ZIYANG CERAMICS CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2012
Dec. 31, 2011
CURRENT ASSETS:    
Cash $ 5,757,153 $ 5,871,256
Notes receivable   1,728,340
Loan receivable 3,170,125 3,148,466
Accounts receivable, net of allowance for doubtful accounts 400,117 554,744
Inventories 4,686,336 2,629,125
Prepaid expenses and other current assets 158,849 214,977
Total Current Assets 14,172,580 14,146,908
Property, plant and equipment, net 15,592,141 16,067,234
Long term prepaid expenses 7,874,030 2,796,828
Other long term assets 170,721 236,181
Total Assets 37,809,472 33,247,151
CURRENT LIABILITIES:    
Loans payable-short term 4,755,187 5,588,527
Notes payable - related party   1,007,420
Accounts payable and accrued expenses 1,797,083 2,004,573
Advance from customers 475,247 332,495
Due to related party 2,135 559,325
Taxes payable 809,126 525,851
Derivative liability 203 24,777
Other payables 951,232 1,229,326
Total Current Liabilities 8,790,213 11,272,294
Loans payable-long term 0 236,135
Total Liabilities 8,790,213 11,508,429
SHAREHOLDERS' EQUITY:    
Common stock ($0.001 par value, 500,000,000 shares authorized; 10,001,220 shares and 1,091,812 shares outstanding at June 30, 2012 and December 31, 2011, respectively.) 10,001 1,092
Additional paid-in capital 7,311,603 7,320,512
Retained earnings 20,463,880 13,326,323
Other comprehensive income 1,233,775 1,090,795
Total Shareholders' Equity 29,019,259 21,738,722
Total Liabilities and Shareholders' Equity $ 37,809,472 $ 33,247,151