10-K Filing

TELIDYNE, INC. CIK: 1101246 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001204459-12-000819`
Period End Date	20111231
Filing Date	20120416
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	hghn-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 46 Cash Flow Statement 74 Stockholders Equity 16

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Par Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Common Stock, Par Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$164.93K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.53M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$217.88K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$1.16M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	30.18M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	30.18M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$22.07M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$14.36M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	30.18M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	30.18M	shares	Point-in-time
Inventory	`InventoryNet`	$4.10M	USD	Point-in-time
Inventory	`InventoryNet`	$5.24M	USD	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseCurrent`	$3.42M	USD	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseCurrent`	$5.44M	USD	Point-in-time
Other receivables	`OtherReceivables`	$5.38M	USD	Point-in-time
Other receivables	`OtherReceivables`	$1.63M	USD	Point-in-time
Taxes recoverable	`ValueAddedTaxReceivableCurrent`	$2.39K	USD	Point-in-time
Taxes recoverable	`ValueAddedTaxReceivableCurrent`	$39.02K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$37.84M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$30.35M	USD	Point-in-time
Property and equipment, net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$3.79M	USD	Point-in-time
Property and equipment, net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$3.83M	USD	Point-in-time
Land use rights, net of accumulated amortization	`LandUseRightsNetOfAccumulatedAmortization`	$8.09M	USD	Point-in-time
Land use rights, net of accumulated amortization	`LandUseRightsNetOfAccumulatedAmortization`	$2.07M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$3.44M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$473.36K	USD	Point-in-time
Total Noncurrent Asset	`AssetsNoncurrent`	$6.34M	USD	Point-in-time
Total Noncurrent Asset	`AssetsNoncurrent`	$15.37M	USD	Point-in-time
Total assets	`Assets`	$53.21M	USD	Point-in-time
Total assets	`Assets`	$36.69M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.31M	USD	Point-in-time
Other payables and accrued expenses	`OtherAccountsPayableAndAccruedLiabilities`	$4.63M	USD	Point-in-time
Other payables and accrued expenses	`OtherAccountsPayableAndAccruedLiabilities`	$704.79K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$4.10M	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$2.79M	USD	Point-in-time
Taxes payables	`TaxesPayableCurrent`	$475.06K	USD	Point-in-time
Taxes payables	`TaxesPayableCurrent`	$44.61K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$80.33K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$763.52K	USD	Point-in-time
Short term borrowings	`ShortTermBorrowings`	$12.94M	USD	Point-in-time
Short term borrowings	`ShortTermBorrowings`	$20.34M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$36.88M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$24.87M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred "B" stock: 10,000,000 authorized, none issued and outstanding $0.001 par value	`PreferredStockValue`	-	USD	Point-in-time
Preferred "B" stock: 10,000,000 authorized, none issued and outstanding $0.001 par value	`PreferredStockValue`	-	USD	Point-in-time
Common stock: 300,000,000 authorized $0.001 par value 30,181,552 shares issued and outstanding as of December 31, 2011 and December 31, 2010, respectively	`CommonStockValue`	$30.18K	USD	Point-in-time
Common stock: 300,000,000 authorized $0.001 par value 30,181,552 shares issued and outstanding as of December 31, 2011 and December 31, 2010, respectively	`CommonStockValue`	$30.18K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$1.02M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$1.11M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$10.08M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.56M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.23M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$683.04K	USD	Point-in-time
Total TEC Technology, Inc. and subsidiaries stockholders' equity	`StockholdersEquity`	$14.92M	USD	Point-in-time
Total TEC Technology, Inc. and subsidiaries stockholders' equity	`StockholdersEquity`	$11.82M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	-	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$1.40M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$16.32M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.53M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$11.82M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$36.69M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$53.21M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$32.90M	USD	Annual
Revenues	`Revenues`	$32.24M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$21.55M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$24.34M	USD	Annual
Gross profit	`GrossProfit`	$10.69M	USD	Annual
Gross profit	`GrossProfit`	$8.56M	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$1.39M	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$2.12M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.47M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.85M	USD	Annual
Net income from operations	`OperatingIncomeLoss`	$3.97M	USD	Annual
Net income from operations	`OperatingIncomeLoss`	$7.45M	USD	Annual
Government grant	`RevenueFromGrants`	$219.54K	USD	Annual
Government grant	`RevenueFromGrants`	$190.76K	USD	Annual
Other income	`OtherIncome`	$15.47K	USD	Annual
Other income	`OtherIncome`	$26.96K	USD	Annual
Interest expense	`InterestExpense`	$1.25M	USD	Annual
Interest expense	`InterestExpense`	$896.46K	USD	Annual
Net other income (expenses)	`NonoperatingIncomeExpense`	$-1.00M	USD	Annual
Net other income (expenses)	`NonoperatingIncomeExpense`	$-690.24K	USD	Annual
Net income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.97M	USD	Annual
Net income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.76M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$483.05K	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.02M	USD	Annual
Net income	`ProfitLoss`	$2.48M	USD	Annual
Net income	`ProfitLoss`	$5.74M	USD	Annual
Less: Net income attributable to the non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	Annual
Less: Net income attributable to the non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	Annual
Net income attributable to the TEC Technology, Inc. and subsidiaries	`NetIncomeLoss`	$5.74M	USD	Annual
Net income attributable to the TEC Technology, Inc. and subsidiaries	`NetIncomeLoss`	$2.48M	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$355.14K	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$545.78K	USD	Annual
Comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$6.09M	USD	Annual
Comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$3.03M	USD	Annual
Less: Other income attributable to the non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	-	USD	Annual
Less: Other income attributable to the non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	-	USD	Annual
Comprehensive income attributable to the TEC Technology, Inc. and subsidiaries	`ComprehensiveIncomeNetOfTax`	$6.09M	USD	Annual
Comprehensive income attributable to the TEC Technology, Inc. and subsidiaries	`ComprehensiveIncomeNetOfTax`	$3.03M	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	30.18M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.52M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	30.18M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.52M	shares	Annual
Basic	`EarningsPerShareBasic`	$0.08	USD	Annual
Basic	`EarningsPerShareBasic`	$0.22	USD	Annual
Diluted	`EarningsPerShareDiluted`	$0.08	USD	Annual
Diluted	`EarningsPerShareDiluted`	$0.22	USD	Annual

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net income for the year	`NetIncomeLoss`	$5.74M	USD	Annual
Net income for the year	`NetIncomeLoss`	$2.48M	USD	Annual
Depreciation	`Depreciation`	$356.29K	USD	Annual
Depreciation	`Depreciation`	$266.13K	USD	Annual
Loss on disposal of property and equipment	`LossesGainsOnSalesOfAssetsAndAssetImpairmentCharges`	-	USD	Annual
Loss on disposal of property and equipment	`LossesGainsOnSalesOfAssetsAndAssetImpairmentCharges`	$540.00	USD	Annual
Amortization of land use rights	`AmortizationOfLandUseRights`	$42.49K	USD	Annual
Amortization of land use rights	`AmortizationOfLandUseRights`	$44.50K	USD	Annual
Allowance for bad and doubtful debts	`ProvisionForDoubtfulAccounts`	$70.00K	USD	Annual
Allowance for bad and doubtful debts	`ProvisionForDoubtfulAccounts`	$107.55K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$155.00K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$62.20K	USD	Annual
Decrease (increase) in restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	$-946.71K	USD	Annual
Decrease (increase) in restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	$1.16M	USD	Annual
Decrease in inventory	`IncreaseDecreaseInInventories`	$-1.13M	USD	Annual
Decrease in inventory	`IncreaseDecreaseInInventories`	$-1.83M	USD	Annual
Increase in deposits and prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.65M	USD	Annual
Increase in deposits and prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$2.72M	USD	Annual
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.63M	USD	Annual
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.89M	USD	Annual
(Increase) decrease in other receivables	`IncreaseDecreaseInOtherReceivables`	$3.76M	USD	Annual
(Increase) decrease in other receivables	`IncreaseDecreaseInOtherReceivables`	$-2.55M	USD	Annual
(Increase) decrease in taxes recoverable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-2.50K	USD	Annual
(Increase) decrease in taxes recoverable	`IncreaseDecreaseInIncomeTaxesReceivable`	$36.63K	USD	Annual
Increase (decrease) in taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$-1.26M	USD	Annual
Increase (decrease) in taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$430.45K	USD	Annual
(Decrease) increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.30M	USD	Annual
(Decrease) increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.74M	USD	Annual
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$683.19K	USD	Annual
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-33.54K	USD	Annual
Increase/(decrease) in other payables and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$3.93M	USD	Annual
Increase/(decrease) in other payables and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-2.92M	USD	Annual
Increase in due to related parties	`IncreaseDecreaseInDueToRelatedParties`	$2.79M	USD	Annual
Increase in due to related parties	`IncreaseDecreaseInDueToRelatedParties`	$1.31M	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.59M	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.01M	USD	Annual
Disposal proceeds of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	Annual
Disposal proceeds of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$5.41K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$605.97K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$258.18K	USD	Annual
Payment for construction in progress	`PaymentsForConstructionInProcess`	$473.36K	USD	Annual
Payment for construction in progress	`PaymentsForConstructionInProcess`	$2.97M	USD	Annual
Purchases of land use rights	`PaymentsToAcquireLandHeldForUse`	$2.26M	USD	Annual
Purchases of land use rights	`PaymentsToAcquireLandHeldForUse`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.08M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.48M	USD	Annual
Capital contribution from non-controlling interest to a subsidiary	`ProceedsFromContributedCapital`	$1.40M	USD	Annual
Capital contribution from non-controlling interest to a subsidiary	`ProceedsFromContributedCapital`	-	USD	Annual
Proceeds from short term borrowings	`ProceedsFromShortTermDebt`	$20.34M	USD	Annual
Proceeds from short term borrowings	`ProceedsFromShortTermDebt`	$3.33M	USD	Annual
Repayment of short term borrowings	`RepaymentsOfShortTermDebt`	$3.52M	USD	Annual
Repayment of short term borrowings	`RepaymentsOfShortTermDebt`	$12.94M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.79M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-189.20K	USD	Annual
Effects on exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$621.31K	USD	Annual
Effects on exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$343.78K	USD	Annual
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$72.75K	USD	Annual
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.36M	USD	Annual
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$164.93K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$2.60M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$2.53M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$164.93K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$2.60M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$2.53M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$1.25M	USD	Annual
Cash paid for interest	`InterestPaid`	$897.62K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$2.20M	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$376.20K	USD	Annual
Issuance of warrant	`IssuanceOfWarrant`	$62.20K	USD	Annual
Issuance of warrant	`IssuanceOfWarrant`	$186.60K	USD	Annual
Capital contributed by directors assuming debts of Company	`CapitalContributedByDirectorsAssumingDebtsOfCompany`	$18.36K	USD	Annual
Capital contributed by directors assuming debts of Company	`CapitalContributedByDirectorsAssumingDebtsOfCompany`	-	USD	Annual
Acquisition of land use rights from deposits and prepaid expenses	`AcquisitionOfLandUseRightsFromDepositsAndPrepaidExpenses`	-	USD	Annual
Acquisition of land use rights from deposits and prepaid expenses	`AcquisitionOfLandUseRightsFromDepositsAndPrepaidExpenses`	$3.63M	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$16.32M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.53M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$11.82M	USD	Point-in-time
Issuance of warrant	`IssuanceOfWarrant`	$62.20K	USD	Annual
Issuance of warrant	`IssuanceOfWarrant`	$186.60K	USD	Annual
Net income for the year	`NetIncomeLoss`	$5.74M	USD	Annual
Net income for the year	`NetIncomeLoss`	$2.48M	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$355.14K	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$545.78K	USD	Annual
Capital contributed by directors assuming debts of Company	`CapitalContributedByDirectorsAssumingDebtsOfCompany`	$18.36K	USD	Annual
Capital contributed by directors assuming debts of Company	`CapitalContributedByDirectorsAssumingDebtsOfCompany`	-	USD	Annual
Capital contribution from non-controlling interest to a subsidiary	`ProceedsFromContributedCapital`	$1.40M	USD	Annual
Capital contribution from non-controlling interest to a subsidiary	`ProceedsFromContributedCapital`	-	USD	Annual
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$16.32M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.53M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$11.82M	USD	Point-in-time

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