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7. ACCOUNTS PAYABLE AND ACCRUED EXPENSE (Tables)

3 Months Ended

Mar. 31, 2015

Payables and Accruals [Abstract]

Accounts payable and accrued expenses

		March 31,				December 31,
		2015				2014
Accounts payable		$	15,193,104			$	3,181,465
Salary payable			300,060				234,932
Social security insurance contribution payable			111,332				89,232
Other payables			696,047				499,099
Total		$	16,300,543			$	4,004,728

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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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