10-Q Filing

GREEN DRAGON WOOD PRODUCTS, INC. CIK: 1417172 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001144204-17-004385`
Period End Date	20160930
Filing Date	20170127
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	gdwp-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 76 Cash Flow Statement 50 Stockholders Equity 12

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$101.51K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.28K	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$29.99K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$41.44K	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	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`	-	USD	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsCurrent`	$266.05K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.42M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.83M	USD	Point-in-time
Amount due from a director	`DueFromRelatedPartiesCurrent`	$69.97K	USD	Point-in-time
Amount due from a director	`DueFromRelatedPartiesCurrent`	-	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 and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$2.15M	USD	Point-in-time
Prepayments and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$2.00M	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
Total current assets	`AssetsCurrent`	$4.80M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.01M	USD	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`	$7.91K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$4.25K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$4.80M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$5.01M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$2.64M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$2.07M	USD	Point-in-time
Account payable, trade	`AccountsPayableTradeCurrent`	$1.14M	USD	Point-in-time
Account payable, trade	`AccountsPayableTradeCurrent`	$1.63M	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndAccruedLiabilitiesCurrent`	$746.67K	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.22M	USD	Point-in-time
Obligation under finance lease	`CapitalLeaseObligationsCurrent`	$12.30K	USD	Point-in-time
Obligation under finance lease	`CapitalLeaseObligationsCurrent`	$13.19K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.93M	USD	Point-in-time
Obligation under finance lease	`CapitalLeaseObligationsNoncurrent`	$5.64K	USD	Point-in-time
Obligation under finance lease	`CapitalLeaseObligationsNoncurrent`	-	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.93M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.55M	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; 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
Accumulated losses	`RetainedEarningsAccumulatedDeficit`	$-1.06M	USD	Point-in-time
Accumulated losses	`RetainedEarningsAccumulatedDeficit`	$-888.53K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.84K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.92K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$82.03K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$256.76K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$4.80M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$5.01M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
REVENUE, NET	`Revenues`	$884.43K	USD	1 Quarter
REVENUE, NET	`Revenues`	$952.70K	USD	2 Qtrs
REVENUE, NET	`Revenues`	$2.85M	USD	2 Qtrs
REVENUE, NET	`Revenues`	$458.40K	USD	1 Quarter
COST OF REVENUES	`CostOfGoodsAndServicesSold`	$1.01M	USD	1 Quarter
COST OF REVENUES	`CostOfGoodsAndServicesSold`	$819.04K	USD	2 Qtrs
COST OF REVENUES	`CostOfGoodsAndServicesSold`	$2.69M	USD	2 Qtrs
COST OF REVENUES	`CostOfGoodsAndServicesSold`	$393.30K	USD	1 Quarter
GROSS PROFIT (LOSS)	`GrossProfit`	$65.10K	USD	1 Quarter
GROSS PROFIT (LOSS)	`GrossProfit`	$133.66K	USD	2 Qtrs
GROSS PROFIT (LOSS)	`GrossProfit`	$163.15K	USD	2 Qtrs
GROSS PROFIT (LOSS)	`GrossProfit`	$-122.82K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$242.13K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$430.41K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$117.83K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$216.65K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-52.74K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-339.48K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-108.47K	USD	2 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-267.25K	USD	2 Qtrs
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-47.73K	USD	2 Qtrs
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-7.78K	USD	1 Quarter
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$20.34K	USD	1 Quarter
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$32.12K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$176.00	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$105.00	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$70.00	USD	1 Quarter
Interest expense	`InterestExpense`	$28.12K	USD	1 Quarter
Interest expense	`InterestExpense`	$75.89K	USD	2 Qtrs
Interest expense	`InterestExpense`	$110.86K	USD	2 Qtrs
Interest expense	`InterestExpense`	$53.88K	USD	1 Quarter
Other (expense) income	`OtherNonoperatingIncomeExpense`	$-22.52K	USD	2 Qtrs
Other (expense) income	`OtherNonoperatingIncomeExpense`	$10.59K	USD	1 Quarter
Other (expense) income	`OtherNonoperatingIncomeExpense`	$-53.35K	USD	1 Quarter
Other (expense) income	`OtherNonoperatingIncomeExpense`	$36.55K	USD	2 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$-121.86K	USD	2 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$-66.18K	USD	2 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$-61.13K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-50.99K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-174.65K	USD	2 Qtrs
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-389.12K	USD	2 Qtrs
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-113.86K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-390.47K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-390.47K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-174.65K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-113.86K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-389.12K	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`	$83.00	USD	2 Qtrs
- Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$179.00	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-387.61K	USD	2 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-389.91K	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-113.68K	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-174.73K	USD	2 Qtrs
- Basic	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
- Basic	`EarningsPerShareBasic`	$-0.02	USD	2 Qtrs
- Basic	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
- Basic	`EarningsPerShareBasic`	$-0.01	USD	2 Qtrs
- Diluted	`EarningsPerShareDiluted`	$-0.02	USD	2 Qtrs
- Diluted	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
- Diluted	`EarningsPerShareDiluted`	$-0.01	USD	2 Qtrs
- Diluted	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
- Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	23.73M	shares	2 Qtrs
- Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	23.73M	shares	1 Quarter
- Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	23.73M	shares	1 Quarter
- Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	23.73M	shares	2 Qtrs
- Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.73M	shares	2 Qtrs
- Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.73M	shares	2 Qtrs
- Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.73M	shares	1 Quarter
- Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.73M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-390.47K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-174.65K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-113.86K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-389.12K	USD	2 Qtrs
Depreciation and amortization	`Depreciation`	$3.66K	USD	2 Qtrs
Depreciation and amortization	`Depreciation`	$9.10K	USD	2 Qtrs
Depreciation and amortization	`Depreciation`	$749.00	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$4.50K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$83.56K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$402.99K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-502.54K	USD	2 Qtrs
Prepayments, deposits and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-151.78K	USD	2 Qtrs
Prepayments, deposits and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$156.53K	USD	2 Qtrs
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$484.38K	USD	2 Qtrs
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$327.81K	USD	2 Qtrs
Accrued liabilities and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$117.54K	USD	2 Qtrs
Accrued liabilities and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$476.18K	USD	2 Qtrs
Net cash generated from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$230.04K	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`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.37K	USD	2 Qtrs
Repayment of revolving lines of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-1.06M	USD	2 Qtrs
Repayment of revolving lines of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-569.62K	USD	2 Qtrs
Change in restricted cash	`ProceedsFromRepaymentsOfRestrictedCashFinancingActivities`	$264.77K	USD	2 Qtrs
Change in restricted cash	`ProceedsFromRepaymentsOfRestrictedCashFinancingActivities`	$657.00	USD	2 Qtrs
Repayment of finance lease	`RepaymentsOfLongTermCapitalLeaseObligations`	$6.54K	USD	2 Qtrs
Repayment of finance lease	`RepaymentsOfLongTermCapitalLeaseObligations`	$6.27K	USD	2 Qtrs
Repayment from a director	`ProceedsFromRepaymentsOfAdvancesFromAffiliates`	$69.97K	USD	2 Qtrs
Repayment from a director	`ProceedsFromRepaymentsOfAdvancesFromAffiliates`	$162.11K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-899.56K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-241.41K	USD	2 Qtrs
Effect on exchange rate change on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$1.50K	USD	2 Qtrs
Effect on exchange rate change on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-81.00	USD	2 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-96.23K	USD	2 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.45K	USD	2 Qtrs
BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$101.51K	USD	Point-in-time
BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$5.28K	USD	Point-in-time
BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$29.99K	USD	Point-in-time
BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$41.44K	USD	Point-in-time
END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$101.51K	USD	Point-in-time
END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$5.28K	USD	Point-in-time
END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$29.99K	USD	Point-in-time
END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$41.44K	USD	Point-in-time
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$110.86K	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$75.89K	USD	2 Qtrs

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$82.03K	USD	Point-in-time
Balance	`StockholdersEquity`	$256.76K	USD	Point-in-time
Net loss for the period	`NetIncomeLoss`	$-390.47K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-174.65K	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-113.86K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-389.12K	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`	$83.00	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$179.00	USD	1 Quarter
Balance	`StockholdersEquity`	$82.03K	USD	Point-in-time
Balance	`StockholdersEquity`	$256.76K	USD	Point-in-time

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