Bank Acceptance Notes Payable

6 Months Ended

Jun. 30, 2013

Bank Acceptance Notes Payables [Abstract]

BANK ACCEPTANCE NOTES PAYABLE

NOTE 8 – 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 June 30, 2013 and December 31, 2012, the Company’s bank acceptance notes payables consisted of the following:

	June 30, 2013		December 31, 2012
Bank of China, non-interest bearing, due and subsequently paid off on July 24, 2013, collateralized by 100% of restricted cash deposited.	$	161,598	$	-
Jiangsu Huishan Mintai Village Town Bank, non-interest bearing, due and subsequently paid off on August 6, 2013, collateralized by 100% of restricted cash deposited.		807,989		-
Bank of Communications, non-interest bearing, due on November 23, 2013, collateralized by 100% of restricted cash deposited.		32,320		-
Bank of Communications, non-interest bearing, due on November 30, 2013, collateralized by 100% of restricted cash deposited.		323,196		-
Total	$	1,325,103	$	-