XML 52 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2013
Dec. 31, 2012
CURRENT ASSETS    
Cash & equivalents $ 7,701,530 $ 45,004,304
Restricted cash 2,296,249 2,725,002
Accounts receivable 71,573 81,819
Current portion of investment in sales type leases, net 9,063,386 10,389,028
Interest receivable on sales type leases 765,010 912,467
Prepaid expenses 1,045,802 49,581
Other receivables 1,813,220 121,109
Notes receivable 656,071 0
Advance to related party 0 440,987
Prepaid interest on trust loans 0 816,164
Prepaid loan fees - current 83,649 81,139
Total current assets 23,496,490 60,621,600
NON-CURRENT ASSETS    
Prepaid loan fees - noncurrent 125,474 202,848
Investment in sales type leases, net 175,441,561 118,021,435
Long term investment 738,513 0
Long term deposit 385,073 388,508
Property and equipment, net 44,243 68,305
Construction in progress 83,719,596 22,993,905
Total non-current assets 260,454,459 141,675,001
TOTAL ASSETS 283,950,949 202,296,601
CURRENT LIABILITIES    
Accounts payable 2,642,662 239,722
Notes payable - bank acceptances 5,740,622 3,659,216
Taxes payable 1,560,829 1,372,535
Accrued liabilities and other payables 1,517,191 1,534,829
Due to related parties 2,420,391 0
Deferred tax liability 1,442,317 2,471,925
Bank loans payable - current 14,925,618 13,523,188
Trust loans payable - current 0 31,421,526
Interest payable on trust loans 0 317,962
Cinda note payable 0 3,766,694
Accrued interest on Cinda note 0 383,929
Interest payable on entrusted loans 287,887 0
Current portion of long term payable 1,441,051 1,292,185
Total current liabilities 31,978,568 59,983,711
NONCURRENT LIABILITIES    
Deferred tax liability, net 11,884,068 6,565,618
Refundable deposit from customers for systems leasing 1,164,526 588,656
Long term payable 2,385,422 3,711,658
Bank loans payable 18,862,045 12,091,321
Entrusted loan payable 62,654,792 0
Total noncurrent liabilities 96,950,852 22,957,253
Total liabilities 128,929,421 82,940,964
CONTINGENCIES AND COMMITMENTS 0 0
STOCKHOLDERS' EQUITY    
Common stock, $0.001 par value; 100,000,000 shares authorized, 60,910,058 and 50,224,350 shares issued and outstanding as of December 31, 2013 and 2012 respectively 60,910 50,225
Additional paid in capital 78,130,053 58,501,642
Statutory reserve 9,672,754 7,766,002
Accumulated other comprehensive income 16,209,403 11,554,225
Retained earnings 50,603,291 37,107,107
Total Company stockholders' equity 154,676,411 114,979,201
Noncontrolling interest 345,117 4,376,436
Total equity 155,021,528 119,355,637
TOTAL LIABILITIES AND EQUITY $ 283,950,949 $ 202,296,601