10-K Filing

SILVAN INDUSTRIES, INC. CIK: 1373683 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001204459-12-000820`
Period End Date	20111231
Filing Date	20120416
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	pnxe-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 46 Cash Flow Statement 74 Stockholders Equity 14

Balance Sheet 82 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`	5.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$159.41K	USD	Point-in-time
Common Stock, Par Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$738.59K	USD	Point-in-time
Common Stock, Par Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$362.81K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$3.93M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$1.97M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	30.02M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	30.00M	shares	Point-in-time
Accounts receivable, net of allowance	`AccountsReceivableNetCurrent`	$5.99M	USD	Point-in-time
Accounts receivable, net of allowance	`AccountsReceivableNetCurrent`	$5.42M	USD	Point-in-time
Inventory	`InventoryNet`	$16.42M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	30.02M	shares	Point-in-time
Inventory	`InventoryNet`	$6.95M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	30.00M	shares	Point-in-time
Deposits and prepaid expenses	`DepositsAssetsCurrent`	$10.56M	USD	Point-in-time
Deposits and prepaid expenses	`DepositsAssetsCurrent`	$17.80M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$982.31K	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$777.24K	USD	Point-in-time
Due from related party	`DueFromRelatedPartiesCurrent`	$1.42M	USD	Point-in-time
Due from related party	`DueFromRelatedPartiesCurrent`	-	USD	Point-in-time
Taxes recoverable	`ValueAddedTaxReceivable`	$632.79K	USD	Point-in-time
Taxes recoverable	`ValueAddedTaxReceivable`	$2.45M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	-	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$137.22K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$47.48M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.50M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$6.35M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$16.23M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$9.22M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$6.67M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$5.30M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$5.44M	USD	Point-in-time
Prepayment for property, plant and equipment	`DepositsAssetsNoncurrent`	$207.78K	USD	Point-in-time
Prepayment for property, plant and equipment	`DepositsAssetsNoncurrent`	$1.83M	USD	Point-in-time
Total assets	`Assets`	$48.65M	USD	Point-in-time
Total assets	`Assets`	$78.57M	USD	Point-in-time
Short term borrowings	`ShortTermBankLoansAndNotesPayable`	$16.20M	USD	Point-in-time
Short term borrowings	`ShortTermBankLoansAndNotesPayable`	$4.54M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$662.49K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$658.21K	USD	Point-in-time
Bills payable	`NotesAndLoansPayableCurrent`	$7.86M	USD	Point-in-time
Bills payable	`NotesAndLoansPayableCurrent`	$2.73M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$4.00M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$1.94M	USD	Point-in-time
Other payables and accrued expenses	`OtherAccountsPayableAndAccruedLiabilities`	$1.42M	USD	Point-in-time
Other payables and accrued expenses	`OtherAccountsPayableAndAccruedLiabilities`	$1.83M	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$1.53M	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$4.30M	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$2.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$34.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.72M	USD	Point-in-time
Long term debt	`LongTermLoansFromBank`	$4.09M	USD	Point-in-time
Long term debt	`LongTermLoansFromBank`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$38.54M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.72M	USD	Point-in-time
Commitment and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitment and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock: 5,000,000 shares authorized of $0.001 par value none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock: 5,000,000 shares authorized of $0.001 par value none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock: 100,000,000 shares authorized of $0.001 par value 30,020,000 and 30,000,000 shares issued and outstanding as of December 31, 2011 and 2010, respectively	`CommonStockValue`	$30.00K	USD	Point-in-time
Common stock: 100,000,000 shares authorized of $0.001 par value 30,020,000 and 30,000,000 shares issued and outstanding as of December 31, 2011 and 2010, respectively	`CommonStockValue`	$30.02K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$18.08M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$17.99M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$3.52M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.29M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$16.13M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.62M	USD	Point-in-time
Statutory reserve	`StatutoryAccountingPracticesStatutoryCapitalAndSurplusBalance`	-	USD	Point-in-time
Statutory reserve	`StatutoryAccountingPracticesStatutoryCapitalAndSurplusBalance`	$2.28M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$17.66M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$40.04M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$32.93M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$78.57M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$48.65M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$37.04M	USD	Annual
Revenue	`Revenues`	$36.68M	USD	Annual
Cost of revenue	`CostOfRevenue`	$25.30M	USD	Annual
Cost of revenue	`CostOfRevenue`	$23.48M	USD	Annual
Gross profit	`GrossProfit`	$13.20M	USD	Annual
Gross profit	`GrossProfit`	$11.75M	USD	Annual
Selling expenses	`SellingExpense`	$1.37M	USD	Annual
Selling expenses	`SellingExpense`	$252.04K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.32M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.45M	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.69M	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.70M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$10.05M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$9.51M	USD	Annual
Interest income	`InvestmentIncomeInterest`	-	USD	Annual
Interest income	`InvestmentIncomeInterest`	$36.39K	USD	Annual
Interest expense	`InterestExpense`	$1.59M	USD	Annual
Interest expense	`InterestExpense`	$289.41K	USD	Annual
Other income	`OtherNonoperatingIncome`	$4.61K	USD	Annual
Other income	`OtherNonoperatingIncome`	$103.41K	USD	Annual
Other expenses	`OtherNonoperatingExpense`	-	USD	Annual
Other expenses	`OtherNonoperatingExpense`	$225.30K	USD	Annual
Value added tax refund	`ValueAddedTaxRefund`	-	USD	Annual
Value added tax refund	`ValueAddedTaxRefund`	$2.11M	USD	Annual
Government grant	`RevenueFromGrants`	$208.38K	USD	Annual
Government grant	`RevenueFromGrants`	-	USD	Annual
Total other (expenses) income	`NonoperatingIncomeExpense`	$1.92M	USD	Annual
Total other (expenses) income	`NonoperatingIncomeExpense`	$-1.57M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$7.95M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$11.97M	USD	Annual
Less: Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.16M	USD	Annual
Less: Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.68M	USD	Annual
Net income	`NetIncomeLoss`	$9.29M	USD	Annual
Net income	`NetIncomeLoss`	$5.79M	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.03M	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.23M	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$10.32M	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$7.01M	USD	Annual
- Basic	`EarningsPerShareBasic`	$0.42	USD	Annual
- Basic	`EarningsPerShareBasic`	$0.19	USD	Annual
- Diluted	`EarningsPerShareDiluted`	$0.19	USD	Annual
- Diluted	`EarningsPerShareDiluted`	$0.42	USD	Annual
- Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	22.08M	shares	Annual
- Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	30.00M	shares	Annual
- Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.09M	shares	Annual
- Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	30.00M	shares	Annual

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$9.29M	USD	Annual
Net income	`NetIncomeLoss`	$5.79M	USD	Annual
Depreciation	`Depreciation`	$284.33K	USD	Annual
Depreciation	`Depreciation`	$477.48K	USD	Annual
Amortization	`AdjustmentForAmortization`	$274.62K	USD	Annual
Amortization	`AdjustmentForAmortization`	$218.80K	USD	Annual
Settlement expense through issuance of common stock	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual
Settlement expense through issuance of common stock	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$91.00K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$150.17K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	-	USD	Annual
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	$1.18M	USD	Annual
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	$1.86M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.41M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$358.21K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-3.84M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$9.07M	USD	Annual
Deposits and prepaid expenses	`IncreaseDecreaseInDeposits`	$-4.39M	USD	Annual
Deposits and prepaid expenses	`IncreaseDecreaseInDeposits`	$-6.77M	USD	Annual
Other receivables	`IncreaseDecreaseInOtherReceivables`	$87.34K	USD	Annual
Other receivables	`IncreaseDecreaseInOtherReceivables`	$173.68K	USD	Annual
Taxes recoverable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-1.88M	USD	Annual
Taxes recoverable	`IncreaseDecreaseInIncomeTaxesReceivable`	$2.26M	USD	Annual
Deferred tax assets	`IncreaseDecreaseInDeferredIncomeTaxes`	-	USD	Annual
Deferred tax assets	`IncreaseDecreaseInDeferredIncomeTaxes`	$134.98K	USD	Annual
Bills payable	`IncreaseDecreaseInNotesPayableCurrent`	$4.95M	USD	Annual
Bills payable	`IncreaseDecreaseInNotesPayableCurrent`	$1.18M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-7.29M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-19.56K	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$1.10M	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$1.96M	USD	Annual
Other payables and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-1.37M	USD	Annual
Other payables and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-594.65K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedTaxesPayable`	$2.12M	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedTaxesPayable`	$1.68M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.87M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.79M	USD	Annual
Acquisition of property, plant and equipment and construction in progress	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.99M	USD	Annual
Acquisition of property, plant and equipment and construction in progress	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.24M	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$2.54M	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.99M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.78M	USD	Annual
Net proceeds from issuance of convertible notes	`ProceedsFromConvertibleDebt`	$2.84M	USD	Annual
Net proceeds from issuance of convertible notes	`ProceedsFromConvertibleDebt`	-	USD	Annual
Repayment of short term and long term loans	`RepaymentsOfBankDebt`	$4.63M	USD	Annual
Repayment of short term and long term loans	`RepaymentsOfBankDebt`	$743.33K	USD	Annual
Proceeds from short term and long term loans	`ProceedsFromBankDebt`	$19.96M	USD	Annual
Proceeds from short term and long term loans	`ProceedsFromBankDebt`	$3.78M	USD	Annual
Repayment of due to related party	`RepaymentsOfRelatedPartyDebt`	$3.48M	USD	Annual
Repayment of due to related party	`RepaymentsOfRelatedPartyDebt`	$2.88M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.45M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.39M	USD	Annual
Effect of exchange rate changes in cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$4.96K	USD	Annual
Effect of exchange rate changes in cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.02M	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-203.40K	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-375.78K	USD	Annual
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$159.41K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$738.59K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$362.81K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$159.41K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$738.59K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$362.81K	USD	Point-in-time
Interest	`InterestPaid`	$289.41K	USD	Annual
Interest	`InterestPaid`	$1.59M	USD	Annual
Income taxes	`IncomeTaxesPaid`	$2.06M	USD	Annual
Income taxes	`IncomeTaxesPaid`	$603.36K	USD	Annual
Common stock issued for payment of notes payable	`StockIssued1`	$400.00K	USD	Annual
Common stock issued for payment of notes payable	`StockIssued1`	-	USD	Annual
Common stock issued for stock offering costs	`CommonStockIssuedForStockOfferingCosts`	-	USD	Annual
Common stock issued for stock offering costs	`CommonStockIssuedForStockOfferingCosts`	$331.00K	USD	Annual
Land use rights transferred from related party	`LandUseRightsTransferredFromRelatedParty`	$5.89M	USD	Annual
Land use rights transferred from related party	`LandUseRightsTransferredFromRelatedParty`	-	USD	Annual
Proceeds from issuance of convertible notes received by related party	`ProceedsFromIssuanceOfConvertibleNotesReceivedByRelatedParty`	-	USD	Annual
Proceeds from issuance of convertible notes received by related party	`ProceedsFromIssuanceOfConvertibleNotesReceivedByRelatedParty`	$1.96M	USD	Annual

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$17.66M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$40.04M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$32.93M	USD	Point-in-time
Issue of common stock for settlement of convertible notes of CBF	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$400.00K	USD	Annual
Issuance of warrant	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual
Issuance of warrant	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$91.00K	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$1.23M	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$1.03M	USD	Annual
Stock Issued During Period, Value, New Issues	`StockIssuedDuringPeriodValueNewIssues`	$91.00K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$9.29M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$5.79M	USD	Annual
Ending Balance	`StockholdersEquity`	$17.66M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$40.04M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$32.93M	USD	Point-in-time

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