XML 30 R18.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Other Short-term Loans | 3 Months Ended
--- | ---
Mar. 31, 2017
Other Short-term Loans [Text Block] |
12. | Other Short-term Loans
| Other short-term loans as of December 31, 2016 and March 31, 2017 consisted of the following:
|  |  |  |  | December 31, |  |  | March 31, |
|  | Note |  |  | 2016 |  |  | 2017 |
| Advance from related parties |  |  |  |  |  |  |  |
| — Tianjin BAK New Energy Research Institute Co., Ltd (“Tianjin New Energy”) | (a) |  | $ | 9,252,127 |  | $ | 11,197,068 |
| — Mr. Xiangqian Li, the Company’s Former CEO | (b) |  |  | 100,000 |  |  | 100,000 |
| — Shareholders (note 1) | (c) |  |  | - |  |  | 2,032,313 |
|  |  |  |  | 9,352,127 |  |  | 13,329,381 |
| Advances from unrelated third party |  |  |  |  |  |  |  |
| – Mr. Guozhu Liang | (d) |  |  | 14,399 |  |  | 14,517 |
| – Mr. Wenwu Yu | (d) |  |  | 145,410 |  |  | 146,592 |
| – Mr. Mingzhe Li | (d) |  |  | 796,850 |  |  | 1,892,067 |
| – Ms. Longqian Peng | (d) |  |  | 215,992 |  |  | 653,244 |
|  |  |  |  | 1,172,651 |  |  | 2,706,420 |
|  |  |  | $ | 10,524,778 |  | $ | 16,035,801 |
| (a) | The Company received advances from Tianjin New Energy, a related company under the control of Mr. Xiangqian Li, the Company’s former CEO, which was unsecured, non-interest bearing and repayable on demand. On November 1, 2016, Mr. Xiangqian Li ceased to be a shareholder but remained as a general manager of Tianjin New Energy. As of December 31, 2016 and March 31, 2017, the payable to Tianjin New Energy of $20,384 and $0, respectively, was included in trade accounts and bills payable.
| (b) | Advances from Mr. Xiangqian Li, the Company’s former CEO, was unsecured, non-interest bearing and repayable on demand.
| (c) | The refundable deposits paid by certain shareholders in relation to share purchase (note 1) were unsecured, non-interest bearing and repayable on demand.
| (d) | Advances from unrelated third parties were unsecured, non-interest bearing and repayable on demand.

X
- Definition The entire disclosure for other liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20,24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_OtherLiabilitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration