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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities    
Net income $ 12,920,935 $ 12,857,591
Adjustments to reconcile net income to net cash provided by operating activities    
Issuance of common stock and stock options for compensation 1,282,949
Depreciation and amortization 3,434,389 12,115,909
Gain (Loss) on disposal of property, plant and equipment 15,318 109,304
Amortization of debt discount 377,450 155,335
Change in fair value of derivative liability (114,233) (75,918)
Changes in operating assets    
Accounts receivable 19,546,354 (13,023,491)
Amount due from related parties 1,436,875 (395,616)
Other current assets 1,019,062 (467,184)
Inventories (25,678,033) 19,962,979
Advances to suppliers 3,625,303 (3,091,976)
Other assets 974,189 121,719
Changes in operating liabilities    
Accounts payable 2,694,536 564,376
Customer deposits (226,314) (2,875,222)
Tax payables (554,210) (2,146,115)
Accrued expenses and other payables 921,456 (7,029,002)
Interest payable 142,283 113,352
Net cash provided by operating activities 20,535,360 18,178,990
Cash flows from investing activities    
Purchase of plant, property, and equipment (11,758) (74,353)
Change in construction in process (11,328)
Net cash used in investing activities (23,086) (74,353)
Cash flows from financing activities    
Proceeds from loans 153,300
Repayment of loans (1,678,603)
Advance from related party 195,013 300,000
Net cash provided by financing activities (1,330,290) 300,000
Effect of exchange rate change on cash and cash equivalents 3,184,627 (4,726,271)
Net increase in cash and cash equivalents 22,366,611 13,678,366
Cash and cash equivalents, beginning balance 123,050,548 102,896,486
Cash and cash equivalents, ending balance 145,417,158 116,574,852
Supplement disclosure of cash flow information    
Interest expense paid 206,368 231,791
Income taxes paid $ 3,807,803 $ 7,047,713