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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net income $ 19,764,978 $ 23,230,713
Adjustments to reconcile net income to net cash provided by operating activities    
Issuance of common stock and stock options for compensation 3,014,153 4,344,098
Depreciation and amortization 31,245,614 35,902,903
Loss on disposal of property, plant and equipment 1,375 26,152
Changes in operating assets    
Accounts receivable (9,877,811) 17,421,141
Amount due from related parties (618,198) 0
Other current assets (52,579) (122,023)
Inventories (12,622,730) (47,471,638)
Advances to suppliers 1,440,660 16,603,898
Other assets 53,797 (96,445)
Changes in operating liabilities    
Accounts payable 343,579 938,026
Customer deposits (12,842,647) 248,937
Tax payables (420,814) 6,385,762
Accrued expenses and other payables 456,970 505,846
Amount due to related parties 0 0
Net cash provided by operating activities 19,886,347 57,917,370
Cash flows from investing activities    
Purchase of plant, property, and equipment (16,608) (415,768)
Proceeds from other receivables 0 1,968,670
Deferred assets 0 (9,228,043)
Net cash used in investing activities (16,608) (7,675,141)
Cash flows from financing activities    
Proceeds from the sale of common stock 0 1,872,593
Proceeds from loans 5,626,800 19,702,970
Repayment of loans (23,319,960) (22,403,790)
Payment of dividends 0 (2,161,904)
Advance from related party 200,000 300,400
Net cash used in financing activities (17,493,160) (2,689,731)
Effect of exchange rate change on cash and cash equivalents (4,888,986) 343,032
Net increase in cash and cash equivalents (2,512,407) 47,895,530
Cash and cash equivalents, beginning balance 92,982,564 26,890,321
Cash and cash equivalents, ending balance 90,470,157 74,785,851
Supplement disclosure of cash flow information    
Interest expense paid 943,413 1,179,637
Income taxes paid $ 583,304 $ 836,913