XML 182 R84.htm IDEA: XBRL DOCUMENT v2.4.0.8
Discontinued Operations (Details) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Dec. 31, 2012
Results of Operations          
Net revenues $ 64,063,406 $ 86,743,585 $ 106,320,449 $ 161,762,793  
Cost of sales 61,594,868 80,550,858 101,836,422 151,999,647  
Gross profit 2,468,538 6,192,727 4,484,027 9,763,146  
Operating expenses 1,874,421 5,022,175 3,525,242 6,877,028  
Operating income 594,117 1,170,552 958,785 2,886,118  
Other income (expenses), net (887,255) 988,968 (1,589,430) 707,997  
(Loss) income before taxes from discontinued operations (293,138) 2,159,520 (630,645) 3,594,115  
less: Provision for income taxes 126 556,639 21,187 903,549  
(Loss) income from discontinued operations, net of tax (293,264) 1,602,881 (651,832) 2,690,566  
Basic $ (0.08) $ 0.06 $ (0.09) $ 0.11  
Diluted $ (0.08) $ 0.06 $ (0.09) $ 0.11  
Financial Position          
Cash and equivalents 7,287,715   7,287,715   3,245,529
Restricted cash 73,090,132   73,090,132   64,467,142
Accounts receivable, net 39,595,476   39,595,476   35,642,961
Inventories, net 16,515,223   16,515,223   7,059,829
Other receivables and prepaid expenses 12,694,636   12,694,636   10,580,693
Advance to suppliers 475,909   475,909   3,004,016
Notes receivable 2,150,223   2,150,223   548,218
Due from related parties 15,049,314   15,049,314   18,322,784
Construction in progress deposit 0   0   243,747
Property, plant and equipment, net 1,114,946   1,114,946   1,293,689
Intangible assets, net 0   0   342,682
Total current assets 167,973,574   167,973,574   144,751,290
Total Assets of Discontinued Operations 167,973,574   167,973,574   144,751,290
Short-term loans 43,170,479   43,170,479   21,187,680
Notes payable 44,937,634   44,937,634   28,156,022
Accounts payable 34,364,212   34,364,212   16,255,076
Accrued expenses and other payables 19,440   19,440   1,013,986
Advances from customers 259,760   259,760   1,039,775
Taxes payable (1,669,764)   (1,669,764)   (2,341,883)
Interest payable 0   0   110,835
Dividends payable 641,920   641,920   628,890
Due to related parties 43,124,324   43,124,324   72,298,478
Total current liabilities 164,848,005   164,848,005   138,348,859
Total Liabilities of Discontinued Operations 164,848,005   164,848,005   138,348,859
Net Assets of Discontinued Operations $ 3,125,569   $ 3,125,569   $ 6,402,431