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CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flows from operating activities:    
Income including noncontrolling interest $ 2,225,216 $ 9,162,215
Adjustments to reconcile income to cash including non-controlling interest provided by (used in) operating activities:    
Depreciation and amortization 1,268,053 1,168,137
Non-cash equity-based compensation 2,030,151 977,650
Provision for inventory obsolescence 361,039 (69,484)
Provision on accounts receivable 1,559,674 0
Loss on disposal of fixed assets 0 8,487
Loss on investment in joint venture 423,630 0
Fair value adjustment on warrants (523,078) (4,208,983)
Changes in deferred tax assets 56,649 (137,429)
Changes in operating assets and liabilities:    
Accounts receivable (38,096,887) 5,617,608
Inventories (5,256,775) (202,940)
Advances to suppliers (728,846) (16,462,684)
Prepaid expenses and other assets (5,713,871) 38,596
Accounts payable 24,834,057 (232,497)
Advance from customers 2,026,810 1,546,012
Related parties-net 3,998,291 (8,004,040)
Accrued expenses and other current liabilities 6,278,056 795,132
Net cash used in operating activities (5,257,831) (10,004,220)
Cash flows from investing activities:    
(Decrease) increase in restricted cash (792,581) 89,134
(Purchase of)/proceeds from disposal of property and equipment and other long-term assets (359,098) 250,603
Receipts of notes receivable (5,384,577) (166,781)
Equity method investee (12,364,270) 0
Refund from factory construction deposit 10,261,417 0
Cash increase due to acquisition of subsidiaries 0 235,112
Net cash (used in) provided by investing activities (8,639,109) 408,068
Cash flows from financing activities:    
Issuance of shares for cash 0 174,154
Proceeds from short-term loans 3,201,559 30,713,438
Repayment of short-term loans (1,506,339) (23,115,701)
Repayment on notes payable (4,457,729) 0
Payments to related parties (6,379,117) (9,927,290)
Receipt from related parties 25,697,445 11,175,068
Repayments on long-term loan (7,250) (7,224)
Net cash provided by financing activities 16,548,569 9,012,445
Effect of exchange rate changes on cash & cash equivalents 21,228 61,123
Net increase (decrease) in cash and cash equivalents 2,672,857 (522,584)
Cash and cash equivalents, beginning balance 1,131,109 6,374,103
Cash and cash equivalents, ending balance 3,803,966 5,851,519
SUPPLEMENTARY DISCLOSURES:    
Interest paid 1,924,763 933,614
Income tax paid 2,813,825 116,717
Non-cash investing and financing activities    
Acquision of 100% of CDE by issuing 484,800 shares $ 0 $ 1,818,000