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CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:  
Income including noncontrolling interest$ 4,953,232$ 7,913,110
Adjustments to reconcile income to cash including non-controlling interest provided by (used in) operating activities:  
Depreciation and amortization1,168,1371,225,594
Non-cash equity-based compensation977,6501,217,398
Provision for inventory obsolescence(69,484)0
Loss on disposal of fixed assets8,48764,850
Deferred tax assets(137,429)348,410
Changes in operating assets and liabilities:  
Accounts receivable5,617,608(18,657,090)
Inventories(202,940)(190,735)
Advances to suppliers(16,462,684)20,227,972
Prepaid expenses and other assets38,596(331,493)
Accounts payable(232,497)(64,483)
Advance from customers1,546,012271,692
Related parties-net(8,004,040)1,787,828
Accrued expenses and other current liabilities795,1321,804,297
Net cash provided by (used in) operating activities(10,004,220)15,617,350
Cash flows from investing activities:  
Restricted cash89,1342,159,503
Cash paid for long-term investments0(500,000)
Purchase of property and equipment and other long-term assets250,603(9,941,004)
Proceeds from (payments on) notes receivable(166,781)593,798
Cash increase due to acquisition of subsidiaries235,1121,491,630
Net cash provided by (used in) investing activities408,068(6,196,073)
Cash flows from financing activities:  
Issuance of shares for cash174,1541,044,833
Proceeds from short-term loans30,713,43828,064,338
Advance to related parties(539,295)(6,182,774)
Repayment on borrowing from related parties(9,387,995)(23,380,225)
Proceeds from (repayment on) notes payable0(4,489,120)
Collection on advance to related parties1,242,08786,284
Receipt from related parties9,932,98121,080,990
Repayments on short-term loans(23,115,701)(25,130,273)
Repayments on long-term loan(7,224)0
Net cash provided by (used in) financing activities9,012,445(8,905,947)
Effect of exchange rate changes on cash & cash equivalents61,12329,585
Net increase in cash and cash equivalents(522,584)544,915
Cash and cash equivalents, beginning balance6,374,1031,472,300
Cash and cash equivalents, ending balance5,851,5192,017,215
SUPPLEMENTARY DISCLOSURES:  
Interest paid933,614992,067
Income tax paid116,71751,534
Non-cash investing and financing activities  
Acquisition of 28.97% of TCB by issuing 2,462,576 shares04,348,247
Acquision of 100% of Silver Tech by issuing 1,342,599 shares09,590,000
Acquision of 100% of CDE by issuing 484,800 shares$ 1,818,000$ 0