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Short-term Bank Loans
 3 Months Ended
Dec. 31, 2012
Short-term Bank Loans [Text Block]

7 Short-term Bank Loans

As of September 30, 2012 and December 31, 2012, the Company had several short-term bank loans and current maturities of long-term bank loans with aggregate outstanding balances of $156,154,525 and $160,622,458, respectively. The loans were primarily obtained for general working capital, carried interest rates ranging from 6% to 7.216% per annum, and had maturity dates ranging from 6 to 12 months. The loans are guaranteed by Mr. Xiangqian Li, who did not receive any compensation for acting as guarantor. These facilities were also secured by the Company’s assets with the following carrying values:

    September 30,     December 31,  
    2012     2012  
             
For short- term bank loans            
Inventories $ 23,863,691   $ 24,072,024  
Machinery and equipment, net   47,255,604     45,722,332  
Land use rights, buildings and construction in progress of BAK Industrial Park   107,140,980     107,340,987  
Land use rights #1 and buildings of Tianjin Industrial Park Zone   23,970,502     23,844,413  
    202,230,777     200,979,756  
For long- term bank loans (Note 8)            
Land use right and construction in progress of Research and Development Test Centre   34,796,887     39,369,580  
             
For other long- term loans            
Land use rights #2 of Tianjin Industrial Park Zone   9,566,555     9,595,552  
  $ 246,594,219   $ 249,944,888