XML 28 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)
Mar. 31, 2014
Dec. 31, 2013
Current Assets:    
Cash and cash equivalents $ 5,291,959 $ 5,993,139
Banker's acceptances 64,474 336,003
Trade accounts receivable, less allowance for doubtful accounts of $16,468,452 and $13,301,622, respectively 42,338,373 45,147,602
Other receivables, less allowance for doubtful accounts of $47,973 and $43,064, respectively 203,304 175,739
Advances to suppliers 7,083,626 7,626,716
Inventory, less allowance for obsolescence of $7,960,027 and $8,027,126, respectively 22,894,014 24,677,120
Total Current Assets 77,875,750 83,956,319
Advances for purchases of intangible assets 41,352,971 41,701,505
Property and equipment, net of accumulated depreciation of $5,420,743 and $5,264,350, respectively 33,515,040 30,241,337
Intangible assets, net of accumulated amortization of $3,877,440 and $3,812,992, respectively 1,601,170 1,711,793
TOTAL ASSETS 154,344,931 157,610,954
Current Liabilities:    
Trade accounts payable 2,181,848 1,877,437
Accrued expenses 287,581 323,651
Other payables 1,253,823 1,312,361
Advances from customers 1,782,371 2,228,238
Other payables - related parties 1,354,567 1,354,567
Short-term notes payable 4,868,628 4,909,662
Total Current Liabilities 11,728,818 12,005,916
Non-current Liabilities:    
Construction loan facility 12,983,008 12,484,183
Long-term deferred tax liability 194,141 176,414
Total Liabilities 24,905,967 24,666,513
Stockholders' Equity:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued or outstanding 0 0
Common stock, $0.001 par value; 95,000,000 shares authorized; 43,579,557 shares and 43,579,557 shares outstanding, respectively 43,580 43,580
Additional paid-in capital 23,590,204 23,590,204
Retained earnings 86,505,783 88,896,276
Accumulated other comprehensive income 19,299,397 20,414,381
Total Stockholders' Equity 129,438,964 132,944,441
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 154,344,931 $ 157,610,954