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XML - IDEA: XBRL DOCUMENT - POWIN CORPR10.htm
10-Q - FOR THE QUARTERLY PERIOD ENDED: SEPTEMBER 30, 2012 - POWIN CORPj111412010q.htm
EX-32.1 - EXHIBIT 32.1 - POWIN CORPex32_1.htm
EXCEL - IDEA: XBRL DOCUMENT - POWIN CORPFinancial_Report.xls
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EX-31.1 - EXHIBIT 31.1 - POWIN CORPex31_1.htm
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
CASH FLOWS USED IN OPERATING ACTIVITIES    
Net (loss) income $ (2,353,479) $ (333,481)
Adjustments to reconcile net income to net cash provided by (used) in operating activities    
Net loss attributable to non-controlling interest in subsidiary (76,065)   
Depreciation 365,631 202,368
Shares issued for services    43,250
Deposits written-off      
Loss on disposal of equipment 6,825   
Reserve for slow moving and obsolete Inventory 88,000   
Share based compensation 841,559 69,784
Stock option compensation 84,504 51,127
Provision for doubtful accounts receivable    37,667
Provision for income tax      
Changes in operating assets    
Decrease in trade accounts receivable 418,250 373,062
Increase in other receivables (139,448) (352,127)
(Increase) decrease in inventories 32,799 (2,181,530)
(Increase) decrease in prepaid expenses 180,593 (88,840)
(Increase) decrease in deposits (6,955) 305,217
Changes in operating liabilities    
Increase (decrease) in trade accounts payable (637,457) 1,208,677
Increase in accrued payroll and other liabilities 219,856 142,340
Increase in deferred tax asset      
Net cash provided by operating activities (975,387) (522,486)
CASH FLOWS USED IN INVESTING ACTIVITIES    
Acquisition of intangible assets (20,407) (315)
Purchases of equipment (480,421) (374,745)
Proceeds from joint venture partner    25,500
Net cash flows used in investing activities (500,828) (349,560)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net payments under line-of-credit 800,000   
Net proceeds from long-term borrowing    500,000
Net re-payment towards long-term barrowing (75,000)   
Net cash flows provided by financing activities 725,000 500,000
Impact of foreign exchange translation on cash (23,501) (26,756)
Net decrease in cash (774,716) (398,802)
Cash at beginning of period 2,875,298 3,356,460
Cash at end of period 2,100,582 2,957,658
SUPPLEMENTAL DISCLOURSE OF CASH FLOW INFORMATION    
Interest paid 17,955   
Income tax paid $ 12,866 $ 250,000