XML 43 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED BALANCE SHEETS (USD $)
Sep. 30, 2011
Dec. 31, 2010
CURRENT ASSETS    
Cash & equivalents $ 19,696,711 $ 11,072,250
Restricted cash 0 2,151,690
Current portion of investment in sales type leases, net 9,365,951 7,624,637
Interest receivable on sales type leases 1,906,795 554,930
Prepaid expenses 6,043 33,274
Other receivables 399,105 393,015
Prepaid loan fees - current 78,492 0
Total current assets 31,453,097 21,829,796
NON-CURRENT ASSETS    
Prepaid interest 807,251 774,609
Prepaid loan fees - noncurrent 302,710 0
Investment in sales type leases, net 146,318,103 117,586,131
Long term deposit 384,265 0
Property and equipment, net 126,586 159,968
Construction in progress 32,179,180 25,377,983
Total non-current assets 180,118,095 143,898,691
TOTAL ASSETS 211,571,192 165,728,487
CURRENT LIABILITIES    
Accounts payable 11,053,151 5,012,640
Notes payable - bank acceptances 0 2,868,921
Taxes payable 1,145,042 1,631,900
Accrued liabilities and other payables 2,631,243 2,874,058
Advance from related parties 1,245,913 1,365,877
Convertible notes - current 3,000,000 4,403,078
Deferred tax liability - current 1,563,843 1,188,504
Bank loans payable - current 3,776,613 1,811,950
Trust loans payable - current 5,295,127 5,081,010
Current portion of long term payable 1,149,448 0
Total current liabilities 34,959,287 26,810,290
NONCURRENT LIABILITIES    
Shares to be issued 3,529,411 8,970,587
Deferred tax liability, net 8,435,634 6,429,139
Long term liability 298,982 286,892
Long term payable 5,265,491 0
Convertible notes, net of discount due to beneficial conversion feature 5,565,156 4,095,356
Conversion liability 2,920,892 6,438,035
Accrued interest on long term convertible notes 341,573 419,922
Bank loans payable 3,776,613 2,264,937
Trust loans payable 34,382,917 32,992,586
Total noncurrent liabilities 64,516,669 61,897,454
Total liabilities 99,475,956 88,707,744
CONTINGENCIES AND COMMITMENTS      
STOCKHOLDERS' EQUITY    
Common stock, $0.001 par value; 100,000,000 shares authorized, 43,533,174 and 39,198,982 shares issued and outstanding as of September 30, 2011 and December 31, 2010, respectively 43,533 39,200
Additional paid in capital 52,045,454 44,666,824
Statutory reserve 6,756,077 5,203,605
Accumulated other comprehensive income 10,488,937 6,083,840
Retained earnings 38,424,418 17,622,514
Total Company stockholders' equity 107,758,419 73,615,983
Noncontrolling interest 4,336,817 3,404,760
Total equity 112,095,236 77,020,743
TOTAL LIABILITIES AND EQUITY 211,571,192 165,728,487
Interest payable on Trust loans
   
CURRENT LIABILITIES    
Interest payable 3,990,907 380,524
Accrued interest on convertible notes
   
CURRENT LIABILITIES    
Interest payable $ 108,000 $ 191,828