10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001204459-12-001220 |
| Period End Date | 20120331 |
| Filing Date | 20120521 |
| Fiscal Year | 2012 |
| Fiscal Period | Q1 |
| XBRL Instance | hghn-20120331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
76 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 |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$2.10M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$2.60M | USD | Point-in-time |
| Common Stock, Par Value Per Share |
CommonStockParOrStatedValuePerShare
|
$0.00 | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$2.94M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$2.53M | USD | Point-in-time |
| Common Stock, Par Value Per Share |
CommonStockParOrStatedValuePerShare
|
$0.00 | USD | Point-in-time |
| Restricted cash |
RestrictedCashAndCashEquivalents
|
$2.91M | 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 |
| Accounts receivable, net of allowance for doubtful accounts |
AccountsReceivableNetCurrent
|
$22.67M | 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 |
| Common Stock, Shares, Outstanding |
CommonStockSharesOutstanding
|
30.18M | shares | Point-in-time |
| Inventory |
InventoryNet
|
$4.10M | USD | Point-in-time |
| Inventory |
InventoryNet
|
$6.63M | USD | Point-in-time |
| Common Stock, Shares, Outstanding |
CommonStockSharesOutstanding
|
30.18M | shares | Point-in-time |
| Deposits and prepaid expenses |
PrepaidExpenseCurrent
|
$6.85M | USD | Point-in-time |
| Deposits and prepaid expenses |
PrepaidExpenseCurrent
|
$3.42M | USD | Point-in-time |
| Other receivables |
OtherReceivables
|
$4.08M | USD | Point-in-time |
| Other receivables |
OtherReceivables
|
$5.38M | USD | Point-in-time |
| Taxes recoverable |
ValueAddedTaxReceivableCurrent
|
$39.02K | USD | Point-in-time |
| Taxes recoverable |
ValueAddedTaxReceivableCurrent
|
$462.42K | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$45.70M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$37.84M | USD | Point-in-time |
| Property and equipment, net of accumulated depreciation |
PropertyPlantAndEquipmentNet
|
$3.83M | USD | Point-in-time |
| Property and equipment, net of accumulated depreciation |
PropertyPlantAndEquipmentNet
|
$4.11M | 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
|
$8.12M | USD | Point-in-time |
| Construction in progress |
ConstructionInProgressGross
|
$4.49M | USD | Point-in-time |
| Construction in progress |
ConstructionInProgressGross
|
$3.44M | USD | Point-in-time |
| Total Noncurrent Assets |
AssetsNoncurrent
|
$16.71M | USD | Point-in-time |
| Total Noncurrent Assets |
AssetsNoncurrent
|
$15.37M | USD | Point-in-time |
| Total assets |
Assets
|
$53.21M | USD | Point-in-time |
| Total assets |
Assets
|
$62.41M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$6.57M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$9.01M | USD | Point-in-time |
| Other payables and accrued expenses |
OtherAccountsPayableAndAccruedLiabilities
|
$4.63M | USD | Point-in-time |
| Other payables and accrued expenses |
OtherAccountsPayableAndAccruedLiabilities
|
$6.16M | USD | Point-in-time |
| Due to related parties |
DueToRelatedPartiesCurrent
|
$4.10M | USD | Point-in-time |
| Due to related parties |
DueToRelatedPartiesCurrent
|
$6.48M | USD | Point-in-time |
| Taxes payables |
TaxesPayableCurrent
|
$475.06K | USD | Point-in-time |
| Taxes payables |
TaxesPayableCurrent
|
$45.57K | USD | Point-in-time |
| Customer deposits |
CustomerDepositsCurrent
|
$763.52K | USD | Point-in-time |
| Customer deposits |
CustomerDepositsCurrent
|
$369.54K | USD | Point-in-time |
| Notes payable |
NotesPayableCurrent
|
- | USD | Point-in-time |
| Notes payable |
NotesPayableCurrent
|
$5.61M | USD | Point-in-time |
| Short term borrowings |
ShortTermBorrowings
|
$18.45M | USD | Point-in-time |
| Short term borrowings |
ShortTermBorrowings
|
$20.34M | USD | Point-in-time |
| Total Current Liabilities |
LiabilitiesCurrent
|
$46.12M | USD | Point-in-time |
| Total Current Liabilities |
LiabilitiesCurrent
|
$36.88M | USD | Point-in-time |
| Commitments and contingencies |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Commitments and contingencies |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Preferred stock: 10,000,000 authorized, none issued and outstanding $0.001 par value |
PreferredStockValue
|
- | USD | Point-in-time |
| Preferred 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 March 31, 2012 and December 31, 2011, 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 March 31, 2012 and December 31, 2011, respectively |
CommonStockValue
|
$30.18K | USD | Point-in-time |
| Additional paid in capital |
AdditionalPaidInCapital
|
$1.11M | USD | Point-in-time |
| Additional paid in capital |
AdditionalPaidInCapital
|
$1.11M | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$12.56M | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$12.41M | USD | Point-in-time |
| Accumulated other comprehensive income |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$1.33M | USD | Point-in-time |
| Accumulated other comprehensive income |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$1.23M | USD | Point-in-time |
| Total TEC Technology, Inc. and subsidiaries stockholders' equity |
StockholdersEquity
|
$14.88M | USD | Point-in-time |
| Total TEC Technology, Inc. and subsidiaries stockholders' equity |
StockholdersEquity
|
$14.92M | USD | Point-in-time |
| Non-controlling interests |
MinorityInterest
|
$1.40M | USD | Point-in-time |
| Non-controlling interests |
MinorityInterest
|
$1.41M | USD | Point-in-time |
| Total stockholders' equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$16.32M | USD | Point-in-time |
| Total stockholders' equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$16.29M | USD | Point-in-time |
| Total liabilities and stockholders' equity |
LiabilitiesAndStockholdersEquity
|
$53.21M | USD | Point-in-time |
| Total liabilities and stockholders' equity |
LiabilitiesAndStockholdersEquity
|
$62.41M | USD | Point-in-time |
Income Statement
46 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Revenues |
Revenues
|
$4.37M | USD | 1 Quarter |
| Revenues |
Revenues
|
$3.43M | USD | 1 Quarter |
| Cost of goods sold |
CostOfGoodsSold
|
$3.52M | USD | 1 Quarter |
| Cost of goods sold |
CostOfGoodsSold
|
$2.42M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$1.01M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$850.51K | USD | 1 Quarter |
| Selling and marketing expenses |
SellingAndMarketingExpense
|
$235.99K | USD | 1 Quarter |
| Selling and marketing expenses |
SellingAndMarketingExpense
|
$207.81K | USD | 1 Quarter |
| General and administrative expenses |
GeneralAndAdministrativeExpense
|
$379.41K | USD | 1 Quarter |
| General and administrative expenses |
GeneralAndAdministrativeExpense
|
$225.66K | USD | 1 Quarter |
| Net income from operations |
OperatingIncomeLoss
|
$235.12K | USD | 1 Quarter |
| Net income from operations |
OperatingIncomeLoss
|
$575.83K | USD | 1 Quarter |
| Government grant |
RevenueFromGrants
|
- | USD | 1 Quarter |
| Government grant |
RevenueFromGrants
|
$3.64K | USD | 1 Quarter |
| Other income |
OtherIncome
|
- | USD | 1 Quarter |
| Other income |
OtherIncome
|
$754.00 | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
$245.91K | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
$378.17K | USD | 1 Quarter |
| Net other income (expenses) |
NonoperatingIncomeExpense
|
$-373.78K | USD | 1 Quarter |
| Net other income (expenses) |
NonoperatingIncomeExpense
|
$-245.91K | USD | 1 Quarter |
| Net (loss) income before provision for income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
$329.92K | USD | 1 Quarter |
| Net (loss) income before provision for income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
$-138.66K | USD | 1 Quarter |
| Provision for income taxes |
IncomeTaxExpenseBenefit
|
$49.49K | USD | 1 Quarter |
| Provision for income taxes |
IncomeTaxExpenseBenefit
|
$9.06K | USD | 1 Quarter |
| Net (loss) income |
ProfitLoss
|
$-147.72K | USD | 1 Quarter |
| Net (loss) income |
ProfitLoss
|
$280.43K | USD | 1 Quarter |
| Less: loss (income) attributable to the non-controlling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
- | USD | 1 Quarter |
| Less: loss (income) attributable to the non-controlling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
- | USD | 1 Quarter |
| Net (loss) income attributable to the TEC Technology, Inc. and subsidiaries |
NetIncomeLoss
|
$-147.72K | USD | 1 Quarter |
| Net (loss) income attributable to the TEC Technology, Inc. and subsidiaries |
NetIncomeLoss
|
$280.43K | USD | 1 Quarter |
| Foreign currency translation gain/ (loss) |
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
$112.33K | USD | 1 Quarter |
| Foreign currency translation gain/ (loss) |
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
$82.09K | USD | 1 Quarter |
| Comprehensive (loss) income |
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
$362.52K | USD | 1 Quarter |
| Comprehensive (loss) income |
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
$-35.38K | USD | 1 Quarter |
| Less: other comrehensive (income) attributable to the non-controlling interest |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
- | USD | 1 Quarter |
| Less: other comrehensive (income) attributable to the non-controlling interest |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
$8.90K | USD | 1 Quarter |
| Comprehensive (loss)/income attributable to the TEC Technology, Inc. and subsidiaries |
ComprehensiveIncomeNetOfTax
|
$362.52K | USD | 1 Quarter |
| Comprehensive (loss)/income attributable to the TEC Technology, Inc. and subsidiaries |
ComprehensiveIncomeNetOfTax
|
$-44.28K | USD | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
30.18M | shares | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
30.18M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
30.18M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
30.18M | shares | 1 Quarter |
| Basic |
EarningsPerShareBasic
|
$-0.01 | USD | 1 Quarter |
| Basic |
EarningsPerShareBasic
|
$0.01 | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
$0.01 | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
$-0.01 | USD | 1 Quarter |
Cash Flow Statement
70 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net (loss) income for the period |
NetIncomeLoss
|
$-147.72K | USD | 1 Quarter |
| Net (loss) income for the period |
NetIncomeLoss
|
$280.43K | USD | 1 Quarter |
| Depreciation |
Depreciation
|
$98.02K | USD | 1 Quarter |
| Depreciation |
Depreciation
|
$79.62K | USD | 1 Quarter |
| Amortization of land use rights |
AmortizationOfLandUseRights
|
$10.93K | USD | 1 Quarter |
| Amortization of land use rights |
AmortizationOfLandUseRights
|
$25.71K | USD | 1 Quarter |
| Stock based compensation |
ShareBasedCompensation
|
$27.09K | USD | 1 Quarter |
| Stock based compensation |
ShareBasedCompensation
|
- | USD | 1 Quarter |
| (Increase)/decrease in restricted cash |
IncreaseDecreaseInRestrictedCashForOperatingActivities
|
$2.69M | USD | 1 Quarter |
| (Increase)/decrease in restricted cash |
IncreaseDecreaseInRestrictedCashForOperatingActivities
|
$-997.48K | USD | 1 Quarter |
| (Increase) decrease in inventory |
IncreaseDecreaseInInventories
|
$287.82K | USD | 1 Quarter |
| (Increase) decrease in inventory |
IncreaseDecreaseInInventories
|
$2.53M | USD | 1 Quarter |
| Increase in deposits and prepaid expenses |
IncreaseDecreaseInPrepaidExpense
|
$1.03M | USD | 1 Quarter |
| Increase in deposits and prepaid expenses |
IncreaseDecreaseInPrepaidExpense
|
$3.42M | USD | 1 Quarter |
| Increase in accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$336.18K | USD | 1 Quarter |
| Increase in accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$593.13K | USD | 1 Quarter |
| Decrease (increase) in other receivables |
IncreaseDecreaseInOtherReceivables
|
$303.56K | USD | 1 Quarter |
| Decrease (increase) in other receivables |
IncreaseDecreaseInOtherReceivables
|
$-1.31M | USD | 1 Quarter |
| (Increase) decrease in taxes recoverable |
IncreaseDecreaseInIncomeTaxesReceivable
|
$423.40K | USD | 1 Quarter |
| (Increase) decrease in taxes recoverable |
IncreaseDecreaseInIncomeTaxesReceivable
|
$-2.39K | USD | 1 Quarter |
| (Decrease) increase in taxes payable |
IncreaseDecreaseInAccruedTaxesPayable
|
$139.06K | USD | 1 Quarter |
| (Decrease) increase in taxes payable |
IncreaseDecreaseInAccruedTaxesPayable
|
$-429.50K | USD | 1 Quarter |
| Increase (decrease) in accounts payable |
IncreaseDecreaseInAccountsPayable
|
$-695.01K | USD | 1 Quarter |
| Increase (decrease) in accounts payable |
IncreaseDecreaseInAccountsPayable
|
$2.43M | USD | 1 Quarter |
| Decrease in customer deposits |
IncreaseDecreaseInCustomerDeposits
|
$-393.98K | USD | 1 Quarter |
| Decrease in customer deposits |
IncreaseDecreaseInCustomerDeposits
|
$-60.37K | USD | 1 Quarter |
| Increase in other payables and accrued expenses |
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
$4.91M | USD | 1 Quarter |
| Increase in other payables and accrued expenses |
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
$1.53M | USD | 1 Quarter |
| Net cash (used in) provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$3.73M | USD | 1 Quarter |
| Net cash (used in) provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-5.24M | USD | 1 Quarter |
| Purchases of property and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$91.56K | USD | 1 Quarter |
| Purchases of property and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$350.22K | USD | 1 Quarter |
| Payment for construction in progress |
PaymentsForConstructionInProcess
|
$133.13K | USD | 1 Quarter |
| Payment for construction in progress |
PaymentsForConstructionInProcess
|
$1.04M | USD | 1 Quarter |
| Purchases of land use rights |
PaymentsToAcquireLandHeldForUse
|
- | USD | 1 Quarter |
| Purchases of land use rights |
PaymentsToAcquireLandHeldForUse
|
$2.15M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-1.39M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-2.38M | USD | 1 Quarter |
| Proceeds from notes payable |
ProceedsFromNotesPayable
|
$5.61M | USD | 1 Quarter |
| Proceeds from notes payable |
ProceedsFromNotesPayable
|
- | USD | 1 Quarter |
| Advances from related parties |
ProceedsFromRelatedPartyDebt
|
- | USD | 1 Quarter |
| Advances from related parties |
ProceedsFromRelatedPartyDebt
|
$2.38M | USD | 1 Quarter |
| Proceeds from short term borrowings |
ProceedsFromShortTermDebt
|
$9.01M | USD | 1 Quarter |
| Proceeds from short term borrowings |
ProceedsFromShortTermDebt
|
- | USD | 1 Quarter |
| Repayment of short term borrowings |
RepaymentsOfShortTermDebt
|
$1.08M | USD | 1 Quarter |
| Repayment of short term borrowings |
RepaymentsOfShortTermDebt
|
$11.03M | USD | 1 Quarter |
| Net cash provided by (used in) financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-1.08M | USD | 1 Quarter |
| Net cash provided by (used in) financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$5.97M | USD | 1 Quarter |
| Effects on exchange rate changes on cash |
EffectOfExchangeRateOnCashAndCashEquivalents
|
$173.00K | USD | 1 Quarter |
| Effects on exchange rate changes on cash |
EffectOfExchangeRateOnCashAndCashEquivalents
|
$141.29K | USD | 1 Quarter |
| (Decrease) increase in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$415.20K | USD | 1 Quarter |
| (Decrease) increase in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-496.81K | USD | 1 Quarter |
| Cash and cash equivalents, beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$2.10M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$2.60M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$2.94M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$2.53M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$2.10M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$2.60M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$2.94M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$2.53M | USD | Point-in-time |
| Cash paid for interest |
InterestPaid
|
$378.17K | USD | 1 Quarter |
| Cash paid for interest |
InterestPaid
|
$897.62K | USD | 1 Quarter |
| Cash paid for income taxes |
IncomeTaxesPaid
|
$2.20M | USD | 1 Quarter |
| Cash paid for income taxes |
IncomeTaxesPaid
|
$152.55K | USD | 1 Quarter |
| Issuance of warrant |
IssuanceOfWarrant
|
$62.20K | USD | 1 Quarter |
| Issuance of warrant |
IssuanceOfWarrant
|
- | USD | 1 Quarter |
| Acquisition of land use rights from deposits and prepaid expenses |
AcquisitionOfLandUseRightsFromDepositsAndPrepaidExpenses
|
$3.63M | USD | 1 Quarter |
| Acquisition of land use rights from deposits and prepaid expenses |
AcquisitionOfLandUseRightsFromDepositsAndPrepaidExpenses
|
- | USD | 1 Quarter |
| Capital contributed by directors assuming debts of the Company |
CapitalContributedByDirectorsAssumingDebtsOfCompany
|
$80.56K | USD | 1 Quarter |
| Capital contributed by directors assuming debts of the Company |
CapitalContributedByDirectorsAssumingDebtsOfCompany
|
- | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.