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Other Long-term Payables
 3 Months Ended
Dec. 31, 2013
Other Long-term Payables [Text Block]

12. Other Long-term Payables

Other long-term payables as of September 30, 2013 and December 31, 2013 consist of the following:

    September 30,     December 31,  

 

   2013     2013  

Advances from the Management Committee of Dalian Economic Zone (the “Management Committee”) (note)

 $ 24,505,399   $ 24,777,007  

Government subsidies received for:-

            

–   Automated high-power lithium battery project from the National Development and Reform Commission and Ministry of Industry and Information Technology

   8,145,594     8,235,878  

–   New energy innovation project from the Ministry of Finance

   340,217     343,987  

–   Various lithium battery related projects from various government authorities

   14,448,005     15,535,626  

Others

   32,252     7,786  

 

 $ 47,471,467   $ 48,900,284  

Less: Current portion (Note 10)

   (24,525,004 )   (24,796,828 )

 

 $ 22,946,463   $ 24,103,456  

Note:

The Management Committee provided a subsidy of RMB150 million to finance the removal of the Company's production facilities from Tianjin to Dalian. The Company expects that the removal will commence in March 2014 and be completed by September 2014.

The Company will recognize these grants as income or offset against related expenditures when there are no present or future obligations for the subsidized projects.