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Other Short-term Loans
 9 Months Ended
Jun. 30, 2015
Other Short-term Loans [Text Block]
10.

Other Short-term Loans

Other short-term loans as of September 30, 2014 and June 30, 2015 consisted of the following:

            September 30,     June 30,  
      Note     2014     2015  
  Advance from a related company                  
  – Tianjin BAK New Energy Research Institute Co., Ltd (“Tianjin New Energy”)   (a)   $ 651,657   $ 2,474,470  
  – Mr. Xiangqian Li, the Company’s CEO   (b)     -     100,000  
            651,657     2,574,470  
  Advances from unrelated third parties   (c)              
  – HK Golden Fortune Trade Co Limited         -     1,500,000  
  – Hong Kong Ou Yuan Investment Limited         -     89,997  
  – Light Power Limited         -     1,599,968  
  – Maoru Wine Business Limited         -     319,982  
  – Shengjia International Industrial Limited         -     3,227,152  
  – Shengjin Dress Limited         -     479,974  
  – Smart Linkage Corporation Limited               249,982  
  – Wanfeng (Hong Kong) Development Company Limited         -     499,962  
  – Mr. Jianqiang Han         -     629,154  
  – Mr. Longqian Peng         162,915     129,057  
  – Mr. Mingzhe Li         382,848     171,646  
  – Mr. Shengdan Qiu         4,354,697     290,379  
  – Others         -     193,797  
            4,900,460     9,381,050  
          $ 5,552,117   $ 11,955,520  

  (a)

The Company received an advance from Tianjin New Energy, a related company under the common control of Mr. Xiangqian Li, the Company’s CEO, which was unsecured, non-interest bearing and repayable on demand. For the three and nine months ended June 30, 2015, the Company generated revenue of nil and $300,286 from Tianjin New Energy, and the related trade receivables was offset against the advance from Tianjin New Energy as of June 30, 2015.

     
  (b)

Advances from Mr. Xiangqian Li, the Company’s CEO, was unsecured, non-interest bearing and repayable on demand.
     
  (c)

Advances from unrelated third parties were unsecured, non-interest bearing and repayable on demand.

During the three months ended June 30, 2014 and 2015, interest of $5,149,806 and nil, respectively, was incurred on the Company’s other short-term loans.

During the nine months ended June 30, 2014 and 2015, interest of $11,687,780 and nil, respectively, was incurred on the Company’s other short-term loans.