10-Q Filing

TANKE BIOSCIENCES CORP CIK: 1452011 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001213900-13-002776`
Period End Date	20130331
Filing Date	20130520
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	tnbi-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 46 Cash Flow Statement 74

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.70M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	13.32M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.59M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.64M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	13.32M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	13.32M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$231.84K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	13.32M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.99M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.85M	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.41M	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.40M	USD	Point-in-time
Loans to customer and supplier	`AccountsAndOtherReceivablesNetCurrent`	$2.90M	USD	Point-in-time
Loans to customer and supplier	`AccountsAndOtherReceivablesNetCurrent`	$2.89M	USD	Point-in-time
Other receivables	`OtherReceivables`	$483.88K	USD	Point-in-time
Other receivables	`OtherReceivables`	$752.72K	USD	Point-in-time
Prepayments	`AdvancesToSuppliers`	$9.03M	USD	Point-in-time
Prepayments	`AdvancesToSuppliers`	$9.21M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$18.50K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$132.75K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$27.19K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$27.04K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.37M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$21.74M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$4.81M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.16M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$295.25K	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$557.87K	USD	Point-in-time
Intangible asset, net	`FiniteLivedIntangibleAssetsNet`	$1.20M	USD	Point-in-time
Intangible asset, net	`FiniteLivedIntangibleAssetsNet`	$1.24M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	-	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$134.74K	USD	Point-in-time
Total assets	`Assets`	$28.66M	USD	Point-in-time
Total assets	`Assets`	$28.85M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$659.25K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$646.65K	USD	Point-in-time
Advance from customers	`AdvancesFromCustomers`	$128.32K	USD	Point-in-time
Advance from customers	`AdvancesFromCustomers`	$245.82K	USD	Point-in-time
Other payables and accrued liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$732.81K	USD	Point-in-time
Other payables and accrued liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$942.79K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.85M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.84M	USD	Point-in-time
Convertible notes, net	`ConvertibleDebtCurrent`	$7.27M	USD	Point-in-time
Convertible notes, net	`ConvertibleDebtCurrent`	$7.51M	USD	Point-in-time
Current portion of long-term borrowings	`LongTermDebtCurrent`	$796.95K	USD	Point-in-time
Current portion of long-term borrowings	`LongTermDebtCurrent`	$1.27M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.79M	USD	Point-in-time
Advance from government grant	`GovernmentGrantsForResearchAndDevelopmentProjectsOutstanding`	$37.95K	USD	Point-in-time
Advance from government grant	`GovernmentGrantsForResearchAndDevelopmentProjectsOutstanding`	$49.83K	USD	Point-in-time
Long-term borrowings	`LongTermDebtNoncurrent`	$792.57K	USD	Point-in-time
Long-term borrowings	`LongTermDebtNoncurrent`	$1.43M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.28M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.93M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value, 50,000,000 shares authorized, 13,324,083 issued and outstanding as of March 31, 2013 and December 31, 2012	`CommonStockValue`	$13.32K	USD	Point-in-time
Common stock, $0.001 par value, 50,000,000 shares authorized, 13,324,083 issued and outstanding as of March 31, 2013 and December 31, 2012	`CommonStockValue`	$13.32K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.22M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.22M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.81M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.49M	USD	Point-in-time
Statutory reserve	`StatutoryAccountingPracticesRetainedEarningsNotAvailableForDividends`	$373.41K	USD	Point-in-time
Statutory reserve	`StatutoryAccountingPracticesRetainedEarningsNotAvailableForDividends`	$373.41K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$790.84K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$658.87K	USD	Point-in-time
Total Tanke Biosciences Corporation stockholders' equity	`StockholdersEquity`	$15.21M	USD	Point-in-time
Total Tanke Biosciences Corporation stockholders' equity	`StockholdersEquity`	$15.75M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$171.44K	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$169.88K	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.38M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.92M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$28.66M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$28.85M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$4.54M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$4.66M	USD	1 Quarter
Costs of sales	`CostOfGoodsSold`	$2.95M	USD	1 Quarter
Costs of sales	`CostOfGoodsSold`	$2.99M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.67M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.59M	USD	1 Quarter
Selling expenses	`SellingExpense`	$659.61K	USD	1 Quarter
Selling expenses	`SellingExpense`	$546.05K	USD	1 Quarter
Administrative expenses	`GeneralAndAdministrativeExpense`	$541.00K	USD	1 Quarter
Administrative expenses	`GeneralAndAdministrativeExpense`	$981.59K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$64.31K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$11.67K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$-39.89K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$488.51K	USD	1 Quarter
Other income/expense	`OtherNonoperatingIncomeExpense`	$3.27K	USD	1 Quarter
Other income/expense	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$7.33K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$21.20K	USD	1 Quarter
Interest expense	`InterestExpense`	$215.06K	USD	1 Quarter
Interest expense	`InterestExpense`	$373.09K	USD	1 Quarter
Amortization of discount on notes	`AmortizationOfFinancingCosts`	$690.90K	USD	1 Quarter
Amortization of discount on notes	`AmortizationOfFinancingCosts`	$402.39K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-646.75K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-554.28K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$32.10K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$116.70K	USD	1 Quarter
Net loss	`ProfitLoss`	$-670.98K	USD	1 Quarter
Net loss	`ProfitLoss`	$-678.84K	USD	1 Quarter
Net loss attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-2.52K	USD	1 Quarter
Net loss attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Net loss attributable to Tanke Biosciences Corporation	`NetIncomeLoss`	$-670.98K	USD	1 Quarter
Net loss attributable to Tanke Biosciences Corporation	`NetIncomeLoss`	$-676.33K	USD	1 Quarter
Net loss	`ProfitLoss`	$-670.98K	USD	1 Quarter
Net loss	`ProfitLoss`	$-678.84K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$112.49K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$131.97K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-558.49K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-546.87K	USD	1 Quarter
Comprehensive loss attributable to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-1.57K	USD	1 Quarter
Comprehensive loss attributable to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Comprehensive loss attributable to Tanke Biosciences Corporation	`ComprehensiveIncomeNetOfTax`	$-558.49K	USD	1 Quarter
Comprehensive loss attributable to Tanke Biosciences Corporation	`ComprehensiveIncomeNetOfTax`	$-545.30K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.32M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.32M	shares	1 Quarter

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-670.98K	USD	1 Quarter
Net loss	`ProfitLoss`	$-678.84K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$179.89K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$123.80K	USD	1 Quarter
Amortization of discount on convertible notes payable	`AmortizationOfFinancingCosts`	$690.90K	USD	1 Quarter
Amortization of discount on convertible notes payable	`AmortizationOfFinancingCosts`	$402.39K	USD	1 Quarter
Amortization of capitalized offering costs	`OtherAmortizationOfDeferredCharges`	$198.63K	USD	1 Quarter
Amortization of capitalized offering costs	`OtherAmortizationOfDeferredCharges`	$115.69K	USD	1 Quarter
Provision for bad debt	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$1.86K	USD	1 Quarter
Inventory provision	`InventoryWriteDown`	-	USD	1 Quarter
Inventory provision	`InventoryWriteDown`	$232.00	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-196.69K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-139.30K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-17.49K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$172.01K	USD	1 Quarter
Note receivables and payables - related parties	`IncreaseDecreaseInDueFromRelatedParties`	$-165.53K	USD	1 Quarter
Note receivables and payables - related parties	`IncreaseDecreaseInDueFromRelatedParties`	-	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$215.28K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$16.74K	USD	1 Quarter
Deferred tax asset	`IncreaseDecreaseInDeferredIncomeTaxes`	$150.00	USD	1 Quarter
Deferred tax asset	`IncreaseDecreaseInDeferredIncomeTaxes`	$395.00	USD	1 Quarter
Prepayments	`IncreaseDecreaseInPrepaidExpense`	$-316.05K	USD	1 Quarter
Prepayments	`IncreaseDecreaseInPrepaidExpense`	$178.60K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$1.44K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$29.55K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$31.26K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-134.74K	USD	1 Quarter
Advance from government grant	`IncreaseDecreaseInDeferredRevenue`	$-34.87K	USD	1 Quarter
Advance from government grant	`IncreaseDecreaseInDeferredRevenue`	$11.88K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-270.70K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$12.60K	USD	1 Quarter
Other payables and accrued liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$85.17K	USD	1 Quarter
Other payables and accrued liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-168.15K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-41.59K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$7.71K	USD	1 Quarter
Advance from customer	`IncreaseDecreaseInCustomerAdvances`	$117.50K	USD	1 Quarter
Advance from customer	`IncreaseDecreaseInCustomerAdvances`	-	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-101.19K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$508.68K	USD	1 Quarter
Increase in loans to customer and supplier	`IncreaseDecreaseInAccountsAndOtherReceivables`	-	USD	1 Quarter
Increase in loans to customer and supplier	`IncreaseDecreaseInAccountsAndOtherReceivables`	$180.03K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$193.63K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$746.03K	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$6.48K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-380.14K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-746.03K	USD	1 Quarter
Change in restricted cash	`IncreaseDecreaseInRestrictedCashAndInvestmentsForOperatingActivities`	$-231.84K	USD	1 Quarter
Change in restricted cash	`IncreaseDecreaseInRestrictedCashAndInvestmentsForOperatingActivities`	-	USD	1 Quarter
Payment on convertible notes	`RepaymentsOfConvertibleDebt`	$160.84K	USD	1 Quarter
Payment on convertible notes	`RepaymentsOfConvertibleDebt`	-	USD	1 Quarter
Proceeds from long-term borrowings	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Proceeds from long-term borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$955.20K	USD	1 Quarter
Principal payments for long-term borrowings	`RepaymentsOfLongTermDebt`	$304.74K	USD	1 Quarter
Principal payments for long-term borrowings	`RepaymentsOfLongTermDebt`	$796.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$230.20K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-304.74K	USD	1 Quarter
Effect of exchange rate fluctuations on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$34.25K	USD	1 Quarter
Effect of exchange rate fluctuations on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$112.49K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-63.72K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-582.77K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.70M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.59M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.17M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.64M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.70M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.59M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.17M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.64M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$21.05K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$99.37K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$168.47K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$34.58K	USD	1 Quarter

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