10-K Filing

GREEN DRAGON WOOD PRODUCTS, INC. CIK: 1417172 FY 2014

Filing Information

Form Type	10-K
Accession Number	`0001144204-16-141391`
Period End Date	20150331
Filing Date	20161227
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	gdwp-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 39 Cash Flow Statement 66 Stockholders Equity 14

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$342.33K	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$101.51K	USD	Point-in-time
Cash and cash equivalent	`CashAndCashEquivalentsAtCarryingValue`	$34.60K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsCurrent`	$403.92K	USD	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsCurrent`	$395.89K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$5.61M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$6.20M	USD	Point-in-time
Income tax recoverable	`IncomeTaxesReceivable`	$26.79K	USD	Point-in-time
Income tax recoverable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Amount due from a director	`DueFromRelatedPartiesCurrent`	-	USD	Point-in-time
Amount due from a director	`DueFromRelatedPartiesCurrent`	$172.43K	USD	Point-in-time
Common Stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepayments, deposits and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$1.17M	USD	Point-in-time
Prepayments, deposits and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$1.83M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	450.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	450.00M	shares	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$7.83M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$8.12M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.20M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	23.73M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	23.73M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.20M	shares	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$34.10K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$24.62K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$8.14M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$7.87M	USD	Point-in-time
Revolving lines of credit	`LinesOfCreditCurrent`	$4.44M	USD	Point-in-time
Revolving lines of credit	`LinesOfCreditCurrent`	$4.65M	USD	Point-in-time
Accounts payable, trade	`AccountsPayableTradeCurrent`	$655.78K	USD	Point-in-time
Accounts payable, trade	`AccountsPayableTradeCurrent`	$518.78K	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndAccruedLiabilitiesCurrent`	$710.33K	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndAccruedLiabilitiesCurrent`	$564.77K	USD	Point-in-time
Amount due to a director	`DueToOfficersOrStockholdersCurrent`	-	USD	Point-in-time
Amount due to a director	`DueToOfficersOrStockholdersCurrent`	$16.32K	USD	Point-in-time
Obligation under finance lease	`CapitalLeaseObligationsCurrent`	$12.22K	USD	Point-in-time
Obligation under finance lease	`CapitalLeaseObligationsCurrent`	$12.70K	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$5.69M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$5.89M	USD	Point-in-time
Obligation under finance lease	`CapitalLeaseObligationsNoncurrent`	$31.55K	USD	Point-in-time
Obligation under finance lease	`CapitalLeaseObligationsNoncurrent`	$18.83K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.72M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.91M	USD	Point-in-time
Preferred stock , $0.001 par value; 50,000,000 preferred shares authorized; Series A Convertible Preferred stock, 2,000,000 shares issued and outstanding, respectively.	`PreferredStockValueOutstanding`	$2.00K	USD	Point-in-time
Preferred stock , $0.001 par value; 50,000,000 preferred shares authorized; Series A Convertible Preferred stock, 2,000,000 shares issued and outstanding, respectively.	`PreferredStockValueOutstanding`	$2.00K	USD	Point-in-time
Common stock, $0.001 par value; 450,000,000 shares authorized; 23,725,000 shares and 20,200,000 shares issued and outstanding, respectively	`CommonStockValueOutstanding`	$23.73K	USD	Point-in-time
Common stock, $0.001 par value; 450,000,000 shares authorized; 23,725,000 shares and 20,200,000 shares issued and outstanding, respectively	`CommonStockValueOutstanding`	$23.73K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.24M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.24M	USD	Point-in-time
Subscription receivable	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	$100.00K	USD	Point-in-time
Subscription receivable	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	$100.00K	USD	Point-in-time
Deferred stock-based compensation	`DeferredCompensationEquity`	$139.72K	USD	Point-in-time
Deferred stock-based compensation	`DeferredCompensationEquity`	$306.39K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.23M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.29M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.46K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.76K	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$2.24M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$2.14M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$2.44M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$7.87M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$8.14M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Revenues, net	`Revenues`	$10.45M	USD	Annual
Revenues, net	`Revenues`	$9.30M	USD	Annual
Cost of revenue	`CostOfGoodsAndServicesSold`	$9.54M	USD	Annual
Cost of revenue	`CostOfGoodsAndServicesSold`	$8.59M	USD	Annual
Gross profit	`GrossProfit`	$709.56K	USD	Annual
Gross profit	`GrossProfit`	$910.24K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$923.80K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$977.81K	USD	Annual
Total operating expenses	`OperatingExpenses`	$977.81K	USD	Annual
Total operating expenses	`OperatingExpenses`	$923.80K	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-214.24K	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-67.57K	USD	Annual
Foreign exchange gain, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$13.10K	USD	Annual
Foreign exchange gain, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$46.95K	USD	Annual
Loss on surrender of life insurance	`GainLossOnSaleOfOtherAssets`	$-99.58K	USD	Annual
Loss on surrender of life insurance	`GainLossOnSaleOfOtherAssets`	-	USD	Annual
Interest income	`InvestmentIncomeInterest`	$18.25K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.56K	USD	Annual
Interest expense	`InterestExpense`	$222.25K	USD	Annual
Interest expense	`InterestExpense`	$234.82K	USD	Annual
Gain on sale of marketable securities	`GainLossOnSaleOfSecuritiesNet`	-	USD	Annual
Gain on sale of marketable securities	`GainLossOnSaleOfSecuritiesNet`	$84.70K	USD	Annual
Other income	`OtherNonoperatingIncome`	$191.19K	USD	Annual
Other income	`OtherNonoperatingIncome`	$9.76K	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-410.25K	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-62.69K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$9.10K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-419.35K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-62.69K	USD	Annual
Reclassification adjustment for disposal of available-for-sales securities	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	$52.36K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-9.70K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-5.80K	USD	Annual
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-72.39K	USD	Annual
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-477.51K	USD	Annual
Net loss per share - Basic and diluted (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	Annual
Net loss per share - Basic and diluted (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	-	USD	Annual
Weighted average common shares outstanding during the year - Basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	23.32M	shares	Annual
Weighted average common shares outstanding during the year - Basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	23.73M	shares	Annual

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-419.35K	USD	Annual
Net loss	`NetIncomeLoss`	$-62.69K	USD	Annual
Depreciation	`Depreciation`	$17.03K	USD	Annual
Depreciation	`Depreciation`	$17.22K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$166.67K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$184.29K	USD	Annual
Net gain arising on changes in fair value of life insurance	`LifeSettlementContractsFairValueMethodGainLoss`	$49.08K	USD	Annual
Net gain arising on changes in fair value of life insurance	`LifeSettlementContractsFairValueMethodGainLoss`	-	USD	Annual
Gain on sale of marketable securities	`GainLossOnSaleOfSecuritiesNet`	-	USD	Annual
Gain on sale of marketable securities	`GainLossOnSaleOfSecuritiesNet`	$84.70K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-594.94K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$110.31K	USD	Annual
Prepayments, deposits and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$321.95K	USD	Annual
Prepayments, deposits and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$662.87K	USD	Annual
Income tax recoverable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-26.79K	USD	Annual
Income tax recoverable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-97.18K	USD	Annual
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$-137.01K	USD	Annual
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$-758.68K	USD	Annual
Prepaid life insurance	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	Annual
Prepaid life insurance	`IncreaseDecreaseInOtherOperatingAssets`	$-99.58K	USD	Annual
Accrued liabilities and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$145.56K	USD	Annual
Accrued liabilities and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-43.85K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-94.20K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.48M	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$88.61K	USD	Annual
Proceeds from surrender of life insurance	`ProceedsFromLifeInsurancePolicies`	$667.63K	USD	Annual
Proceeds from surrender of life insurance	`ProceedsFromLifeInsurancePolicies`	-	USD	Annual
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$64.00	USD	Annual
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.75K	USD	Annual
Proceeds from sale of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	Annual
Proceeds from sale of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$393.36K	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.06M	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.75K	USD	Annual
Proceeds from revolving lines of credit	`ProceedsFromLinesOfCredit`	$204.75K	USD	Annual
Proceeds from revolving lines of credit	`ProceedsFromLinesOfCredit`	$559.40K	USD	Annual
Change in restricted cash	`ProceedsFromRepaymentsOfRestrictedCashFinancingActivities`	$-8.03K	USD	Annual
Change in restricted cash	`ProceedsFromRepaymentsOfRestrictedCashFinancingActivities`	$514.05K	USD	Annual
Repayment of long-term insurance policy loan	`RepaymentsOfOtherLongTermDebt`	$379.06K	USD	Annual
Repayment of long-term insurance policy loan	`RepaymentsOfOtherLongTermDebt`	-	USD	Annual
Repayment of finance lease	`RepaymentsOfLongTermCapitalLeaseObligations`	$12.23K	USD	Annual
Repayment of finance lease	`RepaymentsOfLongTermCapitalLeaseObligations`	$11.65K	USD	Annual
Repayment of short-term bank loan	`ProceedsFromRepaymentsOfShortTermDebt`	-	USD	Annual
Repayment of short-term bank loan	`ProceedsFromRepaymentsOfShortTermDebt`	$-257.62K	USD	Annual
Repayment of long-term bank loans	`RepaymentsOfLongTermDebt`	-	USD	Annual
Repayment of long-term bank loans	`RepaymentsOfLongTermDebt`	$309.14K	USD	Annual
Advance to a director	`PaymentsForAdvanceToAffiliate`	$188.75K	USD	Annual
Advance to a director	`PaymentsForAdvanceToAffiliate`	$12.94K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$103.04K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.26K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-9.69K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$12.33K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-307.73K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$66.91K	USD	Annual
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$342.33K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$101.51K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$34.60K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$342.33K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$101.51K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$34.60K	USD	Point-in-time
Interest paid	`InterestPaid`	$234.82K	USD	Annual
Interest paid	`InterestPaid`	$222.25K	USD	Annual
Income tax paid	`IncomeTaxesPaid`	$6.08K	USD	Annual
Income tax paid	`IncomeTaxesPaid`	-	USD	Annual
Issuance of common stock for subscription receivable	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$17.62K	USD	Annual
Issuance of common stock for subscription receivable	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	-	USD	Annual

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$2.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.14M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.44M	USD	Point-in-time
Amortization of deferred stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$166.67K	USD	Annual
Amortization of deferred stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$166.67K	USD	Annual
Equity Settled - Share based Payment	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$17.62K	USD	Annual
Disposal on available-for-sales securities	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	$52.36K	USD	Annual
Net loss	`NetIncomeLoss`	$-419.35K	USD	Annual
Net loss	`NetIncomeLoss`	$-62.69K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-9.70K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-5.80K	USD	Annual
Balance	`StockholdersEquity`	$2.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.14M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.44M	USD	Point-in-time

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