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RELATED PARTY TRANSACTIONS
6 Months Ended
Jun. 30, 2012
RELATED PARTY TRANSACTIONS

NOTE 8 – RELATED PARTY TRANSACTIONS

 

During the three-month and six-month periods ended June 30, 2012, the Company borrowed sum of $60,000 and $235,000, respectively, and fully repaid later during the same period, from Jiaxing Lighting Appliance Company Limited (Jiaxing Lighting”), in which Mr. Ming Yang, a shareholder and the Chairman of the Company, had a 100% equity interest in Jiaxing Lighting. The amounts due to Jiaxing Lighting were unsecured, interest free and repayable on demand.