Financials

v2.4.0.6
Consolidated Balance Sheets (USD $)
Mar. 31, 2013
Jun. 30, 2012
Current Assets    
Cash and cash equivalents $ 66,271,537 $ 64,819,870
Restricted cash 207,201 124,433
Accounts receivable, net 6,468,644 9,388,820
Notes receivable   167,873
Other receivables (Note 4) 2,945,488 2,879,422
Advances to suppliers 4,804,119 2,339,362
Inventories (Note 5) 2,343,192 2,750,907
Total Current Assets 83,040,181 82,470,687
Property, plant and equipment, net (Note 6) 51,697,441 54,068,143
Land use rights, net (Note 7) 2,504,288 2,533,684
Other intangible assets, net (Note 8) 3,839,375 4,524,058
TOTAL ASSETS 141,081,285 143,596,572
Current Liabilities    
Notes payable (Note 9) 207,201 124,433
Accounts payable 1,005,471 1,942,262
Advances from customers 604,452 316,020
Other payables and accrued expenses (Note 10) 623,715 899,491
Income tax payable 0 240,438
Total Current Liabilities 2,440,839 3,522,644
Warrant liabilities 89 1,761
Preferred (conversion option) liabilities 589,982 481,128
TOTAL LIABILITIES 3,030,910 4,005,533
STOCKHOLDERS’ EQUITY    
Preferred stock – $0.001 par value 15,000,000 shares authorized; 1,971,842 and 1,971,842 issued and outstanding; aggregate liquidation preference being $5,000,000 and $5,000,000 as of March 31, 2013 and June 30, 2012, respectively. (Note 12) 1,971 1,971
Common stock - $0.001 par value 100,000,000 shares authorized; 17,196,071 and 17,196,071 shares issued and outstanding as of March 31, 2013 and June 30, 2012, respectively. 17,197 17,197
Additional paid-in capital 72,277,648 71,695,567
Statutory reserves 11,196,604 11,196,604
Retained earnings 41,942,066 45,091,511
Accumulated other comprehensive income 12,614,889 11,588,189
TOTAL STOCKHOLDER’S EQUITY 138,050,375 139,591,039
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 141,081,285 $ 143,596,572
v2.4.0.6
Consolidated Statements of Operations And Comprehensive Income (USD $)
 3 Months Ended 9 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2013
Mar. 31, 2012
Revenues $ 2,962,309 $ 5,680,510 $ 11,557,537 $ 26,985,465
Cost of sales (2,158,649) (3,058,282) (7,574,267) (15,221,094)
Gross profit 803,660 2,622,228 3,983,270 11,764,371
Operating expenses:        
Selling expenses (704,123) (727,696) (1,910,775) (2,803,429)
General and administrative expenses (1,566,375) (2,172,307) (5,358,769) (7,618,949)
Total operating expenses (2,270,498) (2,900,003) (7,269,544) (10,422,378)
(Loss) Income from operations (1,466,838) (277,775) (3,286,274) 1,341,993
Other income, net 2,294 20,802 16,046 74,843
Interest income, net 122,093 371,290 379,527 717,972
Changes in fair value of instruments - (loss) gain (91,358) 79,808 (107,182) 1,836,530
Income before income taxes (1,433,809) 194,125 (2,997,883) 3,971,338
Income taxes (Note 14)   (297,362) (151,562) (1,348,153)
Net (loss) income (1,433,809) (103,237) (3,149,445) 2,623,185
Foreign currency translation adjustment 597,370 881,061 1,026,699 3,092,543
Comprehensive (loss) income $ (836,439) $ 777,824 $ (2,122,746) $ 5,715,728
Basic (loss) earnings per share* (Note 15) (in Dollars per share) $ (0.08) $ (0.01) $ (0.18) $ 0.16
Diluted (loss) earnings per share* (Note 15) (in Dollars per share) $ (0.08) $ (0.01) $ (0.18) $ 0.14
Basic weighted average shares outstanding* (Note 15) (in Shares) 17,196,229 16,638,307 17,196,226 16,550,398
Diluted weighted average shares outstanding* (Note 15) (in Shares) 17,196,229 16,638,307 17,196,226 18,138,809
v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
 9 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flows from operating activities    
Net (loss) income $ (3,149,445) $ 2,623,185
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,710,561 2,819,280
Amortization 777,284 768,943
Provision for doubtful accounts 128,719 185,531
(Gain) on disposal of property, plant and equipment   (10,584)
Changes in fair value of instruments – loss (gain) 107,182 (1,836,530)
Stock based compensation 582,081 4,180,178
(Increase) decrease in assets:    
Accounts receivable 2,841,429 6,302,473
Notes receivable 167,620 183,875
Other receivables (47,555) 18,132
Advances to suppliers (2,444,015) (213,519)
Inventories 423,555 (332,232)
Increase (decrease) in liabilities:    
Notes payable 82,751 (1,394,120)
Accounts payable (662,935) (2,887,770)
Advances from customers 286,420 430,011
Other payables (217,483) (1,561,822)
Accruals (62,126)  
Income tax payable (241,106) (1,540,673)
Net cash provided by operating activities 1,282,937 7,734,358
Cash flows from investing activities    
Proceeds from disposition of property, plant and equipment   (487)
Purchase of property, plant and equipment (288,092) (52,973)
Payment of construction in progress   (494,230)
Purchase of intangible assets (20,983)  
Increase in advances to suppliers for purchase of equipment and construction   (132,035)
Decrease/(increase) in restricted cash (82,751) 1,276,189
Net cash provided by (used in) investing activities (391,826) 596,464
Net increase (decrease) in cash and cash equivalents 891,111 8,330,822
   
Effect of exchange rate changes on cash and cash equivalents 560,556 1,361,842
Cash and cash equivalents–beginning of year 64,819,870 59,870,108
Cash and cash equivalents–end of year 66,271,537 69,562,772
   
Interest received 379,551 717,972
Taxes paid 424,711 2,888,824
Non-cash transaction:    
Preferred stock conversion to common stock     
Common stock issuance