XML 34 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED BALANCE SHEETS (USD $)
Mar. 31, 2015
Jun. 30, 2014
CURRENT ASSETS:    
Cash and cash equivalents $ 4,786,830us-gaap_Cash $ 2,329,660us-gaap_Cash
Accounts receivable, net of allowance for doubtful accounts of $1,046,176 and $1,562,109, respectively 6,895,330us-gaap_AccountsReceivableNetCurrent 3,890,550us-gaap_AccountsReceivableNetCurrent
Inventories, net 1,971,502us-gaap_InventoryNet 2,195,274us-gaap_InventoryNet
Prepaid expenses and other current assets 3,193,917us-gaap_PrepaidExpenseAndOtherAssetsCurrent 2,505,128us-gaap_PrepaidExpenseAndOtherAssetsCurrent
TOTAL CURRENT ASSETS 16,847,579us-gaap_AssetsCurrent 10,920,612us-gaap_AssetsCurrent
LONG-TERM ASSETS:    
Property and equipment, net of accumulated depreciation 28,778,791us-gaap_PropertyPlantAndEquipmentNet 26,418,842us-gaap_PropertyPlantAndEquipmentNet
Intangible assets, net 500,546us-gaap_IntangibleAssetsNetExcludingGoodwill 546,115us-gaap_IntangibleAssetsNetExcludingGoodwill
Investment in joint venture 122,073us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures 189,185us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
TOTAL LONG-TERM ASSETS 29,401,410us-gaap_AssetsNoncurrent 27,154,142us-gaap_AssetsNoncurrent
TOTAL ASSETS 46,248,989us-gaap_Assets 38,074,754us-gaap_Assets
CURRENT LIABILITIES:    
Short-term borrowings 9,379,188us-gaap_ShortTermBorrowings 11,398,464us-gaap_ShortTermBorrowings
Accounts payable 2,501,309us-gaap_AccountsPayableCurrent 3,883,198us-gaap_AccountsPayableCurrent
Loan payable - bank 16,307,627us-gaap_LoansPayableToBankCurrent 3,247,966us-gaap_LoansPayableToBankCurrent
Current portion of loan payable - related parties 1,310,403us-gaap_DueToRelatedPartiesCurrent 1,084,248us-gaap_DueToRelatedPartiesCurrent
Current portion of loan payable - other   10,166,133us-gaap_LongTermDebtCurrent
Accrued expenses and other current liabilities 6,883,268us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent 4,434,790us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent
TOTAL CURRENT LIABILITIES 36,381,795us-gaap_LiabilitiesCurrent 34,214,799us-gaap_LiabilitiesCurrent
LONG-TERM LIABILITIES:    
Loan payable - related parties 4,044,986us-gaap_DueToRelatedPartiesNoncurrent 6,146,803us-gaap_DueToRelatedPartiesNoncurrent
Loan payable - others 1,360,466us-gaap_OtherLoansPayableLongTerm 1,354,810us-gaap_OtherLoansPayableLongTerm
Deferred income 368,552us-gaap_DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent 367,020us-gaap_DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent
TOTAL LONG-TERM LIABILITIES 5,774,004us-gaap_LiabilitiesNoncurrent 7,868,633us-gaap_LiabilitiesNoncurrent
Stockholder's Equity    
Common stock, par value $0.001, 100,000,000 shares authorized, 68,789,847 and 49,874,822 shares issued and outstanding on March 31, 2015 and on June 30, 2014 respectively 68,790us-gaap_CommonStockValue 49,875us-gaap_CommonStockValue
Additional paid in capital 64,918,628us-gaap_AdditionalPaidInCapital 58,315,446us-gaap_AdditionalPaidInCapital
Accumulated deficit (62,512,407)us-gaap_RetainedEarningsAccumulatedDeficit (63,849,681)us-gaap_RetainedEarningsAccumulatedDeficit
Accumulated other comprehensive income 3,027,005us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax 2,979,235us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
TOTAL SHAREHOLDERS' EQUITY OF THE COMPANY 5,502,016us-gaap_StockholdersEquity (2,505,125)us-gaap_StockholdersEquity
NONCONTROLLING INTEREST IN SUBSIDIARIES (1,408,826)us-gaap_MinorityInterest (1,503,553)us-gaap_MinorityInterest
TOTAL EQUITY 4,093,190us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest (4,008,678)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 46,248,989us-gaap_LiabilitiesAndStockholdersEquity $ 38,074,754us-gaap_LiabilitiesAndStockholdersEquity