10-Q Filing

SUNWAY GLOBAL INC. CIK: 1096840 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001013762-14-000614`
Period End Date	20140331
Filing Date	20140520
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	suwg-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 36 Cash Flow Statement 64 Stockholders Equity 15

Balance Sheet 82 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
Series B convertible preferred stock, shares issued	`PreferredStockSharesIssued`	160,494.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$442.01K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$141.27K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$147.09K	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`	$7.69M	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
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Inventories	`InventoryNet`	$4.34M	USD	Point-in-time
Inventories	`InventoryNet`	$3.46M	USD	Point-in-time
Advances to suppliers	`RetainageDeposit`	$954.18K	USD	Point-in-time
Advances to suppliers	`RetainageDeposit`	$992.51K	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
Common stock, shares issued	`CommonStockSharesIssued`	18.50M	shares	Point-in-time
Prepayments	`PrepaidExpenseCurrent`	$593.02K	USD	Point-in-time
Prepayments	`PrepaidExpenseCurrent`	$499.27K	USD	Point-in-time
Tender deposits	`DepositsAssetsCurrent`	$425.94K	USD	Point-in-time
Tender deposits	`DepositsAssetsCurrent`	$548.00K	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
Travel advances to shareholders	`DueFromOfficersOrStockholdersCurrent`	$587.00	USD	Point-in-time
Travel advances to shareholders	`DueFromOfficersOrStockholdersCurrent`	$594.00	USD	Point-in-time
Advances to employees	`DueFromEmployeesCurrent`	$1.12M	USD	Point-in-time
Advances to employees	`DueFromEmployeesCurrent`	$500.39K	USD	Point-in-time
Advances to employees	`DueFromEmployeesCurrent`	$913.72K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.32M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.31M	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`	$123.58K	USD	Point-in-time
Amount due from a related company	`DueFromRelatedPartiesNoncurrent`	$400.46K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.83M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.67M	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$5.76M	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$5.99M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$23.53M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$23.86M	USD	Point-in-time
Short term bank loans	`ShortTermBankLoansAndNotesPayable`	$908.62K	USD	Point-in-time
Short term bank loans	`ShortTermBankLoansAndNotesPayable`	$590.46K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.72M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.13M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$4.72K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$3.76K	USD	Point-in-time
Turnover and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$34.32K	USD	Point-in-time
Turnover and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$69.99K	USD	Point-in-time
Expected warranty liabilities	`ProductWarrantyAccrualClassifiedCurrent`	$19.18K	USD	Point-in-time
Expected warranty liabilities	`ProductWarrantyAccrualClassifiedCurrent`	$18.98K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$4.91M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$4.70M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.30M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.46M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.57M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$10.31M	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 March 31, 2014 and December 31, 2013	`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, 2014 and December 31, 2013	`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, 2014 and December 31, 2013	`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, 2014 and December 31, 2013	`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`	$-12.24M	USD	Point-in-time
Retained earnings	`RetainedEarningsUnappropriated`	$-13.04M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$8.47M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$8.09M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$13.96M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$13.54M	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 LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$23.53M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$23.86M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$2.02M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$1.56M	USD	1 Quarter
Cost of net revenues	`CostOfGoodsAndServicesSold`	$755.41K	USD	1 Quarter
Cost of net revenues	`CostOfGoodsAndServicesSold`	$1.21M	USD	1 Quarter
Gross profit	`GrossProfit`	$811.33K	USD	1 Quarter
Gross profit	`GrossProfit`	$801.48K	USD	1 Quarter
Selling expenses	`SellingExpense`	$737.82K	USD	1 Quarter
Selling expenses	`SellingExpense`	$765.37K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$819.89K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.35M	USD	1 Quarter
(Loss) / Income from operations	`OperatingIncomeLoss`	$-1.30M	USD	1 Quarter
(Loss) / Income from operations	`OperatingIncomeLoss`	$-756.24K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$892.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.44K	USD	1 Quarter
Interest expenses	`InterestExpense`	$12.57K	USD	1 Quarter
Interest expenses	`InterestExpense`	$16.10K	USD	1 Quarter
Loss on sale of equipment, net	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Loss on sale of equipment, net	`GainLossOnSaleOfPropertyPlantEquipment`	$-35.12K	USD	1 Quarter
(Loss)/Income before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-18.10M	USD	Annual
(Loss)/Income before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.31M	USD	1 Quarter
(Loss)/Income before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-806.02K	USD	1 Quarter
Income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax	`IncomeTaxExpenseBenefit`	$1.36M	USD	Annual
Net (Loss)/income	`NetIncomeLoss`	$-19.46M	USD	Annual
Net (Loss)/income	`NetIncomeLoss`	$-806.02K	USD	1 Quarter
Net (Loss)/income	`NetIncomeLoss`	$-1.31M	USD	1 Quarter
-Basic	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
-Basic	`EarningsPerShareBasic`	$-0.07	USD	1 Quarter
-Diluted	`EarningsPerShareDiluted`	$-0.06	USD	1 Quarter
-Diluted	`EarningsPerShareDiluted`	$-0.03	USD	1 Quarter
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.50M	shares	1 Quarter
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.50M	shares	1 Quarter
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.50M	shares	Annual
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.31M	shares	1 Quarter
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.31M	shares	1 Quarter
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.31M	shares	Annual

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net (loss) / income	`NetIncomeLoss`	$-19.46M	USD	Annual
Net (loss) / income	`NetIncomeLoss`	$-806.02K	USD	1 Quarter
Net (loss) / income	`NetIncomeLoss`	$-1.31M	USD	1 Quarter
Depreciation	`Depreciation`	$135.33K	USD	1 Quarter
Depreciation	`Depreciation`	$280.69K	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$1.94M	USD	Annual
Amortization	`AmortizationOfIntangibleAssets`	$164.32K	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$511.72K	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$283.14K	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$160.62K	USD	1 Quarter
Note receivables	`IncreaseDecreaseInOtherReceivables`	-	USD	1 Quarter
Note receivables	`IncreaseDecreaseInOtherReceivables`	-	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$844.64K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$380.88K	USD	1 Quarter
Advances to suppliers	`IncreaseDecreaseInOtherOperatingAssets`	$-17.12K	USD	1 Quarter
Advances to suppliers	`IncreaseDecreaseInOtherOperatingAssets`	$-27.66K	USD	1 Quarter
Prepayments	`IncreaseDecreaseInPrepaidExpense`	$112.94K	USD	1 Quarter
Prepayments	`IncreaseDecreaseInPrepaidExpense`	$-87.37K	USD	1 Quarter
Tender deposits	`IncreaseDecreaseInDepositsOutstanding`	$126.64K	USD	1 Quarter
Tender deposits	`IncreaseDecreaseInDepositsOutstanding`	$-3.34K	USD	1 Quarter
Travel advances to shareholders	`IncreaseDecreaseInDueFromOfficersAndStockholdersCurrent`	-	USD	1 Quarter
Travel advances to shareholders	`IncreaseDecreaseInDueFromOfficersAndStockholdersCurrent`	$-41.39K	USD	1 Quarter
Advances to employees	`IncreaseDecreaseInDueFromEmployeeCurrent`	$248.50K	USD	1 Quarter
Advances to employees	`IncreaseDecreaseInDueFromEmployeeCurrent`	$219.79K	USD	1 Quarter
Amounts due from related companies	`IncreaseDecreaseInDueFromRelatedParties`	$-276.88K	USD	1 Quarter
Amounts due from related companies	`IncreaseDecreaseInDueFromRelatedParties`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$433.88K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$950.41K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-908.00	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-4.47K	USD	1 Quarter
Turnover and other taxes	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$-34.92K	USD	1 Quarter
Turnover and other taxes	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$-111.76K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$210.00K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$260.86K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-136.15K	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`	$-602.13K	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`	$6.51K	USD	1 Quarter
Net cash provided by / (used in)investingactivities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-6.51K	USD	1 Quarter
Net cash provided by / (used in)investingactivities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-7.09K	USD	1 Quarter
Bank borrowings/(repayments)	`ProceedsFromBankDebt`	$324.51K	USD	1 Quarter
Bank borrowings/(repayments)	`ProceedsFromBankDebt`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$324.51K	USD	1 Quarter
Net in cash and cash equivalents (used)/sourced	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-284.13K	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`	$-10.79K	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`	$442.01K	USD	Point-in-time
Cash and cash equivalents - beginning period	`CashAndCashEquivalentsAtCarryingValue`	$141.27K	USD	Point-in-time
Cash and cash equivalents - beginning period	`CashAndCashEquivalentsAtCarryingValue`	$147.09K	USD	Point-in-time
Cash and cash equivalents - end period	`CashAndCashEquivalentsAtCarryingValue`	$442.01K	USD	Point-in-time
Cash and cash equivalents - end period	`CashAndCashEquivalentsAtCarryingValue`	$141.27K	USD	Point-in-time
Cash and cash equivalents - end period	`CashAndCashEquivalentsAtCarryingValue`	$147.09K	USD	Point-in-time
Tax paid	`IncomeTaxesPaid`	$4.47K	USD	1 Quarter
Tax paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Interest received	`ProceedsFromIncomeTaxRefunds`	$892.00	USD	1 Quarter
Interest received	`ProceedsFromIncomeTaxRefunds`	$1.44K	USD	1 Quarter
Interest paid	`InterestPaid`	$12.57K	USD	1 Quarter
Interest paid	`InterestPaid`	$16.10K	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$13.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$13.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$35.18M	USD	Point-in-time
Balance	`StockholdersEquity`	$32.45M	USD	Point-in-time
Net income/(loss)	`NetIncomeLoss`	$-19.46M	USD	Annual
Net income/(loss)	`NetIncomeLoss`	$-806.02K	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$-1.31M	USD	1 Quarter
Appropriations to statutory Reserves	`StockholdersEquityOther`	-	USD	1 Quarter
Appropriations to statutory Reserves	`StockholdersEquityOther`	-	USD	Annual
Foreign currency translation Adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$972.88K	USD	Annual
Foreign currency translation Adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$383.54K	USD	1 Quarter
Balance	`StockholdersEquity`	$13.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$13.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$35.18M	USD	Point-in-time
Balance	`StockholdersEquity`	$32.45M	USD	Point-in-time

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