Other Short-term Loans

12 Months Ended

Sep. 30, 2016

Other Short-term Loans [Text Block]

13. Other Short-term Loans

Other short-term loans as of September 30, 2015 and 2016 consisted of the following:

	Note		2015		2016
Advance from related parties
–    Tianjin BAK New Energy Research Institute Co., Ltd (“Tianjin New Energy”)	(a)	$	6,094	$	4,205,591
–     Mr. Xiangqian Li, the Company’s Former CEO	(b)		100,000		100,000
			106,094		4,305,591
Advances from unrelated third party	(c)
–       Mr. Guozhu Liang		$	-		14,989
–       Mr. Wenwu Yu			-		70,424
–       Mr. Yunfei Li (CEO of the Company since March 1, 2016)			78,661		-
			78,661		85,413
		$	184,755	$	4,391,004

(a)	The Company received advances from Tianjin New Energy, a related company under the control of Mr. Xiangqian Li, the Company’s former CEO, which was unsecured, non-interest bearing and repayable on demand. As of September 30, 2015 and 2016, the payable to Tianjin New Energy of $453,087 and $301,231, respectively, was included in trade accounts and bills payable.
(b)	Advances from Mr. Xiangqian Li, the Company’s former CEO, was unsecured, non-interest bearing and repayable on demand.
(c)	Advances from unrelated third parties were unsecured, non-interest bearing and repayable on demand. The Company has fully repaid the advance to Mr. Wenwu Yu in December 2016.