XML 34 R2.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONDENSED BALANCE SHEETS - USD ($)
Mar. 31, 2015
Jun. 30, 2014
Current assets    
Cash $ 360,886 $ 126,648
Trade receivable, net 5,768,598 2,516,567
Inventory 750,384 628,746
Total current assets 6,879,868 3,271,961
Other assets    
Deposits 67,354 68,210
Prepaid assets 5,093 25,431
Other receivables 600,000 367,285
Due from related parties 4,223 0
Total other assets 676,670 460,926
Property, plant and equipment, net 1,624,560 1,750,386
Intangible assets 9,179,610 10,281,168
Total assets 18,360,708 15,764,441
Current liabilities    
Bank overdraft 0 28,749
Current portion of debt 4,576,199 4,912,397
Trade payable 1,796,506 807,017
Accrued expenses 38,017 40,296
Due to related parties 360,612 323,694
Due to directors 88,955 0
Deposits payable 75,292 184,705
Current portion of capital leases obligations 21,080 68,463
Provision for income taxes 84,562 360,298
Total current liabilities 7,041,223 6,725,619
Non- current liabilities    
Debt, net of current portion 2,268,384 1,715,556
Capital leases obligations, net of current portion 5,572 8,760
Deferred income taxes liabilities 114,861 114,861
Total non- current liabilities 2,388,817 1,839,177
Total liabilities 9,430,040 8,564,796
Stockholders' equity    
Common stock, par value $.0001;100,000,000 shares authorized, 51,100,000, and 50,000,000 shares issued and outstanding as of March 31, 2015 and June 30, 2014 [1] 5,110 5,000
Additional paid-in capital [1] 2,584,566 1,585,837
Retained earnings 6,392,889 5,661,975
Accumulated other comprehensive loss (51,897) (53,167)
Total stockholders' equity 8,930,668 7,199,645
Total liabilities and stockholders' equity $ 18,360,708 $ 15,764,441
[1] The capital accounts of the Company have been retroactively restated to reflect the equivalent number of common shares based on the exchange ratio of the merger transaction in determining the basic and diluted weighted average shares.