Computer Graphics International Inc.

CIK:0001242513|SEC Filings

OTHER COMPREHENSIVE INCOME

3 Months Ended

Dec. 31, 2013

Stockholders' Equity Note [Abstract]

Comprehensive Income (Loss) Note [Text Block]

Note 10 - OTHER COMPREHENSIVE INCOME

Balance of after-tax components comprising accumulated other comprehensive income, included in stockholders’ equity, at December 31, 2013 and September 30, 2013, are as follows:

	Foreign		Accumulated
	Currency		Other
	Translation		Comprehensive
	Adjustment		Income

Balance at September 30, 2012	$	247,866	$	247,866
Change for 2013		56,222		56,222

Balance at September 30, 2013	$	304,088	$	304,088
Change for three months period ended December 31, 2013		(4,724)		(4,724)

Balance at December 31, 2013	$	299,364	$	299,364

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	Dec. 31, 2013	Dec. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (99,987)	$ (636,680)
Adjustments to reconcile net loss to net cash provided by / (used in) operating activities:
Amortization of prepaid post combination employee benefit	16,316	51,686
Depreciation	52,707	102,151
Allowance for doubtful accounts	38,924
Share-based payment expense	0	90,262
Changes in operating assets and liabilities:
Accounts receivable	83,586	91,644
Value-added tax recoverable/payable	0	(19,334)
Other receivables, net	(56,826)	58,251
Rent deposits	1,110	0
Accounts payable	(27,084)	142,494
Accrued expense and other payable	61,221	(101,768)
Deferred revenue	(4,838)	0
Net cash provided by / (used in) operating activities	65,129	(221,294)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of property and equipment	0	(1,546)
Disposal of property and equipment	560	40,291
Net cash provided by investing activities	560	38,745
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of short-term loan	(48,948)	0
Proceeds from a stockholder	0	252,014
Proceeds to a stockholder	(114,863)	0
Net cash (used in) provided by financing activities	(163,811)	252,014
Effect of exchange rate changes on cash and cash equivalents	(6,522)	693
Net (decrease) increase in cash and cash equivalents	(104,644)	70,158
Cash and cash equivalents, beginning balance	290,038	263,228
Cash and cash equivalents, ending balance	185,394	333,386
Cash paid during the period for:
Income tax	0	0
Interest paid	$ 9,700