China Digital Animation Development, Inc.

CIK:0000928835|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (USD $)	3 Months Ended		9 Months Ended
	Mar. 31, 2012	Mar. 31, 2011	Mar. 31, 2012	Mar. 31, 2011
REVENUE	$ 555,149	$ 2,169,443	$ 1,326,502	$ 5,989,431
COST OF REVENUE	156,701	2,534,916	812,175	6,749,326
GROSS PROFIT (LOSS)	398,448	(365,473)	514,327	(759,895)
OPERATING EXPENSES:
Selling, general and administrative	98,364	17,800	525,276	712,254
Total Operating Expenses	7,337,307	17,800	7,764,219	712,254
LOSS FROM OPERATIONS	(6,938,859)	(383,273)	(7,249,892)	(1,472,149)
OTHER INCOME:
Interest income	84	8,784	587	17,920
Other income	1,898	1,587	6,837	1,587
Total Other Income	1,982	10,371	7,424	19,507
LOSS FROM OPERATIONS BEFORE PROVISION FOR INCOME TAXES	(6,936,877)	(372,902)	(7,242,468)	(1,452,642)
PROVISION FOR INCOME TAXES	93,099	362,667	98,289	978,454
Net loss	(7,029,976)	(735,569)	(7,340,757)	(2,431,096)
OTHER COMPREHENSIVE INCOME:
Unrealized foreign currency translation gain	10,467	39,649	202,680	445,967
COMPREHENSIVE LOSS	$ (7,019,509)	$ (695,920)	$ (7,138,077)	$ (1,985,129)
NET LOSS PER COMMON SHARE:
Basic and diluted	$ (0.35)	$ (0.04)	$ (0.36)	$ (0.12)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic and diluted	20,290,000	20,270,000	20,288,255	20,137,701

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	Mar. 31, 2012	Mar. 31, 2011
Net loss	$ (7,340,757)	$ (2,431,096)
Depreciation	114,393	465,337
Amortization	215,011	235,272
Stock-based compensation	58,400
Impairment on deferred production cost and short term investments	7,238,943
Foreign currency exchange gain		(1,343)
Change in accounts receivable	48,722	276,663
Change in other receivables		(7,978)
Change in prepaid expenses	52,585	382,321
Change in deferred production costs	(272,059)
Change in accounts payable and other payables	66,507	4,814,338
Change in taxes receivable and payable	98,289	(28,008)
NET CASH PROVIDED BY OPERATING ACTIVITIES	280,034	3,705,506
Proceeds from borrowing	138,500	49,975
Proceeds from sale of stock		500,000
NET CASH PROVIDED BY FINANCING ACTIVITIES	138,500	549,975
EFFECT OF EXCHANGE RATE ON CASH	(3,807)	271,763
NET INCREASE IN CASH AND CASH EQUIVALENTS	414,727	4,527,244
CASH AND CASH EQUIVALENTS - beginning of period	17,903	6,219,438
CASH AND CASH EQUIVALENTS - end of period	432,630	10,746,682
Cash paid for income taxes		$ 1,033,306

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2012	Jun. 30, 2011
Cash and cash equivalents	$ 432,630	$ 17,903
Accounts receivable	395,664	434,749
Other receivables	2,619	4,108
Advance to suppliers		25,992
Short term investments		6,188,598
Deferred production costs		669,529
Tax refund receivable	242,098	333,421
Prepaid expenses	20,000	43,900
Total Current Assets	1,093,011	7,718,200
Property, plant and equipment, net	1,188,585	1,274,527
Intangible assets, net	2,169,327	2,332,316
Total Assets	4,450,923	11,325,043
Accounts payable	119,128
Loans payable to related parties	484,475	345,975
Accrued expenses and other payables	39,266	91,337
Total Current Liabilities	642,869	437,312
Total Liabilities	642,869	437,312
Preferred stock ($0.001 par value; 5,000,000 shares authorized; none issued and outstanding)
Common stock ($0.001 par value; 100,000,000 shares authorized; 20,290,000 and 20,270,000 shares issued and outstanding at March 31, 2012 and June 30, 2011, respectively)	20,290	20,270
Additional paid-in capital	6,781,827	6,723,447
Accumulated other comprehensive income	2,704,024	2,501,344
Statutory reserve	1,156,476	1,156,476
Retained earnings (deficit)	(6,854,563)	486,194
Total Stockholders' Equity	3,808,054	10,887,731
Total Liabilities and Stockholders' Equity	$ 4,450,923	$ 11,325,043