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CONSOLIDATED BALANCE SHEETS (USD $)
Mar. 31, 2012
Mar. 31, 2011
Current assets:    
Cash and cash equivalents $ 562,948 $ 1,583,284
Accounts receivable, net of allowances 1,641,868 3,312,051
Inventories 387,481 133,539
Advance taxes 41,452 41,452
Deferred income taxes 0 0
Dues from related parties 0 0
Prepaid expenses and other current assets 2,586,514 1,474,838
Total current assets 5,220,263 6,545,164
Goodwill 965,738 410,454
Intangible assets 3,838,090  
Property, plant and equipment, net 8,491,796 1,231,761
Investments in affiliates 5,109,058 6,428,800
Investments-others 637,620 877,863
Deferred income taxes (14,076)  
Restricted cash 12,773 1,919,404
Other non-current assets 998,816 748,623
Total assets 25,260,078 18,162,069
Current liabilities:    
Short term borrowings and current portion of long term debt 210,010 901,343
Trade payables 337,145 1,311,963
Accrued expenses 916,710 349,149
Notes payable 1,800,000 3,920,000
Dues to related parties 310,681  
Deferred tax liabilities 135,980  
Loans others 222,389  
Other current liabilities 563,105 94,892
Total current liabilities 4,496,020 6,577,347
Deferred income taxes 713,897  
Other non-current liabilities 4,233,978 1,209,479
Total liabilities 9,443,895 7,786,826
Shares potentially subject to rescission rights (4,868,590 shares issued and outstanding)   3,082,384
Stockholders' equity:    
Common stock — $0001 par value; 150,000,000 shares authorized; 60,061,737 issued and outstanding at March 31, 2012 and 14,890,181 issued and outstanding at March 31, 2011 6,007 1,490
Additional paid-in capital 54,821,952 38,860,319
Accumulated other comprehensive income (2,542,453) (2,502,596)
Retained earnings (Deficit) (37,444,832) (29,692,907)
Total equity attributable to the parent 14,840,674 6,666,306
Non-controlling interest 975,509 626,553
Total stockholders’ equity 15,816,183 7,292,859
Total liabilities and stockholders' equity $ 25,260,078 $ 18,162,069