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ACCOUNTS PAYABLE AND ACCRUED EXPENSE
 12 Months Ended
Dec. 31, 2011
ACCOUNTS PAYABLE AND ACCRUED EXPENSE

NOTE 7 – ACCOUNTS PAYABLE AND ACCRUED EXPENSE

 

Accounts payable and accrued expenses consist of the following:

 

    As of December 31,  
    2011     2010  
             
Accounts payable   $ 3,645,804     $ 5,661,329  
Salary payable     132,454       121,121  
Social security insurance contribution payable     39,129       30,946  
Amount due to a contractor     1,422,042       -  
Price adjustment funds     1,031,685       -  
Other payables     1,102,529       606,339  
Total   $ 7,373,643     $ 6,419,735