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Financials

 
v3.7.0.1
Condensed Consolidated Balance Sheets (Unaudited ) - USD ($)
Mar. 31, 2017
Dec. 31, 2016
CURRENT ASSETS    
Cash and cash equivalents $ 2,459,424 $ 1,143,585
Accounts receivable, net of allowance of $4,843,809 as of March 31, 2017 and December 31, 2016, respectively 5,863,873 7,325,773
Other receivables 29,830,980 28,417,194
Inventories 2,818,225 3,041,300
Deferred tax assets 3,566,442 3,566,442
Advances to suppliers and other current assets 57,167,955 58,132,189
TOTAL CURRENT ASSETS 101,706,899 101,626,483
PROPERTY, PLANT AND EQUIPMENT, NET 82,298,162 81,523,569
LAND USE RIGHT, NET 31,888,862 31,854,360
LONG TERM ASSETS 2,804,632 2,789,390
DEPOSITS 44,213,325 43,867,228
TOTAL ASSETS 262,911,880 261,661,030
CURRENT LIABILITIES    
Accounts payable 17,391,177 16,569,988
Accrued expenses 27,443,847 27,449,664
Income tax payable 3,623,076 3,590,084
Advances from customers 4,149 696
Short-term bank loans 29,524,734 29,364,279
TOTAL CURRENT LIABILITIES 77,986,983 76,974,711
NON-CURRENT LIABILITIES    
Obligations under capital leases 16,585,674 14,494,003
TOTAL NON-CURRENT LIABILITIES 16,585,674 14,494,003
TOTAL LIABILITIES 94,572,657 91,468,714
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 March 31, 2017 and December 31, 2016, respectively
Common stock, $0.001 par value; 8,333,333 shares authorized; 4,311,090 and 4,061,090 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively 4,311 4,061
Additional paid-in capital 108,732,710 105,366,887
Retained earnings 97,587,103 100,237,011
Accumulated other comprehensive loss (73,341,154) (70,579,747)
Total SkyPeople Fruit Juice, Inc. stockholders' equity 132,982,970 135,028,212
Non-controlling interests 35,356,253 35,164,104
TOTAL EQUITY 168,339,223 170,192,316
TOTAL LIABILITIES AND EQUITY $ 262,911,880 $ 261,661,030
v3.7.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Statement of Comprehensive Income [Abstract]    
Revenue $ 2,958,834 $ 5,436,308
Cost of goods sold 2,424,220 5,393,484
Gross profit 534,614 42,824
Operating Expenses    
General and administrative expenses 2,855,329 679,944
Selling expenses 194,879 861,140
Total operating expenses 3,050,208 1,541,084
Loss from operations (2,515,594) (1,498,260)
Other income (expenses)    
Interest income 1,040 131,024
Subsidy income 531,445
Interest expenses (30,796) (208,665)
Consulting fee related to capital lease 172,147 (9,159)
Total other income (expenses) 142,391 444,645
Loss from Continuing Operations before Income Tax (2,373,203) (1,053,615)
Income tax provision 61,422
Loss from Continuing Operations before Minority Interest (2,434,625) (1,053,615)
Less: Net income attributable to non-controlling interests (166,598) (12,465)
Loss from Continuing Operations (2,601,223) (1,066,080)
Discontinued Operations (Note 11)    
Loss from discontinued operations (48,685)
NET LOSS ATTRIBUTABLE TO SKYPEOPLE FRUIT JUICE, INC. STOCKHOLDERS (2,649,908) (1,066,080)
Other comprehensive income (loss)    
Foreign currency translation adjustment 626,056 20,698,646
Comprehensive income (1,857,254) 19,645,031
Comprehensive expense attributable to non-controlling interests (124,897) (4,997,409)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO SKYPEOPLE FRUIT JUICE, INC. STOCKHOLDERS $ (1,982,151) $ 14,647,622
Loss per share:    
Basic loss per share from continued operations $ (0.63) $ (0.30)
Basic loss per share from discontinued operations (0.01)
Basic loss per share from net income (0.64) (0.30)
Diluted Loss per share:    
Diluted loss per share from continued operations (0.62) (0.30)
Diluted loss per share from discontinued operations (0.01)
Diluted loss per share from net income $ (0.63) $ (0.30)
Weighted average number of shares outstanding    
Basic 4,147,201 3,548,183
Diluted 4,209,701 3,548,183
v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (2,649,908) $ (1,066,080)
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 798,511 2,745,539
Deferred income tax assets (11,666)
Provisions provided for bad debt expenses (4,503)
Changes in operating assets and liabilities    
Accounts receivable 1,509,312 (1,852,548)
Other receivable (1,437,626) (2,572,743)
Advances to suppliers and other current assets 624,779 3,135,265
Inventories 240,154 (836,764)
Accounts payable 313,214 4,200,224
Accrued expenses 695,701 (989,025)
Income tax payable (737,480) (3,473,175)
Advances from customers 3,455 1,116,238
Net cash (used in) provided by operating activities (644,391) 395,265
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment (2,527,423)
Prepayment for other assets (257,189)
Prepayments for deposit on equipment (106,597)
Net cash used in investing activities (106,597) (2,784,612)
CASH FLOWS FROM FINANCING ACTIVITIES    
Issue of common stock 16,641,394
Repayment from related party loan (31,565) (1,233,968)
Proceeds (repayments) long term debt 2,016,329
Payment for capital lease (11,391,267)
Net cash provided by financing activities 1,984,764 4,016,159
Effect of change in exchange rate 82,063 8,427,051
NET INCREASE IN CASH AND CASH EQUIVALENTS 1,315,839 10,053,863
Cash and cash equivalents, beginning of period 1,143,585 50,006,914
Cash and cash equivalents, end of period 2,459,424 60,060,777
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest 30,796 208,665
Cash paid for income taxes 61,422 1,259,559
SUPPLEMENTARY DISCLOSURE OF SIGNIFICANT NON-CASH TRANSACTION    
Transferred from other assets to property, plant and equipment and construction in process $ 106,597 $ 2,342,127

 

 

 

 

 

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