10-Q Filing

GREEN DRAGON WOOD PRODUCTS, INC. CIK: 1417172 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001144204-17-003635`
Period End Date	20150930
Filing Date	20170124
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	gdwp-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 76 Cash Flow Statement 50 Stockholders Equity 13

Balance Sheet 61 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$34.60K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.28K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.62K	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$101.51K	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsCurrent`	$403.92K	USD	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsCurrent`	$403.27K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$5.61M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$5.10M	USD	Point-in-time
Amount due from a director	`DueFromRelatedPartiesCurrent`	$10.32K	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
Prepayments and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$1.68M	USD	Point-in-time
Prepayments and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$1.83M	USD	Point-in-time
Common Stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.21M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.12M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	23.73M	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`	23.73M	shares	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$16.91K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$24.62K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$7.22M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$8.14M	USD	Point-in-time
Revolving lines of credit	`LinesOfCreditCurrent`	$3.59M	USD	Point-in-time
Revolving lines of credit	`LinesOfCreditCurrent`	$4.65M	USD	Point-in-time
Account payable, trade	`AccountsPayableTradeCurrent`	$846.59K	USD	Point-in-time
Account payable, trade	`AccountsPayableTradeCurrent`	$518.78K	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndAccruedLiabilitiesCurrent`	$827.87K	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndAccruedLiabilitiesCurrent`	$710.33K	USD	Point-in-time
Obligation under finance lease	`CapitalLeaseObligationsCurrent`	$12.70K	USD	Point-in-time
Obligation under finance lease	`CapitalLeaseObligationsCurrent`	$12.83K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.28M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.89M	USD	Point-in-time
Obligation under finance lease	`CapitalLeaseObligationsNoncurrent`	$18.83K	USD	Point-in-time
Obligation under finance lease	`CapitalLeaseObligationsNoncurrent`	$12.43K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.91M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.29M	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	`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	`PreferredStockValueOutstanding`	$2.00K	USD	Point-in-time
Common stock, $0.001 par value; 23,725,000 shares issued and outstanding, respectively	`CommonStockValueOutstanding`	$23.73K	USD	Point-in-time
Common stock, $0.001 par value; 23,725,000 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`	$56.16K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.23M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$842.10K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-14.95K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.46K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$2.24M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.93M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$8.14M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$7.22M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
REVENUE, NET	`Revenues`	$5.29M	USD	2 Qtrs
REVENUE, NET	`Revenues`	$884.43K	USD	1 Quarter
REVENUE, NET	`Revenues`	$2.85M	USD	2 Qtrs
REVENUE, NET	`Revenues`	$2.19M	USD	1 Quarter
COST OF REVENUES	`CostOfGoodsAndServicesSold`	$1.01M	USD	1 Quarter
COST OF REVENUES	`CostOfGoodsAndServicesSold`	$2.04M	USD	1 Quarter
COST OF REVENUES	`CostOfGoodsAndServicesSold`	$2.69M	USD	2 Qtrs
COST OF REVENUES	`CostOfGoodsAndServicesSold`	$4.89M	USD	2 Qtrs
GROSS (LOSS) PROFIT	`GrossProfit`	$149.24K	USD	1 Quarter
GROSS (LOSS) PROFIT	`GrossProfit`	$-122.82K	USD	1 Quarter
GROSS (LOSS) PROFIT	`GrossProfit`	$163.15K	USD	2 Qtrs
GROSS (LOSS) PROFIT	`GrossProfit`	$400.86K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$472.27K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$216.65K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$430.41K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$232.10K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-71.40K	USD	2 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-339.48K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-267.25K	USD	2 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-82.86K	USD	1 Quarter
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.05K	USD	2 Qtrs
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$10.30K	USD	1 Quarter
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-47.73K	USD	2 Qtrs
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-7.78K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.03K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$176.00	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.36K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$70.00	USD	1 Quarter
Interest expense	`InterestExpense`	$110.86K	USD	2 Qtrs
Interest expense	`InterestExpense`	$53.88K	USD	1 Quarter
Interest expense	`InterestExpense`	$113.77K	USD	2 Qtrs
Interest expense	`InterestExpense`	$54.81K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$66.97K	USD	2 Qtrs
Other income	`OtherNonoperatingIncome`	$10.59K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$25.74K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$36.55K	USD	2 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$-121.86K	USD	2 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$-46.49K	USD	2 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$-17.74K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-50.99K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-389.12K	USD	2 Qtrs
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-390.47K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-117.90K	USD	2 Qtrs
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-100.60K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-389.12K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-117.90K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-390.47K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-100.60K	USD	1 Quarter
- Foreign currency translation adjustment gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-6.49K	USD	2 Qtrs
- Foreign currency translation adjustment gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$563.00	USD	1 Quarter
- Foreign currency translation adjustment gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$1.51K	USD	2 Qtrs
- Foreign currency translation adjustment gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-6.62K	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-107.22K	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-387.61K	USD	2 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-124.39K	USD	2 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-389.91K	USD	1 Quarter
- Basic	`EarningsPerShareBasic`	$-0.00	USD	1 Quarter
- Basic	`EarningsPerShareBasic`	$-0.01	USD	2 Qtrs
- Basic	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
- Basic	`EarningsPerShareBasic`	$-0.02	USD	2 Qtrs
- Diluted	`EarningsPerShareDiluted`	$-0.02	USD	2 Qtrs
- Diluted	`EarningsPerShareDiluted`	$-0.00	USD	1 Quarter
- Diluted	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
- Diluted	`EarningsPerShareDiluted`	$-0.01	USD	2 Qtrs
- Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	23.73M	shares	1 Quarter
- Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	23.73M	shares	2 Qtrs
- Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	23.73M	shares	2 Qtrs
- Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	23.73M	shares	1 Quarter
- Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.73M	shares	1 Quarter
- Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.73M	shares	2 Qtrs
- Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.73M	shares	2 Qtrs
- Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.73M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-389.12K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-117.90K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-390.47K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-100.60K	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$4.19K	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$4.50K	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$9.10K	USD	2 Qtrs
Depreciation and amortization	`Depreciation`	$8.16K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$83.56K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$83.56K	USD	2 Qtrs
Accounts and retention receivable	`IncreaseDecreaseInAccountsReceivable`	$-749.09K	USD	2 Qtrs
Accounts and retention receivable	`IncreaseDecreaseInAccountsReceivable`	$-502.54K	USD	2 Qtrs
Prepayments, deposits and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-151.78K	USD	2 Qtrs
Prepayments, deposits and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$329.64K	USD	2 Qtrs
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$327.81K	USD	2 Qtrs
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$-105.46K	USD	2 Qtrs
Bills receivable	`IncreaseDecreaseInFinanceReceivables`	-	USD	2 Qtrs
Bills receivable	`IncreaseDecreaseInFinanceReceivables`	$196.17K	USD	2 Qtrs
Accrued liabilities and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$285.48K	USD	2 Qtrs
Accrued liabilities and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$117.54K	USD	2 Qtrs
Net cash generated from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$377.12K	USD	2 Qtrs
Net cash generated from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$803.21K	USD	2 Qtrs
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.37K	USD	2 Qtrs
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.69K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.37K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-7.69K	USD	2 Qtrs
Repayment of revolving lines of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-1.06M	USD	2 Qtrs
Repayment of revolving lines of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-372.68K	USD	2 Qtrs
Change in restricted cash	`ProceedsFromRepaymentsOfRestrictedCashFinancingActivities`	$457.00	USD	2 Qtrs
Change in restricted cash	`ProceedsFromRepaymentsOfRestrictedCashFinancingActivities`	$657.00	USD	2 Qtrs
Repayment of finance lease	`RepaymentsOfLongTermCapitalLeaseObligations`	$6.27K	USD	2 Qtrs
Repayment of finance lease	`RepaymentsOfLongTermCapitalLeaseObligations`	$6.11K	USD	2 Qtrs
Advance from a director	`ProceedsFromRepaymentsOfAdvancesFromAffiliates`	$162.11K	USD	2 Qtrs
Advance from a director	`ProceedsFromRepaymentsOfAdvancesFromAffiliates`	$3.42K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-899.56K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-374.92K	USD	2 Qtrs
Effect on exchange rate change on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-6.49K	USD	2 Qtrs
Effect on exchange rate change on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$1.50K	USD	2 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-96.23K	USD	2 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.98K	USD	2 Qtrs
BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$34.60K	USD	Point-in-time
BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$5.28K	USD	Point-in-time
BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$22.62K	USD	Point-in-time
BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$101.51K	USD	Point-in-time
END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$34.60K	USD	Point-in-time
END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$5.28K	USD	Point-in-time
END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$22.62K	USD	Point-in-time
END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$101.51K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$113.77K	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$110.86K	USD	2 Qtrs

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$2.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.93M	USD	Point-in-time
Amortization of deferred stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$83.56K	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-389.12K	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-117.90K	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-390.47K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-100.60K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-6.49K	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$563.00	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$1.51K	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-6.62K	USD	1 Quarter
Balance	`StockholdersEquity`	$2.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.93M	USD	Point-in-time

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