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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)
Jun. 30, 2011
Dec. 31, 2010
Cash and cash equivalents $ 4,687,657 $ 3,692,086
Banker's acceptances 237,415 0
Trade accounts receivable, less allowance for doubtful accounts of $3,276,642 and $3,317,017, respectively 66,144,994 61,947,737
Other receivables, less allowance for doubtful accounts of $22,337 and $15,669, respectively 82,240 65,019
Advances to suppliers 5,322,135 5,311,896
Inventory 23,977,442 20,388,935
Deferred tax assets 524,290 528,684
Total Current Assets 100,976,173 91,934,357
Advances for purchases of property and equipment and intangible assets 5,409,096 4,395,331
Property and equipment, net of accumulated depreciation of $3,181,610 and $2,695,840, respectively 6,265,741 6,372,487
Intangible assets, net of accumulated amortization of $2,872,652 and $2,342,081, respectively 30,788,187 29,048,766
TOTAL ASSETS 143,439,197 131,750,941
Trade accounts payable 2,767,403 4,937,781
Accrued expenses 82,130 98,206
Accrued taxes payable 3,355,674 2,386,019
Other payables 368,412 92,077
Advances from customers 1,392,699 1,208,988
Other payables - related parties 491,563 303,644
Short-term notes payable 3,868,173 3,781,119
Total Current Liabilities 12,326,054 12,807,834
Long-term deferred tax liability 73,323 71,673
Derivative warrant liability 0 934,260
Total Liabilities 12,399,377 13,813,767
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued or outstanding 0 0
Common stock, $0.001 par value; 95,000,000 shares authorized; 43,529,557 shares and 43,404,557 shares outstanding, respectively 43,530 43,405
Additional paid-in capital 23,334,316 23,252,476
Retained earnings 95,189,716 85,017,024
Accumulated other comprehensive income 12,472,258 9,624,269
Total Stockholders' Equity 131,039,820 117,937,174
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 143,439,197 $ 131,750,941