XML 14 R5.htm IDEA: XBRL DOCUMENT v3.4.0.3
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net income $ 3,696,833 $ 3,855,176
Adjustments to reconcile net income to net cash provided by or used in operating activities:    
Bad debt expense 0 0
Shares to be used and issued for compensation 0 0
Depreciation and amortization 1,779 1,057
Expenses paid by stockholder and contributed as capital 0 619
Changes in operating assets and liabilities:    
Accounts receivable (4,399,391) (1,497,088)
Inventory (30,622) (544,062)
Prepaid rent (81,298) 19,078
Other receivables 319 345,593
Security deposits to suppliers (5,416,385) 2,176,636
Accounts payable and accrued expenses 551,579 5,979,196
Accounts payable-related parties 0 (8,366,913)
Taxes payable 0 0
Other payables 0 598,897
Increase/(Decrease) in security deposit Advances from customers (309) 0
Other assets 0 0
Net cash (used) provided by operating activities (5,677,495) 2,568,189
Cash flows from financing activities    
Capital withdrawal from owners 0 0
Proceeds from issuance of common stock 0 0
Proceeds/(Repayment) to related party, net (2,447,994) 1,894,577
Proceeds/(Repayments) from trade financing loans, net 0 (1,891,048)
Net cash used by financing activities (2,447,994) 3,529
Cash flows from investing activities    
Purchase of land, property and equipment 0 0
Net cash used in investing activities 0 0
Effect of exchange rate changes 71,556 12,919
NET INCREASE (DECREASE) IN CASH (8,053,933) 2,584,637
CASH    
Beginning of period 18,178,550 466
End of period 10,124,617 2,585,103
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION CASH PAID FOR:    
Interest 0 1,363
Income Taxes $ 0 $ 0