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CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (USD $) | Common Stock | Treasury Stock | Additional Paid-In Capital | Statutory Common Reserve | Retained Earnings | Cumulative Translation Adjustment | Total
--- | --- | --- | --- | --- | --- | --- | ---
Balance at Dec. 31, 2010 | $ 17,368 |  | $ 66,626,584 | $ 10,271,293 | $ 106,500,085 | $ 9,269,864 | $ 192,685,194
Balance, shares at Dec. 31, 2010 | 34,735,912 |  |  |  |  |  |
Translation adjustments |  |  |  |  |  | 12,493,402 | 12,493,402
Common stock repurchased |  | (500,000) | 0 | 0 | 0 | 0 | (500,000)
Common stock repurchased, shares | (184,599) | 184,599 |  |  |  |  |
Common stock issued for exercising stock options |  |  | (5) |  |  | 0 | 0
Common stock issued for exercising stock options, shares | 9,430 |  |  |  |  |  | (12,500)
Issuance of warrants to non-employees |  |  | 452,000 | 0 | 0 | 0 | 452,000
Issuance of stock options to employees |  |  | 7,029,400 | 0 | 0 | 0 | 7,029,400
Net income |  |  |  |  | 30,952,760 |  | 30,952,760
Transfer to statutory common reserve fund |  |  |  |  | (4,138,264) |  |
Balance at Dec. 31, 2011 | 17,373 | (500,000) | 74,107,979 | 14,409,557 | 133,314,581 | 21,763,266 | 243,112,756
Balance, shares at Dec. 31, 2011 | 34,560,743 | 184,599 |  |  |  |  | 34,560,743
Translation adjustments |  |  |  |  |  | 733,013 | 733,013
Common stock repurchased, shares |  |  |  |  |  |  | 0
Issuance of stock options to employees |  |  | 510,500 | 0 | 0 | 0 | 510,500
Common stock issued for acquiring assets | 1,903 |  | 4,870,709 | 0 | 0 | 0 | 4,872,612
Common stock issued for acquiring assets, shares | 3,806,728 |  |  |  |  |  |
Net income |  |  |  |  | 14,995,503 |  | 14,995,503
Transfer to statutory common reserve fund |  |  |  |  | (1,564,330) |  | 0
Balance at Dec. 31, 2012 | $ 19,276 | $ (500,000) | $ 79,489,188 | $ 15,973,887 | $ 146,745,754 | $ 22,496,279 | $ 264,224,384
Balance, shares at Dec. 31, 2012 | 38,367,471 | 184,599 |  |  |  |  | 38,367,471

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