Document And Entity Information
Document And Entity Information | 12 Months Ended |
Dec. 31, 2015shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | true |
Amendment Description | Amendment to Form 20-F document filed on 2016-04-29. |
Document Period End Date | Dec. 31, 2015 |
Document Fiscal Year Focus | 2,015 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | TANTECH HOLDINGS LTD |
Entity Central Index Key | 1,588,084 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Non-accelerated Filer |
Trading Symbol | TANH |
Entity Common Stock, Shares Outstanding | 21,600,000 |
Consolidated Balance Sheets
Consolidated Balance Sheets ¥ in Millions | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) |
Current Assets | ||
Cash and cash equivalents | $ 6,273,389 | $ 415,275 |
Restricted cash | 0 | 3,583,800 |
Accounts receivable, net | 40,484,871 | 43,567,769 |
Inventories, net | 1,097,048 | 1,339,302 |
Advances to suppliers, net | 15,597,108 | 10,634,280 |
Other receivables, net | 230,834 | 68,778 |
Deferred tax assets | 0 | 140,226 |
Total current assets | 63,683,250 | 59,749,430 |
Property, plant and equipment, net | 11,118,635 | 12,802,932 |
Other Assets | ||
Deferred tax assets | 0 | 26,109 |
Intangible assets, net | 2,102,507 | 2,422,421 |
Deposit for asset acquisiton | 2,465,600 | 3,707,702 |
Deposit for business acquisition | 7,705,000 | 0 |
Total Assets | 87,074,992 | 78,708,594 |
Current Liabilities | ||
Short-term bank loans | 8,444,680 | 2,117,700 |
Bankers acceptance notes payable | 0 | 7,167,600 |
Accounts payable | 3,072,368 | 3,741,193 |
Customer deposits | 606,029 | 562,995 |
Taxes payable | 804,270 | 2,272,106 |
Accrued liabilities and other payable | 1,058,160 | 370,211 |
Total current liabilities | 13,985,507 | 16,231,805 |
Equity | ||
Common stock, $0.001 par value, 50,000,000 shares authorized, 21,600,000 and 20,000,000 shares issued and outstanding at December 31,2015 and 2014 | 21,600 | 20,000 |
Additional paid-in capital | 15,134,752 | 9,473,230 |
Statutory reserves | 6,401,235 | 5,377,637 |
Retained earnings | 48,350,456 | 40,935,229 |
Accumulated other comprehensive income (loss) | (262,900) | 3,515,420 |
Total Stockholders' Equity | 69,645,143 | 59,321,516 |
Noncontrolling interest | 3,444,342 | 3,155,273 |
Total Equity | 73,089,485 | 62,476,789 |
Total Liabilities and Equity | $ 87,074,992 | $ 78,708,594 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2015 | Dec. 31, 2014 |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 50,000,000 | 50,000,000 |
Common Stock, Shares, Issued | 21,600,000 | 20,000,000 |
Common Stock, Shares, Outstanding | 21,600,000 | 20,000,000 |
Consolidated Statements of Inco
Consolidated Statements of Income and Comprehensive Income - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Revenues | $ 58,829,900 | $ 65,493,106 |
Cost of revenues | 41,947,684 | 44,852,994 |
Gross Profit | 16,882,216 | 20,640,112 |
Operating expenses | ||
Selling expenses | 859,200 | 1,081,446 |
General and administrative expenses | 4,723,707 | 1,639,288 |
Research and development expenses | 1,084,867 | 745,636 |
Total operating expenses | 6,667,774 | 3,466,370 |
Income from operations | 10,214,442 | 17,173,742 |
Other income (expenses) | ||
Interest income | 82,712 | 162,378 |
Interest expense | (412,358) | (547,584) |
Government subsidy income | 326,018 | 62,137 |
Other income, net | 1,093,654 | 720,700 |
Total other income | 1,090,026 | 397,631 |
Income before income taxes | 11,304,468 | 17,571,373 |
Provision for income taxes | 2,377,715 | 2,854,489 |
Net income | 8,926,753 | 14,716,884 |
Net income attributable to the noncontrolling interest | (487,928) | (735,844) |
Net income attributable to common stockholders | 8,438,825 | 13,981,040 |
Net income | 8,926,753 | 14,716,884 |
Other comprehensive income: | ||
Foreign currency translation losses | (3,977,179) | (184,951) |
Comprehensive income | 4,949,574 | 14,531,933 |
Less: Comprehensive income attributable to noncontrolling interest | (289,069) | (726,596) |
Comprehensive income attributable to common stockholders | $ 4,660,505 | $ 13,805,337 |
Earnings Per share -Basic and Diluted | $ 0.40 | $ 0.33 |
Weighted Average Shares Outstanding - Basic and diluted | 21,240,548 | 41,890,411 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - USD ($) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Statutory Reserve Member [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] |
Balance at Dec. 31, 2013 | $ 47,944,856 | $ 50,000 | $ 9,443,230 | $ 3,691,123 | $ 4,001,647 | $ 28,330,179 | $ 2,428,677 |
Balance (In Shares) at Dec. 31, 2013 | 50,000,000 | ||||||
Repurchase and cancellation of 30,000,000 shares | 0 | $ (30,000) | 30,000 | 0 | 0 | 0 | 0 |
Repurchase and cancellation of 30,000,000 shares (In Shares) | (30,000,000) | ||||||
Appropriation of retained earnings to statutory reserve fund | 0 | $ 0 | 0 | 0 | 1,375,990 | (1,375,990) | 0 |
Foreign currency translation losses | (184,951) | 0 | 0 | (175,703) | 0 | 0 | (9,248) |
Net income for the year | 14,716,884 | 0 | 0 | 0 | 0 | 13,981,040 | 735,844 |
Balance at Dec. 31, 2014 | 62,476,789 | $ 20,000 | 9,473,230 | 3,515,420 | 5,377,637 | 40,935,229 | 3,155,273 |
Balance (In Shares) at Dec. 31, 2014 | 20,000,000 | ||||||
Issuance of ordinary shares, net of issuance costs of $736,878 | 5,663,122 | $ 1,600 | 5,661,522 | 0 | 0 | 0 | 0 |
Issuance of ordinary shares, net of issuance costs of $736,878 (in shares) | 1,600,000 | ||||||
Issuance of ordinary shares under service agreements | 17,028,000 | $ 1,200 | 17,026,800 | 0 | 0 | 0 | 0 |
Issuance of ordinary shares under service agreements (in shares) | 1,200,000 | ||||||
Cancellation of ordinary shares upon termination of service agreements | (17,028,000) | $ (1,200) | (17,026,800) | 0 | 0 | 0 | 0 |
Cancellation of ordinary shares upon termination of service agreements (in shares) | (1,200,000) | ||||||
Appropriation of retained earnings to statutory reserve fund | 0 | $ 0 | 0 | 0 | 1,023,598 | (1,023,598) | 0 |
Foreign currency translation losses | (3,977,179) | 0 | 0 | (3,778,320) | 0 | 0 | (198,859) |
Net income for the year | 8,926,753 | 0 | 0 | 0 | 0 | 8,438,825 | 487,928 |
Balance at Dec. 31, 2015 | $ 73,089,485 | $ 21,600 | $ 15,134,752 | $ (262,900) | $ 6,401,235 | $ 48,350,456 | $ 3,444,342 |
Balance (In Shares) at Dec. 31, 2015 | 21,600,000 |
Consolidated Statements of Cha6
Consolidated Statements of Changes in Equity (Parenthetical) | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Payments of Stock Issuance Costs | $ 736,878 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flows from operating activities | ||
Net income | $ 8,926,753 | $ 14,716,884 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Changes in allowances - accounts receivable | 972,642 | (1,343,977) |
Changes in allowances - advance to suppliers | (8,547) | 194,705 |
Changes in allowances - loan to third parties | 0 | (27,689) |
Changes in inventory reserve | 156,775 | (43,450) |
Depreciation expense | 1,244,154 | 1,290,857 |
Deferred income tax provision | 163,987 | 329,588 |
Amortization of intangible asset | 197,026 | 216,086 |
Loss from disposal of property, plant and equipment | 0 | 9,102 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (212,550) | (13,868,300) |
Advances to suppliers | (5,762,321) | 515,168 |
Inventory | 20,295 | 42,444 |
Other receivables | (49,507) | 50,759 |
Accounts payable | (486,409) | 602,059 |
Customer deposits | 76,546 | (638,556) |
Taxes payable | (1,516,651) | 431,467 |
Accrued liabilities and other payables | 728,339 | (16,785) |
Net cash provided by operating activities | 4,450,532 | 2,460,362 |
Cash flows from investing activities | ||
Additions to property, plant and equipment | (242,552) | (1,594,404) |
Proceeds from disposal of property, plant and equipment | 32,940 | 9,767 |
Loans to third parties | 0 | 1,753,248 |
Changes in deposit for asset acquisiton | 1,085,752 | 364,552 |
Deposit for business acquisiton | (8,030,000) | 0 |
Net cash provided by (used in) investing activities | (7,153,860) | 533,163 |
Cash flows from financing activities | ||
Changes in restricted cash | 3,533,200 | 0 |
Repayment of loans from third party | 0 | (38,899) |
Borrowings from Bankers acceptance notes payable | 2,248,400 | 14,325,520 |
Repayments of Bankers acceptance notes payable | (9,314,800) | (14,325,520) |
Borrowings from bank loans | 12,012,880 | 2,189,526 |
Repayments of bank loans | (5,299,800) | (6,259,276) |
Repayments of loans from related parties | 0 | (119,436) |
Net proceeds from stock issurance | 5,663,122 | 0 |
Net cash provided by (used in) financing activities | 8,843,002 | (4,228,085) |
Effect of exchange rate changes on cash and cash equivalents | (281,560) | (9,224) |
Net increase (decrease) in cash and cash equivalents | 5,858,114 | (1,243,784) |
Cash and cash equivalents, beginning of year | 415,275 | 1,659,059 |
Cash and cash equivalents, end of year | 6,273,389 | 415,275 |
Supplemental disclosure information: | ||
Income taxes paid | 2,892,808 | 2,245,586 |
Interest paid | $ 411,805 | $ 534,230 |
Organization and nature of busi
Organization and nature of business | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 Organization and nature of business Tantech Holdings Ltd. (“Tantech BVI”) is a holding company established under the laws of the British Virgin Islands on November 19, 2010. Tantech BVI owns 100 On December 31, 2010, USCNHK entered into an equity transfer agreement with Zhejiang Forasen Group Co., Ltd. ("Forasen Group”), in which USCNHK agreed to acquire 95 115,520,000 18.5 5 On March 20, 2013, USCNHK completed payments of RMB 115,520,000 18.5 37,635,136 6.1 For accounting purposes, the above mentioned transactions were accounted for in a manner similar to a recapitalization. Tantech BVI and its wholly-owned subsidiary USCNHK, who own 95% interest of Tantech Bamboo, were effectively controlled by the same majority shareholders of Tantech Bamboo. Therefore, Tantech BVI, USCNHK and Tantech Bamboo are all considered under common control. The consolidation of Tantech Bamboo and its subsidiaries into Tantech BVI has been accounted for at historical cost and prepared on the basis as if the aforementioned reorganization had become effective as of the beginning of the first period presented in the accompanying consolidated financial statements. Incorporated in the City of Lishui, Zhejiang Province of the People’s Republic of China (“China” or “PRC”) on December 5, 2005, Tantech Bamboo is engaged in the research and development, production and distribution of various products made from bamboo. In addition, Tantech Bamboo also has five wholly-owned subsidiaries: Zhejiang Tantech Bamboo Charcoal Co., Ltd. (“Tantech Charcoal” or “Charcoal”), Zhejiang Tantech Energy Tech Co., Ltd. (“Tantech Energy” or “Energy”), Zhejiang Babiku Charcoal Co., Ltd. (“Tantech Babiku” or “Babiku”), Lishui Zhongzhu Charcoal Co., Ltd. (“Lishui Zhongzhu” or “Zhongzhu”) and Hangzhou Tanbo Tech Co., Ltd. (“Tanbo Tech” or “Tanbo”). Tantech Charcoal conducts trading business, including the export of charcoal products; Tantech Energy is engaged in the manufacturing of EDLC carbon and low emission barbecue (“BBQ) charcoal; Tantech Babiku, established by Tantech Bamboo on October 20, 2015, conducts BBQ charcoal business and Tantech Energy is currently in the process of transferring its low emission BBQ charcoal business to Tantech Babiku. Lishui Zhongzhu, established by Tantech Bamboo on November 18, 2015, will be engaged in the production and sales of active charcoal and other products. Tanbo Tech, a new entity established by Tantech Bamboo on December 8, 2015, plans to explore business opportunities outside Lishui area. |
Summary of significant accounti
Summary of significant accounting policies | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | Note 2 S ummary of significant accounting policies The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). The consolidated financial statements include the financial statements of Tantech BVI and its subsidiaries, USCNHK, Tantech Bamboo as well as Tantech Bamboo’s wholly owned subsidiaries, Tantech Charcoal, Tantech Energy and Tantech Babiku (collectively, the “Company”). All significant inter-company balances and transactions are eliminated upon consolidation. In preparing the consolidated financial statements in conformity with US GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dates of the consolidated financial statements, as well as the reported amounts of revenues and expenses during the reporting year. Significant items subject to such estimates and assumptions include the useful lives of property and equipment; allowances pertaining to the allowance for doubtful accounts and advances to related parties and suppliers; the valuation of inventories; and the realizability of deferred tax assets. The Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 820, “Fair Value Measurements”, defines fair value, establishes a three-level valuation hierarchy for fair value measurements and enhances disclosure requirements. The three levels are defined as follows: Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted market prices for identical or similar assets in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3 - inputs to the valuation methodology are unobservable. Unless otherwise disclosed, the fair value of the Company’s financial instruments including cash, restricted cash, accounts receivable, advances to suppliers, accounts payable, customer deposits, accrued expenses, short term bank loans and bank acceptance notes payable approximates their recorded values due to their short-term maturities. For purposes of the statements of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less and money market accounts to be cash equivalents. All cash balances are in bank accounts in PRC and Hong Kong and are not insured by the Federal Deposit Insurance Corporation or other programs. Restricted cash represents required cash deposits as a part of collateral for bank acceptance notes payable and letters of credit. The Company is required to maintain 50 Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash, trade accounts receivable and advances to suppliers. All of the Company’s cash is maintained with banks within the People’s Republic of China and Hong Kong of which no deposits are covered by insurance. The Company has not experienced any losses in such accounts. A significant portion of the Company's sales are credit sales which are primarily to customers whose ability to pay is dependent upon the industry economics prevailing in these areas. The Company also makes cash advances to certain suppliers to ensure the stable supply of key raw materials. The Company performs ongoing credit evaluations of its customers and key suppliers to help further reduce credit risk. Accounts receivable are presented net of an allowance for doubtful accounts. The Company maintains an allowance for doubtful accounts for estimated losses. The Company reviews its accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances, the Company considers many factors, including the age of the balance, customer’s historical payment history, its current credit-worthiness and current economic trends. Accounts are written off after efforts at collection prove unsuccessful. The Company values its inventories at the lower of cost, determined on a weighted average basis, or market. The Company reviews its inventories periodically to determine if any reserves are necessary for potential obsolescence or if a write-down is necessary if the carrying value exceeds net realizable value. In order to ensure a steady supply of raw materials, the Company is required from time to time to make cash advances when placing its purchase orders. The Company reviews its advances to suppliers on a periodic basis and makes general and specific allowances when there is doubt as to the ability of a supplier to refund an advance to the Company. Property and equipment are stated at cost less accumulated depreciation. The cost of an asset comprises its purchase price and any directly attributable costs of bringing the asset to its present working condition and location for its intended use. Depreciation is computed on a straight-line basis over the estimated useful lives of the related assets. Buildings 20 years Machinery and equipment 5-10 years Transportation equipment 4 years Office equipment 4 - 5 years Electronic equipment 3 years Repairs and maintenance costs are normally charged to earnings in the year in which they are incurred. In situations where it can be clearly demonstrated that the expenditure has resulted in an increase in the future economic benefits expected to be obtained from the use of the asset, the expenditure is capitalized as an additional cost of the asset. Construction in progress includes direct costs of construction or acquisition of equipment, interest expense associated with the loans used for the construction and design fees incurred. Capitalization of these costs ceases and the construction in progress is transferred to plant and equipment when substantially all the activities necessary to prepare the assets for their intended use are completed. No depreciation is provided until it is completed and ready for its intended use. Customer deposits represent amounts received from customers in advance of shipments relating to the sales of the Company’s products. Non-controlling interest represents the minority stockholders’ proportionate share of 5 The Company’s sales have seasonality, with low sales volume in January and February, and high sales volume in November and December. The sales between March and September do not follow any seasonal pattern. The seasonality is mainly due to China’s biggest sales season of the year, the Spring Festival, which usually falls between January and February. Before the Spring Festival, supermarkets usually increase their purchases to prepare for the holiday sale. The Company’s main customers are supermarkets chain stores, who also increase purchases from the Company in November and December in preparation for the annual sale. The Company recognizes revenues under FAS Codification Topic 605 (“ASC 605”). Revenue is recognized when all of the following have occurred: (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred or services have been rendered, (iii) the price is fixed or determinable, and (iv) the ability to collect is reasonably assured. These criteria are generally satisfied by the Company at the time of delivery for sales, which is the point when risk of loss and title passes to the customer. The delivery of goods either occurs when (a) goods leave the Company’s warehouse or production facilities or (b) goods are delivered and accepted by customer, usually at a location outside the Company. For sales under free on board (“FOB”) warehouse or production facilities term, the Company recognizes revenue when product leaves the Company’s warehouse or production facility. Product delivery is evidenced by warehouse shipping log as well as signed shipping bills from the shipping company. For sales under FOB destination term, the Company recognizes revenue when product is delivered and accepted by customer. Product delivery is evidenced by signed receipt document upon delivery. Revenue recognized under such method accounted for approximately 68% and 70 Under both cases, the risk of loss and/or title of goods have been passed to customer at the time of delivery. The Company does not recognize any revenue for any sale arrangements that do not transfer title and/or risk of loss. The Company’s sales cutoff for both methods is evidenced by the receipt of goods delivery either signed by the shipping company or the customer acknowledging the receipt of goods. Such document is used as the proof of transfer of title and/or risk of loss. Revenue is reported net of all value added taxes. The Company does not routinely permit customers to return products and historically, customer returns have been immaterial. Cost of revenues includes cost of raw materials purchased, inbound freight cost, cost of direct labor, depreciation expense and other overhead. Cost of revenues also includes the cost of raw materials and utility purchased from related parties. Write-down of inventory for lower of cost or market adjustments is also recorded in cost of revenues. The Company periodically receives various government grants such as “High Technology Projects Subsidy” and “Scientific Research Grant”. There is no guarantee the Company will continue to receive such grants in the future. Other Income Other income was primarily related to the consulting fee that the Company charged a third party using a Company’s patent in the production of doors with air treatment functionality. The Company’s financial information is presented in U.S. dollars. The functional currency of the Company’s subsidiaries in the PRC is the RMB, the currency of the PRC. Any subsidiary transactions, which are denominated in currencies other than RMB, are translated into RMB at the exchange rate quoted by the People’s Bank of China prevailing at the dates of the transactions, and exchange gains and losses are included in the statements of operations as foreign currency transaction gain or loss. The consolidated financial statements of the Company have been translated into U.S. dollars in accordance with ASC 830, “Foreign Currency Matters”. The financial information is first prepared in RMB and then is translated into U.S. dollars at period-end exchange rates for assets and liabilities and average exchange rates for revenue and expenses. Capital accounts are translated at their historical exchange rates when the capital transactions occurred. The effects of foreign currency translation adjustments are included as a component of accumulated other comprehensive income in stockholders’ equity. Cash flows from the Company’s operations are calculated based upon the local currencies using the average translation rate. As a result, amounts related to assets and liabilities reported on the statements of cash flows will not necessarily agree with changes in the corresponding balances on the balance sheets. The exchange rates in effect as of December 31, 2015 and 2014 were RMB 1 for $ 0.1541 0.1629 0.1606 0.1628 Comprehensive Income Comprehensive income consists of two components, net income and other comprehensive income. Other comprehensive income refers to revenue, expenses, gains and losses that under GAAP are recorded as an element of shareholder’s equity but are excluded from net income. Other comprehensive income consists of foreign currency translation adjustment from those subsidiaries not using the U.S. dollar as their functional currency. The Company’s subsidiaries in China are subject to the income tax laws of the PRC. No taxable income was generated outside the PRC for the years ended December 31, 2015 and 2014. The Company accounts for income taxes in accordance with ASC 740, “Income Taxes”. ASC 740 requires an asset and liability approach for financial accounting and reporting for income taxes and allows recognition and measurement of deferred tax assets based upon the likelihood of realization of tax benefits in future years. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or future deductibility is uncertain. ASC 740-10-25 prescribes a more-likely-than-not threshold for financial statement recognition and measurement of a tax position taken (or expected to be taken) in a tax return. It also provides guidance on the recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, years open for tax examination, accounting for income taxes in interim periods and income tax disclosures. There were no material uncertain tax positions as of December 31, 2015 and 2014. All tax returns since the Company’s inception are subject to examination by tax authorities. The Company is subject to VAT for selling merchandise. The applicable VAT rate is 13% or 17% (depending on the type of goods involved) for products sold in the PRC. The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share” (“ASC 260”), and SEC Staff Accounting Bulletin No. 98 (“SAB 98”). ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. In accordance with ASC 230, “Statement of Cash Flows,” cash flows from the Company’s operations are calculated based upon the local currencies. As a result, amounts related to assets and liabilities reported on the statements of cash flows will not necessarily agree with changes in the corresponding balances on the balance sheets. The operations of the Company are located in the PRC. Accordingly, the Company’s business, financial condition, and results of operations may be influenced by the political, economic, and legal environments in the PRC, in addition to the general state of the PRC economy. The Company’s results may be adversely affected by changes in the political and social conditions in the PRC, and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things. The Company’s sales, purchases and expense transactions are denominated in RMB, and all of the Company’s assets and liabilities are also denominated in RMB. The RMB is not freely convertible into foreign currencies under the current law. In China, foreign exchange transactions are required by law to be transacted only by authorized financial institutions at exchange rates set by the People’s Bank of China, the central bank of China. Remittances in currencies other than RMB may require certain supporting documentation in order to effect the remittance. The Company does not carry any business interruption insurance, products liability insurance or any other insurance policy except for a limited property insurance policy. As a result, the Company may incur uninsured losses, increasing the possibility that investors would lose their entire investment in the Company. Research and development costs are expensed to operations as incurred. All shipping and handling costs are expensed as incurred and included in selling expenses. Total shipping and handling expenses were $ 222,782 299,797 Advertising expenses included in selling expenses were $ 25,999 860 In February 2015, the Financial Accounting Standards Board (“FASB”) issued new guidance for evaluating whether a reporting organization should consolidate certain legal entities. This guidance is effective for annual and interim periods beginning after December 15, 2015, and early adoption is permitted. The guidance should be applied either using a modified retrospective approach or retrospectively. The Company adopted this standard on January 1, 2016, and the Company is currently assessing which implementation method it will apply and the impact its adoption will have on its financial position and results of operations. In June 2015, the FASB issued Accounting Standards Updates (“ASU”) 2015-10, “Technical Corrections and Improvements.” This ASU corrects for differences between original guidance and the Accounting Standards Codification (“ASC”) and makes minor improvements affecting several topics. The Company is currently in the process of evaluating this standard, but does not expect its adoption to have a material impact on its consolidated financial statements. The amendments in this Update will apply to all reporting entities within the scope of the affected accounting guidance. In July 2015, the FASB issued ASU 2015-11, “Inventory (Topic 330) - Simplifying the Measurement of Inventory.” The amendments in this Update do not apply to inventory that is measured using last-in, first-out (LIFO) or the retail inventory method. The amendments apply to all other inventory, which includes inventory that is measured using first-in, first-out (FIFO) or average cost. An entity should measure inventory within the scope of this Update 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. The amendments in this Update more closely align the measurement of inventory in GAAP with the measurement of inventory in International Financial Reporting Standards (IFRS). For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The Company is currently in the process of evaluating this standard, but does not expect its adoption to have a material impact on its consolidated financial statements. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date. This amendment defers the effective date of the previously issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), until the interim and annual reporting periods beginning after December 15, 2017. Earlier application is permitted for interim and annual reporting periods beginning after December 15, 2016. The Company is evaluating the effect of this standard on its consolidated financial position, results of operations and cash flows. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments, which eliminates the requirement to retrospectively account for changes to provisional amounts initially recorded in a business acquisition opening balance sheet. Prior to the issuance of ASU 2015-16, an acquirer was required to restate prior period financial statements as of the acquisition date for adjustments to provisional amounts. This guidance is effective for fiscal years beginning after December 15, 2015, including interim periods within fiscal years. The Company does not expect this update will have a material impact on its consolidated financial position, results of operations and cash flows. In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes intended to improve how deferred taxes are classified on companies' balance sheets. ASU 2015-17 eliminates the current requirement for companies to present deferred tax liabilities and assets as current and non-current in a classified balance sheet. Instead, companies will be required to classify all deferred tax assets and liabilities as non-current. The amendments apply to all organizations that present a classified balance sheet. For public companies, the amendments are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company does not expect this update will have a material impact on its consolidated financial position. In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)" to increase the transparency and comparability about leases among entities. The new guidance requires lessees to recognize a lease liability and a corresponding lease asset for virtually all lease contracts. It also requires additional disclosures about leasing arrangements. ASU 2016-02 is effective for interim and annual periods beginning after December 15, 2018, and requires a modified retrospective approach to adoption. Early adoption is permitted. The Company is currently evaluating the impact of this new standard on its consolidated financial statements and related disclosures. |
Accounts receivable
Accounts receivable | 12 Months Ended |
Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |
Financing Receivables [Text Block] | Note 3 Accounts receivable December 31, December 31, 2015 2014 Accounts receivable $ 41,709,235 $ 43,875,479 Allowance for doubtful accounts (1,224,364) (307,710) Accounts receivable, net $ 40,484,871 $ 43,567,769 Approximately 30 12.4 Years ended December 31, 2015 2014 Balance at beginning of year $ 307,710 $ 1,659,281 Addition to doubtful accounts expense 1,033,782 191,578 Deduction collection of doubtful accounts (106,246) (1,536,464) Translation adjustments (10,882) (6,685) Balance at end of year $ 1,224,364 $ 307,710 |
Inventory
Inventory | 12 Months Ended |
Dec. 31, 2015 | |
Inventory Disclosure [Abstract] | |
Inventory Disclosure [Text Block] | Note 4 Inventory Inventory consisted of the following: December 31, December 31, 2015 2014 Raw materials $ 539,704 $ 569,103 Finished products 533,831 580,689 Work in process 173,943 189,510 Subtotal 1,247,478 1,339,302 Inventory reserve (150,430) - Total $ 1,097,048 $ 1,339,302 Inventory includes raw materials, packaging materials and finished goods. Finished goods include direct material costs, direct labor costs and manufacturing overhead. |
Advances to suppliers, net
Advances to suppliers, net | 12 Months Ended |
Dec. 31, 2015 | |
Advances to suppliers, net [Abstract] | |
Advances to suppliers, net [Text Block] | Note 5 Advances to suppliers, net December 31, December 31, 2015 2014 Advances to Suppliers $ 15,904,023 $ 10,967,390 Allowance for doubtful accounts (306,915) (333,110) Advances to Suppliers, net $ 15,597,108 $ 10,634,280 Advances to Suppliers represent prepayments made to assure continuous supply, high quality and favorable payment terms. Years ended December 31, 2015 2014 Balance at beginning of year $ 333,110 $ 138,834 Addition to doubtful accounts expense 35,355 252,952 Deduction utilization or return of advances (46,042) (58,117) Translation adjustments (15,508) (559) Balance at end of year $ 306,915 $ 333,110 |
Intangible assets, net
Intangible assets, net | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets Disclosure [Text Block] | Note 6 Intangible assets, net December 31, December 31, 2015 2014 Software $ 752,101 $ 795,050 Land use rights 1,988,087 2,101,619 Total 2,740,188 2,896,669 Less: Accumulated amortization (637,681) (474,248) Intangible assets, net $ 2,102,507 $ 2,422,421 There is no private ownership of land in China. Land is usually owned by the local government and the government grants land use rights for specified terms. The Company acquired two land use rights from the local government in December 2002 and September 2008 for periods of 50 1,669,445 1,806,812 The land use rights are amortized over fifty years and the software is amortized over 5 197,026 216,086 200,000 |
Property, plant and equipment,
Property, plant and equipment, net | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | Note 7 Property, plant and equipment, net December 31, December 31, 2015 2014 Building $ 12,776,709 $ 13,506,334 Machinery and Production equipment 2,982,759 2,964,189 Electronic equipment 251,508 246,595 Office equipment 50,294 52,509 Automobiles 227,094 280,396 Subtotal 16,288,364 17,050,023 Accumulated depreciation (5,169,729) (4,247,091) Total $ 11,118,635 $ 12,802,932 Depreciation expense was $ 1,244,154 1,290,857 |
Deposit for asset acquisition
Deposit for asset acquisition | 12 Months Ended |
Dec. 31, 2015 | |
Deposit Assets [Abstract] | |
Deposit for asset acquisition [Text Block] | Note 8 Deposit for asset acquisition The Company made several deposits for the right to use multiple patents in the production of batteries as well as for purchase of certain equipment. As of December 31, 2015, the outstanding balance of $ 2,465,600 2,003,300 462,300 As of March 31, 2016, deposit of $ 1,541,000 As of December 31, 2014, the balance of $ 3,707,702 2,117,700 1,101,302 488,700 |
Deposit for business acquisitio
Deposit for business acquisition | 12 Months Ended |
Dec. 31, 2015 | |
Deposits [Abstract] | |
Deposits [Text Block] | Note 9 Deposit for business acquisition In December 2015, the Company entered into a framework agreement with Suzhou E Motors Co., Ltd. (“Suzhou E Motors”), a specialty electric vehicles manufacturer based in Zhangjiagang City, Jiangsu Province, China, to acquire 100 Pursuant to a framework agreement, the Company made a deposit of RMB 50,000,000 7,705,000 |
Short-term bank loans
Short-term bank loans | 12 Months Ended |
Dec. 31, 2015 | |
Loans Payable [Member] | |
Short-term Debt [Line Items] | |
Short-term Debt [Text Block] | No On January 8, 2014, the Company entered into a loan agreement with Bank of China, Lishui Branch to borrow RMB 13 2,117,700 6.9 On May 13, 2015, the Company entered into a new loan agreement with Bank of China, Lishui Branch to borrow RMB 14.8 2,280,680 6.9 On August 17, 2015, Tantech Bamboo entered into a new loan agreement with Shanghai Pudong Development Bank, Lishui Branch to borrow RMB 20 3,082,000 6.305 On December 16, 2015, Tantech Bamboo entered into a new loan agreement with Bank of China, Lishui Branch to borrow RMB 20 3,082,000 5.66 |
Accrued liabilities and Other P
Accrued liabilities and Other Payable | 12 Months Ended |
Dec. 31, 2015 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | Note 11 Accrued Liabilities and Other Payable December 31, December 31, Accrued expenses $ 312,172 $ 82,656 Salaries and employee benefits payable 248,564 99,120 Other payable 497,424 188,435 Total $ 1,058,160 $ 370,211 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Note 12 Commitments and Contingencies Guaranty provided for related party The Company provided a guaranty on behalf of Forasen Group’s bank loan of RMB 20,000,000 3,082,000 35,100,000 5,408,910 7.6 |
Stockholders' equity
Stockholders' equity | 12 Months Ended |
Dec. 31, 2015 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | Note 13 Stockholders’ equity Stock split On November 25, 2014, the Company completed a 1,000-for-1 30,000,000 IPO On March 18, 2015, the Security Exchange Commission (“SEC”) declared effective the Company’s registration statement on Form F-1 (“IPO Registration Statement”). Pursuant to this IPO Registration Statement, along with the accompanying prospectus, the Company registered an offering of 1,600,000 4.00 On March 24, 2015, the Company closed its initial public offering of 1,600,000 shares of common stock at a price of $4.00 per share for gross proceeds of $ 6.4 5.7 S-8 On April 13, 2015, the Company filed Form S-8 with SEC to register 1,200,000 1,200,000 1,100,000 176,660 On July 23, 2015, the Company filed Form S-8 with SEC to register 400,000 400,000 200,000 32,120 Statutory reserve The Company is required to make appropriations to certain reserve funds, comprising the statutory surplus reserve and the discretionary surplus reserve, based on after-tax net income determined in accordance with generally accepted accounting principles of the PRC (“PRC GAAP”). Appropriations to the statutory surplus reserve are required to be at least 10% of the after-tax net income determined in accordance with PRC GAAP until the reserve is equal to 50% of the entity’s registered capital. Appropriations to the discretionary surplus reserve are made at the discretion of the Board of Directors. The statutory surplus reserve fund is non-discretionary other than during liquidation and can be used to fund previous years’ losses, if any, and may be utilized for business expansion or converted into share capital by issuing new shares to existing shareholders in proportion to their shareholding or by increasing the par value of shares currently held by them, provided the remaining statutory surplus reserve balance after such issue is not less than 25 Pursuant to the Company’s articles of incorporation, the Company is to appropriate 50 The Company made appropriations of $ 1,023,598 1,375,990 |
Taxes
Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Taxes [Abstract] | |
Taxes Disclosure [Text Block] | Note 14 Taxes Taxes Payable December 31, December 31, 2015 2014 VAT tax payable $ - $ 568,515 Corporation income tax payable 687,745 1,543,294 Other tax payable 116,525 160,297 Total $ 804,270 $ 2,272,106 Corporation Income Tax (“CIT”) Tantech BVI was incorporated in the BVI and is not subject to income taxes under the current laws of BVI. USCNHK is a holding company registered in Hong Kong and has no operating profit for tax liabilities. Tantech Bamboo was registered in the PRC and is subject to corporate income tax at unified rate of 15 Tantech Energy was registered in the PRC and is subject to corporate income tax at unified rate of 15 Tantech Charcoal is subject to corporate income tax at unified rate of 25 Tantech Babiku is subject to corporate income tax at unified rate of 25 Year ended December 31, 2015 2014 Statutory PRC income tax rate 25 % 25 % Favorable tax rate impact (a) (12) % (10) % Permanent difference 5 % 1 % Changes of deferred tax assets allowances 3 % - Total 21 % 16 % (a) Two of the Company’s subsidiaries, Tantech Bamboo and Tantech Energy are subject to tax rate of 15%. Years ended December 31, 2015 2014 Current $ 2,377,715 $ 2,524,901 Deferred - 329,588 Total $ 2,377,715 $ 2,854,489 December 31, 2015 2014 Allowance for doubtful accounts and other reserves $ 324,053 $ 140,226 Accumulated depreciation 72,834 26,109 Valuation allowance (396,887) - Total $ - $ 166,335 |
Major customers and suppliers
Major customers and suppliers | 12 Months Ended |
Dec. 31, 2015 | |
Risks and Uncertainties [Abstract] | |
Concentration Risk Disclosure [Text Block] | Note 15 Major customers and suppliers For the year ended December 31, 2015, two major customers accounted for approximately 17 12 16 10 As of December 31, 2015, two customers accounted for approximately 19 11 As of December 31, 2014, one customer accounted for approximately 12 For the year ended December 31, 2015, three major suppliers accounted for approximately 30 18 13 37 25 11 |
Segment information
Segment information | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | Note 16 Segment information The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. Management, including the chief operating decision maker, reviews operation results by the revenue of consumer products, trading and biofuel energy products. As such, the Company has determined that it has three operating segments as defined by ASC 280, “Segment Reporting”: consumer products, trading and biofuel energy. Consumer products segment manufactures and sells Charcoal Doctor branded products and BBQ charcoal in China. Trading segment conducts rubber and other trading businesses. Biofuel energy segment produces and sells BBQ charcoal to customers in Asia, Europe and North America and produces and sells bamboo-based fuel for Electric Double Layer Capacitor. Adjustments and eliminations of inter-company transactions were not included in determining segment (loss) profit, as they are not used by the chief operating decision maker. Consumer product Trading Biofuel Energy Total 2015 2014 2015 2014 2015 2014 2015 2014 Revenue from external customers $ 43,235,065 $ 53,051,808 $ 3,579,471 $ 2,999,463 $ 12,015,364 $ 9,441,835 $ 58,829,900 $ 65,493,106 Revenue from intersegment 736,527 1,073,530 11,988 - 554,251 759,752 1,302,766 1,833,282 Cost of revenue 28,618,875 34,824,870 3,463,818 2,936,503 9,864,991 7,091,621 41,947,684 44,852,994 Gross profit 14,616,190 18,226,938 115,653 62,960 2,150,373 2,350,214 16,882,216 20,640,112 Interest Expenses 324,643 295,204 85,828 150,685 1,622 88,341 412,093 534,230 Depreciation & amortization 478,400 508,607 72,715 79,293 890,065 919,043 1,441,180 1,506,943 Segment profit 10,235,984 13,759,901 (734,126) 178,931 256,704 778,830 9,758,562 14,717,662 Segment assets $ 72,302,734 $ 64,878,256 $ 2,071,215 $ 6,760,386 $ 7,738,850 $ 7,069,952 $ 82,112,799 $ 78,708,594 Barbecue Barbecue Purification & Charcoal Charcoal - Cleaning Deodorization domestic Trading EDLC Carbon international Total Year ended December 31, 2015 Revenue $ 2,333,883 $ 32,548,426 $ 8,352,756 $ 3,579,471 $ 11,387,102 $ 628,262 $ 58,829,900 Year ended December 31, 2014 Revenue $ 2,277,143 $ 37,475,537 $ 13,299,128 $ 2,999,463 $ 8,630,296 $ 811,539 $ 65,493,106 Year ended December 31, 2015 2014 Revenue from China Sources $ 58,129,408 $ 64,217,607 Revenue directly from foreign countries 700,492 1,275,499 Total Revenue $ 58,829,900 $ 65,493,106 Approximately $ 58.1 99 Chinese domestic sources. However, approximately $ 13.3 23 75 25 |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | Note 17 Subsequent events On August 19, 2015, the Board of Directors of the Company authorized USCNHK to form a wholly-owned subsidiary, Lishui Tantech Energy Tech Co., Ltd. (“Lishui Tantech”). On April 7, 2016, Lishui Tantech was registered in Lishui, China under the PRC law. On March 1, 2016, Tantech Holdings Ltd. (“Tantech”) entered into a securities purchase agreement (the “Securities Purchase Agreement”), pursuant to which Tantech agreed to sell securities to various purchasers (the “Purchasers”) in a private placement transaction (the “Private Placement”). The Private Placement closed on March 1, 2016. Pursuant to the Securities Purchase Agreement, Tantech agrees to transfer, assign, set over and deliver to the Purchasers and the Purchasers agree, severally and not jointly, to acquire from the Tantech in the aggregate 1,693,000 4.70 7,957,100 23,293,000 |
Summary of significant accoun25
Summary of significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principal of Consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). The consolidated financial statements include the financial statements of Tantech BVI and its subsidiaries, USCNHK, Tantech Bamboo as well as Tantech Bamboo’s wholly owned subsidiaries, Tantech Charcoal, Tantech Energy and Tantech Babiku (collectively, the “Company”). All significant inter-company balances and transactions are eliminated upon consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates In preparing the consolidated financial statements in conformity with US GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dates of the consolidated financial statements, as well as the reported amounts of revenues and expenses during the reporting year. Significant items subject to such estimates and assumptions include the useful lives of property and equipment; allowances pertaining to the allowance for doubtful accounts and advances to related parties and suppliers; the valuation of inventories; and the realizability of deferred tax assets. |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value of Financial Instruments The Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 820, “Fair Value Measurements”, defines fair value, establishes a three-level valuation hierarchy for fair value measurements and enhances disclosure requirements. The three levels are defined as follows: Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted market prices for identical or similar assets in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3 - inputs to the valuation methodology are unobservable. Unless otherwise disclosed, the fair value of the Company’s financial instruments including cash, restricted cash, accounts receivable, advances to suppliers, accounts payable, customer deposits, accrued expenses, short term bank loans and bank acceptance notes payable approximates their recorded values due to their short-term maturities. |
Cash and Cash Equivalents, Unrestricted Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and cash equivalents For purposes of the statements of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less and money market accounts to be cash equivalents. All cash balances are in bank accounts in PRC and Hong Kong and are not insured by the Federal Deposit Insurance Corporation or other programs. |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restricted Cash Restricted cash represents required cash deposits as a part of collateral for bank acceptance notes payable and letters of credit. The Company is required to maintain 50 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of credit risk Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash, trade accounts receivable and advances to suppliers. All of the Company’s cash is maintained with banks within the People’s Republic of China and Hong Kong of which no deposits are covered by insurance. The Company has not experienced any losses in such accounts. A significant portion of the Company's sales are credit sales which are primarily to customers whose ability to pay is dependent upon the industry economics prevailing in these areas. The Company also makes cash advances to certain suppliers to ensure the stable supply of key raw materials. The Company performs ongoing credit evaluations of its customers and key suppliers to help further reduce credit risk. |
Trade and Other Accounts Receivable, Policy [Policy Text Block] | Accounts receivable Accounts receivable are presented net of an allowance for doubtful accounts. The Company maintains an allowance for doubtful accounts for estimated losses. The Company reviews its accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances, the Company considers many factors, including the age of the balance, customer’s historical payment history, its current credit-worthiness and current economic trends. Accounts are written off after efforts at collection prove unsuccessful. |
Inventory, Policy [Policy Text Block] | Inventory The Company values its inventories at the lower of cost, determined on a weighted average basis, or market. The Company reviews its inventories periodically to determine if any reserves are necessary for potential obsolescence or if a write-down is necessary if the carrying value exceeds net realizable value. |
Advances To Suppliers [Policy Text Block] | Advances to Suppliers In order to ensure a steady supply of raw materials, the Company is required from time to time to make cash advances when placing its purchase orders. The Company reviews its advances to suppliers on a periodic basis and makes general and specific allowances when there is doubt as to the ability of a supplier to refund an advance to the Company. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment and Construction in Progress Property and equipment are stated at cost less accumulated depreciation. The cost of an asset comprises its purchase price and any directly attributable costs of bringing the asset to its present working condition and location for its intended use. Depreciation is computed on a straight-line basis over the estimated useful lives of the related assets. Buildings 20 years Machinery and equipment 5-10 years Transportation equipment 4 years Office equipment 4 - 5 years Electronic equipment 3 years Repairs and maintenance costs are normally charged to earnings in the year in which they are incurred. In situations where it can be clearly demonstrated that the expenditure has resulted in an increase in the future economic benefits expected to be obtained from the use of the asset, the expenditure is capitalized as an additional cost of the asset. Construction in progress includes direct costs of construction or acquisition of equipment, interest expense associated with the loans used for the construction and design fees incurred. Capitalization of these costs ceases and the construction in progress is transferred to plant and equipment when substantially all the activities necessary to prepare the assets for their intended use are completed. No depreciation is provided until it is completed and ready for its intended use. |
Customer Deposits [Policy Text Block] | Customer Deposits Customer deposits represent amounts received from customers in advance of shipments relating to the sales of the Company’s products. |
Non Controlling Interest [Policy Text Block] | Non-controlling interest Non-controlling interest represents the minority stockholders’ proportionate share of 5 |
Seasonality [Policy Text Block] | Seasonality The Company’s sales have seasonality, with low sales volume in January and February, and high sales volume in November and December. The sales between March and September do not follow any seasonal pattern. The seasonality is mainly due to China’s biggest sales season of the year, the Spring Festival, which usually falls between January and February. Before the Spring Festival, supermarkets usually increase their purchases to prepare for the holiday sale. The Company’s main customers are supermarkets chain stores, who also increase purchases from the Company in November and December in preparation for the annual sale. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition The Company recognizes revenues under FAS Codification Topic 605 (“ASC 605”). Revenue is recognized when all of the following have occurred: (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred or services have been rendered, (iii) the price is fixed or determinable, and (iv) the ability to collect is reasonably assured. These criteria are generally satisfied by the Company at the time of delivery for sales, which is the point when risk of loss and title passes to the customer. The delivery of goods either occurs when (a) goods leave the Company’s warehouse or production facilities or (b) goods are delivered and accepted by customer, usually at a location outside the Company. For sales under free on board (“FOB”) warehouse or production facilities term, the Company recognizes revenue when product leaves the Company’s warehouse or production facility. Product delivery is evidenced by warehouse shipping log as well as signed shipping bills from the shipping company. For sales under FOB destination term, the Company recognizes revenue when product is delivered and accepted by customer. Product delivery is evidenced by signed receipt document upon delivery. Revenue recognized under such method accounted for approximately 68% and 70 Under both cases, the risk of loss and/or title of goods have been passed to customer at the time of delivery. The Company does not recognize any revenue for any sale arrangements that do not transfer title and/or risk of loss. The Company’s sales cutoff for both methods is evidenced by the receipt of goods delivery either signed by the shipping company or the customer acknowledging the receipt of goods. Such document is used as the proof of transfer of title and/or risk of loss. Revenue is reported net of all value added taxes. The Company does not routinely permit customers to return products and historically, customer returns have been immaterial. |
Cost of Sales, Policy [Policy Text Block] | Cost of revenues Cost of revenues includes cost of raw materials purchased, inbound freight cost, cost of direct labor, depreciation expense and other overhead. Cost of revenues also includes the cost of raw materials and utility purchased from related parties. Write-down of inventory for lower of cost or market adjustments is also recorded in cost of revenues. |
Subsidy Income [Policy Text Block] | Subsidy Income The Company periodically receives various government grants such as “High Technology Projects Subsidy” and “Scientific Research Grant”. There is no guarantee the Company will continue to receive such grants in the future. |
Other Income [Policy Text Block] | Other Income Other income was primarily related to the consulting fee that the Company charged a third party using a Company’s patent in the production of doors with air treatment functionality. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Translation The Company’s financial information is presented in U.S. dollars. The functional currency of the Company’s subsidiaries in the PRC is the RMB, the currency of the PRC. Any subsidiary transactions, which are denominated in currencies other than RMB, are translated into RMB at the exchange rate quoted by the People’s Bank of China prevailing at the dates of the transactions, and exchange gains and losses are included in the statements of operations as foreign currency transaction gain or loss. The consolidated financial statements of the Company have been translated into U.S. dollars in accordance with ASC 830, “Foreign Currency Matters”. The financial information is first prepared in RMB and then is translated into U.S. dollars at period-end exchange rates for assets and liabilities and average exchange rates for revenue and expenses. Capital accounts are translated at their historical exchange rates when the capital transactions occurred. The effects of foreign currency translation adjustments are included as a component of accumulated other comprehensive income in stockholders’ equity. Cash flows from the Company’s operations are calculated based upon the local currencies using the average translation rate. As a result, amounts related to assets and liabilities reported on the statements of cash flows will not necessarily agree with changes in the corresponding balances on the balance sheets. The exchange rates in effect as of December 31, 2015 and 2014 were RMB 1 for $ 0.1541 0.1629 0.1606 0.1628 |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Comprehensive income consists of two components, net income and other comprehensive income. Other comprehensive income refers to revenue, expenses, gains and losses that under GAAP are recorded as an element of shareholder’s equity but are excluded from net income. Other comprehensive income consists of foreign currency translation adjustment from those subsidiaries not using the U.S. dollar as their functional currency. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company’s subsidiaries in China are subject to the income tax laws of the PRC. No taxable income was generated outside the PRC for the years ended December 31, 2015 and 2014. The Company accounts for income taxes in accordance with ASC 740, “Income Taxes”. ASC 740 requires an asset and liability approach for financial accounting and reporting for income taxes and allows recognition and measurement of deferred tax assets based upon the likelihood of realization of tax benefits in future years. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or future deductibility is uncertain. ASC 740-10-25 prescribes a more-likely-than-not threshold for financial statement recognition and measurement of a tax position taken (or expected to be taken) in a tax return. It also provides guidance on the recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, years open for tax examination, accounting for income taxes in interim periods and income tax disclosures. There were no material uncertain tax positions as of December 31, 2015 and 2014. All tax returns since the Company’s inception are subject to examination by tax authorities. |
Value Added Tax [Policy Text Block] | Value Added Tax (“VAT”) The Company is subject to VAT for selling merchandise. The applicable VAT rate is 13% or 17% (depending on the type of goods involved) for products sold in the PRC. |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Share The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share” (“ASC 260”), and SEC Staff Accounting Bulletin No. 98 (“SAB 98”). ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. |
Statement Of Cash Flows [Policy Text Block] | Statement of Cash Flows In accordance with ASC 230, “Statement of Cash Flows,” cash flows from the Company’s operations are calculated based upon the local currencies. As a result, amounts related to assets and liabilities reported on the statements of cash flows will not necessarily agree with changes in the corresponding balances on the balance sheets. |
Risks And Uncertainties [Policy Text Block] | Risks and Uncertainties The operations of the Company are located in the PRC. Accordingly, the Company’s business, financial condition, and results of operations may be influenced by the political, economic, and legal environments in the PRC, in addition to the general state of the PRC economy. The Company’s results may be adversely affected by changes in the political and social conditions in the PRC, and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things. The Company’s sales, purchases and expense transactions are denominated in RMB, and all of the Company’s assets and liabilities are also denominated in RMB. The RMB is not freely convertible into foreign currencies under the current law. In China, foreign exchange transactions are required by law to be transacted only by authorized financial institutions at exchange rates set by the People’s Bank of China, the central bank of China. Remittances in currencies other than RMB may require certain supporting documentation in order to effect the remittance. The Company does not carry any business interruption insurance, products liability insurance or any other insurance policy except for a limited property insurance policy. As a result, the Company may incur uninsured losses, increasing the possibility that investors would lose their entire investment in the Company. |
Research and Development Expense, Policy [Policy Text Block] | Research and development costs Research and development costs are expensed to operations as incurred. |
Shipping and Handling Cost, Policy [Policy Text Block] | Shipping and handling costs All shipping and handling costs are expensed as incurred and included in selling expenses. Total shipping and handling expenses were $ 222,782 299,797 |
Advertising Costs, Policy [Policy Text Block] | Advertising expense Advertising expenses included in selling expenses were $ 25,999 860 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent accounting pronouncements In February 2015, the Financial Accounting Standards Board (“FASB”) issued new guidance for evaluating whether a reporting organization should consolidate certain legal entities. This guidance is effective for annual and interim periods beginning after December 15, 2015, and early adoption is permitted. The guidance should be applied either using a modified retrospective approach or retrospectively. The Company adopted this standard on January 1, 2016, and the Company is currently assessing which implementation method it will apply and the impact its adoption will have on its financial position and results of operations. In June 2015, the FASB issued Accounting Standards Updates (“ASU”) 2015-10, “Technical Corrections and Improvements.” This ASU corrects for differences between original guidance and the Accounting Standards Codification (“ASC”) and makes minor improvements affecting several topics. The Company is currently in the process of evaluating this standard, but does not expect its adoption to have a material impact on its consolidated financial statements. The amendments in this Update will apply to all reporting entities within the scope of the affected accounting guidance. In July 2015, the FASB issued ASU 2015-11, “Inventory (Topic 330) - Simplifying the Measurement of Inventory.” The amendments in this Update do not apply to inventory that is measured using last-in, first-out (LIFO) or the retail inventory method. The amendments apply to all other inventory, which includes inventory that is measured using first-in, first-out (FIFO) or average cost. An entity should measure inventory within the scope of this Update 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. The amendments in this Update more closely align the measurement of inventory in GAAP with the measurement of inventory in International Financial Reporting Standards (IFRS). For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The Company is currently in the process of evaluating this standard, but does not expect its adoption to have a material impact on its consolidated financial statements. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date. This amendment defers the effective date of the previously issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), until the interim and annual reporting periods beginning after December 15, 2017. Earlier application is permitted for interim and annual reporting periods beginning after December 15, 2016. The Company is evaluating the effect of this standard on its consolidated financial position, results of operations and cash flows. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments, which eliminates the requirement to retrospectively account for changes to provisional amounts initially recorded in a business acquisition opening balance sheet. Prior to the issuance of ASU 2015-16, an acquirer was required to restate prior period financial statements as of the acquisition date for adjustments to provisional amounts. This guidance is effective for fiscal years beginning after December 15, 2015, including interim periods within fiscal years. The Company does not expect this update will have a material impact on its consolidated financial position, results of operations and cash flows. In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes intended to improve how deferred taxes are classified on companies' balance sheets. ASU 2015-17 eliminates the current requirement for companies to present deferred tax liabilities and assets as current and non-current in a classified balance sheet. Instead, companies will be required to classify all deferred tax assets and liabilities as non-current. The amendments apply to all organizations that present a classified balance sheet. For public companies, the amendments are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company does not expect this update will have a material impact on its consolidated financial position. In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)" to increase the transparency and comparability about leases among entities. The new guidance requires lessees to recognize a lease liability and a corresponding lease asset for virtually all lease contracts. It also requires additional disclosures about leasing arrangements. ASU 2016-02 is effective for interim and annual periods beginning after December 15, 2018, and requires a modified retrospective approach to adoption. Early adoption is permitted. The Company is currently evaluating the impact of this new standard on its consolidated financial statements and related disclosures. |
Summary of significant accoun26
Summary of significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property Plant And Equipment Useful Life [Table Text Block] | The estimated useful lives for significant property and equipment are as follows: Buildings 20 years Machinery and equipment 5-10 years Transportation equipment 4 years Office equipment 4 - 5 years Electronic equipment 3 years |
Accounts receivable (Tables)
Accounts receivable (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Accounts receivable consisted of the following: December 31, December 31, 2015 2014 Accounts receivable $ 41,709,235 $ 43,875,479 Allowance for doubtful accounts (1,224,364) (307,710) Accounts receivable, net $ 40,484,871 $ 43,567,769 |
Accounts Receivable [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Schedule of Allowance For Doubtful Accounts [Table Text Block] | An analysis of the allowance for doubtful accounts for the years ended December 31, 2015 and 2014 is as follows: Years ended December 31, 2015 2014 Balance at beginning of year $ 307,710 $ 1,659,281 Addition to doubtful accounts expense 1,033,782 191,578 Deduction collection of doubtful accounts (106,246) (1,536,464) Translation adjustments (10,882) (6,685) Balance at end of year $ 1,224,364 $ 307,710 |
Inventory (Tables)
Inventory (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory, Current [Table Text Block] | Inventory consisted of the following: December 31, December 31, 2015 2014 Raw materials $ 539,704 $ 569,103 Finished products 533,831 580,689 Work in process 173,943 189,510 Subtotal 1,247,478 1,339,302 Inventory reserve (150,430) - Total $ 1,097,048 $ 1,339,302 |
Advances to suppliers, net (Tab
Advances to suppliers, net (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Advances to suppliers, net [Line Items] | |
Schedule Of Advances To Suppliers [Table Text Block] | Advances to Suppliers consisted of the following: December 31, December 31, 2015 2014 Advances to Suppliers $ 15,904,023 $ 10,967,390 Allowance for doubtful accounts (306,915) (333,110) Advances to Suppliers, net $ 15,597,108 $ 10,634,280 |
Advances To Suppliers [Member] | |
Advances to suppliers, net [Line Items] | |
Schedule of Allowance For Doubtful Accounts [Table Text Block] | An analysis of the allowance for doubtful accounts for the years ended December 31, 2015 and 2014 is as follows: Years ended December 31, 2015 2014 Balance at beginning of year $ 333,110 $ 138,834 Addition to doubtful accounts expense 35,355 252,952 Deduction utilization or return of advances (46,042) (58,117) Translation adjustments (15,508) (559) Balance at end of year $ 306,915 $ 333,110 |
Intangible assets, net (Tables)
Intangible assets, net (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | December 31, December 31, 2015 2014 Software $ 752,101 $ 795,050 Land use rights 1,988,087 2,101,619 Total 2,740,188 2,896,669 Less: Accumulated amortization (637,681) (474,248) Intangible assets, net $ 2,102,507 $ 2,422,421 |
Property, plant and equipment31
Property, plant and equipment, net (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | Property, plant and equipment stated at cost less accumulated depreciation consisted of the following: December 31, December 31, 2015 2014 Building $ 12,776,709 $ 13,506,334 Machinery and Production equipment 2,982,759 2,964,189 Electronic equipment 251,508 246,595 Office equipment 50,294 52,509 Automobiles 227,094 280,396 Subtotal 16,288,364 17,050,023 Accumulated depreciation (5,169,729) (4,247,091) Total $ 11,118,635 $ 12,802,932 |
Accrued liabilities and other32
Accrued liabilities and other payable (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Payables and Accruals [Abstract] | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | Accrued liabilities and other payable as of December 31, 2015 and December 31, 2014 consist of the following: December 31, December 31, Accrued expenses $ 312,172 $ 82,656 Salaries and employee benefits payable 248,564 99,120 Other payable 497,424 188,435 Total $ 1,058,160 $ 370,211 |
Taxes (Tables)
Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Taxes [Abstract] | |
Schedule Of Taxes Payable [Table Text Block] | Taxes payable as of December 31, 2015 and December 31, 2014 consist of the following: December 31, December 31, 2015 2014 VAT tax payable $ - $ 568,515 Corporation income tax payable 687,745 1,543,294 Other tax payable 116,525 160,297 Total $ 804,270 $ 2,272,106 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The following table reconciles PRC statutory rates to the Company’s effective tax rates for the years ended December 31, 2015 and 2014: Year ended December 31, 2015 2014 Statutory PRC income tax rate 25 % 25 % Favorable tax rate impact (a) (12) % (10) % Permanent difference 5 % 1 % Changes of deferred tax assets allowances 3 % - Total 21 % 16 % (a) Two of the Company’s subsidiaries, Tantech Bamboo and Tantech Energy are subject to tax rate of 15%. |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The provision for income tax consists of the following: Years ended December 31, 2015 2014 Current $ 2,377,715 $ 2,524,901 Deferred - 329,588 Total $ 2,377,715 $ 2,854,489 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Significant components of deferred tax assets are as follows: December 31, 2015 2014 Allowance for doubtful accounts and other reserves $ 324,053 $ 140,226 Accumulated depreciation 72,834 26,109 Valuation allowance (396,887) - Total $ - $ 166,335 |
Segment information (Tables)
Segment information (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | The following table presents summary information by segment for the years ended December 31, 2015 and 2014, respectively. Consumer product Trading Biofuel Energy Total 2015 2014 2015 2014 2015 2014 2015 2014 Revenue from external customers $ 43,235,065 $ 53,051,808 $ 3,579,471 $ 2,999,463 $ 12,015,364 $ 9,441,835 $ 58,829,900 $ 65,493,106 Revenue from intersegment 736,527 1,073,530 11,988 - 554,251 759,752 1,302,766 1,833,282 Cost of revenue 28,618,875 34,824,870 3,463,818 2,936,503 9,864,991 7,091,621 41,947,684 44,852,994 Gross profit 14,616,190 18,226,938 115,653 62,960 2,150,373 2,350,214 16,882,216 20,640,112 Interest Expenses 324,643 295,204 85,828 150,685 1,622 88,341 412,093 534,230 Depreciation & amortization 478,400 508,607 72,715 79,293 890,065 919,043 1,441,180 1,506,943 Segment profit 10,235,984 13,759,901 (734,126) 178,931 256,704 778,830 9,758,562 14,717,662 Segment assets $ 72,302,734 $ 64,878,256 $ 2,071,215 $ 6,760,386 $ 7,738,850 $ 7,069,952 $ 82,112,799 $ 78,708,594 |
Revenue from External Customers by Products and Services [Table Text Block] | Segment information by products for the years ended December 31, 2015 and 2014: Barbecue Barbecue Purification & Charcoal Charcoal - Cleaning Deodorization domestic Trading EDLC Carbon international Total Year ended December 31, 2015 Revenue $ 2,333,883 $ 32,548,426 $ 8,352,756 $ 3,579,471 $ 11,387,102 $ 628,262 $ 58,829,900 Year ended December 31, 2014 Revenue $ 2,277,143 $ 37,475,537 $ 13,299,128 $ 2,999,463 $ 8,630,296 $ 811,539 $ 65,493,106 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | All of the Company's long-lived assets are located in the PRC. Geographic information about the revenues, which are classified based on customers, is set out as follows: Year ended December 31, 2015 2014 Revenue from China Sources $ 58,129,408 $ 64,217,607 Revenue directly from foreign countries 700,492 1,275,499 Total Revenue $ 58,829,900 $ 65,493,106 |
Organization and nature of bu35
Organization and nature of business (Details Textual) $ in Millions | 1 Months Ended | |||||
Mar. 20, 2013USD ($) | Mar. 20, 2013CNY (¥) | Dec. 31, 2010USD ($) | Dec. 31, 2010CNY (¥) | Dec. 31, 2015 | Mar. 20, 2013CNY (¥) | |
Payments to Acquire Businesses, Gross | $ 18.5 | ¥ 115,520,000 | ||||
USCNHK [Member] | ||||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | |||||
Tantech Bamboo [Member] | ||||||
Noncontrolling Interest, Ownership Percentage by Parent | 95.00% | 95.00% | ||||
Business Combination, Consideration Transferred | $ 18.5 | ¥ 115,520,000 | ||||
Equity Method Investment, Ownership Percentage | 0.00% | 0.00% | 5.00% | |||
Mr. Zhengyu Wang [Member] | ||||||
Debt Instrument, Face Amount | $ 6.1 | ¥ 37,635,136 |
Summary of significant accoun36
Summary of significant accounting policies (Details) | 12 Months Ended |
Dec. 31, 2015 | |
Buildings [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 20 years |
Machinery and Equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 5 years |
Machinery and Equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 10 years |
Transportation Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 4 years |
Office Equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 4 years |
Office Equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 5 years |
Electronic Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 3 years |
Summary of significant accoun37
Summary of significant accounting policies (Details Textual) | 12 Months Ended | ||
Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2010 | |
Summary Of Significant Accounting Policies [Line Items] | |||
Restricted Cash Minimum Balance Maintain Percentage | 50.00% | ||
Foreign Currency Exchange Rate, Translation | 0.1541 | 0.1629 | |
Shipping, Handling and Transportation Costs | $ 222,782 | $ 299,797 | |
Advertising Expense | $ 25,999 | $ 860 | |
Value Added Tax Description | The Company is subject to VAT for selling merchandise. The applicable VAT rate is 13% or 17% (depending on the type of goods involved) for products sold in the PRC. | ||
Foreign Currency Average Exchange Rate Translation | 0.1606 | 0.1628 | |
Sales Revenue, Net [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Concentration Risk, Percentage | 68.00% | 70.00% | |
Tantech Bamboo [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Equity Method Investment, Ownership Percentage | 5.00% | 0.00% |
Accounts receivable (Details)
Accounts receivable (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable | $ 41,709,235 | $ 43,875,479 |
Allowance for doubtful accounts | (1,224,364) | (307,710) |
Accounts receivable, net | $ 40,484,871 | $ 43,567,769 |
Accounts receivable (Details 1)
Accounts receivable (Details 1) - Accounts Receivable [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Balance at beginning of year | $ 307,710 | $ 1,659,281 |
Addition to doubtful accounts expense | 1,033,782 | 191,578 |
Deduction - collection of doubtful accounts | (106,246) | (1,536,464) |
Translation adjustments | (10,882) | (6,685) |
Balance at end of year | $ 1,224,364 | $ 307,710 |
Accounts receivable (Details Te
Accounts receivable (Details Textual) - Accounts Receivable [Member] - Scenario, Forecast [Member] $ in Millions | 1 Months Ended |
Mar. 31, 2016USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Concentration Risk, Percentage | 30.00% |
Proceeds from Collection of Other Receivables | $ 12.4 |
Inventory (Details)
Inventory (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Inventory [Line Items] | ||
Raw materials | $ 539,704 | $ 569,103 |
Finished products | 533,831 | 580,689 |
Work in process | 173,943 | 189,510 |
Subtotal | 1,247,478 | 1,339,302 |
Inventory reserve | (150,430) | 0 |
Total | $ 1,097,048 | $ 1,339,302 |
Advances to suppliers, net (Det
Advances to suppliers, net (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Advances to suppliers, net [Line Items] | ||
Advances to Suppliers | $ 15,904,023 | $ 10,967,390 |
Allowance for doubtful accounts | (306,915) | (333,110) |
Advances to Suppliers, net | $ 15,597,108 | $ 10,634,280 |
Advances to suppliers, net (D43
Advances to suppliers, net (Details 1) - Advances To Suppliers [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Advances to suppliers, net [Line Items] | ||
Balance at beginning of year | $ 333,110 | $ 138,834 |
Addition to doubtful accounts expense | 35,355 | 252,952 |
Deduction - utilization or return of advances | (46,042) | (58,117) |
Translation adjustments | (15,508) | (559) |
Balance at end of year | $ 306,915 | $ 333,110 |
Intangible assets, net (Details
Intangible assets, net (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Finite-Lived Intangible Assets [Line Items] | ||
Total | $ 2,740,188 | $ 2,896,669 |
Less: Accumulated amortization | (637,681) | (474,248) |
Intangible assets, net | 2,102,507 | 2,422,421 |
Software [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total | 752,101 | 795,050 |
Land Use Rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total | $ 1,988,087 | $ 2,101,619 |
Intangible assets, net (Detai45
Intangible assets, net (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Finite-Lived Intangible Assets [Line Items] | ||
Amortization of Intangible Assets | $ 197,026 | $ 216,086 |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | $ 200,000 | |
Computer Software, Intangible Asset [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Remaining Amortization Period | 5 years | |
Land Use Rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Net (Excluding Goodwill) | $ 1,669,445 | $ 1,806,812 |
Finite-Lived Intangible Assets, Remaining Amortization Period | 50 years |
Property, plant and equipment46
Property, plant and equipment, net (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||
Subtotal | $ 16,288,364 | $ 17,050,023 |
Accumulated depreciation | (5,169,729) | (4,247,091) |
Total | 11,118,635 | 12,802,932 |
Building [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Subtotal | 12,776,709 | 13,506,334 |
Machinery and Production Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Subtotal | 2,982,759 | 2,964,189 |
Electronic Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Subtotal | 251,508 | 246,595 |
Office Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Subtotal | 50,294 | 52,509 |
Automobiles [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Subtotal | $ 227,094 | $ 280,396 |
Property, plant and equipment47
Property, plant and equipment, net (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Line Items] | ||
Depreciation | $ 1,244,154 | $ 1,290,857 |
Deposit for asset acquisition (
Deposit for asset acquisition (Details Textual) - USD ($) | 1 Months Ended | ||
Mar. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Deposit for asset acquisition [Line Items] | |||
Advance payments - non-current | $ 2,465,600 | $ 3,707,702 | |
Patents [Member] | Scenario, Forecast [Member] | |||
Deposit for asset acquisition [Line Items] | |||
Proceeds from Deposits with Other Institutions | $ 1,541,000 | ||
Payment For Utilization Of Patent [Member] | |||
Deposit for asset acquisition [Line Items] | |||
Advance payments - non-current | 2,003,300 | 2,117,700 | |
Payment For Purchase Of Equipment [Member] | |||
Deposit for asset acquisition [Line Items] | |||
Advance payments - non-current | $ 462,300 | 1,101,302 | |
Payment For Sponsored Research And Development Project [Member] | |||
Deposit for asset acquisition [Line Items] | |||
Advance payments - non-current | $ 488,700 |
Deposit for business acquisit49
Deposit for business acquisition (Details Textual) | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014USD ($) |
Deposits For Acquisition Of Assets [Line Items] | |||
Deposit For Acquisition Of Asset Non Current | $ 2,465,600 | $ 3,707,702 | |
Suzhou E Motors Co Ltd [Member] | |||
Deposits For Acquisition Of Assets [Line Items] | |||
Deposit For Acquisition Of Asset Non Current | $ 7,705,000 | ¥ 50,000,000 | |
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | 100.00% |
Short-term bank loans (Details
Short-term bank loans (Details Textual) ¥ in Millions | Dec. 31, 2015USD ($) | Dec. 16, 2015USD ($) | Dec. 16, 2015CNY (¥) | Aug. 17, 2015USD ($) | Aug. 17, 2015CNY (¥) | May 13, 2015USD ($) | May 13, 2015CNY (¥) | Dec. 31, 2014USD ($) | Jan. 08, 2014USD ($) | Jan. 08, 2014CNY (¥) |
Short-term Debt [Line Items] | ||||||||||
Short-term Bank Loans and Notes Payable | $ 8,444,680 | $ 2,280,680 | ¥ 14.8 | $ 2,117,700 | $ 2,117,700 | ¥ 13 | ||||
Tantech Bamboo [Member] | ||||||||||
Short-term Debt [Line Items] | ||||||||||
Short-term Bank Loans and Notes Payable | $ 3,082,000 | ¥ 20 | $ 3,082,000 | ¥ 20 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.66% | 5.66% | 6.305% | 6.305% | ||||||
Loans Payable [Member] | ||||||||||
Short-term Debt [Line Items] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.90% | 6.90% | 6.90% | 6.90% |
Accrued liabilities and Other51
Accrued liabilities and Other Payable (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Accrued expenses | $ 312,172 | $ 82,656 |
Salaries and employee benefits payable | 248,564 | 99,120 |
Other payables | 497,424 | 188,435 |
Total | $ 1,058,160 | $ 370,211 |
Commitments and Contingencies (
Commitments and Contingencies (Details Textual) - Forasen Group’s [Member] | Apr. 15, 2014USD ($) | Apr. 15, 2014CNY (¥) | Apr. 08, 2014USD ($) | Apr. 08, 2014CNY (¥) |
Commitments and Contingencies [Line Items] | ||||
Guaranty Liabilities | $ 3,082,000 | ¥ 20,000,000 | ||
Building Pledged As Collateral For Loans | $ 7,600,000 | |||
Renewable Bankers Acceptance Notes | $ 5,408,910 | ¥ 35,100,000 |
Stockholders' equity (Details T
Stockholders' equity (Details Textual) | 1 Months Ended | 12 Months Ended | |||||||
Nov. 30, 2015USD ($) | Nov. 30, 2015CNY (¥) | Jul. 31, 2015shares | Jun. 30, 2015shares | Mar. 31, 2015USD ($)$ / sharesshares | Nov. 25, 2014shares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)shares | Apr. 30, 2015shares | |
Minimum Registered Capital Before Conversion | 25.00% | ||||||||
Statutory Accounting Practices, Statutory Capital And Surplus Percentage | 50.00% | ||||||||
Statutory Accounting Practices, Statutory Capital and Surplus Required | $ | $ 1,023,598 | $ 1,375,990 | |||||||
Description Of Required Statutory Surplus Reserve | Appropriations to the statutory surplus reserve are required to be at least 10% of the after-tax net income determined in accordance with PRC GAAP until the reserve is equal to 50% of the entitys registered capital. Appropriations to the discretionary surplus reserve are made at the discretion of the Board of Directors. | ||||||||
Stockholders' Equity Note, Stock Split | 1,000-for-1 | ||||||||
Stock Repurchased During Period, Shares | 30,000,000 | ||||||||
Proceeds from Issuance of Common Stock | $ | $ 5,663,122 | $ 0 | |||||||
Common Stock, Shares Authorized | 50,000,000 | 50,000,000 | |||||||
IPO [Member] | |||||||||
Proceeds From Issuance of Common Stock Gross | $ | $ 6,400,000 | ||||||||
Stock Issued During Period, Shares, New Issues | 1,600,000 | ||||||||
Shares Issued, Price Per Share | $ / shares | $ 4 | ||||||||
Proceeds from Issuance of Common Stock | $ | $ 5,700,000 | ||||||||
Form S-8 [Member] | |||||||||
Stock Issued During Period, Shares, Issued for Services | 1,200,000 | ||||||||
Share Incentive Plan 2015 [Member] | Form S-8 [Member] | |||||||||
Common Stock, Shares Authorized | 1,200,000 | ||||||||
Strategic Planning And Compliance Operations Services [Member] | Share Incentive Plan 2015 [Member] | Form S-8 [Member] | |||||||||
Gain (Loss) on Contract Termination | $ 176,660 | ¥ 1,100,000 | |||||||
IT infrastructure initiatives [Member] | Share Incentive Plan 2015 [Member] | Form S-8 [Member] | |||||||||
Common Stock, Shares Authorized | 400,000 | ||||||||
Stock Issued During Period, Shares, Issued for Services | 400,000 | ||||||||
Gain (Loss) on Contract Termination | $ 32,120 | ¥ 200,000 |
Taxes (Details)
Taxes (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
VAT tax payable | $ 0 | $ 568,515 |
Corporation income tax payable | 687,745 | 1,543,294 |
Other tax payable | 116,525 | 160,297 |
Total | $ 804,270 | $ 2,272,106 |
Taxes (Details 1)
Taxes (Details 1) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | ||
Statutory PRC income tax rate | 25.00% | 25.00% | |
Effective Income Tax Rate Reconciliation Favorable Tax Rate Impact | [1] | (12.00%) | (10.00%) |
Permanent difference | 5.00% | 1.00% | |
Changes of deferred tax assets allowances | 3.00% | 0.00% | |
Total | 21.00% | 16.00% | |
[1] | Two of the Company's subsidiaries, Tantech Bamboo and Tantech Energy are subject to tax rate of 15%. |
Taxes (Details 2)
Taxes (Details 2) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Current | $ 2,377,715 | $ 2,524,901 |
Deferred | 0 | 329,588 |
Total | $ 2,377,715 | $ 2,854,489 |
Taxes (Details 3)
Taxes (Details 3) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Allowance for doubtful accounts and other reserves | $ 324,053 | $ 140,226 |
Accumulated depreciation | 72,834 | 26,109 |
Valuation allowance | (396,887) | 0 |
Total | $ 0 | $ 166,335 |
Taxes (Details Textual)
Taxes (Details Textual) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 25.00% | 25.00% |
Tantech Bamboo [Member] | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 15.00% | |
Tantech Energy [Member] | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 15.00% | |
Tantech Charcoal [Member] | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 25.00% | |
Tantech Babiku [Member] | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 25.00% |
Major customers and suppliers (
Major customers and suppliers (Details Textual) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Sales Revenue, Net [Member] | ||
Concentration Risk, Percentage | 68.00% | 70.00% |
Major Customer One [Member] | Sales Revenue, Net [Member] | ||
Concentration Risk, Percentage | 17.00% | 16.00% |
Major Customer One [Member] | Accounts Receivable [Member] | ||
Concentration Risk, Percentage | 19.00% | 12.00% |
Major Customer One [Member] | Cost of Goods, Total [Member] | ||
Concentration Risk, Percentage | 30.00% | 37.00% |
Major customer Two [Member] | Sales Revenue, Net [Member] | ||
Concentration Risk, Percentage | 12.00% | 10.00% |
Major customer Two [Member] | Accounts Receivable [Member] | ||
Concentration Risk, Percentage | 11.00% | |
Major customer Two [Member] | Cost of Goods, Total [Member] | ||
Concentration Risk, Percentage | 18.00% | 25.00% |
Major customer Three [Member] | Cost of Goods, Total [Member] | ||
Concentration Risk, Percentage | 13.00% | 11.00% |
Segment information (Details)
Segment information (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenues | $ 58,829,900 | $ 65,493,106 |
Cost of revenue | 41,947,684 | 44,852,994 |
Gross profit | 16,882,216 | 20,640,112 |
Interest Expenses | 411,805 | 534,230 |
Depreciation & amortization | 1,441,180 | 1,506,943 |
Segment profit | 8,926,753 | 14,716,884 |
Segment assets | 87,074,992 | 78,708,594 |
Consumer product [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Cost of revenue | 28,618,875 | 34,824,870 |
Gross profit | 14,616,190 | 18,226,938 |
Interest Expenses | 324,643 | 295,204 |
Depreciation & amortization | 478,400 | 508,607 |
Segment profit | 10,235,984 | 13,759,901 |
Segment assets | 72,302,734 | 64,878,256 |
Trading [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Cost of revenue | 3,463,818 | 2,936,503 |
Gross profit | 115,653 | 62,960 |
Interest Expenses | 85,828 | 150,685 |
Depreciation & amortization | 72,715 | 79,293 |
Segment profit | (734,126) | 178,931 |
Segment assets | 2,071,215 | 6,760,386 |
Biofuel Energy [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Cost of revenue | 9,864,991 | 7,091,621 |
Gross profit | 2,150,373 | 2,350,214 |
Interest Expenses | 1,622 | 88,341 |
Depreciation & amortization | 890,065 | 919,043 |
Segment profit | 256,704 | 778,830 |
Segment assets | 7,738,850 | 7,069,952 |
External customers [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenues | 58,829,900 | 65,493,106 |
External customers [Member] | Consumer product [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenues | 43,235,065 | 53,051,808 |
External customers [Member] | Trading [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenues | 3,579,471 | 2,999,463 |
External customers [Member] | Biofuel Energy [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenues | 12,015,364 | 9,441,835 |
Intersegment [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenues | 1,302,766 | 1,833,282 |
Intersegment [Member] | Consumer product [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenues | 736,527 | 1,073,530 |
Intersegment [Member] | Trading [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenues | 11,988 | 0 |
Intersegment [Member] | Biofuel Energy [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenues | $ 554,251 | $ 759,752 |
Segment information (Details 1)
Segment information (Details 1) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenue | $ 58,829,900 | $ 65,493,106 |
Cleaning [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenue | 2,333,883 | 2,277,143 |
Purification & Deodorization [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenue | 32,548,426 | 37,475,537 |
Barbecue Charcoal - domestic [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenue | 8,352,756 | 13,299,128 |
Trading [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenue | 3,579,471 | 2,999,463 |
EDLC Carbon [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenue | 11,387,102 | 8,630,296 |
Barbecue Charcoal - international [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenue | $ 628,262 | $ 811,539 |
Segment information (Details 2)
Segment information (Details 2) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenues | $ 58,829,900 | $ 65,493,106 |
China [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenues | 58,129,408 | 64,217,607 |
Foreign Countries [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenues | $ 700,492 | $ 1,275,499 |
Segment information (Details Te
Segment information (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Revenue, Major Customer [Line Items] | ||
Revenues | $ 58,829,900 | $ 65,493,106 |
CHINA | ||
Revenue, Major Customer [Line Items] | ||
Revenues | 58,129,408 | 64,217,607 |
Foreign Countries [Member] | ||
Revenue, Major Customer [Line Items] | ||
Revenues | $ 700,492 | $ 1,275,499 |
Sales Revenue, Net [Member] | ||
Revenue, Major Customer [Line Items] | ||
Concentration Risk, Percentage | 68.00% | 70.00% |
Sales Revenue, Net [Member] | CHINA | ||
Revenue, Major Customer [Line Items] | ||
Concentration Risk, Percentage | 99.00% | |
Sales Revenue, Net [Member] | Foreign Countries [Member] | ||
Revenue, Major Customer [Line Items] | ||
Concentration Risk, Percentage | 23.00% | |
Products Sales [Member] | CHINA | ||
Revenue, Major Customer [Line Items] | ||
Concentration Risk, Percentage | 75.00% | |
Products Sales [Member] | Foreign Countries [Member] | ||
Revenue, Major Customer [Line Items] | ||
Concentration Risk, Percentage | 25.00% |
Subsequent events (Details Text
Subsequent events (Details Textual) - USD ($) | 2 Months Ended | 12 Months Ended | |
Mar. 01, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Subsequent Event [Line Items] | |||
Common Stock, Shares, Outstanding | 21,600,000 | 20,000,000 | |
Stock Issued During Period, Value, New Issues | $ 5,663,122 | ||
Common Stock [Member] | |||
Subsequent Event [Line Items] | |||
Stock Issued During Period, Shares, New Issues | 1,600,000 | ||
Stock Issued During Period, Value, New Issues | $ 1,600 | ||
Subsequent Event [Member] | Securities Purchase Agreement [Member] | |||
Subsequent Event [Line Items] | |||
Common Stock, Shares, Outstanding | 23,293,000 | ||
Subsequent Event [Member] | Common Stock [Member] | Securities Purchase Agreement [Member] | |||
Subsequent Event [Line Items] | |||
Stock Issued During Period, Shares, New Issues | 1,693,000 | ||
Sale of Stock, Price Per Share | $ 4.70 | ||
Stock Issued During Period, Value, New Issues | $ 7,957,100 |