- Definition

The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References+ Details

SHORT-TERM BORROWINGS (Details Textual)	3 Months Ended	6 Months Ended						3 Months Ended
SHORT-TERM BORROWINGS (Details Textual)	Jun. 30, 2012 USD ($)	Jun. 30, 2012 USD ($)	Jun. 30, 2011	May 14, 2012 CNY	Dec. 31, 2011 USD ($)	Feb. 02, 2012 Nanjing Bank Company Limited [Member] USD ($)	Feb. 02, 2012 Nanjing Bank Company Limited [Member] CNY	Jun. 30, 2012 March142013 [Member] CNY	Jun. 30, 2012 May142013 [Member] CNY
Short-term borrowings	$ 2,360,295	$ 2,360,295		10,000,000	$ 1,585,890			3,000,000	7,000,000
Line of Credit Facility, Interest Rate During Period		7.22%	5.84%
Loan Agreement Amount						$ 791,315	5,000,000
Loan Agreement At Floating Interest Rate	8.20%
Loan Due Date As Per Loan Agreement	Jan. 30, 2013							Mar. 14, 2013	May 14, 2013