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Condensed Consolidated Statements of Cash Flows (USD $)
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash Flows from Operating Activities  
Net income$ 8,680,610$ 8,161,200
Adjustments to reconcile net income to net cash provided by operating activities:  
(Income) expense from revaluation of Series A Preferred Stock and A, B, C, and D warrants with characteristics of liabilities at fair values(475,205)(3,456,500)
Issuance of shares in consideration for various services22,000217,800
Issuance of options in consideration for legal services0390,275
Imputed interest41,88839,999
Provision for (reduction in) allowances, returns and doubtful accounts20,942(31,146)
Depreciation - cost of sales408,242256,703
Depreciation - operating expenses72,00157,369
Amortization of land use rights -cost of sales268,097237,735
Amortization of land use rights- operating expenses52,28525,120
Amortization of intangible assets882,522332,671
Loss on disposal of property and equipment150,5422,085
Changes in operating assets and liabilities:  
Increase in accounts receivable(4,803,326)(4,118,330)
(Increase) decrease in inventories(3,533,704)749,424
Increase in prepaid expenses(34,898)(1,321)
Collection of other receivable03,747,926
Decrease in accounts payable and accrued liabilities(63,622)(82,680)
(Decrease) increase in taxes payable238,969350,210
Net cash provided by operating activities1,927,3436,878,540
Cash Flows from Investing Activities  
Purchase of intangible assets0(8,088,226)
Purchase of property, plant and equipment0(17,083)
Proceeds from sale of property and equipment112,1570
Collection of other receivables from related party500223,379
Deposit in connection with Asset Purchase Agreement0(2,690,460)
Net cash provided by (used in) investing activities112,657(10,572,390)
Cash Flows from Financing Activities  
Proceeds from related party37,1320
Repayment to related party0(5,042)
Cash exercise of options0125,000
Exercise of B warrants0750,000
Net cash provided by financing activities37,132869,958
Effect of exchange rate changes on cash and cash equivalents511,608455,222
Increase in cash and cash equivalents2,588,740(2,368,670)
Cash and cash equivalents, beginning of period2,630,0352,918,068
Cash and cash equivalents, end of period5,218,775549,398
Supplemental disclosures of cash flow information:  
Interest paid00
Income taxes paid$ 2,558,662$ 1,565,650