations of the Company at the subsidiary level. A copy of the Contribution Agreement is attached as Exhibit 10.1 to the Current Report on Form 8-K filed by the Company on February 12, 2013. As a result of the Merger, CBMG BVI and EastBridge Sub became the two direct subsidiaries of the Company. In connection with the Merger, effective March 5, 2013, the Company (formerly named “EastBridge Investment Group Corporation”) changed its name to “Cellular Biomedicine Group, Inc.” In addition in March 2013, the Company changed its corporate headquarters to 530 University Avenue in Palo Alto, California. From February 6, 2013 to June 23, 2014, we operated the Company in two separate reportable segments: (i) Biomedicine Cell Therapy (“Biomedicine”); and (ii) Financial Consulting (“Consulting”). The Consulting segment was conducted through EastBridge Sub. On June 23, 2014, the Company announced the discontinuation of the Consulting segment as it no longer fit into management’s long-term strategy and vision. The Company is now focusing resources on becoming a biotechnology company bringing therapies to improve the health of patients in China. On September 26, 2014, the Company completed its acquisition of Beijing Agreen Biotechnology Co. Ltd. ("AG") and the U.S. patent held by AG’s founder. AG is a biotech company with operations in China, engaged in the development of treatments for cancerous diseases utilizing proprietary cell technologies, which include without limitation, preparation of subset T Cell and clonality assay platform technology for treatment of a broad range of cancers by AG’s served hospital, Jilin Hospital. At the end of September, 2015, the Company moved its corporate headquarters to 19925 Stevens Creek Blvd., Suite 100 in Cupertino, California.

2. BASIS OF PRESENTATION

2. BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
2. BASIS OF PRESENTATION	The consolidated financial statements include the financial statements of the Company and all of its subsidiaries and variable interest entities. All significant inter-company transactions and balances are eliminated upon consolidation. The consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (“GAAP”).

3. SUMMARY OF SIGNIFICANT ACCOU

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Significant accounting policies are as follows: Principles of Consolidation The consolidated financial statements have been prepared in conformity with GAAP, and reflect the accounts and operations of the Company and its subsidiaries, beginning with the date of their respective acquisition. In accordance with the provisions of Financial Accounting Standards Board (“FASB”), Accounting Standards Codification (“ASC”) Topic 810, or ASC 810, Consolidation Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. These estimates and assumptions also affect the reported amounts of revenues, costs and expenses during the reporting period. Management evaluates these estimates and assumptions on a regular basis. Significant accounting estimates reflected in the Company’s consolidated financial statements include inventory valuation, account receivable valuation, useful lives of property, plant and equipment and acquired intangibles, the valuation allowance for deferred income tax assets, valuation of goodwill, valuation of long-lived assets and share-based compensation expense. Actual results could materially differ from those estimates. Revenue Recognition The Company utilizes the guidance set forth in the FASB’s ASC Topic 605, “Revenue Recognition”, regarding the recognition, presentation and disclosure of revenue in its financial statements. The Company recognizes revenue when pervasive evidence of an arrangement exists, the price is fixed and determinable, collection is reasonably assured and delivery of products or services has been rendered. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. At December 31, 2016 and 2015, respectively, cash and cash equivalents include cash on hand and cash in the bank. At times, cash deposits may exceed government-insured limits. Accounts Receivable Accounts receivable represent amounts earned but not collected in connection with the Company’s sales as of December 31, 2016 and 2015. Account receivables are carried at their estimated collectible amounts. The Company follows the allowance method of recognizing uncollectible accounts receivable. The Company recognizes bad debt expense based on specifically identified customers and invoices that are anticipated to be uncollectable. At December 31, 2016, allowance of $10,163 was provided for debtors of certain customers as those debts are unrecoverable from customers. No allowance was provided as of December 31, 2015 as the Company was receiving continuous settlement and there was no indication of debts unrecoverable from customers. Inventory Inventories consist of raw materials, work-in-process, semi-finished goods and finished goods. Inventories are initially recognized at cost and subsequently at the lower of cost and net realizable value under first-in first-out method. Finished goods are comprised of direct materials, direct labor, depreciation and manufacturing overhead. Net realizable value is the estimated selling price, in the ordinary course of business, less estimated costs to complete and dispose. The Company regularly inspects the shelf life of prepared finished goods and, if necessary, writes down their carrying value based on their salability and expiration dates into cost of goods sold. Property, Plant and Equipment Property, plant and equipment are recorded at cost. Depreciation is provided for on the straight-line method over the estimated useful lives of the assets ranging from three to ten years and begins when the related assets are placed in service. Maintenance and repairs that neither materially add to the value of the property nor appreciably prolong its life are charged to expense as incurred. Betterments or renewals are capitalized when incurred. Plant, property and equipment are reviewed each year to determine whether any events or circumstances indicate that the carrying amount of the assets may not be recoverable. We assess the recoverability of the asset by comparing the projected undiscounted net cash flows associated with the related assets over the estimated remaining life against the respective carrying value. For the years ended December 31, 2016, 2015 and 2014, depreciation expense was $850,793, $573,015 and $586,679, respectively. Goodwill and Other Intangibles Goodwill represents the excess of the cost of assets acquired over the fair value of the net assets at the date of acquisition. Intangible assets represent the fair value of separately recognizable intangible assets acquired in connection with the Company’s business combinations. The Company evaluates its goodwill and other intangibles for impairment on an annual basis or whenever events or circumstances indicate that impairment may have occurred. The carrying amount of the goodwill at December 31, 2016 and 2015 represents the cost arising from the business combinations in previous years and no impairment on goodwill was recognized for the years ended December 31, 2016 and 2015. As part of the determination to discontinue the Consulting segment, the Company has written off goodwill of approximately $3,300,000 during the year ended December 31, 2014. Valuation of long-lived asset The Company reviews the carrying value of long-lived assets to be held and used, including other intangible assets subject to amortization, when events and circumstances warrants such a review. The carrying value of a long-lived asset is considered impaired when the anticipated undiscounted cash flow from such asset is separately identifiable and is less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair market value of the long-lived asset and intangible assets. Fair market value is determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved. Losses on long-lived assets and intangible assets to be disposed are determined in a similar manner, except that fair market values are reduced for the cost to dispose. Income Taxes Income taxes are accounted for using the asset and liability method. Under this method, deferred income tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which these temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance would be provided for those deferred tax assets if it is more likely than not that the related benefit will not be realized. A full valuation allowance has been established against all net deferred tax assets as of December 31, 2016 and 2015 based on estimates of recoverability. While the Company has optimistic plans for its business strategy, we determined that such a valuation allowance was necessary given the current and expected near term losses and the uncertainty with respect to the Company’s ability to generate sufficient profits from its business model. Share-Based Compensation The Company periodically uses stock-based awards, consisting of shares of common stock and stock options, to compensate certain officers and consultants. Shares are expensed on a straight line basis over the requisite service period based on the grant date fair value, net of estimated forfeitures, if any. We currently use the Black-Scholes option-pricing model to estimate the fair value of our stock-based payment awards. This model requires the input of highly subjective assumptions, including the fair value of the underlying common stock, the expected volatility of the price of our common stock, risk-free interest rates, the expected term of the option and the expected dividend yield of our common stock. These estimates involve inherent uncertainties and the application of management’s judgment. If factors change and different assumptions are used, our stock-based compensation expense could be materially different in the future. These assumptions are estimated as follows: ● Fair Value of Our Common Stock — Our common stock is valued by reference to the publicly-traded price of our common stock. ● Expected Volatility — Prior to the Eastbridge merger, we did not have a history of market prices for our common stock and since the merger, we do not have what we consider a sufficiently active and readily traded market for our common stock to use historical market prices for our common stock to estimate volatility. Accordingly, we estimate the expected stock price volatility for our common stock by taking the median historical stock price volatility for industry peers based on daily price observations over a period equivalent to the expected term of the stock option grants. Industry peers consist of other public companies in the stem cell industry similar in size, stage of life cycle and financial leverage. We intend to continue to consistently apply this process using the same or similar public companies until a sufficient amount of historical information regarding the volatility of our own common stock share price becomes available. ● Risk-Free Interest Rate — The risk-free interest rate assumption is based on observed interest rates appropriate for the expected terms of our awards. The risk-free interest rate assumption is based on the yields of U.S. Treasury securities with maturities similar to the expected term of the options for each option group. ● Expected Term — The expected term represents the period that our stock-based awards are expected to be outstanding. The expected terms of the awards are based on a simplified method which defines the life as the average of the contractual term of the options and the weighted-average vesting period for all open tranches. ● Expected Dividend Yield — We have never declared or paid any cash dividends and do not presently plan to pay cash dividends in the foreseeable future. Consequently, we used an expected dividend yield of zero. In addition to the assumptions used in the Black-Scholes option-pricing model, the amount of stock option expense we recognize in our consolidated statements of operations includes an estimate of stock option forfeitures. We estimate our forfeiture rate based on an analysis of our actual forfeitures and will continue to evaluate the appropriateness of the forfeiture rate based on actual forfeiture experience, analysis of employee turnover and other factors. Changes in the estimated forfeiture rate can have a significant impact on our stock-based compensation expense as the cumulative effect of adjusting the rate is recognized in the period the forfeiture estimate is changed. If a revised forfeiture rate is higher than the previously estimated forfeiture rate, an adjustment is made that will result in a decrease to the stock-based compensation expense recognized in the consolidated financial statements. If a revised forfeiture rate is lower than the previously estimated forfeiture rate, an adjustment is made that will result in an increase to the stock-based compensation expense recognized in our consolidated financial statements. Fair Value of Financial Instruments Under the FASB’s authoritative guidance on fair value measurements, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining the fair value, the Company uses various methods including market, income and cost approaches. Based on these approaches, the Company often utilizes certain assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated or generally unobservable inputs. The Company uses valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. Based on observability of the inputs used in the valuation techniques, the Company is required to provide the following information according to the fair value hierarchy. The fair value hierarchy ranks the quality and reliability of the information used to determine fair values. Financial assets and liabilities carried at fair value are classified and disclosed in one of the following three categories: Level 1: Valuations for assets and liabilities traded in active exchange markets. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2: Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained from third party pricing services for identical or similar assets or liabilities. Level 3: Valuations for assets and liabilities that are derived from other valuation methodologies, including option pricing models, discounted cash flow models and similar techniques, and not based on market exchange, dealer or broker traded transactions. Level 3 valuations incorporate certain unobservable assumptions and projections in determining the fair value assigned to such assets. All transfers between fair value hierarchy levels are recognized by the Company at the end of each reporting period. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. The inputs or methodology used for valuing financial instruments are not necessarily an indication of the risks associated with investment in those instruments. The carrying amounts of other financial instruments, including cash, accounts receivable, accounts payable and accrued liabilities, income tax payable and related party payable approximate fair value due to their short maturities. Investments The fair value of “investments” is dependent on the type of investment, whether it is marketable or non-marketable. Marketable securities held by the Company are held for an indefinite period of time and thus are classified as available-for-sale securities. The fair value is based on quoted market prices for the investment as of the balance sheet date. Realized investment gains and losses are included in the statement of operations, as are provisions for other than temporary declines in the market value of available for-sale securities. Unrealized gains and unrealized losses deemed to be temporary are excluded from earnings (losses), net of applicable taxes, as a component of other comprehensive income (loss). Factors considered in judging whether an impairment is other than temporary include the financial condition, business prospects and creditworthiness of the issuer, the length of time that fair value has been less than cost, the relative amount of decline, and the Company’s ability and intent to hold the investment until the fair value recovers. Basic and Diluted Net Loss Per Share Diluted net loss per share reflects potential dilution from the exercise or conversion of securities into common stock. The dilutive effect of the Company's share-based awards is computed using the treasury stock method, which assumes that all share-based awards are exercised and the hypothetical proceeds from exercise are used to purchase common stock at the average market price during the period. Share-based awards whose effects are anti-dilutive are excluded from computing diluted net loss per share. Foreign Currency Translation The Company's financial statements are presented in U.S. dollars ($), which is the Company’s reporting currency, while some of the Company’s subsidiaries’ functional currency is Chinese Renminbi (RMB). Transactions in foreign currencies are initially recorded at the functional currency rate ruling at the date of transaction. Any differences between the initially recorded amount and the settlement amount are recorded as a gain or loss on foreign currency transaction in the consolidated statements of operations. Monetary assets and liabilities denominated in foreign currency are translated at the functional currency rate of exchange ruling at the balance sheet date. Any differences are recorded as an unrealized gain or loss on foreign currency translation in the statements of operations and comprehensive loss. In accordance with ASC 830, Foreign Currency Matters, the Company translates the assets and liabilities into USD from RMB using the rate of exchange prevailing at the applicable balance sheet date and the statements of income and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation are recorded in shareholders' equity as part of accumulated other comprehensive income. The PRC government imposes significant exchange restrictions on fund transfers out of the PRC that are not related to business operations. Comprehensive Loss We apply ASC No. 220, Comprehensive Income Reclassification Certain prior period amounts have been reclassified to conform to current year presentations. There was no change to previously reported stockholders’ deficit or net loss. Segment Information FASB ASC Topic 280, “Segment Reporting” establishes standards for reporting information about reportable segments. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision-making group in deciding how to allocate resources and in assessing performance. Following the discontinuance of our consulting business, we operate in a single reportable segment. Recent Accounting Pronouncements Recent accounting pronouncements that the Company has adopted or may be required to adopt in the future are summarized below. In January 2017, the FASB issued Accounting Standards Update (“ASU”) No. 2017-04, “Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” (“ASU 2017-04”), which removes Step 2 from the goodwill impairment test. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. Public business entity that is a U.S. Securities and Exchange Commission filer should adopt the amendments in this ASU for its annual or any interim goodwill impairment test in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We are currently evaluating the impact of the adoption of ASU 2017-04 on our consolidated financial statements. In November 2016, the FASB issued ASU No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash” (“ASU 2016-18”), which requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments in this ASU do not provide a definition of restricted cash or restricted cash equivalents. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. We are currently evaluating the impact of the adoption of ASU 2016-18 on our consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”), which addresses the following eight specific cash flow issues: debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies; distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. We are currently evaluating the impact of the adoption of ASU 2016-15 on our consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). Financial Instruments—Credit Losses (Topic 326) amends guideline on reporting credit losses for assets held at amortized cost basis and available-for-sale debt securities. For assets held at amortized cost basis, Topic 326 eliminates the probable initial recognition threshold in current GAAP and, instead, requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. For available-for-sale debt securities, credit losses should be measured in a manner similar to current GAAP, however Topic 326 will require that credit losses be presented as an allowance rather than as a write-down. ASU 2016-13 affects entities holding financial assets and net investment in leases that are not accounted for at fair value through net income. The amendments affect loans, debt securities, trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. The amendments in this ASU will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are currently evaluating the impact of the adoption of ASU 2016-13 on our consolidated financial statements. In April 2016, the FASB issued ASU No. 2016-09, “Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”), which simplifies several aspects of the accounting for employee share-based payment transactions. The areas for simplification in ASU 2016-09 include the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The amendments in this ASU will be effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Early adoption is permitted. We are currently evaluating the impact of the adoption of ASU 2016-09 on our consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). The amendments in this update create Topic 842, Leases, and supersede the leases requirements in Topic 840, Leases. Topic 842 specifies the accounting for leases. The objective of Topic 842 is to establish the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. The main difference between Topic 842 and Topic 840 is the recognition of lease assets and lease liabilities for those leases classified as operating leases under Topic 840. Topic 842 retains a distinction between finance leases and operating leases. The classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the previous leases guidance. The result of retaining a distinction between finance leases and operating leases is that under the lessee accounting model in Topic 842, the effect of leases in the statement of comprehensive income and the statement of cash flows is largely unchanged from previous GAAP. The amendments in ASU 2016-02 are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years for public business entities. Early application of the amendments in ASU 2016-02 is permitted. We are currently in the process of evaluating the impact of the adoption of ASU 2016-02 on our consolidated financial statements. In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASU 2016-01”). The amendments in this update require all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). The amendments in this update also require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition the amendments in this update eliminate the requirement for to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public entities. For public business entities, the amendments in ASU 2016-01 are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Except for the early application guidance discussed in ASU 2016-01, early adoption of the amendments in this update is not permitted. We do not expect the adoption of ASU 2016-01 to have a material impact on our consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes” (“ASU 2015-17”). Topic 740, Income Taxes, requires an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. Deferred tax liabilities and assets that are not related to an asset or liability for financial reporting are classified according to the expected reversal date of the temporary difference. To simplify the presentation of deferred income taxes, the amendments in ASU 2015-17 require that deferred income tax liabilities and assets be classified as noncurrent in a classified statement of financial position. For public business entities, the amendments in this update are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. We do not expect the adoption of ASU 2015-17 to have a material impact on our consolidated financial statements. In July 2015, the FASB issued ASU No. 2015-11, “Inventory (Topic 330): Simplifying the Measurement of Inventory” (“ASU 2015-11”). The amendments in this update require an entity to measure inventory within the scope of ASU 2015-11 (the amendments in ASU 2015-11 do not apply to inventory that is measured using last-in, first-out or the retail inventory method. The amendments apply to all other inventory, which includes inventory that is measured using first-in, first-out or average cost) at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is uncharged for inventory measured using last-in, first-out or the retail inventory method. The amendments in ASU 2015-11 more closely align the measurement of inventory in U.S. GAAP with the measurement of inventory in International Financial Reporting Standards (“IFRS”). ASU 2015-11 is effective for public business entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments in ASU 2015-11 should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. We do not expect the adoption of ASU No. 2015-11 to have a material impact on our consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). ASU 2014-09 supersedes the revenue recognition requirements in “Revenue Recognition (Topic 605)”, and requires entities to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. The FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date” (“ASU 2015-14”) in August 2015. The amendments in ASU 2015-14 defer the effective date of ASU 2014-09. Public business entities, certain not-for-profit entities, and certain employee benefit plans should apply the guidance in ASU 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier adoption is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. Further to ASU 2014-09 and ASU 2015-14, the FASB issued ASU No. 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)” (“ASU 2016-08”) in March 2016, ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing” (“ASU 2016-10”) in April 2016, ASU No. 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients” (“ASU 2016-12”), and ASU No. 2016-20, “Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers” (“ASU 2016-20”), respectively. The amendments in ASU 2016-08 clarify the implementation guidance on principal versus agent considerations, including indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to the customers. ASU 2016-10 clarifies guideline related to identifying performance obligations and licensing implementation guidance contained in the new revenue recognition standard. The updates in ASU 2016-10 include targeted improvements based on input the FASB received from the Transition Resource Group for Revenue Recognition and other stakeholders. It seeks to proactively address areas in which diversity in practice potentially could arise, as well as to reduce the cost and complexity of applying certain aspects of the guidance both at implementation and on an ongoing basis. ASU 2016-12 addresses narrow-scope improvements to the

4. BUSINESS COMBINATION

4. BUSINESS COMBINATION	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
4. BUSINESS COMBINATION	On September 26, 2014, the Company acquired all of the outstanding equity of Agreen Biotech Co. Ltd. ("AG") in exchange for cash of $3,240,000 and the issuance of 753,522 shares of its common stock. Based on the closing price of the common stock on September 26, 2014, the aggregate purchase price was $17,745,415. As a result of the acquisition, AG became a wholly-owned subsidiary of CBMG Shanghai. The acquisition was accounted for as a business purchase pursuant to ASC Topic 805, Business Combinations AG is a cancer-therapy-focused company whose intellectual property (including the intellectual property of AG’s founder, which is directed to kit for detecting human T-cell receptor (TCR) Vb repertoires, which the Company also acquired) is comprised of T Cells Receptor ("TCR") clonality analysis technology and T Central Memory Cell ("Tcm") and Dendritic Cell ("DC") preparation methodologies. The following table provides the initial allocation of purchase price based on the estimated fair values of the assets acquired (including intangible assets) and liabilities assumed in connection with the acquisition: Cash $ 145,611 Accounts receivable 151,093 Other receivable 31,798 Inventory 174,820 Prepaid expenses 14,331 Property, plant and equipment, net 561,113 Intangible assets 9,942,000 Goodwill 7,678,786 Long-term prepaid expenses 83,054 Total assets acquired 18,782,606 Accounts payables (47,509 ) Accrued expenses (42,013 ) Other current liabilities (523,077 ) Other non current liabilities (422,592 ) Total liabilities assumed (1,035,191 ) Net assets acquired $ 17,747,415 The intangible assets acquired consist of developed technology in connection with AG’s core business, which are being amortized over an estimated life of ten years. As part of the AG acquisition, the Company acquired existing patents and intellectual property that were owned by AG’s primary shareholder in exchange for 75,000 shares with a fair value of approximately $1,442,850. These assets are also reflected as intangible assets in the accompanying consolidated balance sheet since September 30, 2014 and are being amortized over an estimated life of 10 years. The following unaudited pro forma consolidated results of operations has been prepared as if the acquisition of AG and related patents and intellectual property described above had occurred on January 1, 2014 and includes adjustments for the amortization of intangibles and the earnings-per-share impacts of the issuance of shares as part of the acquisition of AG and related patents and intellectual property: Year Ended December 31, 2014 CBMG Agreen Pro forma As stated Pro forma Adjustment Consolidated Net sales and revenue $ 564,377 $ 1,198,414 $ 1,762,791 Net loss (15,474,611 ) (48,109 ) (15,522,720 ) Weighted average common shares outstanding: Basic 8,627,094 555,335 9,182,429 Diluted 8,627,094 555,335 9,182,429 Earnings (loss) per share net loss: Basic $ (1.79 ) $ (0.09 ) $ (1.69 ) Diluted $ (1.79 ) $ (0.09 ) $ (1.69 )

5. DISCONTINUED OPERATIONS

5. DISCONTINUED OPERATIONS	12 Months Ended
	Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
5. DISCONTINUED OPERATIONS	On June 23, 2014, at a Board of Directors meeting, the Company approved the discontinuation of all activities of the Consulting segment. Accordingly, based on management’s intent at June 30, 2014, the Company discontinued the Consulting segment. The Company had liquidated all of the Consulting segment’s remaining assets and settled all related liabilities as of December 31, 2014. Amounts presented for the year ended December 31, 2014, have been reclassified to conform to the current presentation. The following table provides the amounts reclassified for the year ended December 31, 2014: Year Ended December 31, 2014 Amounts reclassified: Consulting revenue $ 1,612,746 Consulting operating expenses (1,352,189 ) Selling and marketing (27,673 ) Impairment expense (3,299,566 ) Other income (expense) (1,725 ) Income tax provision (50,745 ) Total amount reclassified as discontinued operations $ (3,119,152 ) All income and expenses for the years ended December 31, 2016 and 2015 were attributable to the operating results of the Company’s continuing operations.

6. VARIABLE INTEREST ENTITY

6. VARIABLE INTEREST ENTITY	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
6. VARIABLE INTEREST ENTITY	VIEs are those entities in which a company, through contractual arrangements, bears the risk of, and enjoys the rewards normally associated with ownership of the entity, and therefore the Company is the primary beneficiary of the entity. Cellular Biomedicine Group Ltd (Shanghai) (“CBMG Shanghai”) and its subsidiaries are variable interest entities (VIEs), through which the Company conducts stem cell and immune therapy research and clinical trials in China. The registered shareholders of CBMG Shanghai are Lu Junfeng and Chen Mingzhe, who together own 100% of the equity interests in CBMG Shanghai. The initial capitalization and operating expenses of CBMG Shanghai are funded by our wholly foreign-owned enterprise (“WFOE”), Cellular Biomedicine Group Ltd. (Wuxi) (“CBMG Wuxi”). The registered capital of CBMG Shanghai is ten million RMB and was incorporated on October 19, 2011. AG was 100% acquired by CBMG Shanghai in September 2014. The registered capital of AG is five million RMB and was incorporated on April 27, 2011. For the year ended December 31, 2016, 2015 and 2014, 78%, 80% and 100% of the Company revenue is derived from VIEs respectively. In February 2012, CBMG Wuxi provided financing to CBMG Shanghai in the amount of $1,587,075 for working capital purposes. In conjunction with the provided financing, exclusive option agreements were executed granting CBMG Wuxi the irrevocable and exclusive right to convert the unpaid portion of the provided financing into equity interest of CBMG Shanghai at CBMG Wuxi’s sole and absolute discretion. CBMG Wuxi and CBMG Shanghai additionally executed a business cooperation agreement whereby CBMG Wuxi is to provide CBMG Shanghai with technical and business support, consulting services, and other commercial services. The shareholders of CBMG Shanghai pledged their equity interest in CBMG Shanghai as collateral in the event CBMG Shanghai does not perform its obligations under the business cooperation agreement. The Company has determined it is the primary beneficiary of CBMG Shanghai by reference to the power and benefits criterion under ASC Topic 810, Consolidation. This determination was reached after considering the financing provided by CBMG Wuxi to CBMG Shanghai is convertible into equity interest of CBMG Shanghai and the business cooperation agreement grants the Company and its officers the power to manage and make decisions that affect the operation of CBMG Shanghai. There are substantial uncertainties regarding the interpretation, application and enforcement of PRC laws and regulations, including but not limited to the laws and regulations governing our business or the enforcement and performance of our contractual arrangements. See Risk Factors below regarding “Risks Related to Our Structure”. The Company has not provided any guarantees related to VIEs and no creditors of VIEs have recourse to the general credit of the Company. As the primary beneficiary of CBMG Shanghai and its subsidiaries, the Company consolidates in its financial statements the financial position, results of operations, and cash flows of CBMG Shanghai and its subsidiaries, and all intercompany balances and transactions between the Company and CBMG Shanghai and its subsidiaries are eliminated in the consolidated financial statements. The Company has aggregated the financial information of CBMG Shanghai and its subsidiaries in the table below. The aggregate carrying value of assets and liabilities of CBMG Shanghai and its subsidiaries (after elimination of intercompany transactions and balances) in the Company’s consolidated balance sheets as of December 31, 2016 and 2015 are as follows: December 31, December 31, 2016 2015 Assets Cash $ 4,021,992 $ 1,821,883 Accounts receivable - 337,345 Other receivables 370,702 136,621 Inventory - 180,973 Prepaid expenses 777,445 250,123 Total current assets 5,170,139 2,726,945 Property, plant and equipment, net 2,398,576 1,145,924 Intangibles 1,613,582 1,892,551 Long-term prepaid expenses and other assets 443,874 349,653 Total assets $ 9,626,171 $ 6,115,073 Liabilities Accounts payable $ 161,825 $ 38,004 Other payables 407,769 914,817 Payroll accrual 792,706 464,510 Total current liabilities $ 1,362,300 $ 1,417,331 Other non-current liabilities 10,091 60,829 Total liabilities $ 1,372,391 $ 1,478,160

7. OTHER RECEIVABLES

7. OTHER RECEIVABLES	12 Months Ended
	Dec. 31, 2016
Other Receivables
7. OTHER RECEIVABLES	The Company pays deposits on various items relating to office expenses. Management has classified these deposits as receivables as the intention is to recover these deposits in less than 12 months. As of December 31, 2016 and 2015 the amounts of other receivables was $412,727 and $271,344, respectively.

8. INVENTORY

8. INVENTORY	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
8. INVENTORY	At December 31, 2016 and 2015, inventory consisted of the following: December 31, 2016 December 31, 2015 Raw Materials - $ 357,896 Work in progress - - Semi-finished goods - 15,346 Finished goods - 17,644 - $ 390,886 Provision for inventories is as below: 2016 2015 2014 Balance at the beginning of year $ 123,848 $ - $ - Addition 110,145 123,848 - Reversal (225,536 ) - - Exchange difference (8,457 ) - - Balance at the end of the year $ - $ 123,848 $ -

9. PROPERTY, PLANT AND EQUIPMEN

9. PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
9. PROPERTY, PLANT AND EQUIPMENT	As of December 31, 2016 and 2015, property, plant and equipment, carried at cost, consisted of the following: December 31, 2016 December 31, 2015 Office equipment $ 80,485 $ 24,526 Manufacturing equipment 3,347,458 2,680,805 Computer equipment 162,769 150,698 Leasehold improvements 1,912,573 1,417,997 Construction in progress 1,172,433 680,740 6,675,718 4,954,766 Less: accumulated depreciation (2,557,979 ) (2,185,866 ) $ 4,117,739 $ 2,768,900 Depreciation expense for the years ended December 31, 2016, 2015 and 2014 was $850,793, $573,015 and $586,679, respectively.

10. INVESTMENTS

10. INVESTMENTS	12 Months Ended
	Dec. 31, 2016
Schedule of Investments [Abstract]
10. INVESTMENTS	The Company’s investments represent the investment in equity securities listed in Over-The-Counter (“OTC”) markets of the United States of America: December 31, 2016 Adjusted Cost Gross Unrealized Gains Gross Unrealized Losses more than 12 months Gross Unrealized Losses less than 12 months Market or Fair Value Equity position in Alpha Lujo, Inc. $ 251,388 $ - $ - $ (221,964 ) $ 29,424 Equity position in Arem Pacific Corporation 480,000 - - - 480,000 Total $ 731,388 $ - $ - $ (221,964 ) $ 509,424 December 31, 2015 Adjusted Cost Gross Unrealized Gains Gross Unrealized Losses more than 12 months Gross Unrealized Losses less than 12 months Market or Fair Value Equity position in Alpha Lujo, Inc. $ 251,388 $ - - $ (133,694 ) $ 117,694 Equity position in Arem Pacific Corporation $ 5,030,000 $ 170,000 - - $ 5,200,000 Equity position in Wonder International Education & Investment Group Corporation $ 61,713 $ - - - $ 61,713 Total $ 5,343,101 $ 170,000 $ - $ (133,694 ) $ 5,379,407 There were no net proceeds from sale of investments for the year ended December 31, 2016. Net proceeds from sale of investments for the year ended December 31, 2015 was $1,480. Net realized losses from sale of investments for the year ended December 31, 2016, 2015 and 2014 was $ nil, $5,178 and $5,913, respectively. The unrealized holding gain (loss) for the investments, net of tax that were recognized in other comprehensive income for the year ended December 31, 2016 was other comprehensive gain of $5,300,633, as compared to $(1,376,540) and $1,611,045 for the year ended December 31, 2015 and 2014, respectively. Reclassification adjustment of $5,557,939 in connection with other-than-temporary impairment of investments was recorded in other comprehensive income for the year ended December 31, 2016. No adjustment was recorded in other comprehensive income for the year ended December 31, 2015 and 2014. The Company tracks each investment with an unrealized loss and evaluates them on an individual basis for other-than-temporary impairments, including obtaining corroborating opinions from third party sources, performing trend analysis and reviewing management’s future plans. When investments have declines determined by management to be other-than-temporary the Company recognizes write downs through earnings. Other-than-temporary impairment of investments for the year ended December 31, 2016 was $4,611,714. For the years ended December 31, 2015 and 2014, other-than-temporary impairment of investments was $123,428 and $1,427,840, respectively.

11. FAIR VALUE ACCOUNTING

11. FAIR VALUE ACCOUNTING	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
11. FAIR VALUE ACCOUNTING	The Company has adopted ASC Topic 820, Fair Value Measurement and Disclosure, which defines fair value, establishes a framework for measuring fair value in GAAP, and expands disclosures about fair value measurements. It does not require any new fair value measurements, but provides guidance on how to measure fair value by providing a fair value hierarchy used to classify the source of the information. It establishes a three-level valuation hierarchy of valuation techniques based on observable and unobservable inputs, which may be used to measure fair value and include the following: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Classification within the hierarchy is determined based on the lowest level of input that is significant to the fair value measurement. The carrying value of financial items of the Company including cash and cash equivalents, accounts receivable, other receivables, accounts payable and accrued liabilities, approximate their fair values due to their short-term nature and are classified within Level 1 of the fair value hierarchy. The Company’s investments are classified within Level 2 of the fair value hierarchy because of the insufficient volatility of the three stocks traded in OTC market. The Company did not have any Level 3 financial instruments as of December 31, 2016 and 2015. Assets measured at fair value within Level 2 on a recurring basis as of December 31, 2016 and 2015 are summarized as follows: As of December 31, 2016 Fair Value Measurements at Reporting Date Using: Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Assets: Equity position in Alpha Lujo, Inc. $ 29,424 $ - $ 29,424 $ - Equity position in Arem Pacific Corporation 480,000 - 480,000 - $ 509,424 $ - $ 509,424 $ - As of December 31, 2015 Fair Vaue Measurements at Reporting Date Using: Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Assets: Equity position in Alpha Lujo, Inc. $ 117,694 $ - $ 117,694 $ - Equity position in Arem Pacific Corporation 5,200,000 - 5,200,000 - Equity position in Wonder International Education & Investment Group Corporation 61,713 - 61,713 - $ 5,379,407 $ - $ 5,379,407 $ - No shares were acquired during the year ended December 31, 2016 and 2015. As of December 31, 2016 and 2015, the Company holds 8,000,000 shares in Arem Pacific Corporation, 2,942,350 shares in Alpha Lujo, Inc. and 2,057,131 shares in Wonder International Education and Investment Group Corporation. All available-for-sale investments held by the Company at December 31, 2016 and 2015 have been valued based on level 2 inputs due to the limited trading of all three of these companies.

12. INTANGIBLE ASSETS

12. INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
12. INTANGIBLE ASSETS	Intangible assets that are subject to amortization are reviewed for potential impairment whenever events or circumstances indicate that carrying amounts may not be recoverable. Assets not subject to amortization are tested for impairment at least annually. The Company evaluates the continuing value of the intangibles at each balance sheet date and records write-downs if the continuing value has become impaired. An impairment is determined to exist if the anticipated undiscounted future cash flow attributable to the asset is less than its carrying value. The asset is then reduced to the net present value of the anticipated future cash flow. As of December 31, 2016 and 2015, intangible assets, consisted of the following: Patents & knowhow & license December 31, 2016 December 31, 2015 Cost basis $ 17,560,496 $ 17,686,700 Less: accumulated amortization (3,539,617 ) (1,790,045 ) $ 14,020,879 $ 15,896,655 Software December 31, 2016 December 31, 2015 Cost basis $ 125,964 $ 90,951 Less: accumulated amortization (54,262 ) (38,506 ) $ 71,702 $ 52,445 Total intangibles, net $ 14,092,581 $ 15,949,100 All software is provided by a third party vendor, is not internally developed, and has an estimated useful life of 5 years. Patents, knowhow and license are amortized using an estimated useful life of five to ten years. Amortization expense for the years ended December 31, 2016, 2015 and 2014 was $1,784,208, $1,521,629 and $603,826, respectively. Estimated amortization expense for each of the ensuing years are as follows for the years ending December 31: Years ending December 31, Amount 2017 $ 1,779,961 2018 1,771,556 2019 1,770,911 2020 1,767,337 2021 and thereafter 7,002,816 $ 14,092,581

13. LEASES

13. LEASES	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
13. LEASES	The Company leases facilities under non-cancellable operating lease agreements. These facilities are located in the United States, Hong Kong and China. The Company recognizes rental expense on a straight-line basis over the life of the lease period. Rent expense under operating leases for the year ended December 31, 2016, 2015 and 2014 was approximately $1,043,968, $1,043,833 and $576,000, respectively. As of December 31, 2016, the Company has the following future minimum lease payments due under the foregoing lease agreements: Years ending December 31, Amount 2017 $ 965,885 2018 718,856 2019 459,255 2020 252,126 2021 and thereafter 546,634 $ 2,942,756

14. RELATED PARTY TRANSACTIONS

14. RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
14. RELATED PARTY TRANSACTIONS	Prior to August 26, 2014, Global Health Investment Holdings Ltd. (“Global Health”) was the Company’s largest shareholder. On August 26, 2014 Global Health disseminated its CBMG shareholdings, on a pro rata basis, to its shareholders. Global Health and its subsidiaries are no longer the Company’s affiliate since then. The Company received income of approximately $179,000 from the Subsidiaries of Global Health for the period ended August 26, 2014. As of December 31, 2016, accrued expenses included director fees of $3,082 due to independent director Mr. Gang Ji. There was no director fees due to directors as of December 31, 2015. The Company advanced petty cash to officers for business travel purpose. As of December 31, 2016 and 2015, other receivables due from officers for business travel purpose was $ nil and $19,214, respectively.

15. EQUITY

15. EQUITY	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
15. EQUITY	ASC Topic 505, “Equity”, paragraph 505-50-30-6 establishes that share-based payment transactions with nonemployees shall be measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. In March 2014, the Company entered into several Subscription Agreements with selected investors (the “Purchasers”) that met the criteria as “Accredited Investors” as defined in Rule 501(a) of Regulation D under the Securities Act of 1933 (the “Act”), and other investors who met the criteria as “non-U.S. persons” who agreed to comply with the applicable requirements of Regulation S under the Act. As a result of these transactions, the Company issued to the purchasers an aggregate of 194,029 shares of common stock, at a price per share of $6.70 for an aggregate purchase price of approximately $1,220,000. In June 2014, the Company entered into several Subscription Agreements with selected investors that met the criteria as “non-U.S. persons” who agreed to comply with the applicable requirements of Regulation S under the Act. As a result of these transactions, the Company issued to the purchasers an aggregate of 1,492,537 shares of common stock, at a price per share of $6.70 for an aggregate purchase price of approximately $10,000,000. Certain warrants were issued to the placement agent in this offering. These warrants were all exercised in the year ended December 31, 2014 and 17,765 shares of common stock were issued. The Company issued to the lead investor in the June 2014 financing, a three-year option to purchase up to 1,000,000 shares of common stock at $8.00 per share. Pursuant to the terms of the option, if at any time after 18 months following the date of issuance, the daily volume-weighted average price of the Company’s common stock exceeds $12.00 for a consecutive 20 trading days, the Company shall have the right to require the holder to exercise the option in full. In December 2014, the Company received approximately $8,000,000 upon the exercise in full of this option. In September 2014, the Company entered into several agreements with selected parties for the purchase of AG and patents. As a result of these transactions, the Company issued an aggregate of 828,522 shares of common stock, at a price per share of $19.238 for an aggregate price of approximately $15,939,000. In December 2014, the Company issued 39,260 shares as a finder fee in connection with the AG acquisition and recorded expense for the issuance of approximately $480,000. The share price on the date of this signed agreement was $12.22 and was used to calculate number of shares to issue. In March 2015, the Company closed a financing transaction pursuant to which it sold 515,786 shares of the Company’s common stock to selected investors at $38 per share, for total gross proceeds of approximately $19,600,000. The shares were sold pursuant to separate subscription agreements between the Company and each investor. The Company incurred a finder fee of $979,992, equal to 5% of the gross proceeds from the investors that were introduced by such finders, which was recorded as reduction in equity. On June 26, 2015, the Company completed its acquisition of the certain license rights to technology and know-how from Blackbird BioFinance, LLC (“Blackbird”) and entered into an assignment and assumption agreement to acquire all of Blackbird’s right, title and interest in and to the exclusive worldwide license to a CD40LGVAX vaccine from the University of South Florida. According to the asset purchase agreement, $1,050,500 in restricted common stock (based on the 20-day volume-weighted average price of the Company’s stock on the closing date) will be delivered to Blackbird at closing, thus 28,120 shares of Company common stock were issued as part of the consideration of this transaction. In addition, 18,747 shares of Company common stock (equal to $700,000 based on the 20-day volume-weighted average price of the Company’s stock on the closing date) would be delivered to Blackbird on the 6 month anniversary of the closing date upon satisfaction of certain conditions according to the agreements. Above shares were issued in November 2015. On February 4, 2016, the Company conducted an initial closing of a financing transaction (the “Financing”), pursuant to which it sold an aggregate of 263,158 shares of the Company’s common stock, par value $0.001 per share to Wuhan Dangdai Science & Technology Industries Group Inc. (the “Investor”) at $19.00 per share, for total gross proceeds of approximately $5,000,000. The Investor agreed to purchase, in one or more subsequent closings, up to an additional 2,006,842 shares on or before April 15, 2016, for a potential aggregate additional raise of $38,130,000. The Company had received the proceeds of $5,000,000 on February 4, 2016. On April 15, 2016, the Company completed the second and final closing of the Financing with the Investor, pursuant to which the Company sold to the Investor 2,006,842 shares of the Company’s Common Stock, for approximately $38,130,000 in gross proceeds. The aggregate gross proceeds from both closings in the Financing totaled approximately $43,130,000. In the aggregate, 2,270,000 shares of Common Stock were issued in the Financing. In connection with the above Financing, the Company agreed to pay a finder’s fee equal to 5% of the gross proceeds comprised of (i) $657,628 from the gross proceeds of the Financing and (ii) 78,888 restricted shares of Common Stock based on the per share purchase price in the Financing of $19 per share. On April 28, 2016, 78,888 shares of common stock were issued to the finder, which was recorded against the equity. During the year ended December 31, 2016, 2015 and 2014, the Company expensed $4,742,920, $7,182,118 and $1,636,311 associated with unvested options awards and $709,497, $410,320 and $106,392 associated with restricted common stock issuances, respectively. During the year ended December 31, 2016, 2015 and 2014, options for 196,185, 152,404 and 3,650 underlying shares were exercised, 196,185, 152,404 and 3,650 shares of the Company’s common stock were issued accordingly. During the year ended December 31, 2016, 2015 and 2014, 24,660, 6,253 and 27,275 shares of the Company's restricted common stock were issued to directors, employees and advisors respectively.

16. COMMITMENTS AND CONTINGENCI

16. COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
16. COMMITMENTS AND CONTINGENCIES	Operating lease commitments The future minimum lease payment due under the executed operating lease agreements as of December 31, 2016 was presented in note 13 to the consolidated financial statements. Capital commitments As of December 31, 2016, the capital commitments of the Company are summarized as follows: December 31, 2016 Contracts for acquisition of plant and equipment being or to be executed $ 1,451,278 Legal proceedings On April 21, 2015, a putative class action complaint was filed against the Company in the U.S. District Court for the Northern District of California captioned Bonnano v. Cellular Biomedicine Group, Inc., 3:15-cv-01795-WHO (N.D. Ca.). The complaint also named Wei Cao, the Company’s Chief Executive Officer, and Tony Liu, the Company’s Chief Financial Officer, as defendants. The complaint alleged that during the class period, June 18, 2014, through April 7, 2015, the Company made material misrepresentations in its periodic reports filed with the SEC. The complaint alleged a cause of action under Section 10(b) of the Securities Exchange Act of 1934 (the “1934 Act”) against all defendants and under Section 20(a) of the 1934 Act against the individual defendants. The complaint did not state the amount of the damages sought. On June 3, 2015, defendants were served. On June 29, 2015, the Court ordered, as stipulated by the parties, that defendants are not required to respond to the initial complaint in this action until such time as a lead plaintiff and lead counsel have been appointed and a consolidated complaint has been filed. The deadline for filing motions for the appointment of lead plaintiff and selection of lead counsel was June 22, 2015. On that date, one motion was filed by the Rosen Law Firm on behalf of putative plaintiff Michelle Jackson. On August 3, 2015, having received no opposition, the Court appointed Jackson as lead plaintiff and the Rosen Law Firm as class counsel. As stipulated among the parties, Jackson filed an amended class action complaint on September 17, 2015. The amended complaint names ten additional individuals and entities as defendants (“additional defendants”), none of whom are affiliated with the Company, and asserts an additional claim under Section 10(b) and Rule 10b-5(a) and (c) thereunder that the Company purportedly engaged in a scheme with the additional defendants to promote its securities. The amended complaint does not assert any claims against Mr. Liu. On January 19, 2016, the Company filed a motion to dismiss, which was granted on May 20, 2016, with leave to amend. On June 6, 2016, Plaintiffs filed a Second Amended Complaint, and on June 30, 2016, the Company filed a motion to dismiss. On September 2, 2016, the Court dismissed the Second Amended Complaint with prejudice and entered judgment against Plaintiffs. On September 16, 2016, Plaintiffs filed a Notice of Appeal to the U.S. Court of Appeals for the Ninth Circuit. On December 23, 2016, on Plaintiffs’ voluntary motion, the Ninth Circuit entered an order dismissing the appeal. As a result of the dismissal of the appeal, all proceedings in the case against the Company and Mr. Liu are concluded. We are currently not involved in any other litigation that we believe could have a materially adverse effect on our financial condition or results of operations.

17. STOCK BASED COMPENSATION

17. STOCK BASED COMPENSATION	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
17. STOCK BASED COMPENSATION	Our stock-based compensation arrangements include grants of stock options and restricted stock awards under the Stock Option Plan (the “2009 Plan”,“2011 Plan”, “2013 Plan” and the “2014 Plan”), and certain awards granted outside of these plans. The compensation cost that has been charged against income related to stock options (including shares issued for services and expense true-ups and reversals described in Note 15) for the year ended December 31, 2016, 2015 and 2014 was $4,742,920, $7,182,118 and $1,636,311, respectively. The compensation cost that has been charged against income related to restrict stock awards for the year ended December 31, 2016, 2015 and 2014 was $709,497, $410,320 and $106,392, respectively. These expenses are included in overhead, general and administrative expense, selling and marketing expense as well as research and development expenses in our Consolidated Statements of Operations. As of December 31, 2016, there was $6,264,211 all unrecognized compensation cost related to an aggregate of 613,663 of non-vested stock option awards and $1,049,174 related to an aggregate of 54,307 of non-vested restricted stock awards. These costs are expected to be recognized over a weighted-average period of 1.21 years for the stock options awards and 1.26 years for the restricted stock awards. During the year ended December 31, 2016, the Company issued an aggregate of 309,382 options under the 2013 Plan and 2014 Plan to officers, directors, employees and advisors. The grant date fair value of these options was $3,811,362 using Black-Scholes option valuation models with the following assumptions: grant date strike price from $12.13 to $40, volatility 88.44% to 90.03%, expected life 6.0 years, and risk-free rate of 1.07% to 2.17%. The Company is expensing these options on a straight-line basis over the requisite service period. During the year ended December 31, 2015, the Company issued an aggregate of 721,779 options under the 2013 Plan and 2014 Plan to officers, directors and employees. The grant date fair value of these options was $13,687,655 using Black-Scholes option valuation models with the following assumptions: exercise price equal to the grant date stock price of $12.91 to $38.4, volatility 88.41% to 99.27%, expected life 6.0 years, and risk-free rate of 1.39% to 1.92%. The Company is expensing these options on a straight-line basis over the requisite service period. During the year ended December 31, 2014, the Company issued an aggregate of 795,500 options under the 2011 Plan and 2013 Plan to officers, directors and employees. The grant date fair value of these options was $6,884,822 using Black-Scholes option valuation models with the following assumptions: exercise price equal to the grant date stock price of $5 to $28.49, volatility 112% to 130%, expected life 6.0 years, and risk-free rate of 1.77% to 2.08%. The Company is expensing these options on a straight-line basis over the requisite service period. The following table summarizes stock option activity as of December 31, 2016 and 2015 and for the year ended December 31, 2016: Number of Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding at December 31, 2014 1,425,173 $ 7.37 8.9 $ 11,065,770 Grants 721,779 20.89 Forfeitures (41,900 ) 15.58 Exercises (152,404 ) 4.48 Outstanding at December 31, 2015 1,952,648 $ 12.42 7.8 $ 17,701,962 Grants 309,382 18.65 Forfeitures (458,030 ) 19.45 Exercises (196,185 ) 4.51 Outstanding at December 31, 2016 1,607,815 $ 12.59 7.3 $ 6,355,072 Vested and exercisable at December 31, 2016 994,152 $ 5.53 6.7 $ 5,899,528 Exercise Number of Options Price Outstanding Exercisable $3.00 - $4.95 185,547 185,547 $5.00 - $9.19 566,704 509,262 $12.91+ 855,564 299,343 1,607,815 994,152 The aggregate intrinsic value for stock options outstanding is defined as the positive difference between the fair market value of our common stock and the exercise price of the stock options. Cash received from option exercises under all share-based payment arrangements for the year ended December 31, 2016, 2015 and 2014 was $885,680, $682,303and $ 19,387, respectively.

18. NET LOSS PER SHARE

18. NET LOSS PER SHARE	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
18. NET LOSS PER SHARE	Basic and diluted net loss per common share is computed on the basis of our weighted average number of common shares outstanding, as determined by using the calculations outlined below: For the Year Ended December 31, 2016 2015 2014 Loss from continuing operations $ (28,208,376 ) $ (19,447,721 ) $ (12,355,459 ) Loss on discontinued operations $ - $ - $ (3,119,152 ) Net loss $ (28,208,376 ) $ (19,447,721 ) $ (15,474,611 ) Weighted average shares of common stock 13,507,408 11,472,306 8,627,094 Dilutive effect of stock options - - - Restricted stock vested not issued - - - Common stock and common stock equivalents 13,507,408 11,472,306 8,627,094 Loss from continuing operations per basic share $ (2.09 ) $ (1.70 ) $ (1.43 ) Loss from continuing operations per diluted share $ (2.09 ) $ (1.70 ) $ (1.43 ) Loss on discontinued operations per basic share $ - $ - $ (0.36 ) Loss on discontinued operations per diluted share $ - $ - $ (0.36 ) Net loss per basic share $ (2.09 ) $ (1.70 ) $ (1.79 ) Net loss per diluted share $ (2.09 ) $ (1.70 ) $ (1.79 ) For the year ended December 31, 2016, 2015 and 2014, the effect of conversion and exercise of the Company’s outstanding options are excluded from the calculations of dilutive net income (loss) per share as their effects would have been anti-dilutive since the Company had generated loss for the year ended December 31, 2016, 2015 and 2014.

19. INCOME TAXES

19. INCOME TAXES	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
19. INCOME TAXES	Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period during which such rates are enacted. The Company considers all available evidence to determine whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become realizable. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carryback and carry-forward periods), and projected taxable income in assessing the realizability of deferred tax assets. In making such judgments, significant weight is given to evidence that can be objectively verified. Based on all available evidence, in particular our three-year historical cumulative losses, recent operating losses and U.S. pre-tax loss for the year ended December 31, 2016, we recorded a valuation allowance against our U.S. net deferred tax assets. In order to fully realize the U.S. deferred tax assets, we will need to generate sufficient taxable income in future periods before the expiration of the deferred tax assets governed by the tax code. The following represent components of the current tax expense for the year ended December 31, 2016, 2015 and 2014: For the Year Ended December 31, 2016 2015 2014 Current: US federal $ - $ (733,158 ) $ 41,798 US state 4,093 4,557 8,947 Foreign - - Total current tax (credit) expense $ 4,093 $ (728,601 ) $ 50,745 Deferred: Federal $ - $ - $ - State - - - Foreign - - - Total deferred tax expense $ - $ - $ - Total income tax (credit) expense $ 4,093 $ (728,601 ) $ 50,745 Tax effects of temporary differences that give rise to significant portions of the Company's deferred tax assets at December 31, 2016 and 2015 are presented below: December 31, December 31, 2016 2015 Deferred tax assets: Net operating loss carry forwards (offshore) $ 3,827,747 $ 1,994,281 Net operating loss carry forwards (US) 4,496,655 2,300,322 Accruals (offshore) 280,756 176,859 Accrued compensation (US) 25,168 36,177 Stock-based compensation (US) 3,018,905 1,430,243 Investments (US) 3,673,382 1,683,237 Credits (US) 97,504 72,004 Goodwill & intangibles 33,079 - Subtotal 15,453,196 7,693,123 Less: valuation allowance (15,452,737 ) (7,663,450 ) Total deferred tax assets 459 29,673 Deferred tax liabilities: Property and equipment (459 ) (1,377 ) Goodwill & intangibles - (28,296 ) Subtotal (459 ) (29,673 ) Net deferred tax asset $ - $ - In each period since inception, the Company has recorded a valuation allowance for the full amount of net deferred tax assets, as the realization of deferred tax assets is uncertain. As a result, the Company has not recorded any federal or state income tax benefit in the consolidated statements of operations and comprehensive income (loss). As of December 31, 2016, the Company had net operating loss carryforwards of $11.1 million for U.S federal purposes, $10.7 million for U.S. state purposes, and $9.48 million for Chinese income tax purposes, such losses are set to expire in 2034, 2034, and 2021 for U.S. federal, U.S. state and Chinese income tax purposes, respectively. All deferred income tax expense is offset by changes in the valuation allowance pertaining to the Company's existing net operating loss carryforwards due to the unpredictability of future profit streams prior to the expiration of the tax losses. The Company's effective tax rate differs from statutory rates of 35% for U.S. federal income tax purposes, 15% ~ 25% for Chinese income tax purpose and 16.5% for Hong Kong income tax purposes due to the effects of the valuation allowance and certain permanent differences as it pertains to book-tax differences in the value of client shares received for services. Pursuant to the Corporate Income Tax Law of the PRC, all of the Company’s PRC subsidiaries are liable to PRC Corporate Income Taxes (“CIT”) at a rate of 25% except for Cellular Biomedicine Group Ltd. (Shanghai) (“CBMG Shanghai”). According to Guoshuihan 2009 No. 203, if an entity is certified as an “advanced and new technology enterprise”, it is entitled to a preferential income tax rate of 15%. CBMG Shanghai obtained the certificate of “advanced and new technology enterprise” dated October 30, 2015 with an effective period of three years and the provision for PRC corporate income tax for CBMG Shanghai is calculated by applying the income tax rate of 15% in 2015 (2014: 25%; 2013: 25%). Income tax expense for year ended December 31, 2016, 2015 and 2014 differed from the amounts computed by applying the statutory federal income tax rate of 35% to pretax income (loss) as a result of the following: For the Year Ended For the Year Ended For the Year Ended December 31, 2016 December 31, 2015 December 31, 2014 Effective Tax Rate Reconciliation Income tax provision at statutory rate (35 )% (35 )% (35 )% State income taxes, net of federal benefit 0 % 0 % 0 % Goodwill impairement 0 % 0 % 7 % Foreign rate differential 9 % 12 % 14 % Other permanent difference 2 % 4 % 0 % Change in valuation allowance 24 % 15 % 14 % Total tax (credit) expense 0 % (4 )% 0 %

20. COLLABORATION AGREEMENT

20. COLLABORATION AGREEMENT	12 Months Ended
	Dec. 31, 2016
Collaboration Agreement
20. COLLABORATION AGREEMENT	Part of AG’s business includes a collaboration agreement to establish and operate a biologic treatment center in the Jilin province of China. Under the terms of the Collaboration Agreement dated December 10, 2012 and its supplementary agreement dated July 19, 2014 (the “Collaboration Agreement”), AG’s collaborative partner (the “Partner”) funded the development of the center and provides certain ongoing services. In exchange, the Partner receives preferred repayment of all funds that were invested in the development, 60% of the net profits until all of the invested funds are repaid, and 40% of the net profits thereafter, and the rights to the physical assets at the conclusion of the agreement. We accounted for this transaction in accordance with ASC 808 Collaborative Arrangements and have reflected all assets and liabilities of the treatment center. With our recent build-up of multiple cancer therapeutic technologies, we have prioritized our clinical efforts on developing CAR-T technologies, Vaccine, Tcm and TCR clonality technologies, and not actively pursuing the fragmented technical services opportunities. In June 2016, the Company and the Partner agreed to terminate the Collaboration Agreement and in July 2016 entered into a cooperation termination agreement (the “Termination Agreement”) with the Partner. In August 2016, in accordance with the Termination Agreement, the Company paid $0.3 million (RMB2 million equivalent) to settle all the liabilities with the Partner and retain the ownership of all the assets under the Collaboration Agreement.

21. SEGMENT INFORMATION

21. SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
21. SEGMENT INFORMATION	As stated in Note 5, as of June 23, 2014, the Company decided to discontinue the Consulting segment. As such, since the discontinuation, the Company only has one business unit. Therefore, the Company will not be presenting segment information until such time as another segment is developed.

22. SUBSEQUENT EVENTS

22. SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
22. SUBSEQUENT EVENTS	On January 1, 2017, the Company entered into a lease agreement with Shanghai Chuangtong Industrial Development Co., Ltd., pursuant to which the Company leased a 10,501.60 square meter building located in the “Pharma Valley” of Shanghai, the Peopleís Republic of China for research and development, manufacturing and office space purposes. The term of the lease is 10 years, starting from January 1, 2017 and ending on December 31, 2026. On January 9, 2017, the Company announced the commencement of patient enrollment in China for its CALL1 (“CART against Acute Lymphoblastic Leukemia”) Phase I clinical trial utilizing its optimized proprietary CCAR011 construct of CD19 chimeric antigen receptor Tcell (“CART”) therapy for the treatment of patients with relapsed or refractory (r/r) CD19+ Bcell Acute Lymphoblastic Leukemia. Effective February 3, 2017, Richard Wang resigned as the Company’s Chief Operating Officer. The governing Board of the California Institute for Regenerative Medicine (CIRM), California's stem cell agency, has awarded the Company $2.29 million to support preclinical studies of AlloJoinTM, CBMG’s “Off-the-Shelf” Allogeneic Human Adipose-derived Mesenchymal Stem Cells for the treatment of Knee Osteoarthritis in the United States in February 2017.

23. UNAUDITED QUARTERLY FINANCI

23. UNAUDITED QUARTERLY FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
23. UNAUDITED QUARTERLY FINANCIAL INFORMATION	Year ended December 31, 2016 Q4 Q3 Q2 Q1 Total Selected Income Statement Data: Net sales and revenue $ 57,828 $ 10,012 $ 71,599 $ 488,491 $ 627,930 Gross Profit/(Loss) 33,319 884 (251,988 ) (14,702 ) (232,487 ) Loss from continuing operations (6,139,761 ) (10,661,220 ) (7,197,282 ) (4,210,113 ) (28,208,376 ) Net loss (6,139,761 ) (10,661,220 ) (7,197,282 ) (4,210,113 ) (28,208,376 ) Net loss per share : Basic (0.43 ) (0.75 ) (0.52 ) (0.35 ) (2.09 ) Diluted (0.43 ) (0.75 ) (0.52 ) (0.35 ) (2.09 ) Year ended December 31, 2015 Q4 Q3 Q2 Q1 Total Selected Income Statement Data: Net sales and revenue $ 620,167 $ 624,907 $ 656,959 $ 603,390 $ 2,505,423 Gross Profit 75,543 181,491 258,730 109,328 625,092 Loss from continuing operations (4,991,877 ) (5,142,198 ) (5,026,475 ) (4,287,171 ) (19,447,721 ) Net loss (4,991,877 ) (5,142,198 ) (5,026,475 ) (4,287,171 ) (19,447,721 ) Net loss per share : Basic (0.43 ) (0.44 ) (0.44 ) (0.39 ) (1.70 ) Diluted (0.43 ) (0.44 ) (0.44 ) (0.39 ) (1.70 )

3. SUMMARY OF SIGNIFICANT ACC30

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2016
Summary Of Significant Accounting Policies Policies
Principles of Consolidation	The consolidated financial statements have been prepared in conformity with GAAP, and reflect the accounts and operations of the Company and its subsidiaries, beginning with the date of their respective acquisition. In accordance with the provisions of Financial Accounting Standards Board (“FASB”), Accounting Standards Codification (“ASC”) Topic 810, or ASC 810, Consolidation
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. These estimates and assumptions also affect the reported amounts of revenues, costs and expenses during the reporting period. Management evaluates these estimates and assumptions on a regular basis. Significant accounting estimates reflected in the Company’s consolidated financial statements include inventory valuation, account receivable valuation, useful lives of property, plant and equipment and acquired intangibles, the valuation allowance for deferred income tax assets, valuation of goodwill, valuation of long-lived assets and share-based compensation expense. Actual results could materially differ from those estimates.
Revenue Recognition	The Company utilizes the guidance set forth in the FASB’s ASC Topic 605, “Revenue Recognition”, regarding the recognition, presentation and disclosure of revenue in its financial statements. The Company recognizes revenue when pervasive evidence of an arrangement exists, the price is fixed and determinable, collection is reasonably assured and delivery of products or services has been rendered.
Cash and Cash Equivalents	The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. At December 31, 2016 and 2015, respectively, cash and cash equivalents include cash on hand and cash in the bank. At times, cash deposits may exceed government-insured limits.
Accounts Receivable	Accounts receivable represent amounts earned but not collected in connection with the Company’s sales as of December 31, 2016 and 2015. Account receivables are carried at their estimated collectible amounts. The Company follows the allowance method of recognizing uncollectible accounts receivable. The Company recognizes bad debt expense based on specifically identified customers and invoices that are anticipated to be uncollectable. At December 31, 2016, allowance of $10,163 was provided for debtors of certain customers as those debts are unrecoverable from customers. No allowance was provided as of December 31, 2015 as the Company was receiving continuous settlement and there was no indication of debts unrecoverable from customers.
Inventory	Inventories consist of raw materials, work-in-process, semi-finished goods and finished goods. Inventories are initially recognized at cost and subsequently at the lower of cost and net realizable value under first-in first-out method. Finished goods are comprised of direct materials, direct labor, depreciation and manufacturing overhead. Net realizable value is the estimated selling price, in the ordinary course of business, less estimated costs to complete and dispose. The Company regularly inspects the shelf life of prepared finished goods and, if necessary, writes down their carrying value based on their salability and expiration dates into cost of goods sold.
Property, Plant and Equipment	Property, plant and equipment are recorded at cost. Depreciation is provided for on the straight-line method over the estimated useful lives of the assets ranging from three to ten years and begins when the related assets are placed in service. Maintenance and repairs that neither materially add to the value of the property nor appreciably prolong its life are charged to expense as incurred. Betterments or renewals are capitalized when incurred. Plant, property and equipment are reviewed each year to determine whether any events or circumstances indicate that the carrying amount of the assets may not be recoverable. We assess the recoverability of the asset by comparing the projected undiscounted net cash flows associated with the related assets over the estimated remaining life against the respective carrying value. For the years ended December 31, 2016, 2015 and 2014, depreciation expense was $850,793, $573,015 and $586,679, respectively.
Goodwill and Other Intangibles	Goodwill represents the excess of the cost of assets acquired over the fair value of the net assets at the date of acquisition. Intangible assets represent the fair value of separately recognizable intangible assets acquired in connection with the Company’s business combinations. The Company evaluates its goodwill and other intangibles for impairment on an annual basis or whenever events or circumstances indicate that impairment may have occurred. The carrying amount of the goodwill at December 31, 2016 and 2015 represents the cost arising from the business combinations in previous years and no impairment on goodwill was recognized for the years ended December 31, 2016 and 2015. As part of the determination to discontinue the Consulting segment, the Company has written off goodwill of approximately $3,300,000 during the year ended December 31, 2014.
Valuation of long-lived asset	The Company reviews the carrying value of long-lived assets to be held and used, including other intangible assets subject to amortization, when events and circumstances warrants such a review. The carrying value of a long-lived asset is considered impaired when the anticipated undiscounted cash flow from such asset is separately identifiable and is less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair market value of the long-lived asset and intangible assets. Fair market value is determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved. Losses on long-lived assets and intangible assets to be disposed are determined in a similar manner, except that fair market values are reduced for the cost to dispose.
Income Taxes	Income taxes are accounted for using the asset and liability method. Under this method, deferred income tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which these temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance would be provided for those deferred tax assets if it is more likely than not that the related benefit will not be realized. A full valuation allowance has been established against all net deferred tax assets as of December 31, 2016 and 2015 based on estimates of recoverability. While the Company has optimistic plans for its business strategy, we determined that such a valuation allowance was necessary given the current and expected near term losses and the uncertainty with respect to the Company’s ability to generate sufficient profits from its business model.
Share-Based Compensation	The Company periodically uses stock-based awards, consisting of shares of common stock and stock options, to compensate certain officers and consultants. Shares are expensed on a straight line basis over the requisite service period based on the grant date fair value, net of estimated forfeitures, if any. We currently use the Black-Scholes option-pricing model to estimate the fair value of our stock-based payment awards. This model requires the input of highly subjective assumptions, including the fair value of the underlying common stock, the expected volatility of the price of our common stock, risk-free interest rates, the expected term of the option and the expected dividend yield of our common stock. These estimates involve inherent uncertainties and the application of management’s judgment. If factors change and different assumptions are used, our stock-based compensation expense could be materially different in the future. These assumptions are estimated as follows: ● Fair Value of Our Common Stock — Our common stock is valued by reference to the publicly-traded price of our common stock. ● Expected Volatility — Prior to the Eastbridge merger, we did not have a history of market prices for our common stock and since the merger, we do not have what we consider a sufficiently active and readily traded market for our common stock to use historical market prices for our common stock to estimate volatility. Accordingly, we estimate the expected stock price volatility for our common stock by taking the median historical stock price volatility for industry peers based on daily price observations over a period equivalent to the expected term of the stock option grants. Industry peers consist of other public companies in the stem cell industry similar in size, stage of life cycle and financial leverage. We intend to continue to consistently apply this process using the same or similar public companies until a sufficient amount of historical information regarding the volatility of our own common stock share price becomes available. ● Risk-Free Interest Rate — The risk-free interest rate assumption is based on observed interest rates appropriate for the expected terms of our awards. The risk-free interest rate assumption is based on the yields of U.S. Treasury securities with maturities similar to the expected term of the options for each option group. ● Expected Term — The expected term represents the period that our stock-based awards are expected to be outstanding. The expected terms of the awards are based on a simplified method which defines the life as the average of the contractual term of the options and the weighted-average vesting period for all open tranches. ● Expected Dividend Yield — We have never declared or paid any cash dividends and do not presently plan to pay cash dividends in the foreseeable future. Consequently, we used an expected dividend yield of zero. In addition to the assumptions used in the Black-Scholes option-pricing model, the amount of stock option expense we recognize in our consolidated statements of operations includes an estimate of stock option forfeitures. We estimate our forfeiture rate based on an analysis of our actual forfeitures and will continue to evaluate the appropriateness of the forfeiture rate based on actual forfeiture experience, analysis of employee turnover and other factors. Changes in the estimated forfeiture rate can have a significant impact on our stock-based compensation expense as the cumulative effect of adjusting the rate is recognized in the period the forfeiture estimate is changed. If a revised forfeiture rate is higher than the previously estimated forfeiture rate, an adjustment is made that will result in a decrease to the stock-based compensation expense recognized in the consolidated financial statements. If a revised forfeiture rate is lower than the previously estimated forfeiture rate, an adjustment is made that will result in an increase to the stock-based compensation expense recognized in our consolidated financial statements.
Fair Value of Financial Instruments	Under the FASB’s authoritative guidance on fair value measurements, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining the fair value, the Company uses various methods including market, income and cost approaches. Based on these approaches, the Company often utilizes certain assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated or generally unobservable inputs. The Company uses valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. Based on observability of the inputs used in the valuation techniques, the Company is required to provide the following information according to the fair value hierarchy. The fair value hierarchy ranks the quality and reliability of the information used to determine fair values. Financial assets and liabilities carried at fair value are classified and disclosed in one of the following three categories: Level 1: Valuations for assets and liabilities traded in active exchange markets. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2: Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained from third party pricing services for identical or similar assets or liabilities. Level 3: Valuations for assets and liabilities that are derived from other valuation methodologies, including option pricing models, discounted cash flow models and similar techniques, and not based on market exchange, dealer or broker traded transactions. Level 3 valuations incorporate certain unobservable assumptions and projections in determining the fair value assigned to such assets. All transfers between fair value hierarchy levels are recognized by the Company at the end of each reporting period. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. The inputs or methodology used for valuing financial instruments are not necessarily an indication of the risks associated with investment in those instruments. The carrying amounts of other financial instruments, including cash, accounts receivable, accounts payable and accrued liabilities, income tax payable and related party payable approximate fair value due to their short maturities.
Investments	The fair value of “investments” is dependent on the type of investment, whether it is marketable or non-marketable. Marketable securities held by the Company are held for an indefinite period of time and thus are classified as available-for-sale securities. The fair value is based on quoted market prices for the investment as of the balance sheet date. Realized investment gains and losses are included in the statement of operations, as are provisions for other than temporary declines in the market value of available for-sale securities. Unrealized gains and unrealized losses deemed to be temporary are excluded from earnings (losses), net of applicable taxes, as a component of other comprehensive income (loss). Factors considered in judging whether an impairment is other than temporary include the financial condition, business prospects and creditworthiness of the issuer, the length of time that fair value has been less than cost, the relative amount of decline, and the Company’s ability and intent to hold the investment until the fair value recovers.
Basic and Diluted Net Loss Per Share	Diluted net loss per share reflects potential dilution from the exercise or conversion of securities into common stock. The dilutive effect of the Company's share-based awards is computed using the treasury stock method, which assumes that all share-based awards are exercised and the hypothetical proceeds from exercise are used to purchase common stock at the average market price during the period. Share-based awards whose effects are anti-dilutive are excluded from computing diluted net loss per share.
Foreign Currency Translation	The Company's financial statements are presented in U.S. dollars ($), which is the Company’s reporting currency, while some of the Company’s subsidiaries’ functional currency is Chinese Renminbi (RMB). Transactions in foreign currencies are initially recorded at the functional currency rate ruling at the date of transaction. Any differences between the initially recorded amount and the settlement amount are recorded as a gain or loss on foreign currency transaction in the consolidated statements of operations. Monetary assets and liabilities denominated in foreign currency are translated at the functional currency rate of exchange ruling at the balance sheet date. Any differences are recorded as an unrealized gain or loss on foreign currency translation in the statements of operations and comprehensive loss. In accordance with ASC 830, Foreign Currency Matters, the Company translates the assets and liabilities into USD from RMB using the rate of exchange prevailing at the applicable balance sheet date and the statements of income and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation are recorded in shareholders' equity as part of accumulated other comprehensive income. The PRC government imposes significant exchange restrictions on fund transfers out of the PRC that are not related to business operations.
Comprehensive Loss	We apply ASC No. 220, Comprehensive Income
Reclassification	Certain prior period amounts have been reclassified to conform to current year presentations. There was no change to previously reported stockholders’ deficit or net loss.
Segment Information	FASB ASC Topic 280, “Segment Reporting” establishes standards for reporting information about reportable segments. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision-making group in deciding how to allocate resources and in assessing performance. Following the discontinuance of our consulting business, we operate in a single reportable segment.
Recent Accounting Pronouncements	Recent accounting pronouncements that the Company has adopted or may be required to adopt in the future are summarized below. In January 2017, the FASB issued Accounting Standards Update (“ASU”) No. 2017-04, “Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” (“ASU 2017-04”), which removes Step 2 from the goodwill impairment test. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. Public business entity that is a U.S. Securities and Exchange Commission filer should adopt the amendments in this ASU for its annual or any interim goodwill impairment test in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We are currently evaluating the impact of the adoption of ASU 2017-04 on our consolidated financial statements. In November 2016, the FASB issued ASU No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash” (“ASU 2016-18”), which requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments in this ASU do not provide a definition of restricted cash or restricted cash equivalents. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. We are currently evaluating the impact of the adoption of ASU 2016-18 on our consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”), which addresses the following eight specific cash flow issues: debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies; distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. We are currently evaluating the impact of the adoption of ASU 2016-15 on our consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). Financial Instruments—Credit Losses (Topic 326) amends guideline on reporting credit losses for assets held at amortized cost basis and available-for-sale debt securities. For assets held at amortized cost basis, Topic 326 eliminates the probable initial recognition threshold in current GAAP and, instead, requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. For available-for-sale debt securities, credit losses should be measured in a manner similar to current GAAP, however Topic 326 will require that credit losses be presented as an allowance rather than as a write-down. ASU 2016-13 affects entities holding financial assets and net investment in leases that are not accounted for at fair value through net income. The amendments affect loans, debt securities, trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. The amendments in this ASU will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are currently evaluating the impact of the adoption of ASU 2016-13 on our consolidated financial statements. In April 2016, the FASB issued ASU No. 2016-09, “Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”), which simplifies several aspects of the accounting for employee share-based payment transactions. The areas for simplification in ASU 2016-09 include the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The amendments in this ASU will be effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Early adoption is permitted. We are currently evaluating the impact of the adoption of ASU 2016-09 on our consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). The amendments in this update create Topic 842, Leases, and supersede the leases requirements in Topic 840, Leases. Topic 842 specifies the accounting for leases. The objective of Topic 842 is to establish the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. The main difference between Topic 842 and Topic 840 is the recognition of lease assets and lease liabilities for those leases classified as operating leases under Topic 840. Topic 842 retains a distinction between finance leases and operating leases. The classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the previous leases guidance. The result of retaining a distinction between finance leases and operating leases is that under the lessee accounting model in Topic 842, the effect of leases in the statement of comprehensive income and the statement of cash flows is largely unchanged from previous GAAP. The amendments in ASU 2016-02 are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years for public business entities. Early application of the amendments in ASU 2016-02 is permitted. We are currently in the process of evaluating the impact of the adoption of ASU 2016-02 on our consolidated financial statements. In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASU 2016-01”). The amendments in this update require all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). The amendments in this update also require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition the amendments in this update eliminate the requirement for to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public entities. For public business entities, the amendments in ASU 2016-01 are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Except for the early application guidance discussed in ASU 2016-01, early adoption of the amendments in this update is not permitted. We do not expect the adoption of ASU 2016-01 to have a material impact on our consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes” (“ASU 2015-17”). Topic 740, Income Taxes, requires an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. Deferred tax liabilities and assets that are not related to an asset or liability for financial reporting are classified according to the expected reversal date of the temporary difference. To simplify the presentation of deferred income taxes, the amendments in ASU 2015-17 require that deferred income tax liabilities and assets be classified as noncurrent in a classified statement of financial position. For public business entities, the amendments in this update are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. We do not expect the adoption of ASU 2015-17 to have a material impact on our consolidated financial statements. In July 2015, the FASB issued ASU No. 2015-11, “Inventory (Topic 330): Simplifying the Measurement of Inventory” (“ASU 2015-11”). The amendments in this update require an entity to measure inventory within the scope of ASU 2015-11 (the amendments in ASU 2015-11 do not apply to inventory that is measured using last-in, first-out or the retail inventory method. The amendments apply to all other inventory, which includes inventory that is measured using first-in, first-out or average cost) at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is uncharged for inventory measured using last-in, first-out or the retail inventory method. The amendments in ASU 2015-11 more closely align the measurement of inventory in U.S. GAAP with the measurement of inventory in International Financial Reporting Standards (“IFRS”). ASU 2015-11 is effective for public business entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments in ASU 2015-11 should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. We do not expect the adoption of ASU No. 2015-11 to have a material impact on our consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). ASU 2014-09 supersedes the revenue recognition requirements in “Revenue Recognition (Topic 605)”, and requires entities to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. The FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date” (“ASU 2015-14”) in August 2015. The amendments in ASU 2015-14 defer the effective date of ASU 2014-09. Public business entities, certain not-for-profit entities, and certain employee benefit plans should apply the guidance in ASU 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier adoption is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. Further to ASU 2014-09 and ASU 2015-14, the FASB issued ASU No. 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)” (“ASU 2016-08”) in March 2016, ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing” (“ASU 2016-10”) in April 2016, ASU No. 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients” (“ASU 2016-12”), and ASU No. 2016-20, “Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers” (“ASU 2016-20”), respectively. The amendments in ASU 2016-08 clarify the implementation guidance on principal versus agent considerations, including indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to the customers. ASU 2016-10 clarifies guideline related to identifying performance obligations and licensing implementation guidance contained in the new revenue recognition standard. The updates in ASU 2016-10 include targeted improvements based on input the FASB received from the Transition Resource Group for Revenue Recognition and other stakeholders. It seeks to proactively address areas in which diversity in practice potentially could arise, as well as to reduce the cost and complexity of applying certain aspects of the guidance both at implementation and on an ongoing basis. ASU 2016-12 addresses narrow-scope improvements to the guidance on collectability, non-cash consideration, and completed contracts at transition. Additionally, the amendments in this ASU provide a practical expedient for contract modifications at transition and an accounting policy election related to the presentation of sales taxes and other similar taxes collected from customers. The amendments in ASU 2016-20 represents changes to make minor corrections or minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. The effective date and transition requirements for ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20 are the same as ASU 2014-09. We are currently in the process of evaluating the impact of the adoption of ASU 2014-09, ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20 on our consolidated financial statements.

4. BUSINESS COMBINATION (Tables

4. BUSINESS COMBINATION (Tables)	12 Months Ended
	Dec. 31, 2016
Business Combination Tables
Final allocation of the purchase price	Cash $ 145,611 Accounts receivable 151,093 Other receivable 31,798 Inventory 174,820 Prepaid expenses 14,331 Property, plant and equipment, net 561,113 Intangible assets 9,942,000 Goodwill 7,678,786 Long-term prepaid expenses 83,054 Total assets acquired 18,782,606 Accounts payables (47,509 ) Accrued expenses (42,013 ) Other current liabilities (523,077 ) Other non current liabilities (422,592 ) Total liabilities assumed (1,035,191 ) Net assets acquired $ 17,747,415
Unaudited pro forma consolidated results of operations	Year Ended December 31, 2014 CBMG Agreen Pro forma As stated Pro forma Adjustment Consolidated Net sales and revenue $ 564,377 $ 1,198,414 $ 1,762,791 Net loss (15,474,611 ) (48,109 ) (15,522,720 ) Weighted average common shares outstanding: Basic 8,627,094 555,335 9,182,429 Diluted 8,627,094 555,335 9,182,429 Earnings (loss) per share net loss: Basic $ (1.79 ) $ (0.09 ) $ (1.69 ) Diluted $ (1.79 ) $ (0.09 ) $ (1.69 )

5. DISCONTINUED OPERATIONS (Tab

5. DISCONTINUED OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Current presentation	Year Ended December 31, 2014 Amounts reclassified: Consulting revenue $ 1,612,746 Consulting operating expenses (1,352,189 ) Selling and marketing (27,673 ) Impairment expense (3,299,566 ) Other income (expense) (1,725 ) Income tax provision (50,745 ) Total amount reclassified as discontinued operations $ (3,119,152 )

6. VARIABLE INTEREST ENTITY (Ta

6. VARIABLE INTEREST ENTITY (Tables)	12 Months Ended
	Dec. 31, 2016
Variable Interest Entity, Nonconsolidated, Comparison of Carrying Amount of Assets and Liabilities to Maximum Loss Exposure [Abstract]
Aggregate carrying value of assets and liability	December 31, December 31, 2016 2015 Assets Cash $ 4,021,992 $ 1,821,883 Accounts receivable - 337,345 Other receivables 370,702 136,621 Inventory - 180,973 Prepaid expenses 777,445 250,123 Total current assets 5,170,139 2,726,945 Property, plant and equipment, net 2,398,576 1,145,924 Intangibles 1,613,582 1,892,551 Long-term prepaid expenses and other assets 443,874 349,653 Total assets $ 9,626,171 $ 6,115,073 Liabilities Accounts payable $ 161,825 $ 38,004 Other payables 407,769 914,817 Payroll accrual 792,706 464,510 Total current liabilities $ 1,362,300 $ 1,417,331 Other non-current liabilities 10,091 60,829 Total liabilities $ 1,372,391 $ 1,478,160

8. INVENTORY (Tables)

8. INVENTORY (Tables)	12 Months Ended
	Dec. 31, 2016
Inventory Tables
Inventory	December 31, 2016 December 31, 2015 Raw Materials - $ 357,896 Work in progress - - Semi-finished goods - 15,346 Finished goods - 17,644 - $ 390,886
Provision for inventories	2016 2015 2014 Balance at the beginning of year $ 123,848 $ - $ - Addition 110,145 123,848 - Reversal (225,536 ) - - Exchange difference (8,457 ) - - Balance at the end of the year $ - $ 123,848 $ -

9. PROPERTY, PLANT AND EQUIPM35

9. PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2016
Property Plant And Equipment Tables
Property, plant and equipment, carried at cost	December 31, 2016 December 31, 2015 Office equipment $ 80,485 $ 24,526 Manufacturing equipment 3,347,458 2,680,805 Computer equipment 162,769 150,698 Leasehold improvements 1,912,573 1,417,997 Construction in progress 1,172,433 680,740 6,675,718 4,954,766 Less: accumulated depreciation (2,557,979 ) (2,185,866 ) $ 4,117,739 $ 2,768,900

10. INVESTMENTS (Tables)

10. INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2016
Schedule of Investments [Abstract]
Assets measured at fair value on a recurring basis	December 31, 2016 Adjusted Cost Gross Unrealized Gains Gross Unrealized Losses more than 12 months Gross Unrealized Losses less than 12 months Market or Fair Value Equity position in Alpha Lujo, Inc. $ 251,388 $ - $ - $ (221,964 ) $ 29,424 Equity position in Arem Pacific Corporation 480,000 - - - 480,000 Total $ 731,388 $ - $ - $ (221,964 ) $ 509,424 December 31, 2015 Adjusted Cost Gross Unrealized Gains Gross Unrealized Losses more than 12 months Gross Unrealized Losses less than 12 months Market or Fair Value Equity position in Alpha Lujo, Inc. $ 251,388 $ - - $ (133,694 ) $ 117,694 Equity position in Arem Pacific Corporation $ 5,030,000 $ 170,000 - - $ 5,200,000 Equity position in Wonder International Education & Investment Group Corporation $ 61,713 $ - - - $ 61,713 Total $ 5,343,101 $ 170,000 $ - $ (133,694 ) $ 5,379,407

11. FAIR VALUE ACCOUNTING (Tabl

11. FAIR VALUE ACCOUNTING (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Accounting Tables
Assets measured at fair value on a recurring basis	As of December 31, 2016 Fair Value Measurements at Reporting Date Using: Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Assets: Equity position in Alpha Lujo, Inc. $ 29,424 $ - $ 29,424 $ - Equity position in Arem Pacific Corporation 480,000 - 480,000 - $ 509,424 $ - $ 509,424 $ - As of December 31, 2015 Fair Vaue Measurements at Reporting Date Using: Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Assets: Equity position in Alpha Lujo, Inc. $ 117,694 $ - $ 117,694 $ - Equity position in Arem Pacific Corporation 5,200,000 - 5,200,000 - Equity position in Wonder International Education & Investment Group Corporation 61,713 - 61,713 - $ 5,379,407 $ - $ 5,379,407 $ -

12. INTANGIBLE ASSETS (Tables)

12. INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2016
Intangible Assets Tables
Intangible assets at cost	Patents & knowhow & license December 31, 2016 December 31, 2015 Cost basis $ 17,560,496 $ 17,686,700 Less: accumulated amortization (3,539,617 ) (1,790,045 ) $ 14,020,879 $ 15,896,655 Software December 31, 2016 December 31, 2015 Cost basis $ 125,964 $ 90,951 Less: accumulated amortization (54,262 ) (38,506 ) $ 71,702 $ 52,445 Total intangibles, net $ 14,092,581 $ 15,949,100
Estimated amortization expenses	Years ending December 31, Amount 2017 $ 1,779,961 2018 1,771,556 2019 1,770,911 2020 1,767,337 2021 and thereafter 7,002,816 $ 14,092,581

13. LEASES (Tables)

13. LEASES (Tables)	12 Months Ended
	Dec. 31, 2016
Leases Tables
Future minimum lease payments due	Years ending December 31, Amount 2017 $ 965,885 2018 718,856 2019 459,255 2020 252,126 2021 and thereafter 546,634 $ 2,942,756

16. COMMITMENTS AND CONTINGEN40

16. COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Capital commitments	December 31, 2016 Contracts for acquisition of plant and equipment being or to be executed $ 1,451,278

17. STOCK BASED COMPENSATION (T

17. STOCK BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock option activity	Number of Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding at December 31, 2014 1,425,173 $ 7.37 8.9 $ 11,065,770 Grants 721,779 20.89 Forfeitures (41,900 ) 15.58 Exercises (152,404 ) 4.48 Outstanding at December 31, 2015 1,952,648 $ 12.42 7.8 $ 17,701,962 Grants 309,382 18.65 Forfeitures (458,030 ) 19.45 Exercises (196,185 ) 4.51 Outstanding at December 31, 2016 1,607,815 $ 12.59 7.3 $ 6,355,072 Vested and exercisable at December 31, 2016 994,152 $ 5.53 6.7 $ 5,899,528
Outstanding stock options	Exercise Number of Options Price Outstanding Exercisable $3.00 - $4.95 185,547 185,547 $5.00 - $9.19 566,704 509,262 $12.91+ 855,564 299,343 1,607,815 994,152

18. NET INCOME (LOSS) PER SHARE

18. NET INCOME (LOSS) PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2016
Net Income Loss Per Share Tables
Schedule of basic and diluted earning per share	For the Year Ended December 31, 2016 2015 2014 Loss from continuing operations $ (28,208,376 ) $ (19,447,721 ) $ (12,355,459 ) Loss on discontinued operations $ - $ - $ (3,119,152 ) Net loss $ (28,208,376 ) $ (19,447,721 ) $ (15,474,611 ) Weighted average shares of common stock 13,507,408 11,472,306 8,627,094 Dilutive effect of stock options - - - Restricted stock vested not issued - - - Common stock and common stock equivalents 13,507,408 11,472,306 8,627,094 Loss from continuing operations per basic share $ (2.09 ) $ (1.70 ) $ (1.43 ) Loss from continuing operations per diluted share $ (2.09 ) $ (1.70 ) $ (1.43 ) Loss on discontinued operations per basic share $ - $ - $ (0.36 ) Loss on discontinued operations per diluted share $ - $ - $ (0.36 ) Net loss per basic share $ (2.09 ) $ (1.70 ) $ (1.79 ) Net loss per diluted share $ (2.09 ) $ (1.70 ) $ (1.79 )

19. INCOME TAXES (Tables)

19. INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2016
Income Taxes Tables
Schedule of components of the current tax expense	For the Year Ended December 31, 2016 2015 2014 Current: US federal $ - $ (733,158 ) $ 41,798 US state 4,093 4,557 8,947 Foreign - - Total current tax (credit) expense $ 4,093 $ (728,601 ) $ 50,745 Deferred: Federal $ - $ - $ - State - - - Foreign - - - Total deferred tax expense $ - $ - $ - Total income tax (credit) expense $ 4,093 $ (728,601 ) $ 50,745
Schedule of components of net deferred tax assets	December 31, December 31, 2016 2015 Deferred tax assets: Net operating loss carry forwards (offshore) $ 3,827,747 $ 1,994,281 Net operating loss carry forwards (US) 4,496,655 2,300,322 Accruals (offshore) 280,756 176,859 Accrued compensation (US) 25,168 36,177 Stock-based compensation (US) 3,018,905 1,430,243 Investments (US) 3,673,382 1,683,237 Credits (US) 97,504 72,004 Goodwill & intangibles 33,079 - Subtotal 15,453,196 7,693,123 Less: valuation allowance (15,452,737 ) (7,663,450 ) Total deferred tax assets 459 29,673 Deferred tax liabilities: Property and equipment (459 ) (1,377 ) Goodwill & intangibles - (28,296 ) Subtotal (459 ) (29,673 ) Net deferred tax asset $ - $ -
Schedule of reconciliation of Income tax expense (benefit)	For the Year Ended For the Year Ended For the Year Ended December 31, 2016 December 31, 2015 December 31, 2014 Effective Tax Rate Reconciliation Income tax provision at statutory rate (35 )% (35 )% (35 )% State income taxes, net of federal benefit 0 % 0 % 0 % Goodwill impairement 0 % 0 % 7 % Foreign rate differential 9 % 12 % 14 % Other permanent difference 2 % 4 % 0 % Change in valuation allowance 24 % 15 % 14 % Total tax (credit) expense 0 % (4 )% 0 %

23. UNAUDITED QUARTERLY FINAN44

23. UNAUDITED QUARTERLY FINANCIAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Year ended December 31, 2016 Q4 Q3 Q2 Q1 Total Selected Income Statement Data: Net sales and revenue $ 57,828 $ 10,012 $ 71,599 $ 488,491 $ 627,930 Gross Profit/(Loss) 33,319 884 (251,988 ) (14,702 ) (232,487 ) Loss from continuing operations (6,139,761 ) (10,661,220 ) (7,197,282 ) (4,210,113 ) (28,208,376 ) Net loss (6,139,761 ) (10,661,220 ) (7,197,282 ) (4,210,113 ) (28,208,376 ) Net loss per share : Basic (0.43 ) (0.75 ) (0.52 ) (0.35 ) (2.09 ) Diluted (0.43 ) (0.75 ) (0.52 ) (0.35 ) (2.09 ) Year ended December 31, 2015 Q4 Q3 Q2 Q1 Total Selected Income Statement Data: Net sales and revenue $ 620,167 $ 624,907 $ 656,959 $ 603,390 $ 2,505,423 Gross Profit 75,543 181,491 258,730 109,328 625,092 Loss from continuing operations (4,991,877 ) (5,142,198 ) (5,026,475 ) (4,287,171 ) (19,447,721 ) Net loss (4,991,877 ) (5,142,198 ) (5,026,475 ) (4,287,171 ) (19,447,721 ) Net loss per share : Basic (0.43 ) (0.44 ) (0.44 ) (0.39 ) (1.70 ) Diluted (0.43 ) (0.44 ) (0.44 ) (0.39 ) (1.70 )

3. SUMMARY OF SIGNIFICANT ACC45

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Summary Of Significant Accounting Policies Details Narrative
Allowance for doubtful amounts	$ 10,163	$ 0
Depreciation expense	850,793	573,015	$ 586,679
Comprehensive loss	29,208,953	21,132,211	13,848,312
Impairment expense	$ 0	$ 0	$ 3,299,566

4. BUSINESS COMBINATION (Detail

4. BUSINESS COMBINATION (Details)	Dec. 31, 2016USD ($)
Business Combination Details
Cash	$ 145,611
Accounts receivable	151,093
Other receivable	31,798
Inventory	174,820
Prepaid expenses	14,331
Property, plant and equipment, net	561,113
Intangible assets	9,942,000
Goodwill	7,678,786
Long-term prepaid expenses	83,054
Total assets acquired	18,782,606
Accounts payable	(47,509)
Accrued expenses	(42,013)
Other current liabilities	(523,077)
Other non current liabilities	(422,592)
Total liabilities assumed	(1,035,191)
Net assets acquired	$ 17,747,415

4. BUSINESS COMBINATION (Deta47

4. BUSINESS COMBINATION (Details 1) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net loss	$ (6,139,761)	$ (10,661,220)	$ (7,197,282)	$ (4,210,113)	$ (4,991,877)	$ (5,142,198)	$ (5,026,475)	$ (4,287,171)	$ (28,208,376)	$ (19,447,721)	$ (15,474,611)
Weighted average common shares outstanding:
Basic									13,507,408	11,472,306	8,627,094
Diluted									13,507,408	11,472,306	8,627,094
Earnings (loss) per share net loss:
Basic	$ (0.43)	$ (0.75)	$ (0.52)	$ (0.35)	$ (0.43)	$ (0.44)	$ (0.44)	$ (0.39)	$ (2.09)	$ (1.70)	$ (1.79)
Diluted	$ (0.43)	$ (0.75)	$ (0.52)	$ (0.35)	$ (0.43)	$ (0.44)	$ (0.44)	$ (0.39)	$ (2.09)	$ (1.70)	$ (1.79)
CBMG As stated
Net sales and revenue											$ 564,377
Net loss											$ (15,474,611)
Weighted average common shares outstanding:
Basic											8,627,094
Diluted											8,627,094
Earnings (loss) per share net loss:
Basic											$ (1.79)
Diluted											$ (1.79)
Agreen Pro forma Adjustment
Net sales and revenue											$ 1,198,414
Net loss											$ (48,109)
Weighted average common shares outstanding:
Basic											555,335
Diluted											555,335
Earnings (loss) per share net loss:
Basic											$ (0.09)
Diluted											$ (0.09)
Pro-forma Consolidated
Net sales and revenue											$ 1,762,791
Net loss											$ (15,522,720)
Weighted average common shares outstanding:
Basic											9,182,429
Diluted											9,182,429
Earnings (loss) per share net loss:
Basic											$ (1.69)
Diluted											$ (1.69)

5. DISCONTINUED OPERATIONS (Det

5. DISCONTINUED OPERATIONS (Details)	12 Months Ended
	Dec. 31, 2014USD ($)
Amounts reclassified:
Consulting revenue	$ 1,612,746
Consulting operating expenses	(1,352,189)
Selling and marketing	(27,673)
Impairment expense	(3,299,566)
Other income (expense)	(1,725)
Income tax provision	(50,745)
Total amount reclassified as discontinued operations	$ (3,119,152)

6. VARIABLE INTEREST ENTITY (De

6. VARIABLE INTEREST ENTITY (Details) - USD ($)		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Assets
Cash		$ 39,252,432	$ 14,884,597	$ 14,770,584	$ 7,175,215
Other receivable		412,727	271,344
Inventory		0	390,886
Total current assets		40,692,084	16,694,291
Property, plant and equipment, net		4,117,739	2,768,900
Intangibles		14,092,581	15,949,100
Total assets	[1]	68,628,467	49,460,422
Liabilities:
Accounts payable		216,154	260,886
Other payables		1,168,787	845,087
Tax payable		28,875	0
Total current liabilities		2,364,036	3,019,257
Other non-current liabilities		370,477	76,229
Total liabilities	[1]	2,734,513	3,095,486
CBMG Shanghai
Assets
Cash		4,021,992	1,821,883
Accounts receivable		0	337,345
Other receivable		370,702	136,621
Inventory		0	180,973
Prepaid expenses		777,445	250,123
Total current assets		5,170,139	2,726,945
Property, plant and equipment, net		2,398,576	1,145,924
Intangibles		1,613,582	1,892,551
Long-term prepaid expenses and other assets		443,874	349,653
Total assets		9,626,171	6,115,073
Liabilities:
Accounts payable		161,825	38,004
Other payables		407,769	914,817
Payroll accrual		792,706	464,510
Total current liabilities		1,362,300	1,417,331
Other non-current liabilities		10,091	60,829
Total liabilities		$ 1,372,391	$ 1,478,160
[1]	The Company's consolidated assets as of December 31, 2016 and 2015 included $9,626,171 and $6,115,073, respectively, of assets of variable interest entities, or VIEs, that can only be used to settle obligations of the VIEs. Each of the following amounts represent the balances as of December 31, 2016 and 2015, respectively. These assets include cash and cash equivalents of $4,021,992 and $1,821,883; accounts receivable of $ nil and $337,345; other receivables of $370,702 and $136,621; inventory of $ nil and $180,973; prepaid expenses of $777,445 and $250,123; property, plant and equipment, net, of $2,398,576 and $1,145,924; intangibles of $1,613,582 and $1,892,551; and long-term prepaid expenses and other assets of $443,874 and $349,653. The Company's consolidated liabilities as of December 31, 2016 and 2015 included $1,372,391 and $1,478,160, respectively, of liabilities of the VIEs whose creditors have no recourse to the Company. These liabilities include accounts payable of $161,825 and $38,004; other payables of $407,769 and $914,817; payroll accrual of $792,706 and $464,510; and other non-current liabilities of $10,091 and $60,829. See further description in Note 6, Variable Interest Entities.

7. OTHER RECEIVABLES (Details N

7. OTHER RECEIVABLES (Details Narrative) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Other Receivables Details Narrative
Other receivables	$ 412,727	$ 271,344

8. INVENTORY (Details)

8. INVENTORY (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Inventory Details
Raw materials	$ 0	$ 357,896
Work in progress	0	0
Semi-finished goods	0	15,346
Finished goods	0	17,644
Inventory Total	$ 0	$ 390,886

8. INVENTORY (Details 1)

8. INVENTORY (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Balance at the beginning of the period	$ 123,848	$ 0	$ 0
Addition	110,145	123,848	0
Reversal	(225,536)	0	0
Exchange difference	(8,457)	0	0
Balance at the end of the period	$ 0	$ 123,848	$ 0

9. PROPERTY, PLANT AND EQUIPM53

9. PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Gross Property plant and equipment	$ 6,675,718	$ 4,954,766
Less: accumulated depreciation	(2,557,979)	(2,185,866)
Net Property plant and equipment	4,117,739	2,768,900
Office equipment
Gross Property plant and equipment	80,485	24,526
Manufacturing equipment
Gross Property plant and equipment	3,347,458	2,680,805
Computer equipment
Gross Property plant and equipment	162,769	150,698
Leasehold improvements
Gross Property plant and equipment	1,912,573	1,417,997
Construction in progress
Gross Property plant and equipment	$ 1,172,433	$ 680,740

9. PROPERTY, PLANT AND EQUIPM54

9. PROPERTY, PLANT AND EQUIPMENT (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property Plant And Equipment Details Narrative
Depreciation expense	$ 850,793	$ 573,015	$ 586,679

10. INVESTMENTS (Details)

10. INVESTMENTS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Cost	$ 731,388	$ 5,343,101
Gross Unrealized Gains	0	170,000
Gross Unrealized Losses more than 12 months	0	0
Gross Unrealized Losses less than 12 months	(221,964)	(133,694)
Market or Fair Value	509,424	5,379,407
Equity position in Alpha Lujo, Inc.
Cost	251,388	251,388
Gross Unrealized Gains	0	0
Gross Unrealized Losses more than 12 months	0	0
Gross Unrealized Losses less than 12 months	(221,964)	(133,694)
Market or Fair Value	29,424	117,694
Equity position in Arem Pacific Corporation
Cost	480,000	5,030,000
Gross Unrealized Gains	0	170,000
Gross Unrealized Losses more than 12 months	0	0
Gross Unrealized Losses less than 12 months	0	0
Market or Fair Value	$ 480,000	5,200,000
Equity position in Wonder International Education & Investment
Cost		61,713
Gross Unrealized Gains		0
Gross Unrealized Losses more than 12 months		0
Gross Unrealized Losses less than 12 months		0
Market or Fair Value		$ 61,713

10. INVESTMENTS (Details Narrat

10. INVESTMENTS (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule of Investments [Abstract]
Net proceeds from sale of investments	$ 0	$ 1,480
Realized losses from sale of investments	0	5,178	$ 5,913
Unrecognized gain (loss) on investments	5,300,633	(1,376,540)	1,611,045
Impairment of investments	$ 4,611,714	$ 123,428	$ 1,427,840

11. FAIR VALUE ACCOUNTING (Deta

11. FAIR VALUE ACCOUNTING (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Equity position	$ 509,424	$ 5,379,407
Equity position in Alpha Lujo, Inc.
Equity position	29,424	117,694
Equity position in Arem Pacific Corporation Member
Equity position	480,000	5,200,000
Equity position in Wonder International Education & Investment Group Corporation
Equity position		61,713
Level 1
Equity position	0	0
Level 1 | Equity position in Alpha Lujo, Inc.
Equity position	0	0
Level 1 | Equity position in Arem Pacific Corporation Member
Equity position	0	0
Level 1 | Equity position in Wonder International Education & Investment Group Corporation
Equity position		0
Level 2
Equity position	509,424	5,379,407
Level 2 | Equity position in Alpha Lujo, Inc.
Equity position	29,424	117,694
Level 2 | Equity position in Arem Pacific Corporation Member
Equity position	480,000	5,200,000
Level 2 | Equity position in Wonder International Education & Investment Group Corporation
Equity position		61,713
Level 3
Equity position	0	0
Level 3 | Equity position in Alpha Lujo, Inc.
Equity position	0	0
Level 3 | Equity position in Arem Pacific Corporation Member
Equity position	$ 0	0
Level 3 | Equity position in Wonder International Education & Investment Group Corporation
Equity position		$ 0

11. FAIR VALUE ACCOUNTING (De58

11. FAIR VALUE ACCOUNTING (Details Narrative) - shares	Dec. 31, 2016	Dec. 31, 2015
Equity position in Arem Pacific Corporation Member
Shares held by the company	8,000,000	8,000,000
Equity position in Alpha Lujo, Inc.
Shares held by the company	2,942,350	2,942,350
Equity position in Wonder International Education & Investment Group Corporation
Shares held by the company	2,057,131	2,057,131

12. INTANGIBLE ASSETS (Details)

12. INTANGIBLE ASSETS (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Total intangibles, net	$ 14,092,581	$ 15,949,100
Patents, Knowhow & License [Member]
Cost basis	17,560,496	17,686,700
Less: accumulated amortization	(3,539,617)	(1,790,045)
Intangible assets, gross	14,020,879	15,896,655
Software [Member]
Cost basis	125,964	90,951
Less: accumulated amortization	(54,262)	(38,506)
Intangible assets, gross	$ 71,702	$ 52,445

12. INTANGIBLE ASSETS (Details

12. INTANGIBLE ASSETS (Details 1) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Shares held by the company [Default Label]
2,017	$ 1,779,961
2,018	1,771,556
2,019	1,770,911
2,020	1,767,337
2021 and thereafter	7,002,816
Intangibles, net	$ 14,092,581	$ 15,949,100

12. INTANGIBLE ASSETS (Detail61

12. INTANGIBLE ASSETS (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Amortization expense	$ 1,784,208	$ 1,521,629	$ 603,826
Software [Member]
Intangible assets estimated useful life	5 years
Patents, Knowhow & License [Member] | Minimum [Member]
Intangible assets estimated useful life	5 years
Patents, Knowhow & License [Member] | Maximum [Member]
Intangible assets estimated useful life	10 years

13. LEASES (Details)

13. LEASES (Details)	Dec. 31, 2016USD ($)
Leases Details
2,017	$ 965,885
2,018	718,856
2,019	459,255
2,020	252,126
2021 and thereafter	546,634
Total	$ 2,942,756

13. LEASES (Details Narrative)

13. LEASES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Leases Details Narrative
Rent expense under operating leases	$ 1,043,968	$ 1,043,833	$ 576,000

14. RELATED PARTY TRANSACTIONS

14. RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Related Party Transactions Details Narrative
Director fees	$ 3,082	$ 0
Due from officers	$ 0	$ 19,214

15. EQUITY (Details Narrative)

15. EQUITY (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Notes to Financial Statements
Expense associated with stock options awards	$ 4,742,920	$ 7,182,118	$ 1,636,311
Restricted common stock issuances	$ 709,497	$ 410,320	$ 106,392
Underlying exercised shares	196,185	152,404	3,650
Restricted common stock issued to directors	24,660	6,253	27,275

16. COMMITMENTS AND CONTINGEN66

16. COMMITMENTS AND CONTINGENCIES (Details)	Dec. 31, 2016USD ($)
Notes to Financial Statements
Contracts for acquisition of plant and equipment being or to be executed	$ 1,451,278

17. STOCK BASED COMPENSATION (D

17. STOCK BASED COMPENSATION (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Ending Balance	1,607,815
Equity Option [Member]
Beginning Balance	1,952,648	1,425,173
Granted	309,382	721,779
Forfeited	(458,030)	(41,900)
Exercised	(152,404)	(152,404)
Ending Balance	1,607,815	1,952,648	1,425,173
Vested and exercisable	994,152
Weighted Average Exercise Price, Outstanding Beggining Balance	$ 12.42	$ 7.37
Weighted Average Exercise Price, Granted	18.65	20.89
Weighted Average Exercise Price, Forfeited	19.45	15.58
Weighted Average Exercise Price, Exercised	4.51	4.48
Weighted Average Exercise Price, Outstanding Ending Balance	12.59	$ 12.42	$ 7.37
Weighted Average Exercise Price, Vested and exercisable	$ 5.53
Weighted-Average Remaining Contractual Term, Outstanding	7 years 3 months 18 days	7 years 9 months 18 days	8 years 10 months 24 days
Weighted-Average Remaining Contractual Term, Vested and exercisable	6 years 8 months 12 days
Aggregate Intrinsic Value, Outstanding	$ 6,355,072	$ 17,701,962	$ 11,065,770
Aggregate Intrinsic Value, Vested and exercisable	$ 5,899,528

17. STOCK BASED COMPENSATION 68

17. STOCK BASED COMPENSATION (Details 1)	Dec. 31, 2016shares
Number of Shares Outstanding	1,607,815
Outstanding stock options,Exerciseable	994,152
$3.00 - $4.95 [Member]
Number of Shares Outstanding	185,547
Outstanding stock options,Exerciseable	185,547
$5.00 - $9.19 [Member]
Number of Shares Outstanding	566,704
Outstanding stock options,Exerciseable	509,262
$12.91 + [Member]
Number of Shares Outstanding	855,564
Outstanding stock options,Exerciseable	299,343

17. STOCK BASED COMPENSATION 69

17. STOCK BASED COMPENSATION (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Compensation cost related to restricted stock grants	$ 709,497	$ 410,320	$ 106,392
Stock-based compensation	4,742,920	$ 7,182,117	$ 1,636,311
Unrecognized compensation cost related to non-vested stock option awards	$ 6,264,211
Non-vested stock option awards	613,663
Unrecognized compensation cost related to non-vested restricted stock awards	$ 1,049,174
Non-vested restricted stock	54,307
Weighted-average period for the stock option awards	1 year 2 months 16 days
Weighted-average period for the restricted stock awards	1 year 3 months 4 days
Shares issued under 2011, 2013 and 2014 Incentive Plan	309,382	721,779	795,500
Grant date fair value of the options	$ 3,811,362	$ 13,687,655	$ 6,884,822
Expected lives	6 years	6 years	6 years
Minimum Risk-free interest rate	1.07%	1.39%	1.77%
Maximum Risk-free interest rate	2.17%	1.92%	2.08%
Cash received from option exercises under share-based payment	$ 885,680	$ 682,303	$ 19,387
Minimum [Member]
Stock exercise price	$ 12.13	$ 12.91	$ 5
Expected volatility	88.44%	88.41%	112.00%
Maximum [Member]
Stock exercise price	$ 40	$ 38.4	$ 28.49
Expected volatility	90.03%	99.27%	130.00%

18. NET LOSS PER SHARE (Details

18. NET LOSS PER SHARE (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net loss per share :
Loss from continuing operations	$ (6,139,761)	$ (10,661,220)	$ (7,197,282)	$ (4,210,113)	$ (4,991,877)	$ (5,142,198)	$ (5,026,475)	$ (4,287,171)	$ (28,208,376)	$ (19,447,721)	$ (12,355,459)
Loss on discontinued operations									0	0	(3,119,152)
Net loss	$ (6,139,761)	$ (10,661,220)	$ (7,197,282)	$ (4,210,113)	$ (4,991,877)	$ (5,142,198)	$ (5,026,475)	$ (4,287,171)	$ (28,208,376)	$ (19,447,721)	$ (15,474,611)
Weighted average shares of common stock									13,507,408	11,472,306	8,627,094
Dilutive effect of stock options									0	0	0
Restricted stock vested not issued									0	0	0
Common stock and common stock equivalents									13,507,408	11,472,306	8,627,094
Loss from continuing operations per basic share									$ (2.09)	$ (1.70)	$ (1.43)
Loss from continuing operations per diluted share									(2.09)	(1.70)	(1.43)
Loss on discontinued operations per basic share									0	0	(0.36)
Loss on discontinued operations per diluted share									0	0	(0.36)
Net loss per basic share	$ (0.43)	$ (0.75)	$ (0.52)	$ (0.35)	$ (0.43)	$ (0.44)	$ (0.44)	$ (0.39)	(2.09)	(1.70)	(1.79)
Net loss per diluted share	$ (0.43)	$ (0.75)	$ (0.52)	$ (0.35)	$ (0.43)	$ (0.44)	$ (0.44)	$ (0.39)	$ (2.09)	$ (1.70)	$ (1.79)

19. INCOME TAXES (Details)

19. INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current:
US federal	$ 0	$ (733,158)	$ 41,798
US state	4,093	4,557	8,947
Foreign	0	0	0
Total current tax (credit) expense	4,093	(728,601)	50,745
Deferred:
Federal	0	0	0
State	0	0	0
Foreign	0	0	0
Total deferred tax expense	0
Total income tax (credit) expense	$ 4,093	$ (728,601)	$ 50,745

19. INCOME TAXES (Details 1)

19. INCOME TAXES (Details 1) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Net operating loss carry forwards (offshore)	$ 3,827,747	$ 1,994,281
Net operating loss carry forwards (US)	4,496,655	2,300,322
Accruals (offshore)	280,756	176,859
Accrued compensation (US)	25,168	36,177
Stock-based compensation (US)	3,018,905	1,430,243
Investments (US)	3,673,382	1,683,237
Credits (US)	97,504	72,004
Goodwill & intangibles	33,079	0
Subtotal	15,453,196	7,693,123
Less: valuation allowance	(15,452,737)	(7,663,450)
Total deferred tax assets	459	29,673
Deferred tax liabilities:
Property and equipment	(459)	(1,377)
Goodwill & Intangibles	0	(28,296)
Subtotal	(459)	(29,673)
Net deferred tax asset	$ 0	$ 0

19. INCOME TAXES (Details 2)

19. INCOME TAXES (Details 2)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Effective Tax Rate Reconciliation
Income tax provision at statutory rate	(35.00%)	(35.00%)	(35.00%)
State income taxes, net of federal benefit	0.00%	0.00%	0.00%
Goodwill impairment	0.00%	0.00%	7.00%
Foreign rate differential	9.00%	12.00%	14.00%
Other permanent difference	2.00%	4.00%	0.00%
Change in valuation allowance	24.00%	15.00%	14.00%
Total tax (credit) expense	(0.00%)	(4.00%)	(0.00%)

19. INCOME TAXES (Details Narra

19. INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Effective tax rate	0.00%	4.00%	0.00%
U.S Federal [Member]
Net operating loss carryforwards	$ 11,100,000
Losses expiration period	Dec. 31, 2034
Effective tax rate	35.00%
U.S. State [Member]
Net operating loss carryforwards	$ 10,700,000
Losses expiration period	Dec. 31, 2034
Chinese [Member]
Net operating loss carryforwards	$ 9,480,000
Losses expiration period	Dec. 31, 2021
Chinese [Member] | Minimum [Member]
Effective tax rate	15.00%
Chinese [Member] | Maximum [Member]
Effective tax rate	25.00%
Hong Kong [Member]
Effective tax rate	16.50%
CBMG Shanghai [Member]
Effective tax rate		15.00%	25.00%	25.00%

23. UNAUDITED QUARTERLY FINAN75

23. UNAUDITED QUARTERLY FINANCIAL INFORMATION (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Unaudited Quarterly Financial Information Details
Net sales and revenue	$ 57,828	$ 10,012	$ 71,599	$ 488,491	$ 620,167	$ 624,907	$ 656,959	$ 603,390	$ 627,930	$ 2,505,423	$ 564,377
Gross Profit/(Loss)	33,319	884	(251,988)	(14,702)	75,543	181,491	258,730	109,328	(232,487)	625,092	322,162
Loss from continuing operations	(6,139,761)	(10,661,220)	(7,197,282)	(4,210,113)	(4,991,877)	(5,142,198)	(5,026,475)	(4,287,171)	(28,208,376)	(19,447,721)	(12,355,459)
Net loss	$ (6,139,761)	$ (10,661,220)	$ (7,197,282)	$ (4,210,113)	$ (4,991,877)	$ (5,142,198)	$ (5,026,475)	$ (4,287,171)	$ (28,208,376)	$ (19,447,721)	$ (15,474,611)
Net loss per share :
Basic	$ (0.43)	$ (0.75)	$ (0.52)	$ (0.35)	$ (0.43)	$ (0.44)	$ (0.44)	$ (0.39)	$ (2.09)	$ (1.70)	$ (1.79)
Diluted	$ (0.43)	$ (0.75)	$ (0.52)	$ (0.35)	$ (0.43)	$ (0.44)	$ (0.44)	$ (0.39)	$ (2.09)	$ (1.70)	$ (1.79)