Bank Acceptance Notes Payable

9 Months Ended

Sep. 30, 2016

Bank Acceptance Notes Payable [Abstract]

BANK ACCEPTANCE NOTES PAYABLE

NOTE 9 – BANK ACCEPTANCE NOTES PAYABLE

Bank acceptance notes payable represent amounts due to banks which are collateralized. All bank acceptance notes payable are secured by the Company’s restricted cash which are deposits with various lenders. At September 30, 2016 and December 31, 2015, the Company’s bank acceptance notes payables consisted of the following:

	September 30, 2016		December 31, 2015
Jiangsu Huishan Mintai Village Town Bank, non-interest bearing, due and paid on January 9, 2016, collateralized by 100% of restricted cash deposited	$	-	$	308,133
Bank of China, non-interest bearing, due and paid on January 16, 2016, collateralized by 100% of restricted cash deposited		-		107,847
Jiangsu Huishan Mintai Village Town Bank, non-interest bearing, due and paid on March 21, 2016, collateralized by 100% of restricted cash deposited		-		77,033
Bank of China, non-interest bearing, due and paid on March 23, 2016, collateralized by 100% of restricted cash deposited		-		77,033
Jiangsu Huishan Mintai Village Town Bank, non-interest bearing, due and paid on June 29, 2016, collateralized by 100% of restricted cash deposited		-		77,034
Jiangsu Huishan Mintai Village Town Bank, non-interest bearing, due and paid on October 13, 2016, collateralized by 100% of restricted cash deposited		29,988		-
Jiangsu Huishan Mintai Village Town Bank, non-interest bearing, due on December 28, 2016, collateralized by 100% of restricted cash deposited		44,982		-
Bank of China, non-interest bearing, due on January 6, 2017, collateralized by 100% of restricted cash deposited		44,982		-
Jiangsu Huishan Mintai Village Town Bank, non-interest bearing, due on January 29, 2017, collateralized by 100% of restricted cash deposited		74,969		-
Total	$	194,921	$	647,080