China Global Media (fka CGLO)

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Quick facts from CGLO last Q: $49M asset; $22M liability

Assets
Current assets:
Cash and cash equivalents $ 1,670,652 $ 5,581,867
Accounts receivable, net of allowance for doubtful accounts of $1,015,930
and $995,235 at June 30, 2013 and December 31, 2012, respectively 14,211,362 13,332,861
Advance payments, net 19,636,330 19,486,219
Loans receivable, net 1,071,196 1,144,595
Due from related parties 1,019,760 1,782,738
Bank loan security deposit 544,320 533,232
Other current assets 1,658,964 761,047
Total current assets 39,812,584 42,622,559

Property and equipment, net 2,897,036 2,928,299

Intangible assets, net 6,480,000 -

Advance payment for long-term investment - 2,587,984

Total assets $49,189,620 $48,138,842

Liabilities
Current liabilities:
Accounts payable and accrued expenses $ 1,086,131 $ 2,114,957
Short-term bank loans 5,670,000 5,078,400
Due to related party 1,688,752 -
Advances from customers 1,354,475 4,813,291
Income taxes payable 8,297,069 7,734,001
Other taxes payable 2,996,730 2,984,311
Due to shareholders 198,866 198,889
Other current liabilities 218,821 419,738
Total current liabilities 21,510,844 23,343,587

Warrants liability 530,908 525,921

Total liabilities 22,041,752 23,869,508