Asia Leechdom Holding Corp

CIK:0001510489|SEC Filings

EARNINGS PER SHARE

3 Months Ended

Sep. 30, 2011

Note 16 - EARNINGS PER SHARE

Earnings per share is determined by dividing net income for the periods by the weighted average number of both basic and diluted shares of common stock and common stock equivalents outstanding pursuant to ASC 260, “Earnings Per Share.”

The following demonstrates the calculation for earnings per share for the three months ended September 30, 2011 (unaudited) and 2010 (unaudited):

		2011		2010
Basic and Diluted earnings per share
Net Income	$	8,439,402	$	6,837,251
Weighted average number of common
shares outstanding-Basic and Diluted		39,840,605		39,840,605
Earnings per share-Basic and Diluted	$	0.21	$	0.17

The calculation of weighted average common shares outstanding for the diluted earnings per share calculation excludes consideration of warrants for the three months ended September 30, 2011 and 2010, because the exercise of these warrants would not have been dilutive for those periods. As discussed in Note 17, the Company had 1,134,282 outstanding warrants as of September 30 and June 30, 2011.

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	$ 8,439,402	$ 6,837,251
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	401,460	200,430
Deferred taxes	38,982	12,308
(Increase) / decrease in current assets:
Accounts receivable	82,540	(3,550,602)
Other receivables	210,007	(265,698)
Advances to material suppliers	1,984,705	(123,768)
Due from related party	2,870,074	(1,907,649)
Inventory	380,382	1,314,847
Increase / (decrease) in current liabilities:
Accounts payable	(327,379)	275,674
Other payables	251,631	(1,123,548)
Due to related party	0	(100,578)
Taxes payable	(71,420)	638,048
Unearned revenue	33,929	934,072
Accrued expenses	(13,581)	(5,751)
Total Adjustments	5,841,330	(3,702,215)
Net cash provided by operating activities	14,280,732	3,135,036
CASH FLOWS FROM INVESTING ACTIVITIES
Loans receivable	(4,303,614)	0
Advances to equipment suppliers	(288,467)	0
Purchase of intangible assets	0	(20,227)
Purchase of property, plant & equipment	(81,297)	(5,138)
Investment in construction in progress	(50,419)	(1,565,533)
Deposit for asset acquisition	0	(4,342,140)
Net cash used in investing activities	(4,723,797)	(5,933,038)
CASH FLOWS FROM FINANCING ACTIVITIES
Borrowing short-term loans	3,180,392	1,535,995
Repayment of short-term loans	(3,180,392)	(190,000)
Collections on subscriptions receivable	0	3,007,224
Net cash provided by financing activities	0	4,353,219
NET INCREASE IN CASH AND EQUIVALENTS	9,556,935	1,555,217
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND EQUIVALENTS	231,952	304,767
CASH AND EQUIVALENTS, BEGINNING BALANCE	16,609,372	14,498,707
CASH AND EQUIVALENTS, ENDING BALANCE	26,398,259	16,358,691
Cash paid during the year for:
Interest	25,177	24,490
Income taxes	$ 2,774,788	$ 2,018,647

CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2011	Jun. 30, 2011
Current Assets:
Cash and equivalents	$ 26,398,259	$ 16,609,372
Accounts receivable, net	18,099,171	17,971,053
Other receivables	505,271	707,781
Loans receivable	4,320,263	0
Advances to material suppliers	135,385	2,103,079
Inventory	8,010,530	8,295,002
Due from related party	0	2,849,585
Total Current Assets	57,468,879	48,535,872
Property, Plant & Equipment, net	22,769,611	22,767,177
Advances to equipment suppliers	12,180,919	11,753,353
Construction in Progress	13,804,265	13,594,058
Intangible Assets, net	14,689,958	14,575,397
Total Assets	120,913,632	111,225,857
Current Liabilities:
Short-term loans	5,431,635	5,368,608
Accounts payable	3,297,208	3,583,781
Unearned revenue	786,334	743,545
Other payables	2,085,813	1,816,168
Taxes payable	5,437,453	5,445,225
Accrued expenses	18,128	31,394
Total Current Liabilities	17,056,571	16,988,721
Long Term Liability:
Deferred taxes	326,107	283,644
Total Liabilities	17,382,678	17,272,365
Stockholders' Equity:
Common stock, $0.001 par value, 200,000,000 shares authorized; 39,840,605 shares issued and outstanding	39,841	39,841
Additional paid-in-capital	9,926,805	9,926,805
Accumulated other comprehensive income	6,800,909	5,662,849
Statutory reserve	3,651,003	3,166,215
Retained earnings	83,112,396	75,157,782
Total Stockholders' Equity	103,530,954	93,953,492
Total Liabilities and Stockholders' Equity	$ 120,913,632	$ 111,225,857