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MAJOR SUPPLIERS | 9 Months Ended
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Sep. 30, 2012
MAJOR SUPPLIERS |
MAJOR SUPPLIERS | NOTE 15 - MAJOR SUPPLIERS During the three-month and nine-month periods ended September 30, 2012, the Company purchased 83.6% and 83.5% of its raw materials from its top five suppliers, respectively. As of September 30, 2012, amounts due to those suppliers included in accounts payable were $2,979,273. During the three-month and nine-month periods ended September 30, 2011, the Company purchased 80.0% and 81.1% of its raw materials from its top five suppliers, respectively. As of September 30, 2011, amounts due to those suppliers included in accounts payable were $6,927,770. This concentration makes the Company vulnerable to a near-term severe impact, should the relationships be terminated.

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- Definition The entire disclosure for arrangements in which the entity has agreed to expend funds to procure goods or service from one or more suppliers, or to commit resources to supply goods or services to one or more customers. May include identification of the goods or services to be purchased, the goods or services to be furnished, identity of the buyer or seller, pricing, effects on pricing (such as penalties) of failing to reach minimum quantities required to be purchased, effects on pricing (such as penalties) of failing to deliver minimum quantities required to be furnished, cancellation rights, and termination provisions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 17 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.25) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 25 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 7 + Details
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