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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities    
Net income $ 7,245,672 $ 8,099,082
Adjustments to reconcile net income to net cash provided by operating activities    
Issuance of common stock and stock options for compensation 1,122,228 1,475,164
Depreciation and amortization 11,022,885 11,749,194
Impairment of assets   0
Loss on disposal of property, plant and equipment 349 0
Changes in operating assets    
Accounts receivable (1,617,744) 13,714,334
Other current assets 42,097 (48,687)
Inventories (8,249,452) (25,081,049)
Advances to suppliers (30,383,448) (5,175,552)
Other assets 22,860 (22,310)
Changes in operating liabilities    
Accounts payable 595,769 (565,539)
Customer deposits 30,922,425 11,163,038
Tax payables (3,950,618) 2,011,259
Accrued expenses and other payables 283,090 111,790
Amount due to related parties 0 0
Net cash provided by operating activities 7,056,113 17,430,724
Cash flows from investing activities    
Purchase of plant, property, and equipment (2,590) (231,115)
Proceeds from other receivables 0 1,963,830
Deferred assets 0 (4,291,918)
Net cash used in investing activities (2,590) (2,559,203)
Cash flows from financing activities    
Proceeds from the sale of common stock 0 200,000
Proceeds from loans 3,192,000 4,869,000
Repayment of loans (5,107,200) (5,923,950)
Payment of dividends 0  
Advance from related party 0 200,400
Net cash used in financing activities (1,915,200) (654,550)
Effect of exchange rate change on cash and cash equivalents (3,759,955) 8,724
Net increase in cash and cash equivalents 1,378,368 14,225,695
Cash and cash equivalents, beginning balance 92,982,564 26,890,321
Cash and cash equivalents, ending balance 94,360,932 41,116,016
Supplement disclosure of cash flow information    
Interest expense paid 429,035 455,744
Income taxes paid $ 5,728,060 $ 0