|
Consolidated Balance Sheets (USD $)
|
Sep. 30, 2011
|
Dec. 31, 2010
|
| Assets |
|
|
| Cash and cash equivalents |
$ 4,481,513 |
$ 2,253,976 |
| Restricted cash |
296,016 |
259,228 |
| Accounts receivable, net |
2,623,003 |
1,454,614 |
| Other Receivable |
2,022,869 |
0 |
| Inventory |
882,371 |
1,131,229 |
| Prepaid expenses |
1,365,701 |
525,843 |
| Total current assets |
11,671,473 |
5,624,890 |
| Non-current assets |
|
|
| Plant and equipment, net |
3,203,879 |
3,147,022 |
| Construction in progress |
96,358 |
0 |
| Intangible assets, net |
3,333,824 |
3,236,591 |
| Deposits |
3,124 |
266,266 |
| Total non-current assets |
6,637,185 |
6,649,879 |
| Total Assets |
18,308,658 |
12,274,769 |
| Liabilities and Stockholders' Equity |
|
|
| Bank loans |
468,618 |
453,734 |
| Accounts payable and accruals |
468,932 |
390,240 |
| Taxes payable |
235,684 |
9,261 |
| Total current liabilities |
1,173,234 |
853,235 |
| Non-current liabilities |
|
|
| Related party payable |
76,260 |
1,678,877 |
| Total non-current liabilities |
76,260 |
1,678,877 |
| Total Liabilities |
1,249,494 |
2,532,112 |
| Stockholders' Equity |
|
|
| Common stock, $0.001 par value, 100,000,000 shares authorized; 28,791,267 and 27,312,515 shares issued and outstanding as of September 30, 2011 and December 31, 2010, respectively |
28,791 |
27,313 |
| Additional paid-in capital |
5,481,042 |
931,026 |
| Statutory reserves |
898,271 |
898,271 |
| Retained earnings |
9,912,184 |
7,592,577 |
| Accumulated other comprehensive income |
738,876 |
293,470 |
| Total stockholders' equity |
17,059,164 |
9,742,657 |
| Total Liabilities and Stockholders' Equity |
$ 18,308,658 |
$ 12,274,769 |