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Short-term Bank Loans
 3 Months Ended
Dec. 31, 2014
Short-term Bank Loans [Text Block]
9.

Short-term Bank Loans

   
 

As of the September 30, 2014 and December 31, 2014, the Company borrowed $4,887,426 and $4,833,486 (RMB30 million) from Bank of Dandong for a period from August 19, 2014 to August 18, 2015, bearing interest at 7.8% per annum. The loan was guaranteed by Mr. Xiangqian Li, the Company’s CEO and Shenzhen BAK, a former subsidiary of the Company.

   
 

During the three months ended December 31, 2013 and 2014, interest expense of $2,746,369 and $97,261, respectively, was incurred on the Company's bank borrowings.