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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
6 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Net Income $ 31,711,246 $ 17,248,647
Depreciation and amortization 231,924 250,927
Bad debt adjustment 1,424,099 40,285
Consulting fees adjusted from deferred 994,182 200,000
Stock-based compensation 25,500  
Amortization of financing costs   96,600
Loss on disposal of fixed assets 68 49,148
Loss on disposal of inventories 22,546 7,801
Provision for losses on inventories   (1,245)
Change in fair value of warrants (3,173,290) (7,915,965)
Accrued interest for redeemable stock 60,300  
Changes in inventories (830,683) (656,510)
Changes in advanced to suppliers (28,137,004) (797,370)
Changes in prepayments and other current assets 15,277 (19,048)
Changes in accounts payable and accrued expenses 316,867 (47,788)
Changes in deferred interest income (31,858) (21,692)
Changes in contingent liabilities   42,750
Changes in other current liabilities (1,231) 21,196
Net Cash Provided by Operating Activities 2,627,943 8,497,736
Payment for purchase of equipment (49,737) (69,700)
Payment for construction in progress   (69,062)
Proceeds from sale of property and equipment 3,017 26,967
Net Cash Used in Investing Activities (46,720) (111,795)
Proceeds from discount on loans payable 31,858 21,692
Repayments for loans from shareholders/officers (64,747) (19,863)
Proceeds the repayment of loans by shareholders/officers 9,192 440,522
Net Cash (Used in) Provided by Financing Activities (23,697) 442,351
Net Increase in Cash and Equivalents 2,557,526 8,828,292
Effect of Exchange Rate Changes on Cash (24,873) 299,047
Cash and Equivalents at Beginning of Period 11,440,584 5,825,842
Cash and Equivalents at End of Period 13,973,237 14,953,181
Interest paid   229,549
Income taxes paid      
Inventory transferred out to be breeding stock in fixed assets 395 61,062
Construction in progress transferred out to be fixed assets 213 83,606
Offset debt by fixed assets   $ 6,704