China Chemical Corp (CHCC)

[Cobra Kai]

maybe this can be put into the Chinese Scam category?

A company this big just disappearing??

September 30, 2011 December 31, 2010

Cash and cash equivalents $ 3,151,513 $ 3,156,242
Restricted cash 93,541,765 57,718,999
Accounts receivable 26,599,702 19,903,437
Inventories 16,801,285 10,306,029
Prepayments for goods 14,802,873 15,782,623
Other current assets 11,378,225 22,658,181
Total current assets 166,275,363 129,525,511

Plant and equipment, net 72,859,503 74,428,715
Construction in progress 61,465,310 32,151,137
Due from related parties 29,178,040 17,679,267
Other long-term assets 4,418,809 4,242,429
Total long-term assets 167,921,662 128,501,548
Total assets $ 334,197,025 $ 258,027,059

Accounts payable $ 14,242,514 $ 4,972,972
Short-term bank loans 47,365,534 47,593,169
Notes payable 123,756,649 75,546,569
Current portion of long-term bank loans 10,957,189 5,831,080
Other current liabilities 24,599,531 13,274,753
Total current liabilities 220,921,417 147,218,543

Long-term portion of financial obligations, sale-leaseback 5,677,673 10,391,835
Long-term bank loans 12,052,908 19,613,634
Total long-term liabilities 17,730,581 30,005,469
Total liabilities $ 238,651,998 $ 177,224,012