10-Q Filing

GREEN DRAGON WOOD PRODUCTS, INC. CIK: 1417172 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001144204-17-004437`
Period End Date	20161231
Filing Date	20170130
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	gdwp-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 76 Cash Flow Statement 50 Stockholders Equity 12

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$57.78K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$41.44K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.31K	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`	$266.05K	USD	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsCurrent`	-	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.42M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.87M	USD	Point-in-time
Amount due from a director	`DueFromRelatedPartiesCurrent`	-	USD	Point-in-time
Amount due from a director	`DueFromRelatedPartiesCurrent`	$69.97K	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`	$1.96M	USD	Point-in-time
Prepayments and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$2.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.80M	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`	$3.89M	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`	$3.50K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$7.91K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.89M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$4.80M	USD	Point-in-time
Short-term borrowings	`OtherShortTermBorrowings`	$2.02M	USD	Point-in-time
Short-term borrowings	`OtherShortTermBorrowings`	$2.64M	USD	Point-in-time
Account payable, trade	`AccountsPayableTradeCurrent`	$1.14M	USD	Point-in-time
Account payable, trade	`AccountsPayableTradeCurrent`	$690.13K	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndAccruedLiabilitiesCurrent`	$746.67K	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.10M	USD	Point-in-time
Amount due to a director	`DueToOfficersOrStockholdersCurrent`	$107.30K	USD	Point-in-time
Amount due to a director	`DueToOfficersOrStockholdersCurrent`	-	USD	Point-in-time
Obligation under finance lease	`CapitalLeaseObligationsCurrent`	$8.99K	USD	Point-in-time
Obligation under finance lease	`CapitalLeaseObligationsCurrent`	$13.19K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.92M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.54M	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`	$3.92M	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 and 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 and 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
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$-1.18M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$-888.53K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.84K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.61K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$-31.80K	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`	$3.89M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
REVENUE, NET	`Revenues`	$3.55M	USD	3 Qtrs
REVENUE, NET	`Revenues`	$1.13M	USD	3 Qtrs
REVENUE, NET	`Revenues`	$697.89K	USD	1 Quarter
REVENUE, NET	`Revenues`	$180.20K	USD	1 Quarter
COST OF REVENUES	`CostOfGoodsAndServicesSold`	$756.58K	USD	1 Quarter
COST OF REVENUES	`CostOfGoodsAndServicesSold`	$3.45M	USD	3 Qtrs
COST OF REVENUES	`CostOfGoodsAndServicesSold`	$861.09K	USD	3 Qtrs
COST OF REVENUES	`CostOfGoodsAndServicesSold`	$42.05K	USD	1 Quarter
GROSS PROFIT (LOSS)	`GrossProfit`	$-58.69K	USD	1 Quarter
GROSS PROFIT (LOSS)	`GrossProfit`	$271.82K	USD	3 Qtrs
GROSS PROFIT (LOSS)	`GrossProfit`	$138.16K	USD	1 Quarter
GROSS PROFIT (LOSS)	`GrossProfit`	$104.46K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$512.38K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$270.25K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$217.65K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$648.05K	USD	3 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-543.59K	USD	3 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-132.09K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-240.57K	USD	3 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-276.34K	USD	1 Quarter
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$3.95K	USD	1 Quarter
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-50.16K	USD	3 Qtrs
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-2.43K	USD	1 Quarter
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$36.07K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$106.00	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$279.00	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$103.00	USD	1 Quarter
Interest expense	`InterestExpense`	$28.11K	USD	1 Quarter
Interest expense	`InterestExpense`	$49.90K	USD	1 Quarter
Interest expense	`InterestExpense`	$160.76K	USD	3 Qtrs
Interest expense	`InterestExpense`	$104.00K	USD	3 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$42.12K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$19.60K	USD	3 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$17.81K	USD	3 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-18.74K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-192.83K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$17.95K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-70.97K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-48.22K	USD	3 Qtrs
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-114.14K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-347.31K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-736.42K	USD	3 Qtrs
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-288.79K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-347.31K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-288.79K	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-114.14K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-736.42K	USD	3 Qtrs
- Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$226.00	USD	3 Qtrs
- Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$309.00	USD	1 Quarter
- Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-152.00	USD	1 Quarter
- Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$1.36K	USD	3 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-113.83K	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-288.56K	USD	3 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-347.46K	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-735.06K	USD	3 Qtrs
- Basic	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
- Basic	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
- Basic	`EarningsPerShareBasic`	$-0.00	USD	3 Qtrs
- Basic	`EarningsPerShareBasic`	$-0.00	USD	3 Qtrs
- Diluted	`EarningsPerShareDiluted`	$-0.00	USD	3 Qtrs
- Diluted	`EarningsPerShareDiluted`	$-0.00	USD	3 Qtrs
- Diluted	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
- Diluted	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
- Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	23.73M	shares	3 Qtrs
- Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	23.73M	shares	1 Quarter
- Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	23.73M	shares	3 Qtrs
- Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	23.73M	shares	1 Quarter
- Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.73M	shares	1 Quarter
- Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.73M	shares	3 Qtrs
- Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.73M	shares	3 Qtrs
- Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.73M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-347.31K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-288.79K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-114.14K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-736.42K	USD	3 Qtrs
Depreciation and amortization	`Depreciation`	$13.60K	USD	3 Qtrs
Depreciation and amortization	`Depreciation`	$4.50K	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$752.00	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$4.41K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$125.57K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	-	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-556.70K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-913.04K	USD	3 Qtrs
Prepayments, deposits and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$367.03K	USD	3 Qtrs
Prepayments, deposits and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-32.07K	USD	3 Qtrs
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$-454.31K	USD	3 Qtrs
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$699.75K	USD	3 Qtrs
Accrued liabilities and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$352.53K	USD	3 Qtrs
Accrued liabilities and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$265.61K	USD	3 Qtrs
Net cash generated from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$202.61K	USD	3 Qtrs
Net cash generated from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$914.11K	USD	3 Qtrs
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.37K	USD	3 Qtrs
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.37K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	-	USD	3 Qtrs
Repayment of short-term borrowings	`ProceedsFromRepaymentsOfLinesOfCredit`	$-1.25M	USD	3 Qtrs
Repayment of short-term borrowings	`ProceedsFromRepaymentsOfLinesOfCredit`	$-619.97K	USD	3 Qtrs
Change in restricted cash	`ProceedsFromRepaymentsOfRestrictedCashFinancingActivities`	$7.73K	USD	3 Qtrs
Change in restricted cash	`ProceedsFromRepaymentsOfRestrictedCashFinancingActivities`	$266.05K	USD	3 Qtrs
Repayment of finance lease	`RepaymentsOfLongTermCapitalLeaseObligations`	$9.84K	USD	3 Qtrs
Repayment of finance lease	`RepaymentsOfLongTermCapitalLeaseObligations`	$9.47K	USD	3 Qtrs
Advance from a director	`ProceedsFromRepaymentsOfAdvancesFromAffiliates`	$245.04K	USD	3 Qtrs
Advance from a director	`ProceedsFromRepaymentsOfAdvancesFromAffiliates`	$177.27K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-186.50K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.01M	USD	3 Qtrs
Effect on exchange rate change on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$222.00	USD	3 Qtrs
Effect on exchange rate change on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$1.35K	USD	3 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-96.20K	USD	3 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$16.34K	USD	3 Qtrs
BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$101.51K	USD	Point-in-time
BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$57.78K	USD	Point-in-time
BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$41.44K	USD	Point-in-time
BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$5.31K	USD	Point-in-time
END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$101.51K	USD	Point-in-time
END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$57.78K	USD	Point-in-time
END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$41.44K	USD	Point-in-time
END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$5.31K	USD	Point-in-time
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Cash paid for interest	`InterestPaid`	$104.00K	USD	3 Qtrs
Cash paid for interest	`InterestPaid`	$160.76K	USD	3 Qtrs

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-31.80K	USD	Point-in-time
Balance	`StockholdersEquity`	$256.76K	USD	Point-in-time
Net loss for the period	`NetIncomeLoss`	$-347.31K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-288.79K	USD	3 Qtrs
Net loss for the period	`NetIncomeLoss`	$-114.14K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-736.42K	USD	3 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$226.00	USD	3 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$309.00	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-152.00	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$1.36K	USD	3 Qtrs
Balance	`StockholdersEquity`	$-31.80K	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.