v2.3.0.11
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2011
Dec. 31, 2010
Current assets:    
Cash $ 74,044,694 $ 111,128,070
Accounts receivable, net of allowance for doubtful accounts of $68,938 and $67,392 as of June 30, 2011 and December 31, 2010, respectively 19,509,545 16,084,366
Inventories, net of allowance for obsolescence of nil as of June 30, 2011 and December 31, 2010 8,076,814 5,224,553
Loan receivable and other receivables 1,991,156 1,872,888
Advance to suppliers, net 7,555,536 4,015,313
Deferred tax asset 457,568 447,305
Total Current Assets 111,635,313 138,772,495
Property, plant and equipment, net 107,508,191 57,452,244
Other assets:    
Investment - equity in affiliate 763,973 776,860
Deposit for investment   11,721,468
Deposit for property, plant and equipment 10,040,744 2,307,350
Intangible assets, net - other 13,819,788 13,957,505
Goodwill 5,805,499 2,566,337
Other assets 85,961 44,211
Total other assets 30,515,965 31,373,731
Total Assets 249,659,469 227,598,470
Current liabilities:    
Accounts payable 3,175,085 1,282,410
Accrued expenses, other payables and advances from customers 1,934,301 451,294
Income tax payable 3,027,817 5,887,027
Total Current Liabilities 8,137,203 7,620,731
Long term liabilities:    
Deferred tax liability 3,025,847 3,025,847
Warrant liability 540,419 11,749,803
Total Liabilities Total Liabilities 11,703,469 22,396,381
Commitments and contingencies    
Stockholders' Equity    
Preferred stock, $0.001 face value; 5,000,000 shares authorized; 2 shares issued and 2 shares outstanding as of June 30, 2011 and December 31, 2010. Liquidation preference of $2,000 as of June 30, 2011 and December 31, 2010.    
Common stock, $0.001 par value; 150,000,000 shares authorized; 76,635,015 and 76,619,220 shares issued as of June 30, 2011 and December 31, 2010, respectively. 76,440,434 and 76,424,639 shares outstanding as of June 30, 2011 and December 31, 2010, respectively. 76,635 76,619
Additional paid-in capital – stock and stock equivalents 101,089,033 100,198,536
Accumulated other comprehensive income 16,036,180 11,414,192
Statutory reserve 5,558,455 4,855,774
Retained earnings 115,695,187 89,156,458
Less: Cost of treasury stock (194,581 shares as of June 30, 2011 and December 31, 2010) (499,490) (499,490)
Total Stockholders' Equity 237,956,000 205,202,089
Total Liabilities and Stockholders' Equity $ 249,659,469 $ 227,598,470