10-K Filing

GREEN DRAGON WOOD PRODUCTS, INC. CIK: 1417172 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001013762-12-002284`
Period End Date	20120331
Filing Date	20121213
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	gdwp-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 36 Cash Flow Statement 54 Stockholders Equity 16

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$100.51K	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$60.30K	USD	Point-in-time
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$289.08K	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$650.10K	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$652.09K	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$336.43K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$323.38K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	450.00M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$6.24M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$5.75M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	450.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	200,000.00	shares	Point-in-time
Inventories	`InventoryNet`	$122.42K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	200,000.00	shares	Point-in-time
Inventories	`InventoryNet`	$72.17K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	200,000.00	shares	Point-in-time
Income tax recoverable	`IncomeTaxRecoverable`	$13.08K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	200,000.00	shares	Point-in-time
Prepayments, deposits and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$848.93K	USD	Point-in-time
Prepayments, deposits and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$626.54K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$8.20M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$7.79M	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$6.27K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$14.18K	USD	Point-in-time
Cash surrender value of life insurance, net	`CashSurrenderValueOfLifeInsurance`	$124.90K	USD	Point-in-time
Non-current portion of prepaid life insurance	`PrepaidExpenseOtherNoncurrent`	$114.90K	USD	Point-in-time
TOTAL NON-CURRENT ASSETS	`AssetsNoncurrent`	$14.18K	USD	Point-in-time
TOTAL NON-CURRENT ASSETS	`AssetsNoncurrent`	$246.06K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$8.21M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$8.03M	USD	Point-in-time
Revolving lines of credit	`LinesOfCreditCurrent`	$3.38M	USD	Point-in-time
Revolving lines of credit	`LinesOfCreditCurrent`	$3.80M	USD	Point-in-time
Current portion of long-term bank loan	`LongTermDebtCurrent`	$154.52K	USD	Point-in-time
Current portion of long-term bank loan	`LongTermDebtCurrent`	$154.07K	USD	Point-in-time
Short-term bank loan	`ShortTermBorrowings`	$98.86K	USD	Point-in-time
Accounts payable, trade	`AccountsPayableCurrent`	$1.05M	USD	Point-in-time
Accounts payable, trade	`AccountsPayableCurrent`	$513.48K	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$294.99K	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$823.88K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$63.32K	USD	Point-in-time
Amount due to a director	`DueToOfficersOrStockholdersCurrent`	$150.21K	USD	Point-in-time
Amount due to a director	`DueToOfficersOrStockholdersCurrent`	$382.44K	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$5.35M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$5.51M	USD	Point-in-time
Long-term bank loan	`LongTermLoansFromBank`	$462.21K	USD	Point-in-time
Long-term bank loan	`LongTermLoansFromBank`	$309.05K	USD	Point-in-time
TOTAL NON-CURRENT LIABILITIES	`LiabilitiesNoncurrent`	$462.21K	USD	Point-in-time
TOTAL NON-CURRENT LIABILITIES	`LiabilitiesNoncurrent`	$309.05K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.66M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.97M	USD	Point-in-time
Preferred stock, $0.001 par value; 50,000,000 preferred shares authorized; no shares issued and outstanding	`PreferredStockValueOutstanding`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 50,000,000 preferred shares authorized; no shares issued and outstanding	`PreferredStockValueOutstanding`	-	USD	Point-in-time
Common stock, $0.001 par value; 450,000,000 shares authorized; 200,000 shares issued and outstanding, respectively	`CommonStockValueOutstanding`	$200.00	USD	Point-in-time
Common stock, $0.001 par value; 450,000,000 shares authorized; 200,000 shares issued and outstanding, respectively	`CommonStockValueOutstanding`	$200.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$644.30K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$644.30K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.62M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.74M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-9.88K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-28.71K	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$2.24M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$1.91M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$2.37M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$8.21M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$8.03M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenues, net	`SalesRevenueNet`	$20.29M	USD	Annual
Revenues, net	`SalesRevenueNet`	$16.72M	USD	Annual
Cost of revenue	`CostOfGoodsAndServicesSold`	$18.68M	USD	Annual
Cost of revenue	`CostOfGoodsAndServicesSold`	$15.16M	USD	Annual
Gross profit	`GrossProfit`	$1.61M	USD	Annual
Gross profit	`GrossProfit`	$1.56M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.04M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.17M	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.04M	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.17M	USD	Annual
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$440.08K	USD	Annual
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$524.94K	USD	Annual
Foreign exchange loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-12.95K	USD	Annual
Foreign exchange loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-194.94K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$426.00	USD	Annual
Interest income	`InvestmentIncomeInterest`	$515.00	USD	Annual
Interest expense	`InterestExpense`	$180.11K	USD	Annual
Interest expense	`InterestExpense`	$131.75K	USD	Annual
Other income	`OtherNonoperatingIncome`	$36.00	USD	Annual
Other income	`OtherNonoperatingIncome`	$104.40K	USD	Annual
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$400.29K	USD	Annual
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$150.35K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$38.33K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$68.21K	USD	Annual
NET INCOME	`NetIncomeLoss`	$332.08K	USD	Annual
NET INCOME	`NetIncomeLoss`	$112.02K	USD	Annual
-Unrealized holding gain on available-for-sales securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$1.34K	USD	Annual
-Unrealized holding gain on available-for-sales securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$12.09K	USD	Annual
-Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$6.74K	USD	Annual
-Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-6.46K	USD	Annual
COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$130.84K	USD	Annual
COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$326.97K	USD	Annual
Net income per share - Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.56	USD	Annual
Net income per share - Basic and diluted	`EarningsPerShareBasicAndDiluted`	$1.66	USD	Annual
Weighted average common shares outstanding during the year - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	200,000.00	shares	Annual
Weighted average common shares outstanding during the year - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	200,000.00	shares	Annual

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$332.08K	USD	Annual
Net income	`NetIncomeLoss`	$112.02K	USD	Annual
Depreciation	`Depreciation`	$8.69K	USD	Annual
Depreciation	`Depreciation`	$7.95K	USD	Annual
Net loss arising on changes in fair value of life insurance	`NetLossArisingOnChangesInFairValueOfLifeInsurance`	$19.86K	USD	Annual
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$13.73K	USD	Annual
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$3.61K	USD	Annual
Write-off of uncollectible accounts receivable	`WriteOffOfUncollectibleAccountsReceivable`	$29.71K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$943.12K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-478.47K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-140.53K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$50.24K	USD	Annual
Prepayments, deposits and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$207.64K	USD	Annual
Prepayments, deposits and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-34.72K	USD	Annual
Income tax recoverable	`IncreaseDecreaseInIncomeTaxesReceivable`	$13.08K	USD	Annual
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$125.09K	USD	Annual
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$-533.50K	USD	Annual
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$528.90K	USD	Annual
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$78.58K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-63.32K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-754.52K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-934.49K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$283.02K	USD	Annual
Purchase of life insurance	`PaymentsToAcquireLifeInsurancePolicies`	$769.56K	USD	Annual
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$322.58K	USD	Annual
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.43K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-769.56K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-327.01K	USD	Annual
(Repayment of) proceeds from revolving lines of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-419.52K	USD	Annual
(Repayment of) proceeds from revolving lines of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.68M	USD	Annual
Change in restricted cash	`ProceedsFromRepaymentsOfRestrictedCashFinancingActivities`	$-1.98K	USD	Annual
Change in restricted cash	`ProceedsFromRepaymentsOfRestrictedCashFinancingActivities`	$-46.35K	USD	Annual
Draw down from long-term insurance policy loan	`DrawDownFromLongTermInsurancePolicyLoan`	$495.15K	USD	Annual
(Repayment of) proceeds from short-term bank loan	`ProceedsFromRepaymentsOfShortTermDebt`	$98.86K	USD	Annual
(Repayment of) proceeds from long-term bank loans	`ProceedsFromRepaymentsOfLongTermBankLoans`	$-154.33K	USD	Annual
(Repayment of) proceeds from long-term bank loans	`ProceedsFromRepaymentsOfLongTermBankLoans`	$-152.71K	USD	Annual
(Repayment to) advances from a director	`ProceedsFromRepaymentsToAdvancesFromDirector`	$-32.37K	USD	Annual
(Repayment to) advances from a director	`ProceedsFromRepaymentsToAdvancesFromDirector`	$232.22K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.45M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$252.03K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$5.74K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-632.00	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$188.56K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-228.77K	USD	Annual
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$100.51K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$60.30K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$289.08K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$100.51K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$60.30K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$289.08K	USD	Point-in-time
Interest paid	`InterestPaid`	$2.49K	USD	Annual
Interest paid	`InterestPaid`	$180.11K	USD	Annual
Income tax paid	`IncomeTaxesPaid`	$131.75K	USD	Annual
Income tax paid	`IncomeTaxesPaid`	$114.85K	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$2.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.37M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	200,000.00	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	200,000.00	shares	Point-in-time
Net income for the year	`NetIncomeLoss`	$332.08K	USD	Annual
Net income for the year	`NetIncomeLoss`	$112.02K	USD	Annual
Unrealized gain on available-for-sales securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$1.34K	USD	Annual
Unrealized gain on available-for-sales securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$12.09K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$6.74K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-6.46K	USD	Annual
Balance	`StockholdersEquity`	$2.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.37M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	200,000.00	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	200,000.00	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.