Bank Acceptance Notes Payable

9 Months Ended

Sep. 30, 2012

Bank Acceptance Notes Payables [Abstract]

BANK ACCEPTANCE NOTES PAYABLE

NOTE 7 – BANK ACCEPTANCE NOTES PAYABLE

Bank acceptance notes payable represents amounts due to a bank which are collateralized and typically renewed. All bank acceptance notes payable are secured by the Company’s restricted cash which is on deposit with the lender. At September 30, 2012 and December 31, 2011, the Company’s bank acceptance notes payables consisted of the following:

	September 30, 2012		December 31, 2011
Agricultural and Commercial Bank, non-interest bearing, due and paid on January 15, 2012, collateralized by 100% of restricted cash deposited.	$	-	$	314,233
Total	$	-	$	314,233