XML 16 R12.htm IDEA: XBRL DOCUMENT  v2.3.0.11
SHORT-TERM BORROWINGS
 6 Months Ended
Jun. 30, 2011
Short-term Debt [Abstract]  
Short-term Debt [Text Block]
6.
SHORT-TERM BORROWINGS

The Company has a line of credit for RMB 10,000,000 (US$1,574,620 at December 31, 2010 and US$1,547,170 at June 30, 2011) with a commercial bank in the PRC to finance its working capital. The credit line bears interest at a variable rate and is renewed annually on June 15th. Any outstanding loan balance must be repaid before annual renewal. Average interest rates for the six months ended June 30, 2011 and 2010 were 6.94% and 5.84%, respectively. Pursuant to the terms of the agreement, the line of credit is secured by BTL’s building (see note 4) and guaranteed by BDL and an officer of the Company.