10-Q Filing

SUNWAY GLOBAL INC. CIK: 1096840 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001144204-12-031008`
Period End Date	20120331
Filing Date	20120521
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	suwg-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 87 Income Statement 31 Cash Flow Statement 69 Stockholders Equity 12

Balance Sheet 87 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	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 authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.93M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$547.30K	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$6.88M	USD	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
Trade receivables, net	`AccountsReceivableNetCurrent`	$7.50M	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
Notes receivables	`NotesAndLoansReceivableNetCurrent`	$283.36K	USD	Point-in-time
Notes receivables	`NotesAndLoansReceivableNetCurrent`	$79.21K	USD	Point-in-time
Inventories	`InventoryNet`	$2.76M	USD	Point-in-time
Inventories	`InventoryNet`	$3.43M	USD	Point-in-time
Advances to suppliers	`RetainageDeposit`	$837.17K	USD	Point-in-time
Advances to suppliers	`RetainageDeposit`	$1.74M	USD	Point-in-time
Prepayments	`PrepaidExpenseCurrent`	$622.75K	USD	Point-in-time
Prepayments	`PrepaidExpenseCurrent`	$852.02K	USD	Point-in-time
Tender deposits	`DepositsAssetsCurrent`	$176.86K	USD	Point-in-time
Tender deposits	`DepositsAssetsCurrent`	$218.19K	USD	Point-in-time
Travel advances to shareholders	`DueFromOfficersOrStockholdersCurrent`	$42.40K	USD	Point-in-time
Travel advances to shareholders	`DueFromOfficersOrStockholdersCurrent`	$10.64K	USD	Point-in-time
Advances to employees	`DueFromEmployeesCurrent`	$455.67K	USD	Point-in-time
Advances to employees	`DueFromEmployeesCurrent`	$476.20K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$600.84K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$637.61K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.42M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.29M	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`	$80.04K	USD	Point-in-time
Amount due from a related company	`DueFromRelatedPartiesNoncurrent`	$126.77K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$6.86M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$6.39M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$14.25M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$14.64M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$39.45M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$39.44M	USD	Point-in-time
Short term bank loans	`ShortTermBankLoansAndNotesPayable`	-	USD	Point-in-time
Short term bank loans	`ShortTermBankLoansAndNotesPayable`	-	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$622.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.10M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$3.77K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$4.31K	USD	Point-in-time
Turnover and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$29.69K	USD	Point-in-time
Turnover and other taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$77.51K	USD	Point-in-time
Expected warranty liabilities	`ProductWarrantyAccrualClassifiedCurrent`	$21.13K	USD	Point-in-time
Expected warranty liabilities	`ProductWarrantyAccrualClassifiedCurrent`	$21.00K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$2.07M	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`	$820.75K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.05M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.10M	USD	Point-in-time
Warrants liabilities	`DerivativeLiabilitiesNoncurrent`	$197.82K	USD	Point-in-time
Warrants liabilities	`DerivativeLiabilitiesNoncurrent`	$1.17M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.25M	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 MARCH 31, 2012 AND DECEMBER 31, 2011	`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 MARCH 31, 2012 AND DECEMBER 31, 2011	`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 MARCH 31, 2012 AND DECEMBER 31, 2011	`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 MARCH 31, 2012 AND DECEMBER 31, 2011	`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`	$10.12M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$6.75M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$6.96M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Total	`StockholdersEquity`	$35.18M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Total	`StockholdersEquity`	$31.55M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Total	`StockholdersEquity`	$35.19M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$39.45M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$39.44M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`Revenues`	$2.01M	USD	1 Quarter
Net revenues	`Revenues`	$1.56M	USD	1 Quarter
Cost of net revenues	`CostOfRevenue`	$729.87K	USD	1 Quarter
Cost of net revenues	`CostOfRevenue`	$949.67K	USD	1 Quarter
Gross profit	`GrossProfit`	$831.15K	USD	1 Quarter
Gross profit	`GrossProfit`	$1.06M	USD	1 Quarter
Selling expenses	`SellingAndMarketingExpense`	$542.55K	USD	1 Quarter
Selling expenses	`SellingAndMarketingExpense`	$231.64K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.73M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$981.84K	USD	1 Quarter
(Loss)/Income from operations	`OperatingIncomeLoss`	$-382.33K	USD	1 Quarter
(Loss)/Income from operations	`OperatingIncomeLoss`	$-1.21M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$8.53K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.52K	USD	1 Quarter
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	$-2.33M	USD	1 Quarter
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	$967.87K	USD	1 Quarter
(Loss)/Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-245.17K	USD	1 Quarter
(Loss)/Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.70M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$-36.67K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$-57.35K	USD	1 Quarter
Net (loss)/income	`NetIncomeLoss`	$1.79M	USD	Annual
Net (loss)/income	`NetIncomeLoss`	$-208.50K	USD	1 Quarter
Net (loss)/income	`NetIncomeLoss`	$-2.65M	USD	1 Quarter
-Basic	`EarningsPerShareBasic`	$-0.14	USD	1 Quarter
-Basic	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
-Diluted	`EarningsPerShareDiluted`	$-0.11	USD	1 Quarter
-Diluted	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.50M	shares	1 Quarter
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.50M	shares	1 Quarter
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.34M	shares	1 Quarter
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.31M	shares	1 Quarter

Cash Flow Statement 69 line items

Line Item	Tag	Value	Unit	Period
Amount transferred from Deposit for technology-based design to property, plant and equipment.	`TransferOfInvestments`	-	USD	1 Quarter
Amount transferred from Deposit for technology-based design to property, plant and equipment.	`TransferOfInvestments`	$1.34M	USD	1 Quarter
Net (loss)/income	`NetIncomeLoss`	$1.79M	USD	Annual
Net (loss)/income	`NetIncomeLoss`	$-208.50K	USD	1 Quarter
Net (loss)/income	`NetIncomeLoss`	$-2.65M	USD	1 Quarter
Depreciation	`Depreciation`	$526.11K	USD	1 Quarter
Depreciation	`Depreciation`	$461.94K	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$561.75K	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$493.27K	USD	1 Quarter
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	$-2.33M	USD	1 Quarter
Changes in fair value of warrants	`GainLossOnDerivativeInstrumentsNetPretax`	$967.87K	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$574.03K	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-809.15K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$728.40K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-206.43K	USD	1 Quarter
Note receivables	`IncreaseDecreaseInOtherReceivables`	$650.64K	USD	1 Quarter
Advances to suppliers	`IncreaseDecreaseInOtherOperatingAssets`	$-191.51K	USD	1 Quarter
Advances to suppliers	`IncreaseDecreaseInOtherOperatingAssets`	$895.32K	USD	1 Quarter
Prepayments	`IncreaseDecreaseInPrepaidExpense`	$402.74K	USD	1 Quarter
Prepayments	`IncreaseDecreaseInPrepaidExpense`	$-235.22K	USD	1 Quarter
Tender deposits	`IncreaseDecreaseInDepositsOutstanding`	$40.30K	USD	1 Quarter
Tender deposits	`IncreaseDecreaseInDepositsOutstanding`	$-69.50K	USD	1 Quarter
Travel advances to shareholders	`IncreaseDecreaseInDueFromOfficersAndStockholdersCurrent`	$31.77K	USD	1 Quarter
Travel advances to shareholders	`IncreaseDecreaseInDueFromOfficersAndStockholdersCurrent`	$-616.08K	USD	1 Quarter
Advances to employees	`IncreaseDecreaseInDueFromEmployeeCurrent`	$-43.24K	USD	1 Quarter
Advances to employees	`IncreaseDecreaseInDueFromEmployeeCurrent`	$17.68K	USD	1 Quarter
Deferred tax assets	`IncreaseDecreaseInDeferredIncomeTaxes`	$24.75K	USD	1 Quarter
Deferred tax assets	`IncreaseDecreaseInDeferredIncomeTaxes`	$57.35K	USD	1 Quarter
Receivables from relationship	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$36.78K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$477.35K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-225.80K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-564.00	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$378.29K	USD	1 Quarter
Turnover and other taxes	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$-48.43K	USD	1 Quarter
Turnover and other taxes	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$328.77K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-327.68K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$313.63K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-350.10K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$189.99K	USD	1 Quarter
Net cash provided/(used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.05M	USD	1 Quarter
Net cash provided/(used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.05M	USD	1 Quarter
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-50.03K	USD	1 Quarter
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.42K	USD	1 Quarter
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$24.25K	USD	1 Quarter
Purchase of intangibles	`PaymentsToAcquireIntangibleAssets`	$1.46M	USD	1 Quarter
Deposit for technology-based designed	`PaymentsForOtherInvestingActivities`	-	USD	1 Quarter
Deposit for technology-based designed	`PaymentsForOtherInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.43M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-19.42K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net in cash and cash equivalents (used)/sourced	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.07M	USD	1 Quarter
Net in cash and cash equivalents (used)/sourced	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-382.41K	USD	1 Quarter
Effect of foreign currency translation on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-275.43K	USD	1 Quarter
Effect of foreign currency translation on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$70.44K	USD	1 Quarter
Cash and cash equivalents-beginning period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash and cash equivalents-beginning period	`CashAndCashEquivalentsAtCarryingValue`	$9.59M	USD	Point-in-time
Cash and cash equivalents-beginning period	`CashAndCashEquivalentsAtCarryingValue`	$8.93M	USD	Point-in-time
Cash and cash equivalents-beginning period	`CashAndCashEquivalentsAtCarryingValue`	$547.30K	USD	Point-in-time
Cash and cash equivalents-end period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash and cash equivalents-end period	`CashAndCashEquivalentsAtCarryingValue`	$9.59M	USD	Point-in-time
Cash and cash equivalents-end period	`CashAndCashEquivalentsAtCarryingValue`	$8.93M	USD	Point-in-time
Cash and cash equivalents-end period	`CashAndCashEquivalentsAtCarryingValue`	$547.30K	USD	Point-in-time
Tax paid	`IncomeTaxesPaid`	$378.29K	USD	1 Quarter
Tax paid	`IncomeTaxesPaid`	$101.00	USD	1 Quarter
Interest received	`ProceedsFromIncomeTaxRefunds`	$1.52K	USD	1 Quarter
Interest received	`ProceedsFromIncomeTaxRefunds`	$8.53K	USD	1 Quarter
Interest paid	`InterestPaid`	-	USD	1 Quarter
Interest paid	`InterestPaid`	-	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$35.18M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$31.55M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$35.19M	USD	Point-in-time
Net income/(loss)	`NetIncomeLoss`	$1.79M	USD	Annual
Net income/(loss)	`NetIncomeLoss`	$-208.50K	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$-2.65M	USD	1 Quarter
Appropriations to statutory Reserves	`StockholdersEquityOther`	-	USD	Annual
Foreign currency translation Adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$215.75K	USD	1 Quarter
Foreign currency translation Adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$1.84M	USD	Annual
Ending Balance	`StockholdersEquity`	$35.18M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$31.55M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$35.19M	USD	Point-in-time

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