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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 20,353,591 $ 25,261,540
Adjusted to reconcile net income to cash used in operating activities:    
Depreciation 1,016,876 995,002
Amortization of intangible assets 6,080 8,958
Share based compensation 1,133,790 1,047,355
Inventory valuation allowance 7,115,531 0
Deferred tax provision (benefit) (471,468) 0
(Increase) decrease in:    
Accounts receivable 425,686 517,022
Inventories (22,251,264) (33,590,814)
Other current assets and prepaid expenses (291,007) 15,269
Value added tax recoverable (989,335) (3,001,419)
Increase (decrease) in:    
Other payables and accrued expenses (444,964) 81,959
Income tax payable 756,440 1,572,629
Other taxes payable (55,351) (85,251)
Net cash provided by (used in) operating activities 6,304,605 (7,177,750)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property and equipment (53,669) (149,666)
Net cash (used in) investing activities (53,669) (149,666)
CASH FLOWS FROM FINANCING ACTIVITIES    
Restricted cash (4,284,287) 0
Proceeds from related party loan 1,501,252 0
Net proceeds from stock issuance 12,522,000 0
Net proceeds from exercise of warrants 4,500,000 0
Net cash provided by financing activities 14,238,965 0
EFFECT OF EXCHANGE RATES ON CASH AND CASH EQUIVALENTS 283,017 142,448
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 20,772,918 (7,184,969)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 2,544,114 8,810,173
CASH AND CASH EQUIVALENTS, END OF PERIOD 23,317,032 1,625,205
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest expense 3,235,628 354,686
Cash paid for income tax $ 7,441,340 $ 7,708,004