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(17) ATA INC. (“ Parent Company”)
The following presents condensed financial information of the Parent Company only.
Condensed Balance Sheets
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March 31,
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2011
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2012
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2012
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RMB
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RMB
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|
USD
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|
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Cash
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116,818,694
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48,532,826
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7,706,681
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Prepaid expenses and other current assets
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1,308,978
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840,201
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133,418
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Investments in subsidiaries
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247,228,859
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317,670,591
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50,443,921
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Total assets
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365,356,531
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367,043,618
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58,284,020
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Accrued expenses and other current liabilities
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1,293,531
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629,047
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99,888
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Total liabilities
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1,293,531
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629,047
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99,888
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Common shares
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3,428,840
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3,442,803
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546,694
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Receivable from shareholders
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(1,035,796
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)
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—
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—
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Additional paid in capital
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491,585,143
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440,832,695
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70,001,222
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Accumulated other comprehensive loss
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(22,217,189
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)
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(26,004,399
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)
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(4,129,321
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)
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Accumulated deficit
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(107,697,998
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)
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(51,856,528
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)
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(8,234,463
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)
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Total shareholders’ equity
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364,063,000
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366,414,571
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58,184,132
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Total liabilities and shareholders’ equity
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365,356,531
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367,043,618
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58,284,020
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Condensed Statements of Operations
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Year Ended March 31,
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2010
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2011
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2012
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2012
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RMB
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RMB
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RMB
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USD
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Operating expenses
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(11,663,959
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)
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(8,754,744
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)
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(7,487,523
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)
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(1,188,968
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)
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Investment income (loss)
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(23,643,581
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)
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27,535,955
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60,175,402
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9,555,443
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Interest income
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12,696
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97,045
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377,333
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59,918
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Foreign currency exchange gains (losses), net
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(55,147
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)
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875,760
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2,776,258
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440,851
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Earnings(loss) before income taxes
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(35,349,991
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)
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19,754,016
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55,841,470
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8,867,244
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Income tax expense
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—
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—
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—
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—
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Net income (loss)
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(35,349,991
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)
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19,754,016
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55,841,470
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8,867,244
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Condensed Statements of Cash Flows
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Year Ended March 31,
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2010
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2011
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2012
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2012
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RMB
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RMB
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RMB
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USD
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Net cash used in operating activities
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(12,425,281
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)
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(8,122,776
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)
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(4,529,639
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)
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(719,276
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)
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Cash flows from investing activities :
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Payments of investment in subsidiaries
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(94,398,750
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)
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—
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—
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—
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Advances to (collection from) subsidiaries
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(68,744
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)
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(5,139
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)
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1,140,127
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181,044
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Payment for JDX acquisition
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(2,305,553
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)
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—
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—
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—
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Net cash provided by (used in) investing activities
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(96,773,047
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)
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(5,139
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)
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1,140,127
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181,044
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Cash flows from financing activities :
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Proceeds from exercise of share options
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—
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—
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631,844
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100,333
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Cash paid for repurchase of common shares
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(11,896,328
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)
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—
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—
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—
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Collection of receivable from shareholders
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5,226,173
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—
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1,035,796
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164,477
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Special cash dividend
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—
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—
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(63,634,726
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)
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(10,104,760
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)
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Net cash used in financing activities
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(6,670,155
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)
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—
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(61,967,086
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)
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(9,839,950
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)
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Effect of foreign exchange rate changes on cash
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(330,780
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)
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(4,039,042
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)
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(2,929,270
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)
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(465,148
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)
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Net decrease in cash
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(116,199,263
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)
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(12,166,957
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)
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(68,285,868
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)
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(10,843,330
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)
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Cash at beginning of year
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245,184,914
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128,985,651
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116,818,694
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18,550,011
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Cash at end of year
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128,985,651
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116,818,694
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48,532,826
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7,706,681
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Supplemental disclosures of cash flow information :
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Non-cash investing and financing activities:
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Receivable from shareholders for exercise of common share options
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—
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1,035,796
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—
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—
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