10-Q Filing

AGRISOLAR SOLUTIONS, INC. CIK: 1379725 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001137050-11-000377`
Period End Date	20110930
Filing Date	20111116
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	agso-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 86 Cash Flow Statement 40 Stockholders Equity 12

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$344.30K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNet`	$10.04M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNet`	$7.57M	USD	Point-in-time
Inventory, net	`InventoryNet`	$2.62M	USD	Point-in-time
Inventory, net	`InventoryNet`	$715.83K	USD	Point-in-time
Prepayments and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$312.92K	USD	Point-in-time
Prepayments and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$238.97K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.32M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.76M	USD	Point-in-time
Intangible asset, net	`FiniteLivedIntangibleAssetsNet`	$10.77K	USD	Point-in-time
Intangible asset, net	`FiniteLivedIntangibleAssetsNet`	$9.65K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.34M	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.32M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$14.67M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$11.09M	USD	Point-in-time
Accounts payable, trade	`AccountsPayableTrade`	$5.70M	USD	Point-in-time
Accounts payable, trade	`AccountsPayableTrade`	$2.17M	USD	Point-in-time
Amount due to a stockholder	`DueToOfficersOrStockholders`	$956.18K	USD	Point-in-time
Amount due to a stockholder	`DueToOfficersOrStockholders`	$948.39K	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$593.58K	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`	$75.00K	USD	Point-in-time
Notes payable, net	`NotesPayable`	$100.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesPayable`	$82.42K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesPayable`	$80.74K	USD	Point-in-time
Dividends payable	`DividendsPayable`	$91.76K	USD	Point-in-time
Dividends payable	`DividendsPayable`	$47.96K	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$1.58M	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$1.43M	USD	Point-in-time
Total liabilities	`Liabilities`	$9.58M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.94M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, Additional Series	`PreferredStockAdditionalSeriesValue`	$2.98M	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`	$206.37K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$122.12K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-2.28M	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`	$5.10M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$11.09M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$14.67M	USD	Point-in-time

Income Statement 86 line items

Line Item	Tag	Value	Unit	Period
Revenue, net	`Revenues`	$6.94M	USD	2 Qtrs
Revenue, net	`Revenues`	$5.83M	USD	2 Qtrs
Revenue, net	`Revenues`	$2.90M	USD	1 Quarter
Revenue, net	`Revenues`	$1.38M	USD	1 Quarter
Cost of revenue (inclusive of depreciation)	`CostOfRevenue`	$1.19M	USD	1 Quarter
Cost of revenue (inclusive of depreciation)	`CostOfRevenue`	$1.95M	USD	1 Quarter
Cost of revenue (inclusive of depreciation)	`CostOfRevenue`	$5.09M	USD	2 Qtrs
Cost of revenue (inclusive of depreciation)	`CostOfRevenue`	$3.88M	USD	2 Qtrs
Gross profit	`GrossProfit`	$1.85M	USD	2 Qtrs
Gross profit	`GrossProfit`	$1.95M	USD	2 Qtrs
Gross profit	`GrossProfit`	$183.30K	USD	1 Quarter
Gross profit	`GrossProfit`	$948.41K	USD	1 Quarter
Sales and marketing	`SellingExpense`	$629.21K	USD	2 Qtrs
Sales and marketing	`SellingExpense`	$191.67K	USD	1 Quarter
Sales and marketing	`SellingExpense`	$179.25K	USD	1 Quarter
Sales and marketing	`SellingExpense`	$341.40K	USD	2 Qtrs
General and administrative	`OtherGeneralAndAdministrativeExpense`	$945.81K	USD	1 Quarter
General and administrative	`OtherGeneralAndAdministrativeExpense`	$1.63M	USD	2 Qtrs
General and administrative	`OtherGeneralAndAdministrativeExpense`	$768.03K	USD	2 Qtrs
General and administrative	`OtherGeneralAndAdministrativeExpense`	$507.25K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.14M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$686.50K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.26M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.11M	USD	2 Qtrs
(Loss) income from operations	`IncomeLossFromContinuingOperations`	$261.91K	USD	1 Quarter
(Loss) income from operations	`IncomeLossFromContinuingOperations`	$843.80K	USD	2 Qtrs
(Loss) income from operations	`IncomeLossFromContinuingOperations`	$-413.27K	USD	2 Qtrs
(Loss) income from operations	`IncomeLossFromContinuingOperations`	$-954.18K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$247.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$530.00	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$337.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$372.00	USD	2 Qtrs
Interest expense	`InterestExpense`	$-38.41K	USD	1 Quarter
Interest expense	`InterestExpense`	$-89.50K	USD	2 Qtrs
Interest expense	`InterestExpense`	$-96.73K	USD	2 Qtrs
Interest expense	`InterestExpense`	$-8.68K	USD	1 Quarter
Subsidy income	`OtherNonoperatingIncome`	$73.50K	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-440.00K	USD	2 Qtrs
Total other expense, net	`OtherExpenses`	$-8.43K	USD	1 Quarter
Total other expense, net	`OtherExpenses`	$-455.62K	USD	2 Qtrs
Total other expense, net	`OtherExpenses`	$-96.20K	USD	2 Qtrs
Total other expense, net	`OtherExpenses`	$-38.07K	USD	1 Quarter
(Loss) income before income taxes	`ResultsOfOperationsIncomeBeforeIncomeTaxes`	$-509.47K	USD	2 Qtrs
(Loss) income before income taxes	`ResultsOfOperationsIncomeBeforeIncomeTaxes`	$253.48K	USD	1 Quarter
(Loss) income before income taxes	`ResultsOfOperationsIncomeBeforeIncomeTaxes`	$-992.25K	USD	1 Quarter
(Loss) income before income taxes	`ResultsOfOperationsIncomeBeforeIncomeTaxes`	$388.18K	USD	2 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$37.33K	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$49.73K	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-61.34K	USD	2 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-116.44K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-954.92K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$303.21K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-570.80K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$271.75K	USD	2 Qtrs
Dividend on preferred stock	`DividendsPreferredStock`	$15.60K	USD	1 Quarter
Dividend on preferred stock	`DividendsPreferredStock`	$43.80K	USD	2 Qtrs
Dividend on preferred stock	`DividendsPreferredStock`	$23.10K	USD	2 Qtrs
Dividend on preferred stock	`DividendsPreferredStock`	$23.16K	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$287.61K	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-614.61K	USD	2 Qtrs
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$248.65K	USD	2 Qtrs
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-978.08K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$21.35K	USD	2 Qtrs
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$84.24K	USD	2 Qtrs
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$24.24K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$15.67K	USD	1 Quarter
Comprehensive income (loss)	`OtherComprehensiveIncomeLossTax`	$269.99K	USD	2 Qtrs
Comprehensive income (loss)	`OtherComprehensiveIncomeLossTax`	$-530.36K	USD	2 Qtrs
Comprehensive income (loss)	`OtherComprehensiveIncomeLossTax`	$303.27K	USD	1 Quarter
Comprehensive income (loss)	`OtherComprehensiveIncomeLossTax`	$-953.85K	USD	1 Quarter
Net income (loss) per share basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net income (loss) per share basic	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Net income (loss) per share basic	`EarningsPerShareBasic`	$-0.01	USD	2 Qtrs
Net income (loss) per share basic	`EarningsPerShareBasic`	-	USD	2 Qtrs
Net income (loss) per share diluted	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Net income (loss) per share diluted	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Net income (loss) per share diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net income (loss) per share diluted	`EarningsPerShareDiluted`	$-0.01	USD	2 Qtrs
Weighted average common stock outstanding basic	`WeightedAverageNumberOfSharesIssuedBasic`	63.76M	shares	1 Quarter
Weighted average common stock outstanding basic	`WeightedAverageNumberOfSharesIssuedBasic`	59.55M	shares	1 Quarter
Weighted average common stock outstanding basic	`WeightedAverageNumberOfSharesIssuedBasic`	63.76M	shares	2 Qtrs
Weighted average common stock outstanding basic	`WeightedAverageNumberOfSharesIssuedBasic`	59.37M	shares	2 Qtrs
Weighted average common stock outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	63.76M	shares	1 Quarter
Weighted average common stock outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	78.40M	shares	1 Quarter
Weighted average common stock outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	63.76M	shares	2 Qtrs
Weighted average common stock outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	76.49M	shares	2 Qtrs

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.18M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.25M	USD	2 Qtrs
Purchase of plant and equipment	`PropertyPlantAndEquipmentAdditions`	$-113.49K	USD	2 Qtrs
Purchase of plant and equipment	`PropertyPlantAndEquipmentAdditions`	$-57.26K	USD	2 Qtrs
Payments on intangible asset	`PaymentsToAcquireIntangibleAssets`	$-3.27K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-113.49K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-60.53K	USD	2 Qtrs
Advances from an officer or stockholder	`IncreaseDecreaseDueFromOfficersAndStockholders`	$196.02K	USD	2 Qtrs
Advances from an officer or stockholder	`IncreaseDecreaseDueFromOfficersAndStockholders`	$7.79K	USD	2 Qtrs
Repayments of long-term borrowings	`RepaymentsOfLongTermDebt`	$-29.04K	USD	2 Qtrs
Proceeds from short-term borrowings	`ProceedsFromShortTermDebt`	$603.25K	USD	2 Qtrs
Proceeds from short-term borrowings	`ProceedsFromShortTermDebt`	$746.48K	USD	2 Qtrs
Repayments of short-term borrowings	`RepaymentsOfShortTermDebt`	$-409.90K	USD	2 Qtrs
Repayments of short-term borrowings	`RepaymentsOfShortTermDebt`	$-696.06K	USD	2 Qtrs
Repayment of notes payable	`RepaymentsOfNotesPayable`	$-25.00K	USD	2 Qtrs
Proceeds from private placement, net of expenses	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$480.77K	USD	2 Qtrs
Proceeds from private placement, net of expenses	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$1.72M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$370.76K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.22M	USD	2 Qtrs
Effect of exchange rate changes in cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$97.76K	USD	2 Qtrs
Effect of exchange rate changes in cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$10.70K	USD	2 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-897.32K	USD	2 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.63K	USD	2 Qtrs
INITIAL CASH AND CASH EQUIVALENT	`CashEquivalentsAtCarryingValue`	$208.67K	USD	Point-in-time
INITIAL CASH AND CASH EQUIVALENT	`CashEquivalentsAtCarryingValue`	$1.24M	USD	Point-in-time
INITIAL CASH AND CASH EQUIVALENT	`CashEquivalentsAtCarryingValue`	$202.04K	USD	Point-in-time
INITIAL CASH AND CASH EQUIVALENT	`CashEquivalentsAtCarryingValue`	$344.30K	USD	Point-in-time
FINAL CASH AND CASH EQUIVALENT	`CashEquivalentsAtCarryingValue`	$208.67K	USD	Point-in-time
FINAL CASH AND CASH EQUIVALENT	`CashEquivalentsAtCarryingValue`	$1.24M	USD	Point-in-time
FINAL CASH AND CASH EQUIVALENT	`CashEquivalentsAtCarryingValue`	$202.04K	USD	Point-in-time
FINAL CASH AND CASH EQUIVALENT	`CashEquivalentsAtCarryingValue`	$344.30K	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$59.16K	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$6.48K	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$138.45K	USD	2 Qtrs
Dividend on preferred stock	`DividendsPreferredStock`	$15.60K	USD	1 Quarter
Dividend on preferred stock	`DividendsPreferredStock`	$43.80K	USD	2 Qtrs
Dividend on preferred stock	`DividendsPreferredStock`	$23.10K	USD	2 Qtrs
Dividend on preferred stock	`DividendsPreferredStock`	$23.16K	USD	1 Quarter
Conversion of notes payable into common stock	`ConversionOfStockAmountIssued1`	$160.00K	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-440.00K	USD	2 Qtrs

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Stockholder Equity	`StockholdersEquity`	$5.15M	USD	Point-in-time
Stockholder Equity	`StockholdersEquity`	$5.10M	USD	Point-in-time
Net Income (Loss)	`NetIncomeLoss`	$-954.92K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$303.21K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-570.80K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$271.75K	USD	2 Qtrs
Dividend on preferred stock	`DividendsPreferredStock`	$15.60K	USD	1 Quarter
Dividend on preferred stock	`DividendsPreferredStock`	$43.80K	USD	2 Qtrs
Dividend on preferred stock	`DividendsPreferredStock`	$23.10K	USD	2 Qtrs
Dividend on preferred stock	`DividendsPreferredStock`	$23.16K	USD	1 Quarter
Stockholder Equity	`StockholdersEquity`	$5.15M	USD	Point-in-time
Stockholder Equity	`StockholdersEquity`	$5.10M	USD	Point-in-time

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