XML 67 R5.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONDENSED STATEMENTS OF CASH FLOWS (USD $)
3 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Operating Activities:    
Net Loss $ (18,329)us-gaap_NetIncomeLoss $ (982,524)us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash used by operating activities:    
Depreciation 41,942us-gaap_Depreciation 41,964us-gaap_Depreciation
Amortization 367,189us-gaap_AdjustmentForAmortization  
Changes in operating assets and liabilities:    
Trade receivable (154,055)us-gaap_IncreaseDecreaseInAccountsReceivable 481,242us-gaap_IncreaseDecreaseInAccountsReceivable
Prepaid assets (1,325)us-gaap_IncreaseDecreaseInPrepaidExpense 28,529us-gaap_IncreaseDecreaseInPrepaidExpense
Inventory 125,511us-gaap_IncreaseDecreaseInInventories (179,583)us-gaap_IncreaseDecreaseInInventories
Due from related parties (29,559)us-gaap_IncreaseDecreaseInDueFromOtherRelatedPartiesCurrent (16,673)us-gaap_IncreaseDecreaseInDueFromOtherRelatedPartiesCurrent
Due from directors (178)us-gaap_IncreaseDecreaseInDueFromOfficersAndStockholdersCurrent (83,516)us-gaap_IncreaseDecreaseInDueFromOfficersAndStockholdersCurrent
Deposits and other current assets 365,282cik0001586513_IncreaseDecreaseInDepositsAndOtherCurrentAssets (18,663)cik0001586513_IncreaseDecreaseInDepositsAndOtherCurrentAssets
Trade payable and accrued expenses (96,561)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 513,174us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Due to related parties 16,996us-gaap_IncreaseDecreaseInDueToOtherRelatedPartiesCurrent 9,819us-gaap_IncreaseDecreaseInDueToOtherRelatedPartiesCurrent
Due to directors 152,631us-gaap_IncreaseDecreaseInDueToOfficersAndStockholdersCurrent 2,913us-gaap_IncreaseDecreaseInDueToOfficersAndStockholdersCurrent
Deposits payable (109,412)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities (141,289)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Taxes payable (1,154)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable (29,741)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
Net cash provided by (used in) operating activities 658,978us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (374,348)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Financing Activities:    
Purchase of property, plant and equipment 0us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (1,140)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Net cash used in investing activities 0us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (1,140)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Financing Activities:    
Proceeds from paid-in capital     
Bank overdraft (19,402)us-gaap_ProceedsFromRepaymentsOfBankOverdrafts 132us-gaap_ProceedsFromRepaymentsOfBankOverdrafts
Proceeds from debt 883,155us-gaap_ProceedsFromShortTermDebt 4,892,398us-gaap_ProceedsFromShortTermDebt
Repayment on debt (1,625,794)us-gaap_RepaymentsOfShortTermDebt (4,236,433)us-gaap_RepaymentsOfShortTermDebt
Payments on capital lease (8,245)us-gaap_RepaymentsOfLongTermCapitalLeaseObligations (29,375)us-gaap_RepaymentsOfLongTermCapitalLeaseObligations
Common shares issued during the merger 110us-gaap_ProceedsFromOtherEquity 0us-gaap_ProceedsFromOtherEquity
Net cash provided by (used in) financing activities (770,176)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 626,722us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Effects of exchange rate changes on cash 0us-gaap_EffectOfExchangeRateOnCashContinuingOperations (35,028.00)us-gaap_EffectOfExchangeRateOnCashContinuingOperations
NET INCREASE (DECREASE) IN CASH (111,198)us-gaap_CashPeriodIncreaseDecrease 216,206us-gaap_CashPeriodIncreaseDecrease
Cash at beginning of period 126,648us-gaap_Cash 886,808us-gaap_Cash
Cash at end of period 15,450us-gaap_Cash 1,103,014us-gaap_Cash
Supplemental disclosure of cash flow information:    
Cash paid for interest 83,113us-gaap_InterestPaidNet 80,539us-gaap_InterestPaidNet
Cash paid for taxes $ 1,154us-gaap_IncomeTaxesPaid $ 2,263us-gaap_IncomeTaxesPaid