Bank Acceptance Notes Payable

3 Months Ended

Mar. 31, 2018

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 March 31, 2018 and December 31, 2017, the Company’s bank acceptance notes payables consisted of the following:

	March 31, 2018		December 31, 2017
Bank of China, non-interest bearing, due on June 25, 2018, collateralized by 100% of restricted cash deposited	$	119,286	$	115,252
Bank of Communication, non-interest bearing, due on March 24, 2018, collateralized by 100% of restricted cash deposited		-		307,337
Total	$	119,286	$	422,589