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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Net income $ 10,172,692 $ 10,936,412
Depreciation and amortization 890,895 841,762
Stock based compensation 81,965 221,101
Derivative gain 934,260 1,365,509
Trade accounts receivable (2,741,907) (3,402,232)
Other receivables (15,559) (25,809)
Advances to suppliers 110,882 (907,559)
Inventory (3,086,326) (4,994,669)
Deferred tax assets 16,391 (145,552)
Trade accounts payable (2,204,755) 2,404,264
Accrued expenses 266,666 (31,448)
Accrued taxes payable 905,113 (233,065)
Other payables (8,947) 1,014
Advances from customers 154,239 (17,231)
Net Cash Provided by Operating Activities 3,607,089 3,281,479
Net investment in banker's acceptances (234,921) 0
Advances for purchases of property and equipment and intangible assets (902,986) (2,018,906)
Purchase of property and equipment (223,769) (108,842)
Purchase of intangible assets (1,531,018) (2,852,168)
Net Cash Used in Investing Activities (2,892,694) (4,979,916)
Proceeds from related party loan 187,919 0
Proceeds from exercise of warrants 0 2,583,000
Net Cash Provided by Financing Activities 187,919 2,583,000
Effect of Exchange Rate Changes on Cash 93,257 8,799
Net Increase in Cash and Cash Equivalents 995,571 893,362
Cash and Cash Equivalents at Beginning of Period 3,692,086 3,634,753
Cash and Cash Equivalents at End of Period 4,687,657 4,528,115
Cash paid for interest 118,347 102,121
Cash paid for income taxes $ 617,544 $ 2,906,168