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Financials

 
v3.6.0.2
Consolidated Balance Sheets - USD ($)
Sep. 30, 2016
Dec. 31, 2015
CURRENT ASSETS    
Cash and cash equivalents $ 2,532,553 $ 50,006,914
Restricted cash 3,079,956
Accounts receivable, net of allowance of $2,407,160 as of September 30, 2016 and December 31, 2015, respectively 4,169,400 50,062,300
Other receivables 2,866,593 265,079
Inventories 4,732,100 3,444,740
Deferred tax assets 2,326,194 2,326,194
Advances to suppliers and other current assets 18,486,958 3,809,970
TOTAL CURRENT ASSETS 35,113,798 112,995,153
PROPERTY, PLANT AND EQUIPMENT, NET 78,624,516 82,947,233
LAND USE RIGHT, NET 26,056,217 25,867,932
LONG TERM ASSETS 2,897,661 2,979,857
DEPOSITS 134,907,567 45,321,919
Related party receivables 290,976
TOTAL ASSETS 277,599,759 270,403,070
CURRENT LIABILITIES    
Accounts payable 25,388,282 18,332,502
Accrued expenses 20,433,673 17,356,081
Income tax payable 2,326,194 1,153,194
Advances from customers 174,042 369,992
Notes payable 134,775
Short-term bank loans 30,504,058 33,506,838
TOTAL CURRENT LIABILITIES 78,961,024 70,718,607
NON-CURRENT LIABILITIES    
Obligations under capital leases 15,056,590 16,720,307
TOTAL NON-CURRENT LIABILITIES 15,056,590 16,720,307
TOTAL LIABILITIES 94,017,614 87,443,786
SkyPeople Fruit Juice, Inc, Stockholders' equity    
Series B Preferred stock, $0.001 par value; 10,000,000 shares authorized; None issued and outstanding as of September30, 2016 and December 31, 2015, respectively
Common stock, $0.001 par value; 8,333,333 shares authorized; 4,061,090 and 27,161,499* shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively 4,061 27,161
Additional paid-in capital 108,732,960 59,189,860
Retained earnings 104,680,603 105,782,482
Accumulated other comprehensive (loss) income (21,478,862) 13,069,031
Total SkyPeople Fruit Juice, Inc. stockholders' equity 191,938,762 178,068,534
Non-controlling interests (8,356,617) 4,895,622
TOTAL EQUITY 183,582,145 182,964,156
TOTAL LIABILITIES AND EQUITY $ 277,599,759 $ 270,403,070
v3.6.0.2
Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Statement of Comprehensive Income [Abstract]        
Revenue $ 10,590,973 $ 10,548,336 $ 26,256,579 $ 39,284,644
Cost of goods sold 7,525,561 6,643,381 19,937,371 23,109,598
Gross profit 3,065,412 3,904,955 6,319,208 16,175,046
Operating Expenses        
General and administrative expenses 1,009,520 1,462,677 2,696,577 4,720,805
Selling expenses 1,107,677 984,512 2,719,507 3,308,393
Total operating expenses 2,117,197 2,447,189 5,416,084 8,029,198
Income from operations 948,215 1,457,766 903,124 8,145,848
Other income (expense)        
Interest income 13,747 47,377 160,370 311,403
Subsidy income (8,916) 541,230 238,187
Interest expenses (688,904) (1,714,906) (1,688,263) (3,412,066)
Consulting fee related to capital lease (69,557) (339) (6,780) (339)
Total other expenses (753,630) (1,667,868) (993,443) (2,862,815)
Income (loss) before income tax 194,585 (210,102) (90,319) 5,283,033
Income tax provision 250,453 159,661 884,282 1,792,401
Net income (loss) (55,868) (369,763) (974,601) 3,490,632
Less: Net loss attributable to non-controlling interests (364,742) (55,955) (127,278) (327,492)
NET INCOME (LOSS) ATTRIBUTABLE TO SKYPEOPLE FRUIT JUICE, INC. (420,610) (425,718) (1,101,879) 3,163,140
Other comprehensive income (loss)        
Foreign currency translation adjustment 228,830 (8,172,082) 1,215,660 (7,596,432)
Comprehensive income (loss) 172,962 (8,541,845) 241,059 (4,105,800)
Comprehensive income (loss) attributable to non-controlling interests (24,844) 128,475 8,613,955 (147,809)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO SKYPEOPLE FRUIT JUICE, INC. $ 148,119 $ (8,413,370) $ 8,855,016 $ (4,253,609)
Earnings (loss) per share:        
Basic and diluted net income(loss) per share $ (0.1) $ (0.02) $ (0.28) $ 0.12
Weighted average number of shares outstanding        
Basic and diluted 3,887,435 26,661,499 [1] 3,887,435 26,661,499 [1]
[1] The amount of shares is given prior to the Company's 1-for-8 reverse stock split on March 10, 2016.
v3.6.0.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (974,601) $ 3,490,632
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 3,739,607 4,701,533
Deferred income tax assets (412,728)
Provisions provided for bad debt expenses (804,524)
Changes in operating assets and liabilities    
Accounts receivable 42,466,850 48,865,852
Notes receivable (986,502)
Other receivable (2,643,904) 293,422
Advances to suppliers and other current assets (15,639,125) (7,220,094)
Inventories (1,398,802) (511,685)
Accounts payable 10,522,211 (7,876,850)
Accrued expenses 347,377 (951,496)
Income tax payable (1,134,706) (1,413,939)
Advances from customers (187,952) 49,956
Net cash provided by operating activities 34,110,453 38,210,079
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment (28,386) (4,622,320)
Proceeds from disposal of plant, property and equipment 334,236
Prepayment for other assets (91,914,922)
Purchase of intangible assets (1,321,964)
Prepayments for deposit on equipment (142,774)
Net cash used in investing activities (92,931,036) (4,765,094)
CASH FLOWS FROM FINANCING ACTIVITIES    
Issue of common stock 16,377,868
Decrease in restricted cash 3,030,579 3,239,496
Proceeds (repayment) from short-term notes 136,376 (8,098,740)
Proceeds from short-term bank loans 23,831,727
Repayment of short-term bank loans (2,103,222) (15,028,524)
Repayment of long term debt (1,216,791)
(Repayment) proceeds from related party loan (239,928) (374,913)
Payment for capital lease 7,982,400 (344)
Net cash provided by financing activities 23,967,282 3,568,702
Effect of change in exchange rate (12,621,060) (2,061,336)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (47,474,361) 34,952,351
Cash and cash equivalents, beginning of period 50,006,914 25,130,302
Cash and cash equivalents, end of period 2,532,553 60,082,653
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest 1,176,401 3,412,066
Cash paid for income taxes 884,282 1,636,409
SUPPLEMENTARY DISCLOSURE OF SIGNIFICANT NON-CASH TRANSACTION    
Transferred from other assets to property, plant and equipment and construction in process 91,914,922 6,878,117
Equipment acquired by capital lease

 

 

 

 

 

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