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CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $)
Preferred Stock
Common stock
Treasury stock
Shares to be issued
Additional paid-in capital
Statutory surplus reserve
Accumulated other comprehensive income
Retained earnings (deficit)
Total
Noncontrolling interest
Beginning balance at Dec. 31, 2011 $ 0 $ 23,866 $ (7,322) $ 100 $ 44,670,670 $ 682,528 $ 2,081,429 $ 28,373,724 $ 75,824,995 $ 3,324,403
Beginning balance, shares at Dec. 31, 2011 0 2,386,624                
Issuance of shares for services   4,907    73 6,476,817          6,481,797  
Issuance of shares for services, shares   490,720                
Shares issued to replace cancelled options   303       143,106          143,409  
Shares issued to replace cancelled options, shares   30,280                
Shares issued against shares to be issued   173    (173) 1,557          1,557  
Shares issued against shares to be issued, shares   17,263                
Shares issued to employees   72       648          720  
Shares issued to employees, shares   7,250                
Stock options expense            790,355          790,355  
Foreign currency translation                  1,977,228    1,977,228 26,540
Net loss                     (32,452,511) (32,452,511) (350,094)
Appropriated statutory surplus reserve               20,011    (20,011)     
Ending balance at Dec. 31, 2012 0 29,321 (7,322)    52,083,153 702,539 4,058,657 (4,098,798) 52,767,550 3,000,849
Ending balance, shares at Dec. 31, 2012 0 2,932,137                
Shares issued to directors and consultants   766       1,480,266          1,481,052  
Shares issued to directors and consultants,shares   76,600                
Stock options expense            135,718          135,718  
Foreign currency translation                  (3,241,292)    (3,241,292) (356,630)
Capital Injection by Tongguang Group                           2,679,883
Dividends paid                           (1,079,061)
Net loss                     (38,861,687) (38,861,687) (4,794,010)
Appropriated statutory surplus reserve               25,283    (25,283)     
Ending balance at Dec. 31, 2013 $ 0 $ 30,087 $ (7,322)    $ 53,699,157 $ 727,822 $ 817,365 $ (42,985,768) $ 12,281,341 $ (548,969)
Ending balance, shares at Dec. 31, 2013 0 3,008,737