|
CONDENSED CONSOLIDATED BALANCE SHEETS(USD ($))
|
Jun. 30, 2012
|
Dec. 31, 2011
|
| ASSETS |
|
|
| Cash and cash equivalents |
$ 1,107,942 |
$ 3,694,486 |
| Accounts receivable -less allowance for doubtful accounts of $880,587 and $859,509 |
12,414,588 |
12,159,842 |
| Other receivables |
4,192,759 |
2,522,136 |
| Prepayment and other current assets |
7,288,515 |
6,714,001 |
| Inventories, net |
4,799,302 |
5,532,311 |
| Tax receivable |
503,853 |
888,452 |
| Deferred tax asset |
117,110 |
118,030 |
| Total Current Assets |
30,424,069 |
31,629,258 |
| Property and equipment, net |
3,063,366 |
3,348,533 |
| Intangible assets, net |
2,393,781 |
0 |
| Total Assets |
35,881,216 |
34,977,791 |
| LIABILITIES AND EQUITY |
|
|
| Short-term borrowings |
2,360,295 |
1,585,890 |
| Accounts payable |
39,040 |
32,925 |
| Advances from customers |
237,653 |
303,000 |
| Accrued expenses and other current liabilities |
319,836 |
349,158 |
| Taxes payable |
425,089 |
2,042,048 |
| Warranty obligation |
332,072 |
334,680 |
| Total Current Liabilities |
3,713,985 |
4,647,701 |
| OTHER LIABILITIES |
|
|
| Warrants liability |
286,041 |
96,469 |
| Total Liabilities |
4,000,026 |
4,744,170 |
| Commitments and Contingency |
|
|
| Equity |
|
|
| Common shares, $0.002731 par value, 18,307,038 shares authorized, 4,570,000 and 4,560,000 shares issued and outstanding at June 30, 2012 and December 31, 2011, respectively |
12,481 |
12,454 |
| Additional paid in capital |
13,359,602 |
13,281,374 |
| Retained earnings |
14,757,972 |
12,941,572 |
| Accumulated other comprehensive income |
2,359,421 |
2,585,488 |
| Total Dehaier Medical Systems Limited shareholders' equity |
30,489,476 |
28,820,888 |
| Non-controlling interest |
1,391,714 |
1,412,733 |
| Total equity |
31,881,190 |
30,233,621 |
| Total liabilities and equity |
$ 35,881,216 |
$ 34,977,791 |