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MAJOR SUPPLIERS
6 Months Ended
Jun. 30, 2012
MAJOR SUPPLIERS

NOTE 15 – MAJOR SUPPLIERS

 

During the three-month and six-month periods ended June 30, 2012, the Company purchased 85.7% and 83.5% of its raw materials from its top five suppliers, respectively.  As of June 30, 2012, amounts due to those suppliers included in accounts payable were $3,305,237. During the three-month and six-month periods ended June 30, 2011, the Company purchased 81.1% and 81.6% of its raw materials from its top five suppliers, respectively.  As of June 30, 2011, amounts due to those suppliers included in accounts payable were $5,094,255. This concentration makes the Company vulnerable to a near-term severe impact, should the relationships be terminated.