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6. ACCOUNTS PAYABLE AND ACCRUED EXPENSE (Tables)

12 Months Ended

Dec. 31, 2014

Payables and Accruals [Abstract]

Accounts payable and accrued expenses

		As of December 31,
		2014				2013
Accounts payable		$	3,181,465			$	3,998,660
Salary payable			234,932				212,138
Social security insurance contribution payable			89,232				57,674
Price adjustment funds			-				861,071
Other payables			499,099				516,288
Total		$	4,004,728			$	5,645,831

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- Definition

Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses.

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