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Consolidated Balance Sheets (USD $)
Sep. 30, 2011
Dec. 31, 2010
CURRENT ASSETS:  
Cash and cash equivalents$ 518,274$ 947,177
Restricted cash468,6180
Notes receivable150,23050,593
Accounts receivable, net of allowance for doubtful accounts8,153,5228,207,797
Inventories, net of reserve for obsolete inventory5,448,3243,371,128
Advances to suppliers848,256333,923
Prepaid VAT on purchases2,022,0592,759,763
Prepaid expenses and other176,09336,338
Total Current Assets17,785,37615,706,719
PROPERTY AND EQUIPMENT - net60,127,45154,742,993
OTHER ASSETS:  
Deposit on equipment781,0300
Land use rights, net3,821,4803,767,159
Total Assets82,515,33774,216,871
CURRENT LIABILITIES:  
Short-term bank loans2,343,0911,814,937
Bank acceptance notes payable468,6180
Accounts payable5,124,2557,660,768
Accrued expenses599,634526,006
Capital lease obligations- current portion242,8500
VAT and service taxes payable081,614
Advances from customers2,113,577236,004
Income taxes payable651,3101,331,713
Total Current Liabilities11,543,33511,651,042
OTHER LIABILITIES:  
Capital lease obligations- net of current portion419,2330
Total Liabilities11,962,56811,651,042
STOCKHOLDERS' EQUITY:  
Preferred stock $0.001 par value (60,000,000 shares authorized, all of which were designated as series A convertible preferred, 13,375,983 and 16,205,268 shares issued and outstanding at September 30, 2011 and December 31, 2010, respectively)13,37616,205
Common stock ($0.001 par value; 150,000,000 shares authorized; 20,168,813 and 18,751,128 shares issued and outstanding at September 30, 2011 and December 31, 2010, respectively)20,16918,751
Additional paid-in capital27,451,29926,579,053
Retained earnings33,847,63229,264,152
Statutory reserve2,044,8261,658,197
Accumulated other comprehensive gain - foreign currency translation adjustment7,175,4675,029,471
Total Stockholders' Equity70,552,76962,565,829
Total Liabilities and Stockholders' Equity$ 82,515,337$ 74,216,871