10-K Filing

SUNWAY GLOBAL INC. CIK: 1096840 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001013762-13-000524`
Period End Date	20121231
Filing Date	20130415
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	suwg-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 36 Cash Flow Statement 72 Stockholders Equity 15

Balance Sheet 88 line items

Line Item	Tag	Value	Unit	Period
Series B convertible preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Series B convertible preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Series B convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	400,000.00	shares	Point-in-time
Series B convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	400,000.00	shares	Point-in-time
Series B convertible preferred stock, shares issued	`PreferredStockSharesIssued`	160,494.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$352.46K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.59M	USD	Point-in-time
Series B convertible preferred stock, shares issued	`PreferredStockSharesIssued`	160,494.00	shares	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$6.88M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$8.60M	USD	Point-in-time
Series B convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	160,494.00	shares	Point-in-time
Series B convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	160,494.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Notes receivables	`NotesAndLoansReceivableNetCurrent`	$283.36K	USD	Point-in-time
Inventories	`InventoryNet`	$2.76M	USD	Point-in-time
Inventories	`InventoryNet`	$3.34M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.50M	shares	Point-in-time
Advances to suppliers	`RetainageDeposit`	$837.17K	USD	Point-in-time
Advances to suppliers	`RetainageDeposit`	$1.50M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.50M	shares	Point-in-time
Prepayments	`PrepaidExpenseCurrent`	$435.17K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.50M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.50M	shares	Point-in-time
Prepayments	`PrepaidExpenseCurrent`	$852.02K	USD	Point-in-time
Tender deposits	`DepositsAssetsCurrent`	$176.86K	USD	Point-in-time
Tender deposits	`DepositsAssetsCurrent`	$460.47K	USD	Point-in-time
Travel advances to shareholders	`DueFromOfficersOrStockholdersCurrent`	$10.64K	USD	Point-in-time
Travel advances to shareholders	`DueFromOfficersOrStockholdersCurrent`	$41.84K	USD	Point-in-time
Travel advances to shareholders	`DueFromOfficersOrStockholdersCurrent`	$332.71K	USD	Point-in-time
Advances to employees	`DueFromEmployeesCurrent`	$455.67K	USD	Point-in-time
Advances to employees	`DueFromEmployeesCurrent`	$500.39K	USD	Point-in-time
Advances to employees	`DueFromEmployeesCurrent`	$269.30K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$600.84K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$1.35M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.42M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.56M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$1.09K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$1.09K	USD	Point-in-time
Amount due from a related company	`DueFromRelatedPartiesNoncurrent`	$127.79K	USD	Point-in-time
Amount due from a related company	`DueFromRelatedPartiesNoncurrent`	$126.77K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.28M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$6.86M	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$14.64M	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$12.76M	USD	Point-in-time
Deposit for technology-based designed	`DepositsAssetsNoncurrent`	$3.40M	USD	Point-in-time
Deposit for technology-based designed	`DepositsAssetsNoncurrent`	$3.43M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$38.16M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$39.45M	USD	Point-in-time
Short term bank loans	`ShortTermBankLoansAndNotesPayable`	-	USD	Point-in-time
Short term bank loans	`ShortTermBankLoansAndNotesPayable`	$698.29K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.21M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$622.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$4.31K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$8.13K	USD	Point-in-time
Turnover and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$77.51K	USD	Point-in-time
Turnover and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$143.70K	USD	Point-in-time
Expected warranty liabilities	`ProductWarrantyAccrualClassifiedCurrent`	$21.00K	USD	Point-in-time
Expected warranty liabilities	`ProductWarrantyAccrualClassifiedCurrent`	$21.72K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$2.56M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$1.75M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$627.21K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.06M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.71M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.10M	USD	Point-in-time
Warrants liabilities	`DerivativeLiabilitiesNoncurrent`	$1.17M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.27M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.71M	USD	Point-in-time
Series B Convertible Preferred Stock $0.0000001 par value; 400,000 shares authorized; 160,494 shares issued and outstanding at December 31,2012 and December 31, 2011	`PreferredStockValueOutstanding`	$1.00	USD	Point-in-time
Series B Convertible Preferred Stock $0.0000001 par value; 400,000 shares authorized; 160,494 shares issued and outstanding at December 31,2012 and December 31, 2011	`PreferredStockValueOutstanding`	$1.00	USD	Point-in-time
Common stock at $0.0000001 par value; 100,000,000 shares authorized; 18,499,736 shares issued and outstanding at December 31,2012 and December 31, 2011	`CommonStockValueOutstanding`	$2.00	USD	Point-in-time
Common stock at $0.0000001 par value; 100,000,000 shares authorized; 18,499,736 shares issued and outstanding at December 31,2012 and December 31, 2011	`CommonStockValueOutstanding`	$2.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$13.83M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$13.83M	USD	Point-in-time
Statutory reserves	`RetainedEarningsAppropriated`	$4.27M	USD	Point-in-time
Statutory reserves	`RetainedEarningsAppropriated`	$4.28M	USD	Point-in-time
Retained earnings	`RetainedEarningsUnappropriated`	$10.33M	USD	Point-in-time
Retained earnings	`RetainedEarningsUnappropriated`	$7.22M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$7.12M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$6.75M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$32.45M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$31.55M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$35.18M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$39.45M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$38.16M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$8.68M	USD	Annual
Net revenues	`SalesRevenueNet`	$9.75M	USD	Annual
Cost of net revenues	`CostOfGoodsAndServicesSold`	$5.36M	USD	Annual
Cost of net revenues	`CostOfGoodsAndServicesSold`	$4.70M	USD	Annual
Gross profit	`GrossProfit`	$4.40M	USD	Annual
Gross profit	`GrossProfit`	$3.98M	USD	Annual
Selling expenses	`SellingExpense`	$3.22M	USD	Annual
Selling expenses	`SellingExpense`	$1.76M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.23M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.15M	USD	Annual
(Loss) / Income from operations	`OperatingIncomeLoss`	$-4.01M	USD	Annual
(Loss) / Income from operations	`OperatingIncomeLoss`	$-4.97M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$32.09K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$3.01K	USD	Annual
Interest expenses	`InterestExpense`	$17.83K	USD	Annual
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	$16.35M	USD	Annual
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	$1.17M	USD	Annual
Impairment of fixed assets and intangible assets	`AssetImpairmentCharges`	$2.44M	USD	Annual
Loss on disposal of fixed assets and intangible assets	`LossOnDisposalOfFixedAssetsAndIntangibleAssets`	$2.32M	USD	Annual
Compensation for product quality	`CompensationForProductQuality`	$6.09M	USD	Annual
Loss in the suspension of work for Daqing factory	`LossInSuspensionOfWorkForDaqingFactory`	$329.32K	USD	Annual
Loss in the suspension of work for Daqing factory	`LossInSuspensionOfWorkForDaqingFactory`	-	USD	Annual
(Loss)/Income before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.20M	USD	Annual
(Loss)/Income before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.82M	USD	Annual
Income tax	`IncomeTaxExpenseBenefit`	$-717.87K	USD	Annual
Income tax	`IncomeTaxExpenseBenefit`	$-585.16K	USD	Annual
Net (Loss)/income	`NetIncomeLoss`	$-3.10M	USD	Annual
Net (Loss)/income	`NetIncomeLoss`	$1.79M	USD	Annual
-Basic (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	Annual
-Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.17	USD	Annual
-Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.13	USD	Annual
-Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	Annual
-Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.50M	shares	Annual
-Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.50M	shares	Annual
-Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.31M	shares	Annual
-Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.31M	shares	Annual

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net (loss) / income	`NetIncomeLoss`	$-3.10M	USD	Annual
Net (loss) / income	`NetIncomeLoss`	$1.79M	USD	Annual
Depreciation	`Depreciation`	$1.94M	USD	Annual
Depreciation	`Depreciation`	$1.73M	USD	Annual
Amortization	`AmortizationOfIntangibleAssets`	$1.98M	USD	Annual
Amortization	`AmortizationOfIntangibleAssets`	$1.99M	USD	Annual
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	$16.35M	USD	Annual
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	$1.17M	USD	Annual
Impairment of fixed assets and intangible assets	`AssetImpairmentCharges`	$2.44M	USD	Annual
Loss on disposal of fixed assets and intangible assets	`LossOnDisposalOfFixedAssetsAndIntangibleAssets`	$2.32M	USD	Annual
Provision for doubtful debts	`ProvisionForDoubtfulAccounts`	$294.87K	USD	Annual
Provision for doubtful debts	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$1.65M	USD	Annual
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-2.42M	USD	Annual
Note receivables	`IncreaseDecreaseInOtherReceivables`	$-285.36K	USD	Annual
Note receivables	`IncreaseDecreaseInOtherReceivables`	$283.36K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$710.54K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$1.31M	USD	Annual
Advances to suppliers	`IncreaseDecreaseInOtherOperatingAssets`	$651.17K	USD	Annual
Advances to suppliers	`IncreaseDecreaseInOtherOperatingAssets`	$-434.60K	USD	Annual
Prepayments	`IncreaseDecreaseInPrepaidExpense`	$741.11K	USD	Annual
Prepayments	`IncreaseDecreaseInPrepaidExpense`	$-423.31K	USD	Annual
Tender deposits	`IncreaseDecreaseInDepositsOutstanding`	$-105.91K	USD	Annual
Tender deposits	`IncreaseDecreaseInDepositsOutstanding`	$281.87K	USD	Annual
Travel advances to shareholders	`IncreaseDecreaseInDueFromOfficersAndStockholdersCurrent`	$-329.32K	USD	Annual
Travel advances to shareholders	`IncreaseDecreaseInDueFromOfficersAndStockholdersCurrent`	$31.08K	USD	Annual
Advances to employees	`IncreaseDecreaseInDueFromEmployeeCurrent`	$40.98K	USD	Annual
Advances to employees	`IncreaseDecreaseInDueFromEmployeeCurrent`	$173.42K	USD	Annual
Deferred tax assets	`IncreaseDecreaseInDeferredIncomeTaxes`	$600.84K	USD	Annual
Deferred tax assets	`IncreaseDecreaseInDeferredIncomeTaxes`	$190.93K	USD	Annual
Amounts due from related companies	`IncreaseDecreaseInDueFromRelatedParties`	$46.48K	USD	Annual
Amounts due from related companies	`IncreaseDecreaseInDueFromRelatedParties`	$777.34K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$263.04K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$583.77K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-385.55K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.79K	USD	Annual
Turnover and other taxes	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$-259.47K	USD	Annual
Turnover and other taxes	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$65.49K	USD	Annual
Expected warranty liabilities	`ExpectedWarrantyLiabilities`	$553.00	USD	Annual
Expected warranty liabilities	`ExpectedWarrantyLiabilities`	$-33.78K	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$799.54K	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$575.27K	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-101.76K	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$428.53K	USD	Annual
Net cash (used in) / provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-5.40M	USD	Annual
Net cash (used in) / provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.30M	USD	Annual
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-66.00K	USD	Annual
Sales proceeds from disposal of fixed assets and intangible assets	`ProceedsFromSaleOfProductiveAssets`	$876.36K	USD	Annual
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$127.23K	USD	Annual
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$557.72K	USD	Annual
Purchase of intangibles	`PaymentsToAcquireIntangibleAssets`	$3.40M	USD	Annual
Net cash provided by / (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-127.23K	USD	Annual
Net cash provided by / (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-3.02M	USD	Annual
Bank borrowings	`ProceedsFromBankDebt`	$-303.41K	USD	Annual
Bank borrowings	`ProceedsFromBankDebt`	$697.54K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-303.41K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$697.54K	USD	Annual
Net in cash and cash equivalents (used)/sourced	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.73M	USD	Annual
Net in cash and cash equivalents (used)/sourced	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.72M	USD	Annual
Effect of foreign currency translation on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$680.44K	USD	Annual
Effect of foreign currency translation on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$527.11K	USD	Annual
Cash and cash equivalents-beginning period	`CashAndCashEquivalentsAtCarryingValue`	$352.46K	USD	Point-in-time
Cash and cash equivalents-beginning period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash and cash equivalents-beginning period	`CashAndCashEquivalentsAtCarryingValue`	$9.59M	USD	Point-in-time
Cash and cash equivalents-end period	`CashAndCashEquivalentsAtCarryingValue`	$352.46K	USD	Point-in-time
Cash and cash equivalents-end period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash and cash equivalents-end period	`CashAndCashEquivalentsAtCarryingValue`	$9.59M	USD	Point-in-time
Tax paid	`IncomeTaxesPaid`	$23.42K	USD	Annual
Tax paid	`IncomeTaxesPaid`	$401.22K	USD	Annual
Interest received	`ProceedsFromIncomeTaxRefunds`	$32.09K	USD	Annual
Interest received	`ProceedsFromIncomeTaxRefunds`	$3.01K	USD	Annual
Interest paid	`InterestPaid`	$17.83K	USD	Annual

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$32.45M	USD	Point-in-time
Balance	`StockholdersEquity`	$31.55M	USD	Point-in-time
Balance	`StockholdersEquity`	$35.18M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	18.50M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	18.50M	shares	Point-in-time
Net income/(loss)	`NetIncomeLoss`	$-3.10M	USD	Annual
Net income/(loss)	`NetIncomeLoss`	$1.79M	USD	Annual
Appropriations to statutory Reserves	`StockholdersEquityOther`	-	USD	Annual
Foreign currency translation Adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$368.94K	USD	Annual
Foreign currency translation Adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$1.84M	USD	Annual
Balance	`StockholdersEquity`	$32.45M	USD	Point-in-time
Balance	`StockholdersEquity`	$31.55M	USD	Point-in-time
Balance	`StockholdersEquity`	$35.18M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	18.50M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	18.50M	shares	Point-in-time

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