Payable to Officers and Employees

6 Months Ended

Jun. 30, 2013

Payable to Officers and Employees [Abstract]

PAYABLE TO OFFICERS AND EMPLOYEES

Note 4       PAYABLE TO OFFICERS AND EMPLOYEES

The Company established a plan in September 2012. Under this plan, eligible employees may make loans to the Company and earn interest equal to prevailing China bank loan interest rates, normally two to four times rates on savings accounts. The loans could be made only in the period from September 1, 2012 to December 31, 2012. The annual interest rate varies in line with changes in China bank loan interest rates. During the period from September 1, 2012 to June 30, 2013, the average loan interest rate was 6.0% and the total interest expense for the three and six-month periods ended June 30, 2013 was $21,817 and $57,118 respectively.  The total balance of $2,381,512 was repaid to the officers and employees during the three months ended June 30, 2013.