10-Q Filing

AGRISOLAR SOLUTIONS, INC. CIK: 1379725 Q1 2011

Filing Information

Form Type	10-Q
Accession Number	`0001137050-11-000230`
Period End Date	20110630
Filing Date	20110819
Fiscal Year	2011
Fiscal Period	Q1
XBRL Instance	agso-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 44 Cash Flow Statement 36 Stockholders Equity 8

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$208.67K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$305.51K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$383.60K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNet`	$12.10M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNet`	$7.57M	USD	Point-in-time
Inventory, net	`InventoryNet`	$1.65M	USD	Point-in-time
Inventory, net	`InventoryNet`	$715.83K	USD	Point-in-time
Prepayments and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$223.28K	USD	Point-in-time
Prepayments and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$238.97K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.76M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.28M	USD	Point-in-time
Intangible asset, net	`FiniteLivedIntangibleAssetsNet`	$10.77K	USD	Point-in-time
Intangible asset, net	`FiniteLivedIntangibleAssetsNet`	$9.78K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.39M	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.32M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$15.68M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$11.09M	USD	Point-in-time
Accounts payable, trade	`AccountsPayableTrade`	$2.17M	USD	Point-in-time
Accounts payable, trade	`AccountsPayableTrade`	$6.10M	USD	Point-in-time
Amount due to a stockholder	`DueToOfficersOrStockholders`	$948.39K	USD	Point-in-time
Amount due to a stockholder	`DueToOfficersOrStockholders`	$903.73K	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$634.28K	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$669.70K	USD	Point-in-time
Promissory note, related party	`NotesPayableRelatedPartiesCurrent`	$500.00K	USD	Point-in-time
Promissory note, related party	`NotesPayableRelatedPartiesCurrent`	$500.00K	USD	Point-in-time
Notes payable, net	`NotesPayable`	$100.00K	USD	Point-in-time
Notes payable, net	`NotesPayable`	$75.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesPayable`	$119.60K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesPayable`	$80.74K	USD	Point-in-time
Dividends payable	`DividendsPayable`	$68.60K	USD	Point-in-time
Dividends payable	`DividendsPayable`	$47.96K	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$1.48M	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$1.43M	USD	Point-in-time
Total liabilities	`Liabilities`	$9.87M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.94M	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, Additional Series	`PreferredStockAdditionalSeriesValue`	$2.73M	USD	Point-in-time
Preferred stock, Additional Series	`PreferredStockAdditionalSeriesValue`	$2.50M	USD	Point-in-time
Common stock	`CommonStockValue`	$63.76K	USD	Point-in-time
Common stock	`CommonStockValue`	$63.76K	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$-350.00K	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$-350.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.40M	USD	Point-in-time
Statutory reserve	`RetainedEarningsAppropriated`	$82.57K	USD	Point-in-time
Statutory reserve	`RetainedEarningsAppropriated`	$82.57K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$182.13K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$122.12K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-1.31M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-1.67M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.15M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.80M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$11.09M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$15.68M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Revenue, net	`SalesRevenueGoodsNet`	$2.93M	USD	1 Quarter
Revenue, net	`SalesRevenueGoodsNet`	$5.56M	USD	1 Quarter
Cost of revenue (inclusive of depreciation)	`CostOfGoodsSold`	$1.92M	USD	1 Quarter
Cost of revenue (inclusive of depreciation)	`CostOfGoodsSold`	$3.90M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.66M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.01M	USD	1 Quarter
Sales and marketing	`SellingExpense`	$170.75K	USD	1 Quarter
Sales and marketing	`SellingExpense`	$437.54K	USD	1 Quarter
General and administrative	`OtherGeneralAndAdministrativeExpense`	$686.35K	USD	1 Quarter
General and administrative	`OtherGeneralAndAdministrativeExpense`	$260.78K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$431.53K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.12M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$581.90K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$540.91K	USD	1 Quarter
Subsidy income	`OtherNonoperatingIncome`	$73.50K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$193.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$125.00	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$-80.82K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$-58.32K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-440.00K	USD	1 Quarter
Total other expense, net	`OtherExpenses`	$-58.13K	USD	1 Quarter
Total other expense, net	`OtherExpenses`	$-447.19K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$134.71K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$482.78K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$98.66K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$166.17K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-31.46K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$384.12K	USD	1 Quarter
Dividend on preferred stock	`DividendsPreferredStock`	$7.50K	USD	1 Quarter
Dividend on preferred stock	`DividendsPreferredStock`	$-20.64K	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$363.48K	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-38.96K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$5.68K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$60.01K	USD	1 Quarter
Comprehensive income (loss)	`OtherComprehensiveIncomeLossTax`	$-33.28K	USD	1 Quarter
Comprehensive income (loss)	`OtherComprehensiveIncomeLossTax`	$423.48K	USD	1 Quarter
Net income (loss) per share basic	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Net income (loss) per share basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net income (loss) per share diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net income (loss) per share diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Weighted average common stock outstanding basic	`WeightedAverageNumberOfSharesIssuedBasic`	63.76M	shares	1 Quarter
Weighted average common stock outstanding basic	`WeightedAverageNumberOfSharesIssuedBasic`	59.18M	shares	1 Quarter
Weighted average common stock outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	59.18M	shares	1 Quarter
Weighted average common stock outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	83.54M	shares	1 Quarter

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-837.50K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.00M	USD	1 Quarter
Purchase of plant and equipment	`PropertyPlantAndEquipmentAdditions`	$-15.31K	USD	1 Quarter
Purchase of plant and equipment	`PropertyPlantAndEquipmentAdditions`	$-112.75K	USD	1 Quarter
Payments on intangible asset	`PaymentsToAcquireIntangibleAssets`	$-2.12K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-112.75K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.43K	USD	1 Quarter
(Repayment to) advances from a stockholder	`IncreaseDecreaseInDueToOfficersAndStockholders`	$19.55K	USD	1 Quarter
(Repayment to) advances from a stockholder	`IncreaseDecreaseInDueToOfficersAndStockholders`	$-44.66K	USD	1 Quarter
Repayments of long-term borrowings	`RepaymentsOfLongTermDebt`	$-29.04K	USD	1 Quarter
Repayments of short-term borrowings	`RepaymentsOfShortTermDebt`	$-46.10K	USD	1 Quarter
Repayments of short-term borrowings	`RepaymentsOfShortTermDebt`	$-435.78K	USD	1 Quarter
Repayment of notes payable	`RepaymentsOfNotesPayable`	$-25.00K	USD	1 Quarter
Proceeds from private placement, net of expenses	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$230.77K	USD	1 Quarter
Proceeds from private placement, net of expenses	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$1.47M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.03M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$115.01K	USD	1 Quarter
Effect of exchange rate changes in cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$4.70K	USD	1 Quarter
Effect of exchange rate changes in cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$64.43K	USD	1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-936.11K	USD	1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$174.93K	USD	1 Quarter
INITIAL CASH AND CASH EQUIVALENT	`CashAndCashEquivalentsAtCarryingValue`	$208.67K	USD	Point-in-time
INITIAL CASH AND CASH EQUIVALENT	`CashAndCashEquivalentsAtCarryingValue`	$305.51K	USD	Point-in-time
INITIAL CASH AND CASH EQUIVALENT	`CashAndCashEquivalentsAtCarryingValue`	$1.24M	USD	Point-in-time
INITIAL CASH AND CASH EQUIVALENT	`CashAndCashEquivalentsAtCarryingValue`	$383.60K	USD	Point-in-time
FINAL CASH AND CASH EQUIVALENT	`CashAndCashEquivalentsAtCarryingValue`	$208.67K	USD	Point-in-time
FINAL CASH AND CASH EQUIVALENT	`CashAndCashEquivalentsAtCarryingValue`	$305.51K	USD	Point-in-time
FINAL CASH AND CASH EQUIVALENT	`CashAndCashEquivalentsAtCarryingValue`	$1.24M	USD	Point-in-time
FINAL CASH AND CASH EQUIVALENT	`CashAndCashEquivalentsAtCarryingValue`	$383.60K	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$59.16K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$1.01K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$126.61K	USD	1 Quarter
Dividend on preferred stock	`DividendsPreferredStock`	$7.50K	USD	1 Quarter
Dividend on preferred stock	`DividendsPreferredStock`	$-20.64K	USD	1 Quarter
Conversion of notes payable into common stock	`ConversionOfStockAmountIssued`	$160.00K	USD	Point-in-time
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-440.00K	USD	1 Quarter

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Stockholder Equity	`StockholdersEquity`	$5.15M	USD	Point-in-time
Stockholder Equity	`StockholdersEquity`	$5.80M	USD	Point-in-time
Net Income (Loss)	`NetIncomeLoss`	$-31.46K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$384.12K	USD	1 Quarter
Dividend on preferred stock	`DividendsPreferredStock`	$7.50K	USD	1 Quarter
Dividend on preferred stock	`DividendsPreferredStock`	$-20.64K	USD	1 Quarter
Stockholder Equity	`StockholdersEquity`	$5.15M	USD	Point-in-time
Stockholder Equity	`StockholdersEquity`	$5.80M	USD	Point-in-time

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