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Payables to Former Subsidiaries

9 Months Ended

Sep. 30, 2017

Payables to Former Subsidiaries [Text Block]

6.	Payables to Former Subsidiaries, net

Payable to former subsidiaries as of December 31, 2016 and September 30, 2017 consisted of the following:

		December 31,		September 30,
		2016		2017
BAK Tianjin	$	194,744	$	168,581
Shenzhen BAK		2,294,085		15,919,505
		2,488,829		16,088,086

Balance as of December 31, 2016 and September 30, 2017primarily consisted of payables for purchase of inventories from BAK Tianjin and Shenzhen BAK. From time to time, the Company purchased products from these former subsidiaries that they did not produce to meet the needs of its customers.

As of December 31, 2016 and September 30, 2017, payables to Shenzhen BAK also consisted of advances from Shenzhen BAK of $nil and $2,104,000, respectively. The balance was unsecured, non-interest bearing and repayable by December 31, 2017.