|
Consolidated Statements of Income (USD $)
|
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2011
|
Jun. 30, 2010
|
Jun. 30, 2011
|
Jun. 30, 2010
|
|
| Sales revenue | $ 25,071,628 | $ 16,754,718 | $ 45,364,436 | $ 30,019,190 |
| Cost of goods sold | (19,288,162) | (13,375,438) | (34,714,962) | (23,481,135) |
| Gross profit | 5,783,466 | 3,379,280 | 10,649,474 | 6,538,055 |
| Operating costs and expenses | ||||
| Selling expenses | 456,273 | 498,088 | 828,261 | 732,806 |
| Depreciation | 61,578 | 49,074 | 122,297 | 66,579 |
| Other general and administrative expenses | 516,116 | 811,643 | 933,830 | 2,634,622 |
| Research and development | 203,411 | 328,150 | 384,097 | 493,394 |
| Total operating costs and expenses | 1,237,378 | 1,686,955 | 2,268,485 | 3,927,401 |
| Income from operations | 4,546,088 | 1,692,325 | 8,380,989 | 2,610,654 |
| Interest expense, net | (384,944) | (244,883) | (679,865) | (486,790) |
| Change in fair value of derivative liability | 154,758 | 1,060,860 | 578,001 | (664,373) |
| Other income (expense), net | (1,783) | 26 | (6,472) | (60,355) |
| Total other income (expenses) | (231,969) | 816,003 | (108,336) | (1,211,518) |
| Income before income tax | 4,314,119 | 2,508,328 | 8,272,653 | 1,399,136 |
| Income Tax Expense | (647,929) | (238,383) | (1,220,491) | (596,558) |
| Net Income | $ 3,666,190 | $ 2,269,945 | $ 7,052,162 | $ 802,578 |
| Earnings per share - basic | $ 0.1 | $ 0.06 | $ 0.19 | $ 0.02 |
| Weighted-average shares outstanding, basic | 36,888,000 | 36,111,714 | 36,888,000 | 33,175,227 |
| Earnings per share - diluted | $ 0.1 | $ 0.06 | $ 0.19 | $ 0.02 |
| Weighted-average shares outstanding, diluted | 36,888,000 | 36,551,841 | 36,888,000 | 33,833,547 |
| X | ||||||||||
|
- Definition
Total costs related to goods produced and sold during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues.
|
| X | ||||||||||
|
- Definition
The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations.
|
| X | ||||||||||
|
- Definition
The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Expenses recognized in the period that are directly related to the selling and distribution of products or services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|