10-Q Filing

SUNWAY GLOBAL INC. CIK: 1096840 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001013762-13-000757`
Period End Date	20130331
Filing Date	20130520
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	suwg-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 91 Income Statement 35 Cash Flow Statement 61 Stockholders Equity 16

Balance Sheet 91 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`	$1.55M	USD	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`	$547.30K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$141.27K	USD	Point-in-time
Series B convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	160,494.00	shares	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$8.60M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$8.79M	USD	Point-in-time
Series B convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	160,494.00	shares	Point-in-time
Notes receivables	`NotesAndLoansReceivableNetCurrent`	-	USD	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`	-	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
Inventories	`InventoryNet`	$4.49M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.50M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.50M	shares	Point-in-time
Advances to suppliers	`RetainageDeposit`	$1.50M	USD	Point-in-time
Advances to suppliers	`RetainageDeposit`	$1.49M	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`	$550.11K	USD	Point-in-time
Prepayments	`PrepaidExpenseCurrent`	$435.17K	USD	Point-in-time
Tender deposits	`DepositsAssetsCurrent`	$460.47K	USD	Point-in-time
Tender deposits	`DepositsAssetsCurrent`	$459.11K	USD	Point-in-time
Travel advances to shareholders	`DueFromOfficersOrStockholdersCurrent`	$577.00	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
Advances to employees	`DueFromEmployeesCurrent`	$500.39K	USD	Point-in-time
Advances to employees	`DueFromEmployeesCurrent`	$455.67K	USD	Point-in-time
Advances to employees	`DueFromEmployeesCurrent`	$751.33K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$1.35M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$1.35M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.56M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.02M	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`	$128.34K	USD	Point-in-time
Amount due from a related company	`DueFromRelatedPartiesNoncurrent`	$127.79K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.28M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.03M	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$12.76M	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$12.30M	USD	Point-in-time
Deposit for technology-based designed	`DepositsAssetsNoncurrent`	$3.44M	USD	Point-in-time
Deposit for technology-based designed	`DepositsAssetsNoncurrent`	$3.43M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$38.92M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$38.16M	USD	Point-in-time
Short term bank loans	`ShortTermBankLoansAndNotesPayable`	$701.30K	USD	Point-in-time
Short term bank loans	`ShortTermBankLoansAndNotesPayable`	$698.29K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.17M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.21M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$3.69K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$8.13K	USD	Point-in-time
Turnover and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$143.70K	USD	Point-in-time
Turnover and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$32.43K	USD	Point-in-time
Expected warranty liabilities	`ProductWarrantyAccrualClassifiedCurrent`	$21.72K	USD	Point-in-time
Expected warranty liabilities	`ProductWarrantyAccrualClassifiedCurrent`	$21.81K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$2.78M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$2.56M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.65M	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`	$7.37M	USD	Point-in-time
Warrants liabilities	`DerivativeLiabilitiesNoncurrent`	-	USD	Point-in-time
Warrants liabilities	`DerivativeLiabilitiesNoncurrent`	-	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.71M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$7.37M	USD	Point-in-time
Series B Convertible Preferred Stock $0.0000001 par value; 400,000 shares authorized; 160,494 shares issued and outstanding at March 31, 2013 and December 31, 2012	`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 March 31, 2013 and December 31, 2012	`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 March 31, 2013 and December 31, 2012	`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 March 31, 2013 and December 31, 2012	`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`	$4.28M	USD	Point-in-time
Statutory reserves	`RetainedEarningsAppropriated`	$4.28M	USD	Point-in-time
Retained earnings	`RetainedEarningsUnappropriated`	$5.91M	USD	Point-in-time
Retained earnings	`RetainedEarningsUnappropriated`	$7.22M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$7.53M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$7.12M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$35.18M	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 LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$38.16M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$38.92M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$2.02M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$2.01M	USD	1 Quarter
Cost of net revenues	`CostOfGoodsAndServicesSold`	$949.67K	USD	1 Quarter
Cost of net revenues	`CostOfGoodsAndServicesSold`	$1.21M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.06M	USD	1 Quarter
Gross profit	`GrossProfit`	$811.33K	USD	1 Quarter
Selling expenses	`SellingExpense`	$765.37K	USD	1 Quarter
Selling expenses	`SellingExpense`	$542.55K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.35M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.73M	USD	1 Quarter
(Loss) / Income from operations	`OperatingIncomeLoss`	$-1.30M	USD	1 Quarter
(Loss) / Income from operations	`OperatingIncomeLoss`	$-1.21M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.52K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$892.00	USD	1 Quarter
Interest expenses	`InterestExpense`	$12.57K	USD	1 Quarter
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	$967.87K	USD	1 Quarter
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
(Loss)/Income before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-245.17K	USD	1 Quarter
(Loss)/Income before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.82M	USD	Annual
(Loss)/Income before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.31M	USD	1 Quarter
Income tax	`IncomeTaxExpenseBenefit`	$-36.67K	USD	1 Quarter
Income tax	`IncomeTaxExpenseBenefit`	$-717.87K	USD	Annual
Net (Loss)/income	`NetIncomeLoss`	$-1.31M	USD	1 Quarter
Net (Loss)/income	`NetIncomeLoss`	$-208.50K	USD	1 Quarter
Net (Loss)/income	`NetIncomeLoss`	$-3.10M	USD	Annual
-Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.07	USD	1 Quarter
-Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
-Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.06	USD	1 Quarter
-Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
-Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.50M	shares	1 Quarter
-Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.50M	shares	1 Quarter
-Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.50M	shares	Annual
-Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.31M	shares	Annual
-Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.31M	shares	1 Quarter
-Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.31M	shares	1 Quarter

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net (loss) / income	`NetIncomeLoss`	$-1.31M	USD	1 Quarter
Net (loss) / income	`NetIncomeLoss`	$-208.50K	USD	1 Quarter
Net (loss) / income	`NetIncomeLoss`	$-3.10M	USD	Annual
Depreciation	`Depreciation`	$526.11K	USD	1 Quarter
Depreciation	`Depreciation`	$280.69K	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$511.72K	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$493.27K	USD	1 Quarter
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	$967.87K	USD	1 Quarter
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$574.03K	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$160.62K	USD	1 Quarter
Note receivables	`IncreaseDecreaseInOtherReceivables`	$-206.43K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$650.64K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$844.64K	USD	1 Quarter
Advances to suppliers	`IncreaseDecreaseInOtherOperatingAssets`	$-17.12K	USD	1 Quarter
Advances to suppliers	`IncreaseDecreaseInOtherOperatingAssets`	$895.32K	USD	1 Quarter
Prepayments	`IncreaseDecreaseInPrepaidExpense`	$-235.22K	USD	1 Quarter
Prepayments	`IncreaseDecreaseInPrepaidExpense`	$112.94K	USD	1 Quarter
Tender deposits	`IncreaseDecreaseInDepositsOutstanding`	$-3.34K	USD	1 Quarter
Tender deposits	`IncreaseDecreaseInDepositsOutstanding`	$40.30K	USD	1 Quarter
Travel advances to shareholders	`IncreaseDecreaseInDueFromOfficersAndStockholdersCurrent`	$-41.39K	USD	1 Quarter
Travel advances to shareholders	`IncreaseDecreaseInDueFromOfficersAndStockholdersCurrent`	$31.77K	USD	1 Quarter
Advances to employees	`IncreaseDecreaseInDueFromEmployeeCurrent`	$17.68K	USD	1 Quarter
Advances to employees	`IncreaseDecreaseInDueFromEmployeeCurrent`	$248.50K	USD	1 Quarter
Deferred tax assets	`IncreaseDecreaseInDeferredIncomeTaxes`	$36.78K	USD	1 Quarter
Amounts due from related companies	`IncreaseDecreaseInDueFromRelatedParties`	$24.75K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$477.35K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$950.41K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-4.47K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-564.00	USD	1 Quarter
Turnover and other taxes	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$-111.76K	USD	1 Quarter
Turnover and other taxes	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$-48.43K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$313.63K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$210.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$189.99K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$587.82K	USD	1 Quarter
Net cash (used in) / provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-193.91K	USD	1 Quarter
Net cash (used in) / provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.05M	USD	1 Quarter
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	1 Quarter
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	1 Quarter
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.09K	USD	1 Quarter
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.42K	USD	1 Quarter
Net cash provided by / (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-7.09K	USD	1 Quarter
Net cash provided by / (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-19.42K	USD	1 Quarter
Net in cash and cash equivalents (used)/sourced	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.07M	USD	1 Quarter
Net in cash and cash equivalents (used)/sourced	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-200.99K	USD	1 Quarter
Effect of foreign currency translation on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$70.44K	USD	1 Quarter
Effect of foreign currency translation on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-10.20K	USD	1 Quarter
Cash and cash equivalents-beginning period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash and cash equivalents-beginning period	`CashAndCashEquivalentsAtCarryingValue`	$352.46K	USD	Point-in-time
Cash and cash equivalents-beginning period	`CashAndCashEquivalentsAtCarryingValue`	$547.30K	USD	Point-in-time
Cash and cash equivalents-beginning period	`CashAndCashEquivalentsAtCarryingValue`	$141.27K	USD	Point-in-time
Cash and cash equivalents-end period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash and cash equivalents-end period	`CashAndCashEquivalentsAtCarryingValue`	$352.46K	USD	Point-in-time
Cash and cash equivalents-end period	`CashAndCashEquivalentsAtCarryingValue`	$547.30K	USD	Point-in-time
Cash and cash equivalents-end period	`CashAndCashEquivalentsAtCarryingValue`	$141.27K	USD	Point-in-time
Tax paid	`IncomeTaxesPaid`	$101.00	USD	1 Quarter
Tax paid	`IncomeTaxesPaid`	$4.47K	USD	1 Quarter
Interest received	`ProceedsFromIncomeTaxRefunds`	$892.00	USD	1 Quarter
Interest received	`ProceedsFromIncomeTaxRefunds`	$1.52K	USD	1 Quarter
Interest paid	`InterestPaid`	$12.57K	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$35.18M	USD	Point-in-time
Balance	`StockholdersEquity`	$32.45M	USD	Point-in-time
Balance	`StockholdersEquity`	$31.55M	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`	$-1.31M	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$-208.50K	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$-3.10M	USD	Annual
Appropriations to statutory Reserves	`StockholdersEquityOther`	-	USD	1 Quarter
Foreign currency translation Adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$368.94K	USD	Annual
Foreign currency translation Adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$415.16K	USD	1 Quarter
Balance	`StockholdersEquity`	$35.18M	USD	Point-in-time
Balance	`StockholdersEquity`	$32.45M	USD	Point-in-time
Balance	`StockholdersEquity`	$31.55M	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.