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Short-term Bank Loans | 6 Months Ended
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Mar. 31, 2016
Short-term Bank Loans [Text Block] |
11. | Short-term Bank Loans
| As of September 30, 2015 and March 31, 2016, the Company had short term bank borrowings of $12,585,740 and $12,896,137, respectively.
| Under the banking facilities granted by Bank of Dandong on June 22, 2015 (Note 1), the Company borrowed a loan of $7,758,313 (RMB50 million) from Bank of Dandong for a period from June 25, 2015 to June 22, 2016, bearing fixed interest at 7.84% per annum. On August 18, 2015, the Company borrowed another loan of $4,654,988 (RMB30 million) with a fixed interest rate at 7.84% per annum for the period from August 18, 2015 to June 10, 2016. During the three months ended March 31, 2016, the Company borrowed bank loans of $482,836 bearing interest from 5.86% to 5.89% and expiring through July 2016 under the matured letter of credits.
| The banking facilities were guaranteed by Mr. Xiangqian Li, the Company’s former CEO and his wife, Ms. Xiaoqiu Yu, and Shenzhen BAK, a former subsidiary of the Company. The facilities were also secured by the Company’s assets with the following carrying amounts:
|  | September 30, |  |  | March 31, |
|  | 2015 |  |  | 2016 |
Pledged deposits (note 2) | $ | 1,519,601 |  | $ | 2,014,963 |
Prepaid land use rights (note 9) |  | 8,631,995 |  |  | 8,426,556 |
Buildings |  | 13,120,083 |  |  | 12,319,168 |
Machinery and equipment |  | 3,831,790 |  |  | 3,409,939 |
Construction in progress |  | 6,228,371 |  |  | 6,143,035 |
| $ | 33,331,840 |  | $ | 32,313,661 |
As of March 31, 2016, the Company had unutilized committed banking facilities of $0.8 million. During the three months ended March 31, 2015 and 2016, interest of $93,780 and $242,338, respectively, was incurred on the Company's bank borrowings. During the six months ended March 31, 2015 and 2016, interest of $191,041 and $490,430, respectively, was incurred on the Company's bank borrowings.

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
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