we estimate that the market demand and asps for cmp and other packaging paper will be volatile in the 2019. our pm6 production line , which produces regular cmp , has a designated capacity of 360,000 tonnes /year . the utilization rates for the year ended december 31 , 2018 and 2017 were 32.54 % and 48.01 % , respectively , representing a decrease of 15.47 % . quantities sold for regular cmp that was produced by the pm6 production line from january 2017 to december 2018 are as follows : offset printing paper revenue from offset printing paper was $ 5,136,892 ( 5.92 % of the total offset printing paper , cmp and tissue paper products revenues ) for the year ended december 31 , 2018 , representing a decrease of $ 13,550,765 , or 72.51 % , from $ 18,687,657 in 2017. we sold 6,191 tonnes of offset printing paper in the year ended december 31 , 2018 , compared to 26,610 tonnes in 2017 , a decrease of 20,419 tonnes , or 76.73 % . asps for offset printing paper in the year ended december 31 , 2017 and 2018 was $ 702/tonne and $ 830/tonne , respectively , representing a 18.23 % increase.asp in rmb for offset printing paper for the year ended december 31 , 2017 and 2018 was rmb4,735 and rmb5,504 , respectively , representing a 16.24 % increase . we estimate that the market demand and asp of offset printing paper will be volatile in 2019 . 30 tissue paper products we process base tissue paper purchased from a long-term supplier and produce finished tissue paper products , including toilet paper , boxed and soft-packed tissues , handkerchief tissues and paper napkins , as well as bathroom and kitchen paper towels that are marketed and sold under the dongfang paper brand . in december 2018 , we completed the construction and installation and test of operation of pm8 and announced the commercial launch of tissue paper production . we expect to commence the full operation of production and sales of tissue paper products in year 2019. revenue of digital photo paper revenue generated from selling digital photo paper were $ 13,622 for year 2018. in june 2016 , we suspended the production of digital photo paper due to low market demand for our products . cost of sales total cost of sales for cmp , offset printing paper and tissue paper products in the year ended december 31 , 2018 was $ 80,909,412 , a decrease of $ 16,158,215 , or 16.65 % , from $ 97,067,627 for the year ended december 31 , 2017. this was mainly a result of the decrease in volume sold , partially offset by increase in cost of recycled paper board and recycled white scrap paper . cost of sales for cmp was $ 75,811,876 for the year ended december 31 , 2018 , as compared to $ 79,411,534 in 2017. the decrease in the cost of sales of $ 3,599,659 for cmp was mainly due to the decrease in the quantities of regular cmp sold , partially offset by the increase in cost of recycled paper board and increase in sales volume of light-weighted cmp in the year of 2018. average cost of sales per tonne for cmp increased by 31.33 % , from $ 383 for the year ended december 31 , 2017 , to $ 503 in 2018. the increase was mainly attributable to the higher average unit purchase costs ( net of applicable value added tax ) of recycled paper board in 2018 as compared to 2017. cost of sales for offset printing paper was $ 5,097,537 for the year ended december 31 , 2018 , as compared to $ 15,451,146 in 2017. average cost of sales per tonne of offset printing paper increased by 41.65 % , from $ 581 in the year ended december 31 , 2017 , to $ 823 in 2018. the increase was mainly attributable to higher average unit purchase costs ( net of applicable value added tax ) of recycled white scrap paper . changes in cost of sales and cost per tonne by product for the year ended december 31 , 2018 and 2017 are summarized below : replace_table_token_5_th our average unit purchase costs ( net of applicable value added tax ) of recycled paper board and recycled white scrap paper for the year ended december 31 , 2018 were rmb 2,079/tonne ( approximately $ 313/tonne ) and rmb 3,013/tonne ( approximately $ 454/tonne ) , respectively , as compared to rmb 1,655/tonne ( approximately $ 245/tonne ) and rmb 2,848/tonne ( approximately 422/tonne ) for the year ended december 31 , 2017 , respectively . these changes ( in us dollars ) represent a year-over-year increase of 27.76 % for the recycled paper board and a year-over-year increase of 7.58 % for the recycled white scrap paper . we use domestic recycled paper ( sourced mainly from the beijing-tianjin metropolitan area ) exclusively . although we do not rely on imported recycled paper , the pricing of which tends to be more volatile than domestic recycled paper , our experience suggests that the pricing of domestic recycled paper bears some correlation to the pricing of imported recycled paper . 31 the pricing trends of our major raw materials for the 24-month period from january 2017 to december 2018 are shown below : electricity and gas are our two main energy sources . in order to reduce carbon emissions , we had been required to reduce coal consumption by the local government . story_separator_special_tag out of the total outstanding loan balance , current portion amounted were $ nil and $ 3,826,022 as of december 31 , 2018 and 2017 , respectively , which are presented as current liabilities in the consolidated balance sheet and the remaining balance of $ 3,642,615 and $ nil are presented as non-current liabilities in the consolidated balance sheet as of december 31 , 2018 and 2017 , respectively . on april 20 , 2017 , the company entered into a loan agreement with the rural credit union of xushui district for a term of 2 years , which is due and payable in various installments from august 26 , 2017 to april 19 , 2019. the loan is guaranteed by hebei tengsheng with its land use right pledged as collateral for the benefit of the bank . interest payment is due quarterly and bears a fixed rate of 0.6 % per month . as of december 31 , 2018 and december 31 , 2017 , the total outstanding loan balance was $ 2,302,133 and $ 2,418,047 , respectively . out of the total outstanding loan balance , current portion amounted were $ 2,302,133 and $ 1,224,328 as of december 31 , 2018 and december 31 , 2017 , respectively , which are presented as current liabilities in the consolidated balance sheet and the remaining balance of $ nil and $ 1,193,719 are presented as non-current liabilities in the consolidated balance sheet as of september 30 , 2018 and december 31 , 2017 , respectively . total interest expenses for the short-term bank loans and long-term loans for the years ended december 31 , 2018 and 2017 were $ 1,214,708 and $ 1,196,814 , respectively . shareholder loans mr zhenyong liu , the company 's ceo has loaned money to dongfang paper for working capital purposes over a period of time . on january 1 , 2013 , dongfang paper and mr. zhenyong liu renewed the three-year term loan previously entered on january 1 , 2010 , and extended the maturity date further to december 31 , 2015. on december 31 , 2015 , the company paid off the loan of $ 2,249,279 , together with interest of $ 391,374 for the period from 2013 to 2015. approximately $ 373,490 and $ 392,296 of interest were outstanding and due to mr. zhenyong liu , which were recorded in other payables and accrued liabilities as part of the current liabilities in the consolidated balance sheet as of december 31 , 2018 and 2017 , respectively . on december 10 , 2014 , mr. zhenyong liu provided a loan to the company , amounted to $ 8,742,278 to dongfang paper for working capital purpose with an interest rate of 4.35 % per annum , which was based on the primary lending rate of people 's bank of china . the unsecured loan was provided on december 10 , 2014 , and would be originally due on december 10 , 2017. during the year of 2016 , the company repaid $ 6,012,416 to mr. zhenyong liu , together with interest of $ 288,596. in february 2018 , the company repaid $ 3,014,863 to mr. zhenyong liu , together with interest of $ 20,400. as of december 31 , 2018 and 2017 , the outstanding loan balance was $ nil and $ 3,060,818 , respectively and the accrued interest was $ 43,711 and $ 45,912 , respectively , which was recorded in other payables and accrued liabilities as part of the current liabilities in the consolidated balance sheet . on march 1 , 2015 , the company entered an agreement with mr. zhenyong liu which allows dongfang paper to borrow from the ceo an amount up to approximately $ 17,484,555 ( rmb120,000,000 ) for working capital purposes . the advances or funding under the agreement are due three years from the date each amount is funded . the loan is unsecured and carries an annual interest rate set on the basis of the primary lending rate of the people 's bank of china at the time of the borrowing . on july 13 , 2015 , an unsecured amount of $ 4,324,636 was drawn from the facility . on october 14 , 2016 an unsecured amount of $ 2,883,091 was drawn from the facility . in february 2018 , the company repaid $ 1,507,432 to mr. zhenyong liu . the loan would be originally due on july 12 , 2018. mr. zhenyong liu agreed to extend the loan for additional 3 years and the remaining balance will be due on july 12 , 2021. on november 23 , 2018 , the company repaid $ 3,768,579 to mr. zhenyong liu , together with interest of $ 158,651. as of december 31 , 2018 and 2017 , the outstanding loan balance were $ 2,185,569 and $ 7,652,047 , respectively , and the accrued interest was $ 200,253 and $ 110,476 , respectively , which was recorded in other payables and accrued liabilities as part of the current liabilities in the consolidated balance sheet . as of december 31 , 2018 and 2017 , total amount of loans due to mr. zhenyong liu were $ 2,185,569 and $ 10,712,865 , respectively . the interest expense incurred for such related party loans are $ 277,411 and $ 451,626 for the years ended december 31 , 2018 and 2017 , respectively . the accrued interest due to the ceo was approximately $ 617,454 and $ 548,684 , as of december 31 , 2018 and 2017 , respectively , which was recorded in other payables and accrued liabilities . as of december 31 , 2018 and 2017 , amount due to shareholders are $ 210,148 and $ nil , respectively , which represents funds from shareholders to pay for various expenses incurred in the u.s. the amount is due on demand with interest free . 38 critical accounting policies and estimates the company 's financial statements are prepared in accordance

liquidity and capital resources overview as of december 31 , 2018 , we had a net working capital deficit of $ 5,475,395 , an increase of $ 3,704,659 , from the net working capital deficit of $ 1,770,736 at december 31 , 2017. total current assets as of december 31 , 2018 amounted to $ 24,158,872. substantially all cash and cash equivalents are cash deposits in bank accounts . restricted cash of $ 3,642,616 was included in our current assets as of december 31 , 2018. restricted cash is deposited at the bank of cangzhou for purpose of securing the bank acceptance notes from the bank . the acceptance notes was paid off in january 2019. current liabilities as of december 31 , 2018 totaled $ 29,634,267 , an increase of $ 7,876,734 , from the december 31 , 2017 balance of $ 21,757,533. we use bank acceptance notes , which are typically 6-to-12 month notes , to guarantee the payments to our vendors . notes payable was $ 3,642,616 as of december 31 , 2018 , representing a decrease of $ 2,479,021 , or 40.50 % , from $ 6,121,637 as of december 31 , 2017. most of our current short-term bank loans are either revolving or term loans . we expect to renew these loans with the banks on similar terms at or before maturity . all of our short-term loans ( with the exception of the notes payable , which carry no interest but require a deposit equal to a portion of the credit facilities at the issuing banks ) have interest-only monthly payments , with a balloon payment for the entire principal amount upon maturity of the loan . the long term loans from the credit union require monthly and quarterly interest payments , with one large balloon payment upon maturity .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources overview as of december 31 , 2018 , we had a net working capital deficit of $ 5,475,395 , an increase of $ 3,704,659 , from the net working capital deficit of $ 1,770,736 at december 31 , 2017. total current assets as of december 31 , 2018 amounted to $ 24,158,872. substantially all cash and cash equivalents are cash deposits in bank accounts . restricted cash of $ 3,642,616 was included in our current assets as of december 31 , 2018. restricted cash is deposited at the bank of cangzhou for purpose of securing the bank acceptance notes from the bank . the acceptance notes was paid off in january 2019. current liabilities as of december 31 , 2018 totaled $ 29,634,267 , an increase of $ 7,876,734 , from the december 31 , 2017 balance of $ 21,757,533. we use bank acceptance notes , which are typically 6-to-12 month notes , to guarantee the payments to our vendors . notes payable was $ 3,642,616 as of december 31 , 2018 , representing a decrease of $ 2,479,021 , or 40.50 % , from $ 6,121,637 as of december 31 , 2017. most of our current short-term bank loans are either revolving or term loans . we expect to renew these loans with the banks on similar terms at or before maturity . all of our short-term loans ( with the exception of the notes payable , which carry no interest but require a deposit equal to a portion of the credit facilities at the issuing banks ) have interest-only monthly payments , with a balloon payment for the entire principal amount upon maturity of the loan . the long term loans from the credit union require monthly and quarterly interest payments , with one large balloon payment upon maturity .
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 Suspicious Activity Report : we estimate that the market demand and asps for cmp and other packaging paper will be volatile in the 2019. our pm6 production line , which produces regular cmp , has a designated capacity of 360,000 tonnes /year . the utilization rates for the year ended december 31 , 2018 and 2017 were 32.54 % and 48.01 % , respectively , representing a decrease of 15.47 % . quantities sold for regular cmp that was produced by the pm6 production line from january 2017 to december 2018 are as follows : offset printing paper revenue from offset printing paper was $ 5,136,892 ( 5.92 % of the total offset printing paper , cmp and tissue paper products revenues ) for the year ended december 31 , 2018 , representing a decrease of $ 13,550,765 , or 72.51 % , from $ 18,687,657 in 2017. we sold 6,191 tonnes of offset printing paper in the year ended december 31 , 2018 , compared to 26,610 tonnes in 2017 , a decrease of 20,419 tonnes , or 76.73 % . asps for offset printing paper in the year ended december 31 , 2017 and 2018 was $ 702/tonne and $ 830/tonne , respectively , representing a 18.23 % increase.asp in rmb for offset printing paper for the year ended december 31 , 2017 and 2018 was rmb4,735 and rmb5,504 , respectively , representing a 16.24 % increase . we estimate that the market demand and asp of offset printing paper will be volatile in 2019 . 30 tissue paper products we process base tissue paper purchased from a long-term supplier and produce finished tissue paper products , including toilet paper , boxed and soft-packed tissues , handkerchief tissues and paper napkins , as well as bathroom and kitchen paper towels that are marketed and sold under the dongfang paper brand . in december 2018 , we completed the construction and installation and test of operation of pm8 and announced the commercial launch of tissue paper production . we expect to commence the full operation of production and sales of tissue paper products in year 2019. revenue of digital photo paper revenue generated from selling digital photo paper were $ 13,622 for year 2018. in june 2016 , we suspended the production of digital photo paper due to low market demand for our products . cost of sales total cost of sales for cmp , offset printing paper and tissue paper products in the year ended december 31 , 2018 was $ 80,909,412 , a decrease of $ 16,158,215 , or 16.65 % , from $ 97,067,627 for the year ended december 31 , 2017. this was mainly a result of the decrease in volume sold , partially offset by increase in cost of recycled paper board and recycled white scrap paper . cost of sales for cmp was $ 75,811,876 for the year ended december 31 , 2018 , as compared to $ 79,411,534 in 2017. the decrease in the cost of sales of $ 3,599,659 for cmp was mainly due to the decrease in the quantities of regular cmp sold , partially offset by the increase in cost of recycled paper board and increase in sales volume of light-weighted cmp in the year of 2018. average cost of sales per tonne for cmp increased by 31.33 % , from $ 383 for the year ended december 31 , 2017 , to $ 503 in 2018. the increase was mainly attributable to the higher average unit purchase costs ( net of applicable value added tax ) of recycled paper board in 2018 as compared to 2017. cost of sales for offset printing paper was $ 5,097,537 for the year ended december 31 , 2018 , as compared to $ 15,451,146 in 2017. average cost of sales per tonne of offset printing paper increased by 41.65 % , from $ 581 in the year ended december 31 , 2017 , to $ 823 in 2018. the increase was mainly attributable to higher average unit purchase costs ( net of applicable value added tax ) of recycled white scrap paper . changes in cost of sales and cost per tonne by product for the year ended december 31 , 2018 and 2017 are summarized below : replace_table_token_5_th our average unit purchase costs ( net of applicable value added tax ) of recycled paper board and recycled white scrap paper for the year ended december 31 , 2018 were rmb 2,079/tonne ( approximately $ 313/tonne ) and rmb 3,013/tonne ( approximately $ 454/tonne ) , respectively , as compared to rmb 1,655/tonne ( approximately $ 245/tonne ) and rmb 2,848/tonne ( approximately 422/tonne ) for the year ended december 31 , 2017 , respectively . these changes ( in us dollars ) represent a year-over-year increase of 27.76 % for the recycled paper board and a year-over-year increase of 7.58 % for the recycled white scrap paper . we use domestic recycled paper ( sourced mainly from the beijing-tianjin metropolitan area ) exclusively . although we do not rely on imported recycled paper , the pricing of which tends to be more volatile than domestic recycled paper , our experience suggests that the pricing of domestic recycled paper bears some correlation to the pricing of imported recycled paper . 31 the pricing trends of our major raw materials for the 24-month period from january 2017 to december 2018 are shown below : electricity and gas are our two main energy sources . in order to reduce carbon emissions , we had been required to reduce coal consumption by the local government . story_separator_special_tag out of the total outstanding loan balance , current portion amounted were $ nil and $ 3,826,022 as of december 31 , 2018 and 2017 , respectively , which are presented as current liabilities in the consolidated balance sheet and the remaining balance of $ 3,642,615 and $ nil are presented as non-current liabilities in the consolidated balance sheet as of december 31 , 2018 and 2017 , respectively . on april 20 , 2017 , the company entered into a loan agreement with the rural credit union of xushui district for a term of 2 years , which is due and payable in various installments from august 26 , 2017 to april 19 , 2019. the loan is guaranteed by hebei tengsheng with its land use right pledged as collateral for the benefit of the bank . interest payment is due quarterly and bears a fixed rate of 0.6 % per month . as of december 31 , 2018 and december 31 , 2017 , the total outstanding loan balance was $ 2,302,133 and $ 2,418,047 , respectively . out of the total outstanding loan balance , current portion amounted were $ 2,302,133 and $ 1,224,328 as of december 31 , 2018 and december 31 , 2017 , respectively , which are presented as current liabilities in the consolidated balance sheet and the remaining balance of $ nil and $ 1,193,719 are presented as non-current liabilities in the consolidated balance sheet as of september 30 , 2018 and december 31 , 2017 , respectively . total interest expenses for the short-term bank loans and long-term loans for the years ended december 31 , 2018 and 2017 were $ 1,214,708 and $ 1,196,814 , respectively . shareholder loans mr zhenyong liu , the company 's ceo has loaned money to dongfang paper for working capital purposes over a period of time . on january 1 , 2013 , dongfang paper and mr. zhenyong liu renewed the three-year term loan previously entered on january 1 , 2010 , and extended the maturity date further to december 31 , 2015. on december 31 , 2015 , the company paid off the loan of $ 2,249,279 , together with interest of $ 391,374 for the period from 2013 to 2015. approximately $ 373,490 and $ 392,296 of interest were outstanding and due to mr. zhenyong liu , which were recorded in other payables and accrued liabilities as part of the current liabilities in the consolidated balance sheet as of december 31 , 2018 and 2017 , respectively . on december 10 , 2014 , mr. zhenyong liu provided a loan to the company , amounted to $ 8,742,278 to dongfang paper for working capital purpose with an interest rate of 4.35 % per annum , which was based on the primary lending rate of people 's bank of china . the unsecured loan was provided on december 10 , 2014 , and would be originally due on december 10 , 2017. during the year of 2016 , the company repaid $ 6,012,416 to mr. zhenyong liu , together with interest of $ 288,596. in february 2018 , the company repaid $ 3,014,863 to mr. zhenyong liu , together with interest of $ 20,400. as of december 31 , 2018 and 2017 , the outstanding loan balance was $ nil and $ 3,060,818 , respectively and the accrued interest was $ 43,711 and $ 45,912 , respectively , which was recorded in other payables and accrued liabilities as part of the current liabilities in the consolidated balance sheet . on march 1 , 2015 , the company entered an agreement with mr. zhenyong liu which allows dongfang paper to borrow from the ceo an amount up to approximately $ 17,484,555 ( rmb120,000,000 ) for working capital purposes . the advances or funding under the agreement are due three years from the date each amount is funded . the loan is unsecured and carries an annual interest rate set on the basis of the primary lending rate of the people 's bank of china at the time of the borrowing . on july 13 , 2015 , an unsecured amount of $ 4,324,636 was drawn from the facility . on october 14 , 2016 an unsecured amount of $ 2,883,091 was drawn from the facility . in february 2018 , the company repaid $ 1,507,432 to mr. zhenyong liu . the loan would be originally due on july 12 , 2018. mr. zhenyong liu agreed to extend the loan for additional 3 years and the remaining balance will be due on july 12 , 2021. on november 23 , 2018 , the company repaid $ 3,768,579 to mr. zhenyong liu , together with interest of $ 158,651. as of december 31 , 2018 and 2017 , the outstanding loan balance were $ 2,185,569 and $ 7,652,047 , respectively , and the accrued interest was $ 200,253 and $ 110,476 , respectively , which was recorded in other payables and accrued liabilities as part of the current liabilities in the consolidated balance sheet . as of december 31 , 2018 and 2017 , total amount of loans due to mr. zhenyong liu were $ 2,185,569 and $ 10,712,865 , respectively . the interest expense incurred for such related party loans are $ 277,411 and $ 451,626 for the years ended december 31 , 2018 and 2017 , respectively . the accrued interest due to the ceo was approximately $ 617,454 and $ 548,684 , as of december 31 , 2018 and 2017 , respectively , which was recorded in other payables and accrued liabilities . as of december 31 , 2018 and 2017 , amount due to shareholders are $ 210,148 and $ nil , respectively , which represents funds from shareholders to pay for various expenses incurred in the u.s. the amount is due on demand with interest free . 38 critical accounting policies and estimates the company 's financial statements are prepared in accordance

