10-K Filing

SUNWAY GLOBAL INC. CIK: 1096840 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001144204-12-022036`
Period End Date	20111231
Filing Date	20120416
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	suwg-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 34 Cash Flow Statement 71 Stockholders Equity 10

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Series B Convertible Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Series B Convertible Preferred Stock, par value	`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
Series B Convertible Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	160,494.00	shares	Point-in-time
Series B Convertible Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	160,494.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.59M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.50M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.72M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.50M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.50M	shares	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$9.29M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.50M	shares	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$6.88M	USD	Point-in-time
Notes receivables	`NotesAndLoansReceivableNetCurrent`	$283.36K	USD	Point-in-time
Inventories	`InventoryNet`	$2.76M	USD	Point-in-time
Inventories	`InventoryNet`	$1.38M	USD	Point-in-time
Advances to suppliers	`RetainageDeposit`	$837.17K	USD	Point-in-time
Advances to suppliers	`RetainageDeposit`	$1.23M	USD	Point-in-time
Prepayments	`PrepaidExpenseCurrent`	$852.02K	USD	Point-in-time
Prepayments	`PrepaidExpenseCurrent`	$95.40K	USD	Point-in-time
Tender deposits	`DepositsAssetsCurrent`	$274.14K	USD	Point-in-time
Tender deposits	`DepositsAssetsCurrent`	$176.86K	USD	Point-in-time
Travel advances to officers	`DueFromOfficersOrStockholdersCurrent`	$10.64K	USD	Point-in-time
Travel advances to officers	`DueFromOfficersOrStockholdersCurrent`	$332.71K	USD	Point-in-time
Advances to employees	`DueFromEmployeesCurrent`	$455.67K	USD	Point-in-time
Advances to employees	`DueFromEmployeesCurrent`	$269.30K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$600.84K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.42M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.46M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$1.09K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$67.09K	USD	Point-in-time
Amounts due from related companies	`DueFromRelatedPartiesNoncurrent`	$126.77K	USD	Point-in-time
Amounts due from related companies	`DueFromRelatedPartiesNoncurrent`	$76.68K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$10.29M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$6.86M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$14.64M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$19.25M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$52.30M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$39.45M	USD	Point-in-time
Short term bank loans	`ShortTermBankLoansAndNotesPayable`	$303.41K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$622.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$341.85K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$4.31K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$381.66K	USD	Point-in-time
Turnover and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$77.51K	USD	Point-in-time
Turnover and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$328.76K	USD	Point-in-time
Expected warranty liabilities	`ProductWarrantyAccrualClassifiedCurrent`	$21.00K	USD	Point-in-time
Expected warranty liabilities	`ProductWarrantyAccrualClassifiedCurrent`	$53.31K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$1.12M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$1.75M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$627.21K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$704.07K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.24M	USD	Point-in-time
Warrants liabilities	`DerivativeLiabilitiesNoncurrent`	$17.52M	USD	Point-in-time
Warrants liabilities	`DerivativeLiabilitiesNoncurrent`	$1.17M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$20.75M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.27M	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, 2011 and 2010	`PreferredStockValue`	$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, 2011 and 2010	`PreferredStockValue`	$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, 2011 and 2010	`CommonStockValue`	$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, 2011 and 2010	`CommonStockValue`	$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`	$4.27M	USD	Point-in-time
Statutory reserves	`RetainedEarningsAppropriated`	$4.27M	USD	Point-in-time
Retained earnings	`RetainedEarningsUnappropriated`	$10.33M	USD	Point-in-time
Retained earnings	`RetainedEarningsUnappropriated`	$8.54M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$6.75M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$4.91M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Total	`StockholdersEquity`	$35.18M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Total	`StockholdersEquity`	$-1.95M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Total	`StockholdersEquity`	$31.55M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$39.45M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$52.30M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`Revenues`	$23.02M	USD	Annual
Net revenues	`Revenues`	$8.68M	USD	Annual
Cost of net revenues	`CostOfRevenue`	$4.70M	USD	Annual
Cost of net revenues	`CostOfRevenue`	$7.70M	USD	Annual
Gross profit	`GrossProfit`	$15.32M	USD	Annual
Gross profit	`GrossProfit`	$3.98M	USD	Annual
Selling expenses	`SellingAndMarketingExpense`	$1.76M	USD	Annual
Selling expenses	`SellingAndMarketingExpense`	$1.46M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.23M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$4.13M	USD	Annual
(Loss) / Income from operations	`OperatingIncomeLoss`	$-4.01M	USD	Annual
(Loss) / Income from operations	`OperatingIncomeLoss`	$9.73M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$23.67K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$32.09K	USD	Annual
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	$23.29M	USD	Annual
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	$16.35M	USD	Annual
Impairment of fixed assets and intangible assets	`ImpairmentOnOtherAssets`	$2.44M	USD	Annual
Loss on disposal of fixed assets and intangible assets	`GainLossOnDispositionOfAssetsAndOtherNet`	$-2.32M	USD	Annual
Compensation for product quality	`OtherNonoperatingExpense`	$6.09M	USD	Annual
Loss in the suspension of work for Daqing factory	`ExtraordinaryItemsGross`	$329.32K	USD	Annual
Income before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$33.04M	USD	Annual
Income before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.20M	USD	Annual
Income tax	`IncomeTaxExpenseBenefit`	$1.53M	USD	Annual
Income tax	`IncomeTaxExpenseBenefit`	$-585.16K	USD	Annual
Net income	`NetIncomeLoss`	$31.51M	USD	Annual
Net income	`NetIncomeLoss`	$1.79M	USD	Annual
-Basic	`EarningsPerShareBasic`	$0.10	USD	Annual
-Basic	`EarningsPerShareBasic`	$1.70	USD	Annual
-Diluted	`EarningsPerShareDiluted`	$0.08	USD	Annual
-Diluted	`EarningsPerShareDiluted`	$1.23	USD	Annual
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.50M	shares	Annual
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.50M	shares	Annual
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.71M	shares	Annual
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.31M	shares	Annual

Cash Flow Statement 71 line items

Line Item	Tag	Value	Unit	Period
Amount transferred from Deposit for technology-based design to property, plant and equipment.	`TransferOfInvestments`	-	USD	Annual
Amount transferred from Deposit for technology-based design to property, plant and equipment.	`TransferOfInvestments`	$4.32M	USD	Annual
Net income	`NetIncomeLoss`	$31.51M	USD	Annual
Net income	`NetIncomeLoss`	$1.79M	USD	Annual
Depreciation	`Depreciation`	$1.94M	USD	Annual
Depreciation	`Depreciation`	$1.84M	USD	Annual
Amortization	`AmortizationOfIntangibleAssets`	$1.99M	USD	Annual
Amortization	`AmortizationOfIntangibleAssets`	$1.53M	USD	Annual
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	$23.29M	USD	Annual
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	$16.35M	USD	Annual
Impairment of fixed and intangible assets	`OtherAssetImpairmentCharges`	$2.44M	USD	Annual
Impairment of fixed and intangible assets	`OtherAssetImpairmentCharges`	$429.26K	USD	Annual
Loss on disposal of fixed and intangible assets	`GainLossOnDispositionOfAssetsAndOtherNet`	$-2.32M	USD	Annual
Provision for doubtful debts	`ProvisionForDoubtfulAccounts`	$294.87K	USD	Annual
Provision for doubtful debts	`ProvisionForDoubtfulAccounts`	$20.93K	USD	Annual
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$5.48M	USD	Annual
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-2.42M	USD	Annual
Note receivables	`IncreaseDecreaseInOtherReceivables`	$283.36K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$1.31M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$748.99K	USD	Annual
Advances to suppliers	`IncreaseDecreaseInOtherOperatingAssets`	$-434.60K	USD	Annual
Advances to suppliers	`IncreaseDecreaseInOtherOperatingAssets`	$250.02K	USD	Annual
Prepayments	`IncreaseDecreaseInPrepaidExpense`	$-35.82K	USD	Annual
Prepayments	`IncreaseDecreaseInPrepaidExpense`	$741.11K	USD	Annual
Tender deposits	`IncreaseDecreaseInDepositsOutstanding`	$143.88K	USD	Annual
Tender deposits	`IncreaseDecreaseInDepositsOutstanding`	$-105.91K	USD	Annual
Travel advances to officers	`IncreaseDecreaseInDueFromOfficersAndStockholdersCurrent`	$-43.62K	USD	Annual
Travel advances to officers	`IncreaseDecreaseInDueFromOfficersAndStockholdersCurrent`	$-329.32K	USD	Annual
Advances to employees	`IncreaseDecreaseInDueFromEmployeeCurrent`	$173.42K	USD	Annual
Advances to employees	`IncreaseDecreaseInDueFromEmployeeCurrent`	$42.25K	USD	Annual
Deferred tax assets	`IncreaseDecreaseInDeferredIncomeTaxes`	$600.84K	USD	Annual
Amounts due from related companies	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$46.48K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$263.04K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$59.10K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$100.01K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-385.55K	USD	Annual
Turnover and other taxes	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$163.94K	USD	Annual
Turnover and other taxes	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$-259.47K	USD	Annual
Expected warranty liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$18.99K	USD	Annual
Expected warranty liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-33.78K	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$575.27K	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$786.59K	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-101.76K	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$22.35K	USD	Annual
Net cash (used in) / provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.60M	USD	Annual
Net cash (used in) / provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.40M	USD	Annual
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-66.00K	USD	Annual
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-216.09K	USD	Annual
Sales proceeds from disposal of fixed and intangible assets	`ProceedsFromSaleOfProductiveAssets`	$876.36K	USD	Annual
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.37M	USD	Annual
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$557.72K	USD	Annual
Increase in deposit for technology-based design	`PaymentsForOtherInvestingActivities`	$3.40M	USD	Annual
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$1.44M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.59M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.02M	USD	Annual
Repayment of short term bank loans	`RepaymentsOfBankDebt`	$303.41K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-303.41K	USD	Annual
Net in cash and cash equivalents (used) / sourced	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.72M	USD	Annual
Net in cash and cash equivalents (used) / sourced	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.02M	USD	Annual
Effect of foreign currency translation on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$680.44K	USD	Annual
Effect of foreign currency translation on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$855.34K	USD	Annual
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.59M	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.72M	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.59M	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.72M	USD	Point-in-time
Tax paid	`IncomeTaxesPaid`	$1.43M	USD	Annual
Tax paid	`IncomeTaxesPaid`	$401.22K	USD	Annual
Interest received	`ProceedsFromIncomeTaxRefunds`	$32.09K	USD	Annual
Interest received	`ProceedsFromIncomeTaxRefunds`	$23.67K	USD	Annual

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$35.18M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-1.95M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$31.55M	USD	Point-in-time
Net (loss) income	`NetIncomeLoss`	$31.51M	USD	Annual
Net (loss) income	`NetIncomeLoss`	$1.79M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$1.84M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$1.99M	USD	Annual
Ending Balance	`StockholdersEquity`	$35.18M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$-1.95M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$31.55M	USD	Point-in-time

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