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Consolidated Balance Sheets (USD $)
Dec. 31, 2011
Dec. 31, 2010
CURRENT ASSETS:    
Cash and cash equivalents $ 1,152,607 $ 947,177
Restricted cash 314,233 0
Notes receivable 53,420 50,593
Accounts receivable, net of allowance for doubtful accounts 7,087,958 8,207,797
Inventories, net of reserve for obsolete inventory 4,276,090 3,371,128
Advances to suppliers 219,347 333,923
Prepaid VAT on purchases 1,512,213 2,759,763
Prepaid expenses and other 110,670 36,338
Total Current Assets 14,726,538 15,706,719
PROPERTY AND EQUIPMENT - net 64,042,079 54,742,993
OTHER ASSETS:    
Land use rights, net 3,820,536 3,767,159
Total Assets 82,589,153 74,216,871
CURRENT LIABILITIES:    
Short-term bank loans 2,356,749 1,814,937
Bank acceptance notes payable 314,233 0
Accounts payable 4,997,109 7,660,768
Accrued expenses 771,597 526,006
Capital lease obligations- current portion 244,747 0
VAT and service taxes payable 0 81,614
Advances from customers 1,166,942 236,004
Income taxes payable 592,202 1,331,713
Total Current Liabilities 10,443,579 11,651,042
OTHER LIABILITIES:    
Capital lease obligations - net of current portion 381,235 0
Total Liabilities 10,824,814 11,651,042
STOCKHOLDERS' EQUITY:    
Preferred stock $0.001 par value (30,000,000 shares authorized, all of which were designated as series A convertible preferred, 10,995,807 and 16,205,268 shares issued and outstanding at December 31, 2011 and 2010, respectively) 10,996 16,205
Common stock ($0.001 par value; 50,000,000 shares authorized; 2,101,849 and 1,875,113 shares issued and outstanding at December 31, 2011 and 2010, respectively) 2,102 1,875
Additional paid-in capital 27,489,600 26,595,929
Retained earnings 34,618,341 29,264,152
Statutory reserve 2,064,551 1,658,197
Accumulated other comprehensive gain - foreign currency translation adjustment 7,578,749 5,029,471
Total Stockholders' Equity 71,764,339 62,565,829
Total Liabilities and Stockholders' Equity $ 82,589,153 $ 74,216,871