10-K Filing

SUNWAY GLOBAL INC. CIK: 1096840 FY 2013

Filing Information

Form Type	10-K
Accession Number	`0001013762-14-000394`
Period End Date	20131231
Filing Date	20140414
Fiscal Year	2013
Fiscal Period	FY
XBRL Instance	suwg-20131231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 38 Cash Flow Statement 76 Stockholders Equity 16

Balance Sheet 86 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$442.01K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$352.46K	USD	Point-in-time
Series B convertible preferred stock, shares issued	`PreferredStockSharesIssued`	160,494.00	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 outstanding	`PreferredStockSharesOutstanding`	160,494.00	shares	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$7.49M	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
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Inventories	`InventoryNet`	$3.46M	USD	Point-in-time
Inventories	`InventoryNet`	$3.34M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Advances to suppliers	`RetainageDeposit`	$1.50M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Advances to suppliers	`RetainageDeposit`	$992.51K	USD	Point-in-time
Prepayments	`PrepaidExpenseCurrent`	$435.17K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.50M	shares	Point-in-time
Prepayments	`PrepaidExpenseCurrent`	$593.02K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.50M	shares	Point-in-time
Tender deposits	`DepositsAssetsCurrent`	$460.47K	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
Tender deposits	`DepositsAssetsCurrent`	$425.94K	USD	Point-in-time
Travel advances to shareholders	`DueFromOfficersOrStockholdersCurrent`	$594.00	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`	$913.72K	USD	Point-in-time
Advances to employees	`DueFromEmployeesCurrent`	$500.39K	USD	Point-in-time
Advances to employees	`DueFromEmployeesCurrent`	$455.67K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	-	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`	$14.32M	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`	$400.46K	USD	Point-in-time
Amount due from a related company	`DueFromRelatedPartiesNoncurrent`	$127.79K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.83M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.28M	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$5.99M	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$12.76M	USD	Point-in-time
Deposit for technology-based designed	`DepositsAssetsNoncurrent`	-	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`	$23.53M	USD	Point-in-time
Short term bank loans	`ShortTermBankLoansAndNotesPayable`	$698.29K	USD	Point-in-time
Short term bank loans	`ShortTermBankLoansAndNotesPayable`	$590.46K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.21M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.72M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$8.13K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$4.72K	USD	Point-in-time
Turnover and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$69.99K	USD	Point-in-time
Turnover and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$143.70K	USD	Point-in-time
Expected warranty liabilities	`ProductWarrantyAccrualClassifiedCurrent`	$21.72K	USD	Point-in-time
Expected warranty liabilities	`ProductWarrantyAccrualClassifiedCurrent`	$19.18K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$4.70M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$2.56M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.06M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.46M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.57M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.71M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.71M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$9.57M	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, 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 December 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 December 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 December 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`	$7.22M	USD	Point-in-time
Retained earnings	`RetainedEarningsUnappropriated`	$-12.24M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$7.12M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$8.09M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$35.18M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$13.96M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$32.45M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$38.16M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$23.53M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$8.01M	USD	Annual
Net revenues	`SalesRevenueNet`	$9.75M	USD	Annual
Cost of net revenues	`CostOfGoodsAndServicesSold`	$4.24M	USD	Annual
Cost of net revenues	`CostOfGoodsAndServicesSold`	$5.36M	USD	Annual
Gross profit	`GrossProfit`	$4.40M	USD	Annual
Gross profit	`GrossProfit`	$3.77M	USD	Annual
Selling expenses	`SellingExpense`	$3.22M	USD	Annual
Selling expenses	`SellingExpense`	$3.39M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.15M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$5.20M	USD	Annual
(Loss) / Income from operations	`OperatingIncomeLoss`	$-4.97M	USD	Annual
(Loss) / Income from operations	`OperatingIncomeLoss`	$-4.83M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.56K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$3.01K	USD	Annual
Interest expenses	`InterestExpense`	$52.16K	USD	Annual
Interest expenses	`InterestExpense`	$17.83K	USD	Annual
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	Annual
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	$1.17M	USD	Annual
Impairment of fixed assets and intangible assets	`AssetImpairmentCharges`	$10.11M	USD	Annual
Impairment of fixed assets and intangible assets	`AssetImpairmentCharges`	-	USD	Annual
Loss on disposal of fixed assets and intangible assets	`GainLossOnDispositionOfIntangibleAssets`	$-9.74K	USD	Annual
Loss on disposal of fixed assets and intangible assets	`GainLossOnDispositionOfIntangibleAssets`	-	USD	Annual
Provision for doubtful debts	`ProvisionForDoubtfulAccounts`	$3.10M	USD	Annual
Provision for doubtful debts	`ProvisionForDoubtfulAccounts`	-	USD	Annual
(Loss)/Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.82M	USD	Annual
(Loss)/Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-18.10M	USD	Annual
Income tax	`IncomeTaxExpenseBenefit`	$-717.87K	USD	Annual
Income tax	`IncomeTaxExpenseBenefit`	$1.36M	USD	Annual
Net (Loss)/income	`NetIncomeLoss`	$-3.10M	USD	Annual
Net (Loss)/income	`NetIncomeLoss`	$-19.46M	USD	Annual
-Basic	`EarningsPerShareBasic`	$-1.05	USD	Annual
-Basic	`EarningsPerShareBasic`	$-0.17	USD	Annual
-Diluted	`EarningsPerShareDiluted`	$-0.83	USD	Annual
-Diluted	`EarningsPerShareDiluted`	$-0.13	USD	Annual
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.50M	shares	Annual
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.50M	shares	Annual
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.31M	shares	Annual
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.31M	shares	Annual

Cash Flow Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net (loss) / income	`NetIncomeLoss`	$-3.10M	USD	Annual
Net (loss) / income	`NetIncomeLoss`	$-19.46M	USD	Annual
Depreciation	`Depreciation`	$1.73M	USD	Annual
Depreciation	`Depreciation`	$1.20M	USD	Annual
Amortization	`AmortizationOfIntangibleAssets`	$1.98M	USD	Annual
Amortization	`AmortizationOfIntangibleAssets`	$1.94M	USD	Annual
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	Annual
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	$1.17M	USD	Annual
Impairment of fixed assets and intangible assets	`AssetImpairmentCharges`	$10.11M	USD	Annual
Impairment of fixed assets and intangible assets	`AssetImpairmentCharges`	-	USD	Annual
Loss on disposal of fixed assets and intangible assets	`GainLossOnDispositionOfIntangibleAssets`	$-9.74K	USD	Annual
Loss on disposal of fixed assets and intangible assets	`GainLossOnDispositionOfIntangibleAssets`	-	USD	Annual
Provision for doubtful debts	`ProvisionForDoubtfulAccounts`	$3.10M	USD	Annual
Provision for doubtful debts	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Impairment on investment Changes in fair value of warrants	`FairValueAdjustmentOfWarrants`	$1.17M	USD	Annual
Impairment on investment Changes in fair value of warrants	`FairValueAdjustmentOfWarrants`	-	USD	Annual
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$1.65M	USD	Annual
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$1.73M	USD	Annual
Note receivables	`IncreaseDecreaseInOtherReceivables`	-	USD	Annual
Note receivables	`IncreaseDecreaseInOtherReceivables`	$-285.36K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$710.54K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$248.46K	USD	Annual
Advances to suppliers	`IncreaseDecreaseInOtherOperatingAssets`	$651.17K	USD	Annual
Advances to suppliers	`IncreaseDecreaseInOtherOperatingAssets`	$-545.00K	USD	Annual
Prepayments	`IncreaseDecreaseInPrepaidExpense`	$-423.31K	USD	Annual
Prepayments	`IncreaseDecreaseInPrepaidExpense`	$141.09K	USD	Annual
Tender deposits	`IncreaseDecreaseInDepositsOutstanding`	$-49.19K	USD	Annual
Tender deposits	`IncreaseDecreaseInDepositsOutstanding`	$281.87K	USD	Annual
Travel advances to shareholders	`IncreaseDecreaseInDueFromOfficersAndStockholdersCurrent`	$-41.99K	USD	Annual
Travel advances to shareholders	`IncreaseDecreaseInDueFromOfficersAndStockholdersCurrent`	$31.08K	USD	Annual
Advances to employees	`IncreaseDecreaseInDueFromEmployeeCurrent`	$390.54K	USD	Annual
Advances to employees	`IncreaseDecreaseInDueFromEmployeeCurrent`	$40.98K	USD	Annual
Deferred tax assets	`IncreaseDecreaseInDeferredIncomeTaxes`	$-1.35M	USD	Annual
Deferred tax assets	`IncreaseDecreaseInDeferredIncomeTaxes`	$190.93K	USD	Annual
Amounts due from related companies	`IncreaseDecreaseInDueFromRelatedParties`	$311.61K	USD	Annual
Amounts due from related companies	`IncreaseDecreaseInDueFromRelatedParties`	$777.34K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$459.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$583.77K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-3.63K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.79K	USD	Annual
Turnover and other taxes	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$-77.33K	USD	Annual
Turnover and other taxes	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$65.49K	USD	Annual
Expected warranty liabilities	`ExpectedWarrantyLiabilities`	$-3.21K	USD	Annual
Expected warranty liabilities	`ExpectedWarrantyLiabilities`	$553.00	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$799.54K	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$2.02M	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$428.53K	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.35M	USD	Annual
Net cash (used in) / provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.30M	USD	Annual
Net cash (used in) / provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-183.61K	USD	Annual
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	Annual
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	Annual
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$127.23K	USD	Annual
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$91.47K	USD	Annual
Net cash provided by / (used in)investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-91.47K	USD	Annual
Net cash provided by / (used in)investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-127.23K	USD	Annual
Bank borrowings/(repayments)	`ProceedsFromBankDebt`	$-129.22K	USD	Annual
Bank borrowings/(repayments)	`ProceedsFromBankDebt`	$697.54K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$697.54K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-129.22K	USD	Annual
Net in cash and cash equivalents (used)/sourced	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-404.30K	USD	Annual
Net in cash and cash equivalents (used)/sourced	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.73M	USD	Annual
cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$527.11K	USD	Annual
cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$493.85K	USD	Annual
Cash and cash equivalents - beginning period	`CashAndCashEquivalentsAtCarryingValue`	$442.01K	USD	Point-in-time
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 - end period	`CashAndCashEquivalentsAtCarryingValue`	$442.01K	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
Tax paid	`IncomeTaxesPaid`	$10.07K	USD	Annual
Tax paid	`IncomeTaxesPaid`	$23.42K	USD	Annual
Interest received	`ProceedsFromIncomeTaxRefunds`	$1.40K	USD	Annual
Interest received	`ProceedsFromIncomeTaxRefunds`	$3.01K	USD	Annual
Interest paid	`InterestPaid`	$17.83K	USD	Annual
Interest paid	`InterestPaid`	$52.16K	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$35.18M	USD	Point-in-time
Balance	`StockholdersEquity`	$13.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$32.45M	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`	$-19.46M	USD	Annual
Appropriations to statutory Reserves	`StockholdersEquityOther`	-	USD	Annual
Appropriations to statutory Reserves	`StockholdersEquityOther`	-	USD	Annual
Foreign currency translation Adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$972.88K	USD	Annual
Foreign currency translation Adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$368.94K	USD	Annual
Balance	`StockholdersEquity`	$35.18M	USD	Point-in-time
Balance	`StockholdersEquity`	$13.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$32.45M	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.