Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net loss for the period $ (1,508,929) $ (1,321,799)
Adjustments to reconcile net loss to net cash used in operating activities:    
Accrued interest and dividends on marketable securities 9,213 7,156
Depreciation and amortization $ 56,479 80,349
Gain from other non-operating activities $ (5,355)
Options issued for services $ 8,241
Changes in assets and liabilities    
(Increase)/decrease in trade receivables $ (172,513) $ 20,041
Decrease in notes receivables - related party 43,491
Decrease in deposits and other receivables $ 46,055 14,985
Increase in inventories (80,504) (64,786)
(Increase)/decrease in prepaid expenses 47,661 (20,470)
Increase/(decrease) in trade and other payables $ (125,558) 87,745
Decrease in deferred revenue - related party (83,333)
Net cash used in operating activities $ (1,719,855) (1,241,976)
Cash flows from investing activities    
Purchases of property, plant and equipment (83,772) (44,510)
Purchases of maketable securities $ (19,498) (27,228)
Investment in Hainan Savy Akers Biosciences, Ltd. joint venture (64,675)
Proceeds from other non-operating activities 5,355
Proceeds from sale of marketable securities $ 1,601,456 1,253,436
Net cash provided by investing activities 1,498,186 1,122,378
Net decrease in cash (221,669) (119,598)
Cash at beginning of period 402,059 455,841
Cash at end of period 180,390 336,243
Supplemental Schedule of Non-Cash Financing and Investing Activities    
Net unrealized gains on marketable securities $ 8,534 26,713
Issuance of restricted common share grants to directors and officers accrued in 2014 $ 697,300