Anpulo Food, Inc.

CIK:0001500366|SEC Filings

Consolidated Statements of Operations and Comprehensive Income - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement [Abstract]
Sales	$ 26,369,680	$ 17,530,874	$ 20,206,497
Cost of goods sold	22,508,894	14,485,524	16,479,281
Gross profit	3,860,786	3,045,350	3,727,216
Operating expenses:
General and administrative expenses	1,809,322	1,400,687	1,678,087
Selling expenses	2,672,833	2,468,163	2,270,488
Total operating expenses	4,482,155	3,868,850	3,948,575
Loss from operations	(621,369)	(823,500)	(221,359)
Other income (expense):
Interest expense	(685,817)	$ (1,026,734)	$ (875,250)
Interest income - related party	52,561
Subsidy income - Interest expense	168,842	$ 638,875	$ 58,154
Subsidy income	904,046	$ 110,626	$ 118,440
Gain from loan restructuring	293,452
Other income (expense)	(430)	$ (28,663)	$ 45,184
Total other income (expense)	732,654	(305,896)	(653,472)
Income (loss) before income taxes	$ 111,285	$ (1,129,396)	$ (874,831)
Income taxes
Net income (loss)	$ 111,285	$ (1,129,396)	$ (874,831)
Other comprehensive income:
Unrealized foreign currency translation adjustment	(204,546)	(21,293)	150,431
Comprehensive loss	$ (93,261)	$ (1,150,689)	$ (724,400)
Loss per share - basic and diluted:
Weighted-average shares outstanding, basic and diluted	152,475,667	123,000,000	122,916,667
Income (loss) per share - Basic & diluted	$ 0.00	$ (0.01)	$ (0.01)

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 111,285	$ (1,129,396)	$ (874,831)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	809,490	839,583	$ 804,731
Amortization of prepaid expenses	138,848	$ 152,863
Amortization of discount of long-term loans	44,247
Bad debt expense, net	206,931	$ (150,879)	$ 227,427
Interest income from related party loans	(52,561)
Gain from loan restructuring	$ (293,452)
Loss from held for trading investment		$ 10,001
Loss from disposal of plant and equipment		3,345
Changes in operating assets and liabilities:
Accounts receivable	$ (1,636,110)	274,397	$ (1,203,087)
Inventories	(618,034)	(39,982)	(133,831)
Advances to suppliers	185,933	(23,531)	(216,274)
Other receivables	49,216	568,076	(612,881)
Other current assets	(31,330)	(304,416)	(500,639)
Prepaid expenses	(73,166)	(159,184)	(46,738)
Restricted assets	$ 446,355	$ (1,237,140)	(129,230)
Long-term prepaid expenses			(374,620)
Accounts payable and accrued payables	$ 287,416	$ 319,744	(95,375)
Advances from customers	14,480	(22,534)	(16,833)
Other payables	(575,576)	759,405	(21,068)
Total adjustments	(1,097,313)	989,748	(2,318,418)
Net cash used in operating activities	$ (986,028)	$ (139,648)	(3,193,249)
CASH FLOWS FROM INVESTING ACTIVITIES
Increase in held for sale investment			$ (32,488)
Prepayment for real estate purchase		$ (81,391)
Increase in construction in progress		(89,169)	$ (1,455,217)
Proceeds from disposal of construction in progress		1,953,379
Proceeds from disposal of plant and equipment		586
Purchase of plant and equipment	$ (102,182)	(97,674)	$ (873,035)
Net cash provided by (used in) investing activities	(102,182)	1,685,731	(2,360,740)
CASH FLOWS FROM FINANCING ACTIVITIES
Due from related party	555,338	(788,684)	$ 3,697,656
Due to related party	(603,491)	$ 741,831
Capital contribution	$ 1,540,429
Repayment of long-term loans			$ (6,946,127)
Repayment of short-term loans	$ (12,394,041)	$ (18,068,759)	(6,364,591)
Proceeds from short-term loans	11,612,189	16,636,281	15,410,710
Net cash provided by (used in) financing activities	710,424	(1,479,331)	5,797,648
EFFECT OF EXCHANGE RATE CHANGES ON CASH	318,131	6,756	16,042
NET INCREASE (DECREASE) IN CASH	(59,655)	73,508	259,701
CASH, BEGINNING OF YEAR	740,532	667,024	407,323
CASH, END OF YEAR	680,877	740,532	667,024
Cash paid during the period for:
Interest paid	$ 708,586	$ 1,043,053	$ 858,799
Income tax paid
NON-CASH TRANSACTIONS OF INVESTING AND FINANCING ACTIVITIES:
Issuance of common stock	$ 6,723,878
Buy-back of preferred stock	$ 6,723,878

Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 680,877	$ 740,532
Investment - held for trading	21,517	22,755
Accounts receivable, net	3,994,461	2,564,119
Inventories	1,784,995	1,260,575
Advances to suppliers	$ 76,472	278,257
Advance for real estate purchase		81,453
Prepaid expenses	$ 15,404	64,049
Due from related party	341,316	1,090,660
Other receivables, net	35,264	153,704
Restricted assets	865,681	1,368,412
Other current assets	1,004,650	1,030,666
Total Current Assets	8,820,637	8,655,182
Long-term prepaid expenses, net	320,027	357,330
Plant and equipment, net of accumulated depreciation	$ 6,173,846	7,165,339
Construction in progress		53,955
Intangible assets, net	$ 3,170,716	3,434,607
Total Assets	18,485,226	19,666,413
Current Liabilities:
Short-term loans	11,234,345	13,912,194
Accounts payable and accrued payables	991,304	733,744
Advances from customers	48,842	36,959
Due to related party	23,978	742,399
Other payables	356,391	960,940
Total Current Liabilities	12,654,860	$ 16,386,236
Long-term loans	1,103,021
Total Liabilities	13,757,881	$ 16,386,236
Stockholders' Equity:
Preferred stock ($0.001 par value, 500,000,000 shares authorized, 11,630,000 shares and 90,000,000 shares issued and outstanding as of December 31, 2015 and 2014, respectively)	11,630	90,000
Common stock ($0.001 par value, 1,000,000,000 shares authorized, 184,126,166 shares and 123,000,000 shares issued and outstanding as of December 31, 2015 and 2014, respectively)	184,126	123,000
Additional paid in capital	6,970,845	5,413,172
Accumulated deficit	(3,085,757)	(3,197,042)
Accumulated other comprehensive income	646,501	851,047
Total Stockholders' Equity	4,727,345	3,280,177
Total Liabilities and Stockholders' Equity	$ 18,485,226	$ 19,666,413