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7. ACCOUNTS PAYABLE AND ACCRUED EXPENSE

12 Months Ended

Dec. 31, 2012

Payables and Accruals [Abstract]

7. 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,
		2012				2011
Accounts payable		$	3,797,552			$	3,645,804
Salary payable			190,926				132,454
Social security insurance contribution payable			52,399				39,129
Amount due to a contractor			-				1,422,042
Price adjustment funds			1,758,828				1,031,685
Other payables			733,531				1,102,529
Total		$	6,533,236			$	7,373,643

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- Definition

The entire disclosure for accounts payable, accrued expenses, and other liabilities that are classified as current at the end of the reporting period.

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