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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Revenue    
Sales of systems   $ 11,271,254
Contingent rental income 147,553 291,895
Total revenue 147,553 11,563,149
Cost of sales    
Cost of systems 14,383 8,456,032
Total cost of sales 14,383 8,456,032
Gross profit 133,170 3,107,117
Interest income on sales-type leases 4,814,250 5,138,303
Total operating income 4,947,420 8,245,420
Operating expenses    
General and administrative 779,555 1,767,689
Income from operations 4,167,865 6,477,731
Non-operating income (expenses)    
Interest income 26,906 34,781
Interest expense (2,601,234) (2,525,961)
Changes in fair value of conversion feature liability 1,127,400 2,533,594
Other expenses (92,046) (42,110)
Total non-operating income (expenses), net (1,538,974) 304
Income before income tax 2,628,891 6,478,035
Income tax expense 487,392 1,395,930
Income before noncontrolling interest 2,141,499 5,082,105
Less: Income attributable to noncontrolling interest 118,934 519,138
Net income attributable to China Recycling Energy Corp 2,022,565 4,562,967
Other comprehensive items    
Foreign currency translation gain attributable to China Recycling Energy Corp 122,886 981,872
Foreign currency translation gain attributable to noncontrolling interest 5,019 36,552
Comprehensive income attributable to China Recycling Energy Corp 2,145,451 5,544,839
Comprehensive income attributable to noncontrolling interest $ 123,953 $ 555,690
Basic weighted average shares outstanding 46,474,350 39,198,982
Diluted weighted average shares outstanding 53,009,813 [1] 55,126,048 [1]
Basic earnings per share $ 0.04 $ 0.12
Diluted earnings per share $ 0.04 [1] $ 0.09 [1]
[1] Interest expense accrued on convertible notes is added back to net income for the computation of diluted EPS.