NOTE 10 – 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 December 31, 2016 and 2015, the Company’s bank acceptance notes payables consisted of the following:

	December 31, 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 January 29, 2017, collateralized by 100% of restricted cash deposited		71,996		-

Jiangsu Huishan Mintai Village Town Bank, non-interest bearing, due on May 9, 2017, collateralized by 100% of restricted cash deposited		431,978		-

Bank of China, non-interest bearing, due and paid on January 6, 2017, collateralized by 100% of restricted cash deposited		43,198		-
Total	$	547,172	$	647,080