10-Q Filing

AGRISOLAR SOLUTIONS, INC. CIK: 1379725 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0001137050-12-000040`
Period End Date	20111231
Filing Date	20120214
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	agso-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 88 Cash Flow Statement 42 Stockholders Equity 16

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$466.70K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$829.56K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$208.67K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNet`	$11.33M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNet`	$7.57M	USD	Point-in-time
Inventory, net	`InventoryNet`	$715.83K	USD	Point-in-time
Inventory, net	`InventoryNet`	$2.28M	USD	Point-in-time
Prepayments and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$238.97K	USD	Point-in-time
Prepayments and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$614.40K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.76M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.69M	USD	Point-in-time
Intangible asset, net	`FiniteLivedIntangibleAssetsNet`	$10.77K	USD	Point-in-time
Intangible asset, net	`FiniteLivedIntangibleAssetsNet`	$9.51K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.31M	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.32M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$11.09M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$16.01M	USD	Point-in-time
Accounts payable, trade	`AccountsPayableTrade`	$2.17M	USD	Point-in-time
Accounts payable, trade	`AccountsPayableTrade`	$6.20M	USD	Point-in-time
Amount due to a stockholder	`DueToOfficersOrStockholders`	$955.84K	USD	Point-in-time
Amount due to a stockholder	`DueToOfficersOrStockholders`	$948.39K	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$923.06K	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	`NotesPayable`	$75.00K	USD	Point-in-time
Notes payable	`NotesPayable`	$100.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesPayable`	$80.74K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesPayable`	$110.42K	USD	Point-in-time
Dividends payable	`DividendsPayable`	$115.59K	USD	Point-in-time
Dividends payable	`DividendsPayable`	$47.96K	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$1.43M	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$2.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.88M	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`	$2.95M	USD	Point-in-time
Preferred stock, Additional Series	`PreferredStockAdditionalSeriesValue`	$2.50M	USD	Point-in-time
Common stock	`CommonStockValue`	$63.83K	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`	$4.43M	USD	Point-in-time
Statutory reserve	`RetainedEarningsAppropriated`	$171.56K	USD	Point-in-time
Statutory reserve	`RetainedEarningsAppropriated`	$82.57K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$236.52K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$122.12K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-1.67M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-2.37M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.15M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.13M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$16.01M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$11.09M	USD	Point-in-time

Income Statement 88 line items

Line Item	Tag	Value	Unit	Period
Revenue, net	`Revenues`	$7.62M	USD	3 Qtrs
Revenue, net	`Revenues`	$4.15M	USD	1 Quarter
Revenue, net	`Revenues`	$1.79M	USD	1 Quarter
Revenue, net	`Revenues`	$11.09M	USD	3 Qtrs
Cost of revenue (inclusive of depreciation)	`CostOfRevenue`	$1.28M	USD	1 Quarter
Cost of revenue (inclusive of depreciation)	`CostOfRevenue`	$2.79M	USD	1 Quarter
Cost of revenue (inclusive of depreciation)	`CostOfRevenue`	$7.88M	USD	3 Qtrs
Cost of revenue (inclusive of depreciation)	`CostOfRevenue`	$5.16M	USD	3 Qtrs
Gross profit	`GrossProfit`	$3.22M	USD	3 Qtrs
Gross profit	`GrossProfit`	$1.37M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.46M	USD	3 Qtrs
Gross profit	`GrossProfit`	$505.98K	USD	1 Quarter
Sales and marketing	`SellingExpense`	$529.41K	USD	3 Qtrs
Sales and marketing	`SellingExpense`	$512.98K	USD	1 Quarter
Sales and marketing	`SellingExpense`	$188.01K	USD	1 Quarter
Sales and marketing	`SellingExpense`	$1.14M	USD	3 Qtrs
General and administrative	`OtherGeneralAndAdministrativeExpense`	$291.05K	USD	1 Quarter
General and administrative	`OtherGeneralAndAdministrativeExpense`	$733.84K	USD	1 Quarter
General and administrative	`OtherGeneralAndAdministrativeExpense`	$1.06M	USD	3 Qtrs
General and administrative	`OtherGeneralAndAdministrativeExpense`	$2.37M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$479.06K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.25M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.59M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$3.51M	USD	3 Qtrs
Income (loss) from operations	`IncomeLossFromContinuingOperations`	$-292.41K	USD	3 Qtrs
Income (loss) from operations	`IncomeLossFromContinuingOperations`	$120.86K	USD	1 Quarter
Income (loss) from operations	`IncomeLossFromContinuingOperations`	$870.72K	USD	3 Qtrs
Income (loss) from operations	`IncomeLossFromContinuingOperations`	$26.91K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$113.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$485.00	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$578.00	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$48.00	USD	1 Quarter
Interest expense	`InterestExpense`	$-143.42K	USD	3 Qtrs
Interest expense	`InterestExpense`	$-117.21K	USD	3 Qtrs
Interest expense	`InterestExpense`	$-27.72K	USD	1 Quarter
Interest expense	`InterestExpense`	$-46.69K	USD	1 Quarter
Subsidy income	`OtherNonoperatingIncome`	$23.31K	USD	1 Quarter
Subsidy income	`OtherNonoperatingIncome`	$23.31K	USD	3 Qtrs
Subsidy income	`OtherNonoperatingIncome`	$73.50K	USD	3 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$440.00K	USD	3 Qtrs
Total other expense, net	`OtherExpenses`	$-27.60K	USD	1 Quarter
Total other expense, net	`OtherExpenses`	$-23.33K	USD	1 Quarter
Total other expense, net	`OtherExpenses`	$-483.22K	USD	3 Qtrs
Total other expense, net	`OtherExpenses`	$-119.53K	USD	3 Qtrs
Income (loss) before income taxes	`ResultsOfOperationsIncomeBeforeIncomeTaxes`	$97.53K	USD	1 Quarter
Income (loss) before income taxes	`ResultsOfOperationsIncomeBeforeIncomeTaxes`	$387.50K	USD	3 Qtrs
Income (loss) before income taxes	`ResultsOfOperationsIncomeBeforeIncomeTaxes`	$-411.94K	USD	3 Qtrs
Income (loss) before income taxes	`ResultsOfOperationsIncomeBeforeIncomeTaxes`	$-689.00	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$5.78K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$69.42K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$130.75K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$122.22K	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$28.11K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-542.69K	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-6.47K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$265.28K	USD	3 Qtrs
Dividend on preferred stock	`DividendsPreferredStock`	$23.83K	USD	1 Quarter
Dividend on preferred stock	`DividendsPreferredStock`	$67.64K	USD	3 Qtrs
Dividend on preferred stock	`DividendsPreferredStock`	$12.26K	USD	1 Quarter
Dividend on preferred stock	`DividendsPreferredStock`	$35.36K	USD	3 Qtrs
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$229.92K	USD	3 Qtrs
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-18.73K	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-610.33K	USD	3 Qtrs
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$4.28K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$30.15K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$70.42K	USD	3 Qtrs
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$49.08K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$114.39K	USD	3 Qtrs
Comprehensive income (loss)	`OtherComprehensiveIncomeLossTax`	$34.43K	USD	1 Quarter
Comprehensive income (loss)	`OtherComprehensiveIncomeLossTax`	$-495.94K	USD	3 Qtrs
Comprehensive income (loss)	`OtherComprehensiveIncomeLossTax`	$30.35K	USD	1 Quarter
Comprehensive income (loss)	`OtherComprehensiveIncomeLossTax`	$300.34K	USD	3 Qtrs
Net income (loss) per share basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net income (loss) per share basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net income (loss) per share basic	`EarningsPerShareBasic`	-	USD	3 Qtrs
Net income (loss) per share basic	`EarningsPerShareBasic`	$-0.01	USD	3 Qtrs
Net income (loss) per share diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net income (loss) per share diluted	`EarningsPerShareDiluted`	$-0.01	USD	3 Qtrs
Net income (loss) per share diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net income (loss) per share diluted	`EarningsPerShareDiluted`	-	USD	3 Qtrs
Weighted average common stock outstanding basic	`WeightedAverageNumberOfSharesIssuedBasic`	63.78M	shares	3 Qtrs
Weighted average common stock outstanding basic	`WeightedAverageNumberOfSharesIssuedBasic`	63.82M	shares	1 Quarter
Weighted average common stock outstanding basic	`WeightedAverageNumberOfSharesIssuedBasic`	59.43M	shares	3 Qtrs
Weighted average common stock outstanding basic	`WeightedAverageNumberOfSharesIssuedBasic`	59.55M	shares	1 Quarter
Weighted average common stock outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	80.40M	shares	1 Quarter
Weighted average common stock outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	77.69M	shares	3 Qtrs
Weighted average common stock outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	63.78M	shares	3 Qtrs
Weighted average common stock outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	72.25M	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.45M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.80M	USD	3 Qtrs
Purchase of property, plant and equipment	`PropertyPlantAndEquipmentAdditions`	$-127.14K	USD	3 Qtrs
Purchase of property, plant and equipment	`PropertyPlantAndEquipmentAdditions`	$-64.96K	USD	3 Qtrs
Payments on intangible asset	`PaymentsToAcquireIntangibleAssets`	$-3.27K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-68.23K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-127.14K	USD	3 Qtrs
Advances from an officer or stockholder	`IncreaseDecreaseDueFromOfficersAndStockholders`	$370.92K	USD	3 Qtrs
Advances from an officer or stockholder	`IncreaseDecreaseDueFromOfficersAndStockholders`	$7.45K	USD	3 Qtrs
Repayments of long-term borrowings	`RepaymentsOfLongTermDebt`	$-29.03K	USD	3 Qtrs
Proceeds from short-term borrowings	`ProceedsFromShortTermDebt`	$710.85K	USD	3 Qtrs
Proceeds from short-term borrowings	`ProceedsFromShortTermDebt`	$1.03M	USD	3 Qtrs
Repayments of short-term borrowings	`RepaymentsOfShortTermDebt`	$-797.37K	USD	3 Qtrs
Repayments of short-term borrowings	`RepaymentsOfShortTermDebt`	$-438.85K	USD	3 Qtrs
Repayment of notes payable	`RepaymentsOfNotesPayable`	$-25.00K	USD	3 Qtrs
Proceeds from private placement, net of expenses	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$1.82M	USD	3 Qtrs
Proceeds from private placement, net of expenses	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$480.77K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$694.97K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.43M	USD	3 Qtrs
Effect of exchange rate changes in cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$104.86K	USD	3 Qtrs
Effect of exchange rate changes in cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$57.08K	USD	3 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-774.92K	USD	3 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$620.89K	USD	3 Qtrs
INITIAL CASH AND CASH EQUIVALENT	`CashAndCashEquivalentsAtCarryingValue`	$1.24M	USD	Point-in-time
INITIAL CASH AND CASH EQUIVALENT	`CashAndCashEquivalentsAtCarryingValue`	$466.70K	USD	Point-in-time
INITIAL CASH AND CASH EQUIVALENT	`CashAndCashEquivalentsAtCarryingValue`	$829.56K	USD	Point-in-time
INITIAL CASH AND CASH EQUIVALENT	`CashAndCashEquivalentsAtCarryingValue`	$208.67K	USD	Point-in-time
FINAL CASH AND CASH EQUIVALENT	`CashAndCashEquivalentsAtCarryingValue`	$1.24M	USD	Point-in-time
FINAL CASH AND CASH EQUIVALENT	`CashAndCashEquivalentsAtCarryingValue`	$466.70K	USD	Point-in-time
FINAL CASH AND CASH EQUIVALENT	`CashAndCashEquivalentsAtCarryingValue`	$829.56K	USD	Point-in-time
FINAL CASH AND CASH EQUIVALENT	`CashAndCashEquivalentsAtCarryingValue`	$208.67K	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$59.16K	USD	3 Qtrs
Cash paid for interest	`InterestPaid`	$14.90K	USD	3 Qtrs
Cash paid for interest	`InterestPaid`	$160.23K	USD	3 Qtrs
Dividend on preferred stock	`DividendsPreferredStock`	$23.83K	USD	1 Quarter
Dividend on preferred stock	`DividendsPreferredStock`	$67.64K	USD	3 Qtrs
Dividend on preferred stock	`DividendsPreferredStock`	$12.26K	USD	1 Quarter
Dividend on preferred stock	`DividendsPreferredStock`	$35.36K	USD	3 Qtrs
Conversion of preferred stock into common stock	`ConversionOfStockAmountIssued1`	$25.00K	USD	3 Qtrs
Conversion of short-term borrowings into common stock	`ConvertiblePreferredStockConvertedToOtherSecurities`	$438.85K	USD	3 Qtrs
Conversion of note payable into common stock	`ConversionOfStockAmountConverted1`	$160.00K	USD	3 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$440.00K	USD	3 Qtrs

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Stockholder Equity	`StockholdersEquity`	$5.15M	USD	Point-in-time
Stockholder Equity	`StockholdersEquity`	$5.13M	USD	Point-in-time
Appropriation of statutory reserve	`RetainedEarningsAppropriated`	$171.56K	USD	Point-in-time
Appropriation of statutory reserve	`RetainedEarningsAppropriated`	$82.57K	USD	Point-in-time
Net Income (Loss)	`NetIncomeLoss`	$28.11K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-542.69K	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-6.47K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$265.28K	USD	3 Qtrs
Dividend on preferred stock	`DividendsPreferredStock`	$23.83K	USD	1 Quarter
Dividend on preferred stock	`DividendsPreferredStock`	$67.64K	USD	3 Qtrs
Dividend on preferred stock	`DividendsPreferredStock`	$12.26K	USD	1 Quarter
Dividend on preferred stock	`DividendsPreferredStock`	$35.36K	USD	3 Qtrs
Appropriation of statutory reserve	`RetainedEarningsAppropriated`	$171.56K	USD	Point-in-time
Appropriation of statutory reserve	`RetainedEarningsAppropriated`	$82.57K	USD	Point-in-time
Stockholder Equity	`StockholdersEquity`	$5.15M	USD	Point-in-time
Stockholder Equity	`StockholdersEquity`	$5.13M	USD	Point-in-time

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