CHINA ALUMINUM FOIL, INC.

CIK:0001483058|SEC Filings

Earnings Per Share	3 Months Ended
Earnings Per Share	Sep. 30, 2011
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	NOTE 8 – EARNINGS PER SHARE Basic net income per share is computed by dividing net income by the weighted-average number of shares outstanding during the period. Diluted net income per share is computed by using the weighted-average number of ordinary shares outstanding and, when dilutive, potential shares from warrants to purchase ordinary shares, using the treasury stock method. For the three months ended September 30, 2011 and 2010, the Company had no common stock equivalents that could potentially dilute future earnings per share.

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
Consolidated Statements of Cash Flows (USD $)	Sep. 30, 2011	Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 1,261,397	$ 416,104
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expenses	147,900	61,551
Changes in operating assets and liabilities:
Accounts receivable	(694,184)	3,161,919
Advances to suppliers	(437,360)	664,216
Other receivables	(410,267)	155,744
Inventories	(2,999,500)	613,381
Deferred tax assets	4,087	(104,989)
Prepaid expenses	24,022	0
Accounts payable	342,572	3,799
Customer deposits	109,425	151,873
Other payables	(75,414)	(87,306)
Taxes payable	(146,003)	(48,759)
Due to/from related party	2,373,562	(4,541,580)
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	(499,763)	445,953
CASH FLOWS FROM INVESTING ACTIVITIES
Cash received from short term investment matured	786,794	0
Purchase of property, plant and equipment	(73,991)	(9,707)
Notes receivable	111,725	171,355
CASH PROVIDED BY INVESTING ACTIVITIES	824,528	161,648
Effect of exchange rate changes on cash and cash equivalents	100,306	49,311
NET INCREASE IN CASH	425,071	656,912
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	1,597,711	136,742
CASH AND CASH EQUIVALENTS AT END OF YEAR	2,022,782	793,654
Supplementary Disclosures for Cash Flow Information:
Income taxes paid	604,735	138,798
NON-CASH INVESTING AND FINANCING ACTIVITIES
Imputed interest to the related party	$ 66,836	$ 59,478

Consolidated Balance Sheets (USD $)	Sep. 30, 2011	Jun. 30, 2011
Current assets
Cash and cash equivalents	$ 2,022,782	$ 1,597,711
Short term investment	0	772,606
Accounts receivable	2,199,781	1,478,447
Advances to suppliers	1,248,161	796,180
Other receivables	464,217	52,977
Inventories	8,400,859	5,303,958
Notes receivable	420,148	522,282
Total Current Assets	14,755,948	10,524,161
Property, plant and equipment, net	5,845,218	5,805,640
Deferred tax assets - long term	234,670	234,452
Other Assets	139,243	160,321
TOTAL ASSETS	20,975,079	16,724,574
Current Liabilities
Accounts payable	994,899	640,564
Customer deposits	315,425	202,285
Accrued expenses and other liabilities	0	74,054
Taxes payable	93,729	235,409
Due to related parties	6,356,240	3,910,859
Total Current Liabilities	7,760,293	5,063,171
TOTAL LIABILITIES	7,760,293	5,063,171
SHAREHOLDERS’ EQUITY
Preferred stock: $0.001 par value; 10,000,000 shares authorized; no shares issued or outstanding	0	0
Common stock: $0.001 par value; 100,000,000 shares authorized;10,201,011 shares issued and outstanding as of September 30, 2011 and June 30, 2011, respectively	10,201	10,201
Additional paid in capital	8,198,261	8,131,425
Statutory reserve	292,456	292,456
Retained earnings	3,538,032	2,276,635
Accumulated other comprehensive income	1,175,836	950,686
TOTAL SHAREHOLDERS’ EQUITY	13,214,786	11,661,403
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 20,975,079	$ 16,724,574