v2.4.0.6
CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (USD $)
Total
Derivative Financial Instruments, Liabilities
Warrant
Derivative Financial Instruments, Liabilities
Put Option
Ordinary Shares
Paid-in Capital
Paid-in Capital
Derivative Financial Instruments, Liabilities
Warrant
Paid-in Capital
Derivative Financial Instruments, Liabilities
Put Option
Retained Earnings Statutory Reserves
Retained Earnings Unrestricted
Accumulated Other Comprehensive Income
BEGINNING BALANCE at Dec. 31, 2008 $ 21,780,443     $ 14,300 $ 14,183,916     $ 571,035 $ 4,950,920 $ 2,060,272
BEGINNING BALANCE (in shares) at Dec. 31, 2008       14,300,000            
Shareholder contribution 3,080,000       3,080,000          
Net income 7,159,073               7,159,073  
Adjustment for statutory reserve               715,907 (715,907)  
Foreign currency translation adjustment (16,864)                 (16,864)
ENDING BALANCE at Dec. 31, 2009 32,002,652     14,300 17,263,916     1,286,942 11,394,086 2,043,408
BEGINNING BALANCE (in shares) at Dec. 31, 2009       14,300,000            
Shares issued for recapitalization (in shares)       1,027,933            
Shares issued for recapitalization 4,502,965     1,028 4,501,937          
Shares placed in escrow (in shares)       766,823            
Shares placed in escrow 767     767            
Shareholder contribution 366,780       366,780          
Shares issued for secondary offering (in shares)       1,333,333            
Shares issued for secondary offering 5,294,395     1,333 5,293,062          
Reclassification to derivative liabilities   (1,243,692) (2,000,000)     (1,243,692) (2,000,000)      
Net income 19,931,589               19,931,589  
Adjustment for statutory reserve               2,273,896 (2,273,896)  
Foreign currency translation adjustment 1,772,063                 1,772,063
ENDING BALANCE at Dec. 31, 2010 60,627,519     17,428 24,182,003     3,560,838 29,051,779 3,815,471
ENDING BALANCE (in shares) at Dec. 31, 2010       17,428,089            
Shares issued for secondary offering (in shares)       80,267            
Shares issued for secondary offering 373,242     80 373,162          
Shares repurchased and cancelled pursuant to the Put Option (Note 13) (in shares)       (250,000)            
Shares repurchased and cancelled pursuant to the Put Option (Note 13)       (250) 250          
Net income 16,619,057               16,619,057  
Adjustment for statutory reserve               2,131,096 (2,131,096)  
Realization of foreign currency translation gain relating to disposal of subsidiarie (3,815,471)                 (3,815,471)
Reclassification of statutory reserve upon disposal of subsidiaries               (5,637,903) 5,637,903  
Foreign currency translation adjustment 83,757                 83,757
ENDING BALANCE at Dec. 31, 2011 $ 73,888,104     $ 17,258 $ 24,555,415     $ 54,031 $ 49,177,643 $ 83,757
ENDING BALANCE (in shares) at Dec. 31, 2011       17,258,356