XML 54 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Income including noncontrolling interest $ 15,815,806 $ 3,222,504
Adjustments to reconcile income including noncontrolling interest to net cash provided by (used in) operating activities:    
Changes in sales type leases receivables (62,013,135) 0
Shares issued for system purchase 16,481,108 0
Loss on project termination 0 2,968,964
Depreciation and amortization 49,001 50,339
Amortization of prepaid loan fees 82,070 80,792
Amortization of discount related to beneficial conversion feature of convertible note 0 2,140,050
Changes in fair value of conversion feature liability 0 (1,127,400)
Stock options and warrants expenses 0 89,252
Changes in deferred tax 3,933,596 1,000,411
Changes in assets and liabilities:    
Interest receivable on sales type lease 172,368 1,510,166
Collection of principal on sales type leases 10,874,735 8,190,346
Prepaid expenses (150,383) 95,979
Accounts receivable 12,537 18,997,219
Other receivables (1,153,941) 412,918
Construction in progress (58,881,561) 6,542,060
Accounts payable 4,281,365 (652,075)
Taxes payable 143,084 (1,570,961)
Interest payable (39,157) (28,075)
Accrued liabilities and other payables (47,957) 252,987
Accrued interest on convertible notes (383,929) 215,929
Long term refundable deposit from customers 547,134 0
Net cash provided by (used in) operating activities (70,277,259) 42,391,405
CASH FLOWS FROM INVESTING ACTIVITIES:    
Changes of restricted cash 503,363 (2,396,515)
Acquisition of property & equipment (23,321) (1,750)
Long term investment (12,793,704) 0
Net cash used in investing activities (12,313,662) (2,398,265)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Notes receivable (643,687) 82,376
Proceeds from loans 89,633,420 4,752,475
Repayment of loans (44,399,439) (10,297,030)
Long term payable (1,307,011) (1,189,431)
Contribution from noncontrolling interest 400,695 0
Distribution to acquire noncontrolling interest (226,600) 0
Purchase of noncontrolling interest share (1,287,374) 0
Advance to related parties 0 (479,686)
Advance from related parties 2,334,814 (2,935,805)
Net cash provided by (used in) financing activities 44,504,818 (10,067,101)
EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS 783,328 129,012
NET (DECREASE) INCREASE IN CASH & EQUIVALENTS (37,302,774) 30,055,051
CASH & EQUIVALENTS, BEGINNING OF YEAR 45,004,304 14,949,253
CASH & EQUIVALENTS, END OF YEAR 7,701,530 45,004,304
Supplemental cash flow data:    
Income tax paid 3,326,464 3,427,582
Interest paid 14,294,572 9,754,133
Supplemental disclosure of non-cash financing activities    
Conversion of convertible debt into common shares $ 0 $ 3,000,000