| Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||
Net (loss) income | ||||||||
49,546 | 26,192 | 92,903 | 21,561 | 47,331 | 28,339 | 32,670 | 27,231 | 19,040 |
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities: | ||||||||
Depreciation | ||||||||
1,715 | 1,637 | 1,403 | 1,388 | 1,426 | 1,432 | 1,402 | 1,361 | 1,297 |
Amortization of intangible assets | ||||||||
11 | 11 | 11 | 12 | 12 | 12 | 11 | 11 | 11 |
Warrants and shares issued for consulting services | ||||||||
- | - | 195 | 0 | - | - | - | - | - |
Amortization of debt issuance costs included in interest expense | ||||||||
12,247 | 10,958 | 7,479 | 490 | 0 | - | - | - | - |
Share based compensation for services and warrants expense | ||||||||
21 | 33 | 44 | 530 | 3,149 | 1,532 | 1,178 | 804 | 825 |
Inventory valuation allowance | ||||||||
- | - | - | - | - | 1,088 | 0 | - | - |
Gain on sale of Jewelry Park | ||||||||
- | - | 63,212 | 0 | - | - | - | - | - |
Gain on deconsolidation of subsidiaries | ||||||||
- | - | 7 | 0 | - | - | - | - | - |
Deferred tax (benefit) provision | ||||||||
4,764 | -7,683 | -428 | 1,849 | - | - | - | - | - |
Deferred tax provision (benefit) | ||||||||
- | - | - | - | 0 | -272 | 0 | - | - |
Changes in operating assets and liabilities | ||||||||
Accounts receivable | ||||||||
-286 | 50 | -885 | 1,196 | -26 | -180 | -203 | -315 | 646 |
Inventories | ||||||||
-205,234 | 7,279 | -173,787 | 101,320 | 38,924 | 20,400 | 41,984 | 48,845 | 21,988 |
Other current assets and prepaid expenses | ||||||||
-7 | -620 | -216 | 1,032 | -8,193 | 7,566 | - | - | - |
Other current assets and prepaid expenses | ||||||||
- | - | - | - | - | - | 48 | 10 | -30 |
Value added tax recoverable | ||||||||
-78,022 | 60,195 | 270,013 | 11,739 | -1,959 | -1,022 | 2,281 | 698 | -2,091 |
Accrued expenses and other payables | ||||||||
-3,736 | 4,143 | 8,081 | 3,634 | -512 | 1,611 | 562 | -852 | 1,328 |
Customer deposits | ||||||||
-144 | 185 | -21,673 | 23,118 | 0 | - | - | - | - |
Income tax payable | ||||||||
17,585 | 4,718 | -4,575 | 201 | -2,273 | 591 | 1,135 | -815 | 770 |
Other taxes payable | ||||||||
106 | 957 | 893 | -27 | -66 | 165 | 98 | -8 | 337 |
Proceeds from sale of property and equipment | ||||||||
- | - | - | - | 1 | 0 | - | - | - |
Construction payable- Jewelry Park | ||||||||
- | - | - | - | 0 | - | - | - | - |
Net cash (used in) provided by operating activities | ||||||||
365,670 | -25,749 | -74,007 | -62,528 | - | - | -7,051 | -21,506 | 2,431 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||
Net cash used in operating activities | ||||||||
- | - | - | - | 20,324 | 7,737 | - | - | - |
Purchases of property and equipment | ||||||||
145 | 1,241 | 1,507 | 67 | 19 | 78 | 150 | 368 | 31 |
Investments in gold | ||||||||
0 | 551,958 | 1,913,474 | 0 | - | - | - | - | - |
Proceeds from disposal of subsidiaries | ||||||||
- | - | 82 | 0 | - | - | - | - | - |
Long term investment | ||||||||
- | - | 143 | 0 | - | - | - | - | - |
Construction payable - Jewelry Park | ||||||||
- | - | 0 | 24,884 | - | - | - | - | - |
Proceed from sale of Jewelry Park | ||||||||
- | - | 171,580 | 0 | - | - | - | - | - |
Construction costs related to Jewelry Park | ||||||||
- | - | 19,415 | 52,775 | - | - | - | - | - |
Net cash used in investing activities | ||||||||
-145 | -553,200 | -1,762,877 | -27,958 | - | - | -150 | -368 | -31 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||
Cash deposit for land use right-Jewelry Park | ||||||||
- | - | - | - | - | 32,287 | - | - | - |
Cash payment in construction in progress-Jewelry Park | ||||||||
- | - | - | - | 35,590 | 0 | - | - | - |
Net cash used in investing activities | ||||||||
- | - | - | - | -35,779 | -32,366 | - | - | - |
Proceeds from capital contribution by minority shareholder | ||||||||
- | - | 0 | -69 | 0 | - | - | - | - |
Proceeds from other loans - short term | ||||||||
214,833 | 170,341 | 249,695 | 89,904 | - | - | 209 | - | - |
Repayments of other loans - short term | ||||||||
749,080 | 304,869 | 54,183 | 48,139 | - | - | - | - | - |
Proceeds from other loans - long term | ||||||||
423,197 | 319,668 | 1,285,200 | 64,217 | - | - | - | - | - |
Net Proceeds from stock repurchase agreement | ||||||||
- | - | - | - | - | - | 751 | 0 | - |
Deferred offering costs | ||||||||
- | - | - | - | - | - | - | 666 | -666 |
Proceeds from other loans short term | ||||||||
- | - | - | - | 24,000 | 48,915 | 6,337 | 21,557 | 5,910 |
Repayments of other loans short term | ||||||||
- | - | - | - | 57,031 | 6,457 | 6,337 | 21,557 | 8,865 |
Proceeds from long term loans | ||||||||
- | - | - | - | 3,672 | 28,619 | 0 | - | - |
Proceeds from related party loan - long term | ||||||||
0 | 295,989 | 150,509 | 0 | 65,082 | 0 | - | 3,655 | - |
Proceeds from related parties loans – long term | ||||||||
545,924 | 821,370 | 481,630 | 0 | - | - | - | - | - |
Repayments of related parties loans | ||||||||
791,834 | 748,170 | 150,509 | 0 | - | - | - | - | - |
Repayments of other loans - long term | ||||||||
- | - | 30,252 | 0 | - | - | - | - | - |
Repayment of related party loans - long term | ||||||||
- | - | - | - | 13,016 | 52,354 | - | 3,655 | - |
Repayment of loan origination fees | ||||||||
11,959 | 9,572 | 15,720 | 0 | - | - | - | - | - |
Proceeds from third parties loans | ||||||||
- | - | 37,627 | 0 | - | - | - | - | - |
Repayment of third parties loans | ||||||||
0 | 29,598 | 7,525 | 0 | - | - | - | - | - |
Restricted cash | ||||||||
- | - | -37,037 | -13,177 | -2,194 | -12,500 | 0 | - | 1,477 |
Borrowings from related party | ||||||||
1,346 | -4,738 | 7,282 | 200 | - | - | - | - | - |
Repayment of debt financing instruments under private placement | ||||||||
- | - | 60,203 | 0 | - | - | - | - | - |
Cash dividend paid | ||||||||
- | - | - | - | - | 0 | - | - | - |
Deferred financing costs on debt payable | ||||||||
- | - | 0 | 642 | 0 | - | - | - | - |
Cash dividend paid | ||||||||
- | - | - | - | 5,276 | - | - | - | - |
Proceeds from exercise of warrants | ||||||||
0 | 113 | 0 | 0 | 10 | 4,600 | 0 | 49 | - |
Net proceeds from stock issuance | ||||||||
- | - | - | - | - | 12,522 | 0 | 20,144 | - |
Net cash provided by financing activities | ||||||||
- | - | - | - | 15,246 | 23,345 | - | - | - |
Net cash provided by (used in) financing activities | ||||||||
-367,572 | 510,534 | 1,856,513 | 92,433 | - | - | 961 | 20,860 | -1,477 |
EFFECT OF EXCHANGE RATES ON CASH AND RESTRICTED CASH | ||||||||
-3,078 | 4,662 | -1,395 | -176 | -744 | 1,023 | -25 | 673 | 265 |
NET INCREASE (DECREASE) IN CASH AND RESTRICTED CASH | ||||||||
-5,126 | -63,753 | 18,232 | 1,768 | -953 | -259 | -6,266 | -341 | 1,187 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||||||||
Cash paid for interest expense | ||||||||
163,182 | 128,823 | 60,312 | 2,197 | - | - | - | - | - |
Cash paid for interest expense | ||||||||
- | - | - | - | 14,140 | 4,444 | 470 | 441 | 479 |
Cash paid for income tax | ||||||||
10,262 | 13,091 | 37,631 | 4,488 | 18,834 | 10,863 | 10,757 | 10,574 | 6,314 |
NON-CASH INVESTING AND FINANCING ACTIVITIES | ||||||||
Assets settled related to Jewelry Park due to sale | ||||||||
- | - | 9,029 | 0 | - | - | - | - | - |
Payables settled related to Jewelry Park due to sale | ||||||||
- | - | 206,348 | 0 | - | - | - | - | - |
Gold leased from bank | ||||||||
- | - | 7,491 | 0 | - | - | - | - | - |
Investments in gold obtained in a lease from a related party | ||||||||
0 | 133,721 | 562,936 | 0 | - | - | - | - | - |
Investments in gold transferred to inventories | ||||||||
769,308 | 417,937 | 0 | 0 | - | - | - | - | - |
Unrealized gain (loss) on investments in gold, net of tax | ||||||||
81,006 | 58,650 | -54,789 | 0 | - | - | - | - | - |
Forgiveness of debt by shareholder allocated to capital contribution | ||||||||
143,894 | 0 | - | - | - | - | - | - | - |