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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities    
Net income $ 1,949,145 $ 1,669,625
Adjustments to reconcile net income to net cash used in operating activities    
Stock-based compensation expense 59,300 0
Depreciation and amortization 219,976 172,314
Change in fair value of warrants liability (149,867) (18,394)
Recovery of doubtful accounts 0 (25,680)
Recovery of inventory obsolescence 0 (1,922)
Changes in assets and liabilities:    
Increase in accounts receivable (3,451,269) (1,950,032)
Increase in prepayments and other current assets (4,240,759) (2,920,603)
Decrease (Increase) in other receivables 2,810 (1,266,137)
Decrease (Increase) in inventories 96,299 (837,443)
Increase in tax receivable (911,942) (563,918)
Increase (Decrease) in accounts payable 1,153,882 (77,095)
Decrease in advances from customers (116,220) (81,647)
Increase in accrued expenses and other current liabilities 9,502 159,880
Increase in tax payable 2,022,812 1,118,579
Net cash provided by (used in) operating activities (3,356,331) (4,622,473)
Cash flows from investing activities    
Capital expenditures and other additions (62,302) (94,397)
Advances to related parties (2,358) (3,861)
Net cash used in investing activities (64,660) (98,258)
Cash flows from financing activities    
Proceeds from bank loan 1,542,680 0
Repayment of bank loan (1,533,604) 0
Net proceeds from issuance of common shares 0 9,944,207
Net cash used in financing activities 9,076 9,944,207
Effect of exchange rate fluctuations on cash and cash equivalents 496,552 164,812
Net (decrease) increase in cash and cash equivalents (2,915,363) 5,388,288
Cash and cash equivalents at beginning of period 5,923,386 1,151,721
Cash and cash equivalents at end of period 3,008,023 6,540,009
Supplemental cash flow information    
Income tax paid 13,260 24,604
Interest paid $ 26,993 $ 26,728