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24. Restatement of Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2014
Restatement of Financial Statements | The impact of the restatement on the December 31, 2014 financial statements is reflected in the following tables: CONSOLIDATED BALANCE SHEETS
|  | December 31, 2014 |
|  | As Previously Reported |  |  | As Restated |
Total Assets |  |  | 23,686 |  |  |  | 23,399 |
Total stockholders’ equity |  |  | 17,817 |  |  |  | 17,530 |
Total liabilities and stockholders’ equity |  |  | 23,686 |  |  |  | 23,399 |
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
|  | For the year Ended December 31, 2014 |
|  | As Previously Reported |  |  | As Restated |
Equity in income of affiliates |  |  | 892 |  |  |  | 605 |
Net Loss |  |  | (5 | ) |  |  | (292 | )
Comprehensive loss |  |  | (20 | ) |  |  | (307 | )
Basic and diluted loss per common share |  | $ | US0.08 |  |  | $ | (US0.06 | )
CONSOLIDATED STATEMENTS OF CASH FLOW
|  | For the year Ended December 31, 2014 |
|  | As Previously Reported |  |  | As Restated |
Net Profit / (Loss) |  |  | 164 |  |  |  | (123 | )
Equity in profit of affiliates |  |  | (892 | ) |  |  | (605 | )
ZHEJIANG TIANLAN |
Restatement of Financial Statements | The impact of the restatement on the December 31, 2014 financial statements is reflected in the following tables: CONSOLIDATED BALANCE SHEETS
|  | December, 2014 |
|  | As Previously Reported |  |  | As Restated |
Total current assets |  |  | 392,278 |  |  |  | 379,718 |
Accounts receivable, net (note 6) |  |  | 156,618 |  |  |  | 156,608 |
Prepayments and other current assets (note 7) |  |  | 190,409 |  |  |  | 177,859 |
Property, plant and equipment (Note 9) |  |  | 96,524 |  |  |  | 161,924 |
Total Assets |  |  | 500,938 |  |  |  | 553,778 |
Other payables and accrued expenses |  |  | 49,203 |  |  |  | 113,438 |
Other taxes payable |  |  | 10,681 |  |  |  | 8,902 |
Income tax payable |  |  | 805 |  |  |  | 60 |
Total liabilities |  |  | 335,627 |  |  |  | 397,338 |
Total stockholders’ equity |  |  | 165,311 |  |  |  | 156,440 |
Total liabilities and stockholders’ equity |  |  | 500,938 |  |  |  | 553,778 |
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
|  | For the year Ended December 31, 2014 |
|  | As Previously Reported |  |  | As Restated |
Revenue |  |  | 474,265 |  |  |  | 396,424 |
Cost of revenue |  |  | (380,955 | ) |  |  | (313,776 | )
Income taxes |  |  | (2,559 | ) |  |  | (768 | )
Net income |  |  | 22,879 |  |  |  | 14,008 |
CONSOLIDATED STATEMENTS OF CASH FLOW
|  | For the year Ended December 31, 2014 |
|  | As Previously Reported |  |  | As Restated |
Net income |  |  | 22,879 |  |  |  | 14,008 |
Accounts receivable, net |  |  | (9,491 | ) |  |  | (9,481 | )
Prepayments and other current assets |  |  | (33,249 | ) |  |  | (20,699 | )
Other payables and accrued expenses |  |  | (27,160 | ) |  |  | 37,075 |
Other tax payable |  |  | 2,813 |  |  |  | 1,034 |
Income tax payable |  |  | 296 |  |  |  | (449 | )
Net cash provided by/(used in) operating activities |  |  | 34,928 |  |  |  | 100,328 |
Purchase of property, plant and equipment |  |  | (52,566 | ) |  |  | (117,966 | )
Net cash used in investing activities |  |  | (51,223 | ) |  |  | (116,623 | )

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