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ACCOUNTS PAYABLE AND ACCRUED EXPENSES
 3 Months Ended
Mar. 31, 2012
ACCOUNTS PAYABLE AND ACCRUED EXPENSES

NOTE 7 – ACCOUNTS PAYABLE AND ACCRUED EXPENSES

 

Accounts payable and accrued expenses consist of the following:

 

    March 31,     December 31,  
    2012     2011  
Accounts payable   $ 4,933,961     $ 3,645,804  
Salary payable     142,886       132,454  
Social security insurance contribution payable     50,175       39,129  
Amount due to a contractor     -       1,422,042  
Price adjustment funds     1,187,733       1,031,685  
Other payables     1,427,888       1,102,529  
Total   $ 7,742,643     $ 7,373,643