Bank Acceptance Notes Payable

9 Months Ended

Sep. 30, 2017

Bank Acceptance Notes Payable [Abstract]

BANK ACCEPTANCE NOTES PAYABLE

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 September 30, 2017 and December 31, 2016, the Company’s bank acceptance notes payables consisted of the following:

	September 30, 2017		December 31,  2016
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 and paid 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
Bank of Communication, non-interest bearing, due on November 8, 2017, collateralized by 100% of restricted cash deposited		75,165		-
Bank of Communication, non-interest bearing, due on March 24, 2018, collateralized by 100% of restricted cash deposited		300,662		-
Total	$	375,827	$	547,172