XML 57 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Operations (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2014
Dec. 31, 2013
Income Statement [Abstract]        
Sales revenues $ 5,187,462us-gaap_SalesRevenueNet $ 11,866,008us-gaap_SalesRevenueNet $ 10,928,152us-gaap_SalesRevenueNet $ 23,631,395us-gaap_SalesRevenueNet
Cost of goods sold 7,946,483us-gaap_CostOfGoodsAndServicesSold 16,997,339us-gaap_CostOfGoodsAndServicesSold 16,486,344us-gaap_CostOfGoodsAndServicesSold 31,756,985us-gaap_CostOfGoodsAndServicesSold
Gross (loss) (2,759,021)us-gaap_GrossProfit (5,131,331)us-gaap_GrossProfit (5,558,192)us-gaap_GrossProfit (8,125,590)us-gaap_GrossProfit
Operating expenses        
Selling expenses 19,088us-gaap_SellingExpense 49,583us-gaap_SellingExpense 39,786us-gaap_SellingExpense 80,751us-gaap_SellingExpense
Administrative expenses 512,425us-gaap_GeneralAndAdministrativeExpense 303,617us-gaap_GeneralAndAdministrativeExpense 771,998us-gaap_GeneralAndAdministrativeExpense 751,048us-gaap_GeneralAndAdministrativeExpense
Allowance for bad and doubtful debts 1,135,831us-gaap_ProvisionForDoubtfulAccounts 6,546,832us-gaap_ProvisionForDoubtfulAccounts 3,884,318us-gaap_ProvisionForDoubtfulAccounts 11,668,609us-gaap_ProvisionForDoubtfulAccounts
Depreciation and amortization expense 34,901us-gaap_DepreciationAndAmortization 40,500us-gaap_DepreciationAndAmortization 74,715us-gaap_DepreciationAndAmortization 88,642us-gaap_DepreciationAndAmortization
Total operating expenses 1,702,245us-gaap_OperatingExpenses 6,940,532us-gaap_OperatingExpenses 4,770,817us-gaap_OperatingExpenses 12,589,050us-gaap_OperatingExpenses
(Loss) from operations (4,461,266)us-gaap_OperatingIncomeLoss (12,071,863)us-gaap_OperatingIncomeLoss (10,329,009)us-gaap_OperatingIncomeLoss (20,714,640)us-gaap_OperatingIncomeLoss
Other income/(expense)        
Other revenues 3,032us-gaap_OtherIncome 57,536us-gaap_OtherIncome 3,032us-gaap_OtherIncome 60,064us-gaap_OtherIncome
Interest and finance costs (917,416)us-gaap_InterestExpenseOther (944,656)us-gaap_InterestExpenseOther (1,848,062)us-gaap_InterestExpenseOther (1,881,547)us-gaap_InterestExpenseOther
Total other income/(expense) (914,384)us-gaap_NonoperatingIncomeExpense (887,120)us-gaap_NonoperatingIncomeExpense (1,845,030)us-gaap_NonoperatingIncomeExpense (1,821,483)us-gaap_NonoperatingIncomeExpense
(Loss) from operations before income tax (5,375,650)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest (12,958,983)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest (12,174,039)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest (22,536,123)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Provision for income tax        
Current            
Total income tax            
Net (loss) (5,375,650)us-gaap_NetIncomeLoss (12,958,983)us-gaap_NetIncomeLoss (12,174,039)us-gaap_NetIncomeLoss (22,536,123)us-gaap_NetIncomeLoss
Other comprehensive income:        
Foreign currency translation adjustment (30,284)us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent 322,392us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent 94,136us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent 468,599us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
Comprehensive (loss) $ (5,405,934)us-gaap_ComprehensiveIncomeNetOfTax $ (12,636,591)us-gaap_ComprehensiveIncomeNetOfTax $ (12,079,903)us-gaap_ComprehensiveIncomeNetOfTax $ (22,067,524)us-gaap_ComprehensiveIncomeNetOfTax
Basic (loss) per share $ (1.37)us-gaap_EarningsPerShareBasic $ (3.34)us-gaap_EarningsPerShareBasic $ (3.10)us-gaap_EarningsPerShareBasic $ (5.81)us-gaap_EarningsPerShareBasic
Basic weighted average shares outstanding 3,930,866us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 3,880,866us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 3,930,866us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 3,880,866us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted (loss) per share $ (1.37)us-gaap_EarningsPerShareDiluted $ (3.34)us-gaap_EarningsPerShareDiluted $ (3.10)us-gaap_EarningsPerShareDiluted $ (5.81)us-gaap_EarningsPerShareDiluted
Diluted weighted average shares outstanding 3,930,866us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 3,880,866us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 3,930,866us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 3,880,866us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding