Bank Acceptance Notes Payable

9 Months Ended

Sep. 30, 2013

Bank Acceptance Notes Payables [Abstract]

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 September 30, 2013 and December 31, 2012, the Company’s bank acceptance notes payables consisted of the following:

	September 30, 2013		December 31, 2012
Bank of China, non-interest bearing, due on January 4, 2014, collateralized by 100% of restricted cash deposited.	$	81,283	$	-
Jiangsu Huishan Mintai Village Town Bank, non-interest bearing, due on February 23, 2014, collateralized by 100% of restricted cash deposited.		325,129		-
Bank of Communications, non-interest bearing, due on November 23, 2013, collateralized by 100% of restricted cash deposited.		32,513		-
Bank of Communications, non-interest bearing, due on November 30, 2013, collateralized by 100% of restricted cash deposited.		325,129		-
Bank of Communications, non-interest bearing, due on January 3, 2014, collateralized by 100% of restricted cash deposited.		32,513		-
Total	$	796,567	$	-