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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash Flows From Operating Activities    
Net Income $ 1,515,739 $ 6,776,890
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 1,394,415 1,244,376
Changes in deferred tax 0 55,317
Stock compensation expense 1,089,549 462,895
Warrants expense 0 76,629
Change in fair value of warrant liability 767,096 (2,841,177)
Bad debt expenses 651,989 76,438
Goodwill impairment 0 808,518
Loss on disposal of fixed assets 0 28,963
Changes in operating assets and liabilities:    
Accounts receivable (7,396,420) (9,886,758)
Advance to suppliers 1,843,895 (2,839,808)
Inventories (2,136,742) (2,761,204)
Other current assets (598,028) (127,273)
Accounts payable (975,350) 1,486,895
Advance from customers (44,873) 59,882
Accrued expenses and other payables (666,089) (64,664)
Deferred rent payable 5,327 6,211
Taxes payable 331,620 678,640
Net Cash Used in Operating Activities (4,217,872) (6,759,230)
Cash Flows From Investing Activities    
Deposits on plant construction and website design (19,113) (786,378)
Payment for land compensation fee and occupancy tax (340,542) 0
Purchase of property and equipment (519,448) (1,371,816)
Cash received from disposition of fixed assets 0 11,998
Construction in progress (560,326) (640,501)
Net Cash Used in Investing Activities (1,439,429) (2,786,697)
Cash Flows From Financing Activities    
Proceeds from line of credit and bank loan 28,260,031 21,417,000
Repayment to line of credit and bank loan (26,516,571) (21,664,221)
Proceeds from subscription receivable 0 750,000
Cash received from warrants exercised 0 448,841
Proceeds from equity financing, net of expenses of $355,000 (2014: $831,000) 3,645,002 8,139,000
Net Cash Provided by Financing Activities 5,388,462 9,090,620
Effect of Exchange Rate Changes on Cash and Cash Equivalents (4,595) (570)
Net decrease in cash and cash equivalents (273,434) (455,877)
Cash and cash equivalents, beginning of period 1,244,308 2,323,338
Cash and cash equivalents, ending of period 970,874 1,867,461
Cash paid during the period for:    
Income tax payments 93,984 21,485
Interest expense 282,961 227,285
Supplemental Disclosure of Non-Cash Financing Activities    
Deposits on plant construction and website design transfer to construction in progress 726,722 0
Construction in progress transfer to fixed assets 0 1,044,015
Issuance of common stock in exchange of surrender and termination of warrants $ 2,212,707 $ 0