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Note 5 - Notes Payable
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12 Months Ended |
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Dec. 31, 2011
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| Short-term Debt [Text Block] |
Note
5 – Notes Payable
Notes
payable at December 31, 2011 and 2010, were for
multiple bankers’ acceptances from the Bank of
China. The terms of the notes range from 3-6 months,
bear no interest and pay the bank 0.05% of the note
balance as an acceptance fee. The Company deposits a
certain percentage of the notes’ par value with
the Bank of China, refundable when the notes are
re-paid and accounted for as restricted cash in the
accompanied consolidated financial statements.
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