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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
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Dec. 31, 2014
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Dec. 31, 2013
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Dec. 31, 2012
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| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income (loss) | $ (2,288)us-gaap_NetIncomeLoss | $ 8,444us-gaap_NetIncomeLoss | $ 4,213us-gaap_NetIncomeLoss |
| Adjustments to reconcile net income to cash provided by (used in) operating activities: | |||
| Depreciation | 19us-gaap_Depreciation | 76us-gaap_Depreciation | 69us-gaap_Depreciation |
| Bad debt provision | 98us-gaap_ProvisionForDoubtfulAccounts | ||
| Change in fair value of warrant derivative liability | (19)us-gaap_GainLossOnDerivativeInstrumentsNetPretax | 3us-gaap_GainLossOnDerivativeInstrumentsNetPretax | (75)us-gaap_GainLossOnDerivativeInstrumentsNetPretax |
| Share-based compensation expenses | 538us-gaap_ShareBasedCompensation | 225us-gaap_ShareBasedCompensation | 273us-gaap_ShareBasedCompensation |
| Deferred income taxes | 314us-gaap_DeferredIncomeTaxExpenseBenefit | ||
| Change in operating assets | |||
| Accounts receivable, trade | 14,275us-gaap_IncreaseDecreaseInAccountsReceivable | 10,953us-gaap_IncreaseDecreaseInAccountsReceivable | (39,496)us-gaap_IncreaseDecreaseInAccountsReceivable |
| Notes receivable | 1,316us-gaap_IncreaseDecreaseInNotesReceivableCurrent | (1,294)us-gaap_IncreaseDecreaseInNotesReceivableCurrent | |
| Other receivables and prepayments | 521us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets | (561)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets | 587us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets |
| Inventories | 2,009us-gaap_IncreaseDecreaseInInventories | (1,093)us-gaap_IncreaseDecreaseInInventories | 34,557us-gaap_IncreaseDecreaseInInventories |
| Prepaid income tax | (17)us-gaap_IncreaseDecreaseInPrepaidTaxes | ||
| Advances to suppliers | (42,814)us-gaap_IncreaseDecreaseInPrepaidSupplies | (4,344)us-gaap_IncreaseDecreaseInPrepaidSupplies | (23,797)us-gaap_IncreaseDecreaseInPrepaidSupplies |
| Other current assets | 53us-gaap_IncreaseDecreaseInOtherCurrentAssets | 31us-gaap_IncreaseDecreaseInOtherCurrentAssets | (16)us-gaap_IncreaseDecreaseInOtherCurrentAssets |
| Change in operating liabilities | |||
| Accounts payable, trade | 13,495us-gaap_IncreaseDecreaseInAccountsPayableTrade | (10,195)us-gaap_IncreaseDecreaseInAccountsPayableTrade | 7,390us-gaap_IncreaseDecreaseInAccountsPayableTrade |
| Other payables and accrued liabilities | 1,943us-gaap_IncreaseDecreaseInOtherAccountsPayable | 141us-gaap_IncreaseDecreaseInOtherAccountsPayable | (164)us-gaap_IncreaseDecreaseInOtherAccountsPayable |
| Customer deposits | (200)us-gaap_IncreaseDecreaseInCustomerDeposits | (189)us-gaap_IncreaseDecreaseInCustomerDeposits | 997us-gaap_IncreaseDecreaseInCustomerDeposits |
| Taxes payable | 385us-gaap_IncreaseDecreaseInAccruedTaxesPayable | (1,225)us-gaap_IncreaseDecreaseInAccruedTaxesPayable | 1,575us-gaap_IncreaseDecreaseInAccruedTaxesPayable |
| Net cash (used in) provided by operating activities | (10,784)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | 1,384us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | (13,887)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Proceeds from disposal of a subsidiary, net of cash disposed of $25 | (25)us-gaap_PaymentsForProceedsFromBusinessesAndInterestInAffiliates | 18,734us-gaap_PaymentsForProceedsFromBusinessesAndInterestInAffiliates | |
| Purchase of equipment and construction-in-progress | (32)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (106)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | |
| Net cash (used in) provided by investing activities | (25)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations | (32)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations | 18,628us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from short-term loan | 6,668us-gaap_ProceedsFromShortTermDebt | 6,230us-gaap_ProceedsFromShortTermDebt | |
| Payments on short-term loan | (2,599)us-gaap_RepaymentsOfShortTermDebt | (6,230)us-gaap_RepaymentsOfShortTermDebt | |
| Proceeds from loan from a shareholder | 600us-gaap_ProceedsFromRelatedPartyDebt | ||
| Payments on loan from a shareholder | (500)sgoc_RepaymentsOfRelatedPartyShortTermDebt | (209)sgoc_RepaymentsOfRelatedPartyShortTermDebt | |
| Net cash (used in) provided by financing activities | (2,499)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations | 229us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations | 6,230us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations |
| EFFECT OF EXCHANGE RATE ON CASH | (97)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents | 368us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents | 42us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents |
| INCREASE (DECREASE) IN CASH | (13,405)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | 1,949us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | 11,013us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
| CASH, beginning of year | 13,497us-gaap_CashAndCashEquivalentsAtCarryingValue | 11,548us-gaap_CashAndCashEquivalentsAtCarryingValue | 535us-gaap_CashAndCashEquivalentsAtCarryingValue |
| CASH, end of year | 92us-gaap_CashAndCashEquivalentsAtCarryingValue | 13,497us-gaap_CashAndCashEquivalentsAtCarryingValue | 11,548us-gaap_CashAndCashEquivalentsAtCarryingValue |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | |||
| Cash paid for interest | 304us-gaap_InterestPaid | 260us-gaap_InterestPaid | 61us-gaap_InterestPaid |
| Cash paid for income taxes | 963us-gaap_IncomeTaxesPaid | 3,205us-gaap_IncomeTaxesPaid | 575us-gaap_IncomeTaxesPaid |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES | |||
| Receivable from the sale of a subsidiary | 91,379sgoc_ConsiderationReceivableFromTheSaleOfSubsidiary | ||
| Settlement of consideration receivable - received in finished goods | $ 38,397sgoc_SettlementOfConsiderationReceivableReceivedInFinishedGoods | ||
| X | ||||||||||
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- Definition
Represents amount of consideration receivable from the sale of a subsidiary. No definition available.
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- Definition
The cash outflow for the payment of a short-term borrowing made from a related party where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. No definition available.
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- Definition
Amount of finished goods consideration receivable. No definition available.
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- Details
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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
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- Definition
Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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
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- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Change in recurring obligations of a business that arise from the acquisition of merchandise, materials, supplies and services used in the production and sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period of all taxes owed but not paid, including income, property and other taxes. No definition available.
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| X | ||||||||||
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- Definition
The increase (decrease) during the period in the amount of customer money held in customer accounts, including security deposits, collateral for a current or future transactions, initial payment of the cost of acquisition or for the right to enter into a contract or agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period of amounts due within one year (or one business cycle) from note holders for outstanding loans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in other obligations due by the reporting entity that are payable within one year (or one business cycle), not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in other current operating assets not separately disclosed in the statement of cash flows. No definition available.
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- Details
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of increase (decrease) of consideration paid in advance for supplies that provide economic benefits in future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of increase (decrease) of consideration paid in advance for income and other taxes that provide economic benefits in future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- 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
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- Definition
The net cash outflow or inflow associated with the acquisition or sale of a business segment during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow from a long-term borrowing made from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Proceeds from Advances from Affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow from a borrowing having initial term of repayment within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow for a borrowing having initial term of repayment within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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