China Housing & Land Development, Inc.

CIK:0001303330|SEC Filings

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
REVENUES
Real estate sales	$ 14,396,324	$ 22,816,765	$ 67,116,774	$ 79,436,412
Other income	5,305,985	4,893,589	12,628,790	14,383,616
Total revenues	19,702,309	27,710,354	79,745,564	93,820,028
COST OF SALES
Cost of real estate sales	12,760,030	18,632,301	59,929,777	74,840,421
Cost of other revenue	2,975,985	3,290,397	7,303,851	8,692,392
Total cost of revenues	15,736,015	21,922,698	67,233,628	83,532,813
Gross margin	3,966,294	5,787,656	12,511,936	10,287,215
OPERATING EXPENSES
Selling, general, and administrative expenses	4,491,185	$ 3,936,507	11,351,887	11,802,817
Stock-based compensation	75,900		75,900	1,136,304
Other expenses	34,464	$ 6,460	47,966	20,480
Financing expense	1,242,294	1,342,370	3,249,179	3,676,752
Total operating expenses	$ 5,843,843	$ 5,285,337	14,724,932	$ 16,636,353
Write off of real estate held for development			7,345,105
Intangible asset impairment			$ 14,964,476
Loss from disposal of property and equipment				$ 563,710
Gain on extinguishment of loan		$ (2,071,672)		(2,071,672)
(Loss) Income before provision for income taxes	$ (1,877,549)	2,573,991	$ (24,522,577)	(4,841,176)
(Recovery of) Provision for income taxes	(467,509)	414,147	106,954	559,605
Recovery of deferred taxes	(11,020)	(11,270)	(3,774,476)	(33,802)
(Recovery of) Provision for income taxes	(478,529)	402,877	(3,667,522)	525,803
NET (LOSS) INCOME	$ (1,399,020)	$ 2,171,114	$ (20,855,055)	$ (5,366,979)
WEIGHTED AVERAGE SHARES OUTSTANDING
Basic	7,014,710	6,895,492	6,978,446	6,906,526
Diluted	7,014,710	6,895,492	6,978,446	6,906,526
NET (LOSS) EARNINGS PER SHARE
Basic	$ (0.20)	$ 0.31	$ (2.99)	$ (0.78)
Diluted	$ (0.20)	$ 0.31	$ (2.99)	$ (0.78)