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Consolidated Balance Sheets (USD $)
Jun. 30, 2011
Dec. 31, 2010
CURRENT ASSETS:    
Cash and cash equivalents $ 1,624,570 $ 947,177
Restricted cash 154,703 0
Notes receivable 192,655 50,593
Accounts receivable, net of allowance for doubtful accounts 6,768,512 8,207,797
Inventories, net of reserve for obsolete inventory 4,163,082 3,371,128
Advances to suppliers 1,972,876 333,923
Prepaid VAT on purchases 2,060,594 2,759,763
Prepaid expenses and other 241,519 36,338
Total Current Assets 17,178,511 15,706,719
PROPERTY AND EQUIPMENT - net 58,316,962 54,742,993
OTHER ASSETS:    
Land use rights, net 3,807,570 3,767,159
Total Assets 79,303,043 74,216,871
CURRENT LIABILITIES:    
Short-term bank loans 2,320,545 1,814,937
Bank acceptance notes payable 154,703 0
Accounts payable 4,958,936 7,660,768
Accrued expenses 980,089 526,006
VAT and service taxes payable 0 81,614
Advances from customers 1,395,444 236,004
Income taxes payable 748,471 1,331,713
Total Current Liabilities 10,558,188 11,651,042
STOCKHOLDERS' EQUITY:    
Preferred stock $0.001 par value (60,000,000 shares authorized, all of which were designated as series A convertible preferred, 15,975,983 and 16,205,268 shares issued and outstandingat June 30, 2011 and December 31, 2010, respectively 15,976 16,205
Common stock ($0.001 par value; 150,000,000 shares authorized; 19,284,516 and 18,751,128 shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively 19,284 18,751
Additional paid-in capital 27,431,873 26,579,053
Retained earnings 32,802,710 29,264,152
Statutory reserve 1,954,758 1,658,197
Accumulated other comprehensive gain - foreign currency translation adjustment 6,520,254 5,029,471
Total Stockholders' Equity 68,744,855 62,565,829
Total Liabilities and Stockholders' Equity $ 79,303,043 $ 74,216,871