XML 41 R2.htm IDEA: XBRL DOCUMENT v3.3.0.814
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2015
Dec. 31, 2014
Current Assets    
Cash and cash equivalents $ 970,874 $ 1,244,308
Accounts receivable, net 49,422,433 42,971,510
Advance to suppliers 6,243,123 8,104,312
Inventories 5,661,932 3,612,868
Prepaid expenses and other receivables 1,001,871 641,208
Deferred tax asset 139,682 118,866
Total Current Assets 63,439,915 56,693,072
Noncurrent Assets    
Heritage and cultural assets 127,465 132,513
Plant, property and equipment, net 13,341,300 14,377,909
Construction in progress 2,602,075 1,378,860
Lease deposit 95,295 96,096
Deposits for equipment and factory construction 529,633 1,264,551
Goodwill 218,606 218,606
Intangible assets, net 6,424,564 6,493,726
Total Noncurrent Assets 23,338,938 23,962,261
Total Assets 86,778,853 80,655,333
Current Liabilities    
Accounts payable 9,347,463 10,454,485
Line of credit 3,875,887 7,592,879
Advance from customers 78,408 123,673
Accrued liabilities and other payables 1,773,319 2,470,284
Warrant derivative liability 0 1,465,019
Taxes payable 46,074 61,769
Total Current Liabilities 15,121,151 22,168,109
Noncurrent Liabilities    
Line of credit 5,389,435 0
Deferred rent payable 87,007 85,077
Deferred tax liability 13,823 12,199
Income tax payable 6,792,276 6,607,739
Total Noncurrent Liabilities 12,282,541 6,705,015
Total Liabilities $ 27,403,692 $ 28,873,124
Contingencies and Commitments
Stockholders' Equity    
Common stock, $0.001 par value; 75,000,000 shares authorized, 24,197,030 and 20,897,316 shares issued and outstanding as of September 30, 2015 and December 31, 2014, respectively $ 24,197 $ 20,897
Additional paid-in capital 31,480,559 24,751,476
Statutory reserves 6,241 6,241
Accumulated other comprehensive income 1,919,997 2,575,167
Retained earnings 25,944,167 24,428,428
Total Stockholders' Equity 59,375,161 51,782,209
Total Liabilities and Stockholders' Equity $ 86,778,853 $ 80,655,333