XML 39 R75.htm IDEA: XBRL DOCUMENT v2.4.0.8
Discontinued Operations (Details) (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Results of Operations      
Net revenues $ 249,744,183 $ 329,099,574  
Cost of sales 234,624,885 313,699,749  
Gross profit 15,119,298 15,399,825  
Operating expenses 35,270,830 24,463,419  
Operating loss (20,151,532) (9,063,594)  
Other income (expenses), net (2,855,322) (1,936,953)  
Loss before taxes from discontinued operations (23,006,854) (11,000,547)  
less: Provision for income taxes 142,180 178,124  
Loss from discontinued operations, net of tax (23,149,034) (11,178,671)  
Basic and diluted (loss) income per common share from discontinued operations:      
Basic $ (11.66) $ (8.36)  
Diluted $ (11.66) $ (8.36)  
Financial Position      
Cash and equivalents 2,848,859 3,245,529 916,426
Restricted cash 80,658,355 64,467,142  
Notes receivable 669,583 548,218  
Accounts receivable, net 20,225,872 35,642,961  
Inventories, net 18,809,671 7,059,829  
Other receivables and prepaid expenses 2,061,687 10,580,693  
Advance to suppliers 224,913 3,004,016  
Due from related parties 204,509 18,322,784  
Construction in progress deposit 0 243,747  
Property, plant and equipment, net 1,636,316 1,293,689  
Intangible assets, net 0 342,682  
Deferred tax assets, noncurrent 70,136 0  
Total current assets 127,409,901 144,751,290  
Total Assets of Discontinued Operations 127,409,901 144,751,290  
Short-term loans 38,529,498 21,187,680  
Notes payable 42,441,911 28,156,022  
Accounts payable 42,843,584 16,255,076  
Accrued expenses and other payables 19,643 1,013,986  
Advances from customers 97,110 1,039,775  
Taxes payable (4,106,935) (2,341,883)  
Interest payable 0 110,835  
Dividends payable 0 628,890  
Due to related parties 19,284,688 72,298,478  
Total current liabilities 139,109,499 138,348,859  
Total Liabilities of Discontinued Operations 139,109,499 138,348,859  
Net Assets of Discontinued Operations $ (11,699,598) $ 6,402,431