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EXCEL - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdFinancial_Report.xls
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EX-31.1 - CERTIFICATION OF THE CEO - Grand China Energy Group Ltdexhibit31-1.htm
EX-32.1 - CERTIFICATION OF THE CEO - Grand China Energy Group Ltdexhibit32-1.htm
EX-31.2 - CERTIFICATION OF THE CFO - Grand China Energy Group Ltdexhibit31-2.htm
10-K - ANNUAL REPORT - Grand China Energy Group Ltdform10k.htm
EX-32.2 - CERTIFICATION OF THE CFO - Grand China Energy Group Ltdexhibit32-2.htm
v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities    
Net income $ 1,694,475 $ 3,422,822
Items not involving cash:    
Depreciation & amortization 1,538,813 1,033,082
Interest expense 31,791 27,694
Imputed interest from a related party 100,000 0
Loss on retirement of fixed assets 0 315,725
Changes in non-cash working capital:    
Receivable (5,783) 161,625
Prepaid expenses and deposit 1,771,772 (2,033,985)
Accounts payable and accrued liabilities (353,120) (207,387)
Deferred revenue (45,211) 0
Net cash provided by operating activities 4,732,737 2,719,576
Cash flows from investing activities    
Purchase of property, equipment and mine development costs (4,725,823) (4,783,555)
Net cash (used in) investing activities (4,725,823) (4,783,555)
Cash flows from financing activities    
Capital contribution 1,284,917 0
Increase (decrease) of term loan (465,513) (1,407,138)
Cash provide in connection with acquisitions 4,285 0
Amounts due to a related party (792,149) 3,587,858
Net cash provided by financing activities 31,540 2,180,720
Increase in cash and cash equivalents 38,454 116,741
Effect of exchange rate changes on cash 49,427 14,090
Cash and cash equivalents - beginning of year 526,564 395,733
Cash and cash equivalents - end of year 614,445 526,564
Supplemental Disclosures    
Income tax 114,901 127,822
Interest expenses $ 1,887,656 $ 1,685,515