XML 69 R27.htm IDEA: XBRL DOCUMENT v2.4.0.6
Short-Term Bank Loans (Tables)
6 Months Ended
Jun. 30, 2012
Debt Disclosure [Abstract]  
Schedule of short-term bank loans
 
   
June 30,
2012
   
December 31,
2011
 
Loan from Agricultural and Commercial Bank, due on March 30, 2012 with annual interest at December 31, 2011 of 7.88%, secured by certain assets of the Company and repaid on due date.
  $ -     $ 628,466  
                 
Loan from China Merchants Bank, due on May 20, 2012 with annual interest rate of 6.73% at March 31, 2012 and December 31, 2011, respectively, and repaid on due date.
    -       471,350  
                 
Loan from China Merchants Bank, due on November 17, 2012 with annual interest rate being adjusted quarterly based on 130% of People’s Bank of China’s base rate.
    474,706       -  
                 
Loan from Agricultural and Commercial Bank, due on October 10, 2012 with annual interest rate of 5.75% at June 30, 2012 and December 31, 2011, respectively, secured by certain assets of the Company.
    474,706       471,350  
                 
Loan from Bank of Communications, due on May 14, 2012 with annual interest rate being adjusted quarterly based on 120% of People’s Bank of China’s base rate, and repaid on due date.
    -       471,350  
                 
Loan from Bank of Communications, due on November 14, 2012 with annual interest rate of 7.32% at June 30, 2012.
    474,706       -  
                 
Loan from Bank of Communications, due on May 23, 2012 with annual interest rate being adjusted quarterly based on 120% of People’s Bank of China’s base rate, and repaid on due date.
    -       314,233  
                 
Loan from Bank of Communications, due on November 21, 2012 with annual interest rate of 7.32% at June 30, 2012.
    316,471       -  
                 
Loan from Bank of China, due on January 16, 2013 with annual interest rate of 7.35% at June 30, 2012 and secured by certain assets of the Company.
    949,412       -  
                 
Total short-term bank loans
  $ 2,690,001     $ 2,356,749