BANK LOANS-SHORT TERM

3 Months Ended

Mar. 31, 2012

BANK LOANS-SHORT TERM

NOTE 2 BANK LOANS—SHORT TERM

The Company has short term loans with two banks in Asia. The loans bear interest from 1% to 3.26% and are due in July and September 2012. The company has chosen not to use its excess cash to pay off these loans early since the interest rate is relatively low and they are due in the near future.