XML 20 R6.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Statement of Cash Flows (USD $)
6 Months Ended 80 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Operating Activities:      
Net loss $ (14,558) $ (91,185) $ (4,019,050)
Adjustments to reconcile net loss to net cash used by operations      
Depreciation (cost and expense) 1,102 17,294 211,341
Provision for obsolete inventories     107,484
Impairment loss on intangible assets     241,639
Impairment loss on fixed assets     669,813
Gain on disposal of fixed assets     (7,730)
Stock compensation   50,000 2,400,000
Changes in operating assets and liabilities:      
(Increase)/decrease in account receivable      
(Increase)/decrease in prepaid and other receivables   (50,139) (293)
(Increase)/decrease in inventory     (107,151)
Increase/(decrease) in accounts payable     695
Increase/(decrease) in accrued expenses (19,933) (15,428) 6,248
Decrease in deferred income-government grants   31,491 105,491
Net cash used in operating activities (33,389) (57,967) (391,513)
Investing Activities      
Purchase of fixed assets     (710,118)
Loan to shareholders     (24,659)
Repayment of loan from shareholders     24,659
Net cash used in investing activities     (710,118)
Financing Activities      
Distribution to shareholders     (24,994)
Capital contribution     274,103
Proceeds from shareholder loans 39,743 108,178 916,195
Repayment of loan to shareholders     (70,844)
Net cash provided by financing activities 39,743 108,178 1,094,460
Effect of exchange rate changes on cash (5,202) 86 12,247
Increase(decrease) in cash 1,152 50,297 5,076
Cash at beginning of period 3,924 27,884  
Cash at end of period 5,076 78,181 5,076
Interest received (paid) during the year     260
Contribution of patent for equity     241,639
Contribution of fixed assets for equity     125,497
Stock issued in exchange for consulting services     2,400,000
Conversion of shareholder's loan to paid in capital     $ 359,357