China Solar & Clean Energy Solutions, Inc.
CIK:0000717588|SEC Filings
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2011 | Sep. 30, 2010 | |
| Revenue | $ 6,191,294 | $ 7,623,544 | $ 16,520,138 | $ 22,225,885 |
| Cost of revenue | 4,774,871 | 5,706,376 | 12,982,244 | 16,154,947 |
| Gross profit | 1,416,423 | 1,917,168 | 3,537,894 | 6,070,938 |
| Operating expenses | ||||
| Depreciation and amortization | 129,021 | 116,714 | 376,935 | 343,538 |
| Selling and distribution | 844,651 | 762,704 | 2,273,651 | 2,119,033 |
| General and administrative | 496,466 | 464,267 | 1,332,075 | 1,759,693 |
| Total operating expenses | 1,470,138 | 1,343,685 | 3,982,661 | 4,222,264 |
| Income(loss) from operations | (53,715) | 573,483 | (444,767) | 1,848,674 |
| Other income (expenses): | ||||
| Interest expense, net of interest income | (114,736) | (101,844) | (326,857) | (261,417) |
| Equity in income (loss) of non-consolidated subsidiary | 170,150 | (36,000) | 134,870 | (108,000) |
| Total other income (expenses) | 55,414 | (137,844) | (191,987) | (369,417) |
| Income(loss) before income taxes | 1,699 | 435,639 | (636,754) | 1,479,257 |
| Income tax expense | 36,371 | 109,977 | 86,910 | 282,062 |
| Net income(loss) | (34,672) | 325,662 | (723,664) | 1,197,195 |
| Less: Net income(loss) attributable to non-controlling interests | 17,153 | 20,124 | (3,219) | 144,491 |
| Net income(loss) attributable to the Company | $ (51,825) | $ 305,538 | $ (720,445) | $ 1,052,704 |
| Earnings (loss) per common share - Basic and Diluted | $ 0 | $ 0.02 | $ (0.05) | $ 0.08 |
| Weighted average common shares outstanding - Basic and Diluted | 15,233,652 | 15,233,652 | 15,233,652 | 15,233,652 |
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | |
| Cash flows from operating activities: | ||
| Net cash used in operating activities | $ 466,419 | $ (2,832,013) |
| Net cash used in operating activities | 466,419 | (2,832,013) |
| Cash flows from investing activities: | ||
| Purchase of property, plant and equipment | (122,601) | (180,135) |
| Net cash used in by investing activities | (122,601) | (180,135) |
| Cash flows from financing activities: | ||
| Proceeds from bank loan | 768,439 | 735,882 |
| Net cash provided by financing activities | 768,439 | 735,882 |
| Effect of exchange rate on cash and cash equivalents | 289,668 | 208,182 |
| INCREASE(DECREASE) IN CASH AND CASH EQUIVALENTS | 1,401,925 | (2,068,084) |
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 5,048,133 | 4,980,717 |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | 6,450,058 | 2,912,633 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||
| Cash paid for income taxes | 583,305 | 239,246 |
| Cash paid for interest expenses | $ 205,108 | $ 171,147 |
Balance Sheet Components | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance Sheet Related Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Supplemental Balance Sheet Disclosures [Text Block] | NOTE 5 - BALANCE SHEET COMPONENTS
Accounts receivable, net
The majority of the Company’s sales are on open credit terms and in accordance with terms specified in the contracts governing the relevant transactions. The Company evaluates the need of an allowance for doubtful accounts based on the aging of accounts receivable that management believes to be reasonable.
Inventories:
Other receivables and prepayments:
Other payables and accrued liabilities:
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||