XML 126 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities    
Net income $ 405,000 $ 752,000
Adjustments to reconcile net income to net cash (used in) / provided by operating activities    
Depreciation and amortization 840,000 818,000
Share-based compensation expenses 21,000 27,000
Allowances for doubtful debts 787,000 561,000
Share of losses in equity investment affiliates 125,000 297,000
Deferred taxes (437,000) (558,000)
Changes in operating assets and liabilities    
Accounts receivable (1,781,000) (5,346,000)
Other receivables (701,000) 226,000
Prepayment and deposit to suppliers 258,000 1,983,000
Due from related parties (160,000) 43,000
Other current assets 32,000 26,000
Accounts payable 142,000 109,000
Advances from customers (274,000) 1,070,000
Accrued payroll and other accruals 32,000 418,000
Due to related parties   (162,000)
Other payables (45,000) 45,000
Taxes payable 736,000 783,000
Net cash (used in) provided by operating activities (20,000) 1,092,000
Cash flows from investing activities    
Purchases of vehicles and office equipment (60,000) (46,000)
Deposit for purchasing of software technology (800,000)  
Project development deposit to a third party   (2,450,000)
Payment for acquisition of VIEs (1,280,000) (553,000)
Net cash used in investing activities (2,140,000) (3,049,000)
Cash flows from financing activities    
Dividend paid to convertible preferred stockholders   (5,000)
Short-term loan borrowed from an equity investment affiliate   316,000
Short-term loan repaid to an equity investment affiliate   (538,000)
Net cash used in financing activities   (227,000)
Effect of exchange rate fluctuation on cash and cash equivalents 69,000 61,000
Net decrease in cash and cash equivalents (2,091,000) (2,123,000)
Cash and cash equivalents at beginning of the period 5,483,000 10,695,000
Cash and cash equivalents at end of the period 3,392,000 8,572,000
Supplemental disclosure of cash flow information    
Income taxes paid 39,000 73,000
Non-cash transactions:    
Restricted stock and options granted for future service $ 21,000 $ 63,000