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Note 8 - Loans Payable: Schedule of loans payable (Tables)
3 Months Ended
Sep. 30, 2012
Schedule of loans payable:  
Schedule of loans payable

 

 

 

2012

 

 

2011

 

Loan from Shanghai Rural Commercial Bank, Dachang Branch due on May 14, 2013 with interest rate at 30% higher than one-year base borrowing rate issued by People’s Bank of China (currently 6.56%). The loan is guaranteed by Shanghai Shanhai Group (a strategic partner of the Company), and Mr. Bian, Chairman of the Company.

 

         1,577,038

 

 

                          -

 

 

 

   $   1,577,038

 

 

   $                    -