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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Net income (loss) $ (1,044,100) $ 79,593
Stock-based compensation 143,618 160,865
Interest income from related party loan   (837,359)
Loss in equity of Joint Venture 108,597 111,843
Depreciation 238,531 241,015
Deferred taxes   (106,185)
Change in account receivable 24,730 (1,753,928)
Change in inventories 246,589 1,580,422
Change in prepaid expenses and other current assets (1,297,217) 396,750
Change in account payable - trade 32,737 (187,247)
Change in accounts payable - construction (31,052) (304,007)
Change in accrued expenses and other current liabilities (315,157) 979,789
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (1,892,724) 361,551
Acquisition of property and equipment (13,499) (68,805)
NET CASH USED IN INVESTING ACTIVITIES (13,499) (68,805)
Proceeds from (repayments of) short-term loans 2,852,495 (380,009)
Repayments of shareholder loan   (1,690,029)
Payments from related party 11,969 237,428
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 2,864,464 (1,832,610)
EFFECT OF EXCHANGE RATE ON CASH AND CASH EQUIVALENTS 2,032 46,015
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 960,273 (1,493,849)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 363,771 2,676,176
CASH AND CASH EQUIVALENTS, END OF PERIOD 1,324,044 1,182,327
Interest paid 99,377 67,300
Income taxes paid 111 9,134
Treasury stock acquired in exchange for loan to related parties   $ 4,435,894